Bajaj Allianz Term Plan
Bajaj Allianz Term Insurance Plan is a non-linked, non-participating, individual, life, regular premium, pure risk premium paying term insurance plan. In this term insurance plan, if the insured person dies during the policy term, then the sum assured is provided as death benefit to the nominee by the insured person.
Through Bajaj Allianz Term Insurance Plan, the insured can secure the financial future of his/her family members even in his/her absence. In case of an accidental death of the insured person, the family members of the insured person receive the sum assured in the form of financial assistance through which they can meet all their liabilities without any hindrance.
Bajaj Allianz Term Insurance Plan gives you the benefit of term insurance coverage at very low premiums. You can get life cover for the entire life (100 years) through Bajaj Allianz Term Insurance Plan.
Features And Benefits Of Bajaj Allianz Term Plan
Following are the features and benefits of Bajaj Allianz Term Plan :
- Financial Protection:
Through Bajaj Allianz Term Plan, a person can secure the financial future of his family even in his absence. You might be the only earning member in your family and your family depends on you for the monthly income. In case of your sudden death, it may be difficult for your family members to survive in this situation.
In this situation a Bajaj Allianz term insurance plan can help you out. With the help of Bajaj Allianz Term Insurance Plan, in case of your accidental death, your family members are provided with a sum assured amount of money through which your family members can easily meet their daily expenses.
- Low Premiums:
The most salient feature of Bajaj Allianz term plan is that it offers you maximum term coverage at very low premiums. It tries to take Bajaj Allianz term plan to the common man as well by offering you term insurance coverage at a very affordable rate.
You can also get term insurance coverage of up to ₹1 crore at low premiums through Bajaj Allianz term insurance plans. For this, you have to pay a very low minimum premium.
- Long Term Coverage:
You can avail long term term plan coverage through Bajaj Allianz term insurance plans. It also offers you term coverage for whole life. If you want, you can also opt for term plan coverage till the age of 100 years.
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- Add-On Riders:
You also get the option of adding riders to the Bajaj Allianz term insurance plan. You can further enhance the coverage of your term insurance plan by adding riders. There are a variety of riders offered by Bajaj Allianz term insurance plans which you can add to your term insurance plan on payment of an additional premium.
In this you get the option to add the following riders-
- Accidental Permanent Partial/Total Disability Rider,
- Critical Illness Rider
- Waiver of Premium Benefit Rider,
- Family Income Benefit Rider
- Accidental Death Rider.
- Tax Benefits:
You also get tax benefits in Bajaj Allianz term insurance plans. You are eligible for the benefit on the premium paid under section 80C of the Income Tax Act, 1961 while on the death benefit you can apply for exemption under section 10(10D) of the Income Tax Act, 1961.
- Free-look Period:
In Bajaj Allianz term insurance plan, you get a free look period of 30 days. If you are not satisfied with the Bajaj Allianz term insurance policy, you can choose to exit the policy within these 30 days. If you exit the policy, the premiums paid by you are returned to you. However some charges are deducted.
- Grace Period:
In Bajaj Allianz term insurance plan, you get a grace period of 30 days. If you are not able to pay your premium on time, then you are given an additional time of 30 days. If you pay your premium on this day within 30 days then your policy continues otherwise your term insurance policy ends.
Bajaj Allianz Term Plan
The following are the term plans offered by Bajaj Allianz :
- Bajaj Allianz Life Smart Protect Goal
- Bajaj Allianz Life eTouch Online Term
- Bajaj Allianz Life Secure
- Bajaj Allianz Lifestyle Secure
- Bajaj Allianz iSecure
- Bajaj Allianz iSecure More
- Bajaj Allianz iSecure Loan
- Bajaj Allianz Saral Life Insurance
1. Bajaj Allianz Life Smart Protect Goal
Following are the features and benefits of this term insurance plan-
(i) This term insurance plan provides coverage of term insurance plan to the life assured till the age of 99 years.
(ii) In case of death of the life assured during the policy term, a minimum sum assured of ₹ 50 lakh is provided to the nominee by the life assured.
(iii) Generally you do not get any kind of maturity benefit in term plan. But in this you get the option of return of premium . You can receive all the premiums you have paid on completion of the policy term.
(iv) You also get the option of increasing the coverage by adding riders in this term insurance plan. You can add the following riders to it on payment of additional premium-
- Accidental Death Benefit (ADB)
- Accidental Total Permanent Disability Benefit (ATPDB)
- Critical Illness Benefit (CIB)
- Waiver of Premium Benefit (WOPB)
(v) In this you get the option of paying single, limited and regular premium as premium payment option.
(vi) To get this plan, the minimum age should be 18 and the maximum age should be 65 years.
- Bajaj Allianz Life eTouch Online Term
Following are the features and benefits of Bajaj Allianz Life eTouch Online Term-
(i) This term insurance plan is available in four variants in which you get different coverage. You can choose any type as per your requirement.
Bajaj Allianz Life eTouch Online Term Plan is available in the following four variants-
a)Shield
b) Shield Plus
c) Shield Super
d) Shield Supreme
(ii) In this plan, a minimum death benefit of ₹ 50 lakh is provided to the nominee of the life assured in case of death of the life assured during the policy term.
(iii) This term insurance policy is available for a minimum period of 10 years to a maximum period of 40 years.
(iv) In this plan you get the option of paying premium annually, half yearly, quarterly and monthly.
(v) In this you get a free look period of 30 days and a grace period of 30 days.
(vi) In this you get tax benefit under section 80C and 10 (10D) of the Income Tax Act, 1961.
