Bajaj Life Insurance Company (Formerly known as Bajaj Allianz Life Insurance Company) – History, Quotes, Claim Process, Buy and Renew Policy, Claim Process, Plans, Term Insurance Plans, Pension Plans, Whole Life Plans, Money Back Plans, ULIPs, Quotes

About Bajaj Life Insurance Company (Formerly known as Bajaj Allianz Life Insurance Company)

Bajaj Life Insurance Company (formerly known as Bajaj Allianz Life Insurance Company) is one of India’s largest Life Insurance Company. The Company was established in August 2001 as a joint venture between the Global Insurer and Asset Manager, Allianz SE and Bajaj Finserv Limited, a diversified NBFC based in India. The Company is headquarters in, Pune, Maharashtra (India) and offers a range of Life Insurance products including Term Insurance , Pension Plans, Unit-Linked Insurance Plans (ULIPs), Endowment Plans etc. The Company reported a Premium Income of Rs26,690 Crores in FY25 vs Rs22663 Crores in FY24, a growth of 17.78% on a Y-o-Y basis and a Profit After Tax of Rs508 Crores in FY25 as compared to a PAT of Rs563 Crores in FY24. Bajaj Life Company’s Retail Claim Settlement Ratio stood at 99.29% for FY25. The Company has a strong tie up with Insurance Agents, Insurance Brokers and Banks to distribute its product. The Company has a wide distribution network with a total of 596 branches across India, 34 Bank Partners and a total agent strength of 1.61 Lakh agents as of FY25.

History of Bajaj Life Insurance Company Ltd.

Bajaj Life Insurance Company was established in August 2001 as a joint venture between Allianz SE and Bajaj Finserv Limited. The Company is headquarters in, Pune, Maharashtra (India) and offers a range of Life Insurance products including Term Insurance, Pension Plans, Unit-Linked Insurance Plans (ULIPs), Endowment Plans etc.

What is the Claim Settlement Ratio of Bajaj Life Insurance Company?

Bajaj Life Insurance Company reported a Claim Settlement Ratio for Individual Death Claims, as of March 2025, is at 99.29% as per the Company Annual Report of FY25. How to Purchase a Bajaj Life Insurance Policy? There are two main ways policyholders can purchase a Bajaj Life Insurance policy - the online process and the offline process.

From Bajaj Life Insurance Website

1. Go to Bajaj Life Insurance website https://www.bajajlifeinsurance.com/
2. Choose the type of policy you want to purchase – Term Plans, Endowment Plans, Retirement and Pension Plans, Child Plans etc. Select the appropriate Plans and Click on the ‘Know More’ button.
3. Keep the requisite Documents Ready such as Income/Investment Proof, Cancelled Cheque, Address Proof, Photographs and Click on ‘Proceed’
4. Provide the requisite details in the online proposal form, such as Name, Date of Birth, Gender City of Residence, Mobile Number, Email ID, Annual Income and Click on ‘Proceed’
5. Choose Appropriate Sum Assured, Premium Type, Policy Term, Premium Paying Term, Premium Payment Mode, Smoker Status and Date of Policy Commencement and Click on ‘Proceed’. For plans with high Sum Assured, Bajaj may require a medical test.
6. The Premium will be displayed and you can proceed by uploading necessary documents such as ID proof, Address Proof etc.
7. Pay the premium using net banking, UPI, credit/debit card or wallet. The policy will be emailed to your registered email ID.

Purchase Bajaj Life Insurance Policy with Qian Insurance Broking

1. Consult an Insurance Broker: You can contact Qian Insurance Broking to purchase a Bajaj Life Insurance Policy. Qian will provide you with various plan options and the Premium Amount.
2. Fill the Proposal Form: Fill out the physical proposal form provided by the Broker. Provide necessary details such as Personal Information, Sum Assured, Premium Type, Policy Term, Premium Paying Term, Premium Payment Mode, Smoker Status and Date of Policy Commencement and nominee details. Provide requisite Documents such as Income/Investment Proof, Cancelled Cheque, Address Proof and Photograph. Pay the premium via cash, cheque, or demand draft (DD) at the branch office.
3. Receive Insurance Policy: Pay the premium via cash, cheque or demand draft and the Policy will be mailed to your address within 2 days.

⁠ Purchase Bajaj Life Insurance Policy

What are the documents required to purchase a Bajaj Life Insurance Policy?

Following documents are required to purchase a Bajaj Life Insurance Policy:

1. Income/Investment Proof like Salary Slips, ITRs, Bank Statements, Form 16s etc.
2. Cancelled Cheque
3. Address Proof like Aadhaar Card, Passport Copy, Driving License Utility Bills etc.
4. Photograph
5. Birth Certificate (for Minors)

How to Renew Bajaj Life Insurance Policy?

Bajaj Life Insurance Policies can be renewed both online and offline.

Online Process to Renew Bajaj Life Insurance Policy

1. Go to Bajaj Life Insurance website, and Click on the ‘Renew Policy’ button
2. Pay the premium using Net Banking, UPI, Credit/Debit Card or Wallet.
3. Enter Policy Number, Date of Birth, Mobile Number and Email ID. The Website will display the Renewal Premium
4. The renewed Insurance Policy will be emailed to your registered email ID.

Offline Process to Renew Bajaj Life Insurance Policy

1. Contact Qian Insurance Broking to renew your Bajaj Life Insurance Policy.
2. Provide Policy Number and other relevant details
3. The Qian Insurance Team will assist you with renewal quotes and to submit relevant documents.
4. Pay the premium via NEFT/RTGS, Cheque or UPI.
5. The Policy will be mailed to your address within 2 days.

What is the Claim settlement process of Bajaj Life Insurance Company?

The Claim Settlement process of Bajaj Life Insurance Policy is listed below:

Maturity Claims Settlement Process Maturity claims are processed when the policy term ends, and the insured person is alive. The Bajaj Life Insurance Policy pays out a maturity value to the Policyholder. The Claim Settlement process for Maturity is as follows:

Bajaj Life Insurance will send an intimation letter with discharge form before the policy matures. The Intimation Letter will mention the Maturity Date of the Policy on which the Maturity Value will be payable to the Policyholder. The policyholder must submit the following documents to Bajaj Life Insurance to receive the Policy Maturity Value:

1. Discharge form
2. Original policy bond
3. Identity proof
4. Bank details (cancelled cheque/passbook copy)
5. PAN card On receipt of the above documents, Bajaj Life Insurance processes and directly credits the maturity amount to the bank account.

Death Claims Settlement Process Death claims are made when the Policyholder passes away during the Policy Term. The nominee must inform Bajaj Life Insurance Company about the policyholder’s death. The Policyholder must submit the following documents to Bajaj Life Insurance to receive the Death Benefit

1. Claim form
2. Original policy Copy
3. Death certificate (issued by local authority)
4. Medical reports, if applicable
5. Identity & address proof of the nominee
6. Bank details of nominee
7. Copy of FIR and Post Mortem Report in case of an Accidental Death Bajaj Life Insurance may conduct an investigation if the claim arises within 3 years of policy issuance (early claim). Upon verification, the death benefit is transferred to the nominee’s bank account. Bajaj Life Insurance typically settles most claims within 30 days, provided all documents are in order. For early claims or suspicious cases, time may vary based on investigation.

How to Change Nominee in a Bajaj Life Insurance Policy?

You can change the nominee in a Bajaj Life Insurance Policy with the following steps:

1. Submit a Change of Nomination Form with the information of the new Nominee to Bajaj Life Insurance Company. The Nominee Form can be submitted Online or Offline
2. Submit necessary documents to change nominee such as Policy Copy and Relationship Proof of the Policy with the Nominee.
3. The Nominee change will reflect in 7 days

What are the Types of Life Insurance Plans offered by Bajaj Life Insurance Company?*

The Types of Life Insurance Plans Offered by Bajaj Life Insurance Company are as follows:

Bajaj Life Term Life Insurance Plans

Bajaj Life Term Insurance Plans are pure protection plans that offering high Life Insurance Coverage at affordable premiums. Bajaj Term Life Insurance Plans offer coverage upto 99 years of age and are eligible for tax deduction under Section 80D of Income Tax Act, 1961. Bajaj Life Insurance Company offers the following Term Insurance Plans to cater to different protection needs:

1. Bajaj Life eTouch II (UIN: 116N198V05)
2. Bajaj Life iSecure II Term Insurance Plan (UIN: 116N208V03)
3. Bajaj Life Saral Jeevan Bima (UIN: 116N165V01)
4. Bajaj Life Diabetic Term Plan II Sub 8 HbA1c (UIN: 116N183V01)
5. Bajaj Life Smart Protection Goal (UIN: 116N174V05)

The features of Bajaj Life Term Insurance Plans are as follows:

Bajaj Life eTouch II Term Insurance Plan*

1. Bajaj Life eTouch II (UIN: 116N198V05) Term Insurance Plan provides financial protection to the Insured’s family in case of his death during the Policy Term as reasonable premiums. Bajaj Life eTouch II Term Plan is offered in 3 Variants:

• Life Shield: The Life Shield Variant provides a Death Benefit on Death of the Life Assured along with a Terminal Illness Benefit and Waiver of Premiums on Accidental Total Permanent Disability or Terminal Illness.
• Life Shield Plus: The Life Shield Plus Variant provides all the Benefits of the Life Shield Variant plus an Accidental Death Benefit as well.
• Life Shield Return of Premium: The Life Shield Return of Premium Variant provides all the the benefits of the Life Shield Plus Variant plus Return of Premium at the end of the Policy Period as well. The Plan offers coverage upto 85/99 years with no limit on maximum Sum Assured

Bajaj Life iSecure II Term Insurance Plan

Bajaj Life iSecure II Term Insurance Plan (UIN: 116N208V03) is a Non-Linked, Non-Participating, Individual, Regular/Limited Premium Payment Term Plan which provides financial protection to the Insured’s family in case of his death during the Policy Term as reasonable premiums.
Bajaj Life iSecure II Term Plan is offered in 3 Variants

• Life: The Life Variant provides a Death Benefit on Death of the Life Assured.
• Return of Premium: The Return of Premium Variant provides a Death Benefit on the Death of the Life Assured during the Policy Term and if the Life Assured survives till the date of Policy Maturity, the Plan also returns all the Premiums paid till date.
• Easy: The Easy Variant provides a Death Benefit on Death of the Life Assured. The Minimum Sum Assured for Easy Variant is lower at Rs 10 lakhs and the Policy offers a Maximum Policy Term of 30 Years under the Limited Premium Payment Term Option.

