Bajaj Allianz Life eTouch Online Term Plan

Key Features of Bajaj Allianz Life eTouch Online Term Plan

This term plan offered by Bajaj Allianz Life Insurance has the following key features:

• Get comprehensive life cover for yourself and your family

• Choose to receive the policy benefits in a lump sum or monthly instalments

• Choose from among 3 plan variants and get enhanced protection

• Non-tobacco users will have to pay lower premiums for leading healthy lifestyles

• Claim tax benefits as per the prevailing tax laws under the Income Tax Act of 1961

• Receive the total premiums paid at the end of the policy as maturity benefits.

• Receive extra payout upon death due to accident, with the accidental death benefit rider

• In case of diagnosis of a critical illness covered under the plan (60 Critical Illnesses covered), the insurer will payout an amount of 5 Lacs.

• With the Premium Holiday feature, skip premiums for 1, 2 or 3 years during the premium payment term

• With the Early Exit Benefit offered by the Bajaj Life Insurance company, you can exit the plan at an early stage and receive double the premiums paid towards keeping the policy active.

Benefits of Bajaj Allianz Life eTouch Online Term Plan

Let us see the benefits payable under each term plan option available under this Bajaj Allianz Term Insurance plan:

1. Bajaj Allianz eTouch Term Plan – Life Shield

   • In case of the policyholder’s accidental total and permanent disability, all the remaining premiums will be waived, and the policy will terminate.

   • In case the policyholder, unfortunately, dies during the policy term, the death benefit will be paid, and the policy will terminate.

   • You can add the Bajaj Family Protect Rider to your base plan at the time of purchase or at the policy anniversary to provide an extra layer of financial protection for your family.

   • Policyholder will receive the terminal illness benefit upon being diagnosed with terminal illness.

     • If the chosen Sum Assured is up to 2 crores:

       • Insurer will pay the Sum Assured.

       • The policy will terminate.

     • If the chosen Sum Assured is over 2 crores:

       • Insurer will pay 2 crores.

       • The policy will continue with the remaining Sum Assured.

       • The remaining Sum Assured will be paid on the death of the Life Assured.

       • The policy will terminate upon the death of the Life Assured.

2. Bajaj Allianz eTouch Term Plan – Life Shield Plus

   • On the policyholder’s death during the policy term, the death benefit will be paid to the policyholder, and the policy will terminate.

   • On the accidental total permanent disability of the policyholder, the insurer will:

     • Pay an amount equal to the sum assured as ATPD benefit (maximum limit Rs. 2 Crores).

     • All the remaining premiums will be waived, and the policy will continue its coverage.

   • Policyholder will also receive the terminal illness benefit in this variant.

     • If the chosen Sum Assured is up to 2 crores:

       • The insurer will pay the entire Sum Assured.

       • The policy will terminate.

     • If the chosen Sum Assured is over 2 crores:

       • The insurer will pay 2 crores.

       • The remaining Sum Assured will be paid on the death of the Life Assured.

       • The policy will terminate upon the death of the Life Assured.

3. Bajaj Allianz eTouch Term Plan – Life Shield ROP

   • Policyholder’s nominee will receive the Sum Assured chosen at inception; the policy will terminate upon death.

   • If the Sum Assured is up to 2 crores, insurer will pay the Sum Assured, and the policy will terminate. If the Sum Assured is over 2 crores, insurer will pay 2 crores, and the policy continues with the remaining Sum Assured, payable upon death, after which the policy will terminate.

   • WOP Benefit on ATPD/TI:

     • Future premiums will be waived if the Life Assured is diagnosed with Accidental Total Permanent Disability or Terminal Illness.

     • For ATPD, the policy continues with existing Death and Terminal Illness benefits.

     • For TI with Sum Assured over 2 crores, the policy continues with the remaining Death Benefit.

     • If the Life Assured survives until the end of the term, the Maturity Benefit will be payable.

   • Maturity Benefit:

     • If no claims are paid before maturity, you will receive the total premiums paid as a lump sum, and the policy will terminate.

