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Bajaj Allianz Term Insurance Calculator

Bajaj Allianz Insurance offers a wide range of comprehensive term plans to cater to the needs of every individual. Bajaj Allianz plans help individuals achieve their financial goals in life, and at the same time, provide protection from the twists and turns of life. One can buy plans for pure protection purposes or for securing loans. These plans come with competitive premium rates that can be easily calculated using a Bajaj Allianz Term Insurance calculator.

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Why Should You Use a Term Insurance Premium Calculator?

With a large number of term insurance plan available in the market, choosing the right plan to suit one’s needs becomes necessary. It is helpful to compare and analyze the different insurance policies available. Investors can use it to select the right plan that fits into their budget and takes care of their needs.

A Term Insurance premium calculator is an online tool that helps to determine the premium for a term insurance policy online. It also facilitates easy comparison. One can easily find out the appropriate premium amount that needs to be paid for a particular policy with a term insurance premium calculator. It can be used to calculate multiple premium values for various term plans available.

Why buy Term Insurance early?

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

See how age affects Term Insurance Premiums
See how age affects Term Insurance Premiums
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Here are the reasons why you should use a Term Insurance Premium Calculator:

  • A term insurance calculator can help one understand and compute the estimated premium amount required to be paid for one’s term insurance plan.
  • A term plan calculator is available online free of charge. It can be easily accessed and used to calculate various premium values that need to be paid for one’s term plan.
  • It helps you understand the difference between the various product offerings before investing in them.
  • A clear understanding of the premium amount can help one plan the extent of their life insurance cover.
  • A term insurance calculator can also be used to check if a given term plan lies within one’s budget and whether the life coverage selected is appropriate or not.

The process to use Bajaj Allianz Term Insurance Calculator

One can easily use the Bajaj Allianz Term Insurance calculator in a few simple steps to determine one’s premium amount and go ahead with a specific term plan. Interested individuals can simply visit the official website of the insurer or the insurance aggregator to use the Term Insurance premium calculator tool online.

Here are the steps to be followed:

  • Fill in the required information

    The term insurance premium calculator requires some information to be entered to calculate the premium amount. One would be required to fill in one's gender, DOB, marital status, current debts and liabilities, annual income, coverage amount required, etc. The calculator also needs information about one’s smoking habits or other health conditions. One needs to enter these details correctly.

  • Enter the Sum Assured amount

    The sum assured amount has to be entered carefully after careful assessment of one’s family needs and future financial requirements. One can enter the Sum Assured amount carefully to proceed with the premium calculations. A policyholder can view premium amounts either as a monthly payment or a lump-sum amount.

  • Check the premium amount and finalize the policy purchase

    Once one has entered the necessary details, one will get a premium estimate on the screen.  Here, one needs to check whether the suggested premium amount is within their budget. If it does, they can proceed to buy the term policy to safeguard the financial future of their loved ones. If not, they can make changes to the sum assured amount to calculate different premium rates which suit their budget.

Advantages of Bajaj Allianz Term Insurance Calculator

Bajaj Allianz Term Insurance calculator will help one determine the right amount of insurance coverage required to meet their needs to reach their family goals. It offers a series of benefits, which are as follows:

  • Gives an estimated premium amount

    Before using the Term Plan calculator, a person may not have the exact idea about the premium amount for a plan. However, once they enter the relevant details in this online tool, one can easily get an estimated premium amount for the term policy on the calculator.

  • Time-efficient process

    A pen and paper process for calculating premium amounts under various Sum Assured combinations can be a tedious task and can also lead to errors. However, using a term insurance premium calculator just takes 5-10 minutes of one’s time. All that is required is to follow the right steps and enter the correct information, and one can easily get the right results.

  • Cost-effective solution

    Bajaj Allianz Term insurance premium calculator tool is available online free of charge. It provides individuals with an estimated premium amount for their plans in an easy and hassle-free manner.  One doesn’t need to stand in queues at the insurance office to determine their premium. They can quickly get an estimate of their premium amount with one click on the website.

Information required while using Bajaj Allianz Term Insurance Calculator

Anyone using the Bajaj Allianz term Insurance calculator would need the following information:

  • Personal Information- Policyholder’s date of birth, income details, any loan or debt amount, gender, marital status, number of members to be insured
  • Health Information- Information about any critical illness, smoking, or tobacco habits.
  • Sum Assured Amount of life cover needed
  • An estimate of one’s future financial goals and budget conditions to fit term insurance into their profile.

