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A Review Of Bajaj Allianz Life Insurance

“I recently bought the Bajaj Allianz term plan from Policybazaar and it has been the best decision I have made in a while. I feel secure knowing that my family will be taken care of in my absence.” – Deshmukh, Ghaziabad

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Deshmukh, a resident of Ghaziabad, made a wise decision by purchasing the Bajaj Allianz Life Insurance's term plan to safeguard his family from unexpected future events. Bajaj Allianz Life Insurance offers flexible plan benefits that adapt to your lifestyle and needs, ensuring the safety and well-being of your loved ones at unforeseen events.

Let’s understand the various features and benefits of Bajaj Allianz Life Insurance.

About Bajaj Allianz Life Insurance

Bajaj Allianz Limited is a joint venture between Bajaj Finserv Limited and Allianz SE. It is a leading company in the insurance market, offering a wide array of life and general insurance products, backed by excellent service and post-sales support. Bajaj Allianz Life Insurance provides a diverse range of competitively priced insurance solutions to meet individual needs comprehensively.

Let’s learn more about Bajaj Allianz Life Insurance and why you should consider buying its term insurance plans.

one crore term plan
plus

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day+

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day+

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day+

Why Should You Consider Buying Bajaj Allianz Life Insurance?

Bajaj Allianz Life Insurance is known for its flexible plans that can be customized to match the life goals of policyholders.

Below are some reasons why you can consider buying the Bajaj Allianz Life Insurance:

  • This term life insurance plan offers pure life cover that will financially secure your and your loved ones during unforeseen events, such as disease, disability or death.

  • The Bajaj Allianz Life Insurance plan also provides return of premiums in cases like maturity, diagnosis of terminal illness, as death benefit, etc.

  • There is an option to receive the maturity benefit as lump sum payout or installment payout, according to your suitability.

  • Bajaj Allianz Life Insurance also offers an auto-pay rebate option for policies where premiums are paid through auto-debit. This rebate is 1% of the premium and applies throughout the premium payment term.

Which Is The Best Bajaj Allianz Life Insurance Plan ?

The Bajaj Allianz Life eTouch plan is an individual, non-linked and non-participating term insurance plan. It offers coverage for life and also provides benefits for accidental death, total permanent disability, critical illness, and waiver of premium, depending on the variant chosen by you. With the flexibility to opt from amongst 3 variants, you can customize your plan and suit it to your own preference and ambitions.

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What Are The Key Benefits Of Bajaj Allianz Life eTouch Plan?

Below mentioned are the key benefits of the Bajaj Allianz Life eTouch plan:

  • There are 3 plan options in the Bajaj Allianz Life eTouch plan amongst which you can choose from:

    • Life Shield

    • Life Shield Plus

    • Life Shield ROP (Return of Premium)

  • You have the flexibility to pay insurance premiums throughout the entire policy duration, for a limited number of years, or until you reach the age of 60.

  • Upon maturity of the policy, you will receive either 105% or 120% of the total premiums you have paid.

  • In the event of accidental death, an additional payout will be given.

  • You can choose how your family receives the insurance benefit if something happens to you: either as a lump sum or a combination of a lump sum and monthly income.

  • If you no longer need the insurance coverage, you can exit early and receive the premiums you have paid.

  • There is an option to take a premium holiday, where you can skip paying your premiums for 1, 2, or 3 years, during the premium payment period.

  • You can enjoy tax benefits on the premiums you pay and the benefits your family receives, as per the Income Tax Act of 1961.

  • You can upgrade your life stage during certain life events, like marriage, birth/adoption of up to 2 children, home loan and child’s education loan. 

**The Life Shield ROP variant offers a Maturity Benefit.

The Life Shield Plus variant provides an Accidental Death Benefit.

Both the Life Shield and Life Shield Plus variants offer an Early Exit Value.

What is the Eligibility Criteria to Buy the Bajaj Allianz Life eTouch Plan?

The eligibility criteria for buying the Bajaj Allianz Life eTouch Plan is mentioned below:

Parameters  Life Shield Life Shield Plus Life Shield ROP
Entry Age  18 - 65 years
Maturity Age  99 years 99 years  85 years
Policy Term  Min. 34 years Max. 81 years Min. 10 years Max 67 years Min. 10 years Max. 40 years
Sum Assured  Min. Rs. 50 Lakhs Max. Rs. 10 Crores (Rs. 2 Crores, in case of Rider)
Premium Payment Modes Annually, Half-yearly, Quarterly & Monthly
Life Stage Upgrade Percentage
  • Marriage - Maximum increase of 50% of SA, up to Rs. 50 Lakhs
  • Birth/Adoption of 1st Child - Maximum increase of 25% of SA, up to Rs. 25 Lakhs
  • Birth/Adoption of 2nd Child - Maximum increase of 25% of SA, up to Rs. 25 Lakhs
  • Home Loan - Maximum increase of 25% of SA, up to Rs. 50 Lakhs
  • Child’s Education Loan - Maximum increase of 25% of SA, up to Rs. 25 Lakhs

Wrapping It Up!

Deshmukh’s decision to buy the Bajaj Allianz Life eTouch Plan has helped him secure his loved ones against several financial obligations of the future. With Bajaj Allianz Life eTouch’s flexible features and the Critical Illness and Accidental Total Permanent Disability benefits, he is even more prepared for greater risks in the upcoming future.

FAQs

  • Q: Can I buy a policy from Bajaj Allianz Life Insurance from Policybazaar?

    Ans: Yes, you can easily purchase Bajaj Allianz Life Insurance from the Life Insurance page of Policybazaar and avail extra discounts and assistance.
  • Q: Do Bajaj Allianz Life Insurance policies provide tax benefits?

    Ans: Yes, Bajaj Allianz Life Insurance policies offer tax benefits under sections 80C and 10(10D) of the Income Tax Act, providing potential tax exemptions.
  • Q: What are the plan options available in Bajaj Allianz Life eTouch Plan?

    Ans: The plan options include Life Shield, Life Shield Plus, and Life Shield ROP.
  • Q: During which Life Stages can you increase your SA percentages in the Bajaj Allianz Life eTouch Plan?

    Ans: During marriage, birth/adoption of up to 2 children, home loan, and child’s education loan, you can increase your SA percentages in the Bajaj Allianz Life eTouch Plan.
  • Q: What is the minimum entry age for the Bajaj Allianz Life Insurance?

    Ans: The minimum entry age for Bajaj Allianz Life Insurance is 18 years.

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