     • If the Terminal Illness Benefit is paid before maturity, you will receive a proportionate Maturity Benefit based on the remaining coverage, paid on the maturity date.

   • Early Exit Benefit

     Bajaj Allianz Life Insurance Company now provides a return of double the premiums paid towards the policy with the special exit benefit. The special exit or the early exit benefit allows you to exit the plan early at a specific stage and receive double the premiums paid during the policy term. This feature can be availed for policies with cover till age more than 70 years, and the duration within which you can exit the plan early will be determined by the insurer.

Benefits Offered by Bajaj Allianz eTouch Term Plan

Bajaj Allianz life etouch term plan offers several benefits for its customers:

Free Health Management Services: You can get up to Rs. 31,000 worth of health management services with term insurance for free annually with the Bajaj Allianz Life eTouch term plan. These services include three doctor insta-consultations per month, one health coach (diet and nutrition consultations) per month, one psychologist consultation per month, and 10% network discounts on medicines and lab tests.

Eligibility Criteria of Bajaj Allianz Life eTouch Online Term Plan

The eligibility conditions to buy Bajaj Allianz eTouch Term Plan are as follows:

Conditions in Bajaj Allianz Life eTouch Online Term Plan

The following conditions apply under the Shield Plus, Shield Super, and Shield Supreme variants of this term insurance plan:

1. ATPD Benefit

   The benefit amount of the Bajaj Allianz eTouch term plan will not be paid if the accident occurs before the end of the policy term and the disability happens within 90 days from the date of the accident but after the end of the policy term

2. ADB Benefit

   • In case the policyholder suffers an accident and is totally and permanently disabled and dies within 90 days of the accident, then two separate benefit amounts will be paid, first for ATPD and then for ADB.

   • ADB benefit will not be paid if the accident occurs before the end of the policy and the death occurs before 90 days but after the end of the policy term.

3. Critical Illness Benefit

   The plan offers coverage against 60 critical illnesses with its critical illness rider. On diagnosis of a critical illness covered under the policy, you can receive a benefit payout of 5 Lacs.

4. Parent Income Protect Rider

   The rider will be triggered for a benefit payout in case of death or Accidental Total Permanent Disability of the life assured. The rider will only cover the life assured within the policy, and the premiums for the rider will be payable on top of the policy’s base premium.

What is the Parent Income Protect Rider offered by Bajaj Allianz Life Insurance?

While the parents look after the well-being of their children, when they grow up, it becomes your responsibility to look after your parents as well. With the Bajaj Allianz Life Family Protect Rider, you can cover one or both of your parents within the same rider, and in case of the death or accidental total permanent disability of the life assured:

• A lump sum amount equal to 105% of the total premiums will be payable, plus

• Monthly income as (0.1% to 0.5%) of the rider sum assured will be paid to the surviving parent/s for the rest of their life.

Eligibility Conditions for the Bajaj Parent Income Protect Rider

* No benefits will be payable in case the parents pass away before the death/disability of the life assured.

Policy Details of Bajaj Allianz Life eTouch Online Term Plan

• Free Look Period

  A free look period is provided for the customer to review the details of their Bajaj eTouch term plan and return the plan if unsatisfied with the policy T&Cs. The free look period provided for online purchased policies is 30 days, whereas, for offline purchased policies, it is 15 days.

• Grace Period

  The Bajaj etouch term plan provides a grace period of 15 days for the monthly premium payment mode and 30 days for all the other premium payment modes.

How To Buy Bajaj Allianz Life eTouch Online Term Insurance Plan?

Here is how you can buy Bajaj Allianz Life eTouch Online Term Plan from the comfort of your home:

• Step 1: Go to the term insurance page of Policybazaar

• Step 2: Fill in the required details like name, gender, DOB, and contact information

• Step 3: Enter your educational qualifications, annual income, occupation type, and smoking habits

• Step 4: Select the Bajaj Allianz eTouch term plan proceed to pay

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.