Limited and regular premiums, depending on the duration of your term are easier on the pocket and offer more flexibility. Q. There are basically 3 cash installment options. It provides six annuity options to select from. Options: Smokers, Non-smokers and Preferred Non-smoker categories for payment of premium, if sum insured is above ₹ 20 lakhs. In case an insured is diagnosed with a terminal illness, the benefits would be same as those for a death benefit and the insured can opt for a lump sum option and use it for any advanced treatment. We Would love to interact with you, Max Life Insurance launches Covid-19 Rider, ICICI Prudential Life Insurance Policy Status. Unlimited free switches with the option of seven funds. Description: Individual/ joint Level term life insurance cover at low premium cost. The plan provides the option to get the benefits of maturity in installments. The terminal illness has to be diagnosed by 2 separate medical specialists in the field and should be intimated to the insurer within 3 months of diagnosis. Otherwise, you may contact your insurance agent to renew your policy. You may choose your term insurance plan with return of premium, where you will be guaranteed to receive the amount you paid as premium for the entire term, if the insured lives till the end of the policy term. The plan gives the option to change the frequency of premium payment. What add-on covers are available with Bajaj Allianz Life Insurance policies? Bajaj Allianz Life Insurance has a range of plans that provide financial support to the nominee in the case of sudden demise of the policyholder. Bajaj Allianz Young Assure accompanies an in-fabricated premium waiver highlight if there should be an occurrence of a disastrous occasion. Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Finserv Limited 74% and Allianz SE 26% as on 31st March 2013. Any other document that the insurer may deem necessary for successful processing of the claim, depending on the circumstances (on a case-by-case basis). Accelerated critical illness benefit is paid after the illness is diagnosed, but that amount would be deducted from the overall sum insured (death benefit), in case the illness leads to death. The Dental Treatment and Plastic Surgery expenses are covered in Bajaj Allianz Arogya Sanjeevani policy if in case it is needed due to any other disease. For non-smokers and medically fit people, the plan offers discounted rates. However, the premium to be paid will go down on death of one of the members and the reduced premium will be based on the age, life style category, chosen policy term and frequency of premium payments. This plan offers a choice of two life covers – Assure and Income. Any changes in the Car Insurance cost over the past year will … Ans: In a joint life cover, each life is covered to a certain amount and only that amount will be payable on the death of a single member. The plan provides life cover till the policyholder becomes 100 years old. Enter the policy number, the details related to your policy will be displayed on the screen. Term Plans – Offline vs. Online Insurance agents are responsible for selling term plans; however, they have to deal in a competitive environment where prices are different for both online and offline plans. special arrangements made for valued customers at 53 cities. This company offers products like Motor Insurance, Health Insurance, Travel Insurance, Home Insurance, etc. The eTouch online term plan is a customizable plan with 3-in-1 protection benefits that cover all the 3Ds of life – death, disease and disability, and that too at a competitive price and pliability to choose from a 40-year long tenure. Permanently Unable to Work cover. You can check your claim status by visiting the official website of Bajaj Allianz and entering the claim reference number provided at the time of claim registration. How to Pay Bajaj Allianz Life Insurance Premium? Minimum of ₹ 50 lakhs; Maximum of ₹ 2 crore for ADB or ATPDB and ₹ 75 lakhs for ACI benefit, Aditya Birla Sun Life Term Insurance Plans, Future Generali India Term Insurance Plans, Things to consider While Buying a Term Insurance Plan, A Ultimate Guide to Buy Term Life Insurance Plan, Benefits of long-term Term Insurance Plans, Important Questions to Ask Before Buying a Term Insurance Plan, 6 Reasons Why Term Insurance is a Must Buy, term insurance plan with return of premium. Heart valve repair, angioplasty, carotid artery surgery, early cancer, removal of kidney, ulcerative colitis, cardioveter defibrillator implantation, liver cirrhosis etc. A written notice has to be furnished to the insurer within 