Bajaj Life Saral Jeevan Bima

Bajaj Life Saral Jeevan Bima (UIN: 116N165V01) is a Non-Participating, Non-Linked, Pure Term Insurance Plan which provides a Death Benefit to the Insured’s family in case of his death during the Policy Term. Anyone between the age of 18 years and 65 years can purchase the Plan. The Minimum Sum Assured under the Bajaj Life Saral Jeevan Plan is Rs5 lakhs while the maximum Sum Assured is Rs25 Lakhs. The Plan offers Single Premium Payment, Limited Premium Payment and Regular Premium Payment options.

Bajaj Life Diabetic Term Plan II Sub 8 HbA1c

Bajaj Life Diabetic Term Plan II Sub 8 HbA1c (UIN: 116N183V01) is a unique Term Insurance Plan which provides term Insurance Cover to person diagnosed with Type II Diabetes and Pre-Diabetics. The Policy provides a Death Benefit to the Insured’s family in case of his death during the Policy Term. The Plan enables the diabetics and their family members to receive financial protection and secure their future.

Bajaj Life Smart Protection Goal

Bajaj Life Smart Protection Goal (UIN: 116N174V05) is an individual, life, non-linked, non-participating, limited/regular premium payment, savings (ROP) and pure risk term insurance plan, which provides a Death Benefit in case of the death of the Life Assured during the Policy Term. The Smart Protection Goal Plan offers unique benefits such as an option to choose Return of Premium as a Maturity Benefit, option to choose Whole Life Cover up to age of 99 Years and an option to choose a Critical Illness Cover.

Bajaj Life Retirement Pension Plans

Bajaj Life Pension Plans provide regular income to Policyholders during their retirement years. These Plans are particularly suitable for senior citizens and individuals planning for a secure future, ensuring they can maintain their lifestyle without compromising on life’s essentials.

Bajaj Life currently offers 4 distinct pension plans:

1. Bajaj Life Guaranteed Goal II: Bajaj Life Guaranteed Pension Goal II (UIN: 116N187V07) is a Non-Participating, Non-Linked, Immediate and Deferred Annuity Plan which provides a guaranteed income throughout the life of the Assured
2. Bajaj Life LongLife Goal III: Bajaj Life LongLife Goal III (UIN: 116L203V01) is a Non-Participating, Whole Life, Individual, Unit-Linked, Limited Premium Payment Savings Plan which provides a guaranteed income during the Retirement Years of the Policyholder.
3. Bajaj Life Saral Pension Plan: Bajaj Life Saral Pension Plan (UIN: 116N169V14) is a Non-Participating, Non-Linked, Single Premium, Individual, Immediate Annuity Plan which provides regular income
4. *Bajaj Life Smart Pension Plan: Bajaj Life Smart Pension Plan (UIN: 116L209V03) is a Non-Participating, Unit-Linked, Individual Pension Plan designed to help Policyholders to build their retirement corpus through market linked returns

Bajaj Life Guaranteed Pension Goal II

Bajaj Life Guaranteed Pension Goal II (UIN: 116N187V07) is a Non-Participating, Non-Linked, Immediate and Deferred Annuity Plan which provides a guaranteed income throughout the life of the Assured. The Policyholder has to choose the amount of Premium Payable, Policy Term subject to minimum and maximum limits of Premium, Policy Term and Vesting Age.

Bajaj Life LongLife Goal III

Bajaj Life LongLife Goal III (UIN: 116L203V01) is a Non-Participating, Whole Life, Individual, Unit-Linked, Limited Premium Payment Savings Plan which provides a guaranteed income during the Retirement Years of the Policyholder. The Plan is offered in 2 Variants: With Waiver of Premium and Without Waiver of Premium. The Waiver of Premium Benefit waives off all Policy Premiums in case of the Death of the Policyholder during the Premium Payment Term while continuing all benefits.

Bajaj Life Saral Pension Plan

Bajaj Life Saral Pension Plan (UIN: 116N169V14) is a Non-Participating, Non-Linked, Single Premium, Individual, Immediate Annuity Plan which provides regular income and also returns the Purchase Price upon death. Bajaj Life Saral Pension Plan is offered in 2 Variants as follows:

• Option I: Life Annuity with Return of 100% of Purchase Price. The Annuitant receives pension for life. Upon death, 100% of the purchase price is returned to the nominee.
• Option II: Joint Life Last Survivor Annuity with Return of 100% of Purchase Price on death of the last survivor: Pension is paid throughout the life of the primary annuitant. After their death, the spouse continues to receive the same pension for life. Once both pass away, 100% of the purchase price is returned to the nominee. Annuity option once chosen cannot be altered.

Bajaj Life Smart Pension Plan

Bajaj Life Smart Pension Plan (UIN: 116L209V03) is a Non-Participating, Unit-Linked, Individual Pension Plan designed to help Policyholders to build their retirement corpus through market linked returns while also returning the Fund Value in case of the death of the Life Assured during the Policy Term. The Plan is offered in 2 Variants:

1. Classic Variant: The Classic Variant offers market linked returns while returning the fund value in case of the death of the Life Assured during the Policy term.
2. Assure Variant: The Assure Variant provides all the benefits of Classic Variant plus offers a Waiver of Premium Benefit which waives of all the Policy Premiums in case of the death of the Life Assured during the Premium Payment Term. The minimum entry age for the Bajaj Life Smart Pension Plan is 18 years for both variants while the maximum entry age is 55 years and 65 Years for the Classic and Assure Variant respectively.

Bajaj Life Savings Plans

Bajaj Life Savings Plans allow you to systematically save money and build a corpus to help you achieve your financial goals. The different Savings Plans offered by Bajaj Life Insurance Company (BALIC) are listed below:

1. Bajaj Life Guaranteed Wealth Goal Plan (UIN: 116N200V06)
2. Bajaj Life Ace Plan (UIN: 116N186V03)
3. Bajaj Assured Wealth Goal Platinum Plan (UIN: 116N188V06)
4. Bajaj Life Ace Advantage Plan (UIN: 116N189V02)
5. Bajaj Life Goal Suraksha Plan (UIN: 116N155V16)
6. Bajaj Life Assured Wealth Goal Plan (UIN: 116N170V14) All these plans provide financial security to the policyholder’s family in case of the Policyholder’s Death. The Plans also provide a Lumpsum Payment on if the Policyholder survives till the end of the Policy Term (Maturity Benefit).

Bajaj Life Guaranteed Wealth Goal Plan

Bajaj Life Guaranteed Wealth Goal Plan (UIN: 116N200V06) is a Non-Linked, Non-Participating, Individual Life Insurance Savings Plan that provides guaranteed benefits whilst safeguarding the Policyholder’s family against unforeseen events. The Plan combines the benefit of Protection and Savings and ensures financial security for the Policyholder’s family while building a corpus for future needs.

The Plan is offered in 3 variants:

1. Wealth Creation: The Wealth Creation Variant helps you to create a corpus to fund child’s education, fund retirement expenses.
2. Assured Income: The Assured Income Variant offers a guaranteed income stream, a lumpsum benefit equal to total premiums payable irrespective of actual premium collected and a Death benefit in case of the demise of the Life Assured during the Policy Term.
3. Second Income: The Second Income Variant helps the Policyholder generate a second source of income by offering a guaranteed income along with a lumpsum benefit equal to total premiums paid to help meet financial goals like Children’s Education needs, marriage or retirement expenses. The Policy also offers a Death benefit in case of the demise of the Life Assured during the Policy Term.

Key Features of Bajaj Life Guaranteed Wealth Goal Plan

1. Entry Age: The Minimum Entry Age for the Plan is 0/1 year and Maximum Entry Age is 50/55/60 years depending on the Variant and Premium Payment Term chosen.
2. Maturity Age: The minimum age of the Policyholder on maturity should be 18/20 years and maximum age of the Policyholder on maturity should be 75/77/99 years depending on the Variant and Premium Payment Term chosen.
3. Premium: The Policy has a minimum Premium Amount of Rs12000 per annum for the Wealth Creation Variant and Rs18000 per annum for the Assured Income and Second Income Variant. There is no Maximum Limit on Premium Amount.
4. Premium Payment Term: The Premium Payment Term for all variants ranges from 5 to 12 years.
5. Policy Term: The Wealth Creation Variant has a Policy Term ranging from 10 to 20 years while the Assured Income Policy Term of Premium Payment Term Plus Deferment Period and the Second Income Variant has a Policy Term of Premium Payment Term Plus Deferment Period Plus Income Period.
6. Maturity Benefit: The Policy provides a Guaranteed Maturity Benefit. The Wealth Creation Variant offers a Lumpsum Payout if the Policyholder survives till the end of the Policy Term while the Assured Income and Second Income Variants provide Income Installments during the Income Period along with a Lumpsum Benefit equal to the Total Premiums Payable at the Maturity of the Policy.
7. Death Benefit: If the Policyholder dies during the policy term, the nominee receives the Sum Assured on Death as a lumpsum benefit under the Wealth Creation Variant and Second Income Variant. Under the Assured Income Variant, the nominee receives Death Benefit in Annual Installments (calculated as a % of Annualised Premium). Additionally, the total Premiums Payable will also be paid as a lumpsum benefit alongwith the last Death Benefit Instalment under the Assured Income Variant.
8. Surrender Benefit: The Policyholder can surrender the policy at any time during the Policy Term after completion of 1st Policy Year provided one full years’ premium has been paid. The Policyholder receives the Surrender Value after surrendering the Policy. The Policy acquires a Special Surrender Value (SSV) after completion of 1st policy year provided one full’ year premium has been paid and a Guaranteed Surrender Value (GSV) provided 2 full years’ premiums have been paid. The Surrender Value is the higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).
9. Loan Facility: The Policyholder can avail a Loan against the Policy if the Policy has acquired a Surrender Value subject to a maximum limit of 80% of the Surrender Value.

Bajaj Life Ace Plan

Bajaj Life Ace Plan (UIN: 116N186V03) is a Non-Linked, Participating, Individual Life Insurance Savings Plan that provides a Life Insurance Coverage to ensure financial security for family members in case of an untimely demise of the Policyholder as well as choice of Income to help meet life goals.

