Bajaj Life Insurance Limited

What Bajaj Life Insurance Limited does

Bajaj Life Insurance Limited is one of India's leading private-sector life insurers, headquartered in Pune, Maharashtra, and operating since 2001 (initially as Bajaj Allianz Life Insurance Company Limited). Following Bajaj Group's January 2026 acquisition of Allianz SE's 23% stake for ₹21,390 crore — the largest insurance-sector M&A in India — the company rebranded to Bajaj Life Insurance Limited and is now 97% owned by Bajaj Group (with Bajaj Finserv holding 75.01%). It offers a comprehensive product portfolio spanning term insurance (Smart Secure ROP, eTouch II, Superwoman Term, iSecure II, Diabetic Term Plan II), unit-linked insurance plans (Goal Assure IV, Smart Wealth Goal VI, Supreme, Magnum Fortune Plus III), savings and endowment plans, child plans, retirement and pension plans, group insurance, and riders, supported by an index/thematic fund menu (BSE 500 Quality 50, Nifty 500 Low Volatility 50, India Consumption, Opportunities).

The company runs a hybrid distribution model combining a 164,861-strong insurance consultant force, 597 branches pan-India, corporate agents and institutional intermediaries, a strategic Mirae Asset Sharekhan wealth-channel partnership, and dedicated NRI distribution across 10+ countries including UAE, US, UK, Saudi Arabia, Qatar, Kuwait, Australia, Canada, and Singapore. Its digital infrastructure comprises the Life Assist customer portal, iOS/Android mobile app, Boing self-service chatbot, DigiLocker and Account Aggregator integrations, digital onboarding with no-medical-test underwriting, and a suite of financial calculators — all contributing to a reported 99.33% individual death claim settlement ratio for FY 2025-26.

Bajaj Life's revenue model is built on recurring premium income across all product lines, with participating policy bonuses (₹1,939 crore declared for FY26, 25 consecutive years), ULIP fund management and premium allocation charges, group insurance premiums, and rider premiums. As of 31 March 2026 the company manages ₹1.34 lakh crore in AUM, covers 3.47 crore lives, and operates with a 266% solvency ratio (vs. IRDAI's 150% mandate) and CARE AAA rating. Strategic priorities for FY26 include a new Pension Fund Management subsidiary, an IFSC Insurance Office at GIFT City Gandhinagar, and an IIT Bombay-linked AI/cybersecurity/quantum research program via the Bajaj Finserv ecosystem.

Name

Bajaj Life Insurance Limited

Legal name

Bajaj Life Insurance Limited

Website

https://bajajlifeinsurance.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Bajaj Life Insurance Limited is a Pune-headquartered Indian life insurer offering term, ULIP, savings, retirement, group, and NRI plans through 164,861+ agents, 597 branches, and digital channels, serving 3.47 crore lives with ₹1.34 lakh crore AUM.

Ownership category

akta.pro rank

Product category

Life Insurance

NAICS

Direct Life Insurance Carriers (524113)

SIC

Life Insurance (6311)

akta.pro primary industry

Level Term Life Insurance (FSAIAAAA)

akta.pro secondary industries

Universal Life (UL) Insurance (FSAIABAB), Participating (Dividend) Whole Life Insurance (FSAIABAI), Group Term Life Insurance (FSAIAAAJ), Whole Life / UL Policy Riders & Add-ons (e.g., Waiver of Premium, Accidental Death, Child Term, LTC/Chronic Illness) (FSAIABAK)

Keywords

• Life insurance policies
• Term insurance plans
• Unit-linked insurance plans
• Retirement pension plans
• Group insurance coverage

Headquarters

HQ city

Pune

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Term Insurance Premiums: Recurring premium payments from term insurance policies providing life cover. Premiums are influenced by age, health, policy term, and coverage amount. Zero GST on individual life insurance policies effective September 22, 2025.
2. ULIP Premiums and Fund Management: Unit-linked insurance plans with premium allocations split between life cover and investment in equity, debt, or balanced funds. Revenue from premium allocation charges, fund management charges, and mortality charges. Returns are market-linked.
3. Participating Insurance Bonuses: Participating life insurance plans generate bonuses from surplus in participating fund. Record bonus of ₹1,939 crore declared for FY26, distributed to over 11.89 lakh policyholders at maturity, exit, or policy anniversaries.
4. Savings and Endowment Plans: Traditional savings and endowment plans with guaranteed benefits, maturity benefits, and life cover. Revenue through regular premium payments with fixed or guaranteed return profiles.
5. Retirement/Pension Plans: Annuity and pension plans providing regular income post-retirement. Revenue from single or regular premium payments with various annuity payout options.
6. Group Insurance Premiums: Group insurance products including Group Secure Shield, Group Secure Return, Group Employee Care, and Pradhan Mantri Jeevan Jyoti Bima Yojana for employer-employee coverage.
7. Rider Premiums: Additional coverage riders including accidental death benefit, terminal illness support, accidental total permanent disability, critical illness benefit, and health/wellness benefits (Bajaj Life Care Plus Rider).

