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Pay Your Renewal Premium Online - Super Quick

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Life Insurance Policy - Renewal Payment
  • Online Payment
  • Auto Debit/Auto Pay
  • Branch Office Locator
  • Credit Card
  • Debit Card
  • EMI on selected Banks
  • Netbanking
  • Unified Payment Interface (UPI)

Pay with ease using your credit card & stay invested in your Life Goals

Pay with ease using your debit card & stay invested in your Life Goals

Pay with ease using the EMI facility on select credit cards and stay invested in your Life Goals

Fill-up the net banking user ID & password/debit card details and proceed for registration

Pay with ease using UPI and stay invested in your Life Goals

  • Online Mandate - Net-Banking
  • UPI Mandate registration
  • Credit Card Standing Instructions (CCSI)

Auto Pay is an automated facility which enables you to set up auto-debit instructions on your bank account for regular debit of your premium amounts.

Steps for Online Mandate Standing Instructions

  • Authenticate policy details by entering your policy number & date of birth
  • Select preferred date (optional) & the mode of registration
  • Select your bank from the drop down list
  • Provide your bank account number and click on ‘Register Now’
  • Fill-up bank credentials and proceed for registration
  • On successful authentication from bank, you will receive an on-screen success message confirming completion of auto pay registration process
  • All future premiums will be debited as per the due date (or preferred date) from your bank account

Note: Keep your net banking login ID, password and registered mobile number handy. You will be redirected to the bank page for authorization. Click ‘Proceed when ready.

Auto Pay is an automated facility which enables you to set up auto-debit instructions on your bank account for regular debit of your premium amounts.

Note - Eligible for policies with mandate amount upto ₹ 15,000.

Steps for UPI Standing Instructions

  • Authenticate policy details by entering your policy number & date of birth
  • Select preferred date (optional) & the mode of registration
  • Provide your UPI address and click on 'Register Now '
  • You will receive a registration notification request on your UPI app
  • Approve the registration request
  • On successful authentication from bank, you will receive an on-screen success message confirming completion of auto pay registration process
  • All future premiums will be debited as per the due date (or preferred date) via your registered UPI ID

Note: Keep your UPI ID and registered mobile number handy. You will be redirected to the UPI page for authorization. Click ‘Proceed’ when ready.

Auto Pay is an automated facility that enables you to set up auto-debit instructions through various payment methods including your credit card for regular debit of your premium.

Steps to set-up auto-debit instructions on your credit card:

  • Authenticate policy details by entering the policy number & date of birth of the Life Insured
  • Select the preferred date (optional) & the mode of registration
  • Enter credit card credentials and click on 'Register Now '
  • OTP will be triggered on the registered mobile number via the registered credit card bank.
  • Enter the OTP and authorise the request.
  • On successful authentication from the bank, an on-screen success message will be displayed confirming completion of the auto-debit mandate registration on credit card.
  • All future premiums will be debited via the registered credit card on the due date (or preferred date) selected against the policy.

Note: Keep your card details and registered mobile number handy. You will be redirected to the bank page for authorization. Click ‘Proceed’ when ready

Walk-in to Bajaj Allianz Life Branch

  • You can pay renewal premiums by Cash / Cheque / DD / Credit Card / Debit Card at the nearest Bajaj Allianz Life branch to continue enjoying the policy benefits.

     

     

    Cheque / DD : The Cheque / DD for paying renewal premiums should be drawn in favor of Bajaj Allianz Life Insurance Company Limited
    NOTE : Kindly mention your Policy Number at the reverse side of the Cheque / DD

    Cash :Renewal premium payment in cash, subject to a maximum limit of Rs. 49,999 should only be deposited at Bajaj Allianz Life Branches
    NOTE : None of our agents / representatives are authorised to collect premiums in form of cash (except at Bajaj Allianz Life branches and branches of Axis Bank, SBI Bank and Common Service Centers (CSC) e-Governance

  • Credit Card / Debit Card

    Pay renewal premiums at Bajaj Allianz Life branches using Master / Visa credit cards or through Debit Card (Visa / Maestro / Master / Rupay accepted)

Other Payment Avenues

  • Banks branch to pay premium
  • Other outlets

State Bank of India

Pay renewal premium amount in Cash / DD or Cheque (local / at par) at any of the SBI Bank branches in India.

