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Bajaj Allianz is one of the reliable and trusted term insurance companies in India that offer a wide range of insurance products to cater to the needs of their customers. Bajaj Allianz term insurance plans offer a financial safety net to your loved ones in case of your unfortunate demise.
The Bajaj Allianz term plans are easy on your pocket and can be purchased online from the comfort of your home. There are 8 term insurance plans by Bajaj Allianz that you can choose from. Let's learn what benefits they come with in the below sections.
What are some of the
Benefits
that set them apart?
Death benefit payout options
Flexible policy tenure
Additional riders to choose from
Sheild against death, terminal illness and disability
Varied sum assured options
Tax-saving benefits
Discounts on premiums
Bajaj Allianz Term Insurance offers you multiple term insurance plans based on the features, benefits, and eligibility criteria. Here are some of the term plans offered by Bajaj Allianz Term Insurance.
Plan | Entry Age | Tenure | Min. Sum Assured | Unique Features |
---|---|---|---|---|
Bajaj Allianz Life e-Touch Plan Plan | Minimum Age - 18 years Maximum Age - 65 years | Annual, half-yearly, quarterly & monthly | Rs 50 lakhs |
|
Bajaj Allianz iSecure Plan Plan | Minimum Age - 18 years Maximum Age - 65 years | Annual, half-yearly, quarterly & monthly | Rs 25 lakhs |
|
Bajaj Allianz Life Secure Plan Plan | Minimum Age - 25 years Maximum Age - 55 years | Annual, half-yearly, quarterly & monthly | No limit |
|
Bajaj Allianz Saral Jeevan Bima Plan | Minimum Age - 18 years Maximum Age - 65 years | Annual, half-yearly, quarterly & monthly | Rs 5 lakhs |
|
Bajaj Allianz iSecure Loan Plan Plan | Minimum Age - 18 years Maximum Age - 60 years | Annual, half-yearly, quarterly & monthly | Rs 3 lakhs |
|
Bajaj Allianz Lifestyle Secure Plan Plan | Minimum Age - 18 years Maximum Age - 50 years | Annual, half-yearly, quarterly & monthly | Rs 3 lakhs |
|
Bajaj Allianz Life Smart Protect Goal Plan Plan | Minimum Age - 18 years Maximum Age - 65 years | Annual, half-yearly, quarterly & monthly | Rs 50 lakhs |
|
Bajaj Allianz Diabetic Term Plan Plan | Minimum Age - 18 years Maximum Age - 60 years | Annual, half-yearly, quarterly & monthly | Rs 25 lakhs |
|
Here is a quick overview of the Bajaj Allianz Term Insurance Plans listed in the above table.
Bajaj Allianz Life eTouch is an online protection plan that comes with three variants to choose from- Life Shield, Life Shield Plus and Life Shield ROP. By choosing premium holiday option you can also skip your premiums for 1, 2 or 3 years during the premium payment term.
Here are the key features of the above plan
Bajaj Allianz Life iSecure is a flexible term insurance plan that you can avail as an individual policy or a joint life policy. This plan provides you the option to alter premium payment frequency and take death benefits as installments.
Bajaj Allianz Life Secure is a whole life plan that provides term assurance cover, accidental death cover and critical illness cover, depending on your choice. This plan offers three coverage options to choose from- Death Benefit, Death Benefit plus Accidental Death Benefit and Death Benefit or Accelerated Critical Illness plus Waiver of Premium Benefit.
Bajaj Allianz Life Saral Jeevan Bima is an individual pure-risk premium life insurance plan, which provides for payment of sum assured in a lump sum to the nominee in case of the life assured’s unfortunate death during the policy term.
Bajaj Allianz iSecure Loan is a loan cover term assurance plan, which ensures that your family is protected from the burden and the worry of any loan repayment in your absence. This plan ensures your loved ones can live a comfortable lifestyle.
Bajaj Allianz Lifestyle Secure Term Plan is a pure protection plan that offers regular income to your loved ones in case of your unfortunate demise during the policy tenure.
Bajaj Allianz Life Smart Protect Goal is comprehensive ROP (Return of Premiums) plan that pay your premiums back in the form of maturity benefits. You have the option to choose whole life coverage up to 99 years of age.
Here are the key features of the above plan
Bajaj Allianz Life Diabetic Term Plan II Sub 8 HbA1c is a protection plan that offers term insurance cover to type 2 diabetics and prediabetics by factoring in their health conditions.
