What is a Bajaj Allianz Term Plan?
Bajaj Allianz Term Insurance Plan is a level cover term assurance plan that secures your family’s financial needs by giving you a level term cover for a higher sum assured, but at a low cost.
What are its key features?
Term insurance policy gives tax benefits. You receive tax exemption as per 80C and 10(10D)* of the Indian Income Tax Act. Get the advantage of a level term insurance cover at low cost, especially for larger sum assured. Term insurance companies reward the insured people for maintaining a healthy lifestyle, if applicable, with special premium rates for non-smokers and medically fit non-smokers. Benefit of attractive high sum assured rebate. Your nominee will have the option to take the death benefit in equal monthly installments over a period of 5 or 10 years. Select your policy term of 10, 15, 20, 25 or 30 years depending on your requirement. Alter your term insurance premium payment frequency. Include your spouse at a later date in your existing policy, if you are single at present. Plan to meet recurring expenses of your loved ones by opting for payment of benefit in annual installments.
What are its benefits?
Tax Benefits Death Benefit-A.Individual Life,B. Joint Life
What is the claim ratio?
Bajaj Allianz claim ratio is 91.67%. Bajaj Allianz has high claim settlement ratio due to its efficiency and speed of processing claims. Claim settlement ratio is the number of claims settled divided by the total number of claims reported in a given financial year, including the claims outstanding at the beginning of the financial year.
The most important differentiator is InsureMile’s ‘Buy A Policy, Feed A Child’ mission. For every policy you buy, InsureMile on your behalf contributes 25 meals to a child. You are thus becoming part of a Social Movement to eradicate hunger among children in India. There is no additional amount to be paid for the social cause. It is part of the premium. You can claim tax benefits for the donation you have made.