Steps to follow:

  • Walk in to any of the above Bank branch
  • Provide Bajaj Allianz Life Policy Number and Policyholder’s Date of Birth to Bank cashier
  • Hand over the Cash / DD or Cheque (local / at par) to the cashier
  • Take printed acknowledgement receipt from the cashier

Terms & Conditions

  • Renewal premium payment will be accepted in Cash only up to ` 49,999 / DD or Cheque (local / at par)

  • Renewal premium payment will be accepted only for Individual & Group Individual policies, provided the policies are in-force, or have lapsed within 180 days

  • Payments will be accepted at Bank branch only during the working hours

Axis Bank ATM Process

Axis Bank ATM Process


Axis Bank customers are also entitled to pay the renewal premium amount at AXIS Bank ATMs

Here are the simple steps for payment

  • On the main menu, select Special Services option and then select Insurance.
  • Choose Bajaj Allianz Life Insurance Company Ltd. as the biller under the Insurance Payment option.
  • You will be prompted to provide the 10 digit Policy Number. If the Policy Number is less than 10 digits then you have to pad it with zeroes in the beginning.
  • You will be prompted to re-enter your Policy Number.
  • Bajaj Allianz Life will respond with the following information on the ATM screen:
    • Policy Number
    • Policyholder’s Name
    • Premium Amount
    • Policy Due Date
  • You will receive a confirmation message to pay the renewal premium. On clicking confirm the premium amount will be debited from your account
  • The acknowledgement receipt will be generated from ATM with the below mentioned details:
    • Policy Number
    • Amount
    • Receipt Number

CSC

Pay renewal premium amount in Cash at any of the Common Service Centres (CSC) e-Governance in India

Steps to follow:

  • Walk in to any of the above outlet / service center
  • Provide Policy Number and Date of Birth to the cashier
  • Hand over the Cash as applicable
  • Take printed acknowledgement receipt from the cashier

Take printed acknowledgement receipt from the cashier

  • Renewal premium payment will be accepted in Cash only up to ` 49,999.

  • Renewal premium payment will be accepted only for individual & group individual policies, which should be in-force policies or policies that have lapsed within 180 days.

  • Payments will be accepted at these outlets / service centers only during the working hours.

Frequently Asked Questions

  • Renewal FAQs
  • Servicing FAQs

What is 'Renewal Premium Payment'?

Renewal Premium Payment is the amount that you need to pay against the policy on periodic basis for availing policy benefits and to keep the policy active .

What are the different payment methods to pay renewal premiums?

There are different payment methods which you can use to make renewal premium payment. 1) Online Payment 2) Auto debit registration 3) Cash/Cheque/Demand Draft

What are online and offline payment options?

Customers have two ways in which customer can make renewal premium payments which are:
Online Payment mode

  • Online Payments: Customer can visit BALIC digital touchpoints to make payment via Net Banking, Debit/Credit Cards, UPI etc.
  • Auto Payments: To regularize premium payments, customers can register for auto debit mandate to enable hassle free deduction of premium from their bank account.
Offline Payment mode
  • Cheque/Draft: customers can deposit cheque at any nearby BALIC Bank branch.
  • Cash: customers can submit cash at nearby Axis Bank branch.

What are the benefits of online premium payment?

Below are the benefits of online premium payment- • Convenient You can renew your policy from anywhere with internet access, saving you time and eliminating the need to visit a physical location. • Time Saving Online renewal typically takes just a few minutes, compared to potentially longer wait times and paperwork involved in offline renewal processes. • Immediate confirmation You'll receive instant confirmation of your renewal, providing peace of mind that your coverage is in place. • Automatic premium payment You can opt for automatic premium debit from your bank account. This will ensure that you do not miss the premium payment due date and that your policy continues to remain active. You can choose options such as UPI, credit card, debit card, net banking, and more to enable automatic premium debit. .

Can I divide my payment into multiple instalments?

No, you will have to pay entire premium to revive or renew your policy.

What is the auto debit and how can I activate Auto-Debit for my insurance premium?

