In summary

Bajaj Life Insurance offers online renewal premium payments through credit cards, debit cards, net banking, UPI, EMI on selected banks and QR codes. You can also pay through branches, tied-up banks and outlets or register an auto-pay mandate.

• Online payment: You can use a credit card, debit card, net banking or UPI. The insurer also lists e-wallets, EMI on selected cards and QR-code payment among its payment options.
• Auto-pay: You can register an automatic premium debit through a bank account, UPI or credit-card standing instruction, subject to the applicable eligibility and mandate conditions.
• Bajaj Finance: You can use the Bajaj Finance app to select Bajaj Life Insurance as the biller, enter your policy details, fetch the bill and complete the payment through the payment method shown on the platform.
• Payment records: Bajaj Life Insurance provides a renewal receipt download facility through its digital services.
• Bajaj Finance charges: A convenience fee of up to 2% may apply depending on the transaction amount and payment mode, including applicable taxes.

Keep your policy number and date of birth ready when using a payment journey that asks for these details.

You can pay your Bajaj Life Insurance renewal premium through credit card, debit card, net banking, UPI or EMI on selected banks. You can also pay life insurance premiums through the BBPS platform on Bajaj Finance. Bajaj Pay provides another online payment route through the Bajaj Finance website or app. Bajaj Life Insurance also provides online premium-payment services, allowing policyholders to make payments without visiting a branch.

Bajaj Life Insurance also provides auto-pay facilities through bank-account mandates, UPI mandates and credit-card standing instructions for eligible policies. This lets you set up automatic premium deductions instead of making each renewal payment manually.

Bajaj Finance also provides a BBPS-based payment facility for insurance premiums. The platform displays the bill before payment, allowing you to check the premium amount and policy details before completing the transaction.

For policy servicing beyond premium payment, Bajaj Life Insurance provides Life Assist, its mobile app and WhatsApp servicing. These channels can be used for activities such as viewing policy information, managing service requests and accessing renewal receipts.

1. Term insurance plans

These term insurance plans provide pure life cover for a specified policy term. They offer high coverage at affordable premiums, helping provide financial protection to your family and cover financial obligations.

2. ULIP plans

ULIP plans, or Unit Linked Insurance Plans, combine life insurance with market-linked investment options. Depending on the plan, you can allocate your investment to equity, debt or balanced funds, with returns linked to the performance of the selected funds.

3. Endowment plans

Endowment plans combine life cover with savings and provide a maturity benefit according to the policy terms. Endowment plans can help you plan for medium- to long-term financial goals while providing life insurance protection during the policy term.

4. Child insurance plans

Child insurance plans are designed to help plan for a child's future financial needs, such as education. These plans can provide financial support for the child's goals while offering life cover under the policy structure.

5. Retirement pension plans

Retirement pension plans are designed to help build a corpus for your post-retirement years and may provide structured payouts according to the policy terms. These plans can support long-term retirement planning alongside life cover.

The convenience fee applies to premium payments made through the Bajaj Finance platform and should not be treated as a general Bajaj Life Insurance policy charge. For more information on fees and charges, click here.

Note: For failed transactions, the total amount including charges except taxes are reversed.

However, late payment and policy status should not be treated as the same issue. Bajaj Life Insurance also states that the applicable grace period depends on the premium frequency: 15 days for monthly premiums and 30 days for quarterly, half yearly and yearly premiums.

If you have missed a due date, check the policy status and applicable payment amount before making the payment.

1. Open the Bajaj Finance app and log in or register.
2. Go to Bills and Recharges.
3. Select LIC/Insurance under Financial Services and Taxes.
4. Select Bajaj Life Insurance as the issuer.
5. Enter your policy number and date of birth, then select Fetch Your Bill.
6. Choose an available payment method.
7. Enter the required payment details.
8. Check the details and select Pay Now.
9. Save the payment confirmation for your records.

The current Bajaj Finance payment page confirms this app journey for Bajaj Life Insurance premium payments.

You can pay your Bajaj life insurance premium through the Bajaj Finance website by selecting Bajaj Life Insurance as the biller, entering your policy details and fetching the bill before making the payment.

Follow these steps:

1. Visit the Bajaj Finance website or click on https://www.bajajfinserv.in/
2. Go to Bills and Recharges under the payments section.
3. Select LIC/Insurance under Financial Services and Taxes.
4. Select Bajaj Life Insurance from the biller list.
5. Enter the required policy details.
6. Select Fetch Your Bill.
7. Choose an available payment method.
8. Enter the requested payment details.
9. Check the payment information and select Pay Now.
10. Save the confirmation after the payment is completed.
     

The payment options and website flow can change as the platform is updated, so follow the labels shown on the payment page when you make the transaction.

Via Bajaj Life Insurance website

To complete your Bajaj Life Insurance premium receipt download, follow these steps:

1. Visit the Bajaj Life Insurance website and log in to your customer account.
2. Go to ‘My Account’ or the relevant policy-servicing section.
3. Select ‘PAYMENT HISTORY’ and locate the completed premium payment.
4. Select the receipt option to view or download the payment receipt.

Via Bajaj Finance app

If you paid through Bajaj Finance:

1. Open the Bajaj Finance app and log in.
2. Go to ‘Bajaj Pay’ and select ‘Passbook’.
3. Find your premium payment under ‘Bills and Recharges’.
4. Select ‘VIEW’, then select ‘Download’ to save the receipt.

Keep the downloaded receipt for your payment records and future reference.

After payment, save the confirmation or download the premium receipt for your records. If you use auto-pay, check that your registered mandate and payment details are active so future premiums can be processed on time.