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You should buy Bajaj term insurance plans to ensure the financial stability of your family in the event of your unfortunate death. These plans offer the sum assured you chose as a death benefit to your family in case the policyholder passes away during the policy term. This benefit amount can help your family take care of their financial needs like rent and child’s fees.
Bajaj life insurance offers a wide range of term life insurance plans that allow individuals of all backgrounds to secure their loved ones at affordable premiums. The most common Bajaj term plans available in India are:
The Bajaj term critical illness rider enhances the base coverage of the term plan and covers the policyholder against various critical and life-threatening illnesses. Some of the common illnesses covered under this rider are cancer, first heart attack, kidney failure, coma, stroke, paralysis, and benign brain tumour. Here is a list of all the critical illnesses covered under this rider.
Bajaj term plan offers optional rider benefits under which you can add the riders to the base term plan to enhance the plan’s coverage at nominal premiums. These riders can be added to the base plan at nominal premiums that can be paid along with the base term premiums. The term insurance riders available with Bajaj term insurance plans are as follows:
| Extra Payout on Accidental death | Extra Payout on Accidental disability |
| Joint Life Rider | Cover for Child |
To understand how much cover is the right cover, you should use a human life value calculator. This online tool provides an accurate estimation of the right sum assured suitable for your profile. All you need to do is fill in your age, annual income, and insurance cover of the existing policy. As per the general thumb’s rule, you should get term insurance at least 15 to 20 times your current annual income.
Choosing the right sum assured in term insurance is important as it provides the selected death benefit to your family in your absence. Therefore, you should opt for a sum assured that will cover your family’s financial needs in your absence.
Our term life insurance calculator in india can help you calculate the following:
Here is a list of all the key features of the Bajaj Life term plans:
Low Entry Age: Bajaj Life term plans allow people of a wider age group to buy term insurance plans and secure the financial future of their loved ones.
Long Term Cover: With Bajaj Life term life insurance, you can protect your family for your whole life (till 99 or 100 years of age).
Customised Benefits: You can easily customise the benefits and details of the policy like policy term, sum assured, and premium payment term, to ensure the plan fits your needs.
Premium Payment Options: You can pay your Bajaj Life term premium payments on a monthly, quarterly, bi-yearly, or yearly basis in regular, limited, or single payment mode.
Easy to Buy: Bajaj Life term insurance plans are easy to buy and can be bought online in just a few minutes.
You can use a Bajaj life term insurance plans calculator to see the applicable premiums before buying your policy.
Buying a Bajaj Life term plan can benefit you in the following ways:
Financial Security: Bajaj Life term plans offer financial protection to your family members by ensuring they receive the death benefit in your absence.
Death Benefits: These term plans offer the death benefit to your family in case of your unfortunate demise that helps them financially recover in your absence.
Maturity Benefits: The Bajaj Life term plan does not offer any maturity benefits, but different types of term plan like term return of premium plans and no-cost term insurance plan return the premiums paid throughout the policy, on survival of the policy term.
Rider Benefits: You can add the available riders to the base term plan to enhance its coverage. Some of the most common riders offered are accidental total permanent disability and accidental death benefit riders.
Tax Benefits: You can claim term insurance tax benefits as per the prevailing tax laws u/s 80C and 10(10D) of the Income Tax Act, 1961.
Bajaj Life term insurance plans offer flexible payout options so that families can manage finances comfortably after a claim.
Lump Sum Payout: The entire sum assured is paid at once to the nominee. This option is useful for clearing large financial liabilities like home loans.
Monthly Income Payout: Instead of a single payment, the amount is paid as regular monthly income. This helps in managing daily expenses over time.
Combination Payout: A part of the sum assured is paid upfront, and the remaining is paid as monthly income. This balances immediate and long-term financial needs.
Let’s take a look at the list of people who can buy Bajaj Life term plans:
| Category | Why It Makes Sense |
| Young professionals | Helps lock in lower premiums early and build long-term financial security |
| Working women | Ensures financial independence and protection for dependents |
| People with kids | Secures children’s future expenses like education and daily needs |
| Newly wedded | Provides financial protection as new responsibilities begin |
| Taxpayers | Offers potential tax benefits along with life cover |
| Senior citizens | Helps cover remaining financial liabilities and support dependents |
Before buying, you should use the Bajaj life term insurance plans calculator to see the premiums change for different policy conditions like sum assured and policy term.
Here is how you can buy Bajaj term life insurance plans in India:
Step 1: Visit the term insurance page of Policybazaar
Step 2: Fill in your name, gender, contact details, and date of birth
Step 3: Select the suitable annual income, occupation type, educational qualifications, and smoking habits
Step 4: Choose the Bajaj Life term plan and proceed to pay
* Before buying a term plan, it is important that you understand what is term insurance and how it can benefit you.
Before you buy Bajaj term insurance plans, you should think about the following:
Assess Financial Needs: Before you pick the right amount of coverage, you should think about what you and your family need, such as your yearly income, their monthly expenses, and the possibility of inflation.
Choose Cover Amount: Since the cover amount is the amount that will be paid to your family in your absence, you should select an amount that will successfully cover your family’s financial needs.
Select Policy Term: Choose the cover tenure as per your and your dependents’ needs. For example, if your kids will be independent in the next 15 years, you can opt for a 15-year term insurance that will cover you until they are no longer dependent on you.
Add Suitable Riders: Several insurers offer a variety of additional riders to add to the base policy to enhance the coverage at nominal premiums. The most common riders available are critical illness, terminal illness, accidental death benefit, etc.
Check Company CSR: You should always assess the company’s CSR (Claim settlement ratio) which is the number of claim requests received by the company in one financial year to the number of claims settled by them. It denotes the reliability of the company.
Note: Check all the best term insurance plan in India.
Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.
Understanding the Bajaj Life term insurance claim process helps ensure that your family can easily access the policy benefits when needed.
Step 1: Claim Intimation
The nominee must inform the insurer about the policyholder’s death as soon as possible so the claim process can begin.
Step 2: Document Submission
The nominee is required to submit documents such as the policy document, death certificate, identity proof, and bank details.
Step 3: Claim Verification
The Bajaj term life insurance company looks over the information you sent and may look into the claim further in some cases to make sure it is valid.
Step 4: Claim Settlement
Once verified, the insurer settles the claim and transfers the sum assured to the nominee. Claims are usually settled within defined timelines as per regulatory guidelines.
˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. ₹361/month is the starting price for a ₹1 crore loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10
+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.
+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
Women
+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.
1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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Policybazaar offers the following types of term insurance plans to fit the different needs of Individuals from all walks of life.
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