There is so much choice in Insurance. Getting the best deal is far more easier now, thanks to comparison options available online.
The joint initiative between Allianz SE and Bajaj Finserv Limited is called Bajaj Allianz Life Insurance Co. Ltd. This joint venture combines international expertise along with the local experience. These organizations benefit from holding the reputation of strength, expertise and stability. With Online Bajaj Allianz Life Insurance, you get extensive insurance solution and experience and technical proficiency from Allianz SE along with in-depth marketplace knowledge and trust of the "Bajaj" brand. Competitive prices and honest responses have made the firm a favorite among customers.
They have managed to gain the customer's faith in addition to market superiority in a relatively short time frame. Customer’s delight is the guiding principle at the firm. They offer customized insurance products along with completely transparent benefits and the incorporation of latest technology. This is the firm’s business philosophy. The life insurance plans offered by Bajaj Allianz cater to the needs of every age-income groups and segments. The company’s insurance solutions portfolio is quite strong, and it caters to different types of consumer needs ranging from Child plans to ULIPs, from individual health insurance to group insurance. The company’s vision is to be ‘nation’s best insurance firm to buy insurance plans from, invest into and work for’. The tagline of the company is ‘Jiyo Befikar’.
Formal operations began in 2001. There are more than 600 branches spread out across different parts of the nation.
The firm has won a large number of accolades such as-
The claim settlement ratio is 98.1%, and the solvency ratio is 793%. The firm provides insurance plans to lakhs to consumers across the nation.
The various plans offered by the firm are-
Below is a list of the key advantages that Bajaj Life Insurance Policy has over its competitors.
1. Trust- Bajaj Allianz is a name you can trust. It is not a startup or a recently established venture. It has had its day in the Sun for almost two centuries
2. Grievance Redress- Bajaj Allianz sets very high standards in this regard. In the 2015-2016 year, over 98% of the grievances were settled.
3. Claim Settlements- What good is an insurance plan that promises a lot but delivers nothing. Bajaj Allianz Life Insurance has a very high claim settlement ratio. The ratio was over 95% for the 2015-2016 year.
4. Customer support- The company provides reliable customer assistance to its customers and prospective customers.
The firm Bajaj Allianz Life Insurance offers the below-mentioned plans:
Bajaj Allianz Term Insurance Plans
Investment Insurance Plans
Micro Insurance Plans
Group Insurance Plan
Unit Linked Insurance Plans
Listed below are details of various Life Insurance plans from Bajaj Allianz Co Ltd
Minimum Age for Policy purchase(years completed) | 18 |
Maximum Age for policy purchase (years completed) | 65 |
Maturity Age (years) | 75 |
Maturity | Min-28, Max- 75 |
Policy Term (in years) | Minimum- 10, Maximum- 40 |
Term for Premium payment | Quarterly, monthly, bi-annually, annually |
Minimum value of Sum Assured (in INR) | 50000 |
Benefits
Eligibility
Minimum Age for Policy purchase(years completed) | 25 |
Maximum Age for policy purchase (years completed) | 55 |
Premium (INR) | Min- 36720 (on yearly payment), Max- No ceiling |
Policy Term (in years) | 100 years – age on entry |
Term for Premium payment | Quarterly, monthly, bi-annually, annually |
Minimum value of Sum Assured (in INR) | 20 lacs |
Minimum Age for Policy purchase(years completed) | 18 |
Maximum Age for policy purchase (years completed) | 50 |
Premium (INR) | Min- 1466 (on yearly payment) |
Policy Term (in years) | Minimum - 5, Maximum - 20 |
Term for Premium payment | Quarterly, monthly, bi-annually, annually |
Minimum value of Sum Assured (in INR) | 3 lacs |
Features and advantages-