Bajaj Allianz Life Family Protect Rider

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

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.

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:

* 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

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