Recharge and Pay Bills
You can pay your insurance online using the ‘Bills and Recharges' service provided by the Bajaj Finserv BBPS platform.
The Bharat Bill Payment System (BBPS) at Bajaj Finserv is a one-stop bill payment eco-system conceptualised by the Reserve Bank of India, operated by the National Payments Corporation of India.
-
Benefits of paying Insurance premium on Bajaj Finserv
- Quick and hassle-free
With the Bajaj Finserv BBPS platform, you can make your premium payment quickly and effortlessly. - Safe and secure
Bajaj Finserv provides a safe and secure payment platform. Your insurance premium payment details are secure with the platform’s robust security measures. - Multiple payment options
Bajaj Finserv offers multiple payment options, including debit card, credit card, net banking, and UPI. This allows you to choose the payment method that suits you best. - Instant confirmation
After making the payment, the platform immediately confirms the payment through an email and SMS.
Fees and charges
A convenience fee of up to 2% will be charged depending on the transaction amount and payment mode (inclusive of applicable taxes). For more information on fees and charges, click here.
Note: For failed transactions, the total amount including charges except taxes are reversed.
- Quick and hassle-free
Steps to make Insurance premium payment online on the Bajaj Finserv app
You can make Insurance premium payment online using the Bajaj Finserv app by following these steps:
- Download the Bajaj Finserv app from the Google Play Store or App Store and install it on your device
- Open the app, log in, or register if you are a new user
- Go to ‘BILLS AND RECHARGES’ and select ‘LIC/INSURANCE’ under ‘FINANCIAL SERVICES AND TAXES’ section
- Choose your insurance issuer
- Enter your policy number and DOB and click on ‘FETCH YOUR BILL’
- Select a payment method from the list of available payment options such as credit cards, debit cards, and net banking
- After choosing your preferred payment mode, enter the requested payment details
- Check the details you entered and click on 'PAY NOW’
You will receive a notification from Bajaj Finserv after successful payment.
Steps to pay Bajaj Allianz Life Insurance premium online on the Bajaj Finserv website
Here is how you can your life insurance premium online on the Bajaj Finserv website:
- Visit the Bajaj Finserv website or click on https://www.bajajfinserv.in/
- Go to the ‘BILLS AND RECHARGES’ under the ‘PAYMENTS’ section
- Under ‘FINANCIAL SERVICES AND TAXES,’ select ‘LIC/INSURANCE’
- Choose your biller from the drop-down
- Enter your loan number and click on ‘FETCH YOUR BILL’
- Select a payment method from the list of available payment options such as credit cards, debit cards, and net banking
- After choosing your preferred payment mode, enter the requested payment details
- Check the details you entered and click on 'PAY NOW’
You will receive a notification from Bajaj Finserv after successful payment.
Frequently asked questions
The process for online premium payment varies depending on your insurance company. However, the general steps involve:
Visit your insurance company's website or mobile app.
Log in to your account.
Navigate to the ‘PAYMENTS’ or ‘PREMIUM PAYMENT’ section.
Enter your policy details and choose your preferred payment method. This might include credit card, debit card, net banking, UPI, or e-wallets.
Follow the on-screen instructions and complete the payment.
Similar to paying premiums, you can usually check your policy status online. Follow the same steps as above to log in to your account and look for the ‘POLICY STATUS’ or ‘VIEW POLICY DETAILS’ section.
Downloading an insurance policy online might not be available for all companies. However, you can usually access your policy documents like policy wordings and schedules through your online account.
Your insurance company sets a due date for your premium payment. It is generally recommended to pay your premium at least a few days before the due date to avoid late payment penalties or policy lapse.
The frequency of premium payments depends on your chosen insurance plan. Some common options include:
Monthly: Payments are made every month.
Quarterly: Payments are made every three months.
Semi-annually: Payments are made every six months.
Annually: Payment is made once a year.
You can pay your insurance premium through various methods, including:
Online: This is increasingly becoming the most convenient option.
Physical payment: In some cases, you might be able to pay your premium in person at an authorised branch or agent.
Yes, Bajaj Finserv also provides other recharge services such as:
Yes, Bajaj Finserv also provides other bill payment services such as:
- Postpaid bill payment
- Loan payment
- Broadband bill payment
- Education fee payment
- Landline bill payment
