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Protecting your family's financial future requires careful planning, starting with choosing the right term insurance, to selecting the life cover and for how long you wish to be covered.
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The Bajaj 70 Lakh Term Insurance plan is an excellent option in this regards, as it offers a Rs. 70 Lakhs death benefit to your nominee if you unfortunately pass away during the policy term. Bajaj Allianz Life Insurance provides this coverage at affordable premiums, ensuring your loved ones are financially secure. Here are the details of the Bajaj 70 Lakh Term Insurance.
Term Plans
The Bajaj 70 Lakh Term Insurance Plan provides financial security to the policyholder's family in the event of his/her sudden death. This term plan, offered by Bajaj Allianz Life Insurance, helps by providing a lump sum death benefit of Rs. 70 Lakhs. With this Bajaj Term Insurance plan, you can ensure that 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)
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Here are some of the key benefits of buying the Bajaj Term Insurance plan for 70 Lakh life cover:
Budget-Friendly Coverage: The 70 Lakh term insurance plan by Bajaj Allianz Life Insurance is affordable, providing basic term plan benefits at comparatively lower premiums, starting at Rs. 598/month.
*Note: This is a result for 18-year old male (non-smoker; earns 5 Lakhs per year) who bought Bajaj 70 Lakh term plan for 20 year policy term.
Added Protection: Bajaj 70 Lakh 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: Ensure your family's financial needs are met if you pass away. The death benefit of the Bajaj 70 Lakh term insurance plan can be used to maintain their lifestyle, settle loans, manage debts, and cover household expenses.
Easy Online Purchase: Buying the Bajaj 70 Lakh Term Insurance plan online is simple and convenient. Purchase it easily from home through Policybazaar's website or app.
Flexible Payouts: Choose to receive the death benefit as a lump sum or monthly income payments with the Bajaj 70 Lakh term insurance plan, giving your loved one control over managing expenses.
Tax Benefits: Enjoy tax benefits with the Bajaj 70 Lakh term insurance plan under sections 80C and 10(10D) of the Income Tax Act, 1961.
*Note: You can use the term insurance calculator for quickly 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.
The Bajaj 70 Lakh Term Insurance that you can buy online from Policybazaar is Bajaj Allianz Life eTouch.
The Bajaj Allianz Life eTouch online term plan ensures your family's financial security in the event of your untimely death while the policy is still active. This term insurance plan offers comprehensive coverage at affordable premiums, making it accessible and efficient for policyholders. With three distinct plan variants—Life Shield, Life Shield Pro, and Life Shield ROP—you can select the option that aligns with your needs and life goals. Whether you seek basic coverage, enhanced protection, or a return of premiums, the Bajaj eTouch plan provides flexible solutions to safeguard your family's financial future.
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.
Choose from three enhanced protection options:
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 70 Lakh 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 70 Lakhs as your life cover
Step 4: A list of all available term insurance plans will be displayed. Select the Bajaj Allianz Term Insurance plan from that list.
Step 5: Pay using your choice of payment method to complete the term plan purchase.
You can contact the below mentioned helpline numbers:
To Buy New Policy: Call 1800-208-8787.
For Support with Existing Bookings: Reach out to 1800-258-5970.
For Claim Support: Call 1800-258-5881 or manage your claims by logging into 'My Account' on the Policybazaar website.
Policybazaar App: Download the app for quick customer support and to handle any insurance-related questions.
*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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