Bajaj Allianz Surrender Form – Fill Out and Use This PDF

Bajaj Allianz Surrender Form PDF Details

The Bajaj Allianz Surrender Form is a formal request document for policyholders who decide to discontinue their life insurance policy with Bajaj Allianz Life Insurance Company, headquartered at GE Plaza, Airport Road Yerawada, Pune. The form collects the policyholder's name, policy number, assignment status, and the stated reason for surrendering the policy.

There are two types of surrender available under most Bajaj Allianz plans:

• Regular Surrender: The policy has completed the minimum lock-in period (typically three years) and the full surrender value is paid out without penalty charges.
• Pre-mature Surrender: The policy is surrendered before the lock-in period ends. A reduced surrender value applies, and a surrender charge may be deducted based on the policy terms and the number of years the policy has been active.

The surrender value is calculated based on the premiums paid, the plan type, and the policy tenure. Contact your Bajaj Allianz branch or log in to the online portal to check the current estimated surrender value before submitting the request.

Documents required for the surrender process

Gather the following documents before completing and submitting the form:

• Original policy bond
• Cancelled cheque or a recent bank passbook copy (for electronic payout)
• Photo identity proof (Aadhaar card, PAN card, or passport)
• Address proof (utility bill or bank statement)
• Completed and signed surrender request form

The electronic payout methods accepted are National Electronic Fund Transfer (NEFT), Electronic Clearing System (ECS), and Direct Credit for select banks. The form includes a section to specify which payout method the policyholder prefers, along with the corresponding banking details.

If you need to update banking details before surrendering, the Bajaj Finserv Mandate Form may also be required. For updating nominee information before closing the policy, refer to the Life Insurance Beneficiary Form.