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.
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:
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:
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.
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
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.
Q. Can customers avail of loan against the Bajaj Allianz Isecure more plan?
A. No. Loan facility is not available as per this plan.
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.
Q. What is the life cover provided under under life secure plan?
A. Life cover is provided up to 100 years.
Q. Are any medical tests required for Lifestyle Secure plan?
A. No tests are required for Lifestyle Secure plan.
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.
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
Q. What are the premium terms available under Life Secure?
A. Customers can choose from four payment terms - 5, 7, 10 or 15 years.
The coverage value is fine in Bajaj Allianz and benefits are good. I didn't interact much with the agent but at the time of purchasing the policy they have coordinated very well. The policy coverage is minimum, the tax benefits and financial security for unforeseen events is there.
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ROMITA MARTINA
, hyderabad
Reviewed on Jan 18, 2019
The documentation process for the BAJAJ ALLIANZ LIFE INSURANCE is very good and the customer service is good. The maturity period of this policy is for 20 years and i am using it from past 10 years. The premium i have paid once with this policy.
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TUMMURI SRINIVASA REDDY
, hyderabad
Reviewed on Dec 22, 2018
My policy name called Investment assured I took from Bajaj Allianz life insurance, I used to pay the premium around Rs. 80,000 per annum for 7 years of tenure they give benefits after 10 years. Payment tenure is less but they give benefits for 17 years. They gave me the bond about my life insurance policy.
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KARUNAKARA BHANDARY
, bangalore
Reviewed on Dec 21, 2018
I have life insurance with Bajaj Allianz, I used to pay Rs. 12,000 for one year policy, it has the tenure of 40 years, Its a totally term plan for the value of 1 crore, they give lump sump amount to the nominees, the claim ratio is good and also terminal waiver on premium.
I have got a poor customer care service in Bajaj. I won't get any proper reply from them. They were helpful till i taken the policy from them. I have purchased the policy 2 years before. One of my relative has recommended me about the term insurance policy. I'm not sure about the claim ratio of this company.
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VINAYAGAM KARTHIKEYAN
, vellore
Reviewed on Dec 04, 2018
I have taken a life insurance policy with Bajaj Allianz. The plan name was child care policy. I pay the premium amount through ECS. I took this policy 13 years ago. I can able to get the benefits after 18 years. I pay the premium amount of Rs. 6700 yearly. I took this policy for child's benefits.
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KANNIMARIAPPAN DURAISWAMY
, chennai
Reviewed on Dec 02, 2018
Every month I am paying Rs. 10,000 as premium to Bajaj Allianz life insurance policy for the tenure of 10 years, I get multiple benefits. They do have accidental death and natural death benefits. The multiple nominees are allocated on this policy, the customer service and documentation has done on time. Total matured period is 15 years then I get Rs. 20 lakhs.
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AMIT HASMUKH SHAH
, navi mumbai
Reviewed on Dec 01, 2018
I bought health insurance policy from Bajaj allianz and noticed spieling mistake in name I requested for the same. I got mail that within 5 days the complaint will be solved but after 7 days I didn't got any response I again send reminder against the given reference number finally I surrender the policy
I have purchased my life insurance policy with BAJAJ ALLIANZ LIFE INSURANCE and i am using it from last few years. The maturity period is for long term policy which gives the coverage for self. The premium i pay for yearly once for this insurance policy.
My life insurance is with Bajaj from last 2 years and it is a long term policy. I pay my premium once in 6 months through online and i am convenient with the payment options. Returns and benefits are good in this policy and the tenure period is 16 years.
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MANISH SHIVGOVIND PATEL
, mumbai
Reviewed on Nov 01, 2018
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.
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..
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.
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KATHIRAVAN DURAI
, hyderabad
Reviewed on Aug 22, 2018
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/
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/
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Sridhar Reddy
, hyderabad
Reviewed on Jul 22, 2018
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/
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Keki Adhikari
, bangalore
Reviewed on Jul 19, 2018
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.
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.
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.
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.
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MANISH TRILOKCHAND JAIN
, dhule
Reviewed on Jun 28, 2018
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