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Bajaj Allianz General Insurance Company Limited
Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Finserv Limited (recently demerged from Bajaj Auto Limited) and Allianz SE. Both enjoy a reputation of expertise, stability and strength.
Bajaj Allianz General Insurance received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration on 2nd May, 2001 to conduct General Insurance business (including Health Insurance business) in India. The Company has an authorized and paid up capital of Rs 110 crores. Bajaj Finserv Limited holds 74% and the remaining 26% is held by Allianz, SE.
As on 31st March 2008, Bajaj Allianz General Insurance maintained its premier position in the industry by garnering a premium income of Rs. 2578 crore, achieving a growth of 43 % over the last year.Bajaj Allianz has made a profit before taxes of Rs. 167 crore and is the first company to cross the Rs.100 crores mark in profit after tax by generating Rs. 105 crores.
In the first quarter of 2008-09, the company garnered a gross premium of Rs.733.53 crores against Rs.573.73 core last year for the same period registering a growth of 28%.
Bajaj Allianz today has a countrywide network connected through the latest technology for quick communication and response in over 200 towns spread across the length and breadth of the country. From Surat to Siliguri and Jammu to Thiruvananthapuram, all the offices are interconnected with the Head Office at Pune.
Vision
To be the first choice insurer for customers To be the preferred employer for staff in the insurance industry. To be the number one insurer for creating shareholder value
MissionAs a responsible, customer focused market leader, we will strive to understand the insurance needs of the consumers and translate it into affordable products that deliver value for money.
A Partnership Based on SynergyBajaj Allianz General Insurance offers technical excellence in all areas of General and Health Insurance as well as Risk Management. This partnership successfully combines Bajaj Finserv's in-depth understanding of the local market and extensive distribution network with the global experience and technical expertise of the Allianz Group. As a registered Indian Insurance Company and a capital base of Rs. 110 crores, the company is fully licensed to underwrite all lines of general insurance business including health insurance.
Our Achievements Bajaj Allianz has received "iAAA rating, from ICRA Limited, an associate of Moody's Investors Services, for Claims Paying Ability.This rating indicates highest claims paying ability and a fundamentally strong position
Shareholders & Promoters
Bajaj Finserv Limited
Bajaj Finserv Limited has been recently demerged from Bajaj Auto Limited which is the largest manufacturer of two and three-wheelers in India .As a promoter of Bajaj Allianz General Insurance Company Ltd., Bajaj Finserv Ltd;has the following to offer:
Vast distribution network through its group companies Knowledge of Indian consumers. Financial strength and stability to support the insurance business. Visit Bajaj Allianz Life Insurance Website www.bajajallianzlife.co.in
Allianz SE, Germany
Allianz SE is in the business of General (Property & Casualty) Insurance; Life & Health Insurance and Asset Management and has been in operation for over 110 years. Allianz is one of the largest global composite insurers with operations in over 70 countries. Further, the Group provides Risk Management and Loss Prevention Services. Allianz has insured most of the world's largest infrastructure projects (including Hongkong Airport and Channel Tunnel between UK and France), further Allianz insures the majority of the fortune 500 companies, besides being a large industrial insurer, Allianz has a substantial portfolio in the commercial and personal lines sector, using a wide variety of innovative distribution channels.
Allianz SE has the following to offer Bajaj Allianz General Insurance Company Ltd. :
Set up and running of General insurance operations New and improved international products One of the world's leading insurance companies More than 700 subsidiaries and 2 lac employees in over 70 countries worldwide Provides insurance to almost half the Fortune 500 companies Technology .
Visit Allianz SE website www.allianz.com
Other similar businesses
The promoters have also incorporated a Life insurance Company in India, called Bajaj Allianz Life Insurance Company Limited to provide life insurance solutions.
Why Bajaj Allianz ?
The Bajaj Allianz Difference
Business strategy aligned to clients' needs and trends in Indian and global economy / industry Internationally experienced core team, majority with local background Fast, decentralised decision making Long-term commitment to market and clients
Trust
At Bajaj Allianz, we realise that you seek an insurer whom you can trust. Bajaj Finserv Limited ,is a part of Bajaj group ,which is a trusted name for over 55 years in the Indian market and Allianz SE has over 110 years of global experience in financial services. Together we are committed to provide you with time tested and trusted financial solutions that provide you all the security you need for your investments. And more…..
Underwriting Philosophy
Our underwriting philosophy focuses on :
Understanding the customer's needs Underwriting what we understand Meeting the customer's requirements Ensuring optimal coverage at lowest cost
Claims Philosophy
The Bajaj Allianz team follows a service that aims at taking the anxiety out of claims processing. We pride ourselves on a friendly and open approach. We are focused towards providing you a hassle free and speedy claims processing. Our claims philosophy is to :
Be flexible and settle fast Ensure no claim file to be seen by more than 3 people Check processes regularly against the global Allianz OPEX (Operational Excellence)
methodology Sold over 1 million since inception.
Customer Orientation
At Bajaj Allianz, our guiding principles are customer service and client satisfaction. All our efforts are directed towards understanding the culture, social environment and individual insurance requirements - so that we can cater to all your varied needs.
Experienced and Expert Servicing Team
We are driven by a team of experienced people who understand Indian risks and are supported by the necessary international expertise required to analyse and assess them.
Service engineers located in every major city
Superior Technology
In order to ensure speedy and accurate processing of your needs, we have established world class technology, with renowned insurance software, which networks all our offices and intermediaries
Using the Web, policies can be issued from any office across the country for retail products Unique, user friendly software developed to make the process of issue of policies and claims
settlement simpler (e.g. online insurance of marine policy certificate)
Unique Forms of Risk Cover
Special PA cover for Amarnath Yatris
Film insurance Event management cover Sports & Entertainment Insurance Package
Risk Management- Our Expertise
Our service methodology is tried, tested and Proven the world over and involves:
Risk identification: Inspections Risk analysis: Portfolio review and gap analysis Risk retention Risk Transfer: To an insurer as well as reinsurer (as required) Creation of need based products Ongoing dialogue and proactivity
Financial Highlights
Particulars 2007-08Rs. Million
2006-07Rs. Million
2005-06Rs. Million
2004-05Rs. Million
2003-04Rs. Million
Gross Written Premium 25780 18033 12846 8,560.7 4,798
Net Written Premium 17526 10398 6987 4,792.9 2,864
Net Earned Premium 14154 8385 5864 3,709.2 2,306
Net Incurred Claims -9457 (5556) (4100) (2,263.3) (1,542)
Net Commissions 188 786 622 419.4 231
Management Expenses -5195 (3454) (2156) (1,455.9) (984)
Underwriting Results -210 254 230 409.4 11
Income from Investments 1896 895 520 388.8 285
Others -7 21 68 28.6 22
Profit Before Tax 1679 1170 818 769.6 318
Provision for Tax 623 (417) (303) (298.7) (101)
Profit After Tax 1056 754 516 470.9 217
Claim's Ratio 67% 66% 70% 61% 67%
Commission Ratio -1% -9% -11% -11% -10%
Management Expenses Ratio 36% 41% 37% 40% 42%
Combined Ratio 102% 98% 96% 90% 99%
Return on Equity 23% 22% 23% 34% 20%
Shareholder's Equity 5748 4116 2,767 1,824.1 1,380
Assets Under Management 18632 13004 7580 5835.5 3,486
Number of Employees 3603 2540 1371 924 480
Received IRDA Registration in May 2001
Wednesday, February 07, 2001
Bajaj Allianz JV submits insurance application
Bajaj Allianz General Insurance, a joint venture between Bajaj Auto Ltd and Allianz AG of Germany, has submitted its application to the Insurance Regulatory and Development Authority of India (IRDA) to start general insurance business in India. In the Asia-Pacific region Allianz already has presence in 17 countries.