Auto Debit Mandate is a service that automatically schedules and deducts premium amount from the source account /card on due date/preferred date. Customers are required to maintain sufficient balance in their bank account, at the time of auto-debit. Customers can register themselves as under: • Offline mode: Using this mode customer can register themselves for auto payments by submitting a NACH mandate form in the nearby Bajaj Allianz Life branch. • Online Mode: Customers can alternatively register themselves online for auto payments via online mandate on BALIC's website

What do you mean by Grace Period?

A grace period refers to the additional time provided by an insurance company after the due date for the premium payment has passed. During this grace period, policyholders can still make the payment without losing coverage, incurring penalties and policy lapse. It offers a bit of flexibility for individuals who may have missed the initial payment due date.

What happens if I miss paying a premium?

Customer can make a premium payment without any late fee till grace period and with interest till 6 months.

How can I revive my policy if it is inactive/lapse?

Post 180 days of non-payment of premium, customer is required to submit a Declaration of Good Health to revive the policy and avail policy benefits depending on policy terms and conditions.

Can I change the premium payment frequency?

Yes, the premium payment frequency can be changed to Monthly, Quarterly and Half-Yearly on policy anniversary, depending on policy terms and conditions.

How do I get a copy of my premium payment certificate online?

You can login to Customer Portal and select ‘Policy Statements’ and go to ‘Premium Receipts’ to get a copy of receipts.

Helpline number for payment related queries

Customer can reach out to Customer care on 1800-209-7272
and can write on customercare@bajajallianz.co.in with policy details for any queries.

Where can I view my renewal premium reminder notice/communication?

Renewal communication has been sent to you on your registered mobile number and registered email id which is updated in policy details.

What if I have missed renewal premium reminder notice/communication?

Don’t worry!! You may use below any one of the option to get your policy renewal premium details. • Website- Log on to the Bajaj Allianz Life Insurance website www.bajajallianzlife.comWhatsApp- Customer can make renewal premium payment through WhatsApp (8806727272) by choosing the “Premium Payment” option from menu list. Renewal Payment details will be displayed, and a payment link will be shared to make online premium payment • Life Assist - Customer Portal (Web Version)- Customer will log on Life Assist Customer Portal with policyholder credentials Customer PortalLife Assist – Mobile Application-Premium Payments can be paid online through mobile application Life Assist using policy details • BOING Chat BOT- Customer can initiate the payments through BOING- Chat BOT. This is accessible through website and customer portal. • Customer care - Customer can reach out to Customer care on 1800-209-7272

What are the different Premium payments option?

Bajaj Allianz Life offers a wide range of payment options which could be categorised into ONLINE OFFLINE Payment Options Online Payment Options 1)Net-banking
2)Credit card
3)Debit card
4)Wallet
5)UPI
6)EMI
7)Payment with QR Code

Offline Payment Options

  • Walk In to Bajaj Allianz Life branches
  • Walk into tied-up Banks and outlets

How can I get my policy serviced digitally?

We are committed to help you keep track of your Life Goals and manage them from anywhere, anytime with our instant and easy service options. We have a variety of digital service options available for you. Life Assist Customer Portal/ App: Our one stop, self-servicing tool that enables you to do any policy related transactions on your own. WhatsApp Servicing: Connect with us on WhatsApp to manage your policy in an easy manner. BOING ChatBOT: BOING is your personal assistant BOT to help you manage your queries. Live Chat Connect: Connect with our customer care executives for any policy related questions. Instant Premium Payment: Pay your premium through preferred mode-credit/debit card, net banking, e-wallet, UPI or register your policy on auto-debit facility. I-SERV Video Connect: Instant connect over a video call and enjoy a virtual branch experience from anywhere. You may scan the QR code to access our Digital Offerings.

Can I modify/ change any personal details and how?

Yes, you may modify/ change your personal details such as address, contact details, email address, bank details, PAN and password. You can do the same using following options: 1) Life Assist – Customer Portal/ App: Log on to the portal/ app. Go to My profile section. Choose the information to be updated. Fill in the details and upload necessary documents. Press confirm and an OTP will be sent to your registered mobile number. 2) WhatsApp Servicing: Say Hi to us on WhatsApp Number – 8806727272. Choose More Services. Click Update Personal Info and then select the information to be updated. Fill in the details and upload necessary documents. Press confirm and an OTP will be sent to your registered mobile number. 3) BOING CHATBOT: Connect with BOING CHATBOT on our website. Choose More Services. Click Update Personal Info and then select the information to be updated. Fill in the details and upload necessary documents. Press confirm and an OTP will be sent to your registered mobile number. You may also reach out at our Toll free number - 1800 209 7272, Customer Care Email Helpdesk at customercare@bajajallianz.co.in or Bajaj Allianz Life Branches to get details updated.

