Buy Bajaj Allianz Life Term Insurance plans

Below are the Bajaj Allianz term insurance plans offered by Bajaj Allianz life insurance company limited:-

Bajaj Allianz Life Smart Protect Goal:

Bajaj Allianz smart protect goal is an individual, life, non-linked, no-participating, single/limited/regular premium payment, savings (ROP) and pure risk term cover plan, providing protection and add-on covers. The Bajaj Allianz Smart protect goal claim settlement ratio is 93.55%.

Let us understand the Features, Benefits, Terms and conditions linked to the plan:

Features:

• Entry Age: Minimum 18 years to Maximum 65 years
• Maximum age at Maturity: 75 years with ROP, 85 years without ROP, 99 years Whole Life
• Sum Assured: Minimum 50 Lacs and Maximum as per Board approved guidelines.
• Life Cover: Self
• Premium Payment: Single payment, Regular payment or Limited payment.

Term Insurance Variants:

• Whole of Life: Under this variant the life cover is available up to 99 years term insurance of age of the insured customer.
• Return of premiums (ROP):Under this variant,  if no claim has been made for the variant or add-on cover, the total premium paid during the policy period for the variant or add-on cover opted for, will be returned to the customer on their respective maturity dates. The Bajaj Allianz term plan with Return of premium option is not available for Whole life variant.
• Life Cover with Child Education Extra Cover: Under this variant,  the bajaj allianz child education plan cover would be provided in addition to the life cover for the insured customer. In case of sudden death of the insured customer, Bajaj Allianz Life Insurance Company would provide child education expenses to the family of the insured.
• Life Cover with Joint Life:Under this variant, the insured has the option to include his/her spouse in the same term life insurance policy. The sum assured under this variant would be limited to a maximum of 75% of the insured’s sum assured. The insurance policy would continue to exist even if the insured or spouse expires during the policy period.
• Increasing Life Cover:Under this variant, the sum assured under the life insurance policy would be increased with each passing year. The sum assured can be increases up to 10% each year which helps in preventing the insured in fighting the inflation. The premium for increasing life cover variant would be slightly higher compared to the other variant options.

Add-ons:

There are certain add-ons which are available under the Bajaj Allianz Life Smart Protect Goal which are detailed below:-

• Accidental Death Benefit:In case of death due to an accident, the sum assured chosen under the Accidental Death benefit add-on will be given to the nominee of the insured. The accidental death benefit sum assured is extra to the base sum assured under the Bajaj Allianz Life Smart Protect Goal term insurance plan.
• Accidental Total Permanent Disability Benefit:In case of occurrence of total permanent disability of the life assured due to an accident, the sum assured selected under Accidental total permanent disability benefit section would be payable and the life insurance policy will continue. The disability should be total and permanent in nature for the insurance company to pay under this add-on.
• Critical Illness:In case of diagnosis with any of the listed critical illness, the sum assured chosen for the critical illness benefit would be payable to the insured customer. In case of minor critical illness other than Angioplasty, 25% of the Critical illness benefit would be payable and for Angioplasty lower of 5 lacs or 25% critical illness benefit would be payable.
• Waiver of Premium Benefit on Critical Illness: On occurrence of fourth minor Critical illness or on the date of occurrence of the first Major CI,  whichever is earlier, all future premiums due under the policy will be waived and the add on cover will terminate immediately and automatically.

The variant/ add-on/ options can only be chosen at the inception of the policy and cannot be altered or added during the policy period.

Terms and Conditions:

There are certain terms and conditions which are available under the Bajaj Allianz Life Smart Protect Goal are detailed below:-

