bajaj allianz life insurance premium payment
By Okbima 10 Apr 2024 14

Bajaj Allianz Life Insurance Premium Payment: Online Payment Options

 

Bajaj Allianz Life Insurance Premium Payment: Bajaj Allianz is a leading life insurance company that was founded in 2001 in India with a claim settlement ratio of 90%. Bajaj Allianz offers up to Rs. 1 crore of life cover available for as low as Rs. 19/day*. They offer various plans including term insurance, ULIPs, and retirement plans. You can manage your policy and pay premiums online on a discounted rate.

 

How To Pay Bajaj Allianz Life Insurance Premium Payment Online?

You can pay Bajaj Allianz Life Insurance premium payment online through auto-pay, debit card, credit card, e-wallets, Bajaj Allianz Life assist mobile app, UPI, and net banking.

Auto-Pay

The auto-pay option reduces customer stress about due dates and reminders from the insurer. By setting up auto-pay through their bank, policyholders can ensure timely payment and renewal of their policy premiums without any hassle. 

To enable this feature, customers simply need to visit the insurer's website, click on the register online mandate tab, select the bank, and enter their account details for verification. Once this process is complete, the auto-pay option will be successfully activated.

Debit Card

Policyholders have the convenience of paying their Bajaj Allianz life insurance premiums online with a debit card. They are required to fill in necessary details like policy number, date of birth, email address, and mobile number for verification. After completing this step, customers are redirected to the checkout process where they must provide their debit card information, including a three-digit CVV number. Once the card details are confirmed, the payment is processed, and the premium is successfully paid.

E-wallets

Premium payments for Bajaj Allianz life insurance can also be made through e-wallets like Airtel Money, Jio Money, Mobikwik, ItzCash, MoneyOnMobile, Oxigen, Paycash, Idea, Vodafone M Pesa, and more. To make a payment, the policyholder can go to the e-wallet tab on the insurer's website and click 'pay now'. The app will then ask for mandatory details such as policy number, date of birth of the life assured, email address, and mobile number for verification. 

After entering the required information, the customer can choose the e-wallet from the list, fill in the transaction details, and complete the payment. Customers can select Bajaj Allianz Life Insurance under the Insurance section on the third-party e-wallet mobile app, provide policy details, and proceed to pay or renew the premium.

Bajaj Allianz Life Assist Mobile App

To pay the premium, policyholders can use the insurer's official mobile app. They must first download and install the app on their mobile phone. The pay premium feature can be found in the main menu. Customers need to fill required information, including their mobile number, email address, policy number, and date of birth of the life assured for authentication. Once verified, customers can proceed to make the payment to renew their premium.

Credit Card

Customers with Visa, MasterCard, Maestro, American Express, or Diners Club credit cards can pay their Bajaj Allianz policy renewal premiums through the credit card payment option. To make a payment, customers need to either login or register on the Bajaj Allianz Life website. Alternatively, customers with any of the mentioned credit card providers can also opt for auto-debit of the premium amount on the due date.

To set up the auto-pay option, customers can navigate to the 'Renewal Payment Options' section on the Bajaj Allianz website, then choose 'Online Payment' > 'Credit Card' > 'Set Credit Card Standing Instructions'. They will then be redirected to a new page where they are required to input their policy number, policyholder's date of birth, policy sum assured, email ID, and mobile number. To complete the process, customers must click on 'Pay Premium'.

Unified Payments Interface(UPI)

Customers can make premium payments for their life insurance policy using UPI, with an app connected to their bank account. To do so, policyholders must download and install the UPI app, and then link their bank account for payments. After sending a payment request to the registered mobile number, after approval, the amount can be paid for buy or renewal of the premium.

Net Banking

Net banking is the most popular way to pay Bajaj Allianz life insurance premiums online. To use this method, the policyholder must add the insurer as a beneficiary and then make the payment. Bajaj Allianz Life Insurance online payment receipt will be generated and sent to the policyholder for verification. Net banking also allows for an auto-pay option so that payments can be automatically cleared based on pre-set instructions.

 

Secure Your Family Future: Compare Life Insurance Now!

 

Difference Between Online And Offline Payment Process

Here is the difference between online and offline payment processes for Bajaj Allianz life insurance premiums.

 

Feature

Online Payment

Offline Payment

Convenience

Anytime, Anywhere

Branch Visit Required

Speed

Instant Processing

May take a few days to reflect

Paperless

Yes

No (Cheque/DD required)

Payment Options

Debit Card, Credit Card, Net Banking, Wallets

Cash, Cheque, Demand Draft

Personal Touch

No

Yes

Suitability

For Tech Users

For Non-Tech Users

 

Information Required For Online Payment

Some information is required for online payment if you want to pay Bajaj Allianz premium payment online and that is mentioned below.

  • Customers are required to provide the required information including their mobile number, email address, and policy number.

  • The debit card must be valid and approved by the bank.

  • Payments made after the cut-off time will be reflected in the account on the next working day, with funds being deducted immediately.

  • To enable the auto-pay feature, customers must submit their identity proof, bank statement, and a copy of their debit/credit card.

  • Payment receipts are available in the customer's profile and can be accessed at any time.

  • Only active policies will be displayed on the portal.

 

Peace of Mind for Yourself, Protection for Them: Get a Free Quote!

 

Why Use Online Payment Option To Pay Bajaj Allianz Premium Payment?

There are many reasons to consider using the online payment option for your Bajaj Allianz life insurance premium payment.

  • Convenience: You can pay your premiums anytime and from anywhere, whether you're at home, at work, or even traveling. No need to visit a branch during their working hours or wait in queues.

  • Speed: Payments made online are processed instantly. This ensures your policy stays active without any lapse due to delayed payments.

  • Security: Online payments can be secure if done through Bajaj Allianz's official website or app. They use high security to protect your financial data.

  • Multiple Payment Options: You have the flexibility to choose your preferred payment method from debit cards, credit cards, net banking, digital wallets, or UPI.

  • Paperless: Online payments reduce the need for paper forms or checks. This reduces paperwork hassle.

  • Discounts: Bajaj Allianz may offer a discount (up to 1%*) for online payments compared to offline methods.

 

Read More:

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Conclusion

In conclusion, Bajaj Allianz Life Insurance premium payment can be paid online without any hassle. Customers can choose to pay their premiums online through various secure and user-friendly methods, including net banking, credit/debit card, and UPI. This allows policyholders to easily make payments from the comfort of their own homes, saving time and effort. With the availability of multiple online payment options, you can pay Bajaj Allianz premium payment online easily. For any assistance, you can contact “Our Experts”!

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