Bajaj Allianz life insurance and Ageas Federal Life Insurance are two insurance companies that have been in the industry for a long time. They are both well-known for their excellent customer service and provide a wide range of insurance products. Life insurance is an important product for every Indian family and it is essential to choose the best company for your needs.
This article will compare the two companies Bajaj Allianz life insurance and Ageas Federal Life Insurance in terms of their customer service, products, and pricing. It will also explain how you can save money on your premiums by choosing one over the other or combining both policies. It will also briefly explore the history of each company and what they offer to customers today.
Bajaj Allianz Life Insurance
The Bajaj Allianz Insurance Company is one of the best insurance companies in India. It offers insurance solutions to its customers. Bajaj Allianz Life Insurance is a joint venture between Bajaj Finance and Allianz SE. It was founded in 2001 by the two partners. Bajaj Allianz life insurance Company limited has launched innovative insurance solutions taking into consideration the time to the time change in customers’ needs and requirements. Bajaj Allianz Life Insurance Company offers a wide range of options for their policyholders, from term life to whole life policies. The company has been in business for over a decade and has seen several changes in the industry during its time.
Features of Bajaj Allianz Life Insurance
- Pay-out on death or maturity
- Customizable sum assured
- Ability to assign nominees
- Customizable tenure
- Online services for policyholders
- Features an investment component
- Flexible premium payment options
Benefits of Bajaj Allianz Life Insurance
- Variety of Plans: Bajaj Allianz life offers a wide range of life insurance plans online. Bajaj Allianz’s life insurance company provides a higher cover amount at lower premium rates.
- Financial Support: Bajaj Allianz’s life insurance policy is designed to provide financial protection for the family of the insured person in case of death.
- Low cost of premium: Bajaj Allianz Life Insurance Company provides life insurance policies at a low-cost premium with high coverage.
- Easy Claim Settlement: Bajaj Allianz Life Insurance Company provides a smooth and hassle-free claim settlement process.
- Riders: The Bajaj Allianz life insurance policy comes with an option of a rider that provides additional coverage in case of permanent disability, accident, or critical illness.
List of Bajaj Allianz Life Insurance Plans
| Type of Plans |
Bajaj Allianz Life Insurance Plans |
| Term Insurance Plans |
- Bajaj Allianz Life Smart Protect Goal
- Bajaj Allianz Life Saral Jeevan Bima
- Bajaj Allianz Life eTouch Online Term
- Bajaj Allianz Life iSecure
|
| Savings Plans |
- Bajaj Allianz Life Flexi Income Goal
- Bajaj Allianz Life Guaranteed Saving Plan
- Bajaj Allianz Life Guaranteed Income Plan
- Bajaj Allianz Life POS Goal Suraksha Plan
- Bajaj Allianz Life Assured Wealth Goal-Second Income Plan
|
| Pension Plans |
- Bajaj Allianz Life Saral Pension Plan
- Bajaj Allianz Life Guaranteed Pension Goal
- Bajaj Allianz Life LongLife Goal
|
| ULIP Plans |
- Bajaj Allianz Life Insurance Smart Wealth Goal
- Bajaj Allianz Life Insurance Future Gain
- Bajaj Allianz Life Insurance Fortune Gain
- Bajaj Allianz Life Insurance Future Wealth Gain
|
| Child Plans |
- Bajaj Allianz Life Young Assure
- Bajaj Allianz Life Long Assure
|
| Investment Plans |
- Bajaj Allianz Life Assured Wealth Goal- Wealth Creation Plan
- Bajaj Allianz Life Invest Assured
- Bajaj Allianz Life Elite Assured
|
| Group Plans |
- Bajaj Allianz Life Pradhan Mantri Jeevan Jyoti Bima Yojana
- Bajaj Allianz Life Group Superannuation Secure
- Bajaj Allianz Life Group Sampoorna Suraksha Kavach
- Bajaj Allianz Life Group Credit Protection Plus
- Bajaj Allianz Life Group Employee Care
- Bajaj Allianz Life Group Term Life
- Bajaj Allianz Life Group Employee Benefit
- Bajaj Allianz Life Group Sampoorna Jeevan Suraksha
|
| Health Care Plans |
- Bajaj Allianz Life Health Care Goal
|
Ageas Federal Life Insurance
Ageas Federal Life Insurance formerly known as IDBI Federal Life Insurance Co Ltd is one of the rapidly growing life insurance organizations in India. The company provides a wide range of retirement, wealth management, and protection solutions to corporate customers and individuals. Ageas Federal Life Insurance Co Ltd is a joint venture of IDBI Bank, India’s premier commercial and premier development bank, Federal Bank, a leading bank of India in the private sector, and Ageas, a multinational insurance company in Europe. Ageas federal life insurance is headquartered in Mumbai, India. The company pride itself on a good envelope of offering its customers wealth management, protection, and retirement solutions.