• Surrender Value: For regular premium with Return on premium, if at least two full years premiums under the policy are paid. For limited premium with Return of premium, if at least two years premiums are paid under the policy. For limited premium without return of premium option, surrender value would be available only after the premium payment term. For single premium payment with/without ROP, the surrender value would be available anytime after surrendering the policy.
• Free look period: A free look period of 15 days of the receipt of the policy and 30 days in case of electronic policy obtained through distance mode would be given to the insured customer to return the insurance policy or cancel the policy if not satisfied with the terms and conditions mentioned in the policy. A written notice of cancellation along with the reasons for the same should be given to the Bajaj Allianz life to cancel the insurance policy and process the refund.
• High Sum Assured Rebate: A rebate will be applicable in case of High sum assured cases. The rebate would be applicable on the premium for every additional 1 lacs increase in sum assured over and above Rs.50 Lacs and will be based on the variant, smoker categorization, sum assured slab for each age and policy term. HSAR is not applicable to sum assured above Rs.3 Cr.
• Female Life Rebate: A special rebate will be applicable to female lives. The premium rate applicable to female life will be based on the premium rate of 3 years younger male. For instance if the age of the female applicant is 23 years then the premium would be same as that of 20 years male applicant.
• Suicide Claim Provisions: If the life assured commits suicide within 12 months of the inception of the policy or the date of latest revival of the policy, whichever is later, the higher of 80% of the total premiums paid or the surrender value as on the date of the death will be paid as the death benefit, provided policy is in force.
• Grace Period: A grace period of maximum up to 30 days will be provided to the insured customers to make the renewal premium payment. If the insured fails to make the renewal payment within the grace period the life insurance policy would lapse.
• Waiting period: For major/minor CI conditions, a waiting period of 180 days is applicable form the date of issue of policy or date of revival or reinstatement whichever is later. For policies sourced through POS channel, a waiting period of 60 days from the risk commencement date shall be applicable.
• Survival Period: 14 days survival period from the date of diagnosis of any CI condition is mandatory under the life insurance plan.
• Cooling Period: Up to four (4) Minor CI conditions can be claimed over the term of the policy subject to Cooling-off period of 180 days. Cooling-off period of 180 days applies from date of diagnosis of one (1) Minor stage CI condition to the date of diagnosis of another Minor stage CI condition. However, Cooling-off will not apply in case of diagnosis of any Major stage condition claim following a claim settlement ratio made for a Minor stage condition.
• Policy Loan: No loan is permitted under the Bajaj Smart Protect Goal plan.

Bajaj Allianz Life Saral Jeevan Bima:

Bajaj Allianz Life Saral Jeevan Bima is a non-linked, no-participating, individual premium life insurance plan, which provides for payment of Sum Assured in lump sum to the nominee in case of the Life Assureds’ unfortunate death during the policy term. Let us understand the Features, Benefits, Terms and conditions linked to the plan:

Features:

• Entry Age: Minimum 18 years to Maximum 65 years
• Maximum age at Maturity: 70 years. For policies sourced through POS channel, the maximum maturity age will be as per the POS guidelines as amended from time to time.
• Sum Assured: Minimum-Rs. 5 Lacs and Maximum – Rs.25 Lacs
• Policy Term: Minimum-5 years and Maximum – 40 years
• Life Cover: Self
• Premium Payment Options: Single payment, Regular payment or Limited payment period for 5 years and 10 years.
• Premium Payment Modes : Single/ Yearly/ Half yearly/ Monthly

Plan Benefits:

• Death Benefit: The policy will cover death due to an accident only during the waiting period of 45 days from the date of commencement of risk. In case of death of the Life Assured other than due to accident during the waiting period, an amount equal to 100% of all the premiums received excluding taxes, if any, shall be paid and the Sum Assured shall not be paid.” The death benefit mentioned would be payable as lumpsum and would be applicable in case of death of the policyholder during the waiting period or death of the policyholder due to any reason after the expiry of the waiting period.
• Maturity Benefit: No maturity benefit would be payable under the Bajaj Allianz life Saral Jeevan Bima policy.
• Optional Riders: No riders are available under the Bajaj Allianz life Saral Jeevan Bima policy.

If the premium is not paid before the end of the grace period, then the policy will, immediately and automatically, lapse at the expiry of the grace period from the date of first unpaid premium and no benefit under the policy would be payable.

Terms and Conditions:

There are certain terms and conditions which are available under the Bajaj Allianz Life Smart Protect Goal are detailed below:-

