Bajaj Allianz Life e-Touch Term is a complete protection plan that safeguards you and your family members from different uncertainties in life. It is a perfect solution to fulfill your family’s dreams without any compromises in case of an unfortunate event.Read more
+Tax benefit is subject to changes in tax laws.
++All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
This term insurance plan offers financial security for your life to cover terminal illness, disability, and death.
Financial safety net for your life to cover terminal illness, disability, and death
Flexibility to pay premium amounts throughout the policy tenure or for a limited time or till your retirement age i.e., 60 years
Get 105% or 120% of your total premium amount paid back as a maturity benefit
Additional payout in case of death because of accident
Option to choose how your family members receive the payout in case of your absence, as a lump sum amount or as a combination of monthly and lump sum income.
Option to exit early and receive your premium paid back in form of Early Exit Value
Premium Break or Holiday option with which you can skip your premium amount for 1, 2, or 3 years during the PPT.
Get Tax benefits as per the prevailing Income Tax Laws, 1961.
ABD is available with Life Shield Plus
Maturity Benefit is available with Life Shield Return of Premium Benefit
Early Exit value is available with Life Shield & Shield Plus
Step 1: Choose Your Plan Variant
|Plan Variant||Terminal Illness||Death Benefit||Accidental Death||Waiver of Premium benefit on ATPD/TI||Return of Premiums|
|Life Shield Plus||Yes||Yes||Yes||Yes||No|
|Life Shield ROP||Yes||Yes||No||Yes||Yes|
Step 2: Choose the sum assured amount based on the level of protection you need to protect your family’s future. If you have purchased Life Shield Plus Variant, you will choose the Accidental Death Benefit (ADB) Sum Assured which is paid with the death benefit to your family in case of demise because of an accident.
Step 3: Choose the payment option of the death benefit
One-time lump sum payment
Partly as a lump sum and partly as monthly income for 60 months
Step 4: Choose the Premium Payment Term and Policy Term
Step 5: Choose the frequency of paying premium amounts
Benefits paid on life assured’s death during the policy term. Your nominee/legal heir will receive the sum assured chosen at the time of policy commencement. The plan will terminate on death.
Terminal Illness Benefit
Benefit paid in case the life assured gets diagnosed with the terminal illness during the policy tenure
If the SA chosen is <= Rs. 2 Crores: Pay the sum assured and the plan will terminate
If the SA chosen is >2 Crore: Pay 2 Crores and the plan will last with a balance SA (of less than 2 Crores). This balance SA will be paid on the life assured’s death and the plan will terminate on the demise of the life assured.
Waiver of Premium (WOP) Benefit on TI/ATPD
The future premium will be waived off under the plan:
If the life assured get diagnosed with ATPD
If the life assured gets diagnosed with TI and the chosen SA is more than Rs. 2 Crore
*TI- Terminal Illness
*SA- Sum Assured
*ATPD- Accidental Total Permanent Disability
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Benefits paid on life assured’s death during the policy tenure. Your legal heir will get the sum assured and the policy terminates on death.
Terminal Illness Benefit
Benefit paid when the life assured gets diagnosed with TI during the policy tenure
If the SA chosen is < or = Rs. 2 Crore
If the SA chosen is > 2 Crore
WOP Benefit on TI/ATPD
All the future premiums will be waived off under this plan:
If the life assured gets diagnosed with ATPD, the plan will continue for the current terminal illness and death benefit.
If the life assured gets diagnosed with TI and selected SA is more than Rs 2 Crores, the plan will continue for the current death benefit. If the policyholder outlives the policy term, maturity benefit will be paid.
Benefit paid if the life assured survives till the maturity date and no death claim has been made before the maturity date. Your payout options for maturity benefits are:
Lump sum payment
|Life Shield & Life Shield Plus|
|Cover till 99 years of age||Cover till 99 years of age||Life Shield ROP|
|Entry Age||Minimum: 18 years
Maximum: 65 years
|Maturity Age||99 years||Minimum: 28 years
Maximum: 85 years
|Minimum: 28 years
Maximum: 85 years
|Policy Term||34 – 81 years||10-67 years||10-40 years|
|Sum Assured||Minimum: 50 Lakhs
Maximum: No Limit
|Premium Payment Frequency||Yearly/Half-yearly/Quarterly/ Monthly|
Special 1st-year discounts for salaried customers: Discount of 5% on 1st-year premium
Special 1st-year discounts for fully COVID vaccinated customers: Discount of Rs. 500 on 1st-year premium
Discounts throughout Premium payment term for AutoPay customers - 1% discount throughout PPT
Note: An auto-pay rebate will be available for all policies where premium payment is under the auto-debit process (as allowed by RBI from time to time).
Free Look Period
If you are not satisfied with the T&Cs of the policy, then within 15 days of receiving the policy receipt and 30 days in case of e-policies, you have the option to review all details again. If you are still not satisfied, then you have the option to return the plan mentioning the reasons for your objections. You will get a refund of all the premium amounts paid minus the proportionate amount of premium.
If you fail to pay the premium amount on time, you will be provided a grace period of 30 days for all premium payment frequencies, apart from monthly and 15 days for monthly payment frequency to pay the due amount of premium.
In case your policy gets lapsed or converted to a paid-up plan because of non-payment of premiums after the grace time, you have the option to revive the policy by writing an application within 5 years from the due date of the 1st unpaid premium.
If the life assured dies because of suicide within 12 months from the risk commencement or the date of current policy revival, whichever is later, then the beneficiary/nominee of the life assured shall be eligible to get a higher of 80 percent of the total premium paid or the surrender amount as on the death date, provided the plan is active.
Accidental Death Benefit (ADB) will not be paid in the below cases if death occurs:
because of any criminal intent
Under the influence of drugs or alcohol
Taking part in any military, naval, or air force
Due to suicide
Because of any hazardous activity
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