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Premium Paid Online, Policy Not Issued
Assistance for Policies bought from website.
Monday to Saturday: 9:00 AM to 7:00 PM (IST)
5%
Discount
For First time Life Insurance buyers3
6%
Discount
For Online Purchase3
1%
Discount
For Auto-Debit Process3
5%
Discount
For Salaried Customers3
Number Of Lives Covered#
AAA; Stable Rating By CARE$
Claim Settlement Ratio Of 99.23%~
Amount of Individual claim paid from FY 2006-07 to FY 2023-241
Total Assets Under Management (AUM)**
Accidental Death Benefit2
Accidental Death Benefit will be Extra payout in case of death due to accident
Exit Early Option%
Get back your paid premiums as Early Exit Value (after your need for cover is over)
Premium Holiday
This option helps you to skip your premiums for 1, 2 or 3 years during the premium payment term
Waiver of Premium Benefit on Accidental Total Permanent Disability/Terminal Illness&
If Accidental Total Permanent Disability / Terminal Illness is diagnosed, premiums are waived off during the policy term
Avail Tax benefits6
Tax Benefits available on what you pay & what you or your family receive, as per Income Tax Act
01
Choose your Sum Assured: Decide on the level of protection by choosing the sum assured you need to safeguard your family's future.
02
Choose your Death Benefit Payment option: Select how your family will receive the Death Benefit in your absence. A one-time lump sum or Partly as Lump sum & partly as monthly income for 5 / 10 / 20 / 30 / 40 years and monthly income for 5 / 10 / 20 / 30 / 40 years.
03
Choose your Policy Term and the Premium Payment Term (as applicable) Select the period for which you want to get life insurance protection and the period for which you want to pay the premium.
04
Choose your Premium Payment Frequency: Depending on your convenience you can decide the interval at which you would prefer to pay the premium during the premium payment term.
Helpful Best Policy
The reason to choose Bajaj Allianz life insurance is because of the claim settlement ratio and the easy after sales support which Bajaj Allianz life insurance provides. The process is speedy and the customer support provides 360 information on term insurance policy. All the term insurance variants were well explained by the Bajaj team with or without accidental death benefit and critical illness benefit.
Ankurjit Singh
I was completely new to the life insurance products that are available in the Life insurance industry. Bajaj Allianz Life Insurance has helped me in making the term plan product easily understandable . Quick Policy Issuance and Claim Settlement Ratio were the main reasons to buy term plan. I am happy with the overall experience and support.
Rahul Kumar
Bajaj Allianz Life Insurance provides a seamless experience when it comes to buying term plan. The customer representative explained the term plan product to me in my native language and the doubts regarding Claim Settlement Ratio, Term Premium calculator, Term Plan Premium Payment terms and Exit value. I was completely unaware about the checklist to have while buying term plan but Bajaj Allianz Life Insurance made it very easy , fast & trustworthy process
Aneri Dudhia
Helpful Best Policy
Bajaj Allianz Life Insurance Policy purchase journey is quite smooth and fast for buying term plan. Health Check-up and medicals happened quickly and timely. The support team also guides me at each and every step for buying the term plan. All the term plan variants were explained by the sales team and what is recommended as per my income level.
Nandkumar Permumal
Recent Photograph
Photo ID Proof
(Any One)
Age proof
(Any One)
Address proof
(Any One)
Income Proof
(Any One)
Recent PhotographPhoto ID ProofAge proofAddress proofIncome ProofA term insurance plan is a simple form of life insurance. Term plans do not have an investment component and hence provide no maturity benefits. The policyholder pays premiums to the insurance company and the insurer in return promises to pay a pre-decided amount to the nominees in the event of the policyholder’s death.
Since term plans do not provide maturity benefits, the plan simply terminates at the end of the policy term. Many customers have expressed their concern on losing out of money if there are no claims made during the tenure of the term insurance plan. To address this Life Insurance companies also offer Term insurance plans with ‘Return of Premium' option. It means that if the policy holder survives the policy term, then the life insurance company returns the premiums paid towards the policy, subject to certain deductions, depending upon the terms and conditions of the policy.
