Bajaj Allianz Term Insurance Plans

Features of Bajaj Allianz Term Insurance

Here is a list of all the key features of the Bajaj Allianz term plans:

• Low Entry Age: Bajaj term plans allow people of a wider age group to buy term insurance plans and secure the financial future of their loved ones.

• Long Term Cover: With Bajaj term life insurance, you can protect your family for your whole life (till 99 or 100 years of age).

• Customised Benefits: You can easily customise the benefits and details of the policy like policy term, sum assured, and premium payment term, to ensure the plan fits your needs.

• Premium Payment Options: You can pay your Bajaj Allianz term premium payments on a monthly, quarterly, bi-yearly, or yearly basis in regular, limited, or single payment mode.

• Easy to Buy: Bajaj term insurance plans are easy to buy and can be bought online in just a few minutes. 

Benefits of Bajaj Allianz Term Insurance 

Buying a Bajaj Allianz term plan can benefit you in the following ways:

• Financial Security: Bajaj term plans offer financial protection to your family members by ensuring they receive the death benefit in your absence.

• Death Benefits: These term plans offer the death benefit to your family in case of your unfortunate demise that helps them financially recover in your absence.

• Maturity Benefits: The Bajaj term plan does not offer any maturity benefits, but different types of term plan like term return of premium plans and no-cost term insurance plan return the premiums paid throughout the policy, on survival of the policy term.

• Rider Benefits: You can add the available riders to the base term plan to enhance its coverage. Some of the most common riders offered are accidental total permanent disability and accidental death benefit riders.

• Tax Benefits: You can claim term insurance tax benefits as per the prevailing tax laws u/s 80C and 10(10D) of the Income Tax Act, 1961.

Who Should Buy Bajaj Allianz Term Life Insurance?

Let’s take a look at the list of people who can buy Bajaj term plans:

• Young professionals

• Working women

• People with kids

• Newly wedded

• Taxpayers

• Senior Citizens

How To Buy Bajaj Allianz Term Insurance Plans?

Here is how you can buy Bajaj Allianz term life insurance plans in India:

Step 1: Visit the term insurance page of Policybazaar

Step 2: Fill in your name, gender, contact details, and date of birth

Step 3: Select the suitable annual income, occupation type, educational qualifications, and smoking habits

Step 4: Choose the Bajaj Allianz term plan and proceed to pay

* Before buying a term plan, it is important that you understand what is term insurance and how it can benefit you.

Things to Consider Before Buying Bajaj Allianz Term Life Insurance

Here are some things you need to consider before buying Bajaj Allianz term insurance plans:

• Assess Financial Needs: Before choosing the right cover amount, you should assess your and your family’s requirements like your annual income, their monthly expenses, and potential inflation.

• Choose Cover Amount: Since the cover amount is the amount that will be paid to your family in your absence, you should select an amount that will successfully cover your family’s financial needs.

• Select Policy Term: Choose the cover tenure as per your and your dependents’ needs. For example if your kids are going to be independent in the next 15 years, you can opt for a 15 year term insurance that will cover you until they are no longer dependent on you.

• Add Suitable Riders: Several insurers offer a variety of additional riders that you can add to the base policy to enhance the coverage at nominal premiums. The most common riders available are critical illness, terminal illness, accidental death benefit, etc.

• Check Company CSR: You should always assess the company’s CSR (Claim settlement ratio) which is the number of claim requests received by the company in one financial year to the number of claims settled by them. It denotes the reliability of the company.