TATA AIA Life vs Bajaj Allianz

Sampoorna Raksha Promise
Premium starts ₹982/month
Max Coverage Upto
100 yrs
Claim Settlement Ratio
99.4%
Average Claim Trend
99.18%
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VS
Bajaj Life eTouch II
Premium starts ₹930/month
Max Coverage Upto
85 yrs
Claim Settlement Ratio
99.3%
Average Claim Trend
99.19%
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₹1 Crore Life cover starting from +
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Compare TATA AIA Life Insurance and Bajaj Allianz Life Insurance to check which insurance provider offers the best term insurance plan in India 2026. This comparison is made by considering factors such as claim settlement ratios, solvency ratios, premium rates, and personal insurance needs. 

Which is Better – Tata AIA Life or Bajaj Allianz Life?

Both insurances are overseen by the Insurance Regulatory and Development Authority of India, or the IRDAI, and offer term insurance products and services that provide complete financial protection to policyholder’s families. Your selection depends on your coverage needs.

  • Choose Tata AIA Life if you prioritise a financially strong insurer that offers wellness incentives, speedy claim payouts, and responsive claims service.

  • Choose Bajaj Life if you want affordable, innovation-led term plans with flexible structures, benefits like Return of Mortality Charges (RoMC), and specialised coverage for individuals with controlled diabetes (Sub-8 HbA1c).

Both insurance companies offer good term life insurance. Tata AIA Life focuses on structured plans with lots of benefits, while Bajaj Allianz Life is more interested in plans that can be changed and tailored to fit your needs.

Tata AIA Life vs Bajaj Allianz Life: A Comparison Table:

This table compares Tata AIA and Bajaj Allianz Life insurance based on information that is available to the public.

Features Tata AIA Life Insurance Bajaj Allianz Life Insurance
Claim Settlement Ratio (FY 2024–25) 99.41% 99.29%
Solvency Ratio 1.93  ~5.16
Entry Age for Term Plans 18 to 65 years 18 to 65 years
Maximum Coverage Up to Up to 100 years old Up to 85 years old
Riders Available Accidental Death Benefit
Accidental Death & Dismemberment Rider
Critical Illness Rider
Premium Waiver
Terminal Illness Benefit 
Accidental Death Benefit
Accidental permanent total
Partial disability benefit rider
Critical illness cover 
Waiver of premium benefit
Family protect rider
Premium Payment Options Yearly / Half Yearly / Quarterly /
Monthly / Single Pay
Yearly / Half Yearly / Quarterly / Monthly
Buy Online  Yes Yes

Note: Information based on publicly available insurer disclosures and IRDAI reports.

Term Insurance Plans Offered

Tata AIA Life Insurance and Bajaj Allianz Life Insurance offer the following term insurance plans:

Tata AIA Life Insurance Plans

  • Tata AIA Sampoorna Raksha Promise: Ideal for sole breadwinners who need premium protection cover upon maturity.

  • Tata AIA InstaProtect: This term plan is designed for digitally savvy consumers, young families, and parents who need term life coverage with additional benefits for health and wellness.

  • Tata AIA Maha Raksha Supreme: Ideal for a person who wants a high-sum assured plan with premium discounts, rider options, and enhanced protection.

  • Tata AIA Saral Jeevan Bima: Suitable for those with moderate income (particularly low-income groups) and the ones seeking a simple term plan that provides basic life cover.

  • Tata AIA Shubh Shakti: It is a term insurance plan that is designed for women. It also comes with benefits such as critical illness riders and reward points, thereby securing their financial future.

  • Tata AIA Shubh Shakti Select: An enhanced version of Tata AIA Life Insurance’s Shubh Shakti policy available for women, allowing for flexibility through added riders and satisfying needs in significant stages of life such as marriage and childbirth.

Bajaj Allianz Life Insurance Plans

  • Bajaj eTouch II: It is ideal for salaried individuals, young professionals, and newlyweds who want benefits for terminal illness, disability, and premium payout options.

  • Bajaj iSecure II: It is ideal for small business owners, self-employed professionals, or gig workers, and who seek joint life coverage at a low cost.

  • Bajaj Superwoman: It is a term plan for working women who have family responsibilities on them. It covers health and childcare benefits to help women at every stage.

  • Bajaj Life Smart Protection Goal: This plan is for breadwinners, debt holders, and those who want a critical illness coverage rider. 

  • Bajaj Life Diabetic Term Plan II Sub 8 HbA1c: It is for someone with Type 2 diabetes or pre-diabetes who has an HbA1c level of 8% or lower.

  • Bajaj Saral Jeevan Bima: It is suitable for first-time buyers, blue-collar workers, self-employed individuals, or someone who wants a standard term plan with basic coverage.

Premium Comparison (Illustrative Example)
Based on current online term insurance calculators, the following comparison presents an indicative view of monthly premiums for the following sample customer profile:

  • Age: 23 years

  • Gender: Male

  • Smoker: No

  • Education: Graduate 

  • Occupation Type: Salaried

  • Sum Assured: ₹1 Crore

  • Annual Income: ₹8 lakh to ₹10 lakh

  • Policy Term: 60 years 

Insurer Approx. Premium (Monthly)
Tata AIA Sampoorna Raksha Promise  ₹671
Bajaj Life eTouch II ₹799

*The real premium varies according to age, health status, policy duration, and chosen riders.

Information sourced from Policybazaar’s website 

Claim Settlement Analysis

The claim settlement ratio shows how many claims the insurer settled in a year.

  • Tata AIA Life Insurance has performed well and has a claim settlement ratio of about 99.41%, indicating that claims are settled quickly and efficiently.

  • Bajaj Allianz Life Insurance has kept up its good record. This is evidenced by a claim settlement ratio of 99.29%.

Who Should Pick Which Insurance Company?

Here are some things to consider when looking for the best insurance company for yourself:

Choose Tata AIA Life if:

  • You want a full-term plan with many options for benefits.

  • You need life insurance that lasts a long time and pays out benefits for a long time.

  • You want a basic term cover that also covers health or wellness.

Choose Bajaj Allianz Life if:

  • You want plans with a lot of rider options.

  • You would like a term plan that offers flexibility to adjust its features to your needs.

  • You are looking for insurance companies with a favourable reputation that offer better services in handling claims and flexible terms.

Final Suggestion

Both Tata AIA and Bajaj Allianz Life Insurance provide plans that are totally reliable. If you need a long-term plan, you can opt for Tata AIA Life Insurance, which has well-organised plans that come with all-inclusive offers. In addition, Bajaj Allianz Life Insurance has flexible plans that come with so many features and benefits.

FAQs

  • Q: Which is better, Tata AIA or Bajaj life insurance?

    Ans: You can choose an insurer that suits your needs. The main parameter is Claim Settlement Ratio (CSR) where the Tata life has a CSR of 99.41% and Bajaj life has a CSR of 99.29.
  • Q: Which company is best for term insurance?

    Ans: With a good claim settlement ratio of 99.4% in the financial year of 2024-25, Tata AIA Life insurance is one of the most trusted insurance companies.
exclusive-benefit

˜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 Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.


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