A Review on Bajaj Allianz eTouch Online Term Insurance Plan

Bajaj Allianz Life eTouch Online Term Insurance Plan is a pure term insurance plan that ensures financial protection for your family. This term plan provides cover on occurrence of death & Accidental total and permanent disability. It pays the life benefit to the family that takes care of expenses such as child’s education/marriage, loan repayment or other expenses. This bajaj allianz term insurance plan can be bought online and ensures peace of mind as well.

Key Features of Bajaj Allianz Life eTouch Online Term Insurance Plan

  • Comprehensive & affordable protection
  • Coverage till 75 years
  • Inbuilt Waiver of premium benefit
  • Four variants to boost protection
  • Benefits as a lump sum or monthly installments
  • Premium discount for non-tobacco users
  • Buy plan online
  • Avail tax benefits

Plan Benefits of Bajaj Allianz Life eTouch Online Term Insurance Plan

Death Benefit:

In case of unfortunate demise of the life insured within the policy period, the death sum assured is payable to the nominee, depending on the variants and payout option chosen.

You can choose from 4 variants.

  • Shield: Sum Assured on Death with Waiver of Premium (on Accidental total and permanent disability)
  • Shield Plus: Sum Assured on Death with Waiver of Premium (on Accidental total and permanent disability) plus ATPD Benefit
  • Shield Super: Sum Assured on Death with Waiver of Premium (on Accidental total and permanent disability) plus ADB plus ATPD Benefit.
  • Shield Supreme: Sum Assured on Death with Waiver of Premium (on ATPD OR CI) plus Accelerated CI Benefit plus ATPD

Tax Benefit:

Under this plan, you can avail tax benefit under section 80C for the premiums paid and the payouts, including Death, accidental death, accidental permanent total disability and critical illness are eligible to get tax benefit under section 10(10D) of the Income Tax Act, 1961.

Eligibility Criteria:

Factor Minimum Maximum
Age (as on last birthday) 18 years 65 years
Age at Maturity 75 years
Policy Tenure 10 years 40 years
Premium Paying Term Same as policy term Years
Premium Paying Mode Single,Annually,Half-Yearly & Monthly
Sum Assured 50 Lacs No limit (subject to underwriting)
Premium Rs 5,000 (annually)
Maturity Proceeds Nil
Plan Type Online

Premium Illustration:

Mr. Abhishek aged 30 years buys a Bajaj Allianz Life eTouch Online Term plan with Shield Plus Variant. He chooses this plan with the policy term of 20 years, annual premium of Rs 17,273 and sum assured of Rs 3 Crores.

Death Benefit: On unfortunate death of Abhishek, his nominee gets Rs 3 crores (Sum Assured on Death) and the policy terminates after payment of this benefit.

Disability Benefit: At 40 years of age, Abhishek meets with a road accident that leads to a total permanent disability. Due to this disability, he will receive Rs 2 crores as an additional sum assured. All the future premiums are waived and the policy continues.

Conclusion

As it is one of the topmost Bajaj Allianz term insurance plans, this plan ensures comprehensive financial protection for you & your family against an unfortunate event during the policy term. This term insurance plan is available online, so you can enjoy hassle-free procedure to buy this plan and ensure financial security for your family, in the event of a mishap.

Harjot Singh Narula

Harjot Narula is founder and CEO of ComparePolicy.com, an IRDAI approved insurance web aggregator focussed on selling online insurance for companies. Harjot has more than a decade of experience in software development and has also spent 5 years in US working for the mortgage and risk management industry.

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