The joint venture has plans to provide products like motor, property, rural, engineering and health insurance. Besides general insurance, the joint venture will also enter the life insurance business in the near future.
CMD of Bajaj Auto Rahul Bajaj said, "We are looking forward to our foray into the insurance market. With the combined strengths of Allianz and Bajaj, we aim to become a leading force in the Indian insurance market".
Michael Diekmann, board member of Allianz, said, "Bajaj has an established brand synonymous with quality and customer focus and we are looking forward to successful and mutually beneficial partnership. We intend to provide the Indian customers with products and services backed by our world-wide knowledge of insurance".
Types Of Product
1.
Features
Assured best deals on your Motor Insurance Fair and Faster claims settlement
Discounts on back to back accident free years Instant online renewal and issuance of your Motor Policy Quick service on breakdown/accident with instant claim status updates 24x7 customer assistance for all product queries and claims information. Call me now
Benefits
Save on your Motor Insurance policy. Buy Online Now Cashless claims at over 1500 Preferred Bajaj Allianz workshops pan India, 75% on account payment
when cashless facility is not available Transfer your existing No Claim Bonus from any Insurance provider ranging from 20% - 50% 0% EMI option available on payment through Citibank Credit Card. Buy Online Now Instant claims assistance and instant updates on your claim status on sms though our 24x7 call
centers Towing facility in an event of a breakdown/accident 24/7 service by phone or online-even on holidays
Advantages
Huge savings with a comprehensive coverage for your vehicle Preferred workshops give you access to hassle free inspection, high service standards and cashless
settlement of claims in event of an accident/breakdown Carry your fortune for being a safe driver and earn discounts on Own damage premium for back to
back accident free years on an existing car or on any car which you upgrade to Instant online policy renewal and issuance in just 4 easy steps that allows you to have a peace of
mind for another year.Buy Online Now
Bajaj Allianz can get you back on the road quickly. Our claims service is available 24x7 and in FY 06'-07', we resolved 2.3 lakh motor claims worth over 294 crores
With a 24x7 assistance you can be sure we'll be there for you whenever you need us
2. Asset Insurance
A.]
At Bajaj Allianz we do not insure houses, we insure homes. For you your home is the most valued possession, a haven of safety. But is it really as safe as you believe it We at Bajaj Allianz value your security & peace of mind. Hence we bring to you the House- Holders' Insurance policy designed to cover various risks and contingencies faced by householders under a single policy. It provides protection for property and interests of the insured and his family members who permanently reside with the insured.
Coverages
1. Fire & allied perils Building & contents - Covers not only property, but also contents.
2. Burglary & Theft- Covers loss of house hold contents and expenses Incurred due to damage caused on incidence of house-breaking & theft.
3.Jewellery & Precious Items
All risk coverage for jewellery and precious stones.
4. Plate Glass Coverage against accidental breakage of glass.
5. Domestic Appliances Covered against any electrical or mechanical breakdown.
6. Electronic equipment All risk coverage
7. Pedal Cycles All risk coverage with a third party liability extension.
8. Baggage Insurance Covers loss of baggage while traveling.
9.Personal Accident Cover
Coverage for the insured and his family for any death or disability
10. Public Liability Covers any injuries or damages caused to third parties.
11.Workmen's Compensation
Covers workmen whom you have employed on wages.
Advantages
Single policy covering all risks related to home Complete coverage at reduced and very competitive premium rates Simple and quick documentation Related items get covered under respective sections No strain on pockets of insured Customized cover option available Benefits on sectional discount which will reduce the premium.
B.] Shop / Show Room Insurance
i. SHOP INSURANCE ENSURING SMOOTH FLOW OF YOUR BUSINESS
SHOPKEEPERS PACKAGE : We at Bajaj Allianz strongly believe that your shop is not only your most valued asset but also your source of income. Hence, we have brought to you the ‘Shopkeepers Package Policy. This policy protects your shops against all risks.
Features
Fire & Allied Perils -Provides protection for the property and interests of the insured against fire, burglary, theft or any fortuitous event
Covers breakdown of office equipment Workmen’s Compensation-covers liability towards workmen under the Workmen’s
Compensation Act. Covers Business Interruptions suffered due to fire and allied perils Fidelity Guarantee -Provides
protection against fraudulent and dishonest employees Covers money carried to the bank, plate glass, neon sign and other electronic equipment in
the shop Covers for damage to data media, software and cost of recovery of lost data Personal Accident
insurance provided for you and permanent employees
Advantages
Single policy covering all risks in a shop. Complete coverage at lower premium Simple documentation Covers for unanticipated loss Saving on costs Smooth functioning of the business One stop shop / solution for the clients business related needs.
ii. Motor Vehicle Dealers Package
How many times do you feel insecure when it comes to the safety of your garage or, your showroom, especially when you are the custodian for your customers vehicle's? There are various risks that your showroom and garage are exposed to. How do you cope with the losses if they occurs? To make you feel secure and safe Bajaj Allianz offers you the Motor Dealer Package Policy.
Features
Fire & allied perils - Building and Contents (excluding Valuables) Burglary & Robbery Damage to Motor Vehicle Neon Sign / Glow Sign Business Interruption Breakdown of Business, Equipment Money Plate Glass Electronic Equipment Fidelity Guarantee Personal Accident Omission to Insure Additional Rent Public Liability / Workmen's Compensation
Benefits
Cashless settlement of repair claims are preferred garages Immediate receipt of policies Hassle free documentation and inspection procedure
Advantages
Standardies labour costs Highest standards of services Quick settlement of major losses such as theft / total loss Speedy claim settlement
3. Health Insurance
The worst nightmare that anyone can have is the one when a family member is hospitalized. Today, when everything is uncertain nobody can be sure what will happen. A seemingly small ailment can turn into major one. And what happens when the earning member of your family is hospitalized? But with a policy from Bajaj Allianz you and your family can rest assured!
