Bajaj Allianz Life Insurance Bajaj Allianz Life Insurance is a great tool which is widely used by people to provide a basic cover for their family so that they could easily meet their critical needs and have a standard of living even when you are not around to take care of them. This is because, with the help of an effective life insurance plan, the insurance company will pay a predetermined sum of money after your death to the beneficiary as stated in the policy’s documents. You can even get the same when you are bedridden with any critical diseases. Thus, life insurance refers to be the most effective insurance plan that you must add to your investment portfolio.