Insurance

A Review on Bajaj Allianz eTouch Online Term Insurance Plan

Bajaj Allianz Life eTouch Online Term Plan offers protection to ensure you & your family’s dreams are never compromised if something unfortunate happens to you. With this pure term plan, gift your family the shield against the uncertain events of life. The eTouch online term plan comes with 4 different variants, namely, Shield, Shield Plus, Shield Super, and Shield Supreme that will enhance the coverage.

With various variants available, people are seeking to buy Bajaj Allianz eTouch Online Term Plan. To enable the customers with the right buying decision, we have come up with a review of this online term insurance plan.

Key Benefits

Bajaj Allianz eTouch Online Term Insurance Plan offers the following key benefits:

  • Comprehensive life cover
  • Wider coverage till 75 years
  • 4 plan variants to boost the protection
  • Policy benefits as a lump-sum or in monthly installments
  • Premium discounts for non-tobacco users
  • Tax Benefits under the Income Tax Act

Plan Benefits

Let’s go through the key benefits available under Bajaj Allianz eTouch Online Term Plan.

Death Benefit

In the event of the untimely death of the life insured during the policy term, the total death sum assured is payable to the nominee as per the variants opted under the policy.

The plan offers four different variants:

  • Shield: Life Benefit WITH Waiver of Premium Benefit (on the occurrence of ATPD- Accidental total and permanent disability).
  • Shield Plus: Life Benefit WITH Waiver of Premium Benefit (on the occurrence of ATPD) PLUS ATPD Benefit.
  • Shield Super: Life Benefit WITH Waiver of Premium Benefit (on the occurrence of ATPD) PLUS Accidental Death Benefit (ADB) PLUS ATPD Benefit.
  • Shield Supreme:  Life Benefit WITH Waiver of Premium Benefit (on the occurrence of ATPD OR CI) PLUS Accelerated CI Benefit PLUS ATPD.

Tax Benefit

The premium paid will qualify for tax benefits under section 80C, and the policy benefits will be entitled to tax benefits under section 10 (10D) of the Income Tax Act, 1961.

Eligibility Conditions

Factor Minimum Maximum
Age (as on last birthday) 18 years 65 years
Age at Maturity 28 years 75 years
Policy Term 10 years 40 years
Premium Amount Rs 5,000 (annually) Depending on the maximum sum assured
Premium Payment Frequency Yearly, Half Yearly, Quarterly, and Monthly
Premium Payment Term 10 years 40 years
Sum Assured Rs 50 Lakh No Limit (subject to underwriting)

How does Plan Work?

Let us understand the policy coverage with the example of a policyholder Rajesh Singh.

Life Insured: Rajesh Singh (non-smoker)

Age of life Insured: 30 years

Policy Term: 30 years

Sum Assured: 1 crore

Annual Premium: Rs 8,785

Scenario A

On the death of the life assured, the Sum Assured on Death will be paid and the policy will terminate.

Scenario B

In case of an accident that leads to total permanent disability, all the future premiums under the policy will be waived off, and the policy will continue.

Conclusion

Bajaj Allianz eTouch Online Term Insurance Plan offers financial security and thus family’s future is never compromised, even in case of an unfortunate event during the policy term. You can read the features & benefits for this term plan, and then choose a life cover that suits your family’s financial needs.

The post A Review on Bajaj Allianz eTouch Online Term Insurance Plan appeared first on Comparepolicy.com.

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