Bharti AXA life insurance and Bajaj Allianz Life Insurance are two of the largest insurance providers in India. But how do these two companies compare? Some key factors make us pick one over the other. The key factors include price, coverage, customer service, and more importantly trustworthiness, etc.
Both these companies are insurance companies and offer a wide range of products to their customers. They have similar offerings, but there are a few key differences that make them worth considering. In this article, we will compare Bharti AXA and Bajaj Allianz Life Insurance to provide an insight into their financial performance, the market share they have in India, and their products available for customers.
Bharti AXA Life Insurance
Bharti AXA Life Insurance Company is a joint venture between Bharti Enterprises and the AXA Group, a multinational investment banking firm and financial expertise headquartered in Paris. Bharti AXA Life Insurance is a leading Indian insurance company and it has been around since 2006. It offers a wide range of insurance solutions to people, businesses, and families in India. The company offers a wide range of products in the life, health, retirement, and savings insurance segments. The company’s key differentiator is its focus on the customer experience from customer service to claims processing.
Bharti AXA Life Insurance Benefits
- Financial Security: Bharti AXA Life Insurance is one of the largest life insurance companies in India. It can provide a secure financial future to your loved ones
- Variety of Plans: You get access to a wide range of insurance products and services that are tailored to your needs.
- Comprehensive Cover: Bharti AXA Life insurance plans are quite cheap and provide comprehensive life cover on the payment of an affordable premium.
- Flexibility: The company offers policies with flexible payment options, including cashless options like online payments and mobile banking
- Trust Endure: There are no hidden fees or charges for the policyholder. The company also provides you with several benefits like tax-free withdrawals, discounts on premium payments, and more.
- Rider Availability: Bharti AXA Life Insurance offers the facility to the policyholder to include special riders that allow additional benefits under specific circumstances.
Bharti AXA Life Insurance Plans List
| Type of Plans |
Bharti AXA Life Insurance Plans |
| Term Plans |
- Bharti AXA Life Flexi Term Plan
- Bharti AXA Life Saral Jeevan Bima Plan
- Bharti AXA Life Premier Protection Plan
- Bharti AXA Life Grameen Jeevan Bima Yojana Plan
- Bharti AXA Life Smart Jeevan Plan
- Bharti AXA Life Income Protection Plan
- Bharati AXA Life POS Saral Jeevan Bima Yojana
- Bharti AXA Life Flexi Term Pro Plan
|
| Savings Plans
|
- Bharti AXA Life Shining Stars Plan
- Bharti AXA Life Elite Advantage Plan
- Bharti AXA Life Super Series Plan
- Bharti AXA Life Guaranteed Income Pro Plan
- Bharti AXA Life Super Endowment Plan
- Bharti AXA Life Monthly Income Plan Plus
- Bharti AXA Life Dhana Varsha Plan
- Bharti AXA Life Samriddhi Plan
- Bharti AXA Life Monthly Advantage Plan
- Bharti AXA Life Secure Income Plan
- Bharti AXA Life Guaranteed Income Plan
- Bharti AXA Life POS Saral Bachat Yojana Plan
- Bharti AXA Life Aajeevan Sampatti Plus Plan
- Bharti AXA Life Flexi Save Plan
- Bharti AXA Life Serv Suraksha Plan
- Bharti AXA Life Unnati Plan
|
| Child Plans |
- Bharti AXA Life Child Advantage Plan
|
| ULIP Plans
|
- Bharti AXA Life Wealth Pro Plan
- Bharti AXA Life eFuture Invest Plan
- Bharti AXA Life Grow Wealth Plan
- Bharti AXA Life Future Invest Plan
|
| Retirement Plans |
- Bharti AXA Life Aajeevan Sampatti+
- Bharti AXA Life Grow Wealth
- Bharti AXA Life Super Endowment Plan
- Bharti AXA Life Dhan Varsha
- Bharti AXA Life Saral Pension Plan
|
| Group Plans |
- Bharti AXA Life Group Credit Protection Pro
- Bharti AXA Life Group Term Micro Insurance Plan
- Bharti AXA Life Group Term Insurance Plan
- Bharti AXA Life Group Accidental Death Benefit Rider
- Bharti AXA Life Group Loan Protect
- Bharti AXA Life Group Suraksha
- Bharti AXA Life Jan Suraksha
- Bharti AXA Life Loan Secure
- Bharti AXA Life Pradhan Mantri Jeevan Jyoti Bima Yojana
- Bharti AXA Life Smart Bima
- Bharti AXA Life Unit Linked Employee Benefits Plan
|
Bajaj Allianz Life Insurance
Bajaj Allianz Life Insurance is a leading Indian life insurance company with a wide range of products and services. It has been in the market since 2001 and has been providing insurance solutions to people with diverse lifestyles.Bajaj Allianz Life Insurance Company is a joint venture between Bajaj Finserv Limited owned by Bajaj Group of India and Allianz SE, a European Financial Services company. They offer policies for individuals, small businesses, and large enterprises as well as for different age groups. They also offer customized plans that can be designed according to the specific needs of their customers.