• Surrender Value: No surrender value would be available anytime after surrendering the policy.
• Policy Cancellation Value: Policy cancellation value shall be paid and the formula for the same would be 70% * Premium paid * Unexpired policy term/ Original policy term.
• Change in premium payment frequency: The premium payment frequency in a limited/regular premium policy may be changed on any policy anniversary during the policy term, subject to the availability, then, of the premium payment frequency and the minimum premium allowed under the product then.
• Free look period: A free look period of 15 days of the receipt of the policy and 30 days in case of electronic policy obtained through distance mode would be given to the insured customer to return the insurance policy or cancel the policy if not satisfied with the terms and conditions mentioned in the policy. A written notice of cancellation along with the reasons for the same should be given to the Bajaj Allianz life to cancel the insurance policy and process the refund.
• High Sum Assured Rebate: A rebate will be applicable in case of High sum assured cases. The rebate would be applicable on the premium for every additional 1 lacs increase in sum assured over and above Rs.5 Lacs and will be based on the variant, smoker categorization, sum assured slab for each age and policy term.
• Female Life Rebate: A special rebate will be applicable to female lives. The premium rate applicable to female life will be based on the premium rate of 3 years younger male. For instance if the age of the female applicant is 23 years then the premium would be same as that of 20 years male applicant.
• Suicide Claim Provisions: Under Regular/Limited Premium Policy; The policy shall be void if the Life Assured commits suicide at any time within 12 months from the date of commencement of risk, provided the policy is in-force or within 12 months from the date of revival and the Insurance Company will not entertain any claim except for 80% of the premiums paid (excluding any extra amount if charged under the policy due to underwriting decisions, taxes and rider premiums, if any) till the date of death. This clause shall not be applicable for a lapsed policy as nothing is payable under such policies.
  Under one time premium policy: The policy shall be void if the Life Assured commits suicide at any time within 12 months from the date of commencement of risk and the Insurance Company will not entertain any claim except 90 % of the Single Premium paid excluding any extra amount if charged under the policy due to underwriting decisions and rider premiums, if any.
• Grace Period: A grace period of maximum up to 30 days will be provided to the insured customers to make the renewal premium payment. If the insured fails to make the renewal payment within the grace period the life insurance policy would lapse.
• Waiting period: Waiting period of 45 days from the date of commencement of risk would be applicable under the Bajaj Allianz Life Saral Jeevan Bima life insurance policy. In case of revival of policy, the waiting period shall not be applicable.
• Policy Loan: No loan is permitted under the Bajaj Allianz Life Saral Jeevan Bima plan.

Bajaj Allianz Life eTouch Online Term:

Bajaj Allianz Life eTouch Online Term is a non-linked, non-participating, life, regular premium payment, individual, pure risk premium Bajaj Allianz Life online term plan. The plan provides life cover combined with benefit on accidental death, accidental total permanent disability & critical illness and benefit of waiver of premium, depending on variant opted by the insured. Let us understand the Features, Benefits, Terms and conditions linked to the plan:

Features:

• Entry Age: Minimum 18 years to Maximum 65 years
• Minimum age at Maturity: 28 years
• Maximum age at Maturity: 85 years
• Policy Term: Minimum – 10 years and Maximum – 67 years
• Sum Assured: Minimum 25 Lacs and Maximum as per Board approved guidelines.
• Life Cover: Self
• Premium Payment: Single payment, Regular payment or Limited payment.

Variants:

• Shield (Life Benefit + Waiver of premium with ATPD): Under this variant, all the future premiums payable would be waived off and the policy will continue in case the insured customer suffers Accidental Total Permanent Disability. On death of the life assured, the sum assured on death will be paid and the policy will terminate. For example, Mr. Sam purchased Shield variant with Life benefit of Rs. 1 Cr and after few years he met with an accident and suffered total permanent disability. Now the insurance company will waive off all the future premium payable and the policy would continue. On Mr. Sam’s unfortunate death, his nominee gets Rs.1 Cr and the policy terminates.
• Shield Plus (Life Benefit + Accidental Total Permanent Disability Benefit+ Waiver of premium on ATPD): Bajaj Allianz shield plus variant, in case of the Accidental total permanent disability of the insured, an amount equal to the sum assured (subject to a maximum of Rs.2 Crores) will be paid as ATPD benefit and all the future premiums under the policy will be waived, and the policy will continue with life cover. On death of the life assured, the sum assured on death will be paid and the policy will terminate. For example, Mr. Sam purchased Shield variant with Life benefit of Rs. 1 Cr & ATPD of Rs.50 Lacs and after few years he met with an accident and suffered total permanent disability. Now the insurance company will waive off all the future premium payable in addition to the payment of Rs.50 Lacs ATPD and the policy would continue to be in force. On Mr. Sam’s unfortunate death, his nominee gets Rs.1 Cr and the policy terminates.
• Shield Super (Life Benefit + Accidental Death benefit + Accidental Total permanent disability benefit with Waiver of premium): In case of Accidental Total Permanent disability, an amount equal to the sum assured (subject to a maximum of Rs.2 Crores) will be paid as ATPD benefit & all the future premiums under the policy will be waived, and the policy will continue with all its remaining benefits. In case of death of the life assured due to an accident, sum insured on death will be paid in addition to the an amount equal to the sum assured (subject to a maximum of Rs. 2 Crores) will be paid as ADB and the policy will terminate. In case of death of the policyholder, not due to an accident, then the life benefit sum insured will be paid to the nominee of the policyholder and the policy will terminate.
• Shield Supreme (Life Benefit + Accelerated Critical illness+ Accidental Total permanent disability benefit + Waiver of premium): If the diagnosed CI requires Angioplasty, fixed ACI benefit of Rs.5Lacs will be paid. WOP is not applicable, if Angioplasty is conducted for CI. No further ACI benefit will be paid for any future occurrence of Angioplasty. But, the policy will continue for other benefits, including remaining amount of ACI benefit for the remaining CIs covered, subject to payment of all due premium. In case of Accidental Total Permanent disability, an amount equal to the sum assured (subject to a maximum of Rs.2 Crores) will be paid as ATPD benefit & all the future premiums under the policy will be waived, and the policy will continue with all its remaining benefits. In case of death of the policyholder, If ACI benefit has been paid earlier, then, Sum Assured on Death minus the amount of ACI benefit already paid will be payable. If ACI benefit has not been paid earlier, then, Sum Assured on Death will be paid.

