Claim Settlement Ratio of 99.23%~

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5 Crore Term Insurance

Term insurance plans help you secure the financial future of your family in your absence. They protect against the risk of premature demise and help create financial security. Term insurance plans offer optimal sum assured levels and you can choose a coverage which matches your financial needs. A ₹5 crore term insurance plan is one such plan which allows high coverage and can be considered if you need optimal protection against unforeseen emergencies.

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*Above illustration is for Bajaj Allianz Life eTouch II- A Non-Linked, Non-Participating, Individual Life Insurance Term Plan (UIN: 116N198V01) considering Male aged 23 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. 5,00,00,000 | Online Channel | Standard Life | 1st Year Premium is Rs. 14,941. 2nd Year onwards premium is Rs. 16,196. Total Premium is Rs. 4,84,625 | Medical Rates | Yearly Premium Payment Mode | Death benefit opted is lumpsum payout and monthly instalments (Lumpsum Payout Percentage : 40, Income Payout Percentage : 60). Income payout instalment opted for 40 years | Premium shown above is inclusive of Online Discount only, no other discounts have been considered 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. 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.

**The output generated through calculator are on the basis of the data inputted by you and is being provided to you solely for your reference purpose and not to be construed as investment advice. Please seek independent advice from your insurance consultant before making any investment decisions. While proper caution has been taken in designing this calculator, Bajaj Allianz Life Insurance Co. Ltd. assumes no liability for the accuracy of the information and data provided in this tool.

##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%.

@Term Insurance plan bought online directly from Bajaj Allianz Life Insurance has no commissions involved.

^^Get Free Health Management Services upto Rs. 31,000 per year

Health Management ServicesFrequencyCost (₹)
Doctor Insta-Consultations3 consultations per month = 36 consultations per yearAverage cost per session = ₹500
Total cost per year = ₹500 * 36 = ₹18,000
Health Coach (Diet & nutrition consultations)1 consultation per month = 12 consultations per yearAverage cost per session = ₹500
Total cost per year = ₹500 * 12 = ₹6,000
Emotional Wellness (Psychologist consultations)1 consultation per month = 12 consultations per yearAverage cost per session = ₹500
Total cost per year = ₹500 * 12 = ₹6,000
Network discounts:Throughout the yearAssumption – Total expense on these services throughout the year
Medicines (M) - 10%: ₹5,000
Lab-test booking (L) - 10%: ₹5,000
Total discounts that can be availed throughout the year:
M - ₹500
L - ₹500
Total per year as per assumption₹31,000

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

Doctor Insta-Consultations and Health Coach Services are unlimited and the above numbers are assumed only for the purpose of calculation of the yearly benefit.

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

Discover the most Suitable Term Insurance Plan for you!

Tailored Term Plans Solutions for your long-term Goals.

Writer Palak
Written ByPalak Bagadia
AboutPalak Bagadia
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Palak Bagadia, Associate – Digital Marketing at Bajaj Allianz Life, with experience spanning content and performance marketing, recruitment, employee engagement in the BFSI industry.
Writer Ritu
Reviewed ByRituraj Singh
AboutRituraj Singh
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Rituraj Singh,With over 6.5 years of experience in the insurance industry, Rituraj Singh, Manager- Product & Brand Marketing at Bajaj Allianz Life Insurance overlooks new product launches, compliance, and brand projects, leveraging artificial intelligence and technology to enhance outcomes.
Written on: 5th January 2025
Modified on: 14th January 2025
Reading Time: 20 Mins

What is a ₹5 crore Term Insurance Plan?

A ₹5 crore term insurance plan is a life insurance policy which has a sum assured of ₹5 crores. This sum assured is usually paid as the death benefit if the insured passes away during the tenure of the policy. The plan offers high insurance coverage at affordable premiums, ensuring substantial financial security for your family. The death benefit amount can help the insured’s family to replace the lost income, maintain their standard of living, and meet their future financial goals.

