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Bajaj Allianz Life NRI Insurance Plans

Investment Opportunities

 

Get in touch with us for quick assistance on your online purchase: 020-6768-8888

  • Bajaj Allianz Life LongLife Goal

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    • Retired Life Income
    • Whole of Life Insurance Cover
    • Loyalty additions
    • Periodical Return of Life Cover charges ULIP
    • Tax Benefits under Section 80C & 10(10D)*
  • Bajaj Allianz Life Goal Assure

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    • Return of Mortality Charges at maturity
    • Option to take maturity in instalments with Return Enhancer benefit
    • Choice of 4 investment portfolio strategies to meet your financial goals
    • Unlimited free switches between funds
    • Choice of eight (8) funds to invest as per your risk appetite
    • Tax benefits under section 80C and 10(10D)*
  • Bajaj Allianz Life Future Gain

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    • Up to 100% premium allocation to enhance your funds
    • Choice of seven (7) funds with unlimited free switches.
    • Choice of 2 investment portfolio strategies to choose from (Wheel of Life - Here our expert fund manager manages funds for you)(Investor selector- You can manage your own funds)
    • Option to pay top-up premium to maximize your fund value.
    • Option to take maturity benefit in installments (Settlement Option)
    • Premiums paid are tax exempted as per current Income Tax laws u/s 80 (C)
    • Maturity /Death benefits are totally tax exempted u/s 10/10(D)
  • Bajaj Allianz Fortune Gain

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    • Up to 100% allocation for single premium 10lac and above
    • Choice of seven(7) funds with unlimited free switches
    • Guaranteed Loyalty addition of 3% of the single premium for the term of 10 years and above.
    • Option to make partial withdrawals from the funds
    • Option to pay top-up premium equivalent to your single premium to maximize your fund value.
    • Premiums paid are tax exempted as per current Income Tax laws u/s 80 (C)
    • Maturity /Death benefits are totally tax exempted u/s 10/10(D)
  • Bajaj Allianz Life eTouch

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    • A competitive regular premium payment, pure term and health cover plan
    • 34 Critical illnesses covered
    • Flexibility to choose from four variant options to enhance your protection
    • Cover till the age of 75
    • Option for the nominee to receive the policy benefits in a lump-sum amount or in monthly instalments
    • Lower premium for leading healthy lifestyle for non-tobacco users
    • In Built WOP rider for all variants
    • Premiums paid are tax exempted as per current Income Tax laws u/s 80 (C)
    • Maturity /Death benefits are totally tax exempted u/s 10/10(D)
  • Bajaj Allianz Life Principal Gain

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    • Triple benefit of principal protection, potential of high returns and life cover
    • Guaranteed Loyalty Additions at maturity
    • Multiple policy term and premium payment term options to choose from
    • Option to take maturity benefit in installments (Settlement Option)
  • Bajaj Allianz iSecure Plan

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    • Avail a special reward for non-smokers for maintaining a healthy life which is at companies underwriting discretions.
    • Discounted premiums for healthy Non-smokers
    • Your nominee will have the option to take the death benefit in equal monthly installments over a period of 5 or 10 years (Settlement option).
    • Option to cover your spouse at the time purchase under Joint life category (you can cover your housewife up to 25lacs with the joint life facility)
    • Option to cover your spouse at the time purchase under Joint life category (you can cover your housewife up to 25lacs with the joint life facility)
  • Bajaj Allianz Retire Rich

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    • Option to select regular, limited or single premium payment
    • Guaranteed Vesting Benefit and Guaranteed Death Benefit.
    • Bajaj Allianz Retire Rich is a non-participating individual Unit-Linked Deferred Pension Plan with Regular/ Limited Premium and Single Premium options.
    • Option to change the premium payment term for regular/ limited premium option
    • Flexibility to pay top-up premium
    • Loyalty Additions will be added to the Fund Value on the original vesting date of the policy.
  • Bajaj Allianz Invest Assure

