Bajaj Allianz Life Insurance Vs Aditya Birla Sun Life Insurance

There are a lot of life insurance companies available in India. However, it can be difficult for the average Indian to decide which one is best for them. This article compares Bajaj Allianz Life Insurance and Aditya Birla Sun Life Insurance to help you decide which policy is the best life insurance policy for you. ..Read More

Bajaj Allianz Vs Aditya Birla Sun Life Insurance Comparison

The two life insurance companies, Aditya Birla sun life insurance and Bajaj Allianz life insurance are relatively similar in terms of their competitive landscape. They have a similar customer base, providing coverage for the same target audience and they both are top life insurance providers in India. The Bajaj Allianz Life Insurance Vs Aditya Birla Sun Life Insurance Comparison is an in-depth comparison of the two life insurance plans.

Bajaj Allianz Life Insurance is a top-rated life insurance plan in India that provides a range of benefits and services. It also offers flexible premiums, low-cost investments, an easy-to-use purchase, etc. Aditya Birla Sun Life Insurance offers competitive premiums, low investment costs, flexible policies with multiple options, etc. Let’s compare the two life insurance providers and their policies, features, benefits, and prices in detail.

Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance is a leading insurance company in India with a global presence. Bajaj Allianz Life insurance is a joint venture between Bajaj Finserv Limited owned by Bajaj Group of India and Allianz SE, a European Financial Services company. It has commenced its operations in India in 2001 after receiving the license from the insurance regulator IRDA.

Bajaj Allianz life insurance India has been constantly transforming to offer tech-enabled state-of-the-art services to enhance customer delight. Bajaj Allianz Life Insurance Company offers a wide variety of life insurance products that serve the different sections of society. It offers insurance products to those who are looking for a complete solution to their financial needs.

List of Bajaj Allianz Life Insurance Plans

Type of Plans Bajaj Allianz Life Insurance Plans
Term Insurance Plans
  • Bajaj Allianz Life Smart Protect Goal
  • Bajaj Allianz Life Saral Jeevan Bima
  • Bajaj Allianz Life eTouch Online Term
  • Bajaj Allianz Life iSecure
Savings Plans
  • Bajaj Allianz Life Flexi Income Goal
  • Bajaj Allianz Life Guaranteed Saving Plan
  • Bajaj Allianz Life Guaranteed Income Plan
  • Bajaj Allianz Life POS Goal Suraksha Plan
  • Bajaj Allianz Life Assured Wealth Goal-Second Income Plan
Pension Plans
  • Bajaj Allianz Life Saral Pension Plan
  • Bajaj Allianz Life Guaranteed Pension Goal
  • Bajaj Allianz Life LongLife Goal
ULIP Plans
  • Bajaj Allianz Life Insurance Smart Wealth Goal
  • Bajaj Allianz Life Insurance Future Gain
  • Bajaj Allianz Life Insurance Fortune Gain
  • Bajaj Allianz Life Insurance Future Wealth Gain
Child Plans
  • Bajaj Allianz Life Young Assure
  • Bajaj Allianz Life Long Assure
Investment Plans
  • Bajaj Allianz Life Assured Wealth Goal- Wealth Creation Plan
  • Bajaj Allianz Life Invest Assured
  • Bajaj Allianz Life Elite Assured
Group Plans
  • Bajaj Allianz Life Pradhan Mantri Jeevan Jyoti Bima Yojana
  • Bajaj Allianz Life Group Superannuation Secure
  • Bajaj Allianz Life Group Sampoorna Suraksha Kavach
  • Bajaj Allianz Life Group Credit Protection Plus
  • Bajaj Allianz Life Group Employee Care
  • Bajaj Allianz Life Group Term Life
  • Bajaj Allianz Life Group Employee Benefit
  • Bajaj Allianz Life Group Sampoorna Jeevan Suraksha
Health Care Plans
  • Bajaj Allianz Life Health Care Goal

