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PerplexityThe Bajaj Life Family Protect Rider is designed to provide additional financial protection for your loved ones through a combination of lump sum and monthly income benefits. Available as an add-on to eligible life insurance policies, the rider helps safeguard your family's financial stability in case of the life assured's death or accidental total permanent disability. In this guide, you'll find the rider's features, eligibility criteria, benefits, exclusions, premium details, claim process, and key considerations before purchasing.
Bajaj Life Family Protect Rider is an optional rider that can be attached to an eligible base life insurance policy. It is designed to provide financial support to your family members, such as your spouse, parents, children, or other dependants, in case of your death or accidental total permanent disability (ATPD), depending on the rider terms.
The rider offers a combination of lump sum and monthly income benefits to help beneficiaries manage their ongoing financial needs. It comes with four rider options:
Spouse Care
Parental Care
Child Care
Fam Care
The rider remains active only as long as the base policy remains in force.
Provides an additional layer of family protection: The rider enhances your base life insurance policy by offering extra financial support to your loved ones when they may need it the most.
Lump sum payout for immediate financial needs: A one-time benefit can help your family manage urgent expenses such as loan repayments, household costs, or other financial commitments.
Monthly income support for dependants: Along with the lump sum benefit, the rider can provide a regular monthly income to help your family maintain financial stability over time.
Coverage for accidental total permanent disability: The rider may also provide benefits if an accident permanently affects your ability to earn an income, helping reduce the financial impact on your family.
Multiple family-focused coverage options: You can choose from rider variants designed to provide protection for your spouse, children, parents, or the entire family, depending on your needs.
Flexible premium payment options: The rider offers different premium payment modes, allowing you to choose an option that aligns with your financial planning.
Customisable rider sum assured: The coverage amount can be selected based on your protection requirements, subject to the insurer's eligibility criteria and underwriting guidelines.
The rider provides benefits when the life assured experiences:
Death during the rider term
Accidental Total Permanent Disability (ATPD), whichever occurs first
Financial protection for nominated beneficiaries
Immediate lump sum payout
Monthly income support for a predefined period
Coverage under selected rider options such as spouse, parents, child, or family care
The exact payout structure depends on the rider option chosen at policy inception.
The rider benefit may not be payable in the following situations:
Rider has lapsed due to non-payment of premium
Rider has been terminated or surrendered
Claim event occurs after rider expiry
Base policy is no longer in force
Any exclusions specified under ATPD provisions of the rider contract
Claims falling under policy-specific exclusion clauses
Customers should refer to the official rider policy document for the complete list of exclusions and conditions.
The premium for Bajaj Life Family Protect Rider depends on:
Age of the life assured
Rider option selected
Rider sum assured
Rider term
Premium payment term
Gender
Underwriting assessment
Since premiums vary based on individual factors and insurer underwriting guidelines, there are no standard publicly available premium charts. The exact premium can be obtained through a quote from Bajaj Life or an authorised distributor.
Notify Bajaj Life about the death or ATPD event as soon as possible.
Fill and submit the prescribed rider claim form.
Typical documents may include:
Claim form
Identity proof
Policy documents
Death certificate (for death claims)
Medical records
Disability certificate (for ATPD claims)
Bank account details
Any additional documents requested by the insurer
The insurer reviews the claim and verifies eligibility under rider terms.
Upon approval, the applicable lump sum and monthly income benefits are released to the nominee.
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Here is how adding the Bajaj Life 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.
Let us take a look at the eligibility requirements to buy the Bajaj Life 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 |
|
|
| 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.
Bajaj Life Family Protect Rider is an optional add-on that can be attached to eligible life insurance policies to provide additional financial protection for your family through lump sum and income benefits upon specified covered events.
The rider provides benefits in case of the life assured's death or accidental total permanent disability, helping support eligible family members with financial assistance as per the selected rider option.
You can opt for the rider while purchasing an eligible Bajaj Life insurance policy or, where permitted, during specific policy servicing stages, subject to the insurer's terms and underwriting requirements.
The nominee or beneficiary must notify the insurer, submit the claim form along with the required documents, and complete the claim verification process. The benefit is paid after claim approval.
The premium depends on factors such as age, rider option selected, coverage amount, policy term, premium payment term, and underwriting assessment.
The Bajaj Family Protect Rider offers family-focused benefits that may include lump sum and income support, while an Accidental Death Benefit (ADB) rider primarily provides an additional payout only if death occurs due to an accident.
Benefits may not be payable if the rider has lapsed, the base policy is no longer in force, the claim falls outside the rider term, or the event is excluded under the rider's policy conditions. Refer to the policy document for the complete list of exclusions.
Here is how you can get the benefits of the Bajaj Life Parent Income Protect Rider with your Bajaj Life 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 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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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
+On the basis of your profile
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*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.
+Rs. ₹361/month is the starting price for a ₹1 crore loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10
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.
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