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Protecting your family's financial future requires careful planning. And the first part of this planning process is to choose the ideal life cover of a term insurance plan. In this case, the Bajaj 5 Crore term insurance plan is a great choice.
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This term plan provides a Rs. 5 Crore death benefit to your nominee if you, unfortunately, pass away during the policy term. Bajaj Allianz Life Insurance offers this coverage at affordable premiums, ensuring your loved ones are financially secure. Here ar;e the details of the Bajaj 5 Crore Term Insurance.
Term Plans
The Bajaj 5 Crore Term Insurance Plan provides financial security to the policyholder's family in case of sudden death of the policyholder. Hence, a 5 Crore term plan offered by Bajaj Allianz Life Insurance helps by providing a lump sum death benefit of Rs. 5 Crore so that you can make sure your loved ones have a financially protected future.
You should buy Term Insurance from Bajaj Allianz Life Insurance due to the below mentioned reasons:
| Bajaj Allianz Life Insurance Highlights | |
| Bajaj Allianz Life Insurance Claim Settlement Ratio (CSR) | 99.23% (FY 2023-24) |
| Bajaj Allianz Life Insurance Solvency Ratio | 4.51 (FY 2023-24) |
| Bajaj Allianz Life Insurance Riders | Critical illness rider, Hospital cash rider, Waiver of Premium rider, Accidental death benefit rider |
| Amount of Individual Claims Paid By Bajaj Allianz Life Insurance | Rs. 6,418.97 Crores (from FY 2006-07 to FY 2023-24) |
| Number of lives covered by Bajaj Allianz Life Insurance | 4.19 Crores |
| CARE Rating for Bajaj Allianz Life Insurance | AAA; Stable Rating by CARE |
| Claim Approval of Bajaj Allianz Life Insurance | Approval Done Within 1 Day* |
*Note: 1 day is counted from the date of intimation of claim (before 3 PM, on a working day)
Here are some of the key benefits of buying the Bajaj Term Insurance plan for 5 Crore life cover:
Budget-Friendly Coverage: The 5 Crore term insurance plan by Bajaj Allianz Life Insurance is affordable, providing basic term plan benefits at comparatively lower premiums, starting at Rs. 1,391/month.
*Note: This is a result for 18-year old male (non-smoker; earns 6 Lakhs per year) who bought Bajaj 5 Crore term plan for 20 year policy tenure.
Added Protection: Bajaj 5 Crore term insurance plan also includes extra benefits through riders, thereby, offering protection for risks like terminal illness benefit, accidental death benefit, critical illness benefit, and waiver of premium benefit.
Financial Support for Your Family: The Bajaj 5 Crore Term Insurance plan ensures your family's financial needs are met if you pass away suddenly. Your nominees can use the death benefit to maintain their lifestyle, settle loans, manage debts, and cover household expenses.
Easy Online Purchase: Buying the Bajaj 5 Crore Term Insurance plan online is simple and convenient, saving you from visiting a branch or waiting in long queues. You can easily purchase it from the comfort of your home through Policybazaar's website or app.
Flexible Payouts: You can choose how to receive the death benefit, either as a lump sum or monthly income payments, giving you control over managing your expenses.
Tax Benefits: This plan offers tax deductions under sections 80C and 10(10D) of the Income Tax Act, 1961.
*Note: You can use the term insurance calculator for estimating your term insurance premium. You can also use the HLV Calculator to find out the most suitable life cover for your family’s security.
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The Bajaj 5 Crore Term Insurance that you can buy online from Policybazaar is Bajaj Allianz Life eTouch.
The Bajaj Allianz Life eTouch online term plan is a pure risk protection plan that provides financial security to the policyholder's family in the event of the policyholder's sudden death during the policy term. Offering comprehensive coverage at affordable premiums, it comes with three plan options to suit different needs: Life Shield, Life Shield Pro, and Life Shield ROP options. This flexibility allows you to choose the option to protect your loved ones against various risks.
Here are some reasons why you should consider buying the Bajaj Allianz Life eTouch plan:
Get comprehensive life cover for yourself and your family with this life insurance plan.
Select from 3 plan variants for enhanced protection:
Bajaj Allianz eTouch Term Plan – Life Shield
Bajaj Allianz eTouch Term Plan – Life Shield Plus
Bajaj Allianz eTouch Term Plan – Life Shield ROP
Receive maturity benefits if you outlive the policy term.
Get an extra payout for accidental death with the accidental death benefit rider.
Exit early and get back all the premiums paid if you no longer need the term plan.
Use the Premium Holiday feature to skip premiums for 1, 2, or 3 years during the payment term.
Women can receive up to Rs. 36,500 in free health services each year, including check-ups, screenings, and consultations.
Non-tobacco users enjoy lower premiums for a healthy lifestyle.
Claim tax benefits under the Income Tax Act of 1961.
The eligibility conditions to buy Bajaj Allianz Life eTouch Online Term Insurance Plan are as follows:
| Criteria | Minimum | Maximum |
| Entry Age | 18 years | 65 years |
| Maturity Age | 28 years | 99 years |
| Policy Term | 10 years | 99 years |
| Sum Assured | 50 Lacs | No Limit |
| Premium Payment Terms | Regular and Limited Pay | |
| Premium Payment Modes | Monthly, Quarterly, Half-yearly, and Yearly | |
Young individuals
Self-employed/Business Owners
People with loans/debts
Newly married individuals
Parents with children
Sole breadwinner
Here are the steps to buy a 5 Crore term insurance plan from Policybazaar:
Step 1: Visit the official website of Policybazaar and then, click on ‘Term Insurance’
Step 2: Enter your personal information, like Name, DoB, and contact number and click on ‘View Plans’.
Step 3: Enter additional information regarding smoking habits, annual income, type of occupation, and educational qualifications.
*Do not forget to select 5 Crore as your life cover.
Step 4: All available term insurance plans will be displayed. Select the Bajaj Allianz Term Insurance plan from that list.
Step 5: Pay using your payment method to complete the term plan purchase.
You can contact the below mentioned helpline numbers:
To Buy a New Policy: Call Policybazaar's helpline at 1800-208-8787.
For Help with Existing Bookings: Call Policybazaar's helpline at 1800-258-5970.
Claim Assistance Helpline: Call 1800-258-5881 or log into 'My Account' on the Policybazaar website to manage claims.
Policybazaar App: Download the app for prompt customer support and address any insurance-related questions directly.
*Note: You can easily contact Policybazaar Insurance Advisor for any insurance-related help/guidance or to clear doubts/confusion.
Note: You should also check the term insurance benefits if you are planning to purchase the term insurance plan.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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