Benefits of buying Bajaj Allianz Life Term Insurance Plan

Term insurance plans are affordable plans that offer financial protection in the absence of the insured. They keep one’s life goals on track. Here are the benefits of buying Bajaj Allianz Life Term Insurance plans:

  • Helps in meeting life goals

    These plans offer sufficient life coverage in the form of death benefits received by the nominee in case of the policyholder’s death. Some plans offer maturity benefits upon survival. This amount can help the insured and his family to meet their life goals such as kids’ education, marriage, paying off debt, buying a home, etc.

  • Helps in wealth generation

    Bajaj Allianz Life insurance plans help provide double benefits of life coverage and investment. Good examples of insurance cum investment tools are Whole Life insurance plans, pension plans, child plans, endowment plans, and ULIPs. In fact, ULIPs provide the freedom to the policyholder to select them based on their investment goals and risk appetite.

  • Risk Mitigation

    Human life is subject to unforeseen risks as death, disability, or disaster can strike anytime and can disrupt the financial stability of one’s family. A term insurance plan ensures that the insured person’s family continues with their existing lifestyle without getting impacted financially in case of his demise.

  • Flexible Policy Terms

    Bajaj Allianz offers a wide range of insurance products covering the varied insurance needs of people based on their occupation, liabilities and life goals. Their insurance plans are available to provide protection for a specified term with Term Insurance or the whole life with Whole Life insurance.  The plans offer Term insurance with complete flexibility in the policy tenure.

  • Flexible-Premium Payment

    Bajaj Allianz offers flexible and convenient premium payment frequency as per the user needs. The premiums can be paid on a yearly, half-yearly, quarterly, or monthly basis as per the product terms and conditions.

  • Tax Benefits

    Life insurance plans such as ULIPs and term Insurance can be beneficial to taxpayers as good tax-saving instruments. They can provide income tax deductions up to Rs. 1.5 lakh in a particular financial year. One can also avail of tax benefits on payouts, as per the Income Tax Act, 1961, provisions stated.

    *Standard T&C Apply

    *Tax benefits are subject to change as per tax laws.

    Best term Insurance Plans in India

Bajaj Allianz Term Insurance Premium Rates

Bajaj Allianz Term Insurance plans come at competitive premium rates that do not burn a hole in the policyholder’s pocket. There are plans to fit every budget. Life insurance rates can vary among applicants based on the type of insurance. In general, the premium rates vary as per the following:

  • Age of the applicant- Young age applicants get a chance to avail of low premium rates on account of high life expectancy.
  • Gender-Women can get better premium rates than men. (* Standard T&C Apply)
  • Sum Assured –High sum assured amounts generally attract low premium rates.
  • Policy tenure-The higher the number of years, the lesser is the premium amount.
  • Applicant’s occupation –High risk jobs like mining, pilots, firefighters, etc., may have higher premium rates.
  • Premium Payment Term- Term insurance plans that require premium payment throughout the policy tenure come with lower premium rates. Limited Premium payment Insurance plans may require policyholders to pay higher premiums. In the case of insurance plans with a single premium, one may pay a higher one-time premium for term insurance.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

To sum up, an individual can effectively use the Bajaj Allianz Term Insurance Calculator to determine the term insurance premiums. A premium calculator can be used judiciously for a quick and hassle-free comparison of insurance policies.

Bajaj Allianz Term Insurance Plans - FAQs

  • Q. How can I check my Bajaj Allianz term plan status?

    Ans: A Bajaj Allianz insurance plan holder can visit the official website of the company online to check their policy status. They need to log in to your account to check the plan details or their claim status. They can also call, email, or SMS customer care with their policy number to check their status.
  • Q. What is a Term Insurance Rider?

    Ans: Term insurance plans come with additional optional benefits in the form of add-ons. These optional add-ons are known as riders, and they offer protection under specific circumstances, like, accidental death, accidental disability, or critical illness.  One has to pay an additional amount towards the riders.
  • Q. Can I renew my Bajaj Allianz Term Plan online?

    Ans: Yes, Bajaj Allianz provides its online portal services to the policyholders to renew their insurance plans online. One can visit the website, enter the policy details, follow the steps and make the payment to renew their plan.
  • Q. How can I file a Bajaj Allianz Insurance Claim?