180 days about the death and the circumstances leading to the death of the insured for the claim to be valid. The insurance plans under this category are of low cost yet provide disciplined savings. Bajaj Allianz life insurance provides insurance cover for more than 3.5 Crore lives and is currently one of the leading players in the Indian general insurance sector. For making payments of the premium online, a policyholder has to click the button saying ‘Pay Your Premium’ that appears on the website of the company. The plan provides financial security to the family of the policyholder by offering regular income. The tax benefits are provided as per Section 80C and 10D of the Income Tax Act, 1961. The policyholder has the right to alter the mode of premium payment. If there is no claim, then the insurer will refund your premium on a pro-rata basis. Bajaj Finserv is a financial service provide in India and currently provides services in life insurance, finance, and general insurance. As per the guidelines, it is now compulsory for a policyholder to update his/her Aadhar number against the life insurance policy that he/she has taken. Q. The main reasons for claim rejection are: A. The policy document serves as a receipt of insurance purchase and brings transparency between the insurance company insured individuals. Income Tax exemption is an additional advantage offered by these plans. Regular payment term life insurance plan with no return of premium option (no maturity benefit). The plan also offers bonuses in order to enhance savings. Standard health insurance exclusions such as a waiting period of 4 years, alcohol related diseases, congenital diseases, self-inflicted injuries, psychiatric illnesses, illness due to war like actions, flying accidents, participation in hazardous activities or a criminal activity apply for the critical illness benefit and are not covered. A suitable disaster protection arrangement is a perfect approach to secure our family's future. Written By: PolicyBazaar - Updated: 12 November 2020. If a non-smoker is in perfect physical health, is not any risky occupation which may cause him to smoke at a later date would be classified by the insurer as ‘Preferred Non-smoker’. The plan provides guaranteed cash back till the policyholder reaches to the age of 99 years. *In case of monthly premiums, installments for 3 months need to be paid at the start of policy. Get 1 Cr Term insurance starting @ just ₹ 490/month, Get 1 Cr Life insurance starting @ just ₹ 490/month, Get ₹ 5 Lac Health insurance starting @ ₹ 300/month. Sign up our newsletter and get email about term plans. Life insurance plans from Bajaj Allianz Life - get all types of life insurance plans - ULIP Plans, Term Insurance Plans, Pension Plans etc., at affordable premiums to get your Life Goals Done. A list of diseases are provided by the insurer which qualify as minor and major critical illnesses separately. Q. The plan also offers accelerated cancer cover. 3000 crore new business in the current financial year while focusing on increasing its own share in the company to 50 percent, which slipped over to 32 percent in the past a few years. People in India lack the key information about life insurance policies, which they need in order to protect themselves and their families. Child plans helps you accumulate good amount of money which you can earmark for your child’s future be it education or marriage. • Visit the customer portal of Bajaj Allianz• Go to the ‘Change Policy Details’• Provided policy number and click on ‘Change in Address ‘option• Provide the required changes and update the new address, • Bajaj Allianz Critical Illness Benefit Rider• Bajaj Allianz Waiver of Premium Benefit Rider• Bajaj Allianz Accidental Death Benefit Rider• Bajaj Allianz Accidental Permanent Total/Partial Disability Rider• Bajaj Allianz Family Income Benefit Rider, • Bajaj Allianz ULIP Accidental Death Benefit Rider• Bajaj Allianz ULIP Family Income Benefit Rider• Bajaj Allianz ULIP Accidental Permanent Total/Partial Disability Benefit Rider• Bajaj Allianz ULIP Waiver of Premium Benefit Rider• Bajaj Allianz ULIP Critical Illness Benefit Rider, • Bajaj Allianz Life Group Accelerated Critical Illness Rider• Bajaj Allianz Life Group Accidental Death Benefit Rider• Bajaj Allianz Life Group Accidental Permanent Total/Partial Disability Benefit Rider, • If someone presented false information and the insurer knows about it later• If someone forgets to pay the life insurance premium on time and if the policy lapses• If the situation is not covered by the policy for which the claim was made• In case the name of the nominee