Aviva Term
vs
Bajaj Allianz Term Insurance Plan

  • Multiple policy tenure to choose from
  • Premiums starting @Rs 15/day
  • 30-day grace period
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Aviva Term vs Bajaj Allianz Term Insurance Plan

Aviva Term

Aviva India is a joint venture between Aviva Plc (UK based company) and Dabur Invest Corp (one of the popular business in India).

Bajaj Allianz Term Insurance Plan

Bajaj Allianz Term Insurance commenced its operations in 2001 and expanded its presence across the country. It serves millions of customers with versatile term plans.

COMPANY DETAILS Edit Aviva Life Term Insurance

Aviva Term

Edit Bajaj Allianz Term Insurance

Bajaj Allianz Term Insurance Plan

Rating
Number of term insurance plans and add-ons
Annual Premiums Collected (2023-24)

Annual Premiums Collected (2023-24)

1317.45

Annual Premiums Collected (2023-24)

23043.04 cr
Payout Options

Payout Options

Lump sum, monthly or a combination of both

Payout Options

Lump sum, monthly, Lump sum+monthly, Lump sum+increasing monthly payout
Claim ratio

Payout Options

98.3%

Payout Options

99.23%
Solvency Ratio

Solvency Ratio

1.8

Solvency Ratio

4.5
Pan India Presence

Pan India Presence

122+

Pan India Presence

576
Riders Available

Riders Available

Accidental Death Benefit Rider, Critical Illness Rider, Waiver of Premium Rider, Disability Income Riders

Riders Available

Waiver of Premium Benefit Rider, Family Income Benefit Rider, Accidental Death Benefit Rider, Accidental Permanent Total/Partial Disability Benefit Rider, Critical Illness Rider
Policy Term

Policy Term

10 to 40 years

Policy Term

5 to 40 years

Know More About Companies

Overview

About Aviva Term Insurance

Aviva India is a joint venture between Aviva Plc., a UK based insurance group, and Dabur Invest Corp., one of India's oldest and most respected business houses. Aviva plc, founded in 1696, is among the world's oldest insurance companies in continuous existence. Aviva has the distinction of being one of the first insurance companies to set up business in India in 1834. Aviva Term Insurance has a customer base of over 34 million across the globe.

What are some of the
Benefits
that set them apart?

  • Accidental death benefit cover

  • Critical illness cover

  • Waiver of premium cover

  • Choice of policy tenure

  • Affordable Premiums

  • Tax benefits

Riders

Riders You Can Avail With Aviva term insurance Plans

Name of the Riders Benefits
Accidental Death Benefit Rider Accidental Death Benefits Rider by Aviva Term Insurance offers extra sum assured to the nominee of the policyholder, in case of death caused by any accident during the rider term.
Critical Illness Rider n Critical illness rider, sum assured will be given to policyholder in advance if he/she is diagnosed with any of the listed critical illness diseases such as cancer, Kidney failure, heart disease etc.
Waiver of Premium Rider In waiver of premium rider, the policyholder future premiums will be waived off in case of permanent disability of body caused by any reason. In waiver of premium rider the insurance companies will wait for 6 months to finalize the premium waiver. If the customer is still not able to work , the rider will be triggered.
Disability Income Riders In a disability income rider, the policy holder will get a regular income, if their body is disabled due to any of the reasons and is not able to work anymore. Disability income rider helps the policyholder to meet their present expenses in case of disability of the body.

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Aviva Life Term Insurance

Explore India’s best-selling Term insurance plans below

Aviva India is a joint venture between Aviva Plc (UK based company) and Dabur Invest Corp (one of the popular business in India).

Aviva Protection Plus is a non-linked non-participating individual life insurance savings plan by Aviva Life Insurance India. The plan comes with two ...

Unique Features

  • 2 Plan option
  • High sum assured rebate
  • Return of Premium

Aviva Protection Plus Plan (Pros)

Aviva Protection Plus Plan
  • Accidental Death Benefit
  • Critical Illness Benefit
  • Waiver of Premium

Aviva Protection Plus Plan (Cons)

Aviva Protection Plus Plan
  • No Policy Loan
  • No Investment Option
  • No Maturity Benefit

Aviva Protection Plus Plan (Other Benefits)

Aviva Protection Plus Plan
  • High Sum Assured Discount
  • Tax Benefit
  • Flexible PPT

Aviva Protection Plus Plan (Eligibility Criteria)

Aviva Protection Plus Plan
  • Entry Age - 20 yrs
  • Maturity Age- 65 yrs
  • Min Sum Assured-20 lac
  • Max Maturity Age-80 yrs
  • Tax Benefit - Yes

Bajaj Allianz Term Insurance

Explore India’s best-selling Term insurance plans below

Bajaj Allianz Term Insurance commenced its operations in 2001 and expanded its presence across the country. It serves millions of customers with versatile term plans.