A.] HEALTH GUARD -COVERS ALL MEDICAL EXPENSES ON HOSPITALISATION
It is rightly said ‘Health is Wealth’. We are all aware that health care costs are high and getting higher. At times, unfortunately we fall prey to unanticipated accidents & illness. Bajaj Allianz promises to stand by you during those difficult times of physical and mental stress. Our Health Guard policy takes care of your hospitalization expenses & also offers a wide coverage of pre & post hospitalization expenses. We are the first company to provide the higher coverage of SI 10 lacs.
Features
The member has cashless facility at over 2400 hospitals across India The member can opt for hospitals besides the empanelled ones, in which the expenses
incurred by him shall be reimbursed within 14 working days from submission of all documents. Pre and post - hospitalization expenses covers relevant medical expenses incurred 60 days
prior to and 90 days after hospitalization. Cumulative bonus of 5 % is added to your sum assured for every claim free year. Family discount of 10 % is applicable. Covers ambulance charges in an emergency subject to limit of Rs. 1000 /- No tests required up to 45 years up to SI 10 lacs* 10% co- payment applicable if treatment taken in non-network hospitals. Waiver of co-
payment is available on payment of additional premium Pre-existing diseases covered after 4 years continuous renewal with Bajaj Allianz
Benefits
In house Health Administration Team for hospitalisation claims to lower turn around time Access to over 2400 hospitals all over India for cashless facility. No Sub-limits applicable on room rent and other expenses. Hassle-free claim settlement due to In-house claim administration. Income tax benefit on the premium paid as per section 80-D of Income Tax Act as per existing
IT law. Health Check up for maximum amount of Rs. 1000 /- at the end of continuous four claim free
years Family discount of 10% is applicable
Coverage
10 lacs coverage available from 3 months up to 55 years* Policy can be renewed up to 70 years* In built E-opinion cover for SI 5 lacs & above.
*conditions apply.
B.]
HOSPITAL CASH - COVERS NON-MEDICAL EXPENSES DURING HOSPITALISATION
With a Hospital Cash policy from Bajaj Allianz you and your family can now breathe a sigh of relief! As this is a benefit policy which covers the incidental expenses incurred during the Hospitalization period. In the event of hospitalization this policy provides a cash allowance of Rs 500-2500 for each day of hospitalization.
Features
The policy pays a daily allowance as a fixed benefit on hospitalisation The Policy can be taken along with any other health insurance policies. The allowance is doubled in case of ICU admission (for maximum 7 days) Photocopy of discharge card, along with copies of reports, bills and prescriptions required for
claims processing. The policy can be taken along with any other health insurance policies It is a unique policy covering incidentals or miscellaneous expenses incase of hospitalisation.
Benefits
Covers miscellaneous expenses incurred during hospitalization. Comprehensive coverage with nominal premium. Premium amount upto Rs.15000/- p.a. is eligible for tax exemption under section 80-D of
Income Tax Act as per existing IT law.
Dependent spouse and children can be also covered under this policy. 5% family discount is applicable if cover taken for family
Coverage
SI available from 500-2500. Cover available for 30days & 60 days.
C.]
CRITICAL ILLNESS - GUARANTEED LUMP SUM PAYMENT ONCE ONCE DIAGNOSED OF CRITICAL ILLNESS
Critical illness policy provides protection from the life threatening illness, which can hamper your routine life style. With a critical illness cover you can secure yourself from such contingencies. This is a benefit policy which pays the SI as lump sum amount once you are diagnosed with one of the listed critical illness*
Cancer Multiple Sclerosis Paralysis Coronary Artery Bypass Surgery Major Organ Transplant
Primary Pulmonary Arterial Hypertension. First Heart Attack Stroke Kidney Failure Arota Graft Surgery
Features
Covers 10major illnesses like cancer, heart attack, paralysis, etc. The benefit amount is payable once the disease is diagnosed meeting specific criteria and the
insured survives 30 days after the diagnosis* Medical examination may be required in some cases based on the age and the benefit amount
opted by the propose.
Benefits / Advantages
Very competitive premium rates The insured receives the amount as lump sum so that he can plan the treatment accordingly Expenses like donor expenses in a transplant surgery, which are not covered under normal
health insurance policy, can be paid out of the amount received under this cover Premium paid is exempt under the section 80 D of Income Tax Act as per existing IT laws. Hassle-free in house claim settlement.
Coverage
SI available from 1,00,000 to Rs. 50,00,000 Age band – 6 yrs – 59 Years.
* Conditions apply.
D.]
CRITICAL ILLNESS - GUARANTEED LUMP SUM PAYMENT ONCE ONCE DIAGNOSED OF CRITICAL ILLNESS
Critical illness policy provides protection from the life threatening illness, which can hamper your routine life style. With a critical illness cover you can secure yourself from such contingencies. This is a benefit policy which pays the SI as lump sum amount once you are diagnosed with one of the listed critical illness*
Cancer Multiple Sclerosis Paralysis Coronary Artery Bypass Surgery Major Organ Transplant
Primary Pulmonary Arterial Hypertension. First Heart Attack Stroke Kidney Failure Arota Graft Surgery
Features
Covers 10major illnesses like cancer, heart attack, paralysis, etc. The benefit amount is payable once the disease is diagnosed meeting specific criteria and the
insured survives 30 days after the diagnosis* Medical examination may be required in some cases based on the age and the benefit amount
opted by the propose.
Benefits / Advantages
Very competitive premium rates The insured receives the amount as lump sum so that he can plan the treatment accordingly Expenses like donor expenses in a transplant surgery, which are not covered under normal
health insurance policy, can be paid out of the amount received under this cover Premium paid is exempt under the section 80 D of Income Tax Act as per existing IT laws. Hassle-free in house claim settlement.
Coverage
SI available from 1,00,000 to Rs. 50,00,000 Age band – 6 yrs – 59 Years.
* Conditions apply.
E.]
SILVER HEALTH POLICY - EXCLUSIVE HEALTH INSURANCE FOR PEOPLE AGED 46YRS AND ABOVE
As the age of an individual increases the health care costs increase & become a burden on the individual. The senior citizens have to pay out the hard earned savings to meet the expenses. Bajaj Allianz’s Silver Health plan is exclusively designed for the senior citizens, which covers medical expenses incurred during hospitalization period.
Features
Pre-existing diseases covered from the second year of the policy. A flat benefit of 3% of admissible hospitalization expenses are paid towards pre & post
hospitalization expenses. Cashless facility : With Silver Health plan, the member has access to cashless facility at
various network of over 2400 hospitals across India (subject to exclusions and conditions) If admission in non-network hospitals the expenses incurred would be reimbursed within 14
days from the submission of all documents. 20% of co-payment of the admissible claim to be paid by the member if treatment is taken in
a hospital other than a network hospital. Waiver of co-payment is available on payment of additional premium.
