Bajaj Allianz Life Term Insurance Vs Future Generali Life Term Insurance

Term insurance is the most straightforward form of protection and is quintessential in today’s environment. For term insurance plans, you need to pay premiums on a monthly or annual basis and your family is protected for that “term”.  But, nowadays, the market is jam-packed with a variety of term coverage policies to fit your financial needs, time frame, and budget. You need to explore the difference between various types of term plans from different insurers. Below are the details about the term plans offered by Bajaj Allianz Life Term Insurance vs Future Generali term Insurance that you can weigh and choose the best one.

Bajaj Allianz Life term insurance Vs Future Generali term insurance plans overview

Parameters	Bajaj Allianz Life insurance	Future Generali term insurance
Number of Term insurance plans	3	5
E-services	Online consultation, purchasing and renewing the policy, premium payment, and claim settlement	Online consultation, purchasing and renewing the policy, premium payment, and claim settlement
Claim settlement ratio	98.02%	95.28%

Term insurance policies: Bajaj Allianz Life insurance Vs Future Generali term insurance

Bajaj Allianz Life Insurance is a partnership venture between two recognized companies (Bajaj Finserv Limited and Allianz SE). Established in 2001 in Pune; Bajaj Allianz needs no introduction in the Indian insurance market. All of its insurance products, like term plans, pension plans, child plans, savings, and investment plans, are highly applauded by customers. The company never compromises with its product quality and services and that’s why it is one of the prodigious insurance companies in India.

Future Generali Life insurance company is another established insurance company in India. This is a joint venture between Future Group, Generali Group, and Industrial Investment Trust Limited (IITL). The company works incessantly to improve its products and is incorporating various intriguing features into the products so that they can cater to all the needs of the customers. This trustworthy company provides optimum level financial protection to policyholders and their families.

By comparing Bajaj Allianz Life insurance term plans and Future Generali term plans on various parameters, you can opt for the best one that goes well with your financial needs and requirements.

Term insurance plans by Bajaj Allianz Life insurance Vs Future Generali Life insurance

Bajaj Allianz Life term insurance plans

• Bajaj Allianz term insurance plans are diligently designed by experts and the company offers three different term plan options (Bajaj Allianz Life Smart Protect Goal Term Plan, Bajaj Allianz Life eTouch Online Term Plan, and Bajaj Allianz iSecure Term Plan) to its customers.
• The minimum age eligibility criterion is 18 years and the maximum age is 60 years if you want to apply for these term plans.
• There are no restrictions for choosing different policy variants, premium payment, and payout options for policyholders.
• The insurer greets its customers with various riders like critical illness, accidental death, and disability.
• In case of the sudden demise of the insured policyholder, the beneficiary will be eligible for the sum assured that will support all the financial needs of the family.
• Non-smokers, preferred non-smokers, and women customers will get discounts on their premium amounts.
• Policyholders can enjoy both joint and single life cover.
• The customers can choose the death benefit option in monthly installments.

 

Why choose Bajaj Allianz term insurance plans?

• The term plan offers tax benefits under Sections 80C and Section 10(10D) of the Income Tax Act, 1961.
• Bajaj Allianz term plans are affordable and cover all your evolving financial needs at various stages of life.
• Customers may choose policy terms ranging from 10 years to 30 years.

 

Future Generali Term Insurance plans

• Future Generali term insurance offers 5 different term plans (Future Generali Flexi Online Term Plan, Future Generali Care Plus, Future Generali Jan Suraksha, Future Generali Express Term Life Plan, and Future Generali Saral Jeevan Bima)
• All term plans provide high life coverage at lower premiums
• These term plans offer flexible premium payment frequencies, including monthly, yearly, half-yearly, and quarterly. So, policyholders can choose any of the payment modes at their convenience.
• The term plans come with rider benefit options such as accidental death, terminal illness, or permanent disability that will strengthen your base policy cover.
• Future Generali Term Insurance Plans are eligible for tax benefits under the prevailing laws of the Income Tax Act 1961.
• The Future Generali term plan does not provide any maturity or survival benefits.

 

Why choose Future Generali term plans?

• The insurer offers 30 days grace period for yearly, half-yearly and quarterly premium frequency and 15 days grace period for the monthly payment mode.
• If you are not happy with the policy terms and conditions, you can choose to cancel the plan within 15 days from the policy receipt date.
• All term plans are budget-friendly and will never make a hole in your pocket.