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Does Bajaj Allianz Life Insurance offer ‘Riders’?
Bajaj Allianz Life Insurance offers an option to add the additional benefit riders in your insurance plans to enhance the protection from uncertainty of life.
Are medical tests necessary while purchasing a life insurance policy?
If your age is above the minimum age limit set by the insurance company, then you will have to go through a medical test.
Does Bajaj Allianz Life Insurance offer a ‘Free-look Period’?
Bajaj Allianz Life Insurance Company offers a 15 days free-look period in which the policyholder can review the policy. The policyholder needs to provide appropriate reasons for cancelling the insurance policy within 15 days from receiving the policy documents.
What are the different options available to pay the premium?
Insurance companies provide several options for premium payment. You can choose to pay monthly, quarterly, semi-annually, or annual payment options. Some insurance plans are available with a single premium.
How to get a duplicate copy of my Bajaj Allianz Life Insurance Policy?
If the original policy document is lost or destroyed in any case then the policyholder needs to make a request to Bajaj Allianz Life Insurance to issue a copy of policy documents. The copy of policy documents is issued with an endorsement showcasing issuance after the loss or destruction of original documents.
Does Bajaj Allianz Life Insurance plans cover death due to COVID-19?
Yes, Bajaj Allianz Life Insurance plans cover death caused by COVID-19. The plans offered by Bajaj Allianz Life Insurance also cover hospitalization expenses that take place while COVID-19 treatment.
Can I submit the claim documents online ?
No, the claimant has to submit the claim form and required documents at any Bajaj Allianz Life Insurance branch only.
How much time does Bajaj Allianz Life Insurance take to settle a claim?
Bajaj Allianz Life Insurance takes 30 days to deliver the claim decision. If the claim requires any type of investigation it may take 120 days for the claim to be settled.
How will I receive the claim payout ?
The claimant will receive the claim payout through electronic funds transfer and will directly be transferred to the claimant’s bank account.
What is the right time within which the claim has to be reported?
The claim should be reported by the earliest for smooth processing of the claim.
Why should I choose Bajaj Allianz Life Insurance?
Bajaj Allianz Life Insurance offers a wide range of insurance plans and Bajaj Allianz Life Insurance has been one of the leading life insurance providers in India. Bajaj Allianz Life strives to provide the best comprehensive budget friendly insurance plan. Bajaj Allianz Life Insurance has featured a high claim settlement ratio of 98.02% in the FY 2019-20.
What all plans does Bajaj Allianz Life Insurance offer?
Bajaj Allianz offers a wide range of insurance plans such as Term Insurance, Unit-Linked Insurance Plans, Child, Retirement, Investments, Savings and Health Insurance plans. Bajaj Allianz also offers a vast array of riders for added protection.
Is it safe to purchase Bajaj Allianz Life Insurance plan online?
Bajaj Allianz provides life insurance plans online and offline. Purchasing a Bajaj Allainz Life insurance plan is very convenient and requires minimum paperwork. Purchasing the life insurance plan online not only saves time but saves one from the hassle of visiting the insurance company. It also provides real-time tracking.
What are the benefits of purchasing Bajaj Allianz Life Insurance plans?
Bajaj Allianz Life strives to provide the best comprehensive budget friendly insurance plan. Bajaj Allianz Life offers an option to enhance the insurance policy life cover by adding riders. Bajaj Allianz Life also offers 24x7 digital customer assistance and the insurance company has robust customer care service both online and offline.
Which is the best insurance plan by Bajaj Allianz Life Insurance?
All the insurance plans are different from each other and have different features and advantages. However, among all the life insurance plans provided by Bajaj Allianz, the utmost preference of one and all is Term Insurance Plan as it gives high coverage at minimal premium.
Does Bajaj Allianz Life allow the change of premium payment frequency for insurance plans?
The policyholder can choose to change the premium payment frequency any time during the premium payment details by submitting a duly signed request form at the Bajaj Allianz Life branch office.
What are the KYC documents required to purchase a Bajaj Allianz Life insurance plan?
