Insurance Plans 357 views November 20, 2019

Bajaj Allianz Term Plan

Bajaj Allianz Term Plan is considered to be among the best in the country. This is because the plans are economical as well as wholesome. You get many benefits when you purchase a term life insurance cover from Bajaj Allianz, one of the top life insurance companies in India.

Term Insurance

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Why Bajaj Allianz Term Insurance Plan? 

With so many options available, you may wonder what the benefits of the term plan from Bajaj Allianz are. There are some very good reasons that make the term life covers from Bajaj Allianz the best term plan in India. They include:

1. Many options

When you choose to buy your term plan from Bajaj Allianz, you are not faced with limited options. The company has a variety of term covers to choose from. There are different types of term plan in India and Bajaj Allianz has most of the types on offer. You can find some excellent term plan at some great rates. The best plans include:

  1. Bajaj Allianz Life eTouch Online Term
  2. Bajaj Allianz i-Secure
  3. Bajaj Allianz Total Health Secure Goal

Go over the features of each plan and see which one suits your requirements in the best possible manner.

2. Affordable

Another reason for the popularity of the Bajaj Allianz term plan is the affordability factor. These life covers are very economically priced. Since term insurance offers a pure life cover and does not usually have a return component, they are one of the most affordable types of life insurance covers. Bajaj Allianz is a large and established insurance provider and so offers its products at some of the most competitive rates. When you buy a term plan from this insurance company, you are assured of getting the best rates.

3. High claim payout

Bajaj Allianz term plan has a healthy claim settlement ratio of over 92%. This is a very positive figure and tells you that the company settles more than 9 out of every 10 claim requests received. The claim settlement ratio is always a positive pointer towards the wellbeing of a life insurance company.

4. Simple online process

You can buy the term plan from Bajaj Allianz with the click of a button. The company has an enhanced digital presence that makes buying term insurance very easy. You can also complete other tasks such as premium payments, renewals, claim initiation, etc on the insurer’s website or mobile app.

These are the main benefits you get when you buy your term insurance policy from Bajaj Allianz Life Insurance.

How to find the best term insurance plan in India? 

Buying a good term plan will make your family safe. But for that, the best and most suitable term insurance cover needs to be bought. Here are some tips to find the best option:

1. Assess your requirements

To ensure you find the best term insurance plan, you need to know what you need. There are many good term insurance policies available in India. There are different types of term insurance available too. However, every single plan may not be of use to use. This is why you need to judge your own needs and see which plan is ideal for you. Once that is done, you can proceed towards finding a similar coverage among the options available in the shortlisted category.

2. Make a budget

Next, you need to make a budget. The various types of term insurance vary in price. Also, the volume and the scope of the life cover affect its premium rates. You, therefore, need to assess your financial capacities to see how much you can spare for your term life insurance cover. It is definitely ideal to find the largest and most wholesome cover, but you need to be practical and select a plan that suits your pocket.

3. Compare

Compare life insurance to get the best quotes and also to know which plan offers what features. It is very easy to compare the available options. You can visit the official website of Bajaj Allianz Life Insurance and scan over the term insurance options. Once you do that, you will get to do a comparative study and then select the ideal term insurance plan.

Once you do this, you will know which term insurance policy is best suited for yourself. Buy the life cover and secure the financial wellbeing of your family members.

Term insurance FAQs

What are the documents required for buying Bajaj Allianz term plan?

The documents needed for term insurance are:

  1. Address proof – Any government-issued card that has on your address on it will be valid for this purpose. You can also submit your bank passbook or a utility bill for this purpose.
  2. ID proof – Your passport, Aadhaar card or any other government-issued ID card can be used here.
  3. Income proof – You need to submit your salary slip, IT returns and the bank statement of the last 6 months.

Does Bajaj Allianz term plan also offer joint policies for spouses?

A married couple has the option of getting a joint term plan. Most of the leading life insurance companies, including Bajaj Allianz, offers joint policies. The coverage offered will be higher since two lives will be covered under the same policy.

Do I need to buy Bajaj Allianz term plan even if I am not married?

Term insurance is an extremely handy form of life insurance. It is advisable for you to get the plan when you are young and single. At such a time, you can get the plan at a much lower cost. You can carry on with the cover later also when you get married and have a family of your own.

Summary

Term insurance is of great use. You must get a good term insurance plan from a good insurance provider such as Bajaj Allianz and keep yourself as well as your loved ones secured. As you saw, a good term life cover offers several benefits. So go ahead, do your research and find the most suitable Bajaj Allianz term plan for yourself.

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