A ₹5 crore term insurance plan offers several benefits and advantages to the insured and their family. Here are some of the reasons why you can buy a ₹5 crore term insurance plan:

Cost-Effective

The ₹5 crore term insurance plan can provide life insurance coverage at affordable premiums. The plan might allow you to pay  premium regularly, for a limited tenure or in a single instalment. Moreover, you can choose to pay the premiums annually, half-yearly, quarterly or monthly to make it more affordable.

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Provides Peace of Mind

With a high sum assured, the plan can provide the much-needed peace of mind that your family is financially secure at all times, even when you are not around.

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Loan repayment

The ₹5 crore term insurance plan can give your family a lump sum payout to meet their financial obligations like existing loans and debts. This eases the financial strain that your family might suffer in your absence.

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Inheritance

A ₹5 crore term plan is a good investment plan to create an inheritance for your loved ones so that they do not have to give up on their dreams and future aspirations when you are not around.

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Riders for Additional Coverage

You can add riders to your term insurance plans by paying a nominal extra premium to get enhanced coverage. These riders include critical illness benefit riders, accidental permanent total/partial disability riders, accidental death benefit riders, waiver of premium riders, and family income riders amongst others.

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Tax Benefits

The premiums paid for the term insurance plan can be claimed as tax deductions up to Rs. 1.5 lacs per annum under Section 80C of the Income Tax Act, 1961. The deduction benefit is only available for taxpayers opting for the old tax regime. There are no tax deductions available on term insurance under the new tax regime1.  The death benefits received by the nominee are exempted from taxes2.   The maturity benefit received from the return of premium term plans is also tax-free under Section 10(10D), subject to specific terms and conditions1.

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How does a ₹5 Crore term insurance plan work?

Under a ₹5 crore term insurance plan, the sum assured is ₹5 crore, and you can choose the following policy details –

  • The tenure of the policy
  • Premium paying term and frequency
  • Optional riders

The premium of the policy is determined based on the above-selected factors, also considering your age, health condition and other risk factors. The higher the risk, the higher would be the premiums and vice-versa.

You have to pay the premium in the chosen premium payment frequency, say, monthly, quarterly, half-yearly or yearly over the chosen premium payment tenure. If the life assured passes away during the policy tenure, the death benefit would be paid.  no benefit will be payable on maturity under normal term plans if the insured survives the chosen tenure. However, if you choose the return of premium term plans or the said option in your term plan, on maturity, the premiums that you have paid will be refunded. 

Moreover, if you add riders to the term plan, which may be inbuilt or optional at an additional premium, the rider benefit will also be paid along with the policy benefit if the relevant claim occurs. For instance, if you add the accidental death benefit rider and the life assured dies in a road accident, the rider sum assured would also be payable in addition to the death benefit under the term insurance plan.

How to Determine the Right Coverage Sum?

One can consider the following factors for determining the right coverage as sum assured in a term insurance plan

FactorDescription
AgeThe younger the insured, the higher the sum assured is usually required, as financial responsibilities tend to grow with age.
Inflation RateIt is necessary to factor in the impact of inflation on future expenses while determining the right coverage. The coverage of the term plan should keep pace with the economic inflation. Ensure your coverage amount increases with inflation to maintain purchasing power over time.
Number of DependentsConsider the number of dependents you have, such as your parents, children, spouse, etc. More dependents require a higher coverage amount to ensure their financial security.
Existing Assets and LiabilitiesYour existing assets and liabilities also impact your insurance coverage requirements. Existing assets can reduce the coverage required, while liabilities increase it, as you require funds to pay off outstanding debts.
Basic Lifestyle NeedsThe term plan coverage should be sufficient for supporting the basic lifestyle expenses of your family and maintain their standard of living even in your absence. Higher lifestyle needs require higher coverage, and vice versa. 
GoalsThe number and nature of your goals are directly proportional to the coverage required. More goals generally necessitate higher coverage to achieve them. 

