Why Bajaj Allianz Life eTouch Online Term Insurance Plan ?
Bajaj Allianz Life eTouch Online Term offers comprehensive protection against the #Ifs Of Life. With Bajaj Allianz Life eTouch Online Term Plan you can secure the financial future of your loved one's with up to Rs. 10 Crores as life cover. This online term plan is a one-of-its-kind product and provides life, health and accidental insurance along with the benefit of waiver of premium.
It goes without saying that you could never be replaced, but with the Bajaj Allianz Life eTouch Online Term plan your loved ones are cushioned from the financial pressure that would come with your loss or the loss of your income. In case of an unfortunate event, proceeds of the Bajaj Allianz Life eTouch Online Term Plan can be used to help preserve your family's standard of living and fulfill their future goals.
Key Features of Bajaj Allianz Life eTouch Online Term Plan
A comprehensive online Term Plan
Bajaj Allianz Life eTouch Online Term is a regular premium payment, pure term and health cover plan. The term plan provides life cover combined with benefits on accidental death, accidental total permanent disability and critical illnesses and benefit of Waiver of Premium, depending on the variant opted by you.
Flexible Premium Payment Options
Bajaj Allianz Life eTouch Online Term Plan allows you the option to choose from multiple premium payment options such as monthly, quarterly, half-yearly and annually.
Bajaj Allianz Life eTouch Online Term Plan acts like a shield that offers protection from all of life’s uncertainties.
Flexibility to choose from four variant options to enhance your protection
Each one of our financial needs is different; this is why the Bajaj Allianz Life eTouch Online Term Plan comes in four variants, i.e. Shield, Shield Plus, Shield Super and Shield Supreme.
Option for the nominee to receive the policy benefits in a lump sum or in monthly installments
Bajaj Allianz Life eTouch Online Term Plan allows you the flexibility to choose from lump-sum payments or monthly installments, whichever suits your needs better.
Lower premium for leading healthy lifestyle for non-tobacco users
Bajaj Allianz Life eTouch Online Term Plan rewards you for leading a healthy lifestyle and staying away from tobacco products.
Variants of Bajaj Allianz Life eTouch Online Term Plan
a) Shield : Protects your family from life's ups & downs and safeguards their financial wellbeing.
b) Shield Plus : Ensures you and your family live comfortably even in case of an Accidental Total Permanent Disability.
c) Shield Super : Provides protection and complete peace of mind from dire events & accidents; today, tomorrow & always!
d) Shield Supreme : Gives you all-round protection from life’s uncertainties, so you enjoy life & live fearlessly!
Tips to get the ideal online term insurance plan
- An online term plan is designed to be a vital security in life and from its unpredictable nature. Thus, it makes sense to invest a good amount of thought and research before fixing on your plan. Here are some tips that can help you arrive at an ideal term insurance plan.
Calculate the ideal coverage amount beforehand
The amount should be adjusted keeping in mind things like the number of dependents, their life-stage, their future goals & requirements and their lifestyle costs. It should also cover the cost of inflation & all your liabilities.
Term insurance plans are affordable to begin with, but if you start young, going in for an online term plan will be all the more affordable.
Compare well & then choose the right insurance provider
There are various online term insurance aggregators through which you can easily compare insurance providers and their online term plans. Compare claim settlement ratios, solvency ratio and look at the reputation of a provider before finalizing on a plan.
Look for riders and add-ons you need
An online term insurance plan can offer wider protection with the inclusion of certain riders. These riders make your online term plan full-proof and offer a wider protection.
Get a health check-up done and disclose everything
A medical check-up is a must before investing in an online term plan. If the medical report shows something to worry about, make sure you disclose it to your insurance provider. It may call for a slightly higher premium but it will discard any chances of your claim being rejected.
Step 1: Choose your variant^
a) Shield - Life Benefit ^^ plus Waiver of Premium Benefit (on occurrence of Accidental Total Permanent Disability)
b) Shield Plus - Life Benefit plus Accidental Total Permanent Disability Benefit plus Waiver of Premium Benefit (on occurrence of Accidental Total Permanent Disability)>
c) Shield Super - Life Benefit plus Accidental Death Benefit plus Accidental Total Permanent Disability Benefit plus Waiver of Premium Benefit (on occurrence of Accidental Total Permanent Disability))
d) Shield Supreme - Life Benefit plus ^^^ Accelerated Critical Illness Benefit plus Accidental Total Permanent Disability Benefit plus Waiver of Premium Benefit (on occurrence of Accidental Total Permanent Disability or Critical Illness)
^ The variant chosen at inception cannot be changed during the policy term. ^^ Life benefit refers to the Sum Assured under the plan that will be payable on death of the life assured. ^^^ Accelerated Critical Illness means the benefit payable on diagnosis of any specified Critical Illness wherein such benefit if paid will be deducted from the Sum Assured on death.
Step 2 : Choose your Sum Assured
Decide on the level of protection you need to safeguard your family's future. On choosing higher Sum Assured for the term insurance, you benefit from High Sum Assured Rebate (HSAR).
Step 3: Choose your Policy Term
Select the period for which you desire to get the benefits of the term insurance protection. Wondering how to fix on an ideal term for your online term plan? Experts suggest this formula, your current age minus the age at which you wish to retire; the difference is the ideal tenure for your life insurance policy.
Step 4: Choose your Premium Payment Frequency
Depending on your convenience decide the regular time interval at which you would prefer to pay the premium during the policy term.
Your premium will be based on your current age, gender, sum assured, variant, policy term & premium payment frequency.
Option to Change Premium Payment Frequency
- With Bajaj Allianz Life eTouch Online Term Plan, you will have the option to change the prevailing premium payment frequency on any policy anniversary, during the policy term.
- Another useful advantage of the Bajaj Allianz Life eTouch Online Term Plan is that premiums paid are eligible for tax benefits under section 80C of the Income Tax Act, 1961. Returns on death, accidental death, accidental permanent total disability and critical illness are eligible for tax benefits under Section 10(10D) of the Income Tax Act, subject to the provisions stated therein.
- If you have failed to pay the premium on your Bajaj Allianz Life eTouch Online Term Plan, you will be allowed a grace period of 30 days for premium payment frequencies other than monthly and 15 days for monthly frequency to pay the due premium.
Free Look Period
- Within 30 days of the receipt of this online term plan, you will have the option to review the terms and conditions of the policy and if you disagree to any of the terms & conditions, you will have an option to return the policy stating the reasons for objections and avail a refund of your premiums.
#Annualised Premium is exclusive of extra premium and loadings for modal premiums, if any, and total premiums paid is equal to (Annualized Premium* number of years for which premiums have been paid). Service tax & cess will be collected over and above the premium under the policy.