
Claim Settlement Ratio of 99.23%~
Bajaj Allianz Life eTouch II covers you against death & terminal illness. It also waives your future premiums due (if any) in case of diagnosis of Accidental Total Permanent Disability or Terminal Illness (whichever is earlier)
You can pay premiums throughout the policy term, or for a limited number of years, or till your retirement (Age 60)
Exit early (after your need for cover is over) and get back up to 200% of your total paid premiums* plus underwriting extra premium as Early Exit Value, as per product terms and conditions
*Total Premium means total of all the premiums paid under the base product, excluding any extra premium and taxes, if collected explicitly. Please note that GST and cess, if any, will be collected over and above the premium under the policy.
A term insurance premium calculator is an online tool that helps you calculate the premium of your term insurance policy. The calculator is free to use and calculates the premiums instantly. Moreover, it also allows you to buy the term insurance policy directly online, saving time and effort.
The term insurance premium calculator uses basic details to find the premium. These details include the following:
Based on these details, the premium is calculated and shown. You can change the calculated premium by changing your coverage details like the sum assured, policy tenure, premium paying term and frequency, riders, etc.
A term insurance calculator helps you to calculate the premium of your suitable term insurance policy with a desired sum assured. It requires certain inputs such as your name and contact details, date of birth, annual income, gender, lifestyle habits, education qualification, occupation, etc., to offer term insurance policies suitable for you based on your inputs.
You can select the suitable term insurance plan and then choose a desired sum assured. Based on the term insurance policy and desired sum assured selected, the calculator provides insights into how much premium you would have to pay for the given sum assured, policy tenure, premium payment tenure, premium payment frequency, and benefit pay-out option. This free and easy-to-access tool assists policyholders in making informed decisions about selecting the right policy based on their family needs and meeting their financial goals.
Here are the steps to use Bajaj Allianz Life Term Insurance Calculator:
Check the details properly and agree to the terms and conditions to proceed.
A term insurance plan premium calculator is a helpful tool with various benefits. Some of these benefits are as follows:
You can use the online term life insurance calculator to calculate term life insurance coverage. The calculator uses your personal and financial details to assess the estimated coverage amount based on your needs. To use the calculator, you have to enter some details and based on those details the recommended sum assured is calculated and shown. You can choose the recommended sum assured or choose a sum assured based on your needs. The details may vary depending upon the insurers terms and conditions.
Term insurance policy with adequate sum assured is important to build a financial safety net for your loved ones. Choosing the right sum assured is crucial as it determines the financial security of your family in case of an unfortunate event. While choosing the sum assured in the term plan, analyse your working years and consider your current income, future financial obligations, debts, number of dependents and lifestyle needs. A sum assured covering these aspects ensures that your family maintains their standard of living and meets financial obligations without worry.
Some of the ways in which you can find the right sum assured of a term insurance plan are as follows1 –
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Choosing the right sum assured is vital as it directly impacts the level of financial security your family gets in your absence. An insufficient sum assured may make your family vulnerable to financial distress, while an excessively high amount can involve unnecessary premium costs and financial burdens. Striking the balance ensures comprehensive and cost-effective insurance coverage without straining your budget.
The following people may find purchasing a term plan suitable for their needs:
1. Parents
Buying a term plan may be essential if you want to secure the financial future of your children. In case of your absence, a term plan may ensure your children continue to live their lives with financial freedom.
2. Young working professionals
Your premium for a term plan may increase as you age. Hence, if you are a young earning professional, you may want to buy a term plan as soon as you can. The affordable premiums might help you avail a high life cover right from the beginning. Thus, when you have a family in the future, they will have financial security.
3. Individuals with debts
If you have any debt, you may want to ensure it does not affect your family’s financial future, by considering buying a term plan. The support provided by the term plan may help them pay off these liabilities in your absence.
