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.
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.
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.)
No. Policyholder can also pay premiums through NRE or NRO account maintained with Indian bank.
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.
Premium can be paid through the following modes:
You can also register for the below Auto pay options for seamless premium payments in future.
Yes, NRI can purchase Bajaj Allianz Life insurance policy through the online platform by adhering to the below given checklist:
Medical examination must be conducted by a medical practitioner provided the following conditions are met:
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.
The policyholder can get in touch with us through following modes:
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.
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.
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.
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.
Following documents are to be submitted along with claim intimation:
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.
Disclaimer : The final decision on application for Insurance is subject to Underwriting guidelines.