The Plan is offered in 4 Product Options:

1. Deferred Income: The Deferred Income Option provides income after the Premium Payment Term and Deferment period. The income is a mix of guaranteed income and cash bonus.
2. Early Income: The Early Income Variant provides income from the 1st Policy Month/ year after deferment period by way of Cash Bonuses (if declared) and Guaranteed Income (GI)
3. Increasing Income: The Increasing Income Variant provides an increasing income starting after the Premium Payment Term and Deferment period. The income is a mix of guaranteed and cash bonus, (if declared).
4. Wealth Option: The Wealth Variant offers a lumpsum benefit at end of Policy Term. Bajaj Life Ace Plan offers a Goal Protection benefit which ensures that the savings goal remains intact even if the Policyholder has died. The Plan, thus, provides a financial safety net to the family by continuing the benefit payouts as planned

Key Features of Bajaj Life Ace Plan

1. Entry Age: The Minimum and Maximum Entry Age for the Plan with Goal Protection Benefit is 18 years and 55 years while for the Plan without Goal Protection Benefit is 0 years and 60 years.
2. Maturity Age: The Maximum Maturity Age for the Plan with Goal Protection Benefit is 85 years while for the Plan without Goal Protection Benefit is 100 years
3. Income Period: The Early Income option offers an Income Period of Policy Term Minus Deferment Period while the Deferred Income and Increasing Income Variants offer an Income Period of 10, 15, 20, 25, 30 years under the Limited Term Option and upto the age of 85/100 years under the Whole Life Option.
4. Deferment Period: The Early Income, Deferred Income and Increasing Income option for the Plan have a Deferment Period of 0 to 5 years while the Wealth Variant does not have offer any Deferment Period.
5. Premium Payment Term: The Premium Payment Term for all variants ranges from 5 to 12 years.
6. Policy Term: The Early Income and the Wealth Variants have a Limited Policy Term of 10 to 45 Years while the Whole Life Version offers coverage upto age of 85/100 Years. The Deferred Income and Increasing Income Variant have a Limited Policy Term of 15 to 45 Years while the Whole Life Version offers coverage upto age of 85/100 Years.
7. Maturity Benefit: The Policy provides a Maturity Benefit which is equal to Sum Assured on Maturity plus Accumulated Income Benefits plus Terminal Bonus. The Policyholder has an option to take Maturity Benefit in monthly or yearly instalments over a period of 5, 10, 15 or 20 years. This option can be chosen at any time before maturity.
8. Death Benefit: If the Policyholder dies during the policy term, the nominee receives the Sum Assured on Death plus 105% of Accumulated Income Benefits plus Terminal Bonus. The Sum Assured on Death will be 11 times of Annualised premium. At the time of intimation of death of life assured, the policyholder or nominee has an option to take the Death Benefit in equal monthly instalments over a period of 5 or 10 years from the date of death intimation. The amount of monthly instalments once started cannot be changed
9. Surrender Benefit: The Policyholder can surrender the policy at any time during the Policy Term after completion of 1st Policy Year provided one full years’ premium has been paid. The Policyholder receives the Surrender Value after surrendering the Policy. The Policy acquires a Special Surrender Value (SSV) after completion of 1st policy year provided one full’ year premium has been paid and a Guaranteed Surrender Value (GSV) provided 2 full years’ premiums have been paid. The Surrender Value is the higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).
10. Loan Facility: The Policyholder can avail a Loan against the Policy if the Policy has acquired a Surrender Value subject to a maximum limit of 80% of the Surrender Value.

Bajaj Life Assured Wealth Goal Platinum Plan

Bajaj Life Assured Wealth Goal Platinum Plan (UIN: 116N188V06) is a Non-Linked, Non-Participating, Individual Life Insurance Savings Plan that provides a Life Insurance Coverage as well as offers an Assured Income to meet immediate as well as future needs.

The Plan is offered in 2 Product Options:

1. Smart Income: The Smart Income Option allows the Policyholder to receive Early Guaranteed Payouts (as a Percentage of Annualised Premium) starting as early as the beginning of the 1st policy year till the end of Policy Term. On Maturity, Regular Guaranteed Payouts (as a Percentage of Annualised Premium) are paid over the chosen Income Period. Additionally, the Policyholder also received Enhanced Return of Premium equal to 110% of Total Premiums Paid at the end of the Income Period.
2. Regular Income: The Regular Income Option allows the Policyholder to receive Regular Guaranteed Payouts (as a Percentage of Annualised Premium) over the chosen Income Period. The Policyholder has an option to choose his Income Start Year by opting for a Deferment Period. Additionally, the Policyholder also receives an Enhanced Return of Premium equal to 110% of Total Premiums Paid at the end of the Income Period.

Key Features of Bajaj Life Assured Wealth Goal Platinum Plan

1. Entry Age: The Minimum Entry Age for the Plan is 6 years for the Smart Income Variant and 1 Year for the Regular Income Variant. The Maximum Entry Age for the Smart Income Variant is 55/60 years with Limited/Regular Pay and 60 Years for the Regular Income Variant.
2. Maturity Age: The Minimum Maturity Age for the Plan is 18 years while the Maximum Entry Age is 72 years for the Smart Income Variant and 77 years for the Regular Income Variant.
3. Income Period: The Smart Income option offers an Income Period of 15, 20, 25, 30 years while the Regular Income Option offers an Income Period of 5, 7, 10, 12, 15, 20, 25, 30 years.
4. Deferment Period: The Smart Income Option does not have a Deferment Period of while the Regular Income Variant has a Deferment Period of Policy Term Minus Premium Payment Term.
5. Premium Payment Term: The Premium Payment Term for all variants ranges from 5 to 12 years.
6. Policy Term: The Smart Income Variants have a Limited Policy Term of 10 to 15 Years while the Regular Income Variant offers a Limited Policy Term of 5 to 17 Years.
7. Maturity Benefit: The Policy provides Regular Guaranteed Payouts (as a Percentage of Annualised Premium) over the chosen Income Period on Policy Maturity. The Policyholder also receives Enhanced Return of Premium equal to 110% of Total Premiums Paid at the end of the Income Period on Maturity of Policy. The
8. Death Benefit: If the Policyholder dies during the policy term, the nominee receives the Sum Assured on Death. The Sum Assured on Death is higher of 105% of Total Premiums paid as on date of death, or the prevailing surrender value. If the Death happens after the Policy Term and during the Income Period, the Maturity Benefits will continue to be paid
9. Surrender Benefit: The Policyholder can surrender the policy at any time during the Policy Term after completion of 1st Policy Year provided one full years’ premium has been paid. The Policyholder receives the Surrender Value after surrendering the Policy. The Policy acquires a Special Surrender Value (SSV) after completion of 1st policy year provided one full’ year premium has been paid and a Guaranteed Surrender Value (GSV) provided 2 full years’ premiums have been paid. The Surrender Value is the higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).
10. Loan Facility: The Policyholder can avail a Loan against the Policy if the Policy has acquired a Surrender Value subject to a maximum limit of 80% of the Surrender Value.

Bajaj Life Ace Advantage Plan

Bajaj Life Ace Advantage Plan (UIN: 116N189V02) is a Non-Linked, Participating, Individual Life Insurance Savings Plan that provides a Life Insurance Coverage as well as creates a future corpus while providing upside through participation in bonuses. The Financial Corpus can be utilised to fulfill financial needs at various life stages. A unique benefit of the Plan is that the Policyholder receives guaranteed payouts during the last ‘n’ years of the Policy Term.

Key Features of Bajaj Life Ace Advantage Plan

1. Entry Age: The Minimum Entry Age for the Plan is 0 years and the Maximum Entry Age is 54 years with for PPT of 5 and 6 years and 60 Years for PPT of 8 years and above.
2. Maturity Age: The Minimum Maturity Age for the Plan is 18 years while the Maximum Entry Age is 85 years.
3. Premium: The minimum Premium under the Plan is Rs12,000 per annum and there is no limit on maximum premium.
4. Maturity Benefit: If the Policyholder survives till the end of the policy term, he receives a Lumpsum Amount on Maturity equal to Guaranteed Maturity benefit Plus Accrued Simple Reversionary Bonus plus Terminal Bonus if any.
5. Death Benefit: If the Policyholder dies during the policy term, the nominee receives a Death Benefit equal to Sum Assured on Death Plus Accrued Simple Reversionary Bonus plus Terminal Bonus if any.
6. Guaranteed Maturity Benefit: The Policy offers a Minimum Guaranteed Maturity Benefit of Rs1 lakh. The Maximum Guaranteed Maturity Benefit will depend on the Maximum Premium.
7. Sum Assured: The minimum Sum Assured under the Policy is 7x the Annualised Premium while the maximum Sum Assured under the Policy is 10x the Annualised Premium.
8. Premium Payment Term: The Policy offers an Option of Limited Premium Payment Term of 5, 6, 8, 9, 10, 12 years and a Limited Premium Payment Term of 13 to 30 years.
9. Policy Term: The Limited Premium Payment Option has a Policy Term of Premium Payment Term (PPT) + 5 years while Regular Premium Payment Option has a Policy Term equal to Premium Payment Term.
10. Surrender Benefit: The Policyholder can surrender the policy at any time during the Policy Term after completion of 1st Policy Year provided one full years’ premium has been paid. The Policyholder receives the Surrender Value after surrendering the Policy. The Policy acquires a Special Surrender Value (SSV) after completion of 1st policy year provided one full’ year premium has been paid and a Guaranteed Surrender Value (GSV) provided 2 full years’ premiums have been paid. The Surrender Value is the higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).
11. Settlement Option: Policyholders can choose to receive Maturity or Death Benefits in installments over 5, 10, 15 or 20 years, ensuring regular income instead of a lump sum.

Bajaj Life Goal Suraksha Plan

Bajaj Life Goal Suraksha Plan (UIN: 116N155V16) is a Non-Linked, Non-Participating, Individual Life Insurance Savings Plan that provides a Life Insurance Coverage as well as a Guaranteed Sum At maturity

Key Features of Bajaj Life Goal Suraksha Plan

1. Entry Age: The Minimum Entry Age for the Plan is 0 years and the Maximum Entry Age is 55 years.
2. Maturity Age: The Minimum Maturity Age for the Plan is 18 years while the Maximum Entry Age is 65 years.
3. Premium: The minimum Premium under the Plan is Rs3,000 per annum and there is no limit on maximum premium.
4. Maturity Benefit: If the Policyholder survives till the end of the policy term, he receives Guaranteed Sum Assured on Maturity plus Guaranteed Additions.
5. Guaranteed Addition: The Plan provides Guaranteed Additions as multiple of one Annualized Premium along with the maturity benefit.
6. Death Benefit: If case of the death of the Life Assured due to accident during the waiting period or in case of death of the Life Assured after the waiting period due to any cause, the nominee receives the Death Benefit which is the higher of Sum Assured Multiple X Annualized Premium or Sum Assured. In case of death of the Life Assured during the Waiting period other than due to an accident, the nominee will receive a Death Benefit equal to 100% of Total Premiums paid till date.
7. Sum Assured: The minimum Sum Assured under the Policy is Rs21000 for age of Policyholder upto 49 years and Rs15000 for age of Policyholder from 50 to 55 years. There is no limit on Maximum Sum Assured.
8. Premium Payment Term: The Policy offers an Option of Premium Payment Term of 5, 6, 7, 8, 10 and 12 years.
9. Policy Term: The Plan offers Policy Term options 10, 12, 15 and 20 years.
10. Surrender Benefit: The Policyholder can surrender the policy at any time during the Policy Term after completion of 1st Policy Year provided one full years’ premium has been paid. The Policyholder receives the Surrender Value after surrendering the Policy. The Policy acquires a Special Surrender Value (SSV) after completion of 1st policy year provided one full’ year premium has been paid and a Guaranteed Surrender Value (GSV) provided 2 full years’ premiums have been paid. The Surrender Value is the higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).
11. Waiting Period: The Policy has a Waiting Period of 90 days. In case of death during the waiting period other than due to an accident, only 100% of premium paid will be paid back to the nominee.
12. Loan Facility: The Policyholder can avail a Loan against the Policy if the Policy has acquired a Surrender Value subject to a maximum limit of 80% of the Surrender Value.

