Bajaj Allianz term insurance is one of the most affordable ways to protect you and your family in the event of any eventuality. A policy can be customized in such a way that it meets your specific needs, and provides protection against emergencies. You can also add multiple add-ons to your policy to increase the coverage, and keep your finances at peace. You can even cancel the policy, if it doesn’t meet your requirements.
Bajaj Allianz is a leading insurance company in India with a vast network of branches and agents across the country. The company is rated AAA (In) by CARE and offers a wide range of insurance products to its customers.
The premiums of a term insurance policy can be claimed as a deduction from taxable income. However, tax benefits are not available if the policy is terminated before the end of the policy term.
The tax benefit is applicable on the total premiums paid during the financial year, irrespective of whether the premium is payable in cash or in installments. The maximum amount of premium which can be claimed as a tax exemption is Rs.1.5 lakh. Those claiming the benefits are required to satisfy certain conditions under the Income Tax Act, 1961.
Offer multiple add-ons
Bajaj Allianz offers a variety of term insurance plans. Whether you’re an Indian resident or an NRI, you can buy one of these plans. The company also offers a few rider options to enhance the coverage of your policy. Getting an insurance plan is not a one-size-fits-all proposition, but it’s a good idea to know what you’re buying before making a decision. If you want to know about bajaj Allianz term review, visit their website.
The main attraction of a term insurance plan is that it offers pure life cover. This means that the sum assured is paid out in one go, and you are not required to make premium payments for a set period of time. The best part is that the premiums are very reasonable. However, the amount may vary over the course of the policy.
Provide protection against specific emergencies
Bajaj Allianz term plan offers a wide range of term insurance to choose from. Each plan offers different benefits. These include protection against specific emergencies, a range of death benefit options, and flexible premium options.
The company also offers a variety of riders that provide extra coverage to a term policy. These rider benefits can cover a range of risks, such as accidents, sexually transmitted diseases, alcohol abuse, and more.
The company has more than 500 branches in India, along with a network of more than 80,000 agents. In addition to this, Bajaj Allianz also provides online services to customers. These digital services help save time and money.
The company’s website features a ‘live chat’ tab on its homepage, allowing customers to ask questions and get answers. The policyholder can also check his or her policy status by email. To do so, the customer must enter the policy number, date of birth, and email ID.
Cancel the policy
If you wish to cancel your Bajaj Allianz term insurance policy, there are various ways available. You can choose to do so online, offline or through a written request. The process may take 8 to 10 days.
Typically, you need to complete an application form, attach a copy of the policy and provide other required documents. You will then be contacted by a representative of Bajaj Allianz. They will update you on the status of your policy.
If you have purchased an online policy, you can complete the cancellation form on the website. This will be sent to the insurer for processing. You must provide your full name and policy number. It is advisable to submit a written document with the details of your policy and bank account details.