Bajaj Allianz Life Insurance Benefits

Bajaj Allianz Life Insurance has the following unique features:

• Claim Settlement Ratio (CSR): The company has a high CSR of 99.04%, which shows that its insurance is reliable and trustworthy. This percentage is an important measure of the company's dedication to resolving disputes quickly and effectively.
• Innovative Solutions: Bajaj Allianz Life is recognised for introducing new insurance solutions, such as Return of Mortality Charges (RoMC). This part of the policy guarantees that the death charges taken out to cover the policyholder's family will be returned to them when the policy matures, making their investment worth more.
• Flexible Premium Payment Options: Policyholders can select the most appropriate premium payment frequency based on their financial situation, such as annually, semi-annually, monthly or quarterly. This gives the customers the freedom to better handle their premium payments and other financial obligations.
• Nominee Selection: Policyholders can appoint one or more persons to receive life insurance payments in the case of their untimely death during the policy's term. This feature guarantees that policy benefits are transferred to the appropriate persons or beneficiaries in the case of the policyholder's death.
• Flexible Policy Term: Policyholders can choose a policy term from a few years to several decades, depending on their family needs and financial goals. This flexibility allows customers to plan for their financial future more effectively.

The following are the benefits of buying Bajaj Allianz Life Insurance:

• Variety of Plans: Bajaj Allianz Life provides a diverse selection of life insurance and investment plans, including lump sum benefits and entire life coverage. This allows customers to select the plan that best meets their requirements and financial goals.
• Financial Stability: Bajaj Life Insurance provides excellent customer service and believes in maintaining long-term relationships with policyholders. Their dedicated customer service team uses technology-driven solutions to enhance the overall customer experience and satisfaction. The company aims to manage customer queries and handle claims efficiently. Hence, offer more personalised support throughout the policy term.
• Maturity Benefits: When a policy reaches its end date/maturity, the people who have the insurance receive a set amount of money. This means that when the insurance policy is over, they get a big lump sum payment all at once. This helps them save money for the future.
• Tax Break: If the policyholder meets certain tax requirements, they may be able to get tax benefits on their life insurance premiums. In addition to helping policyholders save money, this feature lowers their taxable income.
• Sum Insured: Policyholders can select the sum insured that best meets their financial needs and liabilities. This allows policyholders to customise their coverage to meet their specific needs and financial goals.

Ques. 1: What is the guaranteed benefit at the end of the term of Bajaj Allianz Life Insurance?

Ans. The Guaranteed Maturity Benefit in Bajaj Allianz Life Insurance depends on the chosen plan. The guaranteed benefit in the Flexi Income Goal plan is 100% of the sum assured, whereas the Guaranteed Income Goal plan is a higher percentage of the sum assured.

Ques. 2: Can I cancel my Bajaj policy before it expires?

Ans. Bajaj Allianz Life Insurance policies can be surrendered before maturity, but this may result in penalties or a loss of benefits. Policy cancellations are free and can be done online during the free-look period.

Ques. 3: Who can get Bajaj Allianz Life Insurance?

Ans. Bajaj Allianz Life Insurance eligibility criteria include being an Indian citizen, aged between 18 and 90 years, having medical test reports, not being a smoker, and submitting required documents such as age proof, address proof, identity proof, and a passport-sized photograph. The specific eligibility criteria may vary depending on the insurance plan.

Ques. 4: Can we rely on Bajaj Allianz Life Insurance?

Ans. Bajaj Allianz Life Insurance is a reputable insurance company in India, a joint venture between Bajaj Finserv Limited and Allianz SE. It has a CSR of 99.04%, which means it is committed to resolving customer queries and improving customer experiences.

Ques. 5. When can Bajaj Allianz Life Insurance claims be filed?

Ans: Bajaj Allianz Life Insurance claims usually take 2-6 weeks to settle, 3-6 months for disability claims, and 30 days for claims requiring investigation. The time limit varies based on the nature of the insurance plan and claim.