Bajaj Allianz e-touch is a pure term insurance plan safeguarding you and your loved ones from unforeseen circumstances. The plan is equipped to manage...
Unique Features
Bajaj Allianz iSecure is a non-linked, non-participating plan that offers an advanced level of term insurance coverage at a low cost. The plan offers ...
Unique Features
Bajaj Allianz Life Secure is an advanced term insurance plan that offers protection till your 100th birthday. This plan is a non-linked and non-partic...
Unique Features
Bajaj Allianz Sararl Jeevan Bima is a non-linked, non-participating individual, pure-risk premium life insurance plan designed to provide financial se...
Unique Features
Bajaj Allianz iSecure Loan is a pure protection loan cover term life insurance plan. With a flexible policy term and a minimum sum assured of 3 lacs, ...
Unique Features
Most Indians consider insurance an unnecessary expense because they're not sure whether to get life insurance or health insurance. What if we told you...
Unique Features
Bajaj Allianz Life Smart Goal Protect is a comprehensive insurance plan that offers multiple benefits. An economic plan with affordable premium rates,...
Unique Features
Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c is a unique protection plan offering term insurance coverage to pre-diabetics and type 2 diabetic in...
Unique Features
Bajaj Allianz Term Insurance Plans
Bajaj Allianz Term Insurance Review 2023
Name of the rider | Benefits |
Bajaj Allianz Waiver of Premium Benefit Rider | Future premiums are waived off in case of the policyholder’s demise due to accidental death, disability, or any of the 11 critical illnesses mentioned. |
Bajaj Allianz Family Income Benefit Rider | 1% of the sum assured is offered for a rider term or 10 years as family income in case of accidental death, disability, or diagnosis of any of 11 critical illnesses. |
Bajaj Allianz Accidental Death Benefit Rider | In case of the policyholder’s demise due to an accident, an additional payout is given to the nominee along with the base sum assured. |
Bajaj Allianz Accidental Permanent Total/Partial Disability Benefit Rider | Additional payout is offered in case of total or partial disability of the policyholder due to an accident. |
Bajaj Allianz Critical Illness Rider | Benefits are offered to the nominee in case of the policyholder’s demise due to any of 11 listed critical illnesses. |
Bajaj Allianz Term Insurance is one of the most trustworthy and reliable insurer partners you can choose from. Here are the reasons why you should choose Bajaj Allianz Term Insurance Plans:
Bajaj Allianz Term Plans are reliable and have a claim settlement ratio of 99.04% which is proof of their unwavering commitment to their customers.
A delay in the settlement can create unnecessary hurdles for the family members of the policyholder. Bajaj Allianz Life offers 1-Day claim approval for eligible policies.
Bajaj Allianz term insurance offers an extensive range of products, that are designed to meet the diverse needs of the customers.
Bajaj Allianz offers term insurance tax benefits under section 80C of the Income Tax Act, 1961 for up to 1.5 lakhs of the total premium paid in the same financial year.
The company has an extensive nationwide network with 509 branches. With their robust physical presence, they stand amongst the largest insurance providers.
Bajaj Allianz Term Insurance Company is counted among the most trusted insurance providers in the nation.
Bajaj term insurance goes beyond insurance coverage and offers many add-on services such as customer support, online policy management, and personalized assistance.
Bajaj Allianz Term Insurance Plans offer various additional benefits to the policyholders.
Some Bajaj Allianz term plans such as Bajaj Allianz eTouch offer you to skip your premiums for 1, 2 and 3 years.
Bajaj Allianz term plans such as Bajaj Allianz Life Diabetic Term Plan II Sub 8 HbA1c offer health management services through webinars, medical consultations, etc.
Bajaj Allianz Term Plans offer high sum assured rebate to the policyholders.
Bajaj Allianz term insurance plans such as Bajaj Life iSecure offer joint life cover so that you can cover your spouse under a single plan.
Some Bajaj Allianz term plans such as Bajaj Allianz Life Saral Jeevan Bima offer female life rebates.
There are various Bajaj Allianz term plans based on their features, policy tenure, benefits, etc. You can choose the one that best suits your requirements.
These plans only provide a sum assured to the nominee in case of the death of the policyholder. No survival benefits are included.
These plans give the premium amount back to the policyholders only if they survive the policy term.
