Bajaj Life Insurance is a Pune-based private life insurer (earlier called Bajaj Allianz Life) that is now 100% Bajaj-owned and reported a 99.33% individual death claim settlement ratio for FY 2025-26.
Bajaj Life Insurance at a Glance: Stats Table
Here is Bajaj Life Insurance in numbers:
| Detail | Latest Information (as of 2026) |
|---|---|
| Current company name | Bajaj Life Insurance Limited |
| Earlier name | Bajaj Allianz Life Insurance Company Limited |
| Name change date | 7 October 2025 |
| Parent group | Bajaj Finserv (Bajaj Group) |
| Ownership today | 100% Bajaj Group after Allianz’s full exit |
| Incorporated | 12 March 2001 |
| Head office city | Pune, Maharashtra |
| Individual death claim settlement ratio | 99.33% (FY 2025-26, company reported) |
| Previous year ratio | 99.29% (FY 2024-25) |
| Solvency ratio | 266% as on 31 March 2026 (rule requires 150%) |
| Assets under management | About ₹1.34 lakh crore (31 March 2026); ₹1.40 lakh crore (31 May 2026) |
| Quick claim approval | 99.29% of simple individual claims approved in one working day (FY 2024-25) |
| Main plan types | Term, ULIP, savings, retirement, child, NRI plans |
| Customer service number | 1800-209-7272 |
What Is Bajaj Life Insurance, Really?
Think of Bajaj Life Insurance as a company that makes one big promise: if something happens to you, your family gets money, and if you live, your savings can grow. That is life insurance in one breath.
The company sells:
- Term plans: pure protection. You pay a small amount, your family gets a big payout if you pass away during the plan.
- ULIPs: a mix of cover and investing. Part of your money buys protection, part goes into market funds.
- Savings plans: steady, goal-based plans for things like a house or a wedding.
- Retirement plans: build a pot now, get regular income later.
- Child plans: save for school and college, with cover on your life.
- NRI plans: for Indians living abroad.
What Does Bajaj Life Insurance Cover, and Up to What Age?
Let us keep this simple. Your Bajaj Life Insurance Policy covers the person whose life is insured, called the “life assured”. If that person passes away during the plan, the family gets money. Extra benefits depend on the plan you choose.
What the main term plan covers
The flagship term plan is Bajaj Life eTouch II. It comes in three versions:
- Life Shield: pays a lump sum to your family if you die during the plan. It also covers terminal illness, a sickness doctors say cannot be cured, so money can come earlier.
- Life Shield Plus: everything in Life Shield, plus an extra payout if death happens because of an accident.
- Life Shield ROP: the same protection, but if you outlive the plan, you get back the premiums you paid.
You can add optional riders (small add-on covers) such as critical illness, family protect and premium waiver. Each rider has its own age limit and cost.
Age limits at a glance (Bajaj Life eTouch II)
| Detail | Limit |
|---|---|
| Minimum entry age | 18 years |
| Maximum entry age | 65 years |
| Longest cover age | Up to 99 years |
| Other cover option | Policy ends no later than age 85 |
| Accident benefit (Life Shield Plus) | Up to age 85 |
| Age counted as | Age on last birthday |
Other plan types
| Plan Type | What to Expect |
|---|---|
| Savings plans | Entry ages vary by plan (verify per plan) |
| ULIPs | Entry and maturity ages differ by plan, with a minimum lock-in (verify) |
| Retirement plans | Built mainly for people in their 30s to 60s |
| Child plans | The parent is insured; the child is usually the beneficiary (verify) |
What is usually not covered
- Suicide within the first year (rules differ by plan)
- Death after hiding or misstating health facts on the form
- Death while breaking the law
- Rider-specific exclusions, such as some pre-existing illnesses
Bajaj Life Insurance Started In Which Year?
Short answer: 2001. The company was incorporated on 12 March 2001 as a partnership between Bajaj Finserv and the German insurer Allianz. That is why most people still say “Bajaj Allianz”.
Here is a quick timeline, so you do not have to hunt around:
| Year | What Happened |
|---|---|
| 2001 | Company set up as a joint venture with Allianz |
| March 2025 | Bajaj Group announced plans to buy Allianz’s 26% stake |
| 7 October 2025 | Company renamed Bajaj Life Insurance Limited |
| Early 2026 | Allianz sold a 23% stake; the rest was handled through buybacks |
Why Did Allianz Leave, and Does It Affect You?