Advantages
Cumulative bonus of 5 % added to your sum assured for every claim free year. Health Check up at the end of continuous four claim free years. Family discount of 5 % is applicable. Income tax benefit on the premium paid as per section 80-D of the Income Tax Act as per
existing IT law.
Coverage
Policy can be taken form 46-70yrs * Renewal up to 75 yrs* SI can be opted form 50,000 – 5, 00,000.
*Conditions apply.
F .]
e-opinion
Bajaj Allianz launches e-opinion rider, which will cover the expenses of 2nd opinion e-consultation services for serious illness in India. The policy offers unprecedented access to over 7000 physicians employed by the renowned hospitals of the WorldCare Consortium. This innovative e-opinion rider gives you an opportunity to obtain best of international expertise at a fraction of the cost.
Features
Anyone taking this plan is entitled to take a second opinion should there be any illness and an expert consultation is required.
This rider entitles you to have a 2nd opinion from renowned hospitals of the WorldCare consortium of hospitals like Clevland Clinic, Duke University, Massachusetts General Hospital, Brigam and Women's Hospital.
Qualified physicians from these renowned hospitals will render a written report which includes a diagnosis and treatment plan within 7 working days .
Benefits
Simple process of sending medical reports in digitized form to WorldCare consortium. This product provides independent, world class opinions which will enable the attending doctor
and the patient to take informed decisions on the diagnosis and the further course of action. Three opinions are available per year of coverage and 6 opinions in case it is renewed
continuously.
Advantages
Valuable 2nd opinion at nominal cost without physically visiting these renowned hospitals. Opinions for major critical illnesses Access to over 7000 physicians employed by the renowned hospitals of the WorldCare
Consortium.
G.]
STAR PACKAGE - COVERS HEALTH & HOME IN A SINGLE PLAN
Star Package policy is a unique family floater policy which protects your family against various risks and contingencies. It provides a gamut of covers for various health risks, household contents, education grant, travel baggage and public liability all under a single policy. It has 8 sections and you would have to opt for a minimum 3 sections to avail for this policy.
Features
Covers Hospital Cash, Health Guard, Critical Illness, Personal accident, Education Grant, Householders contents, Traveling Baggage & Public liability.
Family floater can be opted by paying 50% & 25% of self premium for spouse & children respectively.
Add on covers can be opted under Health Guard. 12 Dreaded diseases are covered under Critical illness. The policy can be taken for maximum 3 years to avoid yearly renewal. 10-15% section discount can be availed if 4 or more sections are opted. 10-15% Long term discount can be availed if the policy is taken for 2 or more years.
Benefits
Wide coverage from Health to Home. Access to over 2400 hospitals all over India for cashless facility. No Sub-limits applicable on room rent and other expenses. Hassle-free claim settlement due to In-house claim administration Income tax benefit on the premium paid as per section 80-D of Income Tax Act* as per
existing IT law
* Conditions apply.
Coverage
Age – 3 Months – 55 years. Wide range of Sum Insured is available under different cover
Products Sum Insured
Hospital cash 500 to 2500
Health Guard 100000 to 500000
Critical illness 100000 to 300000
Personal Accident 200000 to 500000
Education Grant 200000 to 500000
House Holder Content 100000 to 400000
Traveling Baggage 10000 to 40000
Public Liability 200000 to 500000
H.]
Health Ensure
In the times of rising medical costs Bajaj Allianz’s Health EnSure policy is the perfect health protection for you and your family. It takes care of the medical treatment costs incurred during hospitalization due to serious accident or illness.
Features
Pre-existing diseases covered after 2 yrs continuous renewals with us. A flat benefit of 2% of admissible hospitalization expenses are paid towards pre & post
hospitalization expenses. Access to 2400 hospitals for Cashless facility In case of admission in non network hospitals the expenses incurred would be reimbursed
within 14 days from the date of submission of all documents
Advantages
No tests required up to the age of 55 yrs* Health Check up at the end of continuous four claim free year 130 day care procedures covered In case of emergency ambulance charges covered subject to a maximum of Rs. 1000 /- per
policy period. Hassle free claim settlement due to in house claims administration team Family discount of 5 % is applicable Income tax benefit on the premium paid as per section 80-D of the income Tax Act.
Coverage
Policy can be taken from 3 months to 55 yrs * Renewal up to 75 yrs* SI - 50,000, 75000, and 1 lac.
* Conditions apply.
I.]
INSTA INSURE - FAMILY HEALTH POLICY
In the times of rising medical costs Bajaj Allianz's Insta Insure Family Health Policy is the perfect health protection for you and your family. It takes care of the medical treatment costs incurred during hospitalization due to serious accident or illness. The policy also pays an amount equivalent of 2 % of admissible hospitalization expenses towards pre and post hospitalization medical expenses and ambulance charges in case of emergency (subject to a maximum of Rs1000). The proposer (self insured) under the policy is also covered for a sum insured of Rs1lac against death due to accident
3 easy steps -Select your desired insurance plan
Pick the Kit to fill the proposal formPay your Premium by Cheque/Card/Cash and get insured
Features
A single family floater policy to cover hospitalization expenses & personal accident benefit Hassle free policy, Health & PA cover for Healthy individuals without any history of pre-existing
diseases. The cover starts once the KIT is activated by generating the authentication number Entry age restricted upto 45 yrs and no medical underwriting( Subject to clean proposal) Policy can be renewed till proposer attaining an age of 70 yrs Access to over 2400 hospitals for cashless facility
Benefits
Complete protection to the family for hospitalization expenses All the family members can be covered under a single SI for a single premium ( Floater Cover) Death cover for the proposer. Hassle free policy issuance without medical tests Income tax benefit on the premium paid as per section 80D Covers emergency ambulance charges
Coverage
1 lac family floater cover towards Hospitalization expenses & 1 lac death cover for the proposer
The policy covers ambulance charges in case of emergency subject to a maximum of Rs 1000 130 day care procedures subject to terms and conditions Pre-existing diseases covered after 4 years’ continuous renewals with us A flat benefit of 2% of admissible hospitalization expenses towards pre and post
hospitalization medical expenses
Eligibility
Age of proposer 18 years to 45 years Age of entry 3 months to 45 years Policy renewed continuously upto age 70 years No pre existing ailment
Premium
Self Rs.1,550
Self + Spouse Rs.2,050
Self + Spouse + 1 Child Rs.2,300
Self + Spouse + 2 Children Rs.2,550
Activation process
There are three ways to Activate the Kit :
1) Activate KIT through SMS Here user will send an SMS to 9223055858 in the following format <<OTC>> space <<10digit mobile number of the client>> space <<kit number>>space <<self name of the client/proposer>> space <<Health Card number>> System shall activate the Kit number and send a reply SMS with the activation code to the following mobile numbers:
1. Reply to the same mobile number from where request originated 2. Reply to the mobile number mentioned in the SMS 3. Reply to the Relationship Manager
2)Activate Kit through Calling the Call centre
Distributor (IMD) can call to our Call Centre or Branch Office and give following details and Activate the KIT
a) KIT Number b) Health Card No c) Customer Name d) Customer Mobile No e) Caller's Mobile No
After activation system shall send a SMS with the activation code to the following
mobile numbers
To the customer mobile number To the Relationship Manager mapped to the distributer for the sold KIT To the caller's mobile no (Mobile No. from where the request come for KIT Activation) To the distributor's mobile no.