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

  • High SI Available
  • Accidental Death Benefit
  • Health Management Services

Bajaj Allianz Life e-Touch (Pros)

Bajaj Allianz Life e-Touch
  • Shield
  • Shied Plus
  • Shield Supreme

Bajaj Allianz Life e-Touch (Cons)

Bajaj Allianz Life e-Touch
  • No Loans Allowed
  • No Surrender Benefit
  • No Maturity Benefit

Bajaj Allianz Life e-Touch (Other Benefits)

Bajaj Allianz Life e-Touch
  • Max Sum Assured 2 Cr
  • Sheild Super
  • High Sum Assured Rebate (HSAR)

Bajaj Allianz Life e-Touch (Eligibility Criteria)

Bajaj Allianz Life e-Touch
  • 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 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

  • 105% Death Benefit
  • Rider Benefit
  • 50 lakhs Max Sum Assured

Bajaj Allianz iSecure (Pros)

Bajaj Allianz iSecure
  • No Suicide Cover
  • Healthy Lifestyle Incentives
  • Customizable Options

Bajaj Allianz iSecure (Cons)

Bajaj Allianz iSecure
  • No Maturity Benefit
  • Limited Rider Options
  • Limited Availability for POS Channel

Bajaj Allianz iSecure (Other Benefits)

Bajaj Allianz iSecure
  • Tax Benefits
  • Premium Payment Options
  • High Sum Assured Rebate (HSAR)

Bajaj Allianz iSecure (Eligibility Criteria)

Bajaj Allianz iSecure
  • 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

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

  • 3 Plan Options
  • Critical Illness Benefit
  • Waiver Of Premium

Bajaj Allianz Life Secure (Pros)

Bajaj Allianz Life Secure
  • Surrender Benefit
  • Suicide Cover
  • Choose your Sum Assured

Bajaj Allianz Life Secure (Cons)

Bajaj Allianz Life Secure
  • No Survival Benefit
  • No Thyroid Cancer Cover
  • No Maturity Benefit

Bajaj Allianz Life Secure (Other Benefits)

Bajaj Allianz Life Secure
  • Death Benefit
  • Accelerated Critical Illness
  • Waiver of premium Benefit

Bajaj Allianz Life Secure (Eligibility Criteria)

Bajaj Allianz Life Secure
  • 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

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

  • Death Benefit
  • Tax Benefit
  • 25 Lakh Max Sum Assured

Bajaj Allianz Saral Jeevan Bima (Pros)

Bajaj Allianz Saral Jeevan Bima
  • Spouse Cover
  • Max Sum Assured 25 Lakh
  • Available for Online Buying

Bajaj Allianz Saral Jeevan Bima (Cons)

Bajaj Allianz Saral Jeevan Bima
  • No Survival Benefit
  • No Surrender Benefit
  • No Maturity Benefit

Bajaj Allianz Saral Jeevan Bima (Other Benefits)

Bajaj Allianz Saral Jeevan Bima
  • Avail Tax Benefits
  • Easy Claim Settlement Process
  • Flexible-Premium Payment term

Bajaj Allianz Saral Jeevan Bima (Eligibility Criteria)

Bajaj Allianz Saral Jeevan Bima
  • 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)

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

  • Protection against loan
  • Joint life cover
  • Rider benefits

Bajaj Allianz iSecure Loan (Pros)

Bajaj Allianz iSecure Loan
  • Suicide Cover
  • Tax benefits
  • Policy Revival within 5 Years

Bajaj Allianz iSecure Loan (Cons)

Bajaj Allianz iSecure Loan
  • No Survival Benefit
  • No Surrender Benefit
  • No Discount Benefit

Bajaj Allianz iSecure Loan (Other Benefits)

Bajaj Allianz iSecure Loan
  • Accidental Death Benefit Rider
  • Waiver of Premium Benefit Rider
  • Accidental Permanent Total/Partial Disability Rider

Bajaj Allianz iSecure Loan (Eligibility Criteria)

Bajaj Allianz iSecure Loan
  • 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

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

  • Level Cover Term
  • Terminal Illness Cover
  • Flexible-Premium Payment Term

Bajaj Allianz Lifestyle Secure Plan (Pros)

Bajaj Allianz Lifestyle Secure Plan
  • Family Cover
  • Choose your Policy Term (PT)
  • Inbuilt Accelerated Terminal Illness

Bajaj Allianz Lifestyle Secure Plan (Cons)

Bajaj Allianz Lifestyle Secure Plan
  • No Loans Allowed
  • No Surrender Benefit
  • No Maturity Benefit

Bajaj Allianz Lifestyle Secure Plan (Other Benefits)

Bajaj Allianz Lifestyle Secure Plan
  • Suicide Cover
  • Easy Claim Settlement
  • Policy revival Within 5 Years

Bajaj Allianz Lifestyle Secure Plan (Eligibility Criteria)

Bajaj Allianz Lifestyle Secure Plan
  • 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

Bajaj Allianz Life Smart Goal Protect is a comprehensive insurance plan that offers multiple benefits. An economic plan with affordable premium rates,...

