Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c
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 individuals by considering all the nuances of their health status. The plan ensures the financial safety of the family members in case the sole earner of the family is absent. The plan comes with a plethora of health management services along with the promise of term insurance protection. Diabetes is a disease that requires lifestyle management which is why Bajaj Allianz has integrated health management services like webinars, medical consultations, medical second opinion, health coaching, vitals tracking, and more.
Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c offers an adequate sum assured to its customers with the minimum sum assured as INR 25 Lakh. Customers can opt for a flexible premium payment frequency between yearly, half-yearly, quarterly, or monthly. The key advantages covered by the plan are mentioned below:
- Designed for individuals with type 2 diabetes with HbA1c level <=8% and pre-diabetics.
- 'Keep Fit' benefit focuses on improving over all health along with the flexibility of premium reduction on the policy anniversary.
- Health management services in order to manage a better lifestyle.
- Flexible premium payment terms.
- Tax benefits.
In this article we shed light on all the important aspects of this plan and understand how it can be beneficial for you and your family.
Benefits of Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c
The plan is designed to serve individuals with type 2 diabetes and pre-diabetic individuals integrating various benefits as per their needs and requirements. Read below to understand the plan benefits:
- Death Benefit
In case of death of the insured life, the death benefit states that the nominee or legal heir is entitled to receive the sum assured as chosen by the customer at the time of inception. Sum assured on death is defined as higher of: - 10 times Annualized Premium
- 105% of total premiums paid till date of death
- Sum Assured
The policy will terminate on the death of the life assured. - Maturity Benefit
Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c is a pure term plan therefore no maturity benefit is applicable on the survival of insured individual till policy maturity. The policy shall terminate on the policy maturity date. - Keep Fit Benefit
Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c is a pure term plan therefore no maturity benefit is applicable This benefit offers individuals the benefit of premium reduction on policy anniversary as well as encourages individuals to keep fit and healthy. This benefit actively encourages the insured individual to take constructive measures to improve their overall health. On improving your diabetes parameters as per your medical reports from inception or latest revival date, prior to each policy anniversary, this benefit allows individuals to reduce underwriting loading at each policy anniversary to the effect of 10% of the base installment premium.
How Does Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c Work?
We have mentioned below the steps required to avail the benefits of the plan:
- Step 1 - Select Sum Assured
Individuals must decide on the level of protection required by them by selecting their preferred sum assured on the basis of their family's future needs. - Step 2 - Select Policy Term
Under this plan, premium term and policy term are equal. Individuals may select the time period during which they want life insurance protection and throughout the policy term customers must pay their premiums to avail life insurance protection. - Step 3 - Select Premium Payment Frequency
Individuals can opt between Yearly, Half-Yearly, Quarterly and Monthly premium payment frequency as per their convenience. - Step 4 - Answer Health Questionnaire
While purchasing the policy, individuals are required to answer a health questionnaire to define their health status. The premium to be paid will be based on the current age, gender, sum assured, HbA1c level, smoker status, health status, policy term, premium payment frequency, and more.
Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c At A Glance
| Minimum Entry Age | 18 Years |
| Maximum Entry Age | 60 Yearss |
| Policy Term | 5 to 25 Years |
| Premium Payment Term | Regular Premium (Premium Payment Term is equal to Policy Term) |
| Sum Assured | INR 25 Lakh to No limit, Subject to prevailing Board approved unerwriting policy |
| Premium | As per the minimum and maximum sum assured |
| Premium Payment Frequency | Yearly, Half-Yearly, Quarterly, Monthly |
Health Management Services of Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c
There is a special health management service benefit offered to individuals investing in the diabetes plan designed by Bajaj Allianz. The services will include:
- Annual HbA1c test
- Medical second opinion
- Medical case management
- Medical consultation
- Vitals tracking
- Health coaching
- Webinars and more
Sample Premium Illustration for Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c
The sample premium illustration provided below is for 35 year old pre-diabetic including GST with sum assured options INR 50 L and 1 Crore for a policy term of 10,15, and 20 years.
