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  • Bajaj Allianz Term Insurance

     4.0 / 5.0   by 339 users
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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Term insurance plans are often the simplest, cheapest and purest form of insurance which are sought-after by millions of Indians.Bajaj Allianz offers five term insurance plans which are wide-ranging in terms of the sum assured and premium rates and protection from loan liabilities. Online term insurance covers by Bajaj Allianz are iSecure, iSecure more and iSecure loan.

    Types of Bajaj Allianz Term Life Insurance Plans:

    The following are the five types of Bajaj Allianz Term Life Insurance Plans available

    1. Bajaj Allianz i-Secure More
    2. Bajaj Allianz Life eTouch Online Term Insurance Plan
    3. Bajaj Lifestyle Secure

    Bajaj Allianz Life eTouch Online Term Insurance Plan

    Bajaj Allianz Life eTouch Online Term is a regular premium payment, pure term and health cover plan

    Feature

    Description

    Entry Age

    Minimum: 18 years

    Maximum: 65 years

    Policy Term

    Minimum: 10 years

    Maximum: 40 years

    Sum Assured

    Minimum: 50 Lakhs

    Maximum:

    Life Benefit: No limit

    ACI Benefit: Rs.75 lakhs

    ADB and ATPB: Rs.2 crores

    Premium

    Minimum:Rs.5000 per annum

    Maximum:No limit

    Premium Payment Mode

    Annually, bi-annually, quarterly and monthly. Bi-annual, quarterly, and monthly modes are only available under auto-debit process that is allowed by RBI for financial institutions

    Death Benefit

    In case of death of the insured, the nominees will have three payout options to choose from:

    • 100% lump sum payment
    • 50% lump sum payment and the rest in level or increasing monthly installments
    • 100% payment in level or increasing monthly installments

    Bajaj Allianz iSecure More

    Bajaj Allianz iSecure More is a non-participating increasing cover term assurance plan.

    Feature

    Description

    Entry Age

    Minimum: 18 years

    Maximum: 60 years

    Policy Term

    Minimum: 10 years

    Maximum: 25 years

    Sum Assured

    Minimum: Rs.2.5 lakh

    Maximum: No limit

    Premium

    Minimum: Rs.1500

    Maximum: No limit

    Premium Payment Mode

    Yearly, half-yearly, monthly, quarterly

    Death Benefit

    Instalments for a period of 5 or 10 years. (1.04*Sum Assured)/60 or (1.08*death benefit)/120

    Bajaj I Secure Loan

    Bajaj I Secure Loan is a non-participating mortgage cover term assurance plan.

    Feature

    Description

    Entry Age

    Minimum: 18 years

    Maximum: 60 years

    Policy Term

    Minimum: 10 years

    Maximum: 25 years

    Sum Assured

    Minimum: Rs.3 lakh

    Maximum: No limit

    Premium

    Minimum: Rs.1500

    Maximum: No limit

    Premium Payment Mode

    Yearly, half-yearly, monthly, quarterly

    Bajaj Life Secure

    Bajaj Life Secure is a non-linked whole life term plan.

    Feature

    Description

    Entry Age

    Minimum: 18 years

    Maximum: 60 years

    Policy Term

    Entry age: 100 years

    Sum Assured

    Minimum: Rs.20 lakh

    Maximum: No limit

    Premium

    Minimum: Rs.36,720 p.a

    Maximum: No limit

    Premium Payment Mode

    Yearly, half-yearly, monthly or quarterly

    Bajaj Lifestyle Secure

    Bajaj Lifestyle Secure is a non-linked term assurance plan.

