Bajaj General Life eTouch II Term Insurance Plan

3. Life Shield ROP: Includes Death Benefit, Terminal Illness, WOP on ATPD/TI, Returns of premium

Here are the acronyms for the aforementioned abbreviations, which will be adhered to in all future references of these short forms through the page.

• ATPD - Accidental Total or Permanent Disability 
• WOP - Waiver or Premium
• ADB - Accidental Death Benefit
• TI – Terminal Illness

Protection Offered Under the Policy

Given below are the benefits provided by getting eTouch II Term Insurance Plan:

1. Death Benefit: In case of death of the life assured during the policy term, the nominee/legal heir will receive the full sum assured on death if no Terminal Illness benefit has been claimed earlier. If Terminal Illness Claim has been made has already been paid, then the nominee/legal heir will receive the remaining Death Benefit.

2. WOP Benefit on ATPD/TI: If the life assured is diagnosed with Accidental Total Permanent Disability (ATPD) or a Terminal Illness (where the sum assured is more than Rs.2 crore), then all future premiums will be waived, and the policy will continue with the applicable remaining benefits.

3. Terminal Illness Benefit: If the life assured is diagnosed with a Terminal Illness during the policy term, then they will get up to Rs.2 crore in advance from the Death Benefit. If the full Sum Assured is paid, the policy will end. If the sum assured is more than Rs.2 crore, the remaining cover continues with waiver of future premiums.

4. Accidental Death Benefit: If the life assured dies due to an accident during the ADB cover period, the nominee/legal heir will receive an additional amount equal to the chosen Accidental Death Benefit Sum Assured, over and above the Death Benefit.

5. Maturity Benefit: If life assured survives until the end of the policy term, a maturity benefit will be paid. If no claim has been made during the policy term, the policyholder will receive an amount equal to the total premiums paid. If a Terminal Illness Benefit was paid earlier, the maturity benefit will be reduced proportionately.

Eligibility Criteria for Bajaj General Life eTouch II Term Insurance Plan

A policy buyer must meet the following requirements: 

Benefits of Bajaj General Life eTouch II Term Insurance Plan

Here are the various benefits of eTouch II Term Insurance Plan: 

• Comprehensive Protection: The plan covers death and terminal illness covers. It waives future premiums in case of accidental total permanent disability or terminal illness (whichever occurs first).  
• Return of Premiums: In Life Shield ROP, you will get back all the premiums you have paid during the policy as a maturity benefit at the end of the policy term. However, you will only get the base premium, and it does not include taxes (like GST), extra charges, or additional costs for choosing certain payment modes. 
• Tax Benefits: Premiums paid under this policy are eligible for tax benefits based on Section 80C of the IT Act. 
• Premium Holiday Benefit: With the help of this option, you can skip your premiums for 1, 2 or 3 years during the premium payment term.

How the eTouch II Term Insurance Plan Works?

You can easily apply for the plan by following the simple steps given below:

Step 1: Select any one of the three variants i.e., Life Shield, Life Shield Plus, or Life Shield ROP.

Step 2: According to your needs, select the sum insured.

Step 3: Select the Death Benefit payment option: lump sum, monthly income, or a combination of both for 5, 10, 20, 30, or 40 years.

Step 4: Choose the policy term, which starts from 10 years. Step 5: Select the premium payment frequency.

Note: Premiums offered will be based on the applicant’s gender, age, sum assured, policy term, premium payment frequency, and the variant chosen.