Bajaj Allianz Term Insurance Plan vs Bandhan Term Insurance

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Bajaj Allianz Term Insurance Plan vs Bandhan Term Insurance

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.

Bandhan Term Insurance

Bandhan Life also known as Aegon Life Insurance is one of the best term insurance provider that has served more than 5 million customer till date.

COMPANY DETAILS Edit Bajaj Allianz Term Insurance

Bajaj Allianz Term Insurance Plan

Edit Bandhan Term Insurance

Bandhan Term Insurance

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

Annual Premiums Collected (2023-24)

23043.04 cr

Annual Premiums Collected (2023-24)

430.91 Cr
Payout Options

Payout Options

Lump sum, monthly, Lump sum+monthly, Lump sum+increasing monthly payout

Payout Options

Lump sum, monthly, or a combination of both
Claim ratio

Payout Options

99.29%

Payout Options

99.66%
Solvency Ratio

Solvency Ratio

3.59

Solvency Ratio

2.5
Pan India Presence

Pan India Presence

576

Pan India Presence

150
Riders Available

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

Riders Available

Accidental Death Benefit Rider, Critical Illness Rider
Policy Term

Policy Term

5 to 40 years

Policy Term

5 to 70 years

Know More About Companies

Overview

Bajaj Allianz Term Insurance: Overview

Bajaj Allianz is a joint venture between Bajaj Finserv Limited (a non-financial institution) and Allianz SE (the world’s leading global insurance company), one of the reliable and trusted term insurance companies in India. It offers a wide range of insurance products to cater to the needs of its customers. Its offerings include term insurance plans, ULIPs, child plans, NRI plans, savings plans, etc. Bajaj Allianz term insurance plans offer a financial safety net to your loved ones in case of your unfortunate demise during the policy term. 

The Bajaj Allianz term plans are easy on your pocket and can be purchased online from the comfort of your home. There are various term insurance plans offered by Bajaj Allianz that you can choose from. 

What are some of the
Benefits
that set them apart?

  • Death benefit payout options

  • Flexible policy tenure

  • Additional riders to choose from

  • Shield against death, terminal illness and disability

  • Varied sum assured options

  • Tax-saving benefits

  • Discounts on premiums

Riders

Riders You Can Avail With Bajaj Allianz Term Insurance Plans

You can avail of the following riders with Bajaj Allianz term insurance plans.

Name of the rider Benefits
Bajaj Allianz Waiver of Premium Benefit Rider Future premiums are waived 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.

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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

Bandhan Term Insurance

Explore India’s best-selling Term insurance plans below

Bandhan Life also known as Aegon Life Insurance is one of the best term insurance provider that has served more than 5 million customer till date.

Bandhan iTerm Prime Plan is a pure protection term insurance plan that comes with affordable premiums. The plan has a minimum sum assured of 25 lakhs ...

Unique Features

  • Affordable Premiums
  • High Coverage
  • Riders Available

Bandhan Life i-term Prime (Pros)

Bandhan Life i-term Prime
  • Bandhan Life Women CI Rider
  • Bandhan Life CI Care Rider
  • Bandhan Life WoP Rider on CI

Bandhan Life i-term Prime (Cons)

Bandhan Life i-term Prime
  • No Maturity Benefit
  • No Loan Allowed
  • Policy Terminates Post Payment of Death

Bandhan Life i-term Prime (Other Benefits)

Bandhan Life i-term Prime
  • Surrender Benefit
  • Inbuilt Terminal Illness Benefit
  • Life Coverage Till the Age of 100 Years

Bandhan Life i-term Prime (Eligibility Criteria)

Bandhan Life i-term Prime
  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 100 Yrs
  • Premium Payment Term - SP

Bandhan Life iTerm Comfort, from Bandhan Life Insurance Company, is a pure protection plan that offers a guaranteed lump sum payout in the event of yo...

Unique Features

  • Comprehensive protection
  • Special exit value
  • 2 rider benefits

Bandhan Life iTerm Comfort (Pros)

Bandhan Life iTerm Comfort
  • Bandhan Life CI Care Rider
  • Bandhan Life AD Rider
  • Suicide Cover After 12 Months

Bandhan Life iTerm Comfort (Cons)

Bandhan Life iTerm Comfort
  • No Maturity Benefit
  • No Loan Allowed
  • No Surrender Benefit

Bandhan Life iTerm Comfort (Other Benefits)

Bandhan Life iTerm Comfort
  • Tax Benefit
  • Option to Attach or Detach Riders
  • Policy Revival Within 5 Years

Bandhan Life iTerm Comfort (Eligibility Criteria)

Bandhan Life iTerm Comfort
  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 70 Yrs
  • Premium Payment Term - 40 Years

Bandhan Life Saral Jeevan Bima is a pure protection, simple, and easy to understand plan that offers a death benefit to your nominee in case of your d...

Unique Features

  • Flexible premium payment term
  • Affordable premiums
  • Tax benefits

Bandhan Life Saral Jeevan Bima (Pros)

Bandhan Life Saral Jeevan Bima
  • Flexible premium payment term
  • Affordable premiums
  • Tax benefits

Bandhan Life Saral Jeevan Bima (Cons)

Bandhan Life Saral Jeevan Bima
  • 1 year WP for suicide
  • No policy loan
  • No pre-existing illness cover

Bandhan Life Saral Jeevan Bima (Other Benefits)

Bandhan Life Saral Jeevan Bima
  • Hassle-free buying process
  • Tax benefits
  • Riders availability for enhanced protection

Bandhan Life Saral Jeevan Bima (Eligibility Criteria)

Bandhan Life Saral Jeevan Bima
  • Entry age - 18 years
  • Max entry age - 65 years
  • Min sum assured - 5 lakhs
  • Max maturity age - 85 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.