Bajaj Allianz Life Insurance

What Bajaj Allianz Life Insurance does

Bajaj Life Insurance Limited (formerly Bajaj Allianz Life Insurance Company Limited) is one of India's largest private-sector life insurers, established in 2001 as a joint venture between Bajaj Finserv and German insurer Allianz SE. Following Allianz SE's full exit completed in January 2026 for approximately USD 2.5 billion, the company is now wholly owned by the Bajaj Group, with Bajaj Finserv holding a 75.01% direct stake. The company offers a comprehensive product portfolio spanning term insurance (eTouch II, Smart Secure ROP, Superwoman, iSecure II, Diabetic Term), unit-linked insurance plans (Goal Assure IV, Smart Wealth Goal VI, Magnum Fortune Plus III, Supreme, GAIN), savings and endowment plans, retirement/pension products, child plans, and group insurance, complemented by add-on riders covering critical illness, accident protection, and family income protection.

The company serves 3.47 crore (34.7 million) lives covered with Rs 1.40 lakh crore (approximately USD 168 billion) in assets under management as of May 2026, supported by 598 pan-India branches and a 1,61,681-strong agent/consultant network. Its digital infrastructure includes the Life Assist customer portal, iOS and Android mobile applications, 18+ financial calculators, the SISO (Systematic Investment in Systematic Withdrawal) goal-based planning platform, and online purchase journeys enabling direct policy issuance. Specialized offerings address women customers (25% lower term premiums), Type 2 diabetics and pre-diabetics, NRIs across 10+ countries, and corporate group benefit programs.

The company generates revenue primarily through recurring insurance premiums across term, ULIP, savings/endowment, pension/annuity, and group lines, with pricing tiered by product, sum assured, and customer profile. Operational metrics include a 99.33% individual death claim settlement ratio for FY 2025-26, a 266% solvency ratio against the IRDAI-mandated 150%, an AAA stable rating from CARE Ratings, ISO/IEC 27001:2022 information security certification, and Rs 8,288.13 crore in cumulative individual claims paid from FY 2006-07 through March 2026. Recent strategic emphasis is on leveraging the 0% GST policy on individual life insurance (effective September 2025), deepening ecosystem synergies within the Bajaj Finserv group, and deploying policyholder AUM into alternative assets such as infrastructure investment trusts.

Name

Bajaj Allianz Life Insurance

Legal name

Bajaj Life Insurance Limited

Website

https://bajajallianzlife.com

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Bajaj Life Insurance is one of India's top private-sector life insurers offering term, ULIP, savings, pension, child, and group insurance plans to over 3.47 crore customers through a hybrid 1,61,681-agent, 598-branch, and digital distribution network, now fully owned by Bajaj Group after Allianz's 2026 exit.

Ownership category

akta.pro rank

Product category

Life Insurance

NAICS

Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411), Insurance Carriers (5241)

SIC

Life Insurance (6311)

akta.pro primary industry

Level Term Life Insurance (FSAIAAAA)

akta.pro secondary industries

Basic Group Term Life (Employer-Paid) (FSAIADAA), Universal Life (UL) Insurance (FSAIABAB), Whole Life Insurance (FSAIABAA)

Keywords

• Life insurance plans
• Term insurance policies
• ULIP investment plans
• Retirement pension plans
• Group insurance solutions

Headquarters

HQ city

Pune

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Term Insurance Premiums: Regular premium payments for term life insurance policies providing pure protection with no maturity benefits. Premiums determined by age, health, coverage amount, and policy tenure.
2. ULIP Premiums: Unit Linked Insurance Plan premiums split between life cover and investment in equity/debt/balanced funds. Investment risk borne by policyholder.
3. Savings and Endowment Premiums: Traditional savings and endowment plans with guaranteed returns, maturity benefits, and life cover.
4. Pension/Annuity Premiums: Retirement planning products providing regular income post-retirement through immediate or deferred annuity options.
5. Group Insurance Premiums: Corporate group insurance products including group term, group savings, and employee benefit plans.
6. Anchor Investment in IPOs: Investment in infrastructure investment trusts (InvITs) as anchor investor, such as Rs 1,728 crore investment in Raajmarg Infra Investment Trust IPO.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels7 records

Core offering

Bajaj Life Insurance sells individual and group life insurance products to retail customers, families, NRIs, and corporate employers across India. Its core offerings include term insurance plans (with 0% GST and online purchase options), unit-linked insurance plans (ULIPs) that combine market-linked investment with life cover, traditional savings and endowment plans, child education plans, and retirement and pension products that deliver guaranteed or market-linked income streams. It also offers group life and group employee benefit plans for employers, distributed through a vast agent network, 598 branches, digital channels, and dedicated NRI services in 10+ countries.