Term Insurance Plans from Bajaj Allianz Life

Who Should Buy a ₹5 Crore Term Plan?

A term insurance plan may be purchased by anyone. However, considering a ₹5 crore term insurance may be suitable for the following:

 

Newly Married Couples

Newly married couples or couples not having kids may have a list of things to tick off at the start of a new life, together. They can opt for a ₹5 crore term insurance plan if the said amount can help meet their financial goals alongside creating financial security for their spouse and dependent parents.

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Couple with Young Kids

For parents or couples with kids, the top priority is to secure the financial future of their child. The sum assured of ₹5 crore term insurance plan may help cover existing debts and meet ongoing family needs, keeping in mind the current expenses and liabilities, as well as enable them to secure funds to meet long-term goals of their child’s future even in their absence.

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Young Professionals

For young professionals, a 5-crore term insurance plan may ensure substantial coverage, taking care of the financial responsibilities that may arise as their career and responsibilities evolve. However, an optimal sum assured can only be determined by factoring the total debts/liabilities, expenses, inflation, etc.

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Individuals Nearing Retirement

Those nearing retirement may want to opt for a ₹5 crore term insurance plan, sufficient enough to cover debts, expenses, inflation etc. to ensure a stable source of income for their spouse and dependent children.

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How do you choose the best ₹5 crore term plan?

Consider the following factors while choosing the best ₹5 crore term plan:

  1. Premium Cost

    Compare the premiums of the available ₹5 crore term insurance plans offered by different insurance providers and evaluate the premium vis-à-vis the coverage offered to get the best value.

  2. Coverage Provided

    While term plans provide straightforward coverage, you may also want to look for additional riders and options that can enhance the benefits and flexibility of the plan. Select a term plan which meets your specific coverage requirements.

  3. Ease of Purchase

    Go for term plans, which have an easy purchase process. A hassle-free application process ensures quicker coverage.

  4. Easy Claim Settlement

    Review the claims settlement process of different insurance policies and select the one which has an efficient and smooth claim settlement process for faster disbursement.

  5. Claim Settlement Ratio

    Claim Settlement Ratio (CSR) shows the track record of settling the claims by the insurance company. Compare the claim settlement ratio across insurance providers and choose one which has a higher claim settlement ratio as it shows that the insurer has settled the maximum of its filed claims.

Factors Affecting The ₹ 5 Crore Term Insurance Premium?

 

There are several factors which affect the premiums  of ₹ 5 Crore Term Insurance. Some of them are listed below3:

 

  1. Age

    The older the individual, the higher the mortality risk (risk of dying) and the higher would be the premiums due to the risk involved.

  2. Gender

    The premiums for female life insurance are generally lower than those for male life insurance.

  3. Family History

    A history of genetic illnesses can lead to higher premiums.  As such, an adverse family history increases your premium cost.

  4. Health History

    Premiums are higher if you suffer from any health or medical complication due to higher mortality risks.

  5. Lifestyle Habits

    Your lifestyle habits influence the premiums. Higher premiums are charged for smokers and individuals consuming alcohol.

  6. Sum Assured

    The higher the sum assured, the higher would be the premium.

  7. Policy Tenure

    Long-term insurance policies generally have lower annual premiums than short-term ones.

Why Bajaj Allianz Life Insurance ?

Bajaj Allianz Life, one of India's leading Private Life Insurers, is committed to offering value-packed and innovative products to help you achieve your Life Goals.

99.23%

Claim Settlement Ratio~

Claim Settlement Ratio
1 Day

Get 1 Day Claim Approval%

One Day Claim Approval
AAA

Stable Rating by CARE$$

CARE Stable Rating
₹1,20,994 Cr

Assets Under Management (AUM)**

Assets Under Management (AUM)
4.19 Cr

Number of Lives Covered#

Number of Lives Covered
432%

Solvency Ratio of 432%^^^

Solvency Ratio
Claim Settlement Ratio 2023-24

Disclaimer:~Individual Death Claim Settlement Ratio for FY 2023-2024 | %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 | $$For details refer to press release published by CARE | **All figures as on 31 January, 2025 | ^^^Solvency ratio 432% as at 31 March 2024 against IRDAI mandated 150% | #Individual and group, as on 31 March, 2024.

