Bajaj Allianz Term Insurance Plan
vs
Tata Aia Term Insurance

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

Tata Aia Term Insurance

TATA Insurance Company is a joint venture between TATA Sons Pvt. Ltd and AIA Group Ltd. The company is amongst the top term insurance providers in the Indian subcontinent.

COMPANY DETAILS Edit Bajaj Allianz Term Insurance

Bajaj Allianz Term Insurance Plan

Edit TATA AIA Term Insurance

Tata Aia 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)

25691.82 crores
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

99.23%

Payout Options

99.13%
Solvency Ratio

Solvency Ratio

4.5

Solvency Ratio

1.8
Pan India Presence

Pan India Presence

576

Pan India Presence

500+
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

Waiver of Premium Rider, Accidental Death Rider, Accidental Disability Rider, Critical Illness Rider
Policy Term

Policy Term

5 to 40 years

Policy Term

10 to 40 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

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

Tata AIA Term Insurance

Explore India’s best-selling Term insurance plans below

TATA Insurance Company is a joint venture between TATA Sons Pvt. Ltd and AIA Group Ltd. The company is amongst the top term insurance providers in the Indian subcontinent.

Tata AIA Insta Protect is a comprehensive plan protecting your family against death, disability, and disease under a single plan. The plan safeguards ...

Unique Features

  • All round protection
  • Loaded with features
  • Very high Sum Insured

TATA AIA Insta Protect (Pros)

TATA AIA Insta Protect
  • Covers Death Due to Accident
  • No Medical Tests
  • Accelerated Terminal Illness

TATA AIA Insta Protect (Cons)

TATA AIA Insta Protect
  • No Loans Allowed
  • No Maturity Benefit
  • No Suicide Cover in Terminal Illness

TATA AIA Insta Protect (Other Benefits)

TATA AIA Insta Protect
  • Return of Premiums (Optional)
  • Survival and Maturity Benefit
  • Health and Wellness Benefits

TATA AIA Insta Protect (Eligibility Criteria)

TATA AIA Insta Protect
  • Entry Age - 18 years
  • Max Entry Age - 45 years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 75 Yrs
  • Premium Payment Term - LP/RP/SP

Tata AIA SRS Vitality is a rеmarkablе term insurance plan that sеamlеssly blеnds two еssеntial еlеmеnts - Tata AIA Life Insurance Sampoorna ...

Unique Features

  • Whole Life Cover
  • Wellness Program
  • Cover Boosters

Tata AIA SRS Vitality Protect (Pros)

Tata AIA SRS Vitality Protect
  • 10% Guaranteed Discount
  • Wellness Rewards Program
  • Guaranteed 1st Year Discount

Tata AIA SRS Vitality Protect (Cons)

Tata AIA SRS Vitality Protect
  • No Plan Conversion Option
  • No Maturity Benefit
  • Limited Premium Payment Terms

Tata AIA SRS Vitality Protect (Other Benefits)

Tata AIA SRS Vitality Protect
  • 75% SA Terminal Illness Coverage
  • Cover Boosters
  • Up To 30% Rider Premium Discount

Tata AIA SRS Vitality Protect (Eligibility Criteria)

Tata AIA SRS Vitality Protect
  • Entry Age - 18 years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 50 L
  • Max Maturity Age 100Yrs
  • Premium Payment Term - (5-81 Yrs) LP/RP/SP

TATA AIA Saral Jeevan Bima is a pure protection plan. The plan is designed with simple terms and conditions, it is affordable and accessible to even t...

Unique Features

  • A simple and easy plan
  • Affordable premiums
  • Choose your rider options

TATA AIA Saral Jeevan Bima (Pros)

TATA AIA Saral Jeevan Bima
  • Available for Online Buying
  • Choose to pay Premium Once
  • Max Sum Assured 50L

TATA AIA Saral Jeevan Bima (Cons)

TATA AIA Saral Jeevan Bima
  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

TATA AIA Saral Jeevan Bima (Other Benefits)

TATA AIA Saral Jeevan Bima
  • Suicide Cover
  • Spouse Cover
  • Policy Revival Within 5 Years

TATA AIA Saral Jeevan Bima (Eligibility Criteria)

TATA AIA Saral Jeevan Bima
  • Entry Age - 18 years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 5 L
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP(5&10 Years)

TATA AIA has introduced a term plan which covers you for terminal illnesses. You can avail of 50% of the basic sum assured in case you are diagnosed w...

Unique Features

  • Life Stage Plus Option
  • Payout Accelerator Benefit
  • Non-smoker & Female Discounts

TATA AIA Maha Raksha Supreme (Pros)

TATA AIA Maha Raksha Supreme
  • Additional Riders
  • High Cover Discount
  • Life Coverage with Terminal Illness Payout

TATA AIA Maha Raksha Supreme (Cons)

TATA AIA Maha Raksha Supreme
  • No Policy Loan is Available
  • No Plan Conversion Option
  • No Maturity Benefit

TATA AIA Maha Raksha Supreme (Other Benefits)

TATA AIA Maha Raksha Supreme
  • Payout Accelerator Benefit
  • 105% SA Death Benefit
  • Whole Life coverage (till age 100 years)

TATA AIA Maha Raksha Supreme (Eligibility Criteria)

TATA AIA Maha Raksha Supreme
  • Entry Age - 18 years
  • Minimum Sum Assured - 50 L
  • Max Maturity Age 100Yrs
  • Premium Payment Term - LP/RP/SP
  • Max Entry Age - 65 years(Adaptable)

Sampoorna Raksha Promise by Tata AIA Life Insurance is a pure-term insurance plan that offers financial protection to your loved ones in case of your ...

Unique Features

  • 4 Plan Options
  • Joint Life Option
  • Instant Payout on Claim

Tata AIA Sampoorna Raksha Promise (Pros)

Tata AIA Sampoorna Raksha Promise
  • Choice of Plan Options
  • Instant Payment on Claim Intimation
  • Whole Life Coverage Option

Tata AIA Sampoorna Raksha Promise (Cons)

Tata AIA Sampoorna Raksha Promise
  • No Policy Loan is Available
  • No Plan Conversion Option
  • No Maturity Benefit

Tata AIA Sampoorna Raksha Promise (Other Benefits)

Tata AIA Sampoorna Raksha Promise
  • Special Discount for Females
  • Add-on Riders to Choose
  • Choice of Death Benefit Payout

Tata AIA Sampoorna Raksha Promise (Eligibility Criteria)

Tata AIA Sampoorna Raksha Promise
  • Entry Age - 18 years
  • Minimum Sum Assured - 25 L
  • Max Maturity Age - 100 Yrs
  • Premium Payment Term - LP/RP/SP
  • Max Entry Age - 65 years (Adaptable)
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.