Advantages and Disadvantages of Bajaj Allianz Life Insurance

Advantages of Bajaj Allianz Life Insurance

  • Bajaj Allianz’s life insurance company offers a higher cover amount at lower premium rates.
  • Bajaj Allianz Life Insurance Company is very smooth and the policy would be issued within the least possible time, within 1 day in some cases.
  • Bajaj Allianz life insurance offers a return of premium option with their term plans and ULIPs. 
  • Bajaj Allianz life offers a wide range of life insurance plans online.
  • Bajaj Allianz Life Insurance Co Ltd offers the flexibility to opt for Single, Limited, or Regular online premium payment options.
  • Bajaj Allianz life insurance offers coverage that continues up to 99 years of age.

Disadvantages of Bajaj Allianz Life Insurance

  • The disadvantage of Bajaj Allianz Life Insurance is that the premium can be expensive for some people.
  • Bajaj Allianz Life Insurance Policy will get lapsed for non-payment of premium within the grace period.

Aditya Birla Sun Life Insurance

ABSLI is a brand with a strong legacy of Aditya Birla Capital Group. The company offers a wide range of solutions and our life insurance policies will help you in meeting your Protection and Financial needs for every important stage of your life. Aditya Birla Capital Sun Life Insurance has experience of over 10 years, it has provided significantly to the growth and development of the life insurance industry in India, and Aditya Birla Sun Life Insurance company currently ranks among the top 7 private life insurance companies in India.

ABSLI Company was well known for its Product innovations as per customer's needs and commitment to customer service. Aditya Birla provides long-term value to its customers. Aditya Birla Sun Life Insurance term policies are the most selling life insurance plans due to the Coronavirus pandemic. Aditya Birla Sun Life Insurance Company has 10,000+ employees working to give the best services to their customers.

List of Aditya Birla Sun Life Insurance Plans

Type of Plan Aditya Birla Life Insurance Plans
Term Plans
  • Aditya Birla Sun Life Capital Life Shield Plan
  • Aditya Birla Sun Life  DigiShield Plan
  • Aditya Birla Sun Life Saral Jeevan Bima Plan
Pension Plans
  • Aditya Birla Sun Life Insurance Empower Pension Plan
  • Aditya Birla Sun Life Insurance Empower Pension – SP Plan
  • Aditya Birla Sun Life Insurance Saral Pension Pension – SP Plan
  • Aditya Birla Sun Life Insurance Guaranteed Annuity Plus
ULIP Plans
  • Aditya Birla Sun Life Insurance Wealth Infinia
  • Aditya Birla Sun Life Insurance Wealth Assure Plus
  • Aditya Birla Sun Life Insurance Wealth Max Plan
  • Aditya Birla Sun Life Insurance Wealth Secure Plan
  • Aditya Birla Sun Life Insurance Fortune Elite Plan
  • Aditya Birla Sun Life Insurance Wealth Aspire Plan
Child Plans
  • Aditya Birla Sun Life Insurance Vision Star Plan
  • Aditya Birla Sun Life Insurance Child Future Assured Plan
Savings Plans
  • Aditya Birla Sun Life Insurance Assured Income Plus
  • Aditya Birla Sun Life Insurance Vision LifeIncome Plus Plan
  • Aditya Birla Sun Life Insurance SecurePlus Plan
  • Aditya Birla Sun Life Insurance Guaranteed Milestone Plan
  • Aditya Birla Sun Life Insurance Assured FlexiSavings Plan
  • Aditya Birla Sun Life Insurance Vision MoneyBack Plus Plan
  • Aditya Birla Sun Life Insurance Vision LifeIncome Plan
  • Aditya Birla Sun Life Insurance Savings Plan
  • Aditya Birla Sun Life Insurance Vision LifeSecure Plan
  • Aditya Birla Sun Life Insurance Income Assured Plan
  • Aditya Birla Sun Life Insurance Vision Endowment Plus Plan
  • Aditya Birla Sun Life Insurance Jeevan Bachat Plan
  • Aditya Birla Sun Life Insurance Monthly Income Plan
Health Plans
  • Aditya Birla Sun Life Insurance Cancer Shield Plan
  • Aditya Birla Sun Life Insurance CritiShield Plan
Group Plans
  • Aditya Birla Sun Life Insurance Group Protection Plan
  • Aditya Birla Sun Life Insurance Group Income Replacement Plan
  • Aditya Birla Sun Life Insurance Pradhan Mantri Jeevan Jyoti Bima Yojana Plan
  • Aditya Birla Sun Life Insurance Group Asset Assure Plan
  • Aditya Birla Sun Life Insurance Group Bima Yojana Plan
  • Aditya Birla Sun Life Insurance Group Smart Select Plan
  • Aditya Birla Sun Life Insurance Guaranteed Annuity Plus Plan
  • Aditya Birla Sun Life Insurance Group CapSecure Plan
  • Aditya Birla Sun Life Insurance Group Capital Assured Traditional Plan
  • Aditya Birla Sun Life Insurance Group Unit Linked Plan
  • Aditya Birla Sun Life Insurance Group Value Plus Plan
  • Aditya Birla Sun Life Insurance Assured Pension Plan
  • Aditya Birla Sun Life Insurance Superannuation Plan