3) Activate Kit through Calling up the nearest office
Distributor (IMD) can call to our Call Centre or Branch Office and give following details and Activate the KIT
a) KIT Number b) Health Card No c) Customer Name d) Customer Mobile No e) Caller's Mobile No
After activation system shall send a SMS with the activation code to the following mobile numbers:
To the customer mobile number To the Relationship Manager mapped to the distributer for the sold KIT To the caller's mobile no (Mobile No. from where the request come for KIT Activation) To the distributor's mobile no.
4. Travel Insurance
Whether you travel for business or pleasure, international travel involves risk.Medical treatment abroad can be expensive & one never knows, when one would require it. There are other difficult situations also, that one might face like loss of passport or baggage. Bajaj Allianz's Travel companion is designed to help you deal with such situations while overseas travel.
A .]
Travel Companion
Traveling Overseas ?
Whether you travel for business or pleasure, international travel involves risk. Medical treatment abroad can be expensive & one never knows, when one would require it. Having to spend for medical bills in foreign currency can be an expensive proposition. There are other difficult situations also, that one might face like loss of passport or baggage. Bajaj Allianz's Travel companion is specially designed to help you deal with situations while overseas travel.
Features
Covers medical expenses and repatriation Covers for any delay or loss in baggage Provides student package for students traveling abroad for abroad for studies Family floater available
Benefits
Spend for medical bills in foreign currency Takes care of sudden and unforeseen expenditure Takes care of expenditures in foreign land away from home Convenient and hassle free trip for the family
Advantages
Provides financial support outside the country Can take care of any emergency purchases in case of loss / delay in baggage Covers for accident of sponsor travel of family visit in case of hospitalization of insured. Entire family can be covered under one policy
B .]
Student Companion
What does this Policy cover?
This Policy consists of the following sections:
Personal Accident -covering death and permanent disablement Medical Expenses and repatriation - covering hospitalisation expenses arising out of
illness/sickness and also repatriation expenses for sending mortal remains to India Loss of checked baggage - covering total loss of baggage checked by an international airline Tuition Fee - In the event of the insured unable to continue the school semester due to any of
the following reasons arising during the policy period, the Company shall reimburse the tuition fee paid in advance for the current semester, subject to maximum the limit shown in the schedule: A. Serious medical condition of the insured requiring hospitalization covered under the policyB. Death or serious injury requiring hospitalization of either of the parents of the insured
Accident To Sponsor -In the event of the sponsor named in the schedule meets with an accident during the policy period, which results in his death or permanent total disability during the policy period, the Company shall reimburse the remaining school fee subject to maximum the limit shown in the schedule.
Family Visit-In the event of the insured become hospitalized as a result of an accidental injury or sickness covered under the policy and the attending physician advises the necessary attendance of a Family Member of the Insured, the Company will reimburse the actual cost of economy class transportation by the most direct route via a common carrier subject to maximum the sum insured. For this purpose, family member shall mean spouse, parent, sibling and in laws of the insured.
Personal Liability - covering legal liability attaching in a private capacity during the course of overseas travel.
This coverage is also subject to the exclusions of Personal Accident and Medical Expenses sections of the policy.
Following are the Plans- All Coverage's in USD
Coverage Standard
Family Visit USD 7500
Loss Of Baggage USD 1000
Medical Expenses USD 50000
Personal Acciden USD 50000
Personal Liabili USD 100000
Accident to Spon USD 10000
Tuition Fee USD 10000
Silver
USD 7500
USD 1000
USD 100000
USD 50000
USD 100000
USD 10000
USD 10000
Gold Deductibles
USD 7500 NIL
USD 1000 USD 100
USD 200000 USD 100
USD 50000 NIL
USD 100000 USD 200
USD 10000 NIL
USD 10000 NIL
C .]
Travel Asia
Travel Asia Flair
Travel Asia Flair has a premium that varies from Rs 250 to Rs 475 for 1-4 days of coverage and age up to 40 years. The coverage is about $15,000.
TRAVEL ASIA - FLAIRPREMIUM
Period/Age15-21 days22-30 days5-7 days1-4 days22-30 days15-21 days8-14 days5-7 days1-4 days22-30 days15-21 days8-14 days5-7 days1-4 days8-14 days1-4 days5-7 days8-14 days15-21 days22-30 days15-21 days8-14 days5-7 days1-4 days22-30 days15-21 days8-14 days5-7 days1-4 days22-30 days15-21 days8-14 days22-30 days1-4 days5-7 days
6m-40yrs379423290223422379334290223423379334290223334223290334379423379334290223423379334290223431386340422227295
41-60yrs295489290290340334334334386379379379431423423422499490490290
41-60yrs476801467466522513513512635623623622726713713712817802802467
TRAVEL ASIA - FLAIR
Cover
Medical Expenses,Evacuation and Repatriation
Delay of Checked Baggage
Hijack
Loss of Checked Baggage
Loss of Passport
Personal Accident
Personal Liability
Travel Asia Supreme
Travel Asia Supreme's premium ranges from Rs 325 to Rs 650 for 1-4 days of coverage and age up to
40 years. The coverage is about $25,000.
TRAVEL ASIA - SUPREMEPREMIUM
Period/Age15-21 days22-30 days5-7 days1-4 days22-30 days15-21 days8-14 days5-7 days1-4 days22-30 days15-21 days8-14 days5-7 days1-4 days8-14 days1-4 days5-7 days8-14 days15-21 days22-30 days15-21 days8-14 days5-7 days1-4 days22-30 days15-21 days8-14 days5-7 days1-4 days22-30 days15-21 days8-14 days22-30 days1-4 days5-7 days
6m-40yrs513579356290578512462356290579513463356290463290356462512579513463356290579513463356290590522472578295363
41-60yrs363622356356408401401401522513513512590579579578635623623356
41-60yrs5441158534533635623623622749735735734966948948947118011591159534
TRAVEL ASIA - SUPREME
Cover
Medical Expenses,Evacuation and Repatriation
Delay of Checked Baggage
Hijack
Loss of Checked Baggage
Loss of Passport
Personal Accident
Personal Liability
* The plan is valid for all Asian countries except Japan. * Period of Travel not to exceed 30 days * No extension to be granted if period of Travel exceeds 30 days
D .]
