Detailed Steps for buying Bajaj Life Insurance Plans
You may be overwhelmed by the idea of buying life insurance in India while living in Singapore—but it’s easier than you think. With digital processes, simpler paperwork and online medical assessment, you can complete everything very smoothly without flying back home. Here’s the roadmap to buying a Bajaj Life Insurance policy –
Step 1: Choose the Plan
Life insurance is not a one-size-fits-all policy. There are different plans to pick from based on your life insurance objective and financial priorities. For instance:
- If your family’s financial protection in your absence is your primary objective, a term insurance plan will do the trick.
- If you desire assured savings, go for traditional plans such as endowment or money-back plans .
- If you’re planning for your kid’s future, you can opt for child insurance plans.
- If retirement planning is your goal, a deferred annuity plan allows you to create a post-retirement corpus.
Consider various other factors like policy duration, sum insured, premium payment period, and additional riders.
Smart tip: Invest some time in looking at the benefits of the different plans being offered at Bajaj Life Insurance. Opt for a plan y that lines up with your long-term goals without skimping on coverage.
Step 2: Submit Documents Online
After you’ve decided on a suitable life insurance plan for you, the next step is the proposal form. Here’s where your official journey kicks off. The form is accessible online, which means you can complete it straight from the comfort of your own place in Singapore – you don’t need to be physically present in India to do so.
Make sure all the required documents you submit are complete, legible, and match the information provided in your application. Pay special attention to the accuracy of spellings—especially your name—as even minor discrepancies can cause delays. If you face any problems in uploading, you can access help from the customer service.
You also have to attach a few compulsory documents with the filled form. These typically consist of:
- Copy of passport (with visa/residence permit)
- Overseas address proof
- Proof of income (such as payslips, bank statements, etc.)
- Proof of age and identity
- Recent coloured photograph as per guidelines
- NRI status proofNRI questionnaire and Travel Questionnaire
- FATCA details with TIN
- Medicals as per guidelines applicable
- PIO/OCI Card is required where applicable
Smart Tip: To make the process smoother, scan and save clear, self-attested PDF copies of all your documents —it simplifies uploading.
Step 3: Digital Medical Assessment
Once you submit your papers, the insurer will review your health record. Most life insurance companies now organise the check-up locally or conduct tele-medical evaluations to expedite the process. Depending on your age and the amount of coverage you are purchasing, you may be asked to do routine tests such as a blood test, cholesterol check, or ECG. The tests enable the insurer to know your immediate health status before delivering the policy.
Certain insurers also arrange for tests at diagnostic labs in Singapore, and the process is smooth and seamless. If you happen to be planning a trip to India soon, you can even opt for getting your tests conducted there.
Smart Tip: Various plans and sum assured need different medical tests. Before you book an appointment, ask for the complete list of medical needs so you know exactly what to anticipate, without any last-minute surprises.
Step 4: Payment in INR
Once your documentation process and medical tests are done, the underwriting reviews the proposal, if approved make the payment. Bajaj Life Insurance allows NRIs in Singapore to make premium payments in Indian Rupees (INR) through international banking channels.
You can pay using net banking, debit cards against Non-Resident External (NRE) or Non-Resident Ordinary (NRO) bank accounts or through swift transactions. Be sure that your method of payment is in compliance with FEMA so you don’t face any issues.
In order to avoid delayed or debit payment, make sure there is enough balance in the account, as the premium is accepted in INR.
Smart tip: Make use of your NRE account in case you wish the maturity proceeds to be repatriable2. Verify the premium amount, foreign exchange rate, and bank fees before the transaction—it's a one-time hassle that prevents you from getting into any kind of trouble.
Step 5: Track Your Policy via App
Bajaj Life Insurance has a mobile app and online customer portal facility, ensuring that NRIs in Singapore can remain in command—even remotely. You can download your policy document, review policy status, pay future premium, change contact information, and even place service requests using the app. The system operates 24/7, meaning you can retrieve your data at your convenience, no matter the time difference.
Smart Tip: Keep your reference number handy until your policy is issued. After that, you'll be given a policy number for your future use. You can also set app notifications or choose auto-pay to stay updated and avoid missing premium due dates.
Conclusion
Purchasing a Bajaj Life Insurance from Singapore is no longer cumbersome due to digitisation. From selecting the most suitable plan to submitting documents, undergoing medical evaluation, and paying the premium, each step can be taken online without visiting India. Give accurate information at every step and follow the company’s guidelines for quicker results. It’s safe to store copies of all documents for future reference. With the proper plan in place, you can secure your family’s future, even away from your homeland. It’s not just about protection—it’s peace of mind that comes with you no matter where you go.
FAQs
Can I buy Bajaj Life Insurance policy online while living in Singapore?
Yes, you can easily purchase the insurance online while living in Singapore. All the needful actions can be done digitally.
How do I select the right life insurance policy as an NRI in Singapore?
Begin with the identification of financial objectives—be it income protection, savings, or retirement planning. Pure protection requires a term plan. For investment along with insurance, endowment/ULIPs plans can be suitable. Look at your age, family obligations, and risk tolerance before choosing a plan.
How will I be notified if my policy is approved or rejected?
Once you submit your application, underwriting checks the application, if approved, pay the premium, you’ll receive a reference number. You can track your policy status online with it. If there are further steps such as health checks or documentation involved, the insurer will inform you in the underwriting process.