How can I switch funds in my portfolio digitally?

You may switch funds via Life Assist customer portal or mobile application using the following path:Life Assist My Services Fund Switch

What are the benefits of premium Auto-payment and how can I register for it?

Auto Payment is a service to deduct a specific amount (renewal premium amount) on a recurring basis from the Policy Holder’s Bank account/ digital wallet on the due date/ preferred date, automatically. It ensures a continuous life cover and other policy benefits for the policyholder. Various other benefits include:

  • One-time registration process
  • Trackable payments
  • Drives payment discipline
  • No need to remember policy due dates
Online premium autopay mandate can be registered using any of the below options: 1)Customer Portal-Life Assist: https://bajajallianzlifeonline.co.in/CustomerPortal/logon/index.jsp#!/login 2)Bajaj Allianz Life website: https://www.bajajallianzlife.com/ 3)Open Link: https://bajajallianzlifeonline.co.in/CustomerPortal/OpenLink/index.html#/ 4)WhatsApp: BALIC WhatsApp Number: 88067 27272) 5)BOING CHATBOT 6)INSTAB

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Disclaimers:
Plus Symbol
Minus Symbol

All charges/taxes, as applicable, will be borne by the Policyholder. An advance premium can be paid within the same financial year for any premium due in that financial year. For any premium payment due in the next financial year, the same can be paid three months prior to the premium due date. The premium shall be adjusted on the due date even if it has been received in advance.

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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, including via Voice over Internet Protocol & WhatsApp, SMS or WhatsApp messages, 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

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Disclaimer

$Tax benefits as per prevailing Section 10(10D) and Section 80C (under old tax regime) of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy

 

1Minimum premium mentioned is applicable for Bajaj Allianz Life Goal Assure IV - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L204V01) and is subject to policy terms and conditions.

*Benchmark: Nifty 500 Multicap Momentum Quality 50 Index past 5 CAGR Returns, as on 31st December 2024. Past returns of a fund are not necessarily indicative of the future performance of the fund. | Please consult the financial advisor before investing.

The Unit Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender or withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of the fifth year.

ULIPs are different from the traditional insurance products and are subject to the risk factors. The premium paid in ULIPs are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Bajaj Allianz Life Insurance Company Limited is only the name of the Life Insurance Company and Bajaj Allianz Life Future Wealth Gain IV - A Unit- linked Non- Participating Individual Life Savings Insurance Plan (UIN:116L202V01), Bajaj Allianz Life Goal Assure IV - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L204V01), Bajaj Allianz Life LongLife Goal III is A Unit-linked Non-Participating Whole Life Insurance Plan (UIN:116L203V01), Bajaj Allianz Life Invest Protect Goal III - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L205V01), Bajaj Allianz Life Magnum Fortune Plus III - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L207V01), Bajaj Allianz Life Goal Based Saving III - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN:116L206V01) and Bajaj Allianz Life Smart Wealth Goal V - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L201V01) are only the name of the unit linked insurance contracts and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document issued by the insurance company. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. 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.

Nifty 500 Multicap Momentum Quality 50 Index Fund is available Bajaj Allianz Life Future Wealth Gain IV - A Unit- linked Non- Participating Individual Life Savings Insurance Plan (UIN:116L202V01), Bajaj Allianz Life Goal Assure IV - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L204V01), Bajaj Allianz Life LongLife Goal III is A Unit-linked Non-Participating Whole Life Insurance Plan (UIN:116L203V01), Bajaj Allianz Life Invest Protect Goal III - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L205V01), Bajaj Allianz Life Magnum Fortune Plus III - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L207V01), Bajaj Allianz Life Goal Based Saving III - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN:116L206V01) and Bajaj Allianz Life Smart Wealth Goal V - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L201V01)

In addition to the already existing funds, Nifty 500 Multicap Momentum Quality 50 Index Fund is now available with the above mentioned products. Customer has an option to choose from other available funds apart from Nifty 500 Multicap Momentum Quality 50 Index Fund.

 

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