Add-ons:

There are certain add-ons which are available under the Bajaj Allianz Life Smart Protect Goal which are detailed below:-

• Accidental Death Benefit: In case of death due to an accident, the sum assured chosen under the Accidental Death benefit add-on will be given to the nominee of the insured. The accidental death benefit sum assured is extra to the base sum assured under the Bajaj Allianz Life Smart Protect Goal term insurance plan.
• Accidental Total Permanent Disability Benefit: In case of occurrence of total permanent disability of the life assured due to an accident, the sum assured selected under Accidental total permanent disability benefit section would be payable and the life insurance policy will continue. The disability should be total and permanent in nature for the insurance company to pay under this add-on.
• Critical Illness: In case of diagnosis with any of the listed critical illness, the sum assured chosen for the critical illness benefit would be payable to the insured customer. In case of minor critical illness other than Angioplasty, 25% of the Critical illness benefit would be payable and for Angioplasty lower of 5 lacs or 25% critical illness benefit would be payable.
• Accelerated Critical Illness Benefit: In the add-on the insured customer would be paid a part of the base sum assured as the critical illness benefit upon diagnosis with any of the listed critical illnesses.
• Waiver of Premium Benefit on Critical Illness & Accidental Total Permanent Disability: All the future premiums to be paid by the insured would be waived off by the insurance company if the policyholder is diagnosed with Accidental total permanent disability or Critical illness after taking the life insurance policy. The Critical illness benefit and the accidental total permanent disability benefit would be payable to the insured and the policy would remain in force without premium payment obligation.

The variant/ add-on/ options can only be chosen at the inception of the policy and cannot be altered or added during the policy period.

Terms and Conditions:

There are certain terms and conditions which are available under the Bajaj Allianz Life Smart Protect Goal are detailed below:-

• Surrender Value: Available only if the premium payment type is limited premium. Under regular premium payment option no surrender benefit will be payable. For limited premium payment option during premium payment term, no surrender benefit will be payable. For limited premium payment option after premium payment term, surrender benefit shall be higher of GSV or SSVn.
• Maturity Benefit: There is no maturity benefit available under this plan.
• Free look period: A free look period of 15 days of the receipt of the policy and 30 days in case of electronic policy obtained through distance mode would be given to the insured customer to return the insurance policy or cancel the policy if not satisfied with the terms and conditions mentioned in the policy. A written notice of cancellation along with the reasons for the same should be given to the Bajaj Allianz life to cancel the insurance policy and process the refund.
• High Sum Assured Rebate: A rebate will be applicable in case of High sum assured cases. The rebate would be applicable on the premium for every additional 1 lacs increase in sum assured over and above the base sum assured and will be based on the variant, smoker categorization, sum assured slab for each age and policy term.
• Female Life Rebate: A special rebate will be applicable to female lives. The premium rate applicable to female life will be based on the premium rate of 3 years younger male. For instance if the age of the female applicant is 23 years then the premium would be same as that of 20 years male applicant.
• Suicide Claim Provisions: If the life assured commits suicide within 12 months of the inception of the policy or the date of latest revival of the policy, whichever is later, the higher of 80% of the total premiums paid or the surrender value as on the date of the death will be paid as the death benefit, provided policy is in force.
• Grace Period: A grace period of maximum up to 30 days will be provided to the insured customers to make the renewal premium payment. If the insured fails to make the renewal payment within the grace period the life insurance policy would lapse.
• Waiting period: For major/minor CI conditions, a waiting period of 90 days is applicable form the date of issue of policy or date of revival or reinstatement whichever is later. For policies sourced through POS channel, a waiting period of 60 days from the risk commencement date shall be applicable.
• Policy Loan: No loan is permitted under the Bajaj Allianz Life Smart Protect Goal plan.
• Change in premium payment frequency: The premium payment frequency in a limited/regular premium policy may be changed on any policy anniversary during the policy term, subject to the availability, then, of the premium payment frequency and the minimum premium allowed under the product then.

