Bajaj Allianz Life Term Insurance Calculator
Bajaj Allianz Life Term Insurance Calculator
Bajaj Allianz Life Insurance is a joint venture between Bajaj Finserv Limited and Allianz SE. The leading insurer is headquartered in Pune and started its operations in August 2001. With a vast presence across all parts of the country and serving millions of customers, the company provides an array of insurance products focussed on customers’ financial security and planning.
Bajaj Allianz Life Insurance makes sure to engage its customers with several unique platforms while offering best-in-class services. As a result, it boasts of a healthy claim settlement ratio as high as 98.02% in the financial year 2019-20, proving itself a reliable insurer partner. In addition, Bajaj Allianz Term Insurance Calculator enables users to opt for the right term plan based on their affordability and requirement.
Benefits Bajaj Allianz Life Term Insurance Premium Calculator
- Accurate Premium: The Bajaj Allianz Life Term Insurance calculator assists you with assessing the exact premium amount. Premium calculation is done based on your chosen premium payment frequency.
- Efficient and Hassle-free: Bajaj Allianz Life term insurance calculator is simple to use and saves a lot of time to calculate premiums for term plans.
- Help in comparisons: Bajaj Allianz Life Term Premium calculator helps you compare various term insurance plans, further helping you with settling on the right choice.
Bajaj Allianz Life Term Insurance Plans
- Bajaj Allianz Life Smart Protect Goal
- Bajaj Allianz Life eTouch Online Term Plan
- Bajaj Allianz iSecure Term Plan
Below are the details about term insurance plans offered by Bajaj Allianz Life Insurance:
- Bajaj Allianz Life Smart Protect Goal term plan: This term insurance plan by Bajaj Allianz Life Insurance offers life cover at an affordable premium amount. It offers a maturity benefit wherein if the policyholder survives the policy term, all the premiums paid are refunded. This plan also provides financial assistance if diagnosed with any of the listed critical illnesses and can be customized as per an individual’s requirement.
- Bajaj Allianz Life eTouch Online term plan: Bajaj Allianz Life eTouch Online Term Plan is ideal for comprehensive financial security if diagnosed with a critical illness. Under this plan, you get financial assistance for accidental total permanent disability and the benefit of waiver of premium. It comprises 4 plan options that the insured can select as per his or her requirements.
- Bajaj Allianz iSecure term plan: This plan offers substantial life cover at affordable premiums. Bajaj Allianz iSecure provides financial protection to secure your loved ones in your absence. The policy nominee can choose from different death benefit payout options as per their requirements and preferences.
Benefits of Bajaj Allianz Term Insurance Plans
The term insurance plans offered by Bajaj Allianz Life Insurance are among the widely sought-after ones because these term plans provide optimum financial protection to a policyholder’s family members in the event of an unfortunate incident. In case of the policyholder’s death, the loved ones receive financial assistance, or in other words, the nominee gets the complete sum assured from Bajaj Allianz. Furthermore, a policyholder can extend their benefits by investing in additional riders that come at a minimal premium cost only to provide immense support at the time of need.
- Reasonably priced plans: Bajaj Allianz endeavors to provide a complete life cover at an affordable price range which not only satisfies a person’s insurance prerequisites but also fits within their budget plan.
- Multiple add-ons: Bajaj Allianz Life Insurance offers different riders add-on coverage to the existing base policy cover. Some of the popular riders include Critical Illness Cover, Accidental Death Benefit, Accidental Total Permanent Disability, and Waiver of Premium Benefit.
- Flexibility to opt for premium payment frequencies: Bajaj Allianz Life Insurance gives flexible options to the policyholder to choose from the various premium payment frequencies based on their comfort and convenience.
- Tax Benefits:Bajaj Allianz Life term plans are eligible for tax benefits for the premiums paid towards the policy under Section 80 C of the Income Tax Act and also on the death benefit payout under Section 10(10D) of the Income Tax Act.
What is the minimum and maximum age to buy Bajaj Allianz Life Insurance?
The minimum age is 18 years, and the maximum age is 65 years to buy Bajaj Allianz Life Insurance.
What are the various factors influencing Bajaj Allianz Life Insurance term insurance premium?
Various factors influencing Bajaj Allianz Life Insurance term insurance premium include gender, age, lifestyle habits like smoking, drinking, and the coverage amount.
What are the rider benefits available with Bajaj Allianz Life term insurance plan?
Some of the popular term insurance riders available with the Bajaj Allianz Life term insurance plan, benefitting the policyholder in different scenarios other than death, include:
Critical illness cover.
Accidental death benefit.
Accidental partial/total permanent disability benefit.
Waiver of premium benefit amongst others.
Is it possible to purchase multiple term insurance policies from Bajaj Allianz Life Insurance?
Yes, you can buy multiple term insurance plans from Bajaj Allianz Life Insurance; however, it is advised to buy only a certain number of term plans which do not hamper your life goals.
Does Bajaj Allianz life insurance plans cover COVID-19 death claims?
Yes, Bajaj Allianz life insurance plans cover deaths caused by COVID-19.
How much time does Bajaj Allianz Life Insurance take to settle a claim?
Bajaj Allianz Life Insurance takes 30 days to settle a claim and might take 120 days for claim settlement in case any further investigation is required.
What is the claim settlement ratio of Bajaj Allianz Life Insurance?
Bajaj Allianz Life Insurance boasts of a healthy claim settlement ratio of 98.02% in the FY 2019-20.
What will happen if the case of nominee's demise?
If the nominee dies or is not mentioned in the policy document, the claim is paid out to the legal heir.
Is it possible to buy a joint term insurance plan under Bajaj Allianz Life Insurance?
Yes, you can opt for the Bajaj Allianz Life Smart Protect Goal policy, which comes with the benefit of joint cover for you and your spouse.