Max Life Term Plans vs Bajaj Allianz Life Term Plans

The significance of term protection can’t be overlooked. However, picking the right one coordinating with your necessities is essential. There are plenty of term plans available in the market, and before settling on one, you should compare plans based on their different parameters and your requirements. For example, Max Life Insurance and Bajaj Allianz Life Insurance offer diverse term plans whose parameters can be compared below. 

Max Life Insurance Term Plans vs Bajaj Allianz Life Term Insurance Overview

Parameters Max 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 99.22% 98.02%

Term Insurance Plans – Max Life Insurance vs Bajaj Allianz Life Insurance 

Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of the Max Group, an Indian multi business corporation. Max Life has a total claims paid ratio of 99.35% as per the annual audited financials for the FY 20-21. Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multichannel distribution including agency and third party distribution partners.

Bajaj Allianz Life Insurance is another leading insurer in India that began its operations in 2001. Spreading its footprint across all towns and cities throughout the nation, Bajaj Allianz ensures that all its products are easily accessible and caters to the varied needs of its customers. 

You can compare Max Life term insurance and Bajaj Allianz term insurance on various parameters and pick the right one for a better future. 

Term Insurance Plans by Max Life Insurance versus Bajaj Allianz Life Insurance 

Max Life Insurance Term Plans

  • Max Life Insurance offers three different term plans – Max Life Online Term Plan Plus, Max Life Super Term Plan, and Max Life Smart Term Plan while considering customers’ requirements.
  • Max Life term insurance plans offer comprehensive life cover giving protection against death, disability, and disease. The plans provide life cover for as long as 85 years of age. 
  • You can increase the life cover under Max Life Insurance term policies during important milestones of life.
  • The term plans come with the flexibility of rider benefits.
  • Along with death benefits, Max Life term insurance also offers maturity benefit as the return of premium benefit.

Why choose Max Life Insurance term plans? 

  • Max Life Insurance term plans are affordably priced without putting much burden on the policyholder’s pocket in the long run.
  • The term plans are uniquely designed to suit the various prerequisites of their customers.
  • With a high claim settlement ratio, the leading insurer is counted among the most trusted insurance partners in the market.

Bajaj Allianz Term Plans

  • Bajaj Allianz offers 3 term plans – Bajaj Allianz Life Smart Protect Goal Term Plan, Bajaj Allianz Life eTouch Online Term Plan, and Bajaj Allianz iSecure Term Plan, intended to match various needs of its customers. 
  • The term plans offer flexible options to choose from various premium payment frequencies and payout options.
  • The plans are further backed with attractive benefits and features to offer comprehensive protection matching their needs.
  • Bajaj Allianz additionally gives a choice to pick joint or single life cover under a similar strategy. 
  • Add on advantage as riders are accessible, which are a beneficial option to widen the extent of the base coverage. 
  • Bajaj Allianz rewards for maintaining a healthy lifestyle by offering low premiums.

Why choose Bajaj Allianz Term Plans? 

  • Bajaj Allianz term plans are reasonably priced and thus are quite affordable to continue in the long run.
  • The features in the term plans intend to meet a wide range of necessities of the policyholder. 
  • The insurer offers discounted premiums for higher sum assured.