Allianz held a 26% share in the joint venture. In March 2025, the Bajaj Group announced it would buy that share (reported deal value: roughly ₹24,000 crore for both insurers). What changes for you?
- Your policy stays valid. A name change does not cancel contracts.
- Your premium and claim rights stay the same. Nothing moves unless your papers say so.
- Your fund value stays put. ULIP and savings money remains with the same company.
Bajaj Allianz Life Insurance Is Safe Or Not?
This is the question that wakes people up at 2 a.m. So let us answer it with numbers, not feelings.
Bajaj Allianz Life Insurance Is Safe Or Not depends on three things: the money cushion, the rule-keeper and the track record.
1. The money cushion (solvency)
Every insurer must keep a safety cushion to pay future claims. The rule is 150%. Bajaj Life Insurance reported 266% as on 31 March 2026. Think of it like needing one bucket of water for safety and keeping almost two buckets ready.
2. The rule-keeper (IRDAI)
Insurance in India is watched by IRDAI, the official insurance regulator. The company is licensed and must follow its rules, publish its numbers and answer complaints.
3. The track record
The company has been running since 2001. Over 25 years, it has settled lakhs of claims. Its claim record for FY 2025-26 is 99.33% for individual death claims.
Is Bajaj Life Insurance Good?
Here is where we take off the marketing hat. Is Bajaj Life Insurance Good? For many buyers, Bajaj Life Insurance works well. For some, not quite. Let us look at both sides.
What works well
- High claim record: 99.33% is among the strongest in the industry.
- Strong money cushion: 266% solvency against a 150% rule.
- Many plan choices: term, savings, ULIP, retirement and child plans under one roof.
- Digital tools: you can pay, download receipts and track status online.
What to watch
- ULIPs carry market risk. Your returns can go up or down.
- Savings plans can lock your money. Leaving early may cut your payout.
- A great claim ratio is not a promise. Wrong or hidden details on your form can still lead to rejection.
Bajaj Life Insurance Claim Settlement Ratio: What It Means
The Bajaj Life Insurance Claim Settlement Ratio is simple. If 100 families ask for money and the insurer pays 99, the ratio is 99%. Higher is better. When families research Bajaj Life Insurance, this is the first number they check.
| Financial Year | Individual Death Claim Settlement Ratio |
|---|---|
| FY 2023-24 | 99.26% |
| FY 2024-25 | 99.32% |
| FY 2025-26 | 99.33% |
How to keep your claim safe
- Answer every question on the form honestly, even the awkward ones.
- Mention smoking, drinking and health history.
- Tell your family about the policy and where the papers are.
- Keep your nominee details current.
- Pay premiums on time so the policy stays active.
Bajaj Life Insurance Customer Login: Step by Step
Bajaj Life Insurance Login saves you from queues and phone calls. The official portal is called Life Assist. Here is how the Bajaj Life Insurance Customer Login works.
- Open the official Bajaj Life Insurance website.
- Find the Login option under the Customer section.
- Enter your registered details, such as policy number or registered mobile number.
- Enter the one-time password sent to your phone, if asked.
- Open your dashboard to see policy details, due dates and receipts.
If you are new, you need to register first. Keep your policy number and registered mobile number ready.
What you can do after login
- See your policy status and due dates
- Pay premiums
- Download premium receipts and tax certificates
- Check fund values (for ULIPs)
- Raise service requests and track them
Login not working?
- Check the policy number for typos or extra spaces.
- Use the mobile number registered with the company.
- Try “Forgot password”, or switch browsers.
- Still stuck? Call customer care or use WhatsApp.
Bajaj Life Insurance Premium Payment: All the Ways
Missing a premium can freeze your cover. So let us make Bajaj Life Insurance Premium Payment painless. There are two easy routes.
Two easy routes
- Quick Pay (no login): use your policy number, mobile number and email.
- After login: open your policy in the portal or app and choose pay.
Payment methods you can use
- Net banking
- Debit card
- Credit card (some cards allow EMI)
- Auto-debit (set once, relax forever)
- Visit a branch for offline help
How to Bajaj Life Insurance Pay Premium online in 6 steps
- Open the official website or app.