Conclusion

A ₹5-crore term insurance plan is a smart strategy to secure the financial future of your family. It offers robust financial security for individuals at various stages of life, whether they are young, married or nearing retirement. The coverage can ensure that your family is protected from financial uncertainties, even when you are not around, ensuring peace of mind and enabling them to meet significant financial objectives and goals.

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At Bajaj Allianz Life, we are here to support you in building a secure and worry-free financial future. With over 24 years of experience, we provide a variety of life insurance plans, including protection, retirement, savings, investment and health, to meet your unique needs.

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I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) or on National Do Not Call Registry (NDNC), any call made, SMS or WhatsApp sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business

 

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Disclaimers:
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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.

15% Discount applicable for customer's first individual life insurance policy on the life of the LA, applicable only on first year’s premium. 5% Discount for salaried employees, 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.

4Above illustration is for Bajaj Allianz Life eTouch II- A Non-Linked, Non-Participating, Individual Life Insurance Term Plan (UIN: 116N198V01) considering Male aged 23 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. 7,159. 2nd Year onwards premium is Rs. 7,760. Total Premium is Rs. 2,32,199 | Medical Rates | Yearly Premium Payment Mode | Death benefit opted is lumpsum payout and monthly instalments (Lumpsum Payout Percentage : 40, Income Payout Percentage : 60). Income payout instalment opted for 40 years | Premium shown above is inclusive of Online Discount only, no other discounts have been considered 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. 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.

5Tax 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%.

2Get Free Health Management Services upto ₹ 31,000 per year

Health Management Services

Frequency

Cost (₹)

Doctor Insta-Consultations

3 consultations per month = 36 consultations per year

Average cost per session = ₹ 500

Total cost per year = ₹ 500 * 36 = ₹ 18,000

Health Coach
(Diet & nutrition consultations)

1 consultation per month =

12 consultations per year 

Average cost per session = ₹ 500

Total cost per year = ₹ 500 * 12 = ₹ 6,000

Emotional Wellness
(Psychologists consultations)

1 consultation per month =

12 consultations per year 

Average cost per session = ₹ 500

Total cost per year = ₹ 500 * 12 = ₹ 6,000

Network discounts:

 

Medicines (M) - 10%

Lab-test booking (L) - 10%

Throughout the year 

Assumption – Total

expense on these

services throughout

the year

Total discounts that can be availed

throughout the year

M - ₹ 5,000

₹ 500

L - ₹ 5,000

₹ 500

Total per year as per assumption

₹ 31,000

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

Doctor Insta-Consultations and Health Coach Services are unlimited and the above numbers are assumed only for the purpose of calculation of the yearly benefit.

6Through Parental Care Option available in Bajaj Allianz Life Family Protect Rider (UIN:116B056V01)

*Tax benefits as per prevailing Section 10(10D) and Section 80C (under old tax regime) 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

Bajaj Allianz Life Insurance Company Limited, Bajaj Allianz Life eTouch II, Bajaj Allianz Life New Critical Illness Benefit Rider and Bajaj Allianz Life Family Protect Rider are the names of the company and the product/rider respectively and do not in any way indicate the quality of the product/rider and its future prospects or returns. For more details on risk factors, terms and conditions please read sales brochure & policy document of base product and rider carefully before concluding a sale or consult your “Insurance Consultant” for more details and eligibility conditions. Bajaj Allianz Life Superwoman Term comprises of Bajaj Allianz Life eTouch II – Life Shield variant (UIN:116N198V03) a Non-linked Non- Participating Individual Life Insurance Term Plan, Bajaj Allianz Life New Critical Illness Benefit Rider – Comprehensive option (UIN: 116B058V01) a Non-Linked, Non-Participating, Individual, Pure Risk Health Rider (this is a mandatory rider) and Bajaj Allianz Life Family Protect Rider – Child Care option (UIN: 116B056V01) - a Non-linked, Non-participating, Individual, Pure Risk Health Rider (this is an optional rider).

