HDFC Life Term Plans vs Bajaj Allianz Life Term Plans

A single term plan cannot suffice the different requirements of different individuals. Therefore, you need to pick the right one from plenty of term insurance options available in the market. Therefore, it becomes fundamental to compare and analyze various term plans before shortlisting. Here are Hdfc Life Term Insurance and Bajaj Allianz Life Term Insurance details which you can go through and compare.

Term Insurance Plans by HDFC Life Insurance vs Bajaj Allianz Life Insurance Overview

Parameters HDFC Life Insurance Bajaj Allianz Life Insurance
Number of Term insurance plans 3 3
E-services Online consultation, buying policy, policy renewal, and claim settlement Online consultation, buying policy, policy renewal, and claim settlement
Claim settlement ratio 99.07% 98.02%

Term Insurance Policies – HDFC Life Insurance vs Bajaj Allianz Life Insurance

Counted among the leading insurers in India, HDFC Life Insurance is a joint endeavor between Housing Development Finance Corporation Limited (HDFC Ltd.) and Standard Life Aberdeen. The company offers a wide range of insurance products, including protection plans, savings, and investment plans, ULIPs, retirement plans, child plans, and more.

Bajaj Allianz Life Insurance commenced its operation in 2001 and has marked its footprints across all parts of the country. It is a joint venture between Bajaj Finserv Limited and Allianz SE and provides comprehensive solutions for all life insurance needs. The company offers different insurance products catering to the needs of the customers at all life stages.

To decide on the right term plan for a better future, you can compare HDFC Life Insurance term plans, and Bajaj Allianz Life Insurance term plans on different parameters mentioned below.

HDFC Life Insurance Term Plans 

  • HDFC Life term insurance plans offer comprehensive life cover with a high sum assured at a reasonable premium amount.
  • The term plans provide the flexibility to add riders if you want to enhance the policy cover.
  • HDFC Life Insurance offers 3 term plans – HDFC Life Click 2 Protect Life, HDFC Life Click 2 Protect Plus, HDFC Life Click 2 Protect 3D Plus, to cater to various needs of the customers. 
  • Each term plan is backed by different variants and features, providing you the flexibility to opt for a customized insurance plan based on your requirements.
  • The plans also offer flexible premium payment and payout options.
  • For maintaining a healthy lifestyle, HDFC term plans offer low premium rates.


Why choose HDFC Life Term Plans? 

  • HDFC Life term insurance plans cost-effectively offer complete financial security. 
  • It offers MWPA enrolment benefits such that the death benefit payout is legally safeguarded for your nominee.
  • The term plans give you the flexibility to customize the term plan as per your requirements.
  • The plans also come with rider benefits to enhance the base policy cover.


Bajaj Allianz Life Insurance Term Plans 

  • Bajaj Allianz offers 3 different term plans – Bajaj Allianz Life Smart Protect Goal Term Plan, Bajaj Allianz Life eTouch Online Term Plan, and Bajaj Allianz iSecure Term Plan
  • The plans are carefully designed to suit the various necessities of the clients at different life stages. 
  • Bajaj Allianz term plans further comprise of different variants backed with various features and benefits.
  • The term plans offer flexibility to the policyholder to opt from different policy variants, premium payment, and payout options as per their preference.
  • You can also add riders to get complete protection against various uncertainties like critical illness, accidental death and disability, and more.
  • Bajaj Allianz additionally gives a choice to pick joint or single life cover under a single policy cover. 


Why choose Bajaj Allianz Term Plans? 

  • Bajaj Allianz term plans are affordably priced and offer complete financial security.
  • The term plans come with rider benefits, which enhance the scope of the base cover.
  • For choosing a higher sum assured, a discount on premiums is offered.
  • The plans are available both online and offline.
  • Bajaj Allianz has a vast distribution network across the country while ensuring that its products are easily accessible.