Life Insurance

Overview

Insurance Regulatory and Development Authority of India (IRDAI) vide its guidelines under IRDAI Regulations 2015 permitted entry of Banks into insurance business. As per IRDAI regulations 2015, our Bank had registered as corporate agent vide Certificate of Registration No: CA0204. Our Bank acts as Corporate Agent of the Insurer – Life Insurance Corporation of India for the purpose of soliciting and distributing insurance policies being offered by the insurer.

M/s.Life Insurance Corporation of India
M/s.Max Life Insurance Co. Ltd, and
M/s.Bajaj Allianz Life Insurance Co. Ltd

for the purpose of soliciting and distributing Life Insurance policies being offered by the above insurers.

Premium

Branches will collect the applicable premium from the policy holders and it will be remitted to the respective LIC office. In case of Max life Insurance Co. Ltd and Bajaj Allianz Life Insurance Co. Ltd, premium will be debited directly from customer account and credited to Insurance Companies Account.
No amount collected from the insured towards premium will be retained by branches. It will be forth with transferred to the Insurance Companies Account.
In the solicitation of business, we will not unilaterally represent rates of premium different from those fixed or instructed by the Insurance Companies.

Policies

We will follow up with the insurer for issuance of policies and hand them over to the Policyholders.
Policy holders are advised to scrutinize the policies immediately on receipt by e-mail or hard copy.
We will also assist to identify any errors or discrepancies and will contact the Insurer immediately for necessary correction.
No correction, alternation or modification will be made by our Bank in the policies issued by the Insurance Companies.

Claims

Any intimation of claim received by us will be immediately forwarded to the respective LIC office to facilitate commencement of claim process and handling.
The Claims will be considered for settlement strictly in accordance with the terms and conditions of the policy.
We will guide our policy holders, of claim procedures under a policy including prompt intimation of loss, submission of claim forms and documentations to establish the claim, disclosure of all material facts and compliance with requirements that may be raised by the insurer or Surveyors/investigators.
We will not charge any fee or remuneration for providing assistance related to the settlement of claims to the Policy holders.

Grievances Redressal

We accept complaints over phone or in writing or through electronic mail and/or other modes of valid communications, as the case may be from our Policy Holders.
The policy holders can register their complaints either in the “compliant register” available with branch heads or drop their complaints in the “compliant drop box” available in branches.
We will take necessary steps for redressal of grievances of our policy holders within 14 days of receipt of such complaint after providing acknowledgement of the same.

Insurance Products Offered

We are soliciting and distributing following insurance policies being offered by the insurer

(i) Life Insurance Corporation of India:

Sr. No.	Table No.	Name of Product
1	914	New Endowment
2	915	Jeevan Anand
3	917	Single Premium Endowment
4	933	Jeevan Lakshya
5	936	Jeevan Labh
6	943	Aadhaar Stambh
7	944	Aadhaar Shila
8	951	Micro Bachat
9	945	Jeevan Umang
10	920	20 Year Money Back
11	916	Bima Bachat
12	921	25 Year Money Back
13	932	Child Money back
14	934	Jeevan Tarun
15	947	Jeevan Shiromani
16	948	Bima Shree
17	849	Nivesh Plus
18	852	SIIP
19	855	Jeevan Amar
20	856	Pradhan Mantri Vaya vandana Yojana
21	850	Jeevan Shanti
22	857	Jeevan Akshay VII
23	904	Jeevan Arogya
24	905	Cancer Cover

For more details regarding LIC products please logon to www.licindia.com

(ii) Max Life Insurance Co. Ltd:

S.No	Product Name	Product_Mix
1	Max Life Guaranteed Lifetime Income	Annuity
2	Max Life Saral Pension Plan
3	Max Life Smart Wealth Annuity Guaranteed Pension Plan
4	Max Life Smart Guaranteed Pension Plan
5	Max Life Whole Life Super Plan	PAR
6	Max Life Savings Advantage Plan
7	Max Life Monthly Income Advantage Plan
8	Max Life Smart Wealth Income Plan
9	Max Life Smart Wealth Advantage Growth Par Plan
10	Max Life Smart Term Plan	Protection
11	Max Life Saral Jeevan Bima
12	Max Life Cancer Insurance Plan
13	Max Life Smart Secure Plus Plan
14	Max Life Smart Total Elite Protection Term Plan
15	Max Life Smart Fixed Return Digital Plan	Non-PAR
16	Max Life Secure Earnings & Wellness Advantage Plan
17	Max Life Smart Wealth Advantage Guarantee Plan
18	Max Life Smart Wealth Plan
19	Max Life Smart Wealth Advantage Guarantee Elite Plan
20	Max Life Fast Track Super	ULIP
21	Max Life Forever Young Pension Plan
22	Max Life Online Savings Plan
23	Max Life Flexi Wealth Advantage Plan
24	Max Life Platinum Wealth Plan
25	Max Life Shiksha Plus Super
26	Max Life Flexi Wealth Plus

(iii) Bajaj Allianz life Insurance Co.Ltd:

Traditional Plans On sale
Serial No	Name of the Product	Product Category	Product Id
1	Bajaj Allianz Guaranteed Pension Goal	Annuity Plan	335
2	Bajaj Allianz Lifelong Assure	Endowment Plan	241
3	Bajaj Allianz Young Assure	Endowment Plan	277
4	Bajaj Allianz Elite Assure	Endowment Plan	271
5	Bajaj Allianz Life Secure	Term Insurance plan-Whole Life	279
6	Bajaj Allianz Cash Assure	Endowment Plan	283
7	Bajaj Allianz Life Income Assure	Endowment Plan	299
8	Bajaj Allianz Life e-Touch Online Term	Term Insurance Plan	297
9	Bajaj Allianz Life Super Life Assure	Endowment Plan	287
10	Bajaj Allianz Life POS Goal Suraksha	Endowment Plan	309
11	Bajaj Allianz Guaranteed Income Goal	Endowment Plan	319
12	Bajaj Allianz Health Care Goal	Health	315
13	Smart Protect Goal	Term Insurance Plan	321
14	Flexi Income Goal	Traditional Plan	329
15	Saral Jeevan Bima	Traditional Plan	339
16	Saral Pension	Annuity Plan	341
17	Assured Wealth Goal	Traditional Plan	343

Unit Linked Plans On sale
Serial No	Name of the Product	Product Category	Product Id
1	Bajaj Allianz Future Gain	Unit Linked	265
2	Bajaj Allianz Life Future Wealth Gain	Unit Linked	301
3	Bajaj Allianz Life Long life Goal	Unit Linked	316
4	Bajaj Allianz Fortune Gain	Unit Linked	267
5	Bajaj Allianz Goal Based Savings	Unit Linked	311
6	Bajaj Allianz Smart Wealth Goal	Unit Linked	331
Group Non Linked Plans On sale
Serial No	Name of the Product	Product Category	Product Id
1	Bajaj Allianz Life Pradhan Mantri Jeevan Jyoti Bima Yojana	Group Term Plan from Government of India	285
2	Bajaj Allianz Group Superannuation Secure	Fund Based Group Superannuation Secure Scheme	251
3	Bajaj Allianz Group Employee Care	Fund Based Group Product	231
4	Bajaj Allianz Group Term Life	Group Term Insurance Plan	245
5	Bajaj Allianz Life Group Credit Protection Plus	Group Term Insurance Plan	233
6	Bajaj Allianz Life Group Sampoorn Suraksha Kavach	Micro Group Term Insurance Plan	305
7	Guaranteed Pension Goal	Pension	337
Group Linked Plans and Micro Plan On sale
Serial No	Name of the Product	Product Category	Product Id
1	Bajaj Allianz Life Group Employee Benefit	Unit Linked Group Insurance scheme	239
2	Bajaj Allianz Life Super Gain Group Superannuation Scheme	Unit Linked Group Insurance scheme	303
3	Bajaj Allianz Group Sampoorna Jeevan Suraksha	Group Micro Insurance Plan	333
4	Bajaj Allianz Group Sampoorna Jeevan Suraksha –OYRT	Group Micro Insurance Plan	334

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