Bajaj Allianz Life eTouch II is also available individually for sale without the riders or with the other available riders options under the base policy.

^^*Available with Bajaj Allianz Life Family Protect Rider – Child Care option - A Lumpsum benefit equal to 105% of Total premiums paid4 w.r.t rider will be paid on the earliest occurrence of death or Accidental Total Permanent Disability, plus a monthly income as a percentage (0.1% to 0.5%) of Rider Sum Assured as opted at inception will be paid until child turns Age 25. 4Total Premiums Paid: Total Premiums paid till date w.r.t. the rider option shall be the total of all premiums received under the rider option chosen, exclusive of taxes, extra premium w.r.t. the rider, if any. This is an optional rider.

~~~Available with Bajaj Allianz Life New Critical Illness Benefit Rider - Comprehensive option (UIN: 116B058V01) - A Non-Linked, Non-Participating, Individual, Pure Risk Health Rider. This is a mandatory rider

^^^Health Management Services for Women upto ₹ 36,500 per year

Health Management Services for Women

Frequency

Cost (₹)

Comprehensive Health Check-Up:
- Cancer Screening
- Diabetic, Thyroid, Lipid profile tests
- Calcium Serum test
- Complete Blood Count test

1 per year

₹ 3,500

OPD*^* in-clinic consultations
(Specialist doctors like Gynaecologist, Obstetrician, Dermatologist, Paediatrician, Orthopaedic & General Physician)

*^*OPD – Outpatient Department 

1 per year

 ₹ 1,000

Pregnancy OPD*^* wallet
(OPD*^* benefit worth ₹ 2,000 unlocked in case of pregnancy)

Once during policy term

Not considered in yearly cost since this is available once during policy term

Doctor Insta-Consultations 

3 consultations per month = 36 consultations per year

Average cost per session = ₹ 500

Total cost per year = ₹ 500 * 36 = ₹ 18,000

Health Coach
(Diet & nutrition consultations)

1 consultation per month =

12 consultations per year 

Average cost per session = ₹ 500

Total cost per year = ₹ 500 * 12 = ₹ 6,000

Emotional Wellness
(Psychologists consultations) 

1 consultation per month =

12 consultations per year 

Average cost per session = ₹ 500

Total cost per year = ₹ 500 * 12 = ₹ 6,000

Network discounts:

 

Medicines (M) - 10%

Lab-test booking (L) - 10%

Out-patient consultation (O) - 10%

In-patient consultation (P) - 5%

Throughout the year 

Assumption – Total

expense on these

services 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 assumption

₹ 36,500

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

Doctor insta consultations and health coach services are unlimited and the above numbers are assumed only for the purpose of calculation of the yearly benefit.

7Above illustration is for Bajaj Allianz Life iSecure - A Non-Linked Non-Participating Term Life Insurance Plan (UIN:116N109V05) considering Male aged 25 years | Non-Smoker | Policy Term (PT) – 10 years | Premium Payment Term (PPT) – 10 years | Sum Assured opted is ₹ 50,00,000 | Online Channel | Standard Life | Total Premium Paid is ₹ 1,17,340 | Medical Rates | Monthly Premium Payment Mode | 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.

8If the customer is digitally KYC compliant and meets the eligibility criteria, medical, and underwriting norms.

92% Discount on online purchase is available for regular premium payment and limited premium payment frequency throughout the premium payment term.

27Tax benefits as per prevailing Section 10(10D) and Section 80C (under old tax regime) 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.

21HSAR – High Sum Assured Rebate is subject to policy terms and conditions

22Premium rate applicable to female life will be based on the premium rate of 3 years’ younger male

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, applicable only on first year’s premium.

2Above illustration is for Bajaj Allianz Life Smart Protection Goal - A Non Linked, Non Participating, Individual Life Insurance Term Plan (UIN: 116N174V05) considering Male aged 25 years | Non-Smoker | Standard Life | Policy term (PT)– 30 years | Premium Payment Term (PPT) – 30 years | Total Sum Assured opted is Rs. 1,00,00,000 | Total Premium - Rs. 2,08,143 (1st Year Premium is Rs- 6535/- and 2nd Year onwards Rs -6952/- )| Online Channel | This is exclusive of discount for salaried customers and for customer's first individual life insurance policy | medical rates | Yearly Premium Payment Mode | 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.

