Compare Term Insurance
Bajaj Allianz Life Smart Protection Goal vs LIC New Tech Term
View detail comparison
Bajaj Allianz Life Smart Protection Goal with similar Term Insurances
LIC New Tech Term with similar Term Insurances
Compare Bajaj Allianz Life Smart Protection Goal and LIC New Tech Term
Claims Track Record:
Bajaj Allianz Life Smart Protection Goal
Bajaj Allianz Life Insurance Company has a good claim settlement track record with relatively fewer customer complaints, compared to other insurers. The company has settled 99.91% of their claims within 30 days. Their claim settlement ratio is 99.04% and their claim amount settlement ratio is 93.45%. They have a dedicated online claim tracking system and a toll-free number to handle any queries or concerns during claims. They also have a short claim form. However, they don’t provide a personal relationship manager for claims and home pick-up of claims.
LIC New Tech Term
Life Insurance Corporation of India boast an impressive 97.95% claims settlement rate within 30 days, with fewer claim complaints compared to other insurers. Life Insurance Corporation of India’s claim settlement ratio stands at 98.52%, and their claim amount settlement ratio is 96.02%. Additionally, their claim application process is streamlined with a short claim form. However, they do not provide a dedicated personal relationship manager for claims, a home pick-up service for claims documents, and toll-free support for claim-related inquiries. Furthermore, there is no online claim tracking facility available.
Service Experience:
Bajaj Allianz Life Smart Protection Goal
You can contact Bajaj Allianz Life Insurance Company via their toll-free telephone number or Twitter for any questions or concerns. As per our research, the response time on toll-free is quick and Twitter is slow, compared to other insurers. So, you and your family can expect prompt resolutions to any issues if their toll-free number is contacted.
LIC New Tech Term
Life Insurance Corporation of India provides customer service via their toll-free number and Twitter. According to our research, their Twitter response rate was slow, while their toll-free service was quick, compared to other insurers. If you or your family have any questions or concerns, call their toll-free number to receive a prompt response.
Product Benefits:
Bajaj Allianz Life Smart Protection Goal
Bajaj Allianz Life Smart Protection Goal offers many customization options to best suit your financial needs and goals. It offers coverage for up to 85 years. It offers various limited payment options, ranging from 5, 10, 15, 20 and Pay till 60 years. Based on your convenience, the premium can be paid monthly, quarterly, half-yearly, or annually. The plan offers only a one-time lump-sum claim payout option and it doesn’t offer an increasing cover feature. Bajaj Allianz Life Smart Protection Goal offers a Critical Illness Rider. It is an optional add-on designed to enhance your base coverage at a certain extra cost.
LIC New Tech Term
LIC New Tech Term provides a range of flexible customization options. One of the notable features is the Increasing Cover option, which gradually raises your coverage by 10% each year until it becomes double the base policy cover. This increase in coverage starts from the 6th year of the policy. The LIC New Tech Term policy offers a life cover up to the duration of 70 years with various limited payment options - (Policy term - 5) and (Policy term - 10). And, the premiums are payable either half-yearly or annually. When it comes to payout options, you can choose between a lump sum payment and monthly instalments. LIC New Tech Term provides only one rider - Accidental Death Benefit Rider. You can include this rider to your base policy to enhance its coverage.