    Ans: Bajaj Allianz Life Insurance policyholders need to submit valid documents along with the claims form. This can be either submitted online or at the nearest local branch. Upon receiving the documents and processing them, the insurer Claims team will settle the claim within 30 days. The claim amount is directly deposited in the policyholder’s bank account.
  • Q. Do Term plans provide any maturity benefit?

    Ans: Term plans do not offer any maturity benefits as they do not have an investment component. However, a term plan with a Return of Premium (TROP) feature can help one retrieve the total premium paid at the end of the policy term.
  • Q. What is the age limit to buy term insurance plans?

    Ans: For Bajaj Allianz term insurance plans, the entry age limit varies. The minimum age to buy a term insurance plan is 18 years, and the maximum age of 65 years. The plan can provide coverage up to 99 years, as per the product terms and conditions. (* Standard T&C Apply)
  • Q. How can I find the required term insurance coverage?

    Ans: One needs to assess one’s required term insurance coverage based on one’s existing age, assets, debt, and future life goals of the family. Individuals can use the Bajaj Allianz Term Insurance Calculator to evaluate their term insurance coverage requirements. Term insurance coverage will vary as per age and financial obligations. It is always recommended to analyze one’s needs, budget, and current lifestyle before finalizing the coverage amount.
  • Q. Do I have the option to increase my sum assured amount?

    Ans: Yes, Bajaj Allianz term Insurance plans offer the policyholders the feature to increase the assured sum amount with changes in their life situations. Marriage, childbirth, career changes, expansion in family, lifestyle changes, etc., can impact an individual’s financial obligations and life coverage. In such situations, it is advisable to revisit your term insurance plan. One can evaluate if the plan and the sum assured under it still meet the changing requirements of your family. If not, one can go for an increase in the sum assured, as and when required.
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Bajaj Allianz Term Insurance Plans Reviews & Ratings

4.6 / 5 (Based on 9 Reviews)
(Showing Newest 9 reviews)
Delhi, September 02, 2021
Average Benefits
I have taken term insurance policy of Bajaj Allianz from policy bazaar and it was referred by one of my relative. I am paying monthly premium of Rs.3000 through online as well have enabled auto debit option. The benefits are average. I need to pay the premium till MAY 2022 and it was taken in the year of 2016. Happy to be their customer.
Barapalli, April 05, 2021
Claim is easy
It is very easy to file for a claim for the term plan of bajaj Allianz. I bought this plan from the website of the policybazaar. The assistance given by the team of policybazaar and bajaj Allianz is good. They helped my friend in getting claim and that’s why I bought this plan from them. Thanks team.
Qadian, March 30, 2021
Get online updates
For my term insurance plan which I bought of bajaj Allianz, I got various updates at one place. I got to know about my plans and details regarding the same. It is convenient to use and understand. Thank you so much policybazaar.
Bagha Purana, March 30, 2021
Claim is easy
It is very easy to file for a claim for the term plan of bajaj Allianz. I bought this plan from the website of the policybazaar. The assistance given by the team of policybazaar and bajaj Allianz is good. They helped my friend in getting claim and that’s why I bought this plan from them. Thanks team.
Asifabad, March 23, 2021
Get online updates
For my term insurance plan which I bought of bajaj Allianz, I got various updates at one place. I got to know about my plans and details regarding the same. It is convenient to use and understand. Thank you so much policybazaar.
Dabugam, February 16, 2021
Satisfied and happy
I am one of the happiest customer of policybazaar. I bought the bajaj Allianz term insurance plan 2 years back and having a good experience. Thanks team.
Baarod, February 16, 2021
Easy to pay
It is really easy to make the payment for the premium amount of the term insurance plan. I bought it online and has been making the payment on online basis. It is easy and hassle free. I bought the bajaj Allianz term plan from policybazaar.
Chapra, August 16, 2016
Term plan
The bajaj allianz term insurance policy of mine is good. The policy has low premium investments and the output is high. Claiming is simple and sanctioning amount is easy due to quick service given by the company members. Easy renewals through online portal service.
Ahmednagar, July 15, 2016
Good Service
My term insurance plan is fantastic and i bought it from bajaj life insurance. The service is fast and on time. Policy coverage is high and claims are even better. The internet portal is very simple to use and anybody can access it easily.
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