Sum Assured - INR 50 Lakhs
| Policy Term (Years) | 10 | 15 | 20 |
| Premium (In Rs.) | 10,729 | 11,753 | 13,533 |
Sum Assured - INR 1 Crore
| Policy Term (In Years) | 10 | 15 | 20 |
| Premium (In Rs.) | 18,694 | 20,861 | 24,399 |
Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c Exclusions
In case of death of the life assured due to suicide, within 12 months from the date of commencement of risk or the date of latest revival of the policy, the nominee or the beneficiary of the policyholder is entitled to receive 80% of the total premiums paid as death benefit under the policy.
Conclusion
Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c can be availed by anyone who is pre-diabetic or a type-2 diabetic individual. The insurance industry has numerous health insurance plans that deal with diabetes, however a term insurance plan for diabetic individuals is a rare and helpful tool. Diabetes is a serious illness as it brings with itself a number of complications and other illnesses and to manage such a disease patients need to be worry-free regarding their family members in case of their untimely demise. The plan is successfully providing diabetic patients with health management services and life insurance coverage.
Bajaj Allianz Life Term Insurance Plans
To secure your family's needs, Bajaj Allianz offers 8-term insurance plans via online and offline channels, from which you can choose a well-suited plan for yourself.
Bajaj Allianz Life Saral Jeevan Bima
A simple easy to understand pure protection term plan which comes in affordable premiums and provides death benefit to the family of the policyholder.
Unique Features
- Future Proofing Benefit
- 100 % Death Benefit
- Max Sum Assured 25 Lakh
- Spouse Cover
- Max Sum Assured 25 Lakh
- Available for Online Buying
- No Survival Benefit
- No Surrender Benefit
- No Maturity Benefit
Saral Jeevan Bima (Other Benefits)
- Avail Tax Benefits
- Easy Claim Settlement Process
- Flexible-Premium Payment term
Saral Jeevan Bima (Eligibility Criteria)
- Entry Age -18 Years
- Max Entry Age- 65 Years
- Minimum Sum Assured - 5L
- Maximum Maturity Age - NA
- Premium Payment Term - RP/SP/LP (5&10 Years)
The plan provides pure term and health coverage, providing whole life cover and accidental total permanent disability.
Unique Features
- Waiver of Premium(WOP)
- Accelerated Critical Illness(ACI)
- 4 variants
eTouch Online Term (Pros)
- Shield
- Shied Plus
- Shield Supreme
eTouch Online Term (Cons)
- No Loans Allowed
- No Surrender Benefit
- No Maturity Benefit
eTouch Online Term (Other Benefits)
- Max Sum Assured 2 Cr
- Sheild Super
- High Sum Assured Rebate (HSAR)
eTouch Online Term (Eligibility Criteria)
- Entry Age -18 Years
- Max Entry Age- 65 Years
- Minimum Sum Assured - 50 L
- Maximum Maturity Age - 75 Yrs
- Premium Payment Term - 10 to 40 Yrs
Bajaj Allianz iSecure Plan
A comprehensive term life insurance plan that offers level life cover at an affordable cost.
Unique Features
- Joint Life Cover Option
- Non-Smokers Discount
- Flexible Premium Payment
- No Suicide Cover
- Healthy Lifestyle Incentives
- Customizable Options
- No Maturity Benefit
- Limited Rider Options
- Limited Availability for POS Channel
iSecure Plan (Other Benefits)
- Tax Benefits
- Premium Payment Options
- High Sum Assured Rebate (HSAR)
iSecure Plan (Eligibility Criteria)
- Entry Age -18 Years
- Max Entry Age- 65 Years
- Minimum Sum Assured - 2.5 L
- Maximum Maturity Age - 85 Yrs
- Premium Payment Term - 10 to 25 Yrs
The comprehensive plan offers death coverage, accidental death coverage, Cancer cover benefits, and Waiver of Premium on Critical Illness Benefits.
