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Protecting your family's financial future starts with choosing the right term insurance. This decision is very important because it will determine the financial condition of your family after your unfortunate demise. The Bajaj 50 Lakh Term Insurance plan is an excellent option, offering a Rs. 50 Lakhs death benefit to your nominee if you pass away during the policy term.
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Bajaj Allianz Life Insurance provides this coverage at affordable premiums, ensuring your loved ones are financially secure. Here are the details of the Bajaj 50 Lakh Term Insurance.
Term Plans
The Bajaj 50 Lakh Term Insurance Plan provides your family financial security in the unfortunate case of your demise. This term plan, offered by Bajaj Allianz Life Insurance, helps your nominees by providing a lump sum death benefit of Rs. 50 Lakhs. With this Bajaj Term Insurance plan, you can ensure that your loved ones have a financially protected future.
You must buy Term Insurance from Bajaj Allianz Life Insurance because of these below mentioned reasons:
| Bajaj Allianz Life Insurance Highlights | |
| Bajaj Allianz Life Insurance Claim Settlement Ratio (CSR) | 99.23% (FY 2023-24) |
| Bajaj Allianz Life Insurance Solvency Ratio | 4.51 (FY 2023-24) |
| Bajaj Allianz Life Insurance Riders | Critical illness rider, Hospital cash rider, Waiver of Premium rider, Accidental death benefit rider |
| Amount of Individual Claims Paid By Bajaj Allianz Life Insurance | Rs. 6,418.97 Crores (from FY 2006-07 to FY 2023-24) |
| Number of lives covered by Bajaj Allianz Life Insurance | 4.19 Crores |
| CARE Rating for Bajaj Allianz Life Insurance | AAA; Stable Rating by CARE |
| Claim Approval of Bajaj Allianz Life Insurance | Approval Done Within 1 Day* |
*Note: 1 day is counted from the date of intimation of claim (before 3 PM, on a working day)
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Here are some of the key benefits of buying the Bajaj Term Insurance plan for 50 Lakh life cover:
Budget-Friendly Coverage: The 50 Lakh term insurance plan by Bajaj Allianz Life Insurance is very affordable, and provides basic term plan benefits at much lower premiums, starting at Rs. 427/month.
*Note: This premium is for 18-year old male (non-smoker; earns 5 Lakhs per year) who bought Bajaj 50 Lakh term plan for 20 year policy term.
Added Protection to Cover Additional Risks: Bajaj 50 Lakh term insurance plan also includes extra benefits to cover additional risks, through riders like terminal illness benefit, accidental death benefit, critical illness benefit, and waiver of premium benefit.
Financial Support for Your Loved Ones: Ensure that your loved ones’ financial requirements are met if you suddenly pass away. The death benefit of the Bajaj 50 Lakh term insurance plan can be utilized by them to maintain a comfortable lifestyle, settle existing loans/debts and cover household expenses.
Easy Online Purchase: Buying the Bajaj 50 Lakh Term Insurance plan online is simple and convenient and does not require you to physically visit the insurer branch or wait in queues. You can buy the plan easily, from the comfort of your home, with the help of Policybazaar's website or app.
Flexible Payouts: You can further choose the mode of death benefit payout as a lump sum or monthly income payments with this Bajaj 50 Lakh term insurance plan, giving your loved ones control over managing their expenses in the future.
Tax Benefits: Enjoy tax benefits with the Bajaj 50 Lakh term insurance plan under sections 80C and 10(10D) of the Income Tax Act, 1961.
*Note: You can use the term insurance calculator for quickly estimating your term insurance premium. You can also use the HLV Calculator to find out the most suitable life cover for your family’s security.
The Bajaj 50 Lakh Term Insurance that you can buy online from Policybazaar is Bajaj Allianz Life eTouch.
The Bajaj Allianz Life eTouch online term plan ensures your family's financial security if you pass away unfortunately during the policy term. It offers comprehensive coverage at affordable premiums, making it accessible for policyholders. Choose from three plan variants—Life Shield, Life Shield Pro, and Life Shield ROP—to meet your needs and life goals. Whether you want basic coverage, enhanced protection, or a return of premiums, the Bajaj eTouch plan offers flexible solutions to safeguard your family's financial future.
Here are some reasons why you should consider buying the Bajaj Allianz Life eTouch plan:
Get comprehensive life cover for yourself and your family with this life insurance plan.
Choose from three enhanced protection options:
Bajaj Allianz eTouch Term Plan – Life Shield
Bajaj Allianz eTouch Term Plan – Life Shield Plus
Bajaj Allianz eTouch Term Plan – Life Shield ROP
Receive maturity benefits if you outlive the policy term.
Get an extra payout for accidental death with the accidental death benefit rider.
Exit early and get back all the premiums paid if you no longer need the term plan.
Use the Premium Holiday feature to skip premiums for 1, 2, or 3 years during the payment term.
Women can receive up to Rs. 36,500 in free health services each year, including check-ups, screenings, and consultations.
Non-tobacco users enjoy lower premiums for a healthy lifestyle.
Claim tax benefits under the Income Tax Act of 1961.
The eligibility conditions to buy Bajaj Allianz Life eTouch Online Term Insurance Plan are as follows:
| Criteria | Minimum | Maximum |
| Entry Age | 18 years | 65 years |
| Maturity Age | 28 years | 99 years |
| Policy Term | 10 years | 99 years |
| Sum Assured | 50 Lacs | No Limit |
| Premium Payment Terms | Regular and Limited Pay | |
| Premium Payment Modes | Monthly, Quarterly, Half-yearly, and Yearly | |
Young individuals
Self-employed/Business Owners
People with loans/debts
Newly married individuals
Parents with children
Sole breadwinner
Here are the steps to buy a 50 Lakh term insurance plan from Policybazaar:
Step 1: Visit the official website of Policybazaar and then, click on ‘Term Insurance’
Step 2: Enter your personal information, like Name, DoB, and contact number and click on ‘View Plans’.
Step 3: Enter additional information regarding smoking habits, annual income, type of occupation, and educational qualifications.
*Do not forget to select 50 Lakhs as your life cover
Step 4: A list of all available term insurance plans will be displayed. Select the Bajaj Allianz Term Insurance plan from that list.
Step 5: Pay using your choice of payment method to complete the term plan purchase.
You can contact the below mentioned helpline numbers:
To Buy New Policy: Call 1800-208-8787.
For Support with Existing Bookings: Reach out to 1800-258-5970.
For Claim Support: Call 1800-258-5881 or manage your claims by logging into 'My Account' on the Policybazaar website.
Policybazaar App: Download the app for quick customer support and to handle any insurance-related questions.
*Note: You can easily contact Policybazaar Insurance Advisor for any insurance-related help/guidance or to clear doubts/confusion.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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