Bajaj Life Assured Wealth Goal Plan

Bajaj Life Assured Wealth Goal Plan (UIN: 116N170V14) is a Non-Linked, Non-Participating, Individual Life Insurance Savings Plan that provides a Life Insurance Coverage as well as a Assured Income to help you achieve your life Goals. The Plan offers Single, Limited and Regular Premium Payment Options and is available on single and joint-life basis.

The Plan is offered in 6 Variants:

1. Lifelong Income: The Lifelong Income Option provides guaranteed income till the age of 99 years or till the Life Assured is alive. The Policyholder also receives the Sum of all Premiums paid at the end of the Income Period.
2. Second Income: The Second Income Variant provides guaranteed income during the Income Period and returns the Sum of all Premiums paid at the end of the Income Period.
3. Step Up Income: The Step Up Income Variant provides Regular guaranteed payouts which increase by 10% of the 1st instalment of Regular Guaranteed Payout every five years during the Income Period. The Policyholder also receives the Sum of all Premiums paid at the end of the Income Period.
4. Extra Income: The Extra Income Variant offers regular guaranteed payouts till the Life Assured is alive.
5. Wealth Creation: The Wealth Creation Variant offers a lumpsum Guaranteed Maturity Benefit at the end of the Policy Term.
6. Assured Income: The Assured Income Variant offers guaranteed payouts during the Income Period and returns the Sum of all Premiums paid at the end of the Income Period.

Key Features of Bajaj Life Assured Wealth Goal Plan

1. Entry Age: The Minimum Entry Age for the Plan is 5 years for the Second Income, Step Up Income, Extra Income Variants, the Assured Income Variant has a minimum entry age of 4 years while the Lifelong Income variant has a Minimum Entry Age of 51 years and the Wealth Creation Variant has a minimum Entry Age of 18 years for the Primary Life. The Maximum Entry Age for the Plan is 50/60 years for the Second Income, Step Up Income, Extra Income and Assured Income Variants depending on the Premium Payment Terms. The Lifelong Income and Wealth Creation (Limited Premium Payment Term) Variant has a maximum entry age of 65 years.
2. Maturity Age: The Lifelong Income Variant has a Minimum Maturity Age of 99 years while the Wealth Creation and Assured Income Variant have a Minimum Maturity Age of 18 years. The Minimum Maturity Age of Extra Income Variant is 20 years and the 30 years for the Step Up Income Variant while the Second Income Variant has a Minimum Maturity Age of 35 years. The Wealth Creation (Limited Premium Payment Term) and Assured Income Variant have a Maximum Maturity Age of 75 and 74 years respectively. The Maximum Maturity Age of Extra Income Variant is 89 years and for the Step Up Income Variant is 92 years while the Second Income Variant has a Maximum Maturity Age of 99 years.
3. Policy Term: The Lifelong Income Variant has a Minimum Policy Term of 99 - Entry Age. The Minimum/Maximum Policy Term for Second Income Variant is 30/44 Years, for Step-Up Income Variant is 25/32 years, for Extra Income Variant is 15/29 years, for Wealth Creation Variant is 5/30 years and for Assured Income Variant is 5/14 Years.
4. Premium Payment Term: The Lifelong Income Variant offers a Premium Payment Term of 7 to 12 years while the Second Income, Step-Up Income, Extra Income and Assured Income Variants offer a Premium Payment Term of 5 to 12 Years. The Wealth Creation Variant offers a Single Pay Option as well as a Limited Premium Payment Term of 5 to 12 years.
5. Income Period: The Lifelong Income Variant offers an Income Period of Policy Term minus Deferment Period while the Second Income and Assured Income Variant offer an Income Period of 25/30 Years. The Step-Up Income Variant offers an Income Period of 20 years while Extra Income Variant offers an Income Period of 10/15 years.
6. Premium: The Lifelong Income Variant has a minimum Premium of Rs50,000 per annum while the Second Income, Step Up Income, Extra Income and Assured Income Variant have a Minimum Premium of Rs30,000 per annum. The Limited Pay Version of the Wealth Creation Variant has a minimum Premium of Rs12000 per annum while the Single Pay Version has a minimum Premium of Rs5000 per annum. There is no limit on maximum premium in any of the variants.
7. Maturity Benefit: If the Policyholder survives till the end of the policy term, he receives Last Regular Guaranteed Payout plus Sum of All Premiums Paid (if opted)
8. Death Benefit: If case of the death of the Life Assured during the Policy Term, the Nominee receives a Death Benefit which is the higher of Sum Assured on Death or 105% of Total Premiums* paid as on date of death or Prevailing Surrender Value.
9. Surrender Benefit: The Policyholder can surrender the policy at any time during the Policy Term after completion of 1st Policy Year provided one full years’ premium has been paid. The Policyholder receives the Surrender Value after surrendering the Policy. The Policy acquires a Special Surrender Value (SSV) after completion of 1st policy year provided one full’ year premium has been paid and a Guaranteed Surrender Value (GSV) provided 2 full years’ premiums have been paid. The Surrender Value is the higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).
10. Deferment Period: The Lifelong Income, Second Income, Extra Income and Assured Income Variants offers a Deferment Period of 0, 1 and 2 years. The Step-Up Income and Wealth Creation Variants do not have any Deferment Periods.
11. Loan Facility: The Policyholder can avail a Loan against the Policy if the Policy has acquired a Surrender Value subject to a maximum limit of 50% of the Surrender Value.

Bajaj Life ULIP Plans

Bajaj Life Insurance Company offers 9 ULIP (Unit-Linked Insurance Plan) options, combining Life Insurance Coverage with market-linked investment growth. A part of the Policy Premium goes towards risk cover, and the remainder is invested in different funds. These plans include:

1. Bajaj Life Goal Assure IV (UIN: 116L204V01)
2. Bajaj Life Magnum Fortune Plus III Plan (UIN: 512L317V02
3. Bajaj Life Invest Protect Goal III Plan (UIN: 116L205V01)
4. Bajaj Life Future Wealth Gain IV Plan (UIN: 116L202V01)
5. Bajaj Life Smart Wealth Goal V Plan (UIN: 116L201V04)

Bajaj Life Goal Assure IV ULIP Plan

Bajaj Life Goal Assure IV (UIN: 116L204V01) is a Unit-Linked, Non-Participating, Individual Life Savings Insurance Plan that combines Life Insurance Coverage with market-linked investment growth. The Plan is a life goal based, individual ULIP that provides Loyalty Additions from the 10th Year and Fund Boosters payable at maturity as well as a life cover for the entire Policy Term. The Plan also returns the mortality charges on Policy maturity thereby maximising returns on savings.

Key Features of Bajaj Life Goal Assure IV Plan

1. Eligibility: Any policyholder between the age of 0 Days to 60 years can apply for this Policy. In case of minor life, the risk cover commences immediately on date of Policy Commencement and the policy vests on the attaining majority age of 18 years.
2. Maturity Age: The Policy has a minimum Maturity Age of 18 Years and a maximum Maturity Age of 75 Years.
3. Policy Term: The Plan offers Policy Terms of 10 years, 15 years and 20 years.
4. Premium Payment Term: The Plan offers Premium Payment Terms of 5, 7, 10, 15 or 20 years depending on the Policy Term
5. Sum Assured: The Minimum Sum Assured under the Policy is 7 times Annualized Premium for Entry Age below 50 years and 5 times Annualized Premium for Entry Age above 50 years. The Maximum Sum Assured under the Policy ranges from 10 to 20 times the Annualised Premium depending on Policy Term, Entry Age and Annualised Premiums.
6. Minimum and Maximum Premium: The Minimum Premium is Rs36,000 per annum and there is no limit on the Maximum Premium.
7. Death Benefit: If the Policyholder dies during the Policy Term but before the Maturity Date, the nominee receives a Death Benefit equal to higher of Prevailing Sum Assured or Regular Premium Fund Value as on date of Death intimation.
8. Maturity Benefit: If Life Assured survives till the date of Maturity, an amount equal to Unit Fund Value as on date of maturity is payable.
9. Loyalty Addition: The Plan provides Loyalty Additions which are added to the Regular Premium Fund Value at the end of the 10th (1%), 15th (1.5%) and 20th (2%) Policy Year. The Loyalty Addition are calculated as a Percentage of average of the daily Regular Premium Fund Values during the previous 3 year (including the current year). The amount of Loyalty Addition added into each fund is in the same proportion of the fund values as at the date of addition. Unit Price as on the date of each Loyalty Addition is used for the unitization.
10. Investment Options: Bajaj Life Goal Assure IV Option provides 4 unique Portfolio Investment Strategies as follows:
    • Investor Selectable Portfolio Strategy: Investor Selectable Portfolio Strategy allows the Policyholder to allocate premiums as per his personal choice. The Strategy provides a choice of 23 funds to which the Policyholder can allocate funds to. The Policyholder can choose one or more investment funds within the Investor Selectable Portfolio Strategy. The Policyholder has the option to switch units from one fund to another by giving written notice to the Insurance Company and can also switch out of this Portfolio Strategy altogether at any Policy Anniversary by giving a written notice to the Insurance Company 30 days in advance.
    • Wheel of Life Portfolio Strategy: The Wheel of Life Portfolio Strategy adopts a “Years to maturity” based portfolio management. If the Policyholder opts for a Wheel of Life Portfolio strategy, the Regular/limited Premium and the Top-up Premium, is allocated in the following Funds: Bluechip Equity Fund, Equity Growth Fund II, Accelerator Mid-Cap Fund II, Bond Fund and Liquid Fund in the pre-decided proportion, depending on the outstanding years to maturity. On each Policy anniversary, the Fund Value is reallocate among various funds in the proportion based on outstanding years to maturity. The Policyholder does not have the option to switch units from one fund to another or change the apportionment of Premium to various funds under the Wheel of Life Strategy. The Policyholder can also switch out of this Portfolio Strategy altogether at any Policy Anniversary by giving written notice to the Insurance Company 30 days in advance.
    • Trigger Based Portfolio Strategy: The Trigger Based Portfolio Strategy is designed to maintain Asset Allocation and to secure the gains. The Strategy can be opted at Policy Commencement only. The Premium is allocated to 2 funds – Equity Growth Fund II, an equity oriented fund and Bond Fund, a debt oriented fund – in a 75%: 25% proportion. The fund allocation can get subsequently altered due to market movements. The funds in the portfolio are rebalanced or reallocated after a 15% upward movement in Unit Price of Equity Growth Fund II, from the previous rebalancing or from the Unit Price at the inception of the Policy, whichever is later. On the occurrence of the trigger event, any value of units in Equity Growth Fund II which is in excess of three times the value of units in Bond Fund are considered as gains and switched to the Liquid Fund by redemption of appropriate units from Equity Growth Fund II. Thus, this strategy maintains the asset allocation between the Equity Growth Fund and Bond Fund at 75%:25%. The Policyholder can also switch out of this Portfolio Strategy altogether at any Policy Anniversary by giving written notice to the Insurance Company 30 days in advance.
    • Auto Transfer Portfolio Strategy: The Auto Transfer Portfolio Strategy helps to save money in a systematic way by automatically transferring money every month, from a low-risk fund to funds of your choice. In this strategy, the Premium is allocated to a Bond Fund/Liquid Fund of the Policyholder’s choice and at the start of each monthly anniversary of the Policy, a proportion of Fund Value in the Bond Fund/ Liquid Fund as on that date will be switched to the other Funds as specified by the Policyholder. The proportion to be switched depends upon the number of outstanding months till the next Premium due date. The Policyholder can also switch out of this Portfolio Strategy altogether at any Policy Anniversary by giving written notice to the Insurance Company 30 days in advance.
11. Partial Withdrawals: Bajaj Life Goal Assure IV Plan has a 5-year lock-in, after which partial withdrawals are allowed
12. Settlement Option: Policyholders can choose to receive Maturity Benefits or Death Benefit in installments over 5 years, ensuring regular income instead of a lump sum.
13. Policy Charges: The Policy incurs a number of charges including Policy Administration Charges ranging from 0% to 3% Per Annum, Fund Management Charges (ranging from 0.50% to 1.35% per annum), Mortality Charges, Discontinuance Charges, Miscellaneous Charges etc.