Unique Features
- (ROP) as Maturity Benefit
- Whole Life cover
- Waiver of Premium Benefit
Smart Protection Goal (Pros)
- Critical Illness Benefit
- Accidental Death Benefit (ADB)
- Accidental Total Permanent Disability Benefit
Smart Protection Goal (Cons)
- No Loans Allowed
- 180 Days WP For Critical Illness
- No Rebate for SA above 3 cr
Smart Protection Goal (Other Benefits)
- Suicide Cover After 12 Months
- Female Life Rebate
- High Sum Assured Rebate (HSAR)
Smart Protection Goal (Eligibility Criteria)
- Entry Age -18 Years
- Max Entry Age- 65 Years
- Min Sum Assured - 5 L
- Max Maturity Age - 75 Yrs(ROP)
- Premium Payment Term - RP/SP/LP
Bajaj Allianz iSecure More
An increasing life cover term plan which comes with rebates on sum assured. Gives the option of payout in instalments.
Unique Features
- Spouse Cover
- 5% Increase SI Annually
- Death Benefit
- Convert to Joint Life Cover
- Enhanced Cover with Riders
- Option for Disbursement In Monthly Installments
- No Loans Allowed
- No Surrender Benefit
- No Maturity Benefit
iSecure More (Other Benefits)
- Tax Benefit
- Premium Payment Options
- High Sum Assured Rebate (HSAR)
iSecure More (Eligibility Criteria)
- Entry Age -18 Years
- Max Entry Age- 60 Years
- Minimum Sum Assured - 2.5 L
- Maximum Maturity Age - 70 Yrs
- Premium Payment Term - 10, 15, 20 & 25 years
Bajaj Allianz iSecure Loan
A pure protection loan repayment term plan which comes with riders, tax benefits and limited premium payment term.
Unique Features
- Death Benefit
- Flexible Loan Rates
- Flexible policy Term
- Suicide Cover
- Tax benefits
- Policy Revival within 5 Years
- No Survival Benefit
- No Surrender Benefit
- No Discount Benefit
iSecure Loan (Other Benefits)
- Accidental Death Benefit Rider
- Waiver of Premium Benefit Rider
- Accidental Permanent Total/Partial Disability Rider
iSecure Loan (Eligibility Criteria)
- Entry Age -25 Years
- Max Entry Age- 60 Years
- Minimum Sum Assured - 3 L
- Maximum Maturity Age - 65 Yrs
- Premium Payment Term - 10, 15, 20 & 25 years
Bajaj Allianz Life Secure
A pure term plan that comes with female discounts, death benefit and a high sum assured for more protection.
Unique Features
- Three Coverage Options
- 100 Years Life Cover
- 4 Premium Payment Terms
- Surrender Benefit
- Suicide Cover
- Choose your Sum Assured
- No Survival Benefit
- No Thyroid Cancer Cover
- No Maturity Benefit
Life Secure (Other Benefits)
- Death Benefit
- Accelerated Critical Illness
- Waiver of premium Benefit
Life Secure (Eligibility Criteria)
- Entry Age -18 Years
- Max Entry Age- 65 Years
- Minimum Sum Assured - 20 L
- Maximum Maturity Age - NA
- Premium Payment Term - 5, 7, 10 and 15 years
A pure-risk plan that provides level cover term assurance and accelerated terminal illness benefit. The plans gives an option of regular income or lump sum.
Unique Features
- Rebate on high sum assured
- Discounts for Female
- No Medical Examination
- Family Cover
- Choose your Policy Term (PT)
- Inbuilt Accelerated Terminal Illness
- No Loans Allowed
- No Surrender Benefit
- No Maturity Benefit
LifeStyle Secure (Other Benefits)
- Suicide Cover
- Easy Claim Settlement
- Policy revival Within 5 Years
LifeStyle Secure (Eligibility Criteria)
- Entry Age -18 Years
- Max Entry Age- 50 Years
- Minimum Sum Assured - 3L
- Maximum Maturity Age - 60 Years
- Premium Payment Term - 5/ 7/ 10/ 15/ 20 Yrs