Bajaj Allianz Life iSecure:

Bajaj Allianz iSecure term plan is a non-linked, non-participating, individual, life, regular, and limited premium level cover pure risk premium plan that secures your family’s financial protection needs. In this plan, Bajaj Allianz iSecure term plan premium calculator is used to calculate the premium. Let us understand the Features, Benefits, Terms, and conditions linked to the plan:

Features:

• Entry Age: Minimum 18 years to Maximum 65 years
• Age at Maturity: Minimum - 28 years to Maximum - 85 years
• Sum Assured: Minimum-Rs.25 Lacs and Maximum – Rs.50 Lacs
• Policy Term: Minimum-10 years and Maximum – 85 years
• Life Cover: Self
• Premium Payment Options: Single payment, Regular payment or Limited payment period for 5,10,15,20, 25, & 30 years.
• Premium Payment Modes : Single/ Yearly/ Half yearly/ Monthly
• Riders: Not available for policies sourced through POS channel.

Plan Benefits:

• Death Benefit:
  • Individual Life: In case of unfortunate death of life assured during the policy term, provided all premiums are paid up to date, the benefit will be Sum Assured on Death.  The policy cover will terminate immediately on death of the life assured.
  • Joint Life: The death benefit is payable on death of each life, provided the policy is in-force. The benefit payable will be Sum Assured on Death. On death of any one of the life assureds, the policy will automatically continue on the surviving life assured with a reduced premium. The reduced premium will be based on the age, lifestyle category (if applicable), policy term, premium payment term and premium payment frequency of the surviving life assured as at the inception of the policy and the sum assured with respect to the surviving life under the policy.  The policy cover will terminate immediately on death of the surviving life assured.

• Maturity Benefit: No maturity benefit would be payable on survival till the end of the policy term under the Bajaj Allianz life iSecure.
• Surrender Benefit: For regular premium policies, surrender value is not payable. For limited premium policies, surrender value is available only after the premium payment term. The surrender value payable shall be higher of guaranteed surrender value and Special surrender value.
• Accidental Death Benefit: In case of death due to an accident, the sum assured chosen under the Accidental Death benefit add-on will be given to the nominee of the insured. The accidental death benefit sum assured is extra to the base sum assured under the Bajaj term insurance plan.
• Accidental Total Permanent Disability Benefit: In case of occurrence of total permanent disability of the life assured due to an accident, the sum assured selected under Accidental total permanent disability benefit section would be payable and the life insurance policy will continue. The disability should be total and permanent in nature for the insurance company to pay under this add-on.
• Waiver of Premium Benefit on Critical Illness & Accidental Total Permanent Disability: All the future premiums to be paid by the insured would be waived off by the insurance company if the policyholder is diagnosed with Accidental total permanent disability or Critical illness after taking the life insurance policy. The Critical illness benefit and the accidental total permanent disability benefit would be payable to the insured and the policy would remain in force without premium payment obligation.

If the premium is not paid before the end of the grace period, then the policy will, immediately and automatically, lapse at the expiry of the grace period from the date of first unpaid premium and no benefit under the policy would be payable.

Terms and Conditions:

There are certain terms and conditions which are available under the Bajaj Allianz Life iSecure are detailed below:-