(vii) Minimum age should be 18 years and maximum age should be 65 years to get this term insurance plan.
- Bajaj Allianz Life Secure
Following are the features and benefits of Bajaj Allianz Life Secure-
(i) In this term plan you get term insurance coverage for whole life i.e. till the age of 100 years.
(ii) The minimum sum assured to be received in this is Rs 20 lakh and no limit has been set for the maximum sum assured.
(iii) The plan gives you the option to enhance your coverage by adding riders. In this you get the option to add the following riders-
Accidental Death Cover
Accelerated Critical Illness Cover
Waiver of Premium Benefit
(iv) You get this term insurance plan for 5, 7, 10, and 15 years. You can choose any of these policy terms.
(v) In this you get a grace period of 30 days and a free look period of 15 days.
(vi) The minimum age to buy this plan should be 25 years.
(vii) Yearly, half-yearly, quarterly and monthly options are available for premium payment.
- Bajaj Allianz Lifestyle Secure
Following are the features and benefits of Bajaj Allianz Lifestyle Secure-
(i) This plan is designed for people who want a term plan to maintain the lifestyle of their family members.
(ii) You get this term plan for a period of 5 years to 20 years.
(iii) The minimum sum assured received in this is ₹ 3 lakh and the maximum sum assured is ₹ 15 lakh.
(iv) In this you get yearly, half-yearly, quarterly and monthly option of premium payment.
(v) The minimum age for this plan should be 18 years and maximum 50 years.
(vi) In this you also get the option of free look period and grace period.
(vii) In this you are also provided with tax benefits as per the Income Tax Act, 1961.
- Bajaj Allianz iSecure
Following are the features and benefits of Bajaj Allianz iSecure-
(i) In this term insurance plan, the minimum sum assured is 25 lakhs and the maximum sum assured is 50 lakhs.
(ii) To get this plan, the minimum age should be 18 years and the maximum age should be 65 years.
(iii) In this you get the policy term for 5, 10, 15, 20, 25 years. You can choose any policy term as per your requirement.
(iv) In this you get yearly, half-yearly, quarterly and monthly option for premium payment.
(v) In this plan, the minimum maturity age is 28 years and the maximum maturity age is 85 years.
- Bajaj Allianz iSecure More
Following are the features and benefits of Bajaj Allianz iSecure More-
(i) In this term insurance plan, you get the minimum sum assured of ₹ 2.5 lakh while no limit has been set for the maximum sum assured.
(ii) Your term coverage increases by 5% on every policy anniversary in this term insurance plan.
(iii) You can also avail the Joint Life Cover benefit in this plan. You can add this plan to yourself or your spouse.
(iv) In this plan you get the option of adding riders through which you can increase your term cover further.
(v) In this you get the policy term for premium payment for 10, 15, 20 and 25 years. You can choose any of these as per your requirement.
(vi) You get the option of paying monthly, quarterly, half-yearly and annually as premium payment mode.
(vii) Tax benefits under section 80C and 10(10D) of Indian income tax laws Indian Income Tax Act, 1961 are also available.
(viii) Minimum age should be 18 years and maximum age should be 60 years to get this term insurance plan.
- Bajaj Allianz iSecure Loan
Following are the features and benefits of Bajaj Allianz iSecure Loan-
(i) In this plan, on the death of the life assured, a minimum amount of ₹ 3 lakh is received as death benefit. There is no limit on the maximum sum insured.
(ii) In this plan you get a policy term of 10, 15, 20 and 25 years.
(iii) In this plan you get the option of paying limited premium. You can avail this term plan by paying 2/3rd of your policy term.
(iv) In this plan you get the option to enhance your term plan coverage by adding riders.
(v) In this you also get the option of adding joint life cover.
(vi) To get this plan, the minimum age should be 18 years and the maximum age should be 60 years.
- Bajaj Allianz Saral Life Insurance
Following are the features and benefits of Bajaj Allianz Saral Life Insurance-
(i) This term insurance plan provides a minimum sum assured of ₹5 lakh and a maximum of ₹25 lakh in case of death of the life assured.
(ii) In this plan you get the plan term from 5 years to 40 years.
(iii) This term insurance plan offers affordable term insurance coverage at low premiums. Therefore, the common man can also take advantage of a term insurance policy through this.
(iv) In this you get the option of monthly, half-yearly, yearly and single premium payment for premium payment.
(v) To get this plan, the minimum age should be 18 years and the maximum age should be 65 years
Bajaj Allianz Term Plan Eligibility
Eligibility for Bajaj Allianz Term Plan is as follows-
- The minimum age of the customer should be 18 years.
- The maximum age may vary for different plans.
- Medical examination will have to be done.
Documents Required For Bajaj Allianz Term Plan
The documents required for Bajaj Allianz Term Plan are as follows-
ID proof
age proof
Address proof
income proof
latest picture
Bajaj Allianz Term Plan Premium
Bajaj Allianz term insurance plans provide multiple modes of premium payment as per the convenience of the customers. In this you get options like single premium payment, limited premium payment etc.
You can continue with your Bajaj Allianz term insurance plan by choosing to pay the premium payments for your term plan annually, half-yearly, quarterly, or monthly.
How To Buy Bajaj Allianz Term Plan?
You can buy Bajaj Allianz term insurance plan both online and offline as per your convenience.
If you want to buy Bajaj Allianz Term Plan through online medium, then for this you have to visit the official website of Bajaj Allianz. By visiting the official website, you can easily buy any Bajaj Allianz term plan by going to the term plan section.
To buy Bajaj Allianz term plan offline, you need to visit your nearest Bajaj Allianz branch. You can easily buy it there.