Bajaj Life Diabetic Term Plan Sub 8 HbA1c

Overview

Bajaj 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. This term insurance for diabetic patients comes with a plethora of health management services along with the promise of term insurance protection.

Bajaj Life Diabetic Term Plan Sub 8 HbA1c offers a range of benefits, including:

• Death Benefit
• Tax Benefit
• Health Management Services
• Premium Rebates/Discounts

Death Benefit

In case of the insured life's death, the death benefit states that the nominee or legal heir is entitled to receive the sum assured as chosen by the policyholder at the time of inception.

Keep Fit Benefit

This benefit offers individuals the advantage of premium reduction on policy anniversary, encouraging them to maintain a fit and healthy lifestyle.

Tax Benefits

Bajaj offers term insurance tax benefits under Section 80C of the Income Tax Act, 1961, for up to 1.5 lakhs of the total premiums paid in the same financial year.

Policy Features

Surrender Value

No surrender value is applicable under this policy. The policy will terminate on the date of surrender.

Grace Period

If you have failed to make payment of the premium by the due date specified, you will be allowed a grace period of thirty (30) days for premium payment frequencies other than monthly mode and fifteen (15) days for monthly frequency to pay the due premium.

Free Look Period

There is a free look period of fifteen (15) days from the date of receipt of this Policy Document and a period of thirty (30) days in case of electronic Policies and Policies obtained through distance mode.

Option to Change Premium Payment Frequency

You will have the option to change the prevailing premium payment frequency at any policy anniversary during the policy term, subject to the availability of the premium payment frequency and the minimum premium allowed under the product.

Exclusions

• The policy shall be terminated if the policyholder commits suicide within 12 months from the date of policy inception.