Bajaj Allianz Term Insurance
|Claim Settlement Ratio||98.48%|
|Customer Care||9:00 AM to 7:00 PM|
|Death Benefit Paid For||11,887 Policies|
|Total Death Benefit Paid||Rs. 310.71 Crore|
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Bajaj Allianz Term Insurance Plan List
|Name of Plan||Sum Assured|
|iSecure Plan||20 lac - 10 cr||Check Premium|
About Bajaj Allianz Term Insurance
Bajaj Allianz Term Insurance plans will protect your loved ones against uncertainties. The nominees of term life insurance plans receive a death benefit in the event of the demise of the life assured. Individuals who plan to secure the future of their dependents can buy term plans from Bajaj Allianz Life Insurance.
Benefits of Bajaj Allianz Term Insurance Plan
Bajaj Allianz Life Insurance is one of India's best life insurance companies. The company serves its policyholders with unique features and benefits. Here’s a list of some of the benefits of Bajaj Allianz Term Plans:
- Hassle-Free Claim Settlement: Bajaj Allianz provides a quick and seamless claim settlement process to its policyholders. You can settle claims for your term insurance plans within a day if you provide all the documents thoroughly.
- Enhanced Coverage: The policyholders of the Bajaj Allianz Term Plans can provide comprehensive protection to their loved ones. This means you can buy various add-ons such as a critical illness rider, a premium of waiver rider, and others with your term life insurance plans. However, the policyholders may have to pay an additional premium to buy term insurance riders.
- Wide Network: Bajaj Allianz Life Insurance has a nationwide network. In case of any offline assistance related to claims, policy documents, renewals, and others, the policyholders can visit the branch office of the company. At present, there are over 500 branch offices of Bajaj Allianz Insurance.
- Multiple Payout Options: A nominee or beneficiary of Bajaj Allianz Term Plans are eligible for a death benefit in case of the policyholder’s demise. Therefore, a nominee has the option to select a death benefit payout option. You can either receive the benefit in a lump sum or regularly as a monthly payout.
- Tax Benefits: A premium paid by the policyholders against term insurance plans is tax-free under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
Best Bajaj Allianz Term Insurance Plans 2023
Bajaj Allianz provides a wide variety of term life insurance plans to its policyholders. The table below highlights some of the best term plans in which you can invest to secure the future needs of your loved ones.
Term Insurance Plan
Sum Assured (Min)
Bajaj Allianz i-Secure Term Plan
18- 60 years
28- 70 years
10- 30 years
Rs. 2 lakhs- no limit
Bajaj Allianz Life Saral Jeevan Bima
N/A- 70 years
5 years- 40 years
Rs. 5 lakhs- Rs. 25 lakhs
Bajaj Allianz Life e-Touch Online Term Plan
18- 65 years
28- 99 years
10- 80 years minus the entry age
Rs. 50 lakhs- no limit
Bajaj Allianz Smart Goal Protect Term Plan
18- 65 years
85 years- 99 years
10- 85 years minus the entry age
Rs. 50 lakh- N/A
Process to Buy Bajaj Allianz Term Insurance Plans
You can easily buy Bajaj Allianz Term Insurance Plans online. Here’s a step-by-step guide that you can follow:
- Visit the official website of Bajaj Allianz Life Insurance.
- Click on “Term Plans” under the “Term Insurance” Section.
- Hit the “buy now” tab.
- Fill in the required details.
- Click the “Next” button to view a list of term life plans.
- Select the term plan that you want to purchase.
- Customize your plan as per your specific needs.
- Make a premium payment online to complete the purchase.
Documents Required to Buy Bajaj Allianz Term Insurance Plans
Anyone who wants to buy Bajaj Allianz Term Insurance Plans will require the following documents:
- ID proof
- Income proof
- Address proof
- Recent passport-size photographs
- Age proof
Riders Available Under Bajaj Allianz Term Insurance Plans
Riders are add-on benefits that term insurance companies provide to their policyholders. You can buy these riders with your base term plan to enhance its coverage. Here’s a list of some rider options available under Bajaj Allianz Term Insurance Plans:
- Accidental Death Benefit Rider: In case of the accidental death of the policyholder, a term insurance company will pay an additional benefit along with a regular sum assured to the nominee.