    Feature

    Description

    Entry Age

    Minimum: 18 years

    Maximum: 50 years

    Policy Term

    Minimum: 5 years

    Maximum: 20 years

    Sum Assured

    Minimum: Rs.3 lakhs

    Maximum: Rs.15 lakhs

    Premium

    Minimum: Rs.1466

    Maximum: Rs.20, 458

    Premium Payment Mode

    Half-yearly, Yearly, quarterly or monthly

    Death Benefit

    Sum Assured paid in EMIs for a period equal to tenure of the plan

    Features & Benefits of Bajaj Allianz Term Insurance Plans:

    The salient features of Bajaj Allianz Term Insurance Plans are listed below:

    • Customers can increase their insurance cover which depends on the policy term.
    • Customers can avail of both joint and single life cover
    • High sum assured rebate
    • Customers may choose policy terms ranging from 10 years to 30 years
    • Tax benefits under section 80C and 10(10D)
    • Customers can choose to take death benefit in monthly instalments
    • Protection from loan liabilities
    • Life cover up to 100 years (life secure)
    • Offers Accelerated Terminal Illness (TI) risk cover (lifestyle)
    • Offers attractive rates of premium for women (life secure)

    Example of Bajaj Allianz Term Insurance Plan:

    Ravi Sharma, a 30-year-old non-smoker opts for an I Secure plan for a policy term of 30 years. He insures himself for Rs.2 crores for which he pays an annual premium of Rs.23,327* after a high sum assured rebate of Rs.12,561. In the event of Ravi’s unfortunate death at the 12th policy year, his nominee will receive Rs.2 crores.

    *Does not include Edu Cess and Service Tax

    Bajaj Allianz Term Plans FAQs:

    1. Q. Are smokers and non-smokers charged differently under the iSecure term plan?

      A. Yes. There are separate premium rates for smokers, non-smokers and preferred non-smokers for a sum assured of Rs.20 lakh and above.

    2. Q. Can premium payment frequency be changed under the iSecure term plan?

      A. Yes. the premium payment frequency can be changed at the time of any policy anniversary during the policy term

    3. Q. What are the tax benefits available under the Bajaj Allianz Isecure more plan?

      A. Premium and death benefit are eligible for tax benefits under Section 80C and Section 10(10D) as per the Bajaj Allianz Isecure more plan.

    4. Q. Can customers avail of loan against the Bajaj Allianz Isecure more plan?

      A. No. Loan facility is not available as per this plan.

    5. Q. What are the three coverage options available under life secure?

      A. Death Benefit plus Accidental Death Benefit, Death Benefit and Accelerated Critical Illness plus Waiver of Premium Benefit.

    6. Q. What is the life cover provided under under life secure plan?

      A. Life cover is provided up to 100 years.

    7. Q. Are any medical tests required for Lifestyle Secure plan?

      A. No tests are required for Lifestyle Secure plan.

    8. Q. What is the death benefit payable under Lifestyle Secure plan?

      A. If the life assured dies or contracts a terminal illness (whichever is earlier) his or her nominee will get the Sum Assured in EMIs.

    9. Q. What is the minimum sum assured under the ISecure term plan?

      A. The minimum sum assured is Rs.2.5 lakh under the ISecure term plan

    10. Q. What are the premium terms available under Life Secure?

      A. Customers can choose from four payment terms - 5, 7, 10 or 15 years.

    Other Products from Bajaj Financial Services

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    Bajaj Allianz Term Insurance Reviews