- Pick Pay Premium or Quick Pay.
- Enter your policy number and mobile number.
- Check the amount due.
- Choose your payment method.
- Finish payment and download the receipt.
How To Check Bajaj Life Insurance Policy Status
Want to know if your plan is active, lapsed or paid up? Here is How To Check Bajaj Life Insurance Policy Status in under five minutes.
| Method | How It Works |
|---|---|
| Customer portal (Life Assist) | Log in and open “My Policies” |
| Mobile app | Sign in and view your dashboard |
| Send “Hi” from your registered mobile number to 8806727272 | |
| Toll-free call | Call 1800-209-7272 and share your policy number |
| Branch visit | Carry your ID and policy papers |
Bajaj Life Insurance Customer Care Number and Other Ways to Get Help
Need a human at Bajaj Life Insurance? Here is how to reach one.
| Service | Contact (verify on the official site before use) |
|---|---|
| Bajaj Life Insurance Customer Care Number (policy service) | 1800-209-7272 (reported as 24×7) |
| Online purchase and renewal queries | 1800-209-4040 |
| WhatsApp support | 8806727272 |
| Branch visit | Use the branch locator on the official website |
How To Cancel Bajaj Life Insurance Policy
Life changes. Sometimes a plan no longer fits. Here is How To Cancel Bajaj Life Insurance Policy without losing your cool (or too much money).
Option 1: Cancel during the free-look period
When you buy a policy, you get a short “second thoughts” window, called the free-look period. It is usually 30 days from the day you receive your policy papers. If you cancel in this window, you get your premium back, minus small deductions like medical test costs, stamp duty and the cost of cover for the days you were insured.
Option 2: Surrender after the free-look period
If the window has closed, you can surrender (end) the policy. You will usually receive a “surrender value”, which can be lower than what you paid. Many plans pay little or nothing in early years.
Steps to cancel or surrender
- Read your policy papers for the free-look or surrender rules.
- Write a request letter or use the online service request option.
- Attach ID proof, your original policy document (if you have it) and a cancelled cheque for refund.
- Submit it at a branch or through the official portal.
- Note your request number and follow up.
- Check that the money reaches your bank account.
Which Bajaj Life Insurance Policy Fits You?
Picking a plan at Bajaj Life Insurance is like picking shoes. The best pair is the one that fits your feet, not your neighbour’s.
| Your Situation | Plan Type to Look At | Why |
|---|---|---|
| Young, family depends on you | Term plan | Big cover at a low cost |
| Want to save for a goal | Savings plan | Fixed target, steady growth |
| Comfortable with market ups and downs | ULIP | Cover plus investing |
| Nearing retirement | Retirement plan | Regular income later |
Conclusion
Bajaj Life Insurance, established in 2001 and renamed on 7 October 2025, offers various life insurance plans. Is Bajaj Life Insurance Good? It can be a suitable option depending on your financial needs and chosen policy. Check its claim settlement and solvency ratios before buying. Bajaj Allianz Life Insurance Is Safe Or Not? Review official disclosures and policy terms to make an informed decision. You can use Bajaj Life Insurance Login to manage your policy, check its status and complete Bajaj Life Insurance Pay Premium online.
FAQs About Bajaj Life Insurance
1. Is Bajaj Life Insurance the same as Bajaj Allianz Life Insurance?
Yes, it was renamed on 7 October 2025. Existing policies continue under the new name.
2. What is the Bajaj Life Insurance claim settlement ratio for 2026?
The reported individual death claim settlement ratio is 99.33% for FY 2025–26. Verify it in official disclosures.
3. How do I use Bajaj Life Insurance Customer Login if I forgot my password?
Select Forgot Password on the official login page and follow the verification steps.
4. Can I do Bajaj Life Insurance Premium Payment without logging in?
Yes, use the official Quick Pay option with your policy details.
5. What is the Bajaj Life Insurance customer care number?
The reported toll-free number is 1800-209-7272. Confirm current contact details on the official website.
6. How To Cancel Bajaj Life Insurance Policy, and what money comes back?
You can request cancellation during the free-look period or surrender later. Refunds and surrender values depend on policy terms.
7. How To Check Bajaj Life Insurance Policy Status quickly?
Log in to the customer portal or contact customer care with your policy number.
