Claim Settlement Ratio of 99.02%~


  • World's First Music Video Created Retired Senior Citizens

  • Apne life goals ki guaranteed1 hona Ye Bhi Sahi Hai

  • Fulfill your Life Goals with Bajaj Allianz Life Goal Assure

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

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

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

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

  • Paying your Renewal Premium is Quick and Easy!

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

  • Avail Term Insurance Tax Benefits under Section 80D

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


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


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

Bajaj Allianz Life Saral Jeevan Bima A Non Linked, Non-Participating, Individual Pure risk premium Life Insurance Plan

    • Life Cover
    • Life cover up to a term of 40 years
    • High sum assured rebate*
    • Female life rebate**
Saral Jeevan Bima
  • Overview
  • Key Advantage
  • How this works
  • Eligibility
  • Downloads
  • Sample Illustration
  • Policy Benefits

Saral Jeevan Bima Term Insurance Plan - Overview

When it comes to shielding your financial and life goals from future uncertainties, a simple plan is a good way to approach it. That is why when it is about protecting your family and their future, pure life cover is what you need.

Bajaj Allianz Life Saral Jeevan Bima, a non-linked, non-participating, individual pure risk life insurance plan, is such an offering. This term policy offers up to Rs 25 lakh life cover for a maximum period of 40 years so that you can live your life without a thought about the financial safety of your family after you.

Life Cover:

The term insurance plan offers life cover to protect your family in case of an unfortunate event of your death.

Multiple premium paying terms:

The term plan offers single, limited (5 and 10 years) and regular premium paying terms to help you opt for an option in line with your particular needs.

Life cover up to a term of 40 years

The term plan offers life cover for up to 40 years

Multiple premium paying frequencies:

One can pay Single premium or Regular/Limited premiums on a monthly, half-yearly, or on yearly basis.

High Sum Assured Rebate:

The term insurance plan offers a rebate in premium for every additional Rs 1 lakh increase in Sum Assured above Rs 5 Lakhs.

Female Life Rebate:

The premium rate applicable to female life is based on the premium rate of 3 years younger male.

Tax benefits:

The benefits under the term plan are eligible for tax benefits as per extant Income Tax Act, 1961, subject to the provision stated within.

  1. 1

    Choose your Sum Assured

  2. `
  3. 2

    Choose your Policy Term

  4. `
  5. 3

    Choose your Premium Payment Term

  6. `
  7. 4

    Choose your Mode of Premium payment

    Your premium will be based on your age, gender, and the above details.

  8. `

Entry Age

Minimum age is 18 years

Maximum age is 65 years

For Policies sourced through POS channel, the minimum and maximum entry age will be as per the POS Guidelines as amended from time to time.

Maturity Age

Maximum Maturity Age

70 years

For Policies sourced through POS channel, the maximum maturity age will be as per the POS Guidelines as amended from time to time.

Sum Assured

Minimum Sum Assured

5 lakhs

Maximum Sum Assured

25 lakhs

Policy Term

Minimum Policy Term

5 years

Maximum Policy Term

40 years

Premium Payment options

  • Single Premium
  • Limited Premium for 5 years or 10 years
  • Regular Premium

Premium Payment Modes

Single/Yearly/Half yearly, Monthly

Monthly is available only under ECS/NACH

  • Death Benefit

Life Assured’s age at entry

Policy term

Premium Paying Term

Sum Assured

Annualized Premium

30 years/male

30 years

30 years

25 lakh

Rs. 8,321

35 years/male

30 years

30 years

25 lakh

Rs. 11,848

40 years/male

30 years

30 years

25 lakh

Rs. 17,525

Premium shown above is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws and any extra premium.

The plan can be purchased directly from the company’s website also at the applicable premium rates.

Death Benefit

"This Policy will cover death due to accident only during the waiting period of 45 days from the date of commencement of risk. In case of death of the Life Assured other than due to accident during the waiting period, an amount equal to 100% of all premiums2 received excluding taxes4, if any, shall be paid and the Sum Assured shall not be paid."

On death of the Life Assured, provided the policy is in force, the death benefit payable to the nominee would be as follows:

Premium payment type

Death benefit

Limited premium/Regular premium

Death benefit equal to Sum Assured on death which is the highest of:

  • 10 times the Annualized premium1, or
  • 105% of all premiums2 paid as on date of death, or
  • Absolute amount assured to be paid on death3

Single premium

Death benefit equal to Sum Assured on death which is the higher of:

  • 125% of Single premium2, or
  • Absolute amount assured to be paid on death3

The death benefit mentioned above would be payable as a lump sum and would be applicable in case of:

  • Accidental Death of the Life Assured during the Waiting period; or
  • Death of the Life Assured due to any reason after expiry of the Waiting period


1Annualized Premium is the total amount of premium payable in a policy year excluding taxes4 , rider premiums, underwriting extra premiums and loadings for modal premiums, if any.

2Premium(s) shall not include any extra amount chargeable under the policy due to underwriting decision and rider premium(s), if any. This doesn’t include taxes4 which are payable separately.

3Absolute amount assured to be paid on death shall be an amount equal to Basic Sum Assured.

4Tax(es) refers to GST/any other applicable tax levied, subject to changes in tax laws.

Maturity Benefit

No maturity benefit is payable under this policy.

Documents you’ll need before investing

Term insurance benefits you should know about

Term Insurance Benefits and Things To Consider Before Buying a Term Insurance Plan

View term insurance plans from Bajaj Allianz Life

Term Insurance: How Much Should You Be Insured For And For How Long?


Life Insurance Glossary

Annualised Premium

“Annualised Premium” means the total amount of Regular Premiums payable in a Policy Year, after due consideration of applicable premium factors for various Premium Payment Frequency. (In this calculation, any extra premium, Rider Premium or applicable taxes are excluded.