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    • Option to choose 1.25 times or 2 times of Sum Assured as life cover.
    • Compound reversionary bonus and terminal bonus.
    • Limited premium payment term.
    • Option to take policy benefit in monthly installments.
    • More value for money with high sum assured rebate.
    • Attractive premium rates for female life insured.
    • Option to enhance your coverage with rider benefits
  • Bajaj Allianz Lifelong Assure

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    • Cash Bonus starting from the end of 6th policy year
    • Life cover up to the age of 99 years
    • Guaranteed Cash Back of 3% on Sum Assured starting from the end of Premium Payment Term
    • Guaranteed Death Benefit / Maturity Benefit up to 300% of Sum Assured depending on the PPT chosen
    • Option to take policy benefit in monthly installments
    • Choice of 3 premium payment terms, viz., 10, 15 and 20 years
    • More value for money with high sum assured rebate
    • Premium rebate for female lives
  • Bajaj Allianz Life Future Wealth Gain

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    Grow your money even as you secure your future…

  • Bajaj Allianz Life Goal Based Saving

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    Invest systematically to help you live the life of your dreams…

Why should Non-Resident Indians (NRIs) invest in India?

  • The Indian economy is on an upswing supported by sustained reforms over the years. It is already one of the fastest growing economies in the world, and experts believe that the country can sustain this growth for some time ahead. Further, India is also home to one of the largest community of entrepreneurs and new-age startups, all set for big things in the future.
  • As an NRI you can also be a part of India’s growth story by investing through various financial products. The Indian market offers considerable returns on investments, tax benefits and convenience of investment, thus enabling you to meet your life goals. The new-age Unit Linked Insurance Products (ULIPs) are emerging as investment vehicles of choice to allow you to benefit from investing in the equity market. They are flexible, offer the dual benefit of life insurance and investment and are designed for long-term investments.
  • Bajaj Allianz Life has a portfolio of innovative insurance products including Retirement plans, Savings Plans, Investment plans, and Child plans, to help you fulfil your life goals. The funds in which you invest are managed by a team of experienced fund managers who have continuously generated substantial returns over different market cycles. With a proven track record of consistent fund performance, Bajaj Allianz Life is one of the most trusted names in the life insurance industry in India, which is helping investors meet their life goals.

Who is a Non- Resident Indian (NRI)?

NRI is a citizen of India who holds a valid passport issued by Govt. of India and is temporarily residing outside India for the purposes of employment or business or otherwise. Any person holding 'Person of Indian Origin' (PIO) Card/ 'Overseas Citizens of India' (OCI) Card shall be considered at par with NRI.

Can NRI invest in an insurance policy in India?

Yes. NRI including PIO and OCI can invest in an insurance policy in India to meet their life goals, subject to applicable Underwriting Guidelines of the Company and other applicable laws.

Can NRI claim tax exemptions by investing in an insurance product?

The Income Tax Act 1961, provides certain benefits to NRI on the income earned in India. Tax benefits can be availed under section 80C and 80D. Further, on claim proceed, tax benefit can be availed under section 10(10D). *Tax benefits as per prevailing Income tax laws shall apply. (*Please check with your tax consultant for eligibility.)

Do I need to maintain accounts with an Indian banks to pay premiums for policies?

No. Policyholder can also pay premiums through NRE or NRO account maintained with Indian bank.

Can I pay the premium in foreign currency?

Yes, the policy premium can be paid in Indian currency (INR) equivalent to foreign currency from your foreign bank account by remitting money electronically through SWIFT in our bank account.

What are the different premium payment modes available for NRI customers?

Premium can be paid through the following modes:

  • Credit Card – Domestic & International
  • Net Banking
  • Debit Card
  • Wallets (Paytm, Mobikwik & Google Pay)
  • UPI

You can also register for the below Auto pay options for seamless premium payments in future.

  • Online Mandate
  • Credit Card Standing Instructions (CCSI)
  • National Automated Clearing House (NACH)

Can NRI purchase an insurance policy online?

