Name: Term Insurance Plan
Brand: Bajaj Allianz Life Insurance Co. Ltd
Rating: 4.3 (44555 reviews)

Last updated: 2021-05-20

Claim Settlement Ratio of 99.23%^~

Life Cover + 17% Discount** + Save Tax^*!

Under Section 80C & 10(10D) of Income Tax Act, 1961^*

Get Life Cover + Save tax up to Rs 46,800^*

₹2 Cr Term Plan

@ 25/Day²

Free Health Management Services

upto ₹ 14,000 p.a.^

Disclaimer:

²Above illustration is for Bajaj Allianz Life eTouch- A Non Linked, Non-Participating, Individual Life Insurance Term Plan (UIN: 116N172V04) considering Male aged 22 years | Non-Smoker Preferred | Annual Income =>Rs. 15,00,000 per annum | Indian Resident | Policy Term (PT)– 30 years | Premium Payment Term (PPT) – 30 years | Sum Assured opted is Rs. 2,00,00,000 | Online Channel | Standard Life | 1st Year Premium is Rs. 8,469. 2nd Year onwards premium is Rs. 9,041. Total Premium Paid is Rs. 2,70,658 | Medical Rates | Yearly Premium Payment Mode | Death benefit opted is lumpsum payout and monthly instalments (Lumpsum Payout Percentage : 45, Income Payout Percentage : 55) | Premium shown above is inclusive of Online Discount only and 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.

^**5% 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, applicable only 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.

*Tax 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. Above Tax benefit is calculated considering deduction of Rs. 150,000 and applicable tax rate of 31.20%.

^Get Free Benefits up to ₹ 14,000 per year

S No.

Value Added Service

Frequency

Cost (₹)

Doctor Teleconsultations

Consultation per month
= 24 consultations per year

Average cost per session = ₹500
Total cost per year = ₹500 * 2 * 12 = ₹1200

Network Discounts
Medicines (M) - 10%, Lab Booking (L) - 10%,
In-Patient Hospitalization (P)- 5%,
Out-Patient Consultation (O) - 10%

Throughout the year

Assumption - Total Expenses of these throughout the Year	Total Discounts that can be availed throughout the year
M - ₹5,000	₹500
L - ₹5,000	₹500
O - ₹5,000	₹500
P - ₹10,000	₹500

Total per year as per assumptions

₹ 14,000

Note: The above mentioned costs are based on estimated average market price for respective services.

Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116

BJAZ-OT-EC-08343/24

CALCULATE YOUR LIFE GOAL PREPAREDNESS SCORE

Get Your Life Goals, Done!

Tailored Life Insurance Solutions for your long-term Life Goals.

Term Insurance

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Written ByPalak Bagadia

AboutPalak Bagadia

Palak Bagadia, Associate – Digital Marketing at Bajaj Allianz Life, with experience spanning content and performance marketing, recruitment, employee engagement in the BFSI industry.

Reviewed ByRosy Pathak

AboutRosy Pathak

Rosy Pathak, AVP- Product and Brand Marketing at Bajaj Allianz Life Insurance carries over 17 years of experience in Marketing and a demonstrated history of working in the insurance industry. She is skilled in Product Management, Planning and Strategy, Project Management, Marketing and Communication.

Are you ready
What is the Life Goal Preparedness Score Calculator?
What is the Life Goals Preparedness Index?
How can I achieve my life goals?
How do I select the right investment plan?
How do I know where I stand in my wealth creation journey?

Are you ready, India? Find out and improve your Life Goal Preparedness Score

India is a young country with rising incomes and soaring aspirations. Most of us have life goals which require careful financial planning and investments. These goals may be related to entrepreneurship, travel, retirement, home-ownership or child education, among others, for which you need to build a substantial corpus over mid-to-long term. At the same time, you also need to factor in the rising rates of inflation, competing financial priorities, limited savings, the volatility of markets when making investment plans. It is possible that you may be already saving towards the fulfilment of your life goals, but most of us are unaware whether we will be able to reach our goals in a given time-frame. According to the Bajaj Allianz Life-KANTAR IMRB India’s Life Goals Preparedness Survey 2023, Indians are unsure about achieving 38% of their life goals. In order to rectify this information-disparity regarding our ability to achieve our life goals, we are launching a Life Goal Preparedness Score Calculator to help you find where you currently stand and to enable you to take steps required to reach meet your financial targets.

What is the Life Goal Preparedness Score Calculator?

The Life Goal Preparedness Score Calculator helps you find your readiness to achieve your life goals depending upon a range of factors including your income, financial requirements, investment horizon, and risk appetite amongst other factors. To find out your score all you need to do is choose your life goals, and then answer a few follow-up questions. Knowing your score helps you get a holistic view of your investment options and enables you to explore changes that may help you become better prepared. You can also compare your life goal preparedness at different stages of life and see how other factors impact that. Your score will also depend upon whether you have saved enough and your investments are protected from emergencies. Knowing your current standing also helps you prevent the pitfalls of under-investment - of not making adequate allocations to ensure that each life goal is fulfilled and sufficiently protected.

What is the Life Goals Preparedness Index?

