Frequently asked questions
Insurance helps you and your family manage risks. It lets you protect your savings during emergencies. Insurance policies provide coverage against unexpected financial losses. Fundamentally, insurance is a written contract between the policyholder (the person or company that gets the policy) and the insurer (the insurance company).
An insurance policy gives you financial security during emergencies. It helps you get best-in-class facilities and coverage without worrying about the funds. Additionally, insurance policies ensure you maintain your health and life. For example, health insurance policies give you the benefit of free health check-ups that help you track your health record. Many life insurance policies allow you to save and invest, benefiting you in the long run. These plans help you earn monthly incomes and secure your and your family's future.
You can buy insurance policies after carefully considering and comparing plans offered by various insurers. After deciding which policy to buy, you can purchase the policy online or offline through registered insurance agents. Bajaj Finance Insurance Mall lets you compare and buy insurance plans of your choice online in just a few clicks.
These are the two categories of insurance policies available in India:
Under general insurance, there are several types of insurance coverage:
1. Health Insurance
2. Motor Insurance
3. Home Insurance
4. Travel Insurance
Under life insurance, some of the insurance plans available are:
1. Term Life Insurance
2. Whole Life Insurance
3. Endowment Plans
4. Unit-Linked Insurance Plans
5. Child Plans
6. Pension Plans
Bajaj Finance Limited partners with leading insurers in India to offer a range of insurance policies. You can buy from a range of health insurance, motor insurance, life insurance, savings and investments plans. Also, travel insurance, home insurance, pocket insurance, and pocket subscription plans.Bajaj Finance Limited partnering with leading insurers in India offers a range of insurance policies that include health insurance, motor insurance, life insurance, savings and investments, travel insurance, home insurance, pocket insurance and pocket subscriptions.
To know more and avail of the various plans and theirits premiums/membership fees click here.
An insurance policy gives you financial security. You can avail of the best-in-class facilities during emergency without worrying about the funds. Not only that, it also ensures you maintain your health and life.An insurance policy gives you financial security to avail of the best-in-class facilities in time of emergency without worrying about the funds. Not only that, it ensures you maintain your health and life. For example, health insurance policies give you a benefit of free health checkups that help you track your health record. Many life insurance policies allow you to save and invest, benefiting you in the long run. These plans help you earn monthly incomes and secure your and your family's future.long run by helping you earn monthly incomes or secure your and your family's future.
In cashless claims, you do not have to pay the bills in cash. The insurer takes care of the bills directly with their network service provider. You only have to visit any of the network hospitals or garages to avail of the cashless claim facility. For example, if you opt for a cashless claim facility in health insurance, your insurer will directly settle the bills with the network hospital. Similarly, in motor insurance, get repair your vehicle repaired at any of the insurer’s network garages and availget cashless services. The iInsurer settles the bills upon verifying the claim details.Cashless claims are when insurers directly settle the bills with their network partners. For example, in health insurance, you can avail of the cashless claim facility at the insurer’s network hospital. The insurer will directly settle the hospital bill with the network hospital upon successfully verifying the details. Similarly, in motor insurance, you get your vehicle repaired at any of the insurer’s network garages to benefit from the cashless services.
An iInsurance claim is a formal process wherein a policyholder raises a request with the insurance company for coverage or compensation. There are two types of insurance claims:; cashless and reimbursement. The insurer directly settles the amount with the network partner in case of a cashless claim. For reimbursement claims, the policyholder must raise a request separately. Share the relevant documents with the insurer to get reimbursed for the expenses.In a cashless claim, the insurer directly settles the amount with the network partner against the services taken. In reimbursement, the policyholder has to raise a request separately and share the relevant documents to get reimbursed for the expenses.
Non-life insurance are is general insurance that includes health insurance, motor insurance, travel insurance, and home insurance. These policies give your coverage against medical-related expenses and damages or losses caused to your asset or property.
Pocket Insurance plans are small-ticket insurance plans offered at a pocket-friendly price. Bajaj Finance offers 200+ Pocket Insurance plans at premiums starting from Rs. 19. These plans offer insure you to coverage your everyday needs.
Check the plans here.
Bajaj Finance offers 200+ Pocket Insurance plans at premiums starting from Rs. 19. These small-ticket plans offer coverage against health, travel, accident, cyber protection, and gadgets like mobile phones and laptops.
Bajaj Finance Limited has partnered with leading insurance companies in India. Our partners include Aditya Birla Health Insurance, Bajaj Allianz General Insurance, ManipalCigna Health Insurance, and Niva Bupa Health Insurance. Also, ACKO General Insurance, SBI General Insurance, and Care Health Insurance. For life insurance, we have partnered with HDFC Life Insurance and Bajaj Allianz Life Insurance. Our partners for assistance service providers are CPP Group India and Bajaj Finserv Health.
Bajaj Finance provides 300+ insurance policies in different categories like health, life, motor, travel, home and pocket insurance and subscriptions.
An insurance premium is the money/cost you pay for an insurance policy.
Claim settlement is a process in which the insurer pays the policyholder as compensation.
Certificate of insurance (COI)
This is a document issued by an insurance company that mentions the policyholder's name, effective date, coverage type, and policy limits.
Policy period is the duration between the inception and the expiry date or the cancellation date of the insurance policy.