Travel Elite
Bajaj Allianz General Insurance has recently launched an exclusive policy for high end travellers called Travel Elite- a cluster of benefitspolicy made for the specific customer group.
Travel Elite is a plan for high end travellers who have various plans and packages to choose from : Travel Elite,Travel Age Elite,Travel Corporate Elite,Student Elite,Travel Asia Elite,Travel Elite Family.
Features
Covers personal accident and disability, medical expenses and repatriation Compensation in addition to sum insured under personal accident during the course of journey Covers for loss or delay of checked baggage and loss of passport Compensates for trip delay, curtailment and cancellation and pays when aircraft is hijacked Direct settlement for in-hospital medical expenses abroad Covers for home burglary Reimburses expenses during Golfer's Hole-in-one celebration
Benefits
Take care of expenditure in foreign lands currency Ensures convenient and hassle free trip for the family Help in sudden and unforeseen expenditure Speed for medical bills in foreign currency
Advantages
Covers cost of emergency purchase of replacement items during delay in checked baggage Can take care of any emergency purchases in case of loss / delay in baggage Customised to the needs of high-end customers Provides financial support outside the country
E .]
Travel Assist
Bajaj Allianz General Insurance along with ASSIST CARD a Swiss company has launched a co-branded travel insurance product called TRAVEL ASSIST . The product has all the benefits of the exisitng travel insurance products plus several value-added services to quality-sensitive customers .
Features
Medical assistance in case of an emergency Covers Personal Accident ,Medical Expenses & Medical Evacuation & Repatriation
Loss & delay of Checked Baggage Covers pre-existing medical conditions Convalescence after hospitalisation
Benefits
Guaranteed cashless assistance even for minor medical expenses Accidental death benefit coverage Personal and legal assistance Tracking of lost luggage More than 3000 experts ready to assist you One of the largest house call doctor networks in the world Concierge services 24 x 7 alarm centres in more than 100 countries to provide assistance
Advantages
Takes care of medical bills in foreign currency Takes care of sudden and unforeseen expenditure Convenient and hassle free trip for the family Inhouse claim settlement team to lower turn around time
F .]
Swades Yatra
Travelling has become very frequent be it for business or leisure.The risk of accidents increase due to freqency of travel.Any accident would affect your finances either due to medical expenses incurred or loss of income to the family due to unfortunate circumstances like death or disability. Swades Yatra is a comprehensive package policy for domestic travellers which provides complete personal accident benefit cover including hospitalisation expenses as a result of accident.
Features
Covers Personal Accident including hospitalisation as a result of accident Medical evacuation & repatriation Accidental Hospital cash benefit Personal liablity benefit Accomodation charges at hotels due to trip dealy of rail/air journey Loss of ticket of rail/air Family transportation incase of visit to hospital Replacement of staff for business trip only Missed departure for air/rail
Benefits
Takes care of any emergency purchases in case of loss of ticket Covers for accident of sponsor travel of family visit in case of hospitalization of insured
Advantages
Provides financial support 24 x 7 assistance Inhouse Claims team to lower turn around time
5. Corporate
You put your hard earned money into your business. We have a range of products to secure your business against all risks.
A.]
In order to take care of special needs like Aviation, Marine Hull, Project Insurance, Freight Forwarders, Port Liabilities, Film Insurance...
i. Aviation
Backed by one of the largest Aviation insurers in the world Global expertise Flexible approach to meet the customers requirements Fast claims settlement We write
Airlines General Aviation Fixed Wing Helicopters Airport Liability Loss of License for Pilots Crew insurance
Combines one of the most knowledgeable teams of aviation insurance professionals with the industry's most respected aviation insurance companies
At Bajaj Allianz, we realize that every customer's aviation insurance requirements are unique. Our customers can be certain that their coverage is carefully tailored and customized to their
specific needs.
Bajaj Allianz has the capability, commitment, and resources to handle all of your aviation insurance requirements - from single engine aircraft to major airports - and everything in-between.
ii.
Marine Hull Insurance
Marine Hull insurance in India is tariff business
Bajaj Allianz specializes in the following under Marine Hull Business
Ocean Going Vessels Coastal Vessels Inland Vessels Yachts and Pleasure Crafts Port Crafts Ship Building Charter's Liability We currently participate on the insurance of some of the largest fleets in India We insure a large number of Coastal and Inland vessels We have an experienced and dedicated team to manage this line of business We are proactive in claims settlement We are backed by one of the strongest hull insurers in the world - Allianz
We leverage the global expertise of Allianz
iii.
Project Insurance
In Project Insurance we cover following
Contractors All Risk Insurance Policy
Erection all risk / Storage-cum-erection policy
Contractor's Plant and Machinery Policy
Contractors All Risk Insurance Policy
Scope of Cover
Covers civil construction projects, such as residential / commercial buildings, theatres, factory sheds, warehouses, roads, bridges, dams, reservoirs, tunnels, oil / gas pipelines, water / sewage disposal works, etc. Perils covered
Fire & Allied Perils Flood, Storm, Tempest, Cyclone Earthquake, Fire & Shock Collapse Water Damage for Wet Risks
Sum Insured
The Sum Insured shall include landed cost at site of imported / indigenous materials, construction cost (including visits of specialists / experts, supervision charges). It is the completely erected value of property inclusive of freights, custom duty, erection cost adjusted to fluctuations in wages / prices.
Premium Rate
The Premium Rate is based on the type of project, nature of construction period of project, EQ Zone and voluntary excess.