The sooner you buy a term plan, the better it may be for you. The premium of a term plan depends upon various factors including age and could increase as you age. Since people can experience more health issues when they are older, leading to an increased mortality risk, they may have to pay higher premiums, too. You can use a term insurance calculator, to check how the premium changes with change in age. Hence, it may be preferable to buy the term plan when younger.
%Mr. Ajay Male, 24 years old Non Smoker Premium ₹529 monthly for 1st year ₹565 monthly from 2nd year onwards Sum Assured ₹1 Crore | *Mr. Vijay Male, 40 years old Non Smoker Premium ₹1,648 monthly for 1st year ₹1,760 monthly from 2nd year onwards Sum Assured ₹1 Crore |
The different factors to consider before using a term insurance premium calculator are detailed below:
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Smoking and occupation significantly impact premium calculations. Insurance providers consider smoking a significant risk factor due to associated health issues. Smokers typically pay higher premiums compared to non-smokers due to the increased health risks associated with smoking. Similarly, occupations involving high risk, such as those in the construction or mining industry, may attract higher premium costs due to their increased chances of accidents. Providing complete and accurate information about occupation and smoking habits ensures a realistic premium estimate.
Not using a term plan calculator may lead to incorrect estimates of premiums, resulting in inadequate coverage or financial strain. You might end up choosing a term plan that doesn't align with your financial objectives or overpaying the premiums for coverage. A calculator offers a clear picture of your premium obligations, enabling you to make an informed financial decision and ensure your family's financial security at all times.
Bajaj Allianz is known for its prompt and efficient claim settlement, ensuring hassle-free and quick disbursement of payouts to the beneficiaries. The claim settlement process at Bajaj Allianz Life Insurance is simple and involves just three steps3. Have a look -
Step | Description |
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Step 1 – Claim Reporting |
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Step 2 - Claim Processing |
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Step 3 – Claim Settlement |
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A term insurance calculator is an invaluable tool for estimating premiums and selecting the right term insurance policy. The calculator aids in decision-making, ensures adequate coverage, and provides financial security to your family. You can use a term insurance calculator to compare different term plans, adjust coverage parameters, and find the suitable term policy which fits your insurance needs and budget constraints.
Death benefit is the amount that the life insurance company provides to the beneficiary in case of unforeseen demise of the life assured during the policy tenure
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A type of life insurance policy that covers two lives under a single plan, typically taken by spouses.
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% Above illustration is for Bajaj Allianz Life eTouch- A Non-Linked, Non-Participating, Individual Life Insurance Term Plan (UIN:116N172V04) considering Male aged 24 years | Non-Smoker | Policy Term(PT)– 30 years | Premium Payment Term (PPT)– 30 years | Sum Assured opted is Rs.1,00,00,000 | Online Channel | Standard Life | 1st Year Premium is Rs. 6,348. 2nd Year onwards premium Rs. 6,780. Total Premium Paid is Rs. 2,02,968 | Medical Rates | Monthly 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.
*Above illustration is for Bajaj Allianz Life eTouch- A Non-Linked, Non-Participating, Individual Life Insurance Term Plan (UIN:116N172V04) considering Male aged 40 years | Non-Smoker | Policy Term(PT)– 30 years | Premium Payment Term (PPT)– 30 years | Sum Assured opted is Rs.1,00,00,000 | Online Channel | Standard Life | 1st Year Premium is Rs. 21,120. 2nd Year onwards premium Rs. 20,110. Total Premium Paid is Rs. 6,32,256 | Medical Rates | Monthly 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.
@Individual Death Claim Settlement Ratio for FY 2024-2025
$96.70% of non-investigative individual claims approved in one working day for FY 2023-24. 1 day is counted from date of intimation of claim before 3 PM on a working day (excluding Non-NAV days for ULIP) at Bajaj Allianz Life offices
**Solvency ratio 359% as at 31 March 2025 against IRDAI mandated 150%
# Survey conducted by Brand Equity – Nielsen in March 2020
&For details refer to press release published by CARE
BJAZ-WP-ECNF-08927/24