Product overview

Bajaj Life Insurance (formerly Bajaj Allianz Life Insurance) operates as a comprehensive life insurance platform offering multiple product categories across term insurance, unit-linked insurance plans (ULIPs), savings plans, retirement/pension plans, child plans, and group insurance. The company provides 0% GST on term plans and individual policies effective September 2025. Core term insurance offerings include eTouch II, Smart Secure ROP, Superwoman Term (women-specific), iSecure II, and Diabetic Term Insurance Plan. Investment products include ULIP plans (Goal Assure IV, Smart Wealth Goal VI, Magnum Fortune Plus III, Supreme, GAIN), savings plans (Flexi Income Goal Plus, ACE, Assured Wealth Goal Platinum, Guaranteed Wealth Goal), and retirement solutions (Smart Pension, Guaranteed Pension Goal II, LongLife Goal III, Saral Pension). The company serves NRI customers across UAE, USA, UK, Saudi Arabia, Qatar, Kuwait, Australia, Oman, Canada, and Singapore. Add-on riders include Family Protect Rider, Critical Illness Benefit Rider, and Linked Accident Protection Rider. Digital infrastructure includes Life Assist customer portal, mobile app (iOS/Android), branch network (598 branches), and multiple calculators for financial planning. Key metrics include 99.33% claim settlement ratio, 266% solvency ratio, and Rs 1.40 lakh crore AUM as of May 2026.

Differentiator

Problem solved

Functional benefit

Products and services

• Bajaj Life eTouch II A Non-Linked, Non-Participating, Individual Life Insurance Term Plan offering life cover with 0% GST, up to 16% discount on first-year premium, free health benefits up to Rs 31,000 per year, lifelong income for parents, and tax benefits up to Rs 46,800 under Section 80C. It is positioned as the flagship online term insurance plan for Indian consumers seeking affordable pure protection.
• Bajaj Life Smart Secure ROP A term insurance plan with Return of Premium feature that refunds all premiums paid if the policyholder survives the policy term, combining life protection with a savings-style payback for individual consumers.
• Bajaj Life Superwoman Term Term insurance plan designed exclusively for women, offering 25% lower premium than standard rates with life cover tailored to women's protection needs.
• Bajaj Life iSecure II A Non-Linked, Non-Participating Individual Term Life Insurance Plan providing basic life protection at affordable premiums for individual buyers.
• Bajaj Life Diabetic Term Insurance Plan Term insurance plan tailored for Type 2 diabetics with HbA1c level up to 8% and pre-diabetics, offering up to 10% discount and free health management services worth Rs 20,000 per year.
• Bajaj Life Goal Assure IV A Unit-Linked, Non-Participating, Individual Life Savings Insurance Plan offering market-linked returns with 34.5% CAGR (illustrative), tax benefits, and zero premium allocation charges for individual investors from Rs 3,000/month.
• Bajaj Life Smart Wealth Goal VI A Unit-Linked Non-Participating Individual Life Savings Insurance Plan providing wealth accumulation with flexible fund options and loyalty additions for individual investors.
• Bajaj Life Magnum Fortune Plus III A Unit-Linked Non-Participating Individual Life Savings Insurance Plan with market-linked investment returns and life cover for individual investors seeking higher-ticket ULIP exposure.
• Bajaj Life Supreme A Unit-Linked Non-Participating Individual Life Savings Insurance Plan offering Return of Mortality Charge, loyalty additions, and systematic partial withdrawals for liquidity planning in individual ULIP portfolios.
• Bajaj Life GAIN A Unit-Linked Non-Participating Individual Life Savings Insurance Plan combining life protection with investment growth opportunities for individual investors.
• Bajaj Life Flexi Income Goal Plus - Enhanced Benefit A savings plan with enhanced benefits offering flexible income options and life cover with guaranteed returns for individual investors seeking periodic payouts.
• Bajaj Life ACE A tax-saving life insurance savings plan offering guaranteed benefits and life cover under Section 80C for individual buyers.
• Bajaj Life Assured Wealth Goal Platinum A savings plan providing assured wealth accumulation with guaranteed benefits and comprehensive life coverage for individual investors.
• Bajaj Life Guaranteed Wealth Goal A savings plan with guaranteed returns and life cover, designed for conservative individual investors seeking stable, low-risk growth.
• Bajaj Life Smart Pension A Unit-Linked Non-Participating Individual Pension Plan providing retirement income with flexible annuity options and market-linked growth for individual retirement planning.
• Bajaj Life Guaranteed Pension Goal II A retirement plan offering guaranteed pension for life with multiple annuity options and spouse protection benefits for individual retirees.
• Bajaj Life LongLife Goal III A Unit-Linked Non-Participating Whole Life Insurance Plan extending coverage up to age 100 with retirement planning benefits for individuals seeking lifelong cover.
• Bajaj Life Saral Pension A simple annuity plan providing a guaranteed income stream with flexible purchase price and annuity options for individual retirees.
• Bajaj Life Group Secure Shield A group term insurance plan providing life cover to members of employer groups, associations, or societies for corporate buyers.
• Bajaj Life Group Secure Return A group savings plan offering life cover with return of contributions for group members, targeted at employer groups and associations.
• Bajaj Life Group Employee Care A comprehensive group employee benefit plan covering life protection and health benefits for workforce populations of corporate employers.
• Bajaj Life Young Achiever Plan A child insurance plan designed to secure a child's future education and life goals with premium waiver benefit for parents.
• Life Assist Customer Portal A digital customer portal enabling policy management, premium payments, fund switching, and claim tracking for Bajaj Life Insurance customers.
• Bajaj Life Insurance Mobile App A mobile application for iOS and Android providing comprehensive policy management, premium payment, fund switching, and customer services on-the-go.
• SISO Goal-based Investment-Withdrawal Platform An investment platform combining Systematic Investment and Systematic Withdrawal features for goal-based financial planning by individual investors.

