If you often forget parent teacher meeting dates, then you may also be missing out on other important events such as your life insurance policy’s renewal. A lapsed policy will not provide you with benefits upon maturity when you need them. Timely renewal of your life insurance provides an opportunity to extend coverage before your existing policy lapses.
Opt for the hassle-free Auto Pay feature by Bajaj Allianz Life to make all payments automatically and never miss out on renewal again. Visit [ Ссылка ] for more details.
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To ensure that you never miss another life insurance premium renewal payment, you can opt for Auto Pay mode of Bajaj Allianz policy premium renewal. You can register for Auto Pay either on your bank account or Credit card. Each time your premium is due, the amount would be automatically debited from your bank account/credit card. You should keep handy bank account details and net banking credentials for registration process.
Benefits of Auto Pay policy premium mode
• Near real time registration
• Hassle-free
• Paperless method
Step by step guide for Auto Pay Registration
• Enter Bajaj Allianz Life Policy Number and Date of Birth under Register for Online Mandate section
• Click on View Premium Details tab to view policy details
• Click on Register for Online Mandate
• Select Bank from the drop down list
• Enter Bank account number to authenticate your details, and click on Pay
• Fill up credentials and proceed for registration
• Upon successful authentication from Bank, your registration will be done by Bajaj Allianz Life
• Once registered, a message will appear on your screen stating "Your Registration Process has successfully been completed against Reference Id: XXXXXXXXXXXX"
• All future premiums will be paid as per the due date mentioned
Here are drawbacks of non-renewal of a life insurance policy.
• If you fail to renew your life insurance plan on time, your insurance will not stand and if something happens to you during that time, your family will not receive the stipulated lump-sum benefit.
• When you buy a life insurance, you pay the insurer a regular amount called premium. Many factors such as your age, height, medical history, and income are taken into consideration before zeroing in on your premium amount. While you can renew the policy at a later stage, it is expensive and can involve you paying interest as well. Do not suffer a financial setback by failing to renew your policy.
• Failure to renew your life insurance policy indicates that you lose out on life insurance tax benefits.
Having life insurance policy, especially the one for your life and health, is one of adult life’s hallmarks. It is a sign that you care for yourself and your loved ones and take steps to secure their future. Renewing your life insurance is not a long process, you can leave Bajaj Allianz Life policy renewal premiums on Auto Pay —it is quick & hassle free.
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