A Review on Bajaj Allianz eTouch Online Term Insurance Plan

Bajaj Allianz eTouch Online term Plan is a complete protection plan that is structured to safeguard the future of your loved ones from future uncertainties of life. This is a regular premium paying pure term plan that also provides health cover. The plan provides life cover along with the combined benefits of accidental death and disability (total and/or permanent), as well as critical illness. Moreover, waiver of premium rider is one of the many add-on benefits offered by this online term plan.

Bajaj Allianz eTouch plan comes with 4 variants:

• Shield
• Shield Plus
• Shield Super
• Shield Supreme

Advantages of Bajaj Allianz eTouch Online Term Plan 

• Comprehensive Life Cover: The plan provides comprehensive protection to the policyholder.
• Rider benefits: In order to enhance the protection, the insured can choose from the additional rider option available with the plan.
• Customizable Payout options: The policy provides an option to the beneficiary to avail the policy benefits in a lump-sum amount or in monthly installments.
• Premium Rebate for non-smokers: The plan provides a lower premium rate for those who lead a healthy lifestyle.

The below table shows the eligibility criteria and other details of the policy:

The key Features of Different Variants of Bajaj Allianz eTouch plan

Shield- The variant Shield provides life coverage plus waiver of premium benefit to the insured in case of accidental total permanent disability. Under shield, the death benefit is payable in case of the demise of the life assured. As soon as the sum assured on death is paid out to the beneficiary of the policy, the policy terminates.

Shield Plus- Shield Plus provides life coverage plus waiver of premium benefit to the insured in case of accidental total permanent disability. Under shield Plus the benefit is payable in case-

• In case of ATPD of the insured person

1)  An amount equal to the sum assured will be paid as Accidental Total Permanent Disability or ATPD benefit. The payable amount is Subject to a maximum of Rs.2 crore.

2)  All future premiums under the policy will be waived off and the policy will continue.

• In the case of demise of the life assured the beneficiary of the policy will be payable of death benefit and the policy will terminate.

Shield Super- The variant Shield Super offers life coverage as well as Accidental death benefit cover, Accidental total permanent disability cover and the waiver premium benefits.

Under Shield Super, the benefits are payable:

• In case of accidental total permanent disability:
  • An amount equal to the sum assured will be payable as ATPD benefit (Subject to a maximum of Rs2crore)
  • The entire future premium under the policy will be waived off and the policy will continue along with its all remaining benefits.
• In case of death of the policyholder due to an accident:
  • Sum assured on death plus an amount is equal to the sum assured, which is the maximum of Rs2 crore will be paid as an accidental death benefit and the policy will be terminated.
  • In the case of demise of the life insured the sum assured as death benefit will be paid and the policy will be terminated.

Shield Supreme- The Shield Supreme variant offers accelerated critical illness benefit along with the ATPD benefit and the waiver of premium benefit in case of Accidental disabilities or Critical Illness (CI).

Under this variant, the benefits are payable:-

• If the insured person is diagnosed with critical illness, the benefits payable will be
• In case the Critical Illness requires Angioplasty, then a fixed Accelerated Critical illness (ACI) benefit is paid of Rs5,00,000. if Angioplasty is done for Critical Illness, then WOP is not applicable. Nevertheless, the policy will continue with other benefits, including the rest amount of ACI benefit for the rest of CI’s covers
• In case of critical illness:
  • 75% of the sum assured as ACI benefit subject to a maximum of Rs75,00,000 will be paid to the insured person unless any ACI benefit for Angioplasty has already been paid.
  • 75% of the sum assured subject to maximum Rs75,00,000 and minimum Rs5,00,000 will be paid as remaining ACI benefit in case the benefit under ACI has already been paid for Angioplasty before.
  • All future premiums will be waived off once the ACI benefits are paid and the policy will continue with all its remaining benefits.
• In case of ATPD of the policyholder:
  • An amount equal to the sum assured will be payable as ATPD benefit (Subject to a maximum of Rs.2crore).
  • The entire future premium under the policy will be waived off and the policy will continue along with its all remaining benefits.
• On the demise of the insured person, the respective benefits will be paid and the policy will terminate.
  • If the ACI benefit has already been paid, then the death benefit minus the amount of Accelerated Critical Illness benefit already paid will be paid out to the beneficiary of the policy.
  • In case the ACI benefit has not been paid earlier than the sum assured amount on death will be payable to the insured person.

As it is an online term plan of Bajaj Allianz life insurance, this plan is time-convenient and saves you from the hassle of paperwork. To sum up, Bajaj Allianz eTouch online term insurance plan is a complete life insurance solution that focuses on providing a complete protection against the 3 Ds of life- Death, Disease, and Disability.

You may also like to read: 10 Reasons To Get Term Life Insurance – Online!