Quantifiable outcome

• 99.33% individual death claim settlement ratio for FY 2025-26
• +3 more outcomes

Named customers3 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Allianz SEminorOthers · 10 March 2026Allianz SE completed exit from India by selling its 26% stake in Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance to Bajaj Promoter Group for approximately $2.5-2.8 billion. The remaining 3% stake expected to be sold by Q2 2026 through share buyback. This ended a 24-year partnership between Bajaj Group and Allianz.

Scale indicators9 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• SBI Life Insurance: India's largest private life insurer by individual new business premium, distributing through SBI's massive branch network and a large agent force. Highly comparable in product structure and customer mix, with the structural advantage of SBI's distribution moat.
• ICICI Prudential Life Insurance: Top-tier Indian private life insurer with a comparable product suite (term, ULIP, savings, retirement) and a strong bancassurance relationship through ICICI Bank. Closest competitor to Bajaj Life in digital onboarding, claim settlement metrics, and urban salaried customer targeting.
• HDFC Life Insurance: One of India's largest private life insurers offering term, ULIP, savings, pension, and group plans through a multi-channel distribution model. Directly comparable to Bajaj Life in product breadth, distribution (agents + bancassurance + digital), and target customer segments (salaried, NRI, corporate).
• PNB MetLife: JV between Punjab National Bank and MetLife, offering term, savings, ULIP, and retirement products. Comparable mid-tier private insurer with bancassurance-led distribution and similar focus on tier-2/3 city expansion.
• Max Life Insurance: Top-10 Indian private life insurer with similar AUM scale (~Rs 1.5 lakh crore) and a comparable product portfolio across term, ULIP, savings, and group. Recently announced merger with Axis Max Life and a bancassurance partnership with Axis Bank, making it a near-clone competitor in segment and target market.
• Tata AIA Life Insurance: JV between Tata Group and AIA (Hong Kong-based global insurer), offering term, ULIP, savings, and retirement products. Directly comparable in product line, multi-channel distribution, and the dual-brand trust narrative that Bajaj Life is now seeking to replicate without Allianz.
• Aditya Birla Sun Life Insurance: JV between Aditya Birla Group and Sun Life Financial, providing term, ULIP, savings, and group insurance. Comparable as a bancassurance-led private insurer with similar product mix and NRI customer targeting through Aditya Birla Capital's distribution.
• Kotak Mahindra Life Insurance: Subsidiary of Kotak Mahindra Bank offering term, ULIP, savings, and pension plans with strong bancassurance distribution. Comparable in customer segment (affluent salaried), digital capabilities, and selective product portfolio focus.

Emerging players

• Canara HSBC OBC Life Insurance: JV between Canara Bank, HSBC, and Oriental Bank of Commerce offering term, savings, ULIP, and pension products. Comparable as a mid-tier private insurer competing in the same customer segments and bancassurance-led model, with growing digital capabilities.

Broad incumbents

• Life Insurance Corporation of India (LIC): India's dominant state-owned life insurer with Rs 50+ lakh crore AUM, market-leading group insurance share, and the largest agent network in the country. The primary competitive incumbent across all of Bajaj Life's product lines; the most significant competitive constraint on pricing and market share.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 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

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Bajaj Allianz Life Insurance