Bajaj Life Magnum Fortune Plus III Plan

Bajaj Life Magnum Fortune Plus III Plan (UIN: 512L317V02) is a Unit-Linked, Non-Participating, Individual Life Savings Insurance Plan that offers Life Insurance Coverage during the entire policy term and provides options to invest in wide range of funds to help meet future goals. The Plan provides unique features such as Loyalty Addition and Maturity Boosters.

Key Features of Bajaj Life Magnum Fortune Plus III Plan

1. Entry Age: The Plan has a minimum entry age of 0 Days and a maximum entry age of 65 years.
2. Maturity Age: The Policy has a minimum Maturity Age of 18 Years and a maximum Maturity Age of 75 Years.
3. Policy Term: The Plan offers Policy Terms of 10 years, 15 years, 20 years, 25 years and 30 years.
4. *Premium Payment Term: The Plan offers a Limited Premium Payment Term of 5 to 25 years depending on the Policy Term
5. Sum Assured: The Minimum Sum Assured under the Policy is 7 times Annualized Premium while the Maximum Sum Assured under the Policy ranges from 10 to 40 times the Annualised Premium depending on Premium Payment Term and Entry Age. There is no limit on Maximum Sum Assured.
6. Minimum and Maximum Premium: The Minimum Premium is Rs48,000 per annum and there is no limit on the Maximum Premium.
7. Death Benefit: If the Policyholder dies during the Policy Term, the nominee receives a Death Benefit equal to higher of Prevailing Sum Assured or Regular Premium Fund Value as on date of Death intimation.
8. Maturity Benefit: If Life Assured survives till the date of Maturity, an amount equal to Fund Value as on date of maturity is payable.
9. Loyalty Addition: The Plan provides Loyalty Additions which are added to the Regular Premium Fund Value by allocating additional units to the Policy every year from the end of the 10th Policy Year till the end of the Policy Term. The Loyalty Additions are calculated as a percentage of last 3 policy years average fund value. The Percentage of Loyalty Addition added to the Regular Fund Value is 0.5% of Regular Premium Fund Value for Premiums less than Rs1 lakh per annum and 0.7% for Premiums greater than Rs1 lakh per annum. The amount of Loyalty Addition added into each fund is in the same proportion of the fund values as at the date of addition. Unit Price as on the date of each Loyalty Addition is used for the unitization.
10. Maturity Boosters: The Policy provides Maturity Booster which is added to the Fund Value as a reward for staying invested. Maturity Booster is calculated as a percentage of the average Regular Premium Fund Value of last 3 Policy Years (including the current year). The Amount of Maturity Booster depends on the Policy Term and ranges from 0.25% to 1% of Regular Premium Fund Value.
11. Return of Mortality Charges: At the end of the Policy Term on Policy Maturity Date, the total amount of Mortality Charges deducted in respect of life cover provided throughout the Policy Term are added back as Return of Mortality Charges to the Fund Value.
12. Family Benefit: If any family member is an existing Bajaj Life Insurance Policyholder, then the Insurance Company provides a family benefit on Policy Maturity. The Family Benefit is added to the Regular Premium Fund Value and ranges from 0.5% for Policy Term lesser than 20 years and 1% for Policy Term greater than 20 years.
13. Investment Options: Bajaj Life Magnum Fortune Plus III Option provides 4 unique Portfolio Investment Strategies as follows:
    • Investor Selectable Portfolio Strategy: Investor Selectable Portfolio Strategy allows the Policyholder to manage funds in an active manner. The Strategy provides a choice of 22 funds to which the Policyholder can allocate funds to. The Policyholder can choose one or more investment funds to allocate funds. The Policyholder has the option to switch units from one fund to another by giving written notice to the Insurance Company and can also switch out of this Portfolio Strategy altogether at any Policy Anniversary by giving written notice to the Insurance Company 30 days in advance.
    • Target Asset Allocation Strategy: The Target Asset Allocation Strategy enables the Policyholder to choose a n Asset Allocation as per his risk appetite and maintain it throughout the Policy Term. The Policyholder can allocate the Premium between any two funds available with the Policy, in the proportion of his choice. The portfolio is rebalanced every quarter to ensure that the asset allocation is maintained. The Policyholder can opt for a Target Asset Allocation strategy at Policy Inception or any subsequent policy anniversary by giving a written notice to the Insurance Company 30 days in advance during the Policy Term. The Policyholder can also switch out of this Portfolio Strategy altogether at any Policy Anniversary by giving written notice to the Insurance Company 30 days in advance.
    • Auto Transfer Portfolio Strategy: The Auto Transfer Portfolio Strategy helps to save money in a systematic way by automatically transferring money from a low-risk fund to moderate/high-risk funds of your choice every month. In this strategy, the Premium is allocated to a Bond Fund/Liquid Fund of the Policyholder’s choice and at the start of each monthly anniversary of the Policy, a proportion of Fund Value in the Bond Fund/ Liquid Fund as on that date is switched to the other Funds as specified by the Policyholder. The proportion to be switched depends upon the number of outstanding months till the next Premium due date. The Policyholder can also switch out of this Portfolio Strategy altogether at any Policy Anniversary by giving written notice to the Insurance Company 30 days in advance.
14. Partial Withdrawals: Bajaj Life Magnum Fortune Plus III Plan allows partial withdrawals after completion of 5 years
15. Settlement Option: Policyholders can choose to receive Maturity Benefits or Death Benefit in installments over 5 years, ensuring regular income instead of a lump sum.
16. Policy Charges: The Policy incurs a number of charges including Premium Allocation Charges ranging from 0% to 4% Per Annum, Fund Management Charges (ranging from 0.50% to 1.35% per annum), Mortality Charges, Discontinuance Charges, Miscellaneous Charges etc.

Bajaj Life Invest Protect Goal III Plan

Bajaj Life Invest Protect Goal III Plan (UIN: 116L205V01) is a Unit-Linked, Non-Participating, Individual Life Savings Insurance Plan that offers High Life Insurance Coverage throughout the policy term alongwith market-linked returns on invested premiums to help meet future goals. The Plan provides unique features such as Return of Premium Allocation Charge, Loyalty Addition, Fund Maintenance Booster and Family Benefits.