1Product feature/benefit mentioned above are dependent on optional benefit, if selected.

~Tax benefits as per prevailing Section 10(10D) and Section 80C (under old tax regime) 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.

X
Disclaimer

Bajaj Allianz Life eTouch- A Non Linked, Non-Participating, Individual Life Insurance Term Plan (UIN: 116N172V04)

*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%.

~Individual Death Claim Settlement Ratio for FY 2023-2024

1Premium Holiday has to be selected at inception to avail this benefit and also depends on other policy terms & conditions


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


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Terms & Conditions

I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) or on National Do Not Call Registry (NDNC), any Call made, including via Voice over Internet Protocol & WhatsApp, SMS or WhatsApp messages, in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business

X
Disclaimer

*Premium increase applicable only for certain policy term, premium payment term and sum assured combinations.

#The Premium prices listed above are the lowest available across all online channels/ platforms for the purchase of this specific version of the product. These rates are subject to input parameters& as required for policy issuance remaining consistent during comparison. No Staff/Partner discount&& can be availed with this product. If a lower premium rate is found elsewhere, under the same conditions mentioned above, the policyholder may choose to cancel their policy and receive a full refund of premium paid.

&& Staff includes directors and employees of Bajaj Finserv Group & their spouse, children, and dependent parents. Partner includes employees and agents of intermediaries and their family members.

&Input parameters include age, medical details, qualifications, occupation, income and other factors required for policy issuance.

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.

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

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Bajaj Allianz Life Term Insurance with tax benefit up to Rs 46,800*
99.23% Claim Settlement Ratio~
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*Above illustration is for Bajaj Allianz Life eTouch II - A Non-Linked, Non-Participating, Individual Life Insurance Term Plan (UIN:116N198V01) considering Male aged 25years | 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. 5,092. 2nd Year onwards premium Rs. 5,520. Total Premium Rs. 1,65,172 | Medical Rates | Yearly Premium Payment Mode | Death benefit opted is lumpsum payout and monthly instalments (Lumpsum Payout Percentage: 40, Income Payout Percentage: 60). Income payout instalment opted for 40 years | Premium shown above is inclusive of Online Discount only, no other discounts have been considered 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. 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.

##Tax benefits as per prevailing Section 10(10D) and Section 80C (under old tax regime) 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%.

**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 on first year's premium.

$Term Insurance plan bought online directly from Bajaj Allianz Life Insurance has no commissions involved.

^^The Return of Premium means total of all the premiums paid under the base product, excluding any extra premium and taxes, if collected explicitly.

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

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Terms & Conditions

I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) or on National Do Not Call Registry (NDNC), any Call made, including via Voice over Internet Protocol & WhatsApp, SMS or WhatsApp messages, in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business

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Disclaimer

Bajaj Allianz Life eTouch- A Non Linked, Non-Participating, Individual Life Insurance Term Plan (UIN: 116N172V04)

*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%.

~Individual Death Claim Settlement Ratio for FY 2023-2024

1Premium Holiday has to be selected at inception to avail this benefit and also depends on other policy terms & conditions


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


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