Using similar methodologies used to create this calculator, we have also created a Life Goals Preparedness Index for Indians, which is collective indicator of confidence, knowledge, and the action taken towards financial planning for their life goals. India on an average has a Life Goals Preparedness Index of 53, which indicates that there is a lot of room for improvement. So how does one go about improving their chances to fulfil their life ambitions? Nearly half of Indians feel that they have not done sufficient financial planning or lack the financial awareness to do so. Therefore, there is a need to make oneself financially literate and proactive so that you can take informed decisions. You also need to create a proper financial plan with well-defined financial milestones and investment time-frames. You should focus on minimising your debt obligations and budgeting your expenses so that you can build your corpus at an accelerated speed. Moreover, it is necessary to start saving for your life goals as early as possible and maintain an investment discipline. You can take advantage of various online investment options to automate your savings on a monthly basis.

How can I achieve my life goals?

You must constantly review and analyse your investment plan to ensure that you are on track to achieving your life goals. One of the biggest mistakes you can make is not monitoring your investment options and your preparedness. Investment and financial planning require time and attention and it is very critical to review your plan on a regular basis to take into account changing market conditions, risk profiles and priorities.

How do I select the right investment plan?

Furthermore, you also need to find the right investment plans which can give you the best possible returns, with minimum risks, for your life goals. Also, in most cases, our families and loved ones are dependent on our income to maintain their quality of life for the foreseeable future or to fulfil our collective long-term life goals. Therefore, it is no surprise that in the Life Goal Preparedness Survey, life insurance emerged as the most preferred investment option for nearly 60% of life goals. After all, life insurance is not only an investment option, but also an essential protection measure which can help families in minimizing the impact of unexpected financial vulnerabilities. Visit our website to know more about life insurance plans such as ULIP, Term Insurance, Pension Plans etc. which you can personalise according to your needs and capabilities, helping you get where you want.

How do I know where I stand in my wealth creation journey?

Whether you are a millennial at the beginning of your career, a 40-something professional, or self-employed, you will have some targets in life. But what determines how much savings is enough by a certain age, with a particular income to fulfil your life goals? When it comes to investment and financial planning, everyone seems to have an opinion about what you should be doing. However, despite all this plethora of advice, one can never be too sure where they are currently stand in their wealth creation journey. Once you know where you are, it becomes much easier to chart your course towards your destination. Thanks to the Life Goals Preparedness Index, India know where it stands. Are you ready? Find out now.

Customer Speaks

Happy with the services

I have invested in various products of Bajaj Allianz Life Insurance - I am happy with the services, returns and diversified product portfolio.

Rashmi Bhavnani

Satisfied, Trust

I am a happy customer who is satisfied with the after sales service. I have full trust in Bajaj Allianz Life Insurance Company.

Shrikant A Karande

Happy with the returns

I was introduced by my advisor to invest in Bajaj Allianz Life Insurance .I have invested in the same and am happy with the returns and services.

Kavita Goplani

Very Happy

I am a 7 year old customer of Bajaj Allianz Life Insurance and very happy about the services.

Dhruv Soni

Bajaj Allianz Life Term Insurance with tax benefit up to Rs 46,800

Buy Term Insurance

Bajaj Allianz Life Term Insurance with tax benefit up to Rs 46,800^*

99.23% Claim Settlement Ratio^~

Premium Holiday¹

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Call to Buy

1800-209-4040

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.

CIN: U66010PN2001PLC015959 | Registered Office Address: Bajaj Allianz House, Airport Road, Yerawada, Pune-411006, Maharashtra

Email: customercare@bajajallianz.co.in | Tollfree: 1800 209 7272,

Disclaimer: Images used on this website and the models photographed in them are for representative purposes only and are not indicative of anyone's personal thoughts or ideas.

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.

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Disclaimer

For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale. The terms and conditions of product/plan as contained in the Policy Document issued by the Company is available on the Web Site. The names of the Company, Products/Plans/funds do not indicate the quality and its future prospects or returns. IN ULIPs, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. Unlike traditional products, Unit linked insurance products are subject to market risk, which affect the Net Asset Values & the customer shall be responsible for his/her decision. Tax benefits are as per the prevailing Income Tax Laws including the Income Tax Act, 1961 and are subject to change from time to time. Goods and Services Tax will have to be borne by the Policyholder as per applicable rates. All other charges shall be levied in accordance with the terms and conditions of the policy.

This calculation and results displayed are based on information provided and certain assumptions about the rates of return. It is for assistance only and does not constitute an offer or solicitation. It is not intended to be and must not alone be taken as the basis for an investment decision. Kindly note that the returns are only illustrative and they are not guaranteed. The returns do not indicate the upper or lower limits of the return that you may get with your policy and the value is dependent on a number of factors including future performance. Bajaj Allianz Life Insurance Company Limited shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information reported by the calculator.

¹©2021 Morningstar. All Rights Reserved. The Morningstar name and logo are registered marks of Morningstar, Inc. The information, data, analyses and opinions ("Information") contained herein: (1) include the proprietary information of Morningstar and its content providers; (2) may not be copied or redistributed except as specifically authorized; (3) do not constitute investment advice; (4) are provided solely for informational purposes; (5) are not warranted to be complete, accurate or timely; and (6) may be drawn from fund data published on various dates and procured from various sources. Morningstar, its affiliates, and its officers, directors and employees shall not be liable for any trading decision, damage or any other loss arising from using the Information. Please verify all of the Information before using it and do not make any investment decision, except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up