Bajaj Allianz Life's Term and Par Plans Recognized as Products of the Year
16.08.2024 - 13:02:31
Business Wire IndiaBajaj Allianz Life Insurance, one of India’s leading private life insurers, won big with three prestigious recognitions at the 16th Edition of Product of the Year (POY). Three products from the Company's diverse product portfolio have been recognized for their excellence and consumer appeal. The recognized products are:
This unique product allows customers to start receiving income as early as the second month after paying their premium. It also offers flexibility to choose the level of income and maturity benefits according to individual financial goals. Moreover, women policyholders enjoy an additional 2% income.
This product is one of India’s most comprehensive term plans, offering complimentary Health Management Services for everyone, with a special focus on women’s health care. These services provide quick access to medical consultations, helping customers achieve their health goals within a single product. With three variants to choose from, this value-packed plan comes at an affordable premium and includes a Return of Premium option. It also offers an early exit option at age 60.
India's first term plan exclusively for diabetics offers comprehensive coverage tailored for individuals with Type 2 diabetes (individuals whose HbA1c is up to 8 per cent) and pre-diabetics. It also includes Health Management Services, offering access to annual HbA1c tests, medical consultations, health coaching, and more.
Commenting on the recognition, Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance, said, "We are constantly innovating and delivering towards ensuring consumers have the most value-packed life insurance products to meet their long-term needs. We have been effective at introducing products with unique features that make them one-of-their-kind, and successfully set a new trend within the industry. Customers of financial products have evolved, and we are in a journey to meet their needs in a manner that is most suitable to them. These customer-voted recognitions cement our belief in our approach, and inspire us to continue to deliver in every aspect towards becoming India’s preferred Life Goals enablers.”
Product of the Year is globally recognized as the world's largest consumer-voted recognition for product innovation. Operating in over 40 countries, it celebrates excellence in consumer products and services. Bajaj Allianz Life Insurance's triple win this year reaffirms its position as one of the leading life insurance players in the Indian life insurance market and highlights the Company's success in meeting and exceeding customer needs and expectations.
About Bajaj Allianz Life Insurance
Bajaj Allianz Life Insurance is one of India’s leading and fastest growing private life insurers. The company is a partnership between two powerful and successful entities in their own right – Bajaj Finserv Limited, one of India’s most diversified non-banking financial institutions and Allianz SE, one of the world’s leading asset manager and insurer. The Company commenced its journey in 2001, and today delivers its promise of Life. Goals. DONE through innovative value-packed insurance products that are backed by a robust tech and digital ecosystem. Bajaj Allianz Life Insurance continues its journey of transformation through its products and tech-enabled state-of-the-art services to enhance customer delight.
Bajaj Allianz Life now serves over 4.16 crore (as on 30th June 2024) individual and group customers. The Company has a large distribution network of 544 branches (as on 30th June 2024) over 1,53,990 agents (as on 30th June 2024), a comprehensive set of 35 trusted bank partners across the geography and the customer segments, and its proprietary sales channels (online and offline). Bajaj Allianz Life Insurance manages Assets Under Management to the tune of over Rs. 1,16,966 crores (as on 30th June 2024) with an Individual Claim Settlement Ratio of 99.23 % and a Solvency Ratio of 432% (as on 31st March 2024).
- Bajaj Allianz Life ACE has been voted Product of the Year in the Life Insurance - Savings Plan category.
This unique product allows customers to start receiving income as early as the second month after paying their premium. It also offers flexibility to choose the level of income and maturity benefits according to individual financial goals. Moreover, women policyholders enjoy an additional 2% income.
- Bajaj Allianz Life eTouch has been voted Product of the Year in the Life Insurance - Term Plan category.
This product is one of India’s most comprehensive term plans, offering complimentary Health Management Services for everyone, with a special focus on women’s health care. These services provide quick access to medical consultations, helping customers achieve their health goals within a single product. With three variants to choose from, this value-packed plan comes at an affordable premium and includes a Return of Premium option. It also offers an early exit option at age 60.
- Bajaj Allianz Life Diabetic Term Plan II Sub 8 HbA1c, has been voted Product of the Year Life Insurance - Term Plan for Diabetics category.
India's first term plan exclusively for diabetics offers comprehensive coverage tailored for individuals with Type 2 diabetes (individuals whose HbA1c is up to 8 per cent) and pre-diabetics. It also includes Health Management Services, offering access to annual HbA1c tests, medical consultations, health coaching, and more.
Commenting on the recognition, Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance, said, "We are constantly innovating and delivering towards ensuring consumers have the most value-packed life insurance products to meet their long-term needs. We have been effective at introducing products with unique features that make them one-of-their-kind, and successfully set a new trend within the industry. Customers of financial products have evolved, and we are in a journey to meet their needs in a manner that is most suitable to them. These customer-voted recognitions cement our belief in our approach, and inspire us to continue to deliver in every aspect towards becoming India’s preferred Life Goals enablers.”
Product of the Year is globally recognized as the world's largest consumer-voted recognition for product innovation. Operating in over 40 countries, it celebrates excellence in consumer products and services. Bajaj Allianz Life Insurance's triple win this year reaffirms its position as one of the leading life insurance players in the Indian life insurance market and highlights the Company's success in meeting and exceeding customer needs and expectations.
About Bajaj Allianz Life Insurance
Bajaj Allianz Life Insurance is one of India’s leading and fastest growing private life insurers. The company is a partnership between two powerful and successful entities in their own right – Bajaj Finserv Limited, one of India’s most diversified non-banking financial institutions and Allianz SE, one of the world’s leading asset manager and insurer. The Company commenced its journey in 2001, and today delivers its promise of Life. Goals. DONE through innovative value-packed insurance products that are backed by a robust tech and digital ecosystem. Bajaj Allianz Life Insurance continues its journey of transformation through its products and tech-enabled state-of-the-art services to enhance customer delight.
Bajaj Allianz Life now serves over 4.16 crore (as on 30th June 2024) individual and group customers. The Company has a large distribution network of 544 branches (as on 30th June 2024) over 1,53,990 agents (as on 30th June 2024), a comprehensive set of 35 trusted bank partners across the geography and the customer segments, and its proprietary sales channels (online and offline). Bajaj Allianz Life Insurance manages Assets Under Management to the tune of over Rs. 1,16,966 crores (as on 30th June 2024) with an Individual Claim Settlement Ratio of 99.23 % and a Solvency Ratio of 432% (as on 31st March 2024).