- Accidental Partial or Total Disability Rider: If the policyholder is partially or totally disabled due to an accident, this rider will provide regular income benefits to them. In simple terms, this rider will financially help you during uncertain times like total or partial disability.
- Critical Illness Cover: This rider benefit provides financial protection against critical illnesses like cancer, kidney diseases, heart attack, and others. You can claim your critical illness cover add-on if you get diagnosed with any critical illness during the policy tenure.
- Premium of Waiver Rider: The policyholder pays a premium in exchange for insurance cover to the policyholder. With this rider, the Bajaj Allianz Term Insurance company will waive off all the future premiums that need to be paid if the life assured dies during the policy tenure.
Exclusions Under Bajaj Allianz Term Insurance Plans
Bajaj Allianz Term Life Insurance Plans come with some exclusions. This includes the death of the policyholder that happened due to suicide. An insurance company will pay 80% of the premium paid by the life assured till date.
Bajaj Allianz Term Insurance Plans Claim Settlement Process
The Bajaj Allianz Term Insurance claim settlement process is quick and easy. The high claim settlement ratio of 99.04% of the company makes it recognized as the best-term insurance company in India. Continue reading to find out a detailed guide on how to claim Bajaj Allianz term plans.
Documents Required To Claim Bajaj Allianz Term Insurance
- Intimation letter
- Death certificate
- KYC of the nominee
- Bank details of the nominee
- Original policy document
- FIR copy in case of accidental death
- Post-mortem report (if happened)
- Medical and other diagnosis reports
Steps You Should Follow To Claim Bajaj Allianz Term Insurance
- Inform Bajaj Allianz Insurance about the happening of the event.
- Submit all the necessary documents asked by an insurance company.
- The insurer will verify the documents that you submit. In some cases, an investigating officer might visit the hospital for verifying the information provided by you.
- Once this process is completed, Bajaj Allianz will either settle the claim or might reject it in case of dissatisfaction.
The policyholders of Bajaj Allianz Term Plans can contact the customer support team online or offline. For online assistance, you can visit the official website of the company. And, in case of offline customer support, you can either write to firstname.lastname@example.org or call the toll-free number 1800209 7272.
Popularly Opted Term Insurance Sum Assured
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Claim Process at Bajaj Allianz Term Insurance
Claim IntimationIn the case of death of the life assured, a claim intimation to the insurance company must be made as early as possible.
Submission of DocumentsClaim form, death certificate, original policy document, and more documents must be submitted to ensure smooth claim settlement.
Claim EvaluationOnce the documents are submitted, the insurance company will conduct thorough evaluation of the claim filed.
Claim SettlementIf claim request is approved, claim settlement is done within 30 days. If additional investigation is required, it make take 6 months.
Why to Buy Term Insurance Policy Online from InsuranceDekho
- Tax benefit upto 1,50,000*
- Claim support everyday 10AM-7PM
- 50 Lacs+ happy customers
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FAQ About Bajaj Allianz Term Insurance
What benefits will I get if I buy term insurance?
Some of the benefits that you get on buying term insurance include affordable premium, return of premium option, flexibility in premium payment, death benefit, flexible policy terms and more.
Why should I buy term insurance from Bajaj Allianz?
You should choose Bajaj Allianz to buy a term insurance plan to make the most of benefits like high CSR (98.02%), vast network across the country, large product variety with excellent features, prompt claim settlement and more.
Can I buy a joint term insurance plan with my spouse?
Yes! You can choose Bajaj Allianz Life Smart Protect Goal policy that will help you avail the benefit of joint cover for you and your spouse.
Which are some of the Bajaj Allianz term insurance plans that I can buy online?
Life Smart Protect Goal, eTouch Online Term, and iSecure are some of the Bajaj Allianz term insurance plans that you can easily buy online.
What is the toll-free number of Bajaj Allianz Life Insurance?
Toll-free number of Bajaj Allianz Life Insurance is 1800-209-7272.
Bajaj Allianz Term Insurance Contact Details
Insurance Dekho755 1196 989Mon to Sun 10:00 AM to 7:00 PM
Bajaj Allianz Term Insurance1800-209-7272Mon to Sat 9:00 AM to 7:00 PM