Following are the documents required to purchase a Bajaj Allianz Life insurance plan:
- Applicant’s Age Proof
- Applicant’s Address Proof
- Applicant’s Photo ID Proof
- Applicant’s Passport Size Photographs
- Applicant’s Income Proof
- Applicant’s Medical Records
Does Bajaj Allianz Life Insurance offer tax benefits on the insurance plans?
Yes, Bajaj Allianz Life Insurance offers tax benefits on the life insurance plans. Under Section 80C of the Income Tax Act, premiums paid towards a life insurance policy qualify for a deduction up to Rs.1.5 lakh. Also under Section 10(10D), income received from a life insurance plan on maturity is tax-free if the premium is not more than a certain amount of the sum assured.
What is the age limit to purchase Bajaj Allianz Life Insurance plans?
Anybody from the age group between 18-25 years can apply to purchase Bajaj Allianz Life Insurance plans.
What are the riders offered by Bajaj Allianz Life Insurance?
Bajaj Allianz Life Insurance offers various additional optional riders that are Bajaj Allianz Waiver of Premium Benefit Rider, Bajaj Allianz Family Income Benefit Rider, Bajaj Allianz Accidental Death Benefit Rider, Bajaj Allianz Critical Illness Benefit Rider and Bajaj Allianz Accidental Total/Partial Disability Rider.
Does adding any riders to my insurance plan increase the premium?
By adding any of the optional additional riders to insurance policy you increase the premium amount because each additional rider provides additional benefits at a little extra cost.
What are the factors that affect the premium calculation for Bajaj Allianz life plans?
Factors that affect premium calculation for term insurance plans are Age, Gender, Medical History, Geographic location, BMI Index and lifestyle of a person who is purchasing the insurance plan.
Can personal habits like smoking and consuming tobacco/alcohol affect the premium of an insurance plan?
The premium for smokers and tobacco/alcohol consumers are generally higher because any individual who consumes tobacco/alcohol are considered in the high-risk category. The premium varies for tobacco/alcohol consumers and non tobacco/alcohol consumers.
Will the premium amount increase after I have purchased the policy?
The ‘Basic Premium Amount’ will remain constant throughout the term of policy. However, the renewal premiums will change due to taxes and change in premium payment frequency.
What are the riders offered by Bajaj Allianz Life Insurance?
Bajaj Allianz Life Insurance offers various additional optional riders that are Bajaj Allianz Waiver of Premium Benefit Rider, Bajaj Allianz Family Income Benefit Rider, Bajaj Allianz Accidental Death Benefit Rider, Bajaj Allianz Critical Illness Benefit Rider, etc.
Latest News on Bajaj Allianz Life Insurance
- Future Gains is a unit-linked insurance product offered that allows customers to build money for the future. It accomplishes this by investing the premiums you pay in the stock and bond markets. It also includes features like as flexible premium payment c
- A money back life insurance policy provides a two-sided advantage of life insurance as well as a savings component. If the policyholder dies within the active policy period, the money back plan pays the death benefit to the nominee/beneficiaries named in
- Bajaj Allianz Future Gain is a Bajaj Allianz Insurance Firm Unit Linked Endowment policy. By investing in equities and financial securities, the policy helps subscribers to accumulate wealth with their contributions.
- As the name implies, spousal term insurance allows you to insure yourself and your spouse under one policy. These are complete protection insurance that provide many advantages to both the insured husband and wife.
- A term insurance is one of the most popular types of insurance scheme in the market. Term insurance is a protection for your family. It pays a certain sum to take care of your family's financial needs in case of your unfortunate demise.
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Life Insurance News
A money back life insurance policy provides a two-sided adva...05 January 2022
Future Gains is a unit-linked insurance product offered that...05 January 2022
Bajaj Allianz Future Gain is a Bajaj Allianz Insurance Firm ...08 December 2021
As the name implies, spousal term insurance allows you to in...30 November 2021
A term insurance is one of the most popular types of insuran...16 November 2021
Bajaj Allianz Life Insurance User Reviews
Claim Process at Bajaj Allianz Life Insurance
Claim IntimationIn the event of the death of the life assured, the insurance company should be intimated as early as possible.
Submission of DocumentsFor easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
Claim EvaluationAfter successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
Claim SettlementIf claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.