Pramerica 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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Pramerica Term vs Bajaj Allianz Term Insurance Plan

Pramerica Term

Pramerica Life Insurance offers wide range of solutions to individuals as well as groups. They have PAN India presence with 137 branches.

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 Pramerica Life Term Insurance

Pramerica 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)

1495.39 Cr

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

98.8%

Payout Options

99.23%
Solvency Ratio

Solvency Ratio

4.1

Solvency Ratio

4.5
Pan India Presence

Pan India Presence

131

Pan India Presence

576
Riders Available

Riders Available

Accidental Death Benefit Rider, Accidental and Total Permanent Disability Rider, Critical Illness Rider, Waiver of Premium Rider

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 30 years

Policy Term

5 to 40 years

Know More About Companies

Overview

Pramerica Term Insurance: Overview

Pramerica Life, established in year 2008 offers a vast range of insurance products to their customers. One such product is Pramerica Term Insurance. It offers high coverage at an affordable premium by ensuring that your family is financially protected by offering a lump sum payout in the event of death during the policy term.

What are some of the
Benefits
that set them apart?

  • Attractive premiums

  • Flexible premium payment option

  • Critical illness cover

  • Accidental death benefit

  • Premium waiver option

  • Long-term protection

  • Tax benefits

  • Additional rider to enhance protection

Riders

Riders You Can Avail With Pramerica term insurance Plans

Name of the Riders Benefits
Pramerica Life Accidental Death Benefit Rider Under this rider, if the policyholder dies after 180 days of the occurrence of the accident, an additional benefit equal to the rider sum assured will be payable to the nominee with immediate effect.
Pramerica Term Accidental and Total Permanent Disability Rider Under this rider, upon the policyholder’s disability due to an accident, a rider sum assured will be paid for the treatment and managing monthly expenses.
Pramerica Term Critical Illness Rider Under this Rider, if the policyholder is diagnosed with any of the listed 36 critical illnesses, a rider sum assured will be paid to the nominee.
Pramerica Term Waiver of Premium Rider IUnder Pramerica’s Life waiver of premium rider, if the policyholder is diagnosed with any of the listed 40 critical illnesses or is fully disabled due to an accident then all the future premiums of the ongoing term plan will waived off with immediate effect.

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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
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.