These plans offer monthly income to the policyholder’s dependents in case of the policyholder’s demise.
These plans offer inbuilt coverage against critical illnesses.
These plans offer inbuilt coverage against accident disability and death cover.
Here are the documents required to buy a Bajaj Allianz Term Insurance Policy:
Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
Age Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
Address Proof (either of one) - Utility bill, passport, voter ID, ration card.
Medical Records of the policyholder if requested.
Income Proof ( either of one) - bank statement, last three months' salary slips (if you are salaried).
You can buy the Bajaj Allianz Term Insurance policy from Policyx.com or the Bajaj Allianz Term Insurance website.
Fill out the form given at the top of this page with the necessary details.
Select your income and city. Click on 'Proceed'.
Update your education and occupation details.
Choose your preferred plan and click on 'Buy this plan'.
Select the policy term, premium period, and riders (if required), and then proceed to make the payment.
Visit the official website of Bajaj Allianz Life Insurance Company.
Click on ‘Buy Term Plan' on the navigation bar and select ‘Term Insurance Plans'.
Click on the ‘Buy Now' button and fill in the required details.
Tap on 'Next' and select a plan as per your requirements.
Select the cover option you want and make your payment.
You can use the PolicyX Term Insurance Calculator to get your premium amount.
Don't just take our word for it - check out what our happy customers say about us!
All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.
I highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.
I'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.
I bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.
PolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.
I purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.
Filing a claim for Bajaj Allianz Term Plan is a simple and hassle-free task. You can easily fill and submit their claims online or offline. To file a claim for Bajaj Allianz Term Plan, you need to follow the below-mentioned steps.
Inform the company about the incident via any of the channels- by writing an email at balic.healthclaims@healthindiatpa.com, calling the toll-free number (1860 209 7272), filling out the online claim form on its website, or visiting the nearest branch.
Bajaj Allianz’s customer support staff will review your claim form and will assist you at every step. Their staff will next evaluate your claim and notify you if any papers are still pending.
After receiving all the documents and claim forms, the company will verify the details as per their norms. On successful completion, the claim will be settled and the amount will be transferred to the nominee's bank account and the same will be communicated to him/her over a call or an email.
We can also report Bajaj Allianz Term Insurance claim by visiting their nearest branch office. For details of your nearest branches, you can visit 'Contact Us' section on their official website. You have to carry all your essential documents at the branch so that your claim can be processed smoothly.
If you have any more queries regarding Bajaj Allianz Term Insurance Plans,
Renewals, or Claim Procedures, contact our insurance experts at:
1800-4200-269 now!
Death claim due to COVID-19 is covered under all policies of Bajaj Allianz Life and shall be processed as per the terms and conditions of the policy.
There are two ways of renewing your policy: online and offline.
In the above situations, you have to submit a proof of title/succession certificate issued by a competent court. In case you have not submitted the proof, the company will hold the money till the proof is submitted and pay interest as directed by the Insurance Regulatory and Development Authority of India.
For the same, you have to visit the official website of the company and log in to your account. There, you can check the details of the plan and claim status as well.
The claim settlement time may vary depending on the complexity of the claim and the availability of required documents, typically within 15 to 30 days from the submission of all necessary documents.
Yes, you can check the claims online from the official website. All you have to do is log in using your credentials and search for the health insurance claim section.
It depends upon the plan you opt for, pre-existing conditions may have certain waiting periods before they are covered under Bajaj Allianz term insurance plans.
Bajaj term insurance plans offer the ‘Waiver of Premium Benefit’ rider. If you become disabled due to an accident and are unable to pay the premiums, this rider ensures that your policy remains active and your coverage continues without the burden of premium payments.
Yes, the company offers flexible term insurance plans that can be customized to meet your requirements. You can choose optional riders like critical illness cover, accidental disability cover, and waiver of premium benefits to enhance your coverage.
Term insurance premiums up to Rs 1.5 lakh in a year are eligible for tax deduction under Section 80C of the Income Tax Act, 1961. Additionally, any amount received from a term plan is tax-exempt under Section 10 (10D) of the Income Tax Act, 1961. However, these exemptions and deductions are subject to the provisions stated in the Income Tax Act, of 1961.
Yes, all the plans contain the feature of a Free-Look Period of 15 days, where the life assured is allowed to cancel the policy if (s)he is not satisfied with the policy’s terms and conditions.
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