Claim Settlement Ratio of 99.02%~

Notifications11

  • World's First Music Video Created Retired Senior Citizens

    WATCH VIDEO
  • Apne life goals ki guaranteed1 hona Ye Bhi Sahi Hai

    WATCH VIDEO
  • Fulfill your Life Goals with Bajaj Allianz Life Goal Assure

    KNOW MORE
  • Here's a Comprehensive Tool To Plan Your Child's Future

    START NOW
  • There is lot to remember in Life, Set renewal premium payments to Auto Pay

    WATCH VIDEO
  • Get Life Cover worth Rs.1 Crore at Rs.20 per day2 – Bajaj Allianz Life Smart Protect Goal

    CALCULATE NOW
  • Get your Life Goals Done with Bajaj Allianz Life Smart Assist – BINA MILEY MIL-KAR

    KNOW MORE
  • Paying your Renewal Premium is Quick and Easy!

    PAY NOW
  • Know the right amount of Insurance you need in just a few steps!

    START NOW
  • Avail Term Insurance Tax Benefits under Section 80D

    READ MORE
  • Know how to invest money during the covid-19 pandemic!

    READ MORE

Thanks for sharing your details, A Sales representative from
Bajaj Allianz Life will contact you shortly.

Dear Customer, we request you to connect with us in our next business working hours, (Monday to Saturday 24*6) Thank you, Have a great day ahead

X

Terms & Conditions

I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) or on National Do Not Call Registry (NDNC), any call made, SMS or WhatsApp sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business

 

Please refer to BALIC Privacy Policy

Get 1 Crore Life Cover@ Rs.20 Per Day2

Covers COVID-19 Claims##

Ukraine-Russia War: Does Term Insurance Cover You In War? | Bajaj Allianz Life

Pay lower premium3 on online term plans

Please enter a Name
Please enter a Mobile No.
Please check the box to proceed
WS_LIGuideHome_Banner_EN 307 38983691 WS_LIGuideHome_Banner_HI 307 38983695
WS_LIGuideHome_Banner_Mob_EN 307 38983693 WS_LIGuideHome_Banner_Mob_HI 307 38983677
Please Select Language

2,3,##T& C Apply | BJAZ-BN-EC-03414/22

2,3,##T& C Apply | BJAZ-BN-EC-03414/22

Ukraine-Russia War: Does Term Insurance Cover You In War?


calender-blue

Aug 19, 2022

By : Bajaj Allianz Life

The Ukraine-Russia conflict has already claimed the lives of hundreds of civilians, including few Indian. Many customers who have a term insurance policy with an Indian insurance company want to know whether their policies would pay out if an insured person dies in such a circumstance.

 

Why get Long-Term Insurance?

 

Term life insurance plans cover fatalities regardless of where they occur. As a result, fatalities caused by events in Ukraine, such as the crisis or other circumstances, are covered by term life insurance. A term plan's sole exclusion is in the event of the policyholder's suicide, which must occur during the first year of the policy. As a result, there are no other substantial exclusions that may preclude beneficiaries from receiving the term insurance cover benefit in the event of a War like disaster. However, this does not imply that cover will be effective in all circumstances.

 

When a term insurance policy is dependent on where you live

 

Many individuals go overseas for a variety of reasons, including vacations, business trips, meetings, seminars, exhibits, medical treatment, and visiting family. Many others, such as students, workers, consultants, and others, remain for extended periods of time. The residential status for which the policy is taken, the nature of the abroad stay, the reason of death, and the kind of insurance policy that you have acquired will be taken into consideration when you are issued your term policy, from where on you will most probably know whether your term insurance cover will be effective in a Ukraine-style situation.

 

Who can acquire an Indian term policy?

 

NRIs as well as residents of India acquire term policies from Indian life insurance providers. Non-resident Indians and persons of Indian origin are permitted to invest in India-based insurers' term insurance policies. The NRI population also includes the wives, parents, and children of people who have relocated overseas in search of work. Both residents and non-residents go through the same procedure when acquiring term insurance. The term insurance for NRI will continue to be in force if the policyholder dies with the same residence status as mentioned in the policy. A natural death, regardless of where it happens, is normally covered for a short journey.

 

During a policy year, every change in residential status must be recorded

 

If your resident status changes in the midst of a policy year, you must notify the insurance company to ensure that the efficacy of your term insurance policy is not jeopardized. It's possible that you bought a term insurance policy as an Indian citizen but had to go overseas for work or other reasons during the policy's term. In such circumstances, policyholders must notify their insurer of their plans to relocate to another nation.

 

Wrapping Up

 

Many sections of the globe are still in shambles. Many Indians are unwittingly caught in the center of such crises. The death of a loved one, often the breadwinner, places additional financial strain on already bereaved families. A term insurance policy may help relieve some of the financial strain on these families by providing significant financial assistance to the nominees.

Sources:

https://economictimes.indiatimes.com/wealth/insure/life-insurance/ukraine-crisis-does-your-indian-life-insurance-policy-cover-you-if-stuck-in-war-abroad/articleshow/89973188.cms

BJAZ-WEB-EC-01013/22

Bajaj Allianz Life Videos

Play

Bajaj Allianz Life | Children's Day

Contact Us

Bajaj Allianz Life Insurance Company Ltd.

Bajaj Allianz House, Airport Road, Yerawada, Pune - 411 006, Maharashtra

Tel No: 020-66026773

Fax No: 020-66026789

Branch Visit Timings:

Monday to Friday - 9:00 AM to 3:30 PM

Saturday - 9:00 AM to 1:00 PM

Customer Care Helpline:

1800-209-7272

Monday to Sunday: 9:00 AM to 7:00 PM (IST)

NRI Services Helpline

24/7 (All week days)

Sales Enquiry Helpline:

1800-209-4040

Monday to Saturday: 9:00 AM to 7:00 PM (IST)

For NRI: +91-20-35125850 (Call charges apply)

Monday to Saturday: 9:00 AM to 7:00 PM (IST)

Find Us Online

##Our policy covers COVID 19 claims subject to policy terms and conditions being met

3Discount is available for regular premium and limited premium payment frequency under all variants of this product.

2Above illustration is considering Male aged 25 years | Non-Smoker | Life Cover Variant | Policy term (PT)– 30 years | Premium Payment Term (PPT) – 30 years | Sum Assured opted is Rs. 1,00,00,000 | Online Channel | medical rates | Annual Premium Payment Mode | Premium shown above is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws, and any extra premium and is for illustrative purpose only.

~Tax benefits as per prevailing Income tax laws shall apply. Please check with your tax consultant for eligibility.

The above information is for general understanding and is meant to educate the general public at large. The reader will have to verify the facts, law and content with the prevailing tax statutes and seek appropriate professional advice before acting on the basis of the above information. 

The views stated in this article is not to be construed as investment advice and readers are suggested to seek independent financial advice before making any investment decisions. For more details on risk factors, terms and conditions please read sales brochure & policy document (available on www.bajajallianzlife.com) carefully before concluding a sale.