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HDFC Life and Bajaj Allianz both are one of the top life insurance providers in India. Both the companies offer comprehensive life insurance plans offering life cover from 10 to 99 years of age. The product portfolio of both of them is vast and caters to unique needs of the customers. The claim settlement ratio of HDFC Life is 99.39% whereas Bajaj Allianz has 99.02% CSR for the FY 2022-23. The companies provide benefits such as high sum assured, flexible premiums, customizable coverage, rider benefits, options for premium payment terms, maturity benefits, online discounts, non-smoker discounts and various plan options to choose from.
Number of life insurance plans and add-ons | 13 | 5 |
Entry Age (Min-Max) | 18-65 years | 18-65 years |
Policy Term | 5 to 100 years | 10-30 years |
maturity Age (Min-Max) | 23 to 60 years | 28-75 years |
Claim settlement ratio (CSR) | 99.39% | 99.02% |
Asset under managment (AUM) | 250000 Crores | 100000 Crores |
Solvency ratio | 1.9 | 6.1 |
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Coverage Amount |
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Optional Additional Riders |
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Number of term plans | 13 | 5 |
Exclusions | Suicide or self inflicted Injury | Suicide or self inflicted Injury |
Death Benefit | Yes | Yes |
Survival Benefit | Yes | Yes |
Claims procedure | Both (Online+offline) | Both (Online+offline) |
Type of the insurer | Private | Private |
Online buying facility for life plans | Yes | Yes |
Premium payment options | Single/limited/Regular | Single/limited/Regular |
Online claim facility | Yes | Yes |
Compare and buy the most suitable Life Insurance Plan from the below-mentioned IRDAI-approved Life Insurance companies.
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A plan offering spouse benefits, premium waivers, premium refunds, and death benefits. It is a flexible protection plan that adapts to your changing needs.
Unique Features
HDFC Life Saral Jeevan Bima, a term insurance plan providing flexible premium payment terms and additional rider options to customize your plan.
Unique Features
A term plan that offers all-around protection to the policyholder as it protects against 36 critical illnesses, accidental death benefits, etc.
Unique Features
This plan guarantees a return of total premiums paid upon policy survival and comes with a high sum assured.
Unique Features
This plan provides a 100% return of premium upon maturity, offers life coverage up to 80 years, and allows premium payments over 5, 8, 10, or 12 years.
Unique Features
This policy offers up to 150% return of premiums, comes in 3 variants and with critical illness and accident riders.
Unique Features
A comprehensive term insurance plan that offers protection against Death, Disease & Disability. 3 different plan options to choose from – 75 lacs, 1cr, 1.25cr.
Unique Features
A simple easy to understand pure protection term plan which comes in affordable premiums and provides death benefit to the family of the policyholder.
Unique Features
The plan provides pure term and health coverage, providing whole life cover and accidental total permanent disability.
Unique Features
A comprehensive term life insurance plan that offers level life cover at an affordable cost.
Unique Features
The comprehensive plan offers death coverage, accidental death coverage, Cancer cover benefits, and Waiver of Premium on Critical Illness Benefits.
Unique Features
A pure-risk life insurance plan designed exclusively for Type 2 diabetics with HbA1c level <=8% and pre-diabetics.
Unique Features
An increasing life cover term plan which comes with rebates on sum assured. Gives the option of payout in instalments.
Unique Features
A pure protection loan repayment term plan which comes with riders, tax benefits and limited premium payment term.
Unique Features
A pure term plan that comes with female discounts, death benefit and a high sum assured for more protection.
Unique Features
A pure-risk plan that provides level cover term assurance and accelerated terminal illness benefit. The plans gives an option of regular income or lump sum.
Unique Features
See More Life Insurance Articles
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Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.
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February 5, 2023
Asia/Kolkata