Bajaj Allianz Limited is formed between Bajaj Finserv Limited and Allianz SE. The company has been a leader in the insurance market with world-class products, efficient service and after-sales support. The company has been offering various types of life insurance plans both in the Life Insurance category and General Insurance category. Bajaj Allianz Life Insurance is among the market leaders in insurance sector offering a wide range of products at competitive rates. Moreover, the company boasts of a strong foundation of sales force which helps to increase the company’s market share in the insurance sector. The range of products offered by Bajaj Allianz include Protection plans in the form of term plans, Child Plans, Savings and Investment Plans which are available in both conventional or ULIPs form and pension plans. With a wide range of products, the company strives to meet every individual’s insurance related requirement at a single source.
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Bajaj Allianz offers a range of term plans to suit the needs of every individual whether it is for pure protection purposes or for securing loans. Let us consider the range of term plans offered by Bajaj Allianz Life Insurance Company and the aspects of each.
Your premium is decided on age at which you buy the policy and remains same, throughout your life
Premiums can increase between 4-8% each year after your Birthday
Your policy application could be rejected or premiums increase by 50-100%, if you develop a lifestyle disease
A term insurance plan which is available only through the website of the company. The Bajaj Allianz term plan features are mentioned below:
|
Minimum | Maximum |
Entry Age | 18 years | 60 years |
Maturity Age | 28 years | 70 years |
Policy Term | 10 years | 30 years |
Sum Assured | Rs.2 lakhs for smokers Rs.20 lakhs for non-smokers and preferred non-smokers | No limit |
Annual Premium Amount | Rs.3000 | No limit |
Premium Payment Term | Equal to policy term | |
Premium Payment Frequency | Yearly, half-yearly, quarterly or monthly |
An online term insurance with increasing coverage. The features of this Bajaj term plan are as follows:
Minimum | Maximum | |
Entry Age | 18 years | 60 years |
Maturity Age | 28 years | 70 years |
Policy Term | 10 years | 25 years |
Sum Assured | Rs.2.5 lakhs | No limit |
Annual Premium Amount | Rs.1500 | No limit |
Premium Payment Term | Equal to policy term | |
Premium Payment Frequency | Yearly, half-yearly, quarterly or monthly |
A term insurance plan offered for loan protection. The features of the plan are as follows:
Minimum | Maximum | |
Entry Age | 18 years | 60 years |
Maturity Age | 28 years | 65 years |
Policy Term | 10 years | 25 years |
Sum Assured | Rs.3 lakhs | No limit |
Annual Premium Amount | Rs.1500 | No limit |
Premium Payment Term | 2/3rd of the policy term | |
Premium Payment Frequency | Yearly, half-yearly, quarterly or monthly |
A term plan with enhanced benefits on death and terminal illnesses. The features of This Bajaj Allianz term plan are as follows:
Minimum | Maximum | |
Entry Age | 18 years | 50 years |
Maturity Age | 23 years | 60 years |
Policy Term | 5 years | 20 years |
Sum Assured | Rs.3 lakhs | Rs.15 lakhs |
Annual Premium Amount | Rs.1466 | Rs.20, 458 |
Premium Payment Term | Equal to policy term | |
Premium Payment Frequency | Yearly, half-yearly, quarterly or monthly |
A whole of life plan which covers the individual for his entire lifetime. The features of This Bajaj Allianz term plan are as follows:
Minimum | Maximum | |
Entry Age | 25 years | Options I & II - 55 years Option III – 50 years |
Maturity Age | 23 years | 60 years |
Policy Term | 100- entry age | |
Sum Assured | Rs.20 lakhs | No limit |
Annual Premium Amount | Rs.36, 720 | No limit |
Premium Payment Term | 5, 7, 10 or 15 years | |
Premium Payment Frequency | Yearly, half-yearly, quarterly or monthly |
However, if a claim settlement is delayed beyond 30 days, the company pays an 11% interest for every day's delay