• Option to take an Individual or a Joint Life policy: If the insured is married at the inception of the policy, then the spouse can be included only at the inception of the policy. If the insured would get married at a later date after taking the policy, then the spouse may be included in the life insurance policy subject to the existing terms and conditions. In a joint life policy, on annulment of marriage, the company needs to be informed of the annulment and second life will be excluded.
• Option to take death benefit in instalments: The death benefit under the iSecure can be taken by the nominee in instalments over a period of 5 years or 10 years from the date of intimation of death of the policyholder.
• Policy Cancellation Value: Policy cancellation value shall be paid and the formula for the same would be 70% * Premium paid * Unexpired policy term/ Original policy term.
• Change in premium payment frequency: The premium payment frequency in a limited/regular premium policy may be changed on any policy anniversary during the policy term, subject to the availability, then, of the premium payment frequency and the minimum premium allowed under the product then.
• Free look period: A free look period of 15 days of the receipt of the policy and 30 days in case of electronic policy obtained through distance mode would be given to the insured customer to return the insurance policy or cancel the policy if not satisfied with the terms and conditions mentioned in the policy. A written notice of cancellation along with the reasons for the same should be given to the Bajaj Allianz life to cancel the insurance policy and process the refund.
• High Sum Assured Rebate: A rebate will be applicable in case of High sum assured cases based on the variant, smoker categorization, sum assured slab for each age and policy term. The rebate would be 5% for the policyholder age less than or equal to 40 years, 3% for age within 41 to 50, 1% for age more than or equal to 51.
• Suicide Claim Provisions: Under Regular/Limited Premium Policy; The policy shall be void if the Life Assured commits suicide at any time within 12 months from the date of commencement of risk, provided the policy is in-force or within 12 months from the date of revival and the Insurance Company will not entertain any claim except for 80% of the premiums paid (excluding any extra amount if charged under the policy due to underwriting decisions, tax benefits and rider premiums, if any) till the date of death. This clause shall not be applicable for a lapsed policy as nothing is payable under such policies.
  Under Bajaj Allianz single premium plan: The policy shall be void if the Life Assured commits suicide at any time within 12 months from the date of commencement of risk and the Insurance Company will not entertain any claim except 90 % of the Single Premium paid excluding any extra amount if charged under the policy due to underwriting decisions and rider premiums, if any.
• Grace Period: A grace period of maximum up to 30 days will be provided to the insured customers to make the renewal premium payment. If the insured fails to make the renewal payment within the grace period the life insurance policy would lapse.
• Policy Loan: No loan is permitted under the Bajaj Allianz Life Saral Jeevan Bima plan.

FAQ’s of Bajaj Allianz Term Life insurance

What is Bajaj Allianz term life insurance?

Bajaj Allianz term life insurance is a contract between the insurance company and the insured customer in which the insurance company agrees to pay the death benefit to the nominee of the insured in case of the sudden death of the policyholder in return for a nominal premium payment term to be paid as per the premium payment frequency opted by the policyholder. It has 4 term insurance plans to suit different requirements of different people. For more details on Bajaj Allianz term insurance plans.

How does the Bajaj Allianz Term plan work?

In term insurance plans the insured policyholder pays premium regularly in return for the life coverage against death and in case of death of the policyholder the death benefit would be paid to the nominee of the policyholder and the policy would lapse immediately. Bajaj Allianz term insurance plans work on the concept of pure term insurance policies in which the insurance company settles the death claim to the nominee in the event of the death of the policyholder.

What are riders in term insurance?

There are certain riders in term insurance which are explained below. Most of these riders are taken in addition to the existing base term insurance plans to increase the life coverage.

• Accidental Death benefit rider which provides the claim benefit to the nominee in case of death of the death of the policyholder due to an accident in addition to the base sum assured as mentioned in the policy.
• Accidental total permanent disability rider which provides claim benefit to the policyholder in case of total & permanent disability of the policyholder due to an accident.
• Critical illness rider which provides the critical illness claim benefit to the policyholder on diagnosis with any of the listed critical illness. The policyholder has to satisfy the waiting period to avail the benefit under critical illness rider.
• Waiver of premium rider which waives off all the future premiums payable by the policyholder in case of accidental total permanent disability or critical illness to the insured customer.

When is the best time to buy Bajaj Allianz term insurance plan?

The first best time to buy Bajaj Allianz term Policy is at the age of 18 years and the second best time is now. It is advisable to take the term insurance as soon as one starts earning as the premium would be low during a young age. To know the Bajaj Allianz Life Insurance best plans that suit your requirements and get assistance from our life insurance experts or compare Bajaj Life Insurance quotes online. 

What is minimum and maximum age limit for Bajaj Allianz term insurance plans?

The minimum age for taking term insurance plan from Bajaj Allianz Life Insurance Company is 18 years while the maximum age is 65 years in most of the term insurance plans .. Please note that the term insurance premium payable increases with increase in the age of the applicant. Higher age applicants have to shell out more money to purchase term insurance as the mortality rate is higher.