Bajaj Allianz Life Family Protect Rider

Bajaj Allianz life insurance Family Protect or the Parent Income Protect Rider is a newly launched optional rider benefit that you can add to your base Bajaj Allianz term insurance to provide an extra layer of security and enhance the benefits of the base plan.

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₹1 Crore Life cover starting from ₹478/month⁺

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Let us take a look at how adding this rider to your base plan can benefit you:

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⁺

What is the importance of Bajaj Allianz's parent income protection rider?

The Bajaj Allianz Parent Income Protect Rider is a term insurance rider that is important in securing your family's financial future by safeguarding your income against unexpected events. As the primary breadwinner, financial support is essential to your family's security and well-being. This rider provides an added layer of protection to ensure that your family's financial stability is maintained even if you cannot work due to unforeseen circumstances. By adding this rider into your base term insurance plan, you can lead a stress free life knowing that your parents will lead a financially secure life, even in the event of your unfortunate demise.

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₹1 CRORE

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Get an online discount of upto 15%^#

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⁺Standard T&C Applied

What are the Benefits of the Bajaj Allianz Family Protect Rider?

Here is how adding the Bajaj Allianz Parent Income Protect rider can benefit you and your parents:

You can opt for the Parent Income Protect rider for a single or both parents together.
The benefit under this rider will be payable in case of the Death or the Accidental total and permanent disability of the life assured, whichever occurs earlier. The rider will be payable as follows:
Lumpsum amount equal to 105% of Total premiums paid till date as per the option will be paid immediately; plus
A monthly income as a percentage (0.1% to 0.5%) of Rider Sum Assured as opted at inception will be paid to the surviving parent/(s) for the rest of their life

* In case the parent’s suffer an unfortunate death before the death of the policyholder, no benefits will be payable.

How Can I Avail of the Bajaj Allianz Parent Income Protect Rider?

You can add this Bajaj Allianz Family Protect Rider to your base term or life insurance plans when buying the insurance or at any of the policy anniversaries. The availability of these riders depends on

What are the Eligibility Conditions for the Bajaj Parent Income Protect Rider?

Let us take a look at the eligibility requirements to buy the Bajaj Allianz Family Protect Rider:

Parameters	Minimum	Maximum
Entry Age (Life Assured)	18 years	65 years
Entry Age (Rider Life Assured)	35 years	99 years
Rider Premium Pay Term	1-20 years Pay till 60 years
Maximum Rider Tenure	57 years
Maturity Age (Life Assured)	19 years	75 years
Sum Assured	50,000	No limit

* You can use the term insurance calculator to check the premiums applicable to your profile for the desired life cover.

What are the Important Details of the Bajaj Allianz Family Protect Rider?

Here are some important details to keep in mind about the Bajaj Parent Income Protect Rider:

The rider will be triggered for a payout in case of whatever occurs earlier, the death or the accidental total permanent disability of the rider life assured.
The rider's life assured and the base life assured will be the same under the policy.
The rider premiums will be collected along the base premium of this Bajaj Allianz life insurance policy, and will depend on the rider sum assured, rider policy term, and the rider premium pay term.

How Can I Get the Bajaj Parent Income Protect Rider in India?

Here is how you can get the benefits of the Bajaj Allianz Parent Income Protect Rider with your Bajaj Allianz term insurance plan in India:

Step 1: Visit the term insurance page of Policybazaar

Step 2: Fill out the required details like name, gender, and contact information

Step 3: Select the right annual income, educational qualifications, occupation types, and smoking habits

Step 4: Click on the Bajaj Allianz eTouch term plan and select the Parent Income Protect Rider option

Step 5: Review the plan and benefit details and proceed to pay

Note: You should also check the term life insurance benefits if you are planning to purchase the term insurance plan.

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˜Top plans are based on annualized premium, for bookings made through https://www.policybazaar.com in FY 25.

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

+Rs. 487/month (Rs.16/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 38 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.

+Rs. 820/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 38 years of age.

+Rs. 1,443/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 38 years of age.

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