Advantages and Disadvantages of Aditya Birla Sun Life Insurance

Advantages of Aditya Birla Sun Life Insurance:

  • It offers High Life coverage at an affordable premium rates
  • It offers a wide range of products and services for both individuals and businesses
  • It offers tax benefits under section 80C of the income tax act, of 1961. 
  • It provides coverage up to 99 years of age by paying premiums for a limited period. 
  • The premiums can be paid on a monthly, quarterly, half-yearly, or annual basis as per your convenience
  • Aditya Birla’s term insurance offers complete flexibility in the tenure of the policy.

Disadvantages of Aditya Birla Sun Life Insurance:

  • Aditya Birla Sun Life Insurance can be expensive for old-aged people.
  • Aditya Birla Sun Life Insurance Company offers vast choices and gives you the liberty to choose the best, it can also create confusion in the minds of the policy buyer.

Comparison of Bajaj Allianz Life Insurance vs Aditya Birla Sun Life Insurance

Here are some of the key parameters based on which they differ from each other:

Parameter Bajaj Allianz Life Insurance Aditya Birla Sun Life Insurance
Claim settlement ratio 98.48% 98.04%
Solvency Ratio 7.65 1.78
Availability Online/Offline Online/Offline
Life Cover Up to 99 Years Up to 99 years
Number of Branches Available 506+ 340+
Premium Payment Term Regular Pay, Single Pay, Limited Pay Regular Pay, Single Pay, Limited Pay
Premium Payment Mode Yearly/Half-yearly/ Quarterly/ Monthly Yearly/Half-yearly/ Quarterly/ Monthly
Riders Available
  • Accidental Death Rider
  • Accidental Permanent Disability
  • Premium Waiver Rider
  • Critical Illness Benefit
  • Family Income Benefit Rider
  • Accidental Death Benefit Rider
  • Wavier of Premium Rider
  • Hospital Care Rider
  • Critical Illness Rider
  • Group Insurance Benefit Rider
E-services
  • Claim Assistance
  • Pay Premiums
  • Download Statements
  • Track Application
  • Buy Policy
  • Renew Policy, etc.
  • Buy Policy
  • Update Information
  • Pay Premiums
  • Download Statements
  • Claim Settlement
  • Reinstate Policy
  • Fund Switch,
  • Know Policy Details
  • Application Tracker, etc.

Conclusion

It's important to do proper research before you make a decision. Good research will help you understand the pros and cons of both the policies and help you make an informed decision. Bajaj Allianz life insurance and Aditya Birla sun life insurance are both good options for people who want to buy life insurance. Both companies also offer a range of plans and coverages, which makes them good options for different people.

To make a better decision, you should make sure that you have all the information about life insurance companies available in the market. However, this decision has become much easier with the help of PolicyBachat. To buy the best life insurance policy compare life insurance quotes and get the right life insurance policy.

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