Bajaj Allianz Life eTouch Online Term Plan is a pure risk protection plan that offers financial benefit to the family of the policyholder in case of his/her unfortunate death during the policy term. This plan offers comprehensive cover at affordable premium rates and provides four plan options for the customer to choose as per their suitability. Let us see the various key features and benefits of the Bajaj Allianz Life eTouch Online Term Plan.Read more
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This term plan offered by Bajaj Allianz Life Insurance has the following key features:
Get comprehensive cover for yourself and your family
Choose to receive the policy benefits in a lump sum or monthly instalments
Select the most suitable plan variant from four available options to 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
Let us see the benefits payable under each term plan option available under this Bajaj Allianz Term Insurance plan:
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.
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.
In case the policyholder suffers an ATPD, then
An amount equal to the sum assured (maximum limit Rs. 2 Crores) will be paid as an ATPD benefit.
All the remaining premiums for the policy will be waived, and the policy will continue its coverage.
In case of the life assured’s accidental death, the
The sum assured on death, and
The amount equal to the sum assured will be paid as an accidental death benefit (ADB), and the policy will terminate.
In case of the policyholder’s death due to any other reason than an accident, then the sum assured on death will be paid, and the policy will terminate.
On the diagnosis of a critical illness during the policy term,
If the policyholder needs angioplasty, the insurer will pay the fixed ACI benefit amount of Rs. 5 Lacs. The WOP will not be applicable, but the policy will continue its benefits, and ACI benefits on the diagnosis of other critical illnesses will be paid.
If the policyholder does not require angioplasty and has not availed of angioplasty under the plan before, then 75% of the sum assured will be paid as ACI benefit (maximum limit of 5 Lacs).
If angioplasty has been claimed in the policy before, then the remaining ACI benefit will be paid.
Once the ACI benefit is paid, the future premiums will be waived.
In case of an accidental disability, then,
An amount equal to the sum assured will be paid as an ATPD benefit (maximum limit Rs. 2 Crores).
All the future premiums under the policy will be waived, and the policy will continue as usual.
On the death of the policyholder, then
If the ACI benefit has already been claimed, then the sum assured minus the ACI benefit will be paid to the nominee.
If ACI has not been claimed, then the sum assured on death will be paid.
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The eligibility conditions to buy Bajaj Allianz Life eTouch Online Term Insurance Plan are as follows:
|Entry Age||18 years||55 years|
|Maturity Age||28 years||99 years|
|Policy Term||10 years||81 years|
|Sum Assured||50 Lacs||10 Crores|
|Premium Payment Terms||Regular and Limited Pay|
|Premium Payment Modes||Monthly, quarterly, half-yearly, and yearly|
The following conditions apply under the Shield Plus, Shield Super, and Shield Supreme variants of this term insurance plan:
The benefit amount 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.
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.
Free Look Period
A free look period is provided for the customer to review the details of the policy 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.
The company provides a grace period of 15 days for the monthly premium payment mode and 30 days for all the other premium payment modes.
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
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 online term plan from the list of available plans
Step 5: Proceed to pay
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