Bajaj Life Term Insurance

Bajaj Life Insurance Company Limited (IRDA Reg. No 113) is one of the most trusted and sought after names in the insurance industry in India. Bajaj Life insurance is a result of a joint venture between Bajaj Finserv Limited and Life SE. Both the companies are respected insurance vendors and are known for their integrity, professionalism, vision and expertise in the health insurance domain. It began its operations in 2001.

Bajaj Life has been a vendor on the insurance circuit for quite some time and has acquired more than its fair share happy and loyal customers. Bajaj Life offers customized term insurance products as per your requirement. They have a variety of pension plans, child plans, savings and investment plans.

Bajaj Life i-Secure Term Plan

This plan can be bought only through the website. The features of this plan are mentioned below:

• The minimum entry age is 18 years and maximum age is 60 and the maturity age is 70 years
• The minimum sum assured is 2 Lakhs for smokers and 20 lakhs for non-smokers and there is no limit for the maximum sum assured
• You can buy this plan on a single and joint life basis for your spouse
• If the insured passes away, the sum insured is paid to the nominee under the single life option
• During the first death under the joint life option, the insurance company pays the sum assured and the plan still continues. During the death of the second life, the insurance company pays an additional sum assured. Both the cases the death has to occur during the policy term
• The death benefit can be taken in instalments over 5 or 10 year period
• Offers rebate in premium if you opt for a high sum assured
• Offers special premiums for non-smokers and preferred non-smokers

Bajaj Life i-Secure More Term Insurance Plan

This plan can be bought through the website. The features of this plan are mentioned below:

• The minimum entry age is 18 years and maximum age is 60 and the maturity age is 70 years
• The minimum sum assured is 2.5 Lakhs and there is no limit for the maximum sum assured
• You can buy this plan on a single and joint life basis for your spouse
• This is an increasing coverage term plan where the sum assured increase by 5% up to maximum of 200% and then it ceases
• If the insured passes away, the sum insured is paid to the nominee under the single life option
• During the first death under the joint life option, the insurance company pays the sum assured and the plan still continues. During the death of the second life, the insurance company pays an additional sum assured. Both the cases the death has to occur during the policy term
• The death benefit can be taken in instalments over 5 or 10 year period
• Offers rebate in premium if you opt for a high sum assured of Rs.5 lakh and above
• Offers special premiums for non-smokers and preferred non-smokers
• Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly.

Bajaj Life iSecure Loan

This plan can be bought through the website. The features of this plan are mentioned below:

• The minimum entry age is 18 years and maximum age is 60 and the maturity age is 65 years
• The minimum sum assured is 3 Lakhs and there is no limit for the maximum sum assured
• You can buy this plan on a single and joint life basis for your business partner, spouse or child
• The plan has to be bought according to your outstanding loan amount. This amount would form your sum assured too
• If the insured passes away, the sum insured is paid to the nominee under the single life option
• During the first death under the joint life option, the insurance company pays the sum assured and the plan still continues. During the death of the second life, the insurance company pays an additional sum assured. Both the cases the death has to occur during the policy term
• The death benefit can be taken in instalments over 5 or 10 year period
• If you buy the plan online, you would be eligible to earn 5% discount on your premiums
• Offers rebate in premium if you opt for a high sum assured of Rs.5 lakh and above
• Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly.

Bajaj Life Secure Term Insurance Plan

This plan can be bought through the website. The features of this plan are mentioned below:

• The minimum entry age is 25 years and maximum age in option 1 and 2 is 55 years and in option 3 is 50 years
• The minimum sum assured is 20 Lakhs and no maximum limit
• It is a whole life plan that offers 3 options. 1st option is death benefit wherein the nominee gets paid the sum assured only after the insured’s death
• 2nd option is death benefit plus accidental death benefit wherein the nominee gets paid the sum assured only after the insured’s death. If death occurs before 65 years and due to an accident, an additional sum assured is paid which is equal to the sum assured on death @ 2 crores maximum
• 3rd option is death benefit or accelerated critical illness plus waiver of premium benefit wherein the nominee gets paid the sum assured only after the insured’s death. If the insured suffers from any critical illness before 65 years and during the first 30 years of the policy period, then 50% of the sum assured is paid to the nominee @ maximum of Rs.50 lakhs. Any future premiums are further waived off. After this term if death occurs, then the balance 50% sum assured is paid to the nominee after death of the insured.
• If the insured survives the maturity period or say lives till 100 years, then under option 1 & 2, the sum assured is paid. Under 3rd option, the sum assured is paid minus the critical illness expenses.
• Offers rebate in premium if you opt for a high sum assured of Rs.20 lakh and above
• Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly.
• Offers special discounts on premiums to the females.

Bajaj Life Style Secure Term Insurance Plan

This plan can be bought through the website. The features of this plan are mentioned below:

• The minimum entry age is 18 years and maximum age is 50 years and the maturity age is 60 years
• The minimum sum assured is 3 Lakhs and maximum sum assured is 15 lakhs
• This plan mainly focuses on death benefits and terminal illness
• If the insured suffers death or gets diagnosed with terminal illness, the sum assured is paid off in monthly installments during the entire policy period
• Offers rebate in premium if you opt for a high sum assured of Rs.3 lakh and above
• Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly.

Bajaj Life eTouch Online Term Plan

This plan can be bought through the website. The features of this plan are mentioned below:

• This plan offers comprehensive protection to you
• Offers four variants such as Shield, Shield Plus, Shield Super and Shield Supreme
• Offers plan at lower premiums for non-tobacco users
• Offers a lump sum benefit or monthly instalments to the nominee post your demise.
• Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly.

When it comes to claim settlement ratio, Bajaj Life has a very healthy record. That's strikingly encouraging for their potential customers. Pricing wise, their products perform quite well in comparison to their counterparts from competitors.

Backed by the array of top-notch insurance professionals and a trustworthy brand, Bajaj Life insurance company delivers unbeatable services to their customers. Their commitments about stringent response times for service delivery and claims undeniably reserves one of the top slots for them in insurance domain in India.