Click to read more about Term Plans.
Term insurance coverage may vary according to age. It should be calculated after taking into account the debt, assets and life goals of the family during that particular time. You can use the term insurance calculator as an indicator to get a better idea of your term insurance coverage requirements. However, it is always best to analyse your needs and current lifestyle before deciding the coverage amount required to secure your family’s life goals.
It is good idea to buy a term insurance plan when you are young. The premiums of term insurance are low when the individual is young as young people have a lower chance of contracting life-threatening diseases or death, thus lowering the risk for the insurer. A decision taken early can help you save a sizeable premium over the years simply because you acted on time as the premium in an insurance plan is fixed for the entire duration. The sooner, the better.
Click to read more about Term Plans.
You will need a recent photo, identity and address proof, age proof, proof of income and medical reports to buy a term insurance plan.
The requirements may vary and additional documents may be sought depending on underwriting assessment.
Click to read more about Term Plans.
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz Life eTouch are the names of the company and the product respectively and do not in any way indicate the quality of the product and its future prospects or returns. For more details on risk factors, terms and conditions please read sales brochure & policy document (available on www.bajajallianzlife.com) carefully before concluding a sale. Bajaj Allianz Life eTouch- A Non Linked, Non-Participating, Individual Life Insurance Term Plan. Regd. Office Address: Bajaj Allianz House, Airport Road, Yerawada, Pune - 411006. IRDAI Reg. No.: 116. CIN : U66010PN2001PLC015959 | Mail us : customercare@bajajallianz.co.in | Call on : Toll free no. 1800 209 7272 | Bajaj Allianz Life eTouch (UIN: 116N172V03), The Logo of Bajaj Allianz Life Insurance Co. Ltd. is provided on the basis of license given by Bajaj Finserv Ltd. to use its “Bajaj” Logo and Allianz SE to use its “Allianz” logo. All charges/ taxes, as applicable, will be borne by the Policyholder.
**Get Free Health Management Services upto Rs. 14,000 per year
| S No. | Value Added Service | Frequency | Cost (₹) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Doctor Teleconsultations | Consultation per month = 24 consultations per year |
Average cost per session = ₹500 Total cost per year = ₹500 * 2 * 12 = ₹1200 |
||||||||||
| 2 | Network Discounts Medicines (M) - 10%, Lab Booking (L) - 10%, In-Patient Hospitalization - 5%, Out-Patient Consultation (O) - 10% |
Throughout the year |
|
||||||||||
| Total per year as per assumptions | ₹14,000 | ||||||||||||
Note:The above mentioned costs are based on estimated average market price for respective services.
35% Discount applicable for customer's first individual life insurance policy, applicable only on first year’s premium. 5% Discount for salaried customers, applicable only on first year’s premium. 6% Discount on online purchase is available for regular premium payment and limited premium payment frequency on first year’s premium. 1% Discount will be available for all policies where premium payment is under auto-debit process (as allowed by RBI from time-to-time) through-out the premium paying term.
^^Above illustration is considering Male aged 25 years | Non-Smoker | Policy term (PT)– 30 years | Premium Payment Term (PPT) – 30 years | 1st year premium is Rs 546/ month. 2nd year onwards premium is 583/month. Total Premium Paid is Rs 2,03,430 | Sum Assured opted is Rs. 1,00,00,000 | Online Channel | Standard Life | Medical Rates | Monthly Premium Payment Mode | Death Benefit opted is lumpsum payout and monthly instalment (Lumpsum Payout percentage:45,Income Payout percentage:55) | Premium shown above is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws, and any extra premium and is for illustrative purpose only.
2Accidental Death Benefit is available with Life Shield Plus variant
#Individual & Group as on 31st March 2024
&Waiver of Premium Benefit On Accidental Total Permanent Disability/Terminal Illnessis available for all variant
6Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.
%Early Exit Value is available with Life Shield & Life Shield Plus variants
~ Individual Death Claim Settlement Ratio for FY 2023-2024
**All figures as on 31 January, 2024
1Source: Bajaj Allianz Life Public Disclosure
$For details refer to press release published by CARE
BJAZ-OT-EC-07104/24