Bajaj Life Insurance

About Bajaj Life Insurance

Bajaj Life Insurance is one of India’s dynamic private life insurers, operating as part of Bajaj Finserv Limited. It was earlier known as Bajaj Allianz Life Insurance Company Limited and has over 20 years of experience serving Indian policyholders. The company was originally set up in 2001 and has a strong presence across India with a broad portfolio of life insurance products.

Bajaj Life Insurance offers a full range of products — from term insurance to ULIPs, savings plans, retirement solutions and child plans, making it a one-stop choice for life protection and financial planning.

Popular Plans of Bajaj Life Insurance

The following are some of the most popular Bajaj life insurance plans in India in 2026:

Please note the following important points related to Bajaj Life Insurance 2026:

• Plans with “No limit” under maximum sum assured mean coverage is based on underwriting eligibility (age, income, health), common for ULIPs and term plans.
• Minimum sum assured based on “multiples of premium” is a typical industry practice for ULIP/savings plans (e.g., 7× annual premium).
• Entries marked with approximate ranges reflect typical design ranges observed across multiple Bajaj Life products.

Benefits of Choosing Bajaj Life Insurance

Listed below are the benefits of choosing Bajaj Life Insurance plans -

• Trusted Legacy: Built on decades of experience and trust in India’s financial sector.
• Wide Range of Plans: Term, ULIPs, savings, retirement and child plans.
• Flexible Coverage: Options to tailor benefits and riders based on needs.
• Strong Claim Support: Efficient claim processing and high claim settlement ratios historically.
• Digital Convenience: Purchase, manage policy, and pay premiums online with ease.
• Innovative Features: Investment options like ULIPs with flexible funds and wealth creation solutions.

Tax Benefits of Bajaj Life Insurance

Bajaj Life Insurance policies offer tax benefits under Indian tax laws:

• Section 80C: Premiums paid for eligible policies can be claimed as deductions (up to ₹1.5 lakh per year).
• Section 10(10D): Death and maturity benefits are generally exempt from tax, subject to Income Tax Act conditions

How to File a Claim - Detailed Step-by-Step Guide

Filing a claim with Bajaj Life Insurance is a structured process designed to be simple and transparent. Whether it’s a death claim, maturity claim, or survival benefit, following the correct steps and submitting proper documents ensures quicker settlement.

Step 1: Identify the Type of Claim

Before you begin, determine which claim you are filing:

• Death Claim: When the policyholder has passed away
• Maturity Claim: On policy term completion
• Survival/Money-Back Claim: Periodic benefits under certain plans
• Rider Claim: Extra benefits (like accidental/disease rider)

Each claim type has slightly different documentation.

Step 2: Intimate Bajaj Life Insurance

Inform Bajaj Life as early as possible after the event:

• You can intimate via:
• Official Bajaj Life branch
• Agent or advisor who sold the policy
• Online claim intimation form on their website
• Customer care number

Early intimation helps start claim processing faster, especially for death claims.

Step 3: Collect Required Documents

Prepare and organise the documents carefully. Incomplete paperwork is the most common reason for delays.

For Death Claims

• Original Policy Document
• Claim Form (duly filled and signed)
• Death Certificate
• Nominee’s ID & Address Proof
• Bank Account Details (cancelled cheque or passbook copy)
• Medical Records (if applicable)
• FIR/Police Report & Post-mortem Report (for accidental death)
• Rider Claim Documents (if claiming under a rider)

For Maturity / Survival Claims

• Original Policy Document
• Discharge Form (provided by Bajaj Life before maturity)
• Photo ID & Address Proof
• Bank Account Details

Step 4: Submit the Claim

Submit all documents to the nearest Bajaj Life Insurance branch or through your insurance agent.

Request a receipt/acknowledgement for the documents submitted. This helps track your claim later.

Step 5: Verification by Bajaj Life

After submission, Bajaj Life Insurance will:

• Verify the policy details
• Check nominee information
• Validate supporting documents
• Review medical & incident details (if applicable)

This is a routine validation step required by insurance regulations.

Step 6: Provide Additional Information (If Asked)

Sometimes the insurer may require extra documents or clarification:

• Medical reports
• Police reports
• Affidavit
• Legal heir certificate (if no nominee)

Reply quickly to avoid delays.

Step 7: Claim Settlement

Once the verification is complete and all documents are found in order:

• The claim amount is credited directly to the nominee’s bank account
• Bajaj Life generally processes settled claims within 30 days from the date of receiving all documents

Helpful Tips to Avoid Delays

• Keep policy documents safe and updated
• Update nominee details regularly
• Ensure bank account details are accurate
• Respond promptly to insurer queries
• Submit complete and clear documents

How to Intimate Online?

Many insurers, including Bajaj Life, allow online claim intimation via their official customer portal.

• Visit the official Bajaj Life website
• Go to the Claims or Customer Service section
• Choose the correct claim type
• Fill in policy and nominee details
• Upload required documents

You’ll receive a reference number to track the claim.

Common Claim Processing Challenges

• Missing documents
• Incorrect nominee details
• Unclear medical history
• Policy lapsed due to non-payment of premium

Always check policy status before filing a claim.

Important Tips to Avoid Claim Rejection

• Ensure nominee details are updated
• Keep policy documents safe
• Disclose the correct medical history while buying the policy
• Ensure bank details are accurate

Eligibility Criteria

To buy an Bajaj Life Insurance policy, you must generally meet the following:

• Minimum age for most plans: 18 years
• Maximum age: Varies by product
• Health and underwriting requirements: Depending on sum assured and plan
• Valid KYC documents: Required for policy purchase

Documents Required

To apply for Bajaj Life Insurance:

• Proof of Identity: Aadhaar, PAN, Passport, Voter ID, etc.
• Address Proof: Aadhaar, Driving License, Utility bill, etc.
• Age Proof: Birth certificate, school leaving certificate, passport.
• Income/Bank Proof: Salary slips, bank statements (if applicable).
• Medical Reports: If required based on age/cover amount.

Document requirements differ by plan and sum assured.

Awards and Achievements Bajaj Life Insurance

Bajaj Life Insurance has been recognised for its strong customer service, award-winning insurance solutions, and consistently high performance in policy servicing and claim settlements. Some external reviews highlight its high claim settlement ratio and positive customer experiences.

More Details About Bajaj Life Insurance

If you are interested in learning more about Bajaj Life Insurance, then the following are the details about Bajaj Life Insurance: