Life insurance company Bajaj Allianz Life has announced a total bonus of Rs 1,201 crore to policyholders for the financial year 2022-23. This is the 22nd consecutive year that the company will pay bonuses to all eligible participating policyholders.
Bajaj Allianz Life said the bonus includes a regular bonus of Rs 872 crore and terminal and cash bonuses of Rs 329 crore.
What is Bajaj Allianz Term Insurance and how does it work?
Bajaj Allianz Term Insurance is a life protection plan meant specifically for individuals who want to provide security for their family’s well-being. This term insurance plan is very important for those people, especially if you are the main income producer of your family. If you die during the tenure of the term policy, the nominee in your policy gets financial protection.
Features of Bajaj Allianz Term Insurance Plan:
- Complete protection: This plan ensures that your loved ones get financial support in case of your death.
- Different time periods: You get the flexibility to choose plans for different time periods as per your needs.
- Frequent charges: You are likely to pay lower premiums if you buy the plan early.
Bajaj Allianz Insurance Claim Settlement Ratio:
Bajaj Allianz has a claim settlement ratio of 99.04%, which shows that the company settles its customers’ claims quite well.
SUM Assured:
This is the amount that the nominee of the policy holder receives on his/her death. The amount starts from Rs.50 lakhs and can be increased as per the nominee’s wishes.
Bajaj Allianz Insurance Documents Required:
The following documents are required to avail term insurance:
- Age Proof: Driving License, Passport, School/College Certificate
- Address Proof: Electricity Bill, Aadhaar Card
- Identity Proof: PAN Card, Aadhaar Card
- Photo: Passport size photo
- Income Proof: Income Tax Return, Form 16
Bajaj Allianz Insurance Methods of Premium Payment:
- Online Payment: By visiting the company’s website.
- Offline Payment: By visiting the nearest branch.
- Auto Debit: By enrolling for this facility from the bank.
Bajaj Allianz Insurance To check policy status:
- Visit the company’s official website.
- Click on the ‘Customer Login’ tab