Yes, NRI can purchase Bajaj Allianz Life insurance policy through the online platform by adhering to the below given checklist:

  • The proposal form must be filled in completely online.
  • Scanned copy of the passport needs to be uploaded as your age and identification proof.
  • Anti-Money Laundering and Know Your Customer (KYC) requirements should be complied with which includes the following:
    • A recent photograph
    • Proof of residence in India and Overseas Address Proof
    • Income Proof as per list attached in online application (If applicable)
    • OCI or PIO Card, in case of a permanent overseas citizen
    • PAN / Form 60, in case income is earned in India
    • Foreign Residency Supplementary Questionnaire (NRI/PIO Questionnaire)

What are the options available in case the policy requires medical examination?

Medical examination must be conducted by a medical practitioner provided the following conditions are met:

  • Medical examination is to be conducted at Company's designated Lab or Doctor empanelled by the Company
  • In case, medicals through non-designated lab or non-empanelled Doctor or to be conducted at abroad, prior approval from Appropriate Authority from Bajaj Allianz Life Underwriting team is mandated.
  • Medical examination should be performed by a postgraduate doctor in allopath. Further, he/she should state his standing in practice, along with his signature and seal.
  • Medical examiner must verify the passport and the identity of the person to be insured. The copy of the passport used for identification needs to be sent along with the medical reports by the medical examiner.
  • The insured needs to sign the medical report in the presence of medical examiner.
  • The fees for medical reports will be in accordance with the pre-defined rates. The amount may be reimbursed to the insured as per the Company norms.

How will I get my insurance policy document?

The policy document will be sent to the mailing address (including foreign address) mentioned in the proposal form. Along with it, the soft copy of the insurance policy document will also be sent to the registered email ID.

How can I get additional information on my insurance policy?

The policyholder can get in touch with us through following modes:

  • Visit our Customer Portal (Life Assist) / Website
  • Download Life Assist App available on Android and IOS
  • BOING – our chatbot
  • Customer Care Number – 1800 103 7272
  • Email – customercare@bajajallianz.co.in

How will Bajaj Allianz Life communicate with me?

All communications in respect of the insurance policy or any other communication shall be to the registered email ID and/ or Indian address mentioned in the proposal form. Additionally, alerts through messages are sent at regular intervals on your registered Indian mobile number.

When does a policy lapse?

The insurance policy will lapse on non-payment of renewal premiums after the expiry of grace period. In this case, all benefits under the policy are lost. The grace period for monthly premium mode policies is 15 days and for all other modes, the grace period is 30 days. In case policy is purchased online, under any mode, the grace period is 30 days.

In case of lapse, can the policy be reinstated?

Yes, the policy can be reinstated by submitting a request with the required documentation (DGH, Medicals, if any) and paying all the due premiums (till the reinstatement date). Please refer to the product specific T&C for exact guidelines on reinstatement.

How to intimate claim?

Claimant can visit any of our Branch Office or Head Office to intimate claim. Claimant can also intimate the claim through post or courier or through authorised representative.

What are the documents required to process a death claim?

Following documents are to be submitted along with claim intimation:

  • Death Certificate issued by the Government
  • Claimant Statement/Intimation Letter
  • Photocopy of ID proof and address proof for claimant (with self-attestation)
  • Original policy bond
  • Copy of Bank passbook/NEFT mandate/Cancelled cheque of claimant
  • Medical Certificate issued by hospital (if available)
  • Post Mortem report and FIR (in case of accident)

What is the claim settlement process?

Claim will be settled upon receipt of all mandatory documents. In case, we need any further documents to process the claim, claimant shall be contacted at the communication address / contact no. mentioned on intimation letter.

How will the claims be paid?

  • Claims will be settled in Indian currency only.
  • If the claimant is NRI or PIO or OCI, subject to applicable RBI regulations and other acts,
    • Claim can be settled by direct credit to NRE / NRO / Foreign Bank account of the claimant.
    • Claim settled by crediting foreign bank account will be in proportion to the amount of premium paid in foreign currency, in relation to the total premium payable. Balance claim amount, if any, will be settled by crediting NRE / NRO account of the claimant, as applicable.
    • If premiums have been paid in non-repatriable rupees, then claim will be settled by crediting to NRO account only.
  • In case the claimant is an Indian Resident, then claim will be settled through direct credit to claimant’s Indian bank account only.
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Disclaimer : The final decision on application for Insurance is subject to Underwriting guidelines.