Grace Period

“Grace Period” means a period of fifteen (15) days for a monthly Premium Payment Frequency and thirty (30) days for other than monthly Premium Payment Frequency, from the due date of the Regular Premium payment.

Life Assured

“Claimant” means the Life Assured (if alive) or Policyholder (if different from the Life Assured) or the assignee or the Nominee or the legal heirs of Policyholder/Nominee(s) to whom the Policy Benefit will be payable.

Maturity Date

“Maturity Date” means the date specified in the Schedule on which the Maturity Benefit as per policy document shall become payable to the Policyholder


“Nominee” means the person who has been nominated in writing to the Company by the Policyholder, who is entitled to receive the Death Benefits under the Policy as mentioned in Policy Document.

Paid-up Sum Assured on Death

“Paid-up Sum Assured on Death” is the reduced value of the Sum Assured on Death arrived at by multiplying the Sum Assured on Death with the proportion of the number of Regular Premiums paid to the total number of Regular Premiums payable under the Policy.

Paid-up Sum Assured on Maturity

If the Regular Premiums due for first three (3) Policy Years are paid and subsequent Regular Premiums are not paid, the Policy will, immediately and automatically, be converted to a paid-up Policy on the expiry of the Grace Period as per the conditions stated in the policy document.

Paid-up Sum Assured

“Paid-up Sum Assured” is the reduced value of the Sum Assured arrived at by multiplying the Sum Assured with the proportion of the number of Regular Premiums paid to the total number of Regular Premiums payable under the Policy


“Policyholder” means the adult person named in the Schedule who has concluded the Policy with the Company

Rider Benefit

“Rider Benefit” means the benefit payable under the Rider on the happening of the contingent event covered under the Rider. For more details, refer to the Policy Document

Rider Life Assured

“Rider Life Assured” means the person named as the Rider Life Assured in the Schedule whose life is assured under this Rider

Rider Premium

“Rider Premium” means the amount exclusive of applicable taxes, if any, payable by the Policyholder at regular intervals during the Rider Premium Paying Term, in amount (along with and as part of the Regular Premium) and at the Premium Payment Frequency.

Rider Premium Paying Term

“Rider Premium Paying Term” means the period specified in the Schedule during which the Rider Premium is payable.

Rider Term

"Rider Term” means the period between the Date of Commencement of Rider and the Rider Maturity Date, as mentioned in the Schedule

Sum Assured on Maturity

"Sum Assured on Maturity” is the amount as specified in the Schedule under the Policy Document

Sum Assured

“Sum Assured” is the amount as specified in the Schedule under the Policy.

Surrender Benefit

“Surrender Benefit” means the benefit, if any, payable on the surrender of the Policy. The details are as given in Policy Document

  • Talk to an Expert
  • About Us
Have us
call you
Please enter a Name
Please enter a Mobile No.
Please select a option
  • #1Top Riser Brand Amongst ‘Top 75' most valuable Indian Brands 20221
  • One of the most Trusted Brand2
  • Claims Settlement Ratio 99.02%~
  • 1 Day Claim Approval7
  • Solvency ratio of 581%^
  • AAA (IS):Stable Rating by CARE$
  • Claim deposits via electronic transfer to make process faster
  • ` 85,623 Crore Total Assets Under Management (AUM)**
  • 2.87 Crore number of lives covered#
  • Our Priority is not to sell Life Insurance, it is to serve you in the fastest & most convenient manner when you need us.

~Individual Claims Settlement Ratio for FY 2021-2022

**All figures as on 31 March 2022

^Solvency ratio 581% as at 31 March 2022 against IRDAI mandated 150%

#Individual & Group

1Report published by Kantar BrandZ India 2022

2Survey conducted by brand equity – Nielsen in March 2020

795.49% of non-investigative individual claims approved in one working day for FY 2021-22. 1 day is counted from date of intimation of claim before 3 PM on a working day (excluding Non-NAV days for ULIP) at Bajaj Allianz Life offices

$For details refer to press release published by CARE

"What are your life goals?" is one of the most common questions that comes to one's mind while taking any step further in Life. Most just answer it by laughing it off or saying we will think about it.

A key reason that they feel this way is that they haven't spent enough time thinking about what they want from their life, and haven't set themselves any goals.

Goals keep changing as per different life stages and one has to plan meticulously for their future.

Deciding your Life Goal is all about planning to "Live your life, your way". There could be various Life Goals such as trotting the globe, becoming a food blogger to starting your own business, owning your dream house, or planning your Childs education or marriage.

L"IF"E is full of IF's... and one needs to plan to secure their loved ones and themselves against the Ifs of Life. When you opt for a life insurance plan, you transfer your family's financial risks in case of any unfortunate event to the life insurer. This allows you and your loved ones to live life fearlessly. Life Insurance protects your family's financial wellbeing from the consequences of living without an income.

When you purchase a life insurance policy, one of your major life goal gets fulfilled i.e. you purchase a sense of security. A safety net that cushions your family members from the financial impact of your sudden absence and ensures that any outstanding debts that were incurred during your lifetime don't fall upon your loved ones.

Having life goals is an important aspect in each one's life. One needs to be SMART and plan out well in advance to ensure nothing goes wrong in the future. Life insurance offers a range of products that could come in handy for meeting your financial goals.

To ensure that it is not too late, get your #LifeGoals insured with us today! It will help you smile in the face of tomorrow's uncertainties and let you live a worry free life!

*HSAR – High Sum Assured Rebate is subject to policy terms and conditions

**Premium rate applicable to female life will be based on the premium rate of 3 years younger male