Key Features of Bajaj Life Invest Protect Goal III Plan

1. Entry Age: The Plan has a minimum entry age of 18 Years and a maximum entry age of 60 years.
2. Maturity Age: The Policy has a minimum Maturity Age of 38 Years and a maximum Maturity Age of 100 Years.
3. Policy Term: The Plan offers a Minimum Policy Term of 20 years and a Maximum Policy Term of 40 years.
4. Premium Payment Term: The Plan offers a Limited Premium Payment Term of 5 to 12 years as well as a Regula Premium Payment Term equal to Policy Term
5. Sum Assured: The Minimum Sum Assured under the Policy is 7 times Annualized Premium while the Maximum Sum Assured depends on the maximum Sum Assured Multiple allowed.
6. Minimum and Maximum Premium: The Minimum Premium is Rs48,000 per annum for Premium Payment Term of 5 to 7 years and Rs18,000 per annum for Premium Payment Term of 8 years and above. There is no limit on the Maximum Premium.
7. Death Benefit: If the Policyholder dies during the Policy Term, the nominee receives a Death Benefit equal to higher of Prevailing Sum Assured or Regular Premium Fund Value as on date of Death intimation.
8. Maturity Benefit: If Life Assured survives till the date of Maturity, an amount equal to Fund Value as on date of maturity is payable.
9. Return of Premium Allocation Charge: The Policy has a Benefit of Return of Premium Allocation Charge as a Loyalty Benefit where all the Premium Allocation Charges levied with respect to Regular/Limited Premiums are added back at the end of the 15th Policy Year.
10. Return of Mortality Charges: The Policy provides a Benefit where the total amount of Mortality Charges deducted in respect of life cover provided throughout the Policy Term are added back to the Fund Value as Return of Mortality Charges at completion of specific Policy Years.
11. Loyalty Addition: The Plan provides Loyalty Additions which are added to the Regular Premium Fund Value by allocating additional units to the Policy at the end of the 10th (1.25%), 20th (2%), 30th (3%) and 40th (5%) Policy Year till the end of the Policy Term. The Loyalty Additions are calculated as a percentage of last 3 policy years average fund value. The amount of Loyalty Addition added into each fund is in the same proportion of the Regular Premium Fund Value as at the date of addition.
12. Fund Maintenance Boosters: The Policy provides Fund Maintenance Booster where if the Total Fund Value drops below one Annualised Premium, then the Policy adds Fund Maintenance Booster to the Regular Premium Fund Value.
13. Family Benefit: If any family member is an existing Bajaj Life Insurance Policyholder, then the Insurance Company provides a family benefit on Policy Maturity. The Family Benefit is added to the Regular Premium Fund Value is 1% of the Average of Previous 3 years’ daily Regular Premium Fund Value.
14. Investment Options: Bajaj Life Invest Protect Goal III Plan provides 2 Portfolio Investment Strategies as follows:
    • Investor Selectable Portfolio Strategy: Investor Selectable Portfolio Strategy allows the Policyholder to manage funds in an active manner. The Strategy provides a choice of 22 funds to which the Policyholder can allocate funds to. The Policyholder can choose one or more investment funds to allocate funds and can also switch units from one fund to another by giving written notice to the Insurance Company and can also switch out of this Portfolio Strategy altogether at any Policy Anniversary by giving written notice to the Insurance Company 30 days in advance.
    • Automatic Transfer Strategy: The Automatic Transfer Strategy helps to save money in a systematic way by automatically transferring money from a low-risk fund to moderate/high-risk funds of your choice every month. In this strategy, the Premium is allocated to a Bond Fund/Liquid Fund of the Policyholder’s choice and at the start of each monthly anniversary of the Policy, a proportion of Fund Value in the Bond Fund/ Liquid Fund as on that date is switched to the other Funds of the Policyholder’s choice. The proportion to be switched depends upon the number of outstanding months till the next Premium due date. The Policyholder can also switch out of this Portfolio Strategy altogether at any Policy Anniversary by giving written notice to the Insurance Company 30 days in advance.
15. Partial Withdrawals: Bajaj Life Invest Protect Goal III Plan allows partial withdrawals after completion of lock-in Period of 5 years
16. Settlement Option: Policyholders can choose to receive Maturity Benefits or Death Benefit in installments over 5 years, ensuring regular income instead of a lump sum.
17. Policy Charges: The Policy incurs a number of charges including Premium Allocation Charges ranging from 0% to 6% Per Annum, Fund Management Charges (ranging from 0.50% to 1.35% per annum), Mortality Charges, Discontinuance Charges, Miscellaneous Charges etc.

Bajaj Life Future Wealth Gain IV Plan

Bajaj Life Future Wealth Gain IV Plan (UIN: 116L202V01) is a Unit-Linked, Non-Participating, Individual Life Savings Regular/Limited Premium Payment Plan that combines the benefit of Protection and Growth to help achieve your goals. The Plan provides unique features such as Return of Mortality Charge, Loyalty Addition, and Family Benefits.

Key Features of Bajaj Life Future Wealth Gain IV Plan

1. Entry Age: The Plan has a minimum entry age of 0 Years and a maximum entry age of 54-59 years.
2. Maturity Age: The Policy has a Minimum Maturity Age of 18 Years and a maximum Maturity Age of 75 Years.
3. Policy Term: The Plan offers a Minimum Policy Term of 10 years and a Maximum Policy Term of 25 years.
4. Premium Payment Term: The Plan offers a Limited Premium Payment Term of 5, 7, 10 and 15 years as well as a Regular Premium Payment Term equal to Policy Term.
5. Sum Assured: The Minimum Sum Assured under the Policy ranges from 5 times to 7 times Annualized Premium depending on the Entry Age while the Maximum Sum Assured ranges from 5 times to 7 times Annualized Premium depending on the Entry Age.
6. Minimum and Maximum Premium: The Minimum Premium is Rs50,000 per annum while There is no limit on the Maximum Premium.
7. Death Benefit: If the Policyholder dies during the Policy Term, the nominee receives a Death Benefit equal to higher of Prevailing Sum Assured or Regular Premium Fund Value as on date of Death intimation.
8. Maturity Benefit: If Life Assured survives till the date of Maturity, an amount equal to Fund Value as on date of maturity is payable.
9. Return of Mortality Charges: The Policy provides a Benefit where the total amount of Mortality Charges deducted in respect of life cover provided throughout the Policy Term are added back to the Fund Value as Return of Mortality Charges at the end of the Policy Term or end of the 15th Policy Year, whichever is later.
10. Loyalty Addition: The Plan provides Loyalty Additions which are added to the Regular Premium Fund Value by allocating additional units to the Policy every year from the end of the 15th Policy Year till the end of the Policy Term. The Loyalty Additions are calculated as a percentage of last 3 policy years average fund value. The Percentage of Loyalty Addition added to the Regular Fund Value is 1% of Regular Premium Fund Value. The amount of Loyalty Addition added into each fund is in the same proportion of the fund values as at the date of addition. Unit Price as on the date of each Loyalty Addition is used for the unitization.
11. Family Benefit: If any family member is an existing Policyholder of Bajaj Life Insurance Company, then the Insurance Company provides a family benefit on Policy Maturity. The Family Benefit added to the Regular Premium Fund Value ranges from 0.5% to 1% of the Average of Previous 3 years’ daily Regular Premium Fund Value.
12. Investment Options: Bajaj Life Future Wealth Gain IV Plan provides 4 unique Portfolio Investment Strategies as follows:
    • Investor Selectable Portfolio Strategy: Investor Selectable Portfolio Strategy allows the Policyholder to manage funds in an active manner. The Strategy provides a choice of 22 funds to which the Policyholder can allocate funds to. The Policyholder can choose one or more investment funds to allocate funds and can also switch units from one fund to another by giving written notice to the Insurance Company and can also switch out of this Portfolio Strategy altogether at any Policy Anniversary by giving written notice to the Insurance Company 30 days in advance.
    • Wheel of Life Portfolio Strategy: The Wheel of Life Portfolio Strategy adopts a “Years to maturity” based portfolio management. If the Policyholder opts for a Wheel of Life Portfolio strategy, the Regular/Limited Premium and the Top-up Premium, is allocated in the following Funds: Bluechip Equity Fund, Equity Growth Fund II, Accelerator Mid-Cap Fund II, Bond Fund and Liquid Fund in a pre-decided proportion, depending on the outstanding years to maturity. On each Policy anniversary, the Fund Value is reallocated among various funds in the proportion based on outstanding years to maturity. The Policyholder does not have the option to switch units from one fund to another or change the apportionment of Premium to various funds under the Wheel of Life Strategy. The Policyholder can also switch out of this Portfolio Strategy altogether at any Policy Anniversary by giving written notice to the Insurance Company 30 days in advance.
13. Partial Withdrawals: Bajaj Life Future Wealth Gain Plan IV allows partial withdrawals after completion of lock-in Period of 5 years
14. Settlement Option: Policyholders can choose to receive Maturity Benefits or Death Benefit in installments over 5 years, ensuring regular income instead of a lump sum.
15. Policy Charges: The Policy incurs a number of charges including Premium Allocation Charges ranging from 0% to 6% Per Annum, Policy Administration Charges, Fund Management Charges (ranging from 0.50% to 1.35% per annum), Mortality Charges, Discontinuance Charges, Miscellaneous Charges etc.

Bajaj Life Smart Wealth Goal V Plan

Bajaj Life Smart Wealth Goal V Plan (UIN: 116L201V04) is a Unit-Linked, Non-Participating, Life Individual Life Savings Regular/Limited Premium Payment Plan that combines the benefit of Protection and Growth to help achieve your goals. The Plan provides unique features such as Fund Booster, Return of Premium Allocation Charge Return of Mortality Charge, Loyalty Addition, and Family Benefits. The Plan is offered in 3 variants