was not updated in the policy. Canceled cheque with the name of the policyholder on it. The new plan provides assured returns equal to at least 101% of the total premiums paid regardless of the ups and downs of the market. It also offers joint life insurance coverage for the spouse of the policyholder. Unit Linked Insurance Plan (ULIP) is a life insurance policy which provides a combination of risk cover and investment. This plan also offers critical illness cover. The plan assures a monthly income for 144 months. Statement of NRE bank reflecting any paid premiums from the NRE account. The microinsurance plans provided by Bajaj Allianz Life Insurance Company are: • To renew your policy offline, you need to visit a branch office or Bajaj Allianz Life Insurance and pay the due premium. Policybazaar does not in any form or manner endorse the information so provided on the website and strives to provide factual and unbiased information to customers to assist in making informed insurance choices. As money back it offers a maximum of 150% of the sum assured. Aiming at making people aware of how beneficial life insurance can be in an unforeseen event, the insurance company conducted a similar roadshow last year as well. The following riders are available for traditional individual plans: A. Ans: Yes. Note: Premium Payment shall be made by the Policyholder of the Policy. Your bike insurance will be active and you can continue to earn its benefits; Offline Renewal for your Bajaj Two Wheeler Insurance Policy. The digitally signed bike insurance cover can help you show the insurance policy in the absence of insurance coverage. You may be paying less as a lump sum single premium. This is because a growth at the rate of 4% is applied on one year’s premium at the time of maturity, if the duration of the policy is about 10 years and if the term of the policy is over 10 years the growth rate applied is 15 %. The plan provides a rebate for the policyholders with high sum assured. IRDAI/WBA21/15 Valid till 13/07/2021. Subrat Mohanty, head of marketing, Bajaj Allianz said that the company aims at a profit of Rs. These are low risk investment plans which provides guaranteed amount on maturity. This joint venture Company incorporates global expertise with local experience. This business tie-up between these two financers will also be beneficial for the customers of Dhanlaxmi bank as all the Bajaj Allianz life insurance products will be easily available for them from now on. The death benefit is also offered in this plan which is equivalent to 300% of the total sum assured. o Bajaj Allianz Invest Gain Gold: With double protection with Death Benefit = 2 times Sum Assured. Important feature of LifeStyle Secure Plan. Q: Can the riders be opted for one person in the joint life? The plan provides guaranteed additions of a maximum of 63% of the sum assured upon maturity. Upon maturity, the plan returns the mortality charges in the cases of Limited/ Regular Premium policies. Product information is authentic and solely based on the information received from the Insurer© Copyright 2008-2021 policybazaar.com. Death due to an external accident within 180 days of the occurrence of the event and confirmed by autopsy. With the Insurance Amendment Act enabling insurance intermediaries to share the same space with insurance companies under the FDI sphere, a foreign direct investment of upto 49 per cent will be allowed in both intermediaries and insurance companies. Q. The agent would be better placed to help you choose the best policy plan that meets your needs and get the most benefits. Bajaj Allianz Life Retire Rich: It is a unit-linked pension plan that provides the following key features: The plan offers guaranteed benefits of vesting. This pension plan gives an option wherein the policyholder can cover his/her spouse. Term plans nowadays provide policyholders with the options that protect them against inflation with an assurance to increase the Sum Assured at certain intervals. The plan provides a rebate for high sum assured policyholders. Bajaj Allianz will not be responsible or involved in monetary assistance or transactions what so ever and bills needs to be settled by you. Claims . The company has also been awarded the "SKOCH Financial Inclusion & Deepening Award 2014" in the Platinum Category, for their Excellence in the Life Insurance Industry. , Non-smokers and preferred Non-smoker categories for payment of premium option ( no maturity benefit 20. Policy anniversary to exercise the switching option post hospitalization expenses along with pre post. 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