Extensions
Breakage of Glass Storage Risks at Fabricators premises /workshop Sites located in EQ Zones I & II Clearance & Removal of Debris Third Party Liability Surrounding Property Escalation Express Freight Holiday & Overtime Rates for wages Air Freight Additional Custom Duty Construction, Plant & Machinery Maintenance Visits and extended Maintenance cover
Exclusions
War & Nuclear Risks Willful Act / Negligence
Partial / Total cessation of Work Normal wear & tear Gradual deterioration due to atmospheric conditions Loss or damage due to faulty design Contractual liabilities Consequential Losses Cost of replacement / repair or rectification of
defective material and/or workmanship
Erection All Risk
Erection All Risk / Storage-Cum-Erection Policy
Scope of Cover
This policy covers All Risk pertaining to projects of Erection, Testing and Commissioning subject to the following exclusions and conditions
Extensions
Express freight (excluding air freight), holiday and overtime rates of wages Air Freight Additional customs duty Contractor's Plant and Machinery equipment upto sum insured of Rs.25 lacs or 5% of EAR/SCE
sum insured, whichever is lower Premium for periods beyond policy period and discounts/loadings on them based on claims
experience. Testing period extensions Delay in start up (DSU) / Advanced Loss of Profits (ALOP) covers Storage risks at the fabricators premises/workshop unless specifically covered for Custom duty unless specifically covered for Expenses towards clearance and removal of debris unless specifically covered for Third party liability covers beyond limits stipulated vide section 14-A of tariff Cross liability, civil works, surrounding property coverages unless specifically covered for Escalation beyond 50% of EAR/SCE sum insured Surrounding property excludes construction /erection machinery, plant and equipment
Exclusions
War and Nuclear group of perils Wilful act / negligence
Loss discovered at time of taking inventory Normal wear and tear; Gradual deterioration due to atmospheric conditions or otherwise, rust Scratching of painted or polished surface, Breakage of glass Loss or damage due to faulty design, defective material or costing and bad workmanship (limited
to items immediately affected) Cost of rectification or correction of any error during erection not resulting in physical loss or
damage Damage to files, drawings, accounts and bills etc. Penalties for non-fulfilment of contractual obligations Consequential losses Aesthetic defects Operational deficiencies Costs of any alterations, additions and/or improvements after a claim Contractor's Plant and Machinery loss or damage by its own explosion/mechanical electrical
breakdown/derangement Exclusions for Third Part Liability
(1) Excess as per policy(2) Property covered in material damage (3) Employees and their family members and property of principal / contractor/sub-contractor (4) Accidents caused by road, water and airborne vehicles (5) Contractual liabilities
Erection All RiskPlant
Erection All Risk / Storage-Cum-Erection Policy
Scope of Cover
This policy covers All Risk pertaining to projects of Erection, Testing and Commissioning subject to the following exclusions and conditions
Extensions
Express freight (excluding air freight), holiday and overtime rates of wages Air Freight Additional customs duty Contractor's Plant and Machinery equipment upto sum insured of Rs.25 lacs or 5% of EAR/SCE
sum insured, whichever is lower Premium for periods beyond policy period and discounts/loadings on them based on claims
experience. Testing period extensions Delay in start up (DSU) / Advanced Loss of Profits (ALOP) covers Storage risks at the fabricators premises/workshop unless specifically covered for Custom duty unless specifically covered for Expenses towards clearance and removal of debris unless specifically covered for Third party liability covers beyond limits stipulated vide section 14-A of tariff Cross liability, civil works, surrounding property coverages unless specifically covered for Escalation beyond 50% of EAR/SCE sum insured Surrounding property excludes construction /erection machinery, plant and equipment
iv.
Sports and Entertainment
Introduction
The Sports and Entertainment industry has grown to over rupees 62,000 crore in India. With this development has come a more professional and time-bound approach to doing business. A direct result of which is that more money is invested in even bigger and more diverse ventures. With higher investments comes increased risks; risks due to unforeseen occurrences, bad weather, accidents, human error, mismanagement, event cancellation, non appearance of celebrities etc. But now Bajaj Allianz's presents customised insurance cover for the Sports & Entertainment industry your safeguard against potential loss.Whatever venture you may undertake, be it film production, a musical concert, a cricket match or even a product launch, all your elaborate preparations and effort could be ruined by something unforeseen. You can't possibly anticipate everything that may go wrong, but you can surely and comprehensively protect yourself from loss by opting for this customised insurance cover.Now, with this customised insurance cover, whenever you embark on any venture, you can do so with complete assurance of a successful outcome. Bajaj Allianz will provide you peace of mind against all contingencies, and make good the monetary losses should you suffer any from unexpected occurrences.
The various customised covers for some of the specific sectors are
Films and Television
Making a film involves heavy investment and consequently involves significant risk. With film production in India getting industry status, the burning need of the hour for production houses is insurance coverage. This insurance cover is tailor-made for all aspects of the film industry like:-
Films & documentaries Television serials Advertising films etc
Sports Tournaments
The policy provides specific coverage for sporting tournaments like:
Cricket Hockey Golf Athletics Football Swimming etc.
Events
With the advent of professional event managers there is now a more professional approach to the
business of Event Management. Bajaj Allianz offers insurance covers for various events such as:-
Musical events Award ceremonies Product launches Fashion shows Exhibitions etc.
Scope of Coverage
The insurance coverage is highly customised to suit specific requirements. The basic coverage includes the following :-
Event Cancellation Cast Insurance* Extra Expenses* Film Negative* Fire (Allied Peril) Personal Accident Money (in transit & in safe) Hospital Cash Burglary Public Liability
(*in case of films, television serial)Though these are suggested, the insurance covers can be enhanced or modified to suit specific requirements.
B.]
Your employees are your strength, you can take care of your employees with our Group policies like PA, Group HG, Group CI, Group Travel...
i.
Group Personal Accident : : This group Personal Accident Insurance covers
DeathWe will pay the sum insured stated in the Schedule if death of the Insured or the insured person
occurs within 12 calendar months due to an accident occurring during the policy period .
Permanent Total DisablementWe will pay up to 125 % of the total sum insured if the Insured or the insured person is injured due to an accident occurring during the period of insurance and within 12 calendar months of its happening, the Injury becomes the sole cause of permanent total disablement.
Permanent Partial DisablementWe will pay a proportion of the sum insured according to the scale of benefits if the Insured or the insured person is injured due to an accident occurring during the policy period and within 12 calendar months of its happening, the Injury becomes the sole cause of a permanent partial disablement.
Temporary Total DisablementWe will pay a weekly benefit as stated in the Schedule if the Insured or the insured person is injured due to an accident occurring during the period of insurance and within 12 calendar months of its happening, the Injury results in the Insured or insured person being totally unable to attend his occupation as stated in the Schedule.
Children Education Bonus
In case of Death or Permanent Total Disability of Insured or the insured person we will pay an additional amount to the Insured's or the insured person's children to support their education.
Additional Benefits
Medical ExpensesWe will pay a percentage of the admitted claim under other specified coverage towards the actual medical expenses necessarily and reasonably incurred for medical treatment within 100 weeks of its happening if the Insured or the insured person suffers injury during the period of insurance and provided such treatment is received from a qualified and registered medical practitioner.
Hospital Confinement AllowanceIn the event of the Insured or the insured person being confined in hospital for treatment of injury for which compensation is payable under this policy, a daily benefit is paid for such period of confinement subject to a maximum period of 30 days
Classification of occupation
Risk Class 1:You are mainly engaged in administrative or managing functions, Accountant, Doctor, Lawyer, Architect, Consulting Engineer, Teacher, Banker or primarily engaged in a similar occupation
Risk Class II:You are engaged in manual labour, garage or motor mechanic, machine operator, paid driver of a car, a truck, a lorry or other heavy vehicles, cash carrying employee, woodworking machinist, or you are a Builder, Contractor, Engineer superintending functions, veterinary doctor, or engaged in a similar occupation.