Unique Features

  • Critical illnesses covered
  • Return of Premiums
  • 4 Plan variants

Bajaj Allianz Life Smart Protect Goal (Pros)

Bajaj Allianz Life Smart Protect Goal
  • Critical Illness Benefit
  • Accidental Death Benefit (ADB)
  • Accidental Total Permanent Disability Benefit

Bajaj Allianz Life Smart Protect Goal (Cons)

Bajaj Allianz Life Smart Protect Goal
  • No Loans Allowed
  • 180 Days WP For Critical Illness
  • No Rebate for SA above 3 cr

Bajaj Allianz Life Smart Protect Goal (Other Benefits)

Bajaj Allianz Life Smart Protect Goal
  • Suicide Cover After 12 Months
  • Female Life Rebate
  • High Sum Assured Rebate (HSAR)

Bajaj Allianz Life Smart Protect Goal (Eligibility Criteria)

Bajaj Allianz Life Smart Protect Goal
  • 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 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

  • Keep Fit Benefit
  • Health Coaching
  • Second Medical Opinion

Bajaj Allianz Diabetic Term (Pros)

Bajaj Allianz Diabetic Term
  • Premium Reduction on Renewal
  • Good Health Premium Discounts
  • Health Management Services.

Bajaj Allianz Diabetic Term (Cons)

Bajaj Allianz Diabetic Term
  • No Maturity Benefit
  • No Surrender Value
  • Limited Coverage With Hba1c Level Above 8%

Bajaj Allianz Diabetic Term (Other Benefits)

Bajaj Allianz Diabetic Term
  • Tax Benefits Available
  • Flexible Sum Assured Options
  • Multiple Premium Payment Frequencies

Bajaj Allianz Diabetic Term (Eligibility Criteria)

Bajaj Allianz Diabetic Term
  • Entry Age -30 Years
  • Max Entry Age- 6 Years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 75 Yrs
  • Premium Payment Term - LP

Bajaj Allianz iSecure More by Bajaj Allianz Life Insurance is an increasing cover term assurance plan. It offers a financial safety net to your loved ...

Unique Features

  • Flexible Policy Tenure
  • Option to Avail Joint Life Cover
  • High Sum Assured Rebate

Bajaj Allianz iSecure More (Pros)

Bajaj Allianz iSecure More
  • 7 Plan Options
  • Cover Continuance Benefit
  • Inbuilt Terminal Illness Cover

Bajaj Allianz iSecure More (Cons)

Bajaj Allianz iSecure More
  • 1 year WP for suicide
  • No policy loan
  • No whole life coverage

Bajaj Allianz iSecure More (Other Benefits)

Bajaj Allianz iSecure More
  • Death Benefits
  • Increasing Sum Assured
  • Tax Rebates

Bajaj Allianz iSecure More (Eligibility Criteria)

Bajaj Allianz iSecure More
  • Entry age - 18 years
  • Max entry age - 60 years
  • Min sum assured - Rs 2.5 lakhs
  • Max maturity age - 70 years
  • PPT - Same as policy term

‘A woman who takes care of everyone in the family deserves a comprehensive solution that provides her protection.’ Bajaj Allianz Superwoma...

Unique Features

  • Critical Illness Cover
  • Free Health Management Services
  • Child Care Benefit

Bajaj Allianz Superwoman (Pros)

Bajaj Allianz Superwoman
  • Critical Illness Cover
  • Free Health Management Services
  • Child Care Benefit

Bajaj Allianz Superwoman (Cons)

Bajaj Allianz Superwoman
  • 1 year waiting period for suicide
  • No policy loan
  • No pre-existing illness cover

Bajaj Allianz Superwoman (Other Benefits)

Bajaj Allianz Superwoman
  • Death Benefits
  • Terminal Illness
  • Benefit Waiver of Premium

Bajaj Allianz Superwoman (Eligibility Criteria)

Bajaj Allianz Superwoman
  • Entry age - 18 years
  • Max entry age - 60 years
  • Min sum assured - Rs 50 lakhs
  • Max maturity age - 99 years
  • PPT - RP/SP/LP
Naval Goel

Reviewed By: Naval Goel

Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.