Bajaj Life term insurance review
Bajaj Life, formerly Bajaj Allianz Life, settles 99.2% of the death claims it decides and draws 3.95 complaints per 10,000 claims (IRDAI data, three-year average to March 2026), a strong record on both counts. Its eTouch II was the cheapest of the five term plans in our May 2026 premium data: ₹738 a month for ₹1 crore at 30.
Written by Shadab SayeedReviewed by Kshitij JainUpdated nyvo insurance Services LLP, IRDAI Corporate Agent (Composite) CA1085Salaried advisors, no commission-based ranking
IRDAI published data, weighted over three financial years. Last checked . Compare every life insurer · Bajaj Life claim settlement ratio
Bajaj Life at a glance
| Death claims settled | 99.2%, ranked joint 8th of 22 life insurers |
|---|---|
| Complaints per 10,000 claims | 3.95, ranked 5th of 21 (fewer is better) |
| Term plans we have read | eTouch II, iSecure II |
| Death claim deadline | 15 days from intimation, or 45 days if the insurer investigates (IRDAI, 5 September 2024) |
| Full name | Bajaj Life Insurance Limited, formerly Bajaj Allianz Life Insurance Company Limited |
| ₹1 crore of cover at age 30 | ₹738 a month for a man, ₹628 for a woman, on eTouch II (nyvo premium data, May 2026) |
Not sure Bajaj Life is the right insurer for you? Book a free call and we will price it against two or three others on the same cover.
Why the settlement ratio tells you less here
A death claim is a binary event with a fixed sum, so life insurers settle almost all of them and their ratios cluster tightly while complaint volume across the market spans roughly 136 times. A two-point difference in settlement ratio is close to noise. What actually decides your family’s claim is what you disclosed when you bought, whether the policy was in force on the day, and whether the claim falls inside the first three years – the window in which Section 45 of the Insurance Act still lets the insurer contest on non-disclosure.
Is Bajaj Allianz Life now Bajaj Life?
Yes. Bajaj Allianz Life Insurance Company Limited has been renamed Bajaj Life Insurance Limited, and its brochures now carry the new name. It is the same insurer, so an existing Bajaj Allianz policy is still with Bajaj Life, and the claim and complaint figures here apply under either name.
Which Bajaj Life term plan: eTouch II or iSecure II?
eTouch II, for most buyers. It is Bajaj Life's online term plan, pays terminal illness early up to ₹2 crore, can run to age 99, and was the cheapest of the five plans we priced in May 2026. iSecure II comes in three variants; its Life variant returns every premium if you exit after 60, but only if you joined by 50 and chose a term of at least 35 years.
If you are weighing eTouch II against the insurer with the best claim record, our Bajaj eTouch II vs HDFC Click 2 Protect comparison sets them side by side.
The 2 Bajaj Life plans we have read
Filing a Bajaj Life death claim
IRDAI requires a death claim to be settled within 15 days of intimation, or 45 days of intimation where the insurer orders an investigation (Master Circular on Protection of Policyholders’ Interests, 5 September 2024). Those are deadlines your nominee can quote, not guidelines.
Servicing your Bajaj Life policy
If you already hold a Bajaj Life policy, these are its official servicing routes. The numbers and links are Bajaj Life’s own, current as of our last check. The single most important thing is that your nominee knows the policy exists and where to find these details – a term claim can only be made by someone who does.
Bajaj Life customer care number
Pay your Bajaj Life premium
Bajaj Life premium payment →Bajaj Life claim status
File or track on Bajaj Life →Bajaj Life questions, answered
What is the Bajaj Life claim settlement ratio?
99.2%, as a weighted average of the last three financial years from IRDAI published data, ranking Bajaj Life joint 8th of 22 life insurers. Read it knowing that life settlement ratios cluster above 96% and separate almost nobody, while complaint volume across life insurers spans roughly 136 times.
How does a nominee file a Bajaj Life death claim?
Intimate the insurer with the policy number and date of death, then submit the death certificate, the policy document, the nominee's ID and bank details, and the claim form. IRDAI requires the insurer to settle within 15 days of intimation, or 45 days of intimation where it orders an investigation (Master Circular on Protection of Policyholders' Interests, 5 September 2024). Our Bajaj Life death claim guide sets out the full document set and the escalation path.
Is a high claim settlement ratio enough to choose Bajaj Life?
No, and on the life side less than most buyers assume. Life settlement ratios sit within a few points of each other because a death claim is a binary event with a fixed sum. What decides your family's claim is disclosure at the time of buying, whether the policy was in force, and whether it fell inside the first three years, when Section 45 still allows the insurer to contest on non-disclosure.
Which Bajaj Life term plans has nyvo reviewed?
2. Each is read from the insurer's own policy wording and prospectus rather than marketing material, and each page states what the plan does not do as plainly as what it does.
What is the Bajaj Life customer care number?
Bajaj Life's customer care line is 020-6712 1212, and its website is https://www.bajajlifeinsurance.com. Claims can be emailed to customercare@bajajlife.com. For a term policy the number that matters most is the one your nominee calls to intimate a claim, so keep it with the policy document.
How do I pay my Bajaj Life premium online?
Pay on Bajaj Life's official premium-payment portal (linked above under "Managing your Bajaj Life policy") using your policy number. A term policy lapses if a premium is missed beyond its grace period, and reviving it can need fresh medical underwriting, so the payment date matters more than for most bills.
How does my nominee check a Bajaj Life claim online?
Intimate and track a Bajaj Life claim on its online portal (linked above), or call 020-6712 1212. IRDAI requires a death claim to be settled within 15 days of intimation, or 45 days of intimation where an investigation is ordered (Master Circular on Protection of Policyholders' Interests, 5 September 2024).
Which life insurer has the highest claim settlement ratio?
HDFC Life and Bandhan Life, both at 99.6% of individual death claims (IRDAI data, three-year weighted average, latest available as of March 2026). Bajaj Life settles 99.2%. The spread across life insurers is narrow, so look at complaints too: Bandhan Life draws 39.67 per 10,000 claims, Bajaj Life 3.95 and HDFC Life 1.33.
The ratio will not decide your family’s claim. Disclosure will.
We read the wording before recommending a term plan, and we help the nominee when the claim comes. If you are weighing Bajaj Life against another insurer, talk it through first.
Talk to an advisor →Sources
- IRDAI annual reports, the published source of insurer death-claim data · read 24 Oct 2026
- Bajaj Life eTouch II sales literature (UIN 116N198V10) · read 24 Oct 2026
- Bajaj Life iSecure II brochure (UIN 116N208V03), which gives the former name · read 24 Oct 2026
- nyvo's own premium data, May 2026, as published in our ₹1 crore term plan comparison
nyvo is an IRDAI-registered corporate agent (composite), licence CA1085. Figures are from IRDAI published disclosures, reproduced without adjustment, and describe the insurer rather than any individual policy.