  • Page 1 of 17 1 2 3 4 5
    • Bajaj Allianz Life Life Insurance
      "Not paying back maturity amount"
      0.5 0.5/5 "Unacceptable"
      My policy (0002439625) has matured on July 2018, now three months over Bajaj Allianz has not paid my maturity amount back. Each time I contact them getting silly reason to avoid to pay back my maturity amount. The first reason was they despatch a cheque aready. After one moth they changed ask me my bank account details, I have submitted 5 times but the same is not updated their system. Now they are telling the clarity of the document is not clear. Any of the above cases Bajaj Allianz has not contacted me to inform this. Each time I have called them and ask about my maturity amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 17, 2018
    • Bajaj Allianz Life Life Insurance
      "First time user"
      0.5 3.0/5 "Satisfactory"
      I've a life insurance policy with the Bajaj Allianz.I am paying premium 26000 yearly, tenure of the policy, It offers a guaranteed money back after 5 years. The tenure of the policy is 20 years and after 15 years I will be eligible for a premium waiver..
      Was this review helpful? 0
      , guwahati
      Reviewed on Aug 31, 2018
    • Bajaj Allianz Life Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      About this life insurance i can say that, the executives has assisted me well, the explained me about the policy clearly, they also given me the many benefits in this policy, about the premium, also they assisted me which was easy to understand and it helped to move on with the further process of the documentation.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Aug 22, 2018
    • Bajaj Allianz Life Life Insurance
      "Secure Child's Future"
      0.5 5.0/5 "Blown Away!"
      I have child plan policy with Bajaj allianz. I took this policy to secure the future and education of my child. It is one of the best long term investment option I have made for my childs future. Premium is low and the claim settlement ratio is high. As per my experience, I would recommend this policy to others. Link to get more Info: https://www.bajajallianzlife.com/
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 24, 2018
    • Bajaj Allianz Life Life Insurance
      "Invest for Child's Future"
      0.5 5.0/5 "Blown Away!"
      Finally, after doing an extensive reserach, I bought a child plan from Bajaj Allianz life at very low premium. The coverage of policy is good and as per my research it also has a high claim settlement ratio. It really is a fanatastic future investment for my child for her education and other heavy expenses. Link to get more Info: https://www.bajajallianzlife.com/
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 22, 2018
    • Bajaj Allianz Life Life Insurance
      "High Claim Settlement Ratio"
      0.5 5.0/5 "Blown Away!"
      I have taken a term life insurance from Bajaj Allianz life insurance. It is a great policy which has got a very high claim settlement ratio. It is the best investment option I have opted for and also the premium that bajaj offers is great compared to other private sectors. They even offer wide range of insurance policies based on the customer requirements. Link to get more Info: https://www.bajajallianzlife.com/
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2018
    • Bajaj Allianz Life Life Insurance
      "High Returns"
      0.5 5.0/5 "Blown Away!"
      I have a very less idea of Insurance sector, on my friends recommendation I ended up buying the ULIP Plan from Bajaj Allianz (https://www.bajajallianzlife.com/ulip/ulip.jsp.) The policy is great and personally I think it is one of the best investment plan with high returns. Service is fast and on time which is well facilitated from the customer services team.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 18, 2018
    • Bajaj Allianz Life Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with Bajaj Allianz from last 5 months and it is a short term policy. I am happy with the returns and benefits of this policy. I pay my premium once in a year through net banking and i am convenient with the payment options. The maturity period for this policy is 10 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 17, 2018
    • Bajaj Allianz Life Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am having the life insurance policy with the Bajaj allianz of India and am with them from the last ten yeasr of time.Services are good one with the Bajaj allianz life insurance company. Response is better one with the Bajaj allianz life insurance company.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jul 03, 2018
    • Bajaj Allianz Life Life Insurance
      "Good Accidental death benefit policy"
      0.5 4.0/5 "Great!"
      So far i have never contact the Bajaj Allianz customer care service. Actually this is the accidental coverage policy. It is accidental plus 5-6 add on coverage is also available. I used to pay the premium of Rs. 6000 every year. I have to pay the premium till my death. I have taken this policy this year alone. The sum assured amount of this policy Rs. 50 lakhs.
