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Term Insurance 295 views February 5, 2021
Bajaj Allianz Life eTouch Online Term can help protect yourself and your loved ones from any unforeseen circumstances. This plan from Bajaj Allianz is a regular premium payment, pure term and health cover plan that comes with different variants for you to choose from.
Want to know more about the Bajaj Allianz Life eTouch Online Term? Well, we will discuss its striking features, policy benefits, premium amount, policy term, premium payment term, etc. Read on to know more!
Table of Contents
Bajaj Allianz Life eTouch Online Term Plan Features at a Glance
Every term insurance plan has a set of striking features that make it popular among the customers. You must be wondering the same about the Bajaj Allianz Life eTouch Online Term? Well, you can check those below.
- Bajaj Allianz Life eTouch Online Term offers you the flexibility to choose from four variants according to your requirements. These variants are Shield, Shield Plus, Shield Super, and Shield Supreme.
- Depending on the chosen variant, you can get comprehensive protection with benefits such as life cover added with the benefit upon accidental death, accidental total permanent disability & critical illness, and waiver of premium.
- Your nominee can also choose to receive the policy benefits in case something unfortunate happens to you according to his or her convenience. There are three options — 100% benefit as a lump sum, 50% benefit in lump sum & remaining in level or increasing monthly installments, or 100% of the benefit in level or increasing monthly installments.
- If you are a non-tobacco user, you can get an additional discount on the premium rate for this plan from Bajaj Allianz based on the smoker categorization, the variant option chosen, the sum assured slab for different ages, and the policy term. This rebate will be available on every additional INR 1 lakh amount above the basic sum assured.
- You can also choose to pay the premium from different frequencies of yearly, half-yearly, quarterly, and monthly. However, all frequencies other than yearly are only available under the auto-debit process.
- On the premium paid towards policy and the benefits received, you can also enjoy tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
What is the Sum Assured under Bajaj Allianz Life eTouch Online Term?
You can get a minimum sum assured of INR 50,00,000, while the maximum sum assured will depend on the variant you choose. Do remember that sum assured can be only in the multiples of INR 1,00,000. To know more, please check the below table!
| Variant Option | Maximum Sum Assured |
|---|---|
| Life Benefit | No Limit |
| Accidental Death Benefit, Accidental Total Permanent Disability | INR 2 crores |
| Accelerated Critical Illness | INR 75,00,000 |
What is the Policy Term and Premium Payment Term?
In the case of the Bajaj Allianz Life eTouch Online Term, the policy term ranges from 10 to 40 years. When we talk about the premium payment term, it will be equal to the chosen policy term. Suppose you choose a policy term of 15 years, you will need to pay the premium for 15 years.
What is the Premium Amount?
The minimum premium amount that you need to pay towards Bajaj Allianz Life eTouch Online Term stands at INR 5,000 per annum while the maximum premium amount will depend on the sum assured chosen by you. Also remember that the premium amount for Shield, Shield Plus and Shield Super variants will remain the same throughout the policy term. However, for the Shield Supreme variant, the premium will remain the same for at least 5 years from the policy commencement date.
Bajaj Allianz Life eTouch Online Term Benefits
In the case of the Bajaj Allianz Life eTouch Online Term, the benefit will depend on the variant chosen by you. You can have more information about them in the below table. Do check!
| Plan Variant | Benefits Payable |
|---|---|
| Shield | In case of accidental total permanent disability (ATPD) of the life insured, all future premiums will be waived off On the death of the life insured, the nominee will receive the sum assured on death. |
| Shield Plus | In the case of ATPD, an amount equal to the sum assured up to INR 2 crore will be given plus all future premiums will be waived off On the death of the life insured, the nominee will receive the sum assured on death. |
| Shield Super | In the case of ATPD, an amount up to INR 2 crore will be paid and all future premiums will get waived off In the case of death of the life insured due to an accident, the sum assured on death plus an amount equal to the sum assured (up to INR 2 crore) will be given On the death of the life insured other than due to accident, the sum assured on death will be given |
| Shield Supreme | In the case of Critical Illness Diagnosis, a fixed benefit will be given plus a waiver of all future premiums (if critical illness doesn’t require angioplasty) In the case of ATPD, an amount up to INR 2 crore will be paid plus a waiver of all the future premiums On the death of the life insured, either sum assured on death minus Critical illness benefit or sum assured on death will be paid |
Bajaj Allianz Life eTouch Online Term Eligibility Criteria
Before choosing Bajaj Allianz Life eTouch Online Term, you should know about its eligibility criteria that are shown below. Have a look!
- The minimum age at entry can be 18 years, while it can go up to 65 years.
- An individual can have a minimum age of 28 years at the time of maturity, while the maximum can go up to 75 years.