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels12 records

Core offering

Bajaj Life Insurance Limited is a leading Indian life insurance provider selling term insurance, ULIPs, savings, endowment, child, retirement/pension, and group insurance products to individuals, families, NRIs, and corporate groups. The company distributes through a 164,861+ agent network, 597 branches, and digital channels, underwriting and managing life cover alongside market-linked investment plans. Following the January 2026 acquisition of Allianz SE's stake, the company is 97% owned by the Bajaj Group and manages over ₹1.34 lakh crore in assets.

Product overview

Bajaj Life Insurance Limited operates as a comprehensive life insurance provider offering a multi-product portfolio organized across seven main categories: Term Insurance (including Smart Secure ROP, eTouch II, Superwoman Term, iSecure II, and Diabetic Term Insurance Plan), Unit-Linked Insurance Plans or ULIPs (such as Goal Assure IV, Smart Wealth Goal VI, Magnum Fortune Plus III, and Supreme with associated index funds like BSE 500 Quality 50 Index Fund and Nifty 500 Low Volatility 50 Index Fund), Savings Plans (including Flexi Income Goal Plus, ACE, Assured Wealth Goal Platinum, Guaranteed Wealth Goal), Child Insurance Plans (Young Achiever Plan), Retirement/Pension Plans (Smart Pension, Guaranteed Pension Goal II, LongLife Goal III, Saral Pension), Group Insurance (Group Secure Shield, Group Secure Return, Group Employee Care), and Riders (Bajaj Life Care Plus Rider, Family Protect Rider, New Critical Illness Benefit Rider). The company also serves NRI customers across 10 countries with dedicated term and investment plans. Digital services include the Life Assist mobile application, DigiLocker integration, and self-service bot. Products benefit from 0% GST on term plans and ULIPs effective September 2025.

Differentiator

Problem solved

Functional benefit

Brands

• Bajaj Life eTouch II: Non-Linked, Non-Participating, Individual Life Insurance Term Plan offering 0% GST and up to 16% discount on first year premium
• Bajaj Life Goal Assure IV
• Bajaj Life Smart Secure ROP
• Bajaj Life iSecure II
• Bajaj Life Supreme
• Bajaj Life Care Plus Rider
• SISO (Systematic Investment Systematic Withdrawal Option)