      Was this review helpful? 0
      , dhule
      Reviewed on Jun 28, 2018
    • Bajaj Allianz Life Life Insurance
      "Great investment Options"
      0.5 5.0/5 "Blown Away!"
      I have invested in a ULIP plan with Bajaj Allianz(https://www.bajajallianzlife.com/ulip/ulip.jsp). Its the best place to put my money into as it offers duel benefits of investment and insurance. It also offers great tax benefits. I appreciate Bajaj Allianzâ??s experienced fund management team, they have helped me invest my money in the right place. The best part is that I have the freedom to decide. Its a great deal.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 27, 2018
    • Bajaj Allianz Life Life Insurance
      "Best product offerings"
      0.5 4.0/5 "Great!"
      I have three policies from Bajaj Allianz life. The premium gets auto debited from the account(Check details here : https://www.bajajallianzlife.com). I don't have to worry about the due date and this makes life so much easier. The agents are very friendly and in case of any discomfort, they have always helped me understand and sort things out. I recommend Bajaj Allianz to everyone over any other company in the market
      Was this review helpful? 0
      , pune
      Reviewed on Jun 19, 2018
    • Bajaj Allianz Life Life Insurance
      "Excellent Policy"
      0.5 5.0/5 "Blown Away!"
      Got a Bajaj Allianz Life insurance policy around 4 years ago. The policy tenure 18 years with a premium amount of Rs. 12,000 in a year. The customer support is very responsive, and I loved their support every time. The plan benefit is excellent and most of the services can be availed online(https://www.bajajallianzlife.com).
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 18, 2018
    • Bajaj Allianz Life Life Insurance
      "Satisfied"
      0.5 3.5/5 "Pretty good"
      I have a Bajaj Allianz life insurance from more than 10 years and it is a long term policy. There are not much branches of Bajaj. I am happy with the coverage and returns of this insurance policy. I pay my premium once in a year and i am convenient with the payment options. I have taken this policy mainly for tax savings.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 23, 2018
    • Bajaj Allianz Life Life Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      The main issue with the Life Insurance policy from Bajaj is that I've been receiving n number of fake calls. I never had any issues pertaining to this policy. I pay the premium either via check or online. Overall Their service is not as good as I expected.
      Was this review helpful? 0
      , pune
      Reviewed on May 11, 2018
    • Bajaj Allianz Life Life Insurance
      "GOOD POLICY"
      0.5 5.0/5 "Blown Away!"
      I took this policy mainly because of the good returns, its long tenure process , the payment can be done through easy monthly ecs . The best about the policy is claim rate is high compared to other policy available in the market. There customer service and customer response is good .
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 30, 2018
    • Bajaj Allianz Life Life Insurance
      "Life insurance with BAJAJ"
      0.5 4.0/5 "Great!"
      I have taken a life insurance from BAJAJ ALLIANZ and the policy premium is 30000 annually. This is an investment come insurance policy so i will get some interest from mutual funds. We have to pay the premium for 5 years. The customer service and response with the card is fine.
      Was this review helpful? 0
      , thane
      Reviewed on Apr 27, 2018
    • Bajaj Allianz Life Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I have four policy's with Bajaj Allianz Life Insurance service. Tenure period is good with Bajaj Allianz Life Insurance service. The payments options are through online. It was an good experience with Bajaj Allianz Life Insurance service.
      Was this review helpful? 0
      , thane
      Reviewed on Apr 25, 2018
    • Bajaj Allianz Life Life Insurance
      "Worst company to buy insurance from"
      0.5 1.0/5 "Really Bad"
      I had bought Super Saver policy which is Super Loser policy. Instead of giving returns, it actually eats up all your money. Agents mislead you that the policy can be withdrawn at early stage of 3 or 5 years. But actual term is 15 years or so. Absolutely rubbish plan. Customer support is pathetic an unhelpful. No knowledge about the product as well.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 31, 2018
    • Bajaj Allianz Life Life Insurance
      "Average Policy"
      0.5 3.0/5 "Satisfactory"
      I hold a my life insurance with Bajaj Allianz from last 15 years and it is a long term policy. The tenure of this policy is 10 years. I have to pay a premium for 4-5 years and for remaining years the company will pay. It is an average policy, i am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 29, 2018
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