Risk Class III:You are working in underground mines, in explosive magazines or in electrical installations with high tension supply, or you are a Jockey, Circus personnel, engaged in racing wheels or horseback, big game hunting, mountaineering, winter sports, skiing, ice-hockey, river rafting, polo or in a similar activity or occupation.
If your personal occupation is not mentioned above, please do not hesitate to ask for specific
information.
Special notes:The Policy can be issued to persons aged between 18 and 65. In case of children, they need to be aged between 5 and 19 to become eligible for coverage.
The total sum insured is normally restricted to 70 times of Insured's monthly average earnings.
The minimum premium is Rs.500
Scale of BenefitsBenefits Compensation as % of
the Sum Insured
Death 100
Loss of sight on both eyes 125
Loss of both hands 125
Loss of both feet 125
Loss of one hand and one foot 125
Loss of one eye and one hand 125
Loss of one eye and one foot 125
Other total permanent disablement 100
An arm at the shoulder joint 70
An arm above the elbow joint 65
An arm beneath the elbow joint 60
A hand at the wrist 55
A thumb 20
An index finger 10
Any other finger 5
A leg above mid-thigh 70
A leg up to mid-thigh 60
A leg up to beneath the knee 50
A leg up to mid-calf 45
A foot at the ankle 40
A large toe 5
Any other toe 2
An eye 50
Hearing on one ear 30
Hearing on both ears 75
Sense of smell 10
Sense of taste 5
In case of partial loss of one of these parts or sensory organs, we will pay a corresponding proportion. Should an accident affect parts, which are not mentioned here, then the payment depends on the degree of disability measured by a doctor on the panel of the Company.
General Exclusions: Suicide, self-inflicted injury, pregnancy or childbirth, pre-existing physical or mental defects, infections, bleeding from inner organs, aviation other than as a passenger, motor rallies, war,
civil war, terrorism or similar situations
ii.
Group Health Guard
Health Care costs are high and getting higher. Who will pay your bills if you have a serious accident or a major illness? Most of the times we are unprepared for these difficult times, emotionally, as well as financially. Bajaj Allianz's Health Guard Policy, protects you and your family in case you need expensive medical care.It also offers you cashless benefit & medical reimbursement for hospitalisation expenses.
Features
Cashless Claim settlement with the network of hospitals Proposal and application made simpler Extended Pre and Post hospitalization period Combination with other health products -Hospital cash & Critical Illness Pre-existing disease waiver if continuously insured with us for last 4 years
Benefits
No strain on pockets of insured Complete health coverage Extended financial support Comprehensive coverage Easy and less time consuming
Advantages
Option of treatment without making payments, across several hospitals. Existing disease can also be covered. Expenses covered for a longer period. Covers other expenses too. Simple documentation
iii.
Group Critical Illness
A Critical Illness plan means you can insure yourself against the risk of serious illness in much the same way as you insure your car and your house. It will give you the same security of knowing that a guaranteed cash sum will be paid if the unexpected happens and you are diagnosed with a critical illness.
The purpose of critical illness plan is to let you put aside a small regular amount now, as an insurance against all this happening. The statistics speak for themselves and if you become a part of them at least you will be sure that lack of money won't add to your problems.Bajaj Allianz, in its efforts to provide a customer centric solution is offering an insurance policy to cover to some of these critical illnesses like
Features
Very competitive premium rates Insured can opt for Sum Assured from 1,00,000 to Rs. 50,00,000 Premium paid is exempt under the Income Tax section 80 D The product is offered from 6 to 59 years Medical examination may be required in some cases based on the age and the benefit amount
opted by the proposer.
Benefits
Easy availability of money to take care of the medical expenses All related expenses for treatment is covered Most in the family can be covered Frees insured of mental anxiety / stress during difficult times Comprehensive coverage with nominal expense
Advantages
The benefit amount is payable once the disease is diagnosed meeting specific criteria and the insured survives 30 days after the diagnosis.
The insured receives the amount as lumpsum so that he can plan the treatment accordingly Expenses like donor expenses in a transplant surgery, which are not covered under normal
health insurance policy, can be paid out of the amount received under this cover both in India & abroad
Claims procedure : The insured needs to submit the claim from along with certificate from the specialist confirming occurrence of the critical illness.
iv.
Workmen's Compensation
The Indian Workmen's Compensation Act 1923 provides for the payment of compensation by the employer to his employees (for their dependents in the event of fatal accidents) if personal injury is caused to them by accidents arising out of and in the course of their employment.
Features
The maximum compensation payable is upon the following scale (as per W.C. Amendment Act 2000)
Fatal Injury - Rs.4,57,080 Permanent Total Disablement - Rs.5,48,496 Permanent Partial Disablement - According to incapacity caused Temporary Disablement - Rs. 2000 per month upto a period of 5 years
Bajaj Allianz General Insurance Company Limited policies give an employer any of the following two forms of cover :
Indemnity against the Employers legal liability to his Employees under the Indian Workmen's Compensation Act 1923, and subsequent Amendments of the said Act prior to the date of issue of the policy, under the Indian Fatal Accidents Act, 1855, and at common Law.
Indemnity against the Employers legal liability to his Employees under the Indian Fatal Accidents Act, 1855 and at common law.
In addition, the company bears the costs and expenses incurred with its written consent in the settlement of claims.
Extension
The insurance under table "A"can be extended by charging an additional premium of 50% of book rate to cover disease mentioned in part 'C' of Schedule III of Workmen's Compensation Act.
Exclusion
This insurance does not cover any interest and/or penalty which may be imposed on all insured or an insured on account of failure to comply with the requirements of the said Workmen's
Compensation Act, 1923 as amended.
v.
Group Travel Companion
Traveling Overseas ?
Whether you travel for business or pleasure, international travel involves risk. Medical treatment abroad can be expensive & one never knows, when one would require it. Having to spend for medical bills in foreign currency can be an expensive proposition. There are other difficult situations also, that one might face like loss of passport or baggage. Bajaj Allianz's Travel companion is specially designed to help you deal with situations while overseas travel.
Features
Covers medical expenses and repatriation. Covers for any delay or loss in baggage. Provides student package for students traveling abroad for studies. Family floater available.
Benefits
Spend for medical bills in foreign currency Takes care of sudden and unforeseen expenditure Takes care of expenditures in foreign land away from home Convenient and hassle free trip for the family
Advantages
Provides financial support outside the country. Can take care of any emergency purchases in case of loss / delay in baggage Covers for accident of sponsor travel of family visit in case of hospitalization of insured. Entire family can be covered under one policy
C .]
Your office is a hive of activity. Major investment, time and effort goes into building up your business. Our office package is the best way to protect your business...