Products and services

• Bajaj Life Smart Secure ROP Return-of-premium term insurance plan combining high life cover with market-linked returns on premium, including accidental death benefit, terminal illness support, and accidental total permanent disability coverage.
• Bajaj Life eTouch II Non-linked, non-participating individual life insurance term plan offering up to 16% discount on first-year premium with free health benefits up to ₹31,000 per annum, lifelong income for parents option, and tax benefits up to ₹46,800.
• Bajaj Life Superwoman Term Plan Term insurance plan exclusively for women offering 25% lower premium rates than standard, with critical illness and family protect rider inclusions.
• Bajaj Life iSecure II Non-linked non-participating term life insurance plan with flexible underwriting and customizable payout options designed for self-employed professionals and gig workers with unconventional income.
• Bajaj Life Diabetic Term Insurance Plan Term insurance plan for Type 2 diabetics (HbA1c up to 8%) and pre-diabetics offering life cover with up to 10% discount and free health management services worth ₹20,000 per year.
• Bajaj Life Goal Assure IV Unit-linked non-participating individual life savings insurance plan with market-linked returns, zero premium allocation charges, loyalty additions, and return of mortality charges at maturity.
• Bajaj Life Smart Wealth Goal VI Unit-linked non-participating individual life savings insurance plan with systematic partial withdrawal options and fund switching flexibility.
• Bajaj Life Magnum Fortune Plus III Unit-linked non-participating individual life savings insurance plan with fund booster and loyalty additions targeting long-term wealth creation.
• Bajaj Life Supreme - Gold Unit-linked non-participating individual life savings insurance plan offering return of mortality charge, loyalty additions, systematic partial withdrawal, and free fund switching.
• Bajaj Life Flexi Income Goal Plus - Enhanced Benefit Savings plan offering enhanced benefits with life cover and flexible income options for long-term financial planning.
• Bajaj Life ACE Savings plan with guaranteed benefits and life cover for long-term financial planning.
• Bajaj Life Assured Wealth Goal Platinum Savings plan combining guaranteed returns with life insurance protection.
• Bajaj Life Guaranteed Wealth Goal Savings plan with guaranteed benefits for wealth creation and financial security.
• Bajaj Life Young Achiever Plan Child insurance plan combining long-term savings with protection, providing milestone-based payouts aligned to child's age with premium waiver benefits.
• Bajaj Life Smart Pension Unit-linked non-participating individual pension plan offering systematic partial withdrawal options for retirement income.
• Bajaj Life Guaranteed Pension Goal II Pension plan offering guaranteed benefits for retirement with multiple annuity options.
• Bajaj Life LongLife Goal III Unit-linked non-participating whole life insurance plan designed for retirement planning with extended coverage.
• Bajaj Life Saral Pension Simple pension plan offering guaranteed income during retirement years.
• Bajaj Life Group Secure Shield Group term insurance plan providing financial protection to employees of corporate clients.
• Bajaj Life Group Secure Return Group insurance plan with return of premium benefits for employees.
• Bajaj Life Group Employee Care Group insurance plan offering comprehensive employee benefits including life cover.
• NRI Term Insurance Plans Term insurance plans designed for Non-Resident Indians covering UAE, USA, UK, Saudi Arabia, Qatar, Kuwait, Australia, Oman, Canada, and Singapore markets with coverage up to ₹25 crore.
• NRI Investment Plans Investment and ULIP plans for Non-Resident Indians seeking wealth creation and life protection in India.
• Bajaj Life India Consumption Fund Fund under ULIPs targeting India's consumption-driven economy growth, investing across 400+ stocks in retail, consumer goods, automotive, healthcare, telecom, hospitality and lifestyle sectors.
• Bajaj Life Nifty 500 Low Volatility 50 Index Fund Index fund tracking Nifty 500 Low Volatility 50 Index with 79% large-cap bias for stable long-term capital appreciation.
• Bajaj Life BSE 500 Quality 50 Index Fund Index fund tracking BSE 500 Quality 50 Index for ULIP investors, selecting 50 Indian companies based on profitability, balance-sheet strength, and earnings discipline.
• Bajaj Life Opportunities Fund Fund benchmarked to Nifty Large Midcap 250 Index employing Four-Engine Investment Strategy with minimum 60% equity exposure targeting 40-50 high-conviction stocks.
• Bajaj Life Care Plus Rider Rider combining health, wellness, and fitness benefits with life insurance policies, offering living benefits up to ₹2 lakh per annum with access to over 1.3 lakh doctors.
• Life Assist Mobile Application Mobile application for iOS and Android enabling comprehensive policy management, premium payments, fund switching, fund statements, and personalized assistance for policyholders.

Quantifiable outcome

• 99.33% individual death claim settlement ratio for FY 2025-26
• +5 more outcomes

Named customers5 records

Segments8 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature6 records

Partnerships

Three partnerships are on record, tiered core.

• IIT BombaycoreStrategic or Co-development Partner · 28 May 2026Part of Bajaj Finserv's 'Finserv Intelligence' initiative, Bajaj Life Insurance will benefit from an MoU and Master Collaboration Agreement signed with IIT Bombay to establish a joint research centre spanning AI, cybersecurity, quantum technologies, and reimagining physical retail experience. The program involves ₹1,500-2,000 crore investment over five years in AI innovation startups.
• Mirae Asset SharekhancoreChannel Partner/ Reseller/ Distributor · 4 February 2026Strategic partnership announced on February 4, 2026, to offer life insurance solutions to Mirae Asset Sharekhan's wealth management customers. Under the agreement, Mirae Asset Sharekhan's customers gain access to Bajaj Life products including term insurance plans, ULIPs, and retirement offerings. The partnership leverages Mirae Asset Sharekhan's distribution reach across major urban centres and tier-2/3 markets, meeting growing investor demand for balancing long-term wealth creation with financial protection.
• Inka InsurancecoreStrategic or Co-development Partner · 18 November 2025Partnership to launch Inkapreneur, a life insurance product specifically designed for Indian founders and entrepreneurs. The product addresses a gap in traditional financial underwriting, which typically fails to recognize entrepreneurs' unconventional income patterns. By simplifying documentation requirements, the offering aims to provide quicker and fairer access to life insurance protection for Indian entrepreneurs.

Scale indicators13 records

Recent moves9 records

Expansion highlights6 records

Market position

Competitive moat6 records

Key highlights7 records

Customer concentration

• Xx.com/bajajlife_in
• YouTubeyoutube.com/@bajaj_life
• Facebookfacebook.com/bajajlife
• LinkedInlinkedin.com/company/bajaj-life
• Instagraminstagram.com/bajajlife

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds1 record

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments11 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bajaj Life Insurance Limited