Features of Ageas Federal Life Insurance
- High Life coverage options
- Customizable tenure
- Pay-out on death or maturity
- Discounts for female lives and non-smokers
- No medical check-up required
- Covers covid-19
- Life coverage till 99 years of age.
- Hassle-free Renewal, Claims Process
Benefits of Ageas Federal Life Insurance
- High Cover at Low Premiums: Ageas Federal life insurance plans offer high insurance coverage at low premiums. Ageas Federal term insurance plans offer life cover at a reasonable cost.
- Flexibility to Choose Policy: The customer has the option to choose from an extended policy term and exciting premium payment terms. The life assured has the flexibility to choose the policy term and premium payment term according to his requirement and budget.
- Accidental Death Benefit: Ageas Federal offers an option to enhance the base coverage of the plan by opting for Accidental Death Benefit cover.
- Return of Premium Benefit: Term insurance plans offered by Ageas Federal Life Insurance Company offers a Return of Premium benefit. In case the life assured survives the entire policy tenure, he/she will receive a maturity benefit, which is the return of total premiums paid till the date of the plan maturity.
- Tax Benefits: Premiums paid towards Ageas Federal term insurance plans are eligible for tax exemptions under Section 80C and 10(10D) of the Income Tax Act, 1961.
List of Ageas Federal Life Insurance Plans
| Type of Plan |
Ageas Federal Life Insurance Plans |
| Online Plans |
- Ageas Life Advantage Plus Plan
- Ageas Heart & Cancer Shield Plan
- Ageas Guaranteed Income Plan
- Ageas Wealth Gain Insurance Plan
- Ageas Wealthsurance Growth Insurance Plan SP
|
| Term Plans |
- Ageas Saral Jeevan Bima
- Ageas MyLife Protection Plan
- Ageas Income Protect Plan
- Ageas Termsurance Life Protection Plan
|
| Child Plans |
- Ageas Young Star Plus Plan
- Ageas Dream Builder Plan
- Ageas Wealthsurance Future Star Insurance Plan
|
| ULIP Plans |
- Ageas Smart Growth Plan
- Ageas Wealth Plus Critical Protection Plan
- Ageas Wealth Gain Insurance Plan
|
| Savings Plans |
- Ageas Guaranteed Savings Plan
- Ageas Guaranteed Income Plan
- Ageas Guaranteed Wealth Plan
- Ageas Secured Income Plan
|
| Retirement Plans |
- Ageas Saral Pension Plan
- Ageas Guaranteed Lifetime Income Plan
|
| Health Plans |
- Ageas Heart & Cancer Shield Plan
|
| Group Plans |
- Ageas Group Term Life Plan
- Ageas Group Loan Suraksha Plan
- Ageas Group Employee Benefit Plan
- Ageas Group Microsurance Plan
- Ageas Group Loan Secure Plan
|
Comparison Table of Bajaj Allianz Life Insurance and Ageas Federal Life Insurance
| Parameter |
Bajaj Allianz Life Insurance |
Ageas Federal Life Insurance |
| Claim Settlement Ratio |
99.02% |
95.07% |
| Solvency Ratio |
6.66 |
3.40 |
| Inception |
2001 |
2008 |
| Number of Branches |
509+ |
3000 |
| Availability |
Online/Offline |
Online/Offline |
| Life Cover |
Up to 99 Years |
Up to 99 Years |
| Types of Plans |
- Term Plans
- Child Plans
- Savings Plans
- ULIP Plans
- Retirement Plans
- Group Plans
- Investment Plans
- Healthcare Plans
|
- Online Plans
- Term Plans
- Child Plans
- ULIP Plans
- Savings Plans
- Retirement Plans
- Health Plans
- Group Plans
|
| E-Services |
- Track Application
- Download Statements
- Pay Premiums
- Buy Policy
- Renew Policy
- Claim Settlement, etc.
|
- Pay Premiums
- Track Application
- Download Receipts
- Buy Policy Online
- Claim Settlement
- Fund Switch
- Download Policy Servicing Forms, etc.
|
| Riders Available |
- Accidental Death Rider
- Accidental Permanent Disability
- Premium Waiver Rider
- Critical Illness Benefit
- Family Income Benefit Rider
|
- Critical Illness Rider
- Accidental Death Rider
- Terminal Illness Cover
|
Conclusion
Life insurance is a product that can protect you and your family from financial loss in the event of an untimely death. It is important to find the best life insurance company for you so that you don't have to worry about anything if something bad happens. If you are looking for Bajaj Allianz and Ageas Federal life insurance policies to get the best life insurance. Bajaj Allianz Life Insurance focuses on providing affordable policies to its customers while Ageas Federal Life Insurance provides more comprehensive coverage options with lower premiums.
Check all the features and benefits of Bajaj Allianz life insurance and Ageas federal life insurance before concluding on the right insurance policy. Configure the premium with the benefits availed on Ageas Federal life vs Bajaj Allianz life insurance through a comparison of life insurance quotes for the best life insurance plans in India from top insurers online at PolicyBachat.