• Wealth
• Child Wealth
• Joint Life Wealth

Key Features of Bajaj Life Smart Wealth Goal V Plan

1. Entry Age: The Plan has a minimum entry age of 0 Years and a maximum entry age of 50/60 for a Sum Assured Multiple of 30/20. The Single Premium Payment Plan has a Maximum Entry age of 70 Years
2. Maturity Age: The Policy has a Minimum Maturity Age of 18 Years and a maximum Maturity Age of 65 to 99 Years depending on the Sum Assured Multiple. The Single Premium Payment Plan has a Maximum Entry age of 90 Years
3. Policy Term: The Plan offers a Minimum Policy Term of 10 years and a Maximum Policy Term of 60 years for Sum Assured Multiple of 10. The Single Premium Payment Plan has a Minimum and Maximum Policy Term of 10 and 20 Years respectively.
4. Premium Payment Term: The Plan offers a Regular/Limited Premium Payment Term of 5 years upto the Policy Term for Maturity Age less than 80 Years and 10 years upto the Policy Term for Maturity Age greater than 80 Years. The maximum Premium Payment Term Cessation Age is 80 Years.
5. Sum Assured: The Minimum Sum Assured under the Policy ranges from 5 times to 7 times Annualized Premium depending on the Entry Age while the Maximum Sum Assured is 30 times the Annualized Premium for Limited/Regular Premium Payment Plans. For Single Premium Payment Plan, the Minimum Sum Assured under the Policy ranges from 1.1 times to 1.25 times the Single Premium depending on the Entry Age while the Maximum Sum Assured ranges is 1.25 times the Single Premium.
6. Minimum and Maximum Premium: The Minimum Premium is Rs12,000 per annum for Limited/Regular Premium Policies and Rs48000 per annum for Single Premium Policy. There is no limit on the Maximum Premium.
7. Death Benefit: If the Policyholder dies during the Policy Term, the nominee receives a Death Benefit equal to higher of Prevailing Sum Assured or Regular Premium Fund Value*Single Premium Fund Value plus Higher of, Prevailing Top up Sum Assured or Top up Premium Fund value, if any as on date of Death intimation.
8. Maturity Benefit: If Life Assured survives till the date of Maturity, an amount equal to Fund Value is payable as on Maturity Date.
9. Return of Premium Allocation Charge: The Policy has a Benefit of Return of Premium Allocation Charge as a Loyalty Benefit where the sum of all Premium Allocation Charges deducted under the Policy are added back at the end of the 15th Policy Year.
10. Return of Mortality Charges: The Policy provides a Benefit where the total amount of Mortality Charges deducted in respect of life cover provided throughout the Policy Term are added back to the Fund Value as Return of Mortality Charges at the end of the Policy Term.
11. Fund Booster: The Plan provides a Fund Booster Benefit at the end of the 10th Policy Year and every 5th policy year thereafter till the end of Policy Term where a percentage of the Average of the Daily Regular/Single Premium Fund value during the previous 3 years (including the current year) is added into the Fund as Loyalty Benefit.
12. Investment Options: Bajaj Life Smart Wealth Goal V Plan provides 5 unique Portfolio Investment Strategies as follows:
    • Investor Selectable Portfolio Strategy: Investor Selectable Portfolio Strategy allows the Policyholder to manage funds in an active manner. The Strategy provides a choice of 22 funds to which the Policyholder can allocate funds to. The Policyholder can choose one or more investment funds to allocate funds and can also switch units from one fund to another by giving written notice to the Insurance Company and can also switch out of this Portfolio Strategy altogether at any Policy Anniversary by giving written notice to the Insurance Company.
    • Wheel of Life Portfolio Strategy - II: The Wheel of Life Portfolio Strategy adopts a “Years to maturity” based portfolio management. If the Policyholder opts for a Wheel of Life Portfolio Strategy - II, the Regular/Limited Premium and the Top-up Premium, is allocated in the following Funds: Equity Growth Fund II, Accelerator Mid-Cap Fund II, Bond Fund and Liquid Fund in a pre-decided proportion, depending on the outstanding years to maturity. On each Policy anniversary, the Fund Value is reallocated among various funds in the proportion based on outstanding years to maturity. The Policyholder does not have the option to switch units from one fund to another or change the apportionment of Premium to various funds under the Wheel of Life Strategy. The Policyholder can also switch out of this Portfolio Strategy altogether at any Policy Anniversary by giving written notice to the Insurance Company 30 days in advance.
    • Trigger Based Portfolio Strategy: The Trigger Based Portfolio Strategy is designed to maintain Asset Allocation and to secure the gains. The Strategy can be opted at Policy Commencement only. The Premium is allocated to 2 funds – Equity Growth Fund II, an equity oriented fund and Bond Fund, a debt oriented fund – in a 75%: 25% proportion. The fund allocation can get subsequently altered due to market movements. The funds in the portfolio are rebalanced or reallocated after a 15% upward/downward movement in Unit Price of Equity Growth Fund II or the Bond Fund, from the previous rebalancing or from the Unit Price at the inception of the Policy, whichever is later. On the occurrence of the trigger event, any value of units in Equity Growth Fund II in excess of 3 times the value of units in Bond Fund are considered as gains and switched to the Liquid Fund by redemption of appropriate units from Equity Growth Fund II. Thus, this strategy maintains the asset allocation between the Equity Growth Fund and Bond Fund at 75%:25%. The Policyholder can also switch out of this Portfolio Strategy altogether at any Policy Anniversary by giving written notice to the Insurance Company 30 days in advance.
    • Auto Transfer Portfolio Strategy: The Auto Transfer Portfolio Strategy helps to save money in a systematic way by automatically transferring money every month, from a low-risk fund to funds of your choice. In this strategy, the Premium is allocated to a Bond Fund/Liquid Fund of the Policyholder’s choice and at the start of each monthly anniversary of the Policy, a proportion of Fund Value in the Bond Fund/ Liquid Fund as on that date will be switched to the other Funds as specified by the Policyholder. The proportion to be switched depends upon the number of outstanding months till the next Premium due date. The Policyholder can also switch out of this Portfolio Strategy altogether at any Policy Anniversary by giving written notice to the Insurance Company 30 days in advance.
    • Capital Preservation Portfolio Strategy: The Capital Preservation Portfolio Strategy can be opted only at Policy Inception for a Policy Term greater than 10 years with the minimum difference between the Policy Term and Premium payment Term being greater than 5 Years. The strategy invests across a mix of 5 high and low risk funds with the objective being that the invested money and accumulated returns are subjected to lesser market volatility closer to maturity years. The strategy allocates the Regular/Limited/Single Premium and the Top Up premium, if any, in the Equity Growth Fund II, Accelerator Mid-Cap Fund II, Pure Stock Fund II, Bond Fund & Liquid Fund in a pre-defined proportion. At each policy anniversary, the Insurance Company reallocates the Fund Value among various funds in the pre-defined proportion depending on the outstanding years to maturity. The Policyholder can also switch out of this Portfolio Strategy altogether at any Policy Anniversary by giving written notice to the Insurance Company 30 days in advance.
13. Partial Withdrawals: Bajaj Life Smart Wealth Gain Plan V allows partial withdrawals after completion of lock-in Period of 5 years
14. Settlement Option: Policyholders can choose to receive Maturity Benefits or Death Benefit in installments over 5 years, ensuring regular income instead of a lump sum.
15. Policy Charges: The Policy incurs a number of charges including Premium Allocation Charges ranging from 0% to 6% Per Annum, Policy Administration Charges, Fund Management Charges (ranging from 0.50% to 1.35% per annum), Mortality Charges, Discontinuance Charges, Miscellaneous Charges etc.

How to check Bajaj Life Insurance Policy status online?**

The Policyholder can check Bajaj Life Insurance Policy Status online by following the below mentioned steps:

1. Visit the official Bajaj Life Insurance Website, Login to the Life Assist Customer Portal and Click on ‘Sign Up’ if you are a New User
2. Provide necessary details such as Policy number, Instalment Premium without Tax, Date of Birth, Mobile Number and Email ID.
3. Create a User ID and Password for your account
4. After Registration, login to the Customer Portal using your credentials where you can view your Policy Status

How to check Bajaj Life Insurance Policy status on Whatsapp?*

The Policyholder can check Bajaj Life Insurance Policy Status on Whatsapp by Messaging “Hi” to 8806727272 from the registered mobile number

How to find Bajaj Life Insurance Policy Number?

Visit the official Bajaj Life Insurance Website, Login to Life Assist Customer Portal using your User ID and Password. After logging into the customer Portal, you can view all your Active Bajaj Life Insurance Policy Numbers. Alternatively, the Policy Document also mentions the Policy Number.

How to Revive a Lapsed Bajaj Life Insurance Policy online?

The Policyholder should follow the below-mentioned steps to revive the Lapsed Bajaj Life Insurance Policy online:

1. Pay Outstanding Premiums: Pay all the outstanding Premiums alongwith Interest including the Overdue Premiums for the Lapsed Period. The Interest Rate payable on the outstanding Premiums is decided by Bajaj Life Insurance Company. The Premium can be paid on the Bajaj Life Insurance Website: Go to ‘Customer Service’> ‘Pay Premium’ > ‘Mobile Number/Email ID’ and follow the instructions.
2. Submit Revival Application: Once all the outstanding Premiums have been paid, the Policyholder must submit a Policy Revival application along with a Health Declaration. The revival application includes details like Policy Number, Reason for Policy Lapse, etc.
3. Approval for Policy Revival: After reviewing the Policy revival application, Bajaj Life Insurance Company approves the Policy Revival provided that all requirements are met. The Policyholder receives a revived document confirming the Policy Revival.

How to avail a Loan against a Bajaj Life Insurance Policy?*

The Policyholder can avail a loan against his Bajaj Life Insurance Policy after the Policy has acquired a Surrender Value. The Loan amount can be used to meet liquidity requirements. The process to avail a loan against a Bajaj Life Insurance Policy is listed below:

1. Visit your nearest Bajaj Life Insurance branch or authorized bank with the Original policy document, KYC documents (ID/address proof) and Cancelled cheque
2. Fill and submit the loan application form.
3. Assign the policy to the lender by signing the required forms.
4. Once processed, funds are credited to your bank account.

Loan Amount and Interest Rate

The Loan amount depends on the type of the Policy being Pledged. Loan Amount ranges upto 80% of the Surrender and the Insurance Company usually charges 9 to 10% p.a. Repayment Options There are the following repayment options for Loan Repayment against Bajaj Life Insurance Policies

1. Pay interest and principal as EMIs.
2. Pay only interest regularly; principal is repaid later or adjusted from maturity/surrender proceeds.
3. If the loan and interest are not repaid, the outstanding amount is deducted from the policy’s maturity or death benefit.

Important Points

• The policy is assigned to Bajaj Life Insurance Company or the Bank until the loan is repaid in full.
• If the Policyholder defaults on the Loan, the lender can recover dues from the policy proceeds.

What are the various riders in a Bajaj Life Insurance Policy?

You can enhance your Bajaj Life Insurance Policy Coverage by opting for various riders by paying additional Premium. Bajaj offers the following riders:

Bajaj Life Care Plus Rider

Bajaj Life Care Plus Rider (UIN: 116A059V01) is a Non-Participating, Linked, Individual Pure Risk Health rider which provides coverage against any unforeseen medical conditions. The Plan is available in 5 variants: Prime, Pro, Ultra, Prestige and Optima. The Rider provides OPD Benefits, Accidental Total Permanent Disability (ATPD) benefit and Waiver of future premiums on ATPD.
The OPD Benefit under the Bajaj Care Plus Rider provides various Health, Fitness and and Wellness Benefits such as Doctor Consultations, Lab and Radiology Services, Pharmacy Services, Gym Service, Preventive Health Checkups etc. The ATPD Benefit pays an additional lumpsum amount in case of Total Permanent Disability of the Life Assured due to an accident. The Rider pays higher of ATPD Sum Assured or Guaranteed Benefit of 105% of Total Premium paid under the rider in case of Accidental Total Permanent Disability of the Assured. The Waiver of Premium (WOP) Benefit waives of all Future Rider Premiums and continues with OPD Benefits till the end of Rider Term on occurrence of Accidental Total Permanent Disability of life assured. The Rider has a Minimum and Maximum Entry Age of 18 Years and 65 Years respectively and a Minimum and Maximum Maturity Age of 19 Years and 75 Years. The Minimum Rider Term for a Single Premium Policy is 1 Year, Regular Premium Payment Policy is 2 Years and Limited Premium Payment Policy is Premium Payment Term + 1 Year while the Maximum Rider Term is 20 Years. The Minimum Rider Premium Payment Term is 1 year for Single/Limited/Regular Premium Payment Policies while the Maximum Rider Premium Payment Term is equal to Rider Term.

