Bajaj Life Insurance Review

What's the best way to summarize Bajaj life insurance in one sentence? The protection you need for the price you can afford.

By: admin Posted: September 28, 2010

The Good

Large Amount of Policies Available • Policies Offer Less then Competitive Cash Values

The Bad

Not Much Information About Policies • Average Premiums

Overview

Bajaj life insurance is one of the largest life insurance providers in the entire world. Bajaj Allianz Life Insurance has been operating for over one hundred and fifteen years. Bajaj does not focus on the United States. In fact, Bajaj has the majority of their policies outside of the United States. Bajaj maintains over One Trillion dollars in assets and operates in seventy countries.

Policies / Plans

While the plans for Bajaj may not be very lucrative with lower cash accumulations for average premiums, Bajaj offers both individuals and businesses a variety of life insurance plans.
Term Insurance at Bajaj offers protection for a term of ten, twenty, or thirty years. No cash value is accumulated within the policy but most of the time the policy can be renewed.
Whole Life Insurance accumulates a small cash value and lasts until the policyholder dies. There are additional riders then can be purchased if needed as well.
Micro Insurance can be purchased also. Micro Insurance is life insurance in case of specific events. For example, someone who lives in a high-risk area or has a high-risk occupation may want to purchase micro life insurance in case an accident happens specifically to that place/job.

Pricing / Rates

Pricing at Bajaj was average. The quote we received was a $320 monthly premium to be paid for the term policy. The whole life insurance premium was for $339. Both are average or a little more expensive.

Getting A Quote

Upon entering the website there are a few options that can create confusion. You can register on their website, chat to a live agent or receive a quote now. However, finding the quote option was a little difficult and the website itself was cluttered.

Customer Service

Customer Service at Bajaj was less then good. The agent that we spoke to was extremely hard to understand and let to complications on the phone. The problem that was addressed took a lot longer to fix then I would've liked. It was much easier to speak to other life insurance provider's customer service.

Summary

Overview:

Policies / Plans Rating:

Policies / Plans:

While the plans for Bajaj may not be very lucrative with lower cash accumulations for average premiums, Bajaj offers both individuals and businesses a variety of life insurance plans. Term Insurance at Bajaj offers protection for a term of ten, twenty, or thirty years. No cash value is accumulated within the policy but most of the time the policy can be renewed. Whole Life Insurance accumulates a small cash value and lasts until the policyholder dies. There are additional riders then can be purchased if needed as well. Micro Insurance can be purchased also. Micro Insurance is life insurance in case of specific events. For example, someone who lives in a high-risk area or has a high-risk occupation may want to purchase micro life insurance in case an accident happens specifically to that place/job.

Pricing / Rates Rating:

Getting A Quote Rating:

Getting A Quote:

Customer Service Rating:

Overall Rating:

6.50

Bajaj is a decent life insurance provider based on the amount of policies they offer. However, the premiums are average and the customer service is lacking. At best they are a last resort, at least in the United States. Worldwide they remain a larger provider but really have not broken into the U.S. If you are looking for a provider, try looking at All State or Geico before you would even consider Bajaj.