Bajaj Allianz Life eTouch Online Term Insurance Plan

ii) WOP - Waiver or Premium

iii) ADB - Accidental Death Benefit

iv) CI - Critical Illness

v) ACI - Accelerated Critical Illness

Eligibility Criteria for Bajaj Allianz Life eTouch Online Term Insurance Plan:

In order to get the , a prospective policy buyer must meet the following requirements:

Key features of Bajaj Allianz Life eTouch Online Term Insurance Plan:

Here are some of the key features of Online Term Insurance Plan listed out for you:

Benefits of Bajaj Allianz Life eTouch Online Term Insurance Plan:

The Bajaj Allianz Life eTouch Online Term Insurance Plan comes with plenty of benefits for the policyholder. Here are a few things you should know about:

1. Benefit details for different variants:
   1. In case the person insured is diagnosed with a CI, an ACI benefit of Rs.5,00,000 will be paid. Once the benefit is paid for a particular diagnosis, it can’t be claimed for another occurrence of the same illness. The policy will, however, include all the other ACI benefits for the remaining CIs covered, provided all the premiums are paid.
   2. In case of ATPD of the person insured, all of their future premium payments will be waived off, and the policy will still continue.
   3. In case of death of the person insured, the sum assured (-) any ACI benefit claimed earlier, will be paid. If no ACI benefit has been claimed, nominees will receive the full Sum Assured on death.
2. Death benefit and accidental death benefit (ADB): Below is the death benefit and accidental death benefit available on Bajaj Allianz Life eTouch Online Term Insurance Plan:
   1. 100% of the benefit in a single lump sum payment.
   2. 50% lump sum payment and the rest in level or increasing monthly installments.
   3. 100% payment in level or increasing monthly installments.
3. Tax Benefits: Premiums paid under this policy are eligible for tax benefits based on Section 80C of the IT Act. Also, death, critical illness, and accidental permanent total disability are eligible for tax benefits under Section 10(10D) of the IT Act, depending on the provisions mentioned.
4. How the policy works: The way Bajaj Allianz Life eTouch Online Term Insurance Plan works can be explained in four simple steps:
5. Step 1: Choose any one of the four variants: Shield, Shield Plus, Shield Super, and Shield Supreme.
6. Step 2: Choose the sum insured depending on your needs.
7. Step 3: Choose the policy term, which ranges from 10 years to 40 years.
8. Step 4: Choose the premium payment frequency.
9. Note: Premiums offered will be based on the applicant’s gender, age, sum assured, policy term, premium payment frequency, and the variant chosen.
10. Revival terms for Bajaj Allianz Life eTouch Online Term Insurance Plan:If the policyholder fails to pay the premium within the grace period, they will still be able to revive the policy, provided they fulfill the following requirements:
    1. They should send a written application for revival within a period of 2 years from the due date of the first unpaid premium.
    2. They should pay all the due premium along with any applicable interest. Currently, the interest rate stands at 10% p.a., which is compounded bi-annually.
    3. They should undergo a thorough medical examination under their own expense and furnish evidence of the same.
    4. The revival will only happen if the company explicitly communicates it with the policyholder.
    5. The revival policy may come with different terms as opposed to the conditions at the inception of the policy. New terms will basically be approved by a prevailing board.