Bajaj Allianz Life Insurance Benefits
- Tax Benefits: The life insurance plan offers tax benefits under Sections 80C and Section 10(10D) of the Income Tax Act, 1961.
- Wide Range of Plans: Bajaj Allianz Life Insurance Company offers a range of term plans that are suitable for everyone’s financial needs and requirements.
- Flexibility: Customers may choose policy terms ranging from 10 years to 30 years and choose payment options as per their requirements.
- Excellent Claim Support: Bajaj Allianz Life Insurance Company provides a smooth and hassle-free claim settlement process.
- 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.
Bajaj Allianz Life Insurance Plans List
| 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
|
Comparison Table of Bharti AXA vs Bajaj Allianz Life Insurance
The table below compares the two insurance providers Bajaj Allianz and Bharti AXA life insurance based on various factors. Here are some of the key parameters based on which they differ from each other:
| Parameter |
Bharti AXA Life Insurance |
Bajaj Allianz Life Insurance |
| Claim settlement ratio |
99.05% |
99.02% |
| Solvency Ratio |
1.78 |
1.76 |
| Inception |
2006 |
2001 |
| Number of Branches |
268 |
509+ |
| Availability |
Online/Offline |
Online/Offline |
| Life Cover |
Up to 99 Years |
Up to 99 Years |
| Types of Plans |
- Term Plans
- Child Plans
- Savings Plans
- Investment Plans
- Protection Plans
- ULIP Plans
- Retirement Plans
|
- Term Plans
- Child Plans
- Savings Plans
- ULIP Plans
- Retirement Plans
- Group Plans
- Investment Plans
- Healthcare Plans
|
| E-Services |
- Buy Policy
- Renew Policy
- Claim Settlement
- Download Statements
- Track Claims, etc.
|
- Track Application
- Download Statements
- Pay Premiums
- Buy Policy
- Renew Policy
- Claim Settlement
|
| Riders Available |
- Term Rider
- Premium Wavier Rider
- Hospi Cash Benefit Rider
- Accidental Death Benefit Rider
- Group Accidental Death Benefit Rider
|
- Accidental Death Rider
- Accidental Permanent Disability
- Premium Waiver Rider
- Critical Illness Benefit
- Family Income Benefit Rider
|
Conclusion:
When you compare two life insurance companies the question of which life insurance company to choose is a daunting one. It is important to understand the differences between the two before you make a decision. Choosing the best life insurance company can be a challenging task. There are many factors that you need to consider, such as the cost of coverage and financial stability, the type of policy, etc. With so many considerations in mind, it can be difficult to decide which company is the best choice for you.
If you’re looking for a comparison of Bajaj Allianz vs Bharti AXA Life insurance companies you should consider the price, coverage, and whether or not they offer a policy that fits your needs. And also the decision has become much easier with the help of PolicyBachat. Compare life insurance quotes and know all the key features and benefits of Bharti AXA life insurance and Bajaj Allianz life insurance at PolicyBachat to select the right choice.