Bajaj Life Linked Accident Protection Rider II

Bajaj Life Linked Accident Protection Rider II (UIN: 116A057V01) provides comprehensive financial protection against total permanent disability or demise due to an accident. The Rider is offers 4 coverage options:

1. Accidental Death Benefit: The Accidental Death Benefit Variant pays a lumpsum amount in case of Death of the Life Assured due to an accident. The Rider pays higher of Accidental Death Benefit (ADB) Sum Assured or Guaranteed Benefit of 105% of Total Premium paid as a lumpsum benefit in case of death of the Life Assured.
2. Accidental Death Benefit with Return of Premium (ROP): The Accidental Death Benefit with Return of Premium Variant pays a lumpsum amount in case of Death of the Life Assured due to an accident. The Rider pays higher of Accidental Death Benefit (ADB) Sum Assured or Guaranteed Benefit of 105% of Total Premium paid as a lumpsum benefit in case of death of the Life Assured. This Rider also returns all the Premiums Paid on the Rider Maturity Date if the Rider is in Force as a Maturity Benefit
3. Accidental Total Permanent Disability Benefit: The Accidental Total Permanent Disability Benefit Rider pays an additional lumpsum amount in case of Total Permanent Disability of the Life Assured due to an accident. The Rider pays higher of ATPD Sum Assured or Guaranteed Benefit of 105% of Total Premium paid under the rider in case of Accidental Total Permanent Disability of the Assured.
4. Accidental Total Permanent Disability Benefit with Return of Premium: The Accidental Total Permanent Disability Benefit with Return of Premium Rider pays an additional lumpsum amount in case of Total Permanent Disability of the Life Assured due to an accident. The Rider pays higher of ATPD Sum Assured or Guaranteed Benefit of 105% of Total Premium paid under the rider in case of Accidental Total Permanent Disability of the Assured. This Rider also returns all the Premiums Paid on the Rider Maturity Date if the Rider is in Force as a Maturity Benefit.

The Rider has a Minimum and Maximum Entry Age of 18 Years and 65 Years respectively and a Minimum and Maximum Maturity Age of 19 Years and 75 Years. The Minimum and Maximum Rider Term for Accidental Death Benefit & Accidental Total Permanent Disability Benefit Variant is 1 year and 57 years while the Minimum and Maximum Rider Term for Accidental Death Benefit & Accidental Total Permanent Disability Benefit with Return of Premium Variant is 10 years and 50 years.The Rider has a Minimum Sum Assured of Rs1 lakh and there is no limit on Maximum Sum Assured.

Bajaj Life Linked New Critical Illness Benefit Rider

Bajaj Life Linked New Critical Illness Benefit Rider (UIN: 116A060V01) is a linked, non-participating, pure risk health rider which provides coverage against 60 Critical Illnesses such as Cancer, Myocardial Infarction, Open Chest CABG, End Stage Lung Failure etc. The Rider pays a lumpsum amount (Rider Sum Assured) on the first diagnosis of any one of the listed critical illness subject to Life Assured surviving for 14 days from the date of confirmed diagnosis. The Rider has a Minimum and Maximum Entry Age of 18 Years and 65 Years respectively and a Minimum and Maximum Maturity Age of 19 Years and 80 Years. The Minimum and Maximum Rider Term for Bajaj Life Linked New Critical Illness Benefit Rider is 1 year and 30 years. The Rider offers a Regular Premium Payment Term as well as a Limited Premium Payment Term of 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 12, 15, 20, Pay till Age 60 years. The Rider has a Minimum Sum Assured of Rs50,000 and there is no limit on Maximum Sum Assured.

Bajaj Life Accidental Death Benefit Rider

Bajaj Life Accidental Death Benefit Rider (UIN:116B034V02) pays a lumpsum amount (Rider Sum Assured) in case of Death of the Life Assured due to an accident during the Rider Term. The Rider has a Minimum and Maximum Entry Age of 18 Years and 60 Years respectively and a Maximum Maturity Age of 65 Years. The Minimum and Maximum Rider Term for Bajaj Life Accidental Death Benefit Rider is 5 years and 47 years. The Rider offers a Regular Premium Payment Term as per the Base Policy Term subject to a maximum of 30 Years. The Rider has a Minimum Sum Assured equal to the Base Policy Sum Assured and the Maximum Sum Assured is Rs1 Crore.

Bajaj Life Accidental Permanent Total/Partial Disability Benefit Rider

Bajaj Life Accidental Permanent Total/Partial Disability Benefit Rider (UNI: 116B036V02) pays a Lumpsum amount in case of Permanent Total or Partial Disability of the Life Assured due to an accident. The Rider pays 50% of the Rider Sum Assured if the Life Assured suffers from a Permanent & Partial Disability and 100% of the Rider Sum Assured if the Life Assured suffers from a Permanent & Total Disability. The Rider has a Minimum and Maximum Entry Age of 18 Years and 60 Years respectively and a Maximum Maturity Age of 65 Years. The Minimum and Maximum Rider Term for Bajaj Life Accidental Death Benefit Rider is 5 years and 47 years. The Rider offers a Regular Premium Payment Term as per the Base Policy Term subject to a maximum of 30 Years. The Rider has a Minimum Sum Assured equal to the Base Policy Sum Assured and the Maximum Sum Assured equal to Base Policy Sum Assured subject to a maximum of Rs1 Crore.

Bajaj Life Family Protect Rider

Bajaj Life Family Protect Rider (UNI: 116B056V01) is a Non-Linked Non-Participating, Individual Pure Risk Health Rider which pays the Parents of the Life Assured an immediate Lumpsum Amount equal to 105% of Total Premiums Paid till date plus a monthly income as a percentage (0.1% to 0.5%) of Rider Sum Assured as opted at Policy inception for the rest of their life if the Life Assured suffers from Death or Accidental Total Permanent Disability. The Rider can be opted for a Single or both Parents together and the Rider is triggered on the Death or Accidental Total Permanent Disability of the Life Assured. The Rider has a Minimum and Maximum Entry Age of 18 Years and 65 Years respectively for the Life Assured and 35 years and 99 Years for the Beneficiary. The Minimum and Maximum Maturity Age of the Life Assured is 19 Years and 75 Years. The Maximum Rider Term for Bajaj Life Family Protect Rider is 57 years. The Rider offers a Regular Premium Payment Term as per the Base Policy Term and a Limited Premium Payment Term of 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 15, 20 years and Pay till Age 60 Years. The Rider has a Minimum Sum Assured of Rs50,000 and a Maximum Sum Assured equal to Base Policy Sum Assured.

Bajaj Life New Critical Illness Benefit Rider

Bajaj Life New Critical Illness Benefit Rider (UIN: 116B058V01) is a Non-Linked, Non-Participating, Pure Risk Health Rider which provides coverage against 60 Critical Illnesses such as Cancer, Myocardial Infarction, Open Chest CABG, End Stage Lung Failure etc. The Rider pays a lumpsum amount (Rider Sum Assured) on the first diagnosis of any one of the covered Critical Illness subject to Life Assured surviving for 14 days from the date of confirmed diagnosis. The Rider offers flexibility to the Policyholder to choose from 3 Rider Options: Critical Option (covering 10 Major Critical Illnesses), Enhanced Option (covering 25 Major Critical Illnesses) and Comprehensive Option (covering 60 Major Critical Illnesses) The Rider has a Minimum and Maximum Entry Age of 18 Years and 65 Years respectively and a Minimum and Maximum Maturity Age of 19 Years and 80 Years. The Minimum and Maximum Rider Term for Bajaj Life New Critical Illness Benefit Rider is 1 year and 30 years. The Rider offers a Regular Premium Payment Term as well as a Limited Premium Payment Term of 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 12, 15, 20 and Pay till Age of 60 years. The Rider has a Minimum Sum Assured of Rs50,000 and there is no limit on Maximum Sum Assured.

How to surrender Bajaj Life Insurance Policy?

Bajaj Life Insurance Policies can be surrendered completion of 1st policy year provided one full year’s premium(s) has been paid. On Policy Surrender, the Policyholder receives the Surrender Value which is equal to higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV). The Policy acquires a Special Surrender Value (SSV) after completion of 1st policy year provided one full’ year premium has been paid and a Guaranteed Surrender Value (GSV) provided 2 full years’ premiums have been paid. Upon payment of Surrender Value, the Policy terminates, the Coverage ceases and no further benefits are payable under the Policy.

Process to surrender Bajaj Life Insurance Policy

1. Visit the Home Branch and submit Surrender Form: Go to the Bajaj Life Insurance Branch where you originally purchased the Policy. You need to submit the completed Surrender Discharge Voucher Form to the branch or download it from the website.
2. Submit Required Documents: Submit the following documents along with the Surrender form to surrender your LIC Policy
   • Original policy bond/document
   • Self-attested copy of ID proof (e.g., Aadhaar, PAN)
   • Cancelled cheque
   • Any other documents as specified by LIC or the branch
3. Document Verification: The Bajaj Life Insurance branch will verify your documents and process your request.
4. Processing and Payout: After verification, Bajaj Life Insurance Company calculates the Surrender Value. The Surrender Value is usually credited to your registered bank account within 7–10 working days after approval.

How to make Bajaj Life Insurance Premium Payment Online?

Bajaj Life Insurance Policy Premium Payment can be done online through the through Bajaj Life Insurance website.

Bajaj Life Insurance Policy Premium Payment through Bajaj Life Insurance Website

1. Go to Bajaj Life Insurance website, and Click on the ‘Customer Service’ button, Click on ‘Pay Premium’
2. Enter Policy Number, Date of Birth, Mobile Number and Email ID. The Website will display the Policy Premium
3. Pay the premium using net banking, UPI, credit/debit card or wallet.
4. The renewed Insurance Policy will be emailed to your registered email ID.

Bajaj Life Insurance Policy Premium Payment through Qian Insurance Broking*

1. Contact Qian Insurance Broking at insurance@qian.co.in or 022-35134695
2. The Bajaj Life Insurance Team at Qian will send you a payment link for paying the Premium for your Bajaj Life Insurance Policy
3. Review the Premium Amount and Pay the premium using net banking, UPI, credit/debit card or wallet.
4. Once you make the payment, you will receive the premium payment receipt at your registered email address. You can also make Bajaj Life Insurance premium payments offline at the cash counter of the nearest Bajaj Life Insurance Company branch.

Purchase Bajaj Life Insurance Policies through Qian Insurance

When you purchase your Bajaj Life Insurance Policy through Qian, you get more than just Insurance — you get expert support every step of the way. Our IRDAI-licensed advisors guide you in choosing the right plan based on your goals and budget, ensuring you make an informed decision. Qian is a licensed Insurance Broker with Bajaj Life Insurance Company. We can assist you with all Insurance Policies as well as Claim Settlement Process with Bajaj Life Insurance Company. Get a Quote for Bajaj Life Insurance Policy with Qian at insurance@qian.co.in or call us on 022-35134695. We would be glad to assist you.