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

  • 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

  • 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.

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 online term 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.

Source: https://www.comparepolicy.com/blogs/bajaj-allianz-etouch-online-term-insurance-plan/

Three Reasons to Choose an Online Term Life Insurance Plan

The term insurance plan is the purest form of insurance which provides pure protection. Under the policy agreement, the policyholder agrees to pay a certain amount in the form of premium. In return, the insurance company ensures policyholder to pay the amount equivalent to the sum insured to the beneficiary/nominee declared in the policy, after the death of the life insured within the policy period, provided the policy is enforced.

Buying of term plans is a prudent decision taken by an individual. Online term insurance help you secure your family’s future in the event of your  untimely unfortunate death. The family is indemnified with the policy proceeds and the financial loss may be compensated to some extent by the term plans.

Term Plans are sold offline through agents, brokers who act as an intermediary between an insurance company and the insured. But with the growth of Internet reachability  in India making  consumer  increasingly comfortable to transact online term insurance. As there is a massive growth in the online space, buying and selling of products and services has become a normal affair for many of us. An online buying arena for  insurance also has grown manifold.

These days buying  a Term Plan online is just like buying any product online. With the mushrooming of online portals which offer customer multiple benefits of buying a online term insurance through the internet.

Listed below are the top three reasons which will satisfy the apprehensions of any individual who is intending to buy a Term Life Insurance Plan.

  1. Cost Effective:

Online term insurance allows insurance companies to save their operational cost by a huge percentage as there is no intermediary commission, cost of an agency, physical cost of branches and the cost of paper proposal forms. That is the reason  insurance companies offer lower premium rates to the consumers. The saved cost by the insurer is passed on to the customer buying online term insurance. Term Plans purchased online are cost effective and affordable as compared to buying offline. So the customer gets higher coverage at a lower premium cost.

  1. Time Saving:

In our busy lives the only shortage we have is of time. Many of us don’t have ample time to invest in meeting agents and entertaining them when we are at home to spend time with our family. But when it comes to buying online insurance, it saves a lot of time of an individual. In a few clicks of a button you can buy online term insurance. The online buying process is a time-saving and easy way as compared to buying offline.

  1. Easy Process:

These days almost everything is available at a click. In our complex busy schedules most of us want to keep things simple and easy. Convenience of access is a major differentiator when it comes to buying term plan online; one should have an Internet connection  to purchase a online term insurance.  Online buying insurance includes filling up of the proposal form online only, which is very easy and uploading your relevant documents simultaneously. Many online portals like suggestinsurance.com offers expert guidance and assistance to the customer in resolving doubts and making the buying decision easy at no cost.

With India rising in the number of internet users, online buying of term plans will not be a myth rather a reality to make our loved ones future safe at few clicks only. Its prudent to compare various term plans online and buy the plan which fits you best.

Source: http://www.suggestinsurance.com/blogs/three-reasons-choose-online-term-life-insurance-plan/

Why Compare Before Buying An Online Term Plan

It is not uncommon for people to compare the prices of vegetables or basic grocery items that are used in day to day life. However, when it comes to buying term plans, most of them leave the decision on their trusted insurance agents and blindly follow their advice. Or else, they just act lazy and buy the first plan they come across after being recommended by a friend or a family member. Only if they knew about online term plan comparison, they could have saved lots of money and got amazing benefits too!

Do you want to know the advantages of comparing plans and saving your hard-earned money?

Here are they:

1) Financial Benefits

Mr. A, a 25-year-old non-smoker male trusted one of his well-wishers and blindly went by his advice. He bought a term plan for 40 years for a sum assured of Rs. 1 crore at an annual premium of Rs. 10,015/-. On the other hand, Mr. B, a 25-year-old male relied on himself, researched about various plans, compared them online and bought himself a policy from a different company for 40 years for a sum assured of Rs. 1 crore at an annual premium of only Rs. 7,410/-. Did you notice the difference in the premium amount? It’s Rs. 2605/-. Now, if both survive the term of the plan and pay for 40 years, Mr. A would end up paying as much as Rs. 1,04,200/- extra as a premium for the same financial benefit as Mr. B! Here it is important to note that this premium amount remains same throughout the term of the plan so once you decide to buy, you can’t change premium with the same plan till the term expires! It’s much better to compare life insurance policies before buying them for maximum benefits.

2) Terms and Conditions

Every insurer has a different set of terms and conditions that define how your contract is going to pan out over the years. Under what conditions claim can be rejected, what is required to get claims approved and many such details are mentioned in the terms of the plan and vary from insurer to insurer. Only after comparing different plans will you come to know if the terms work for you or not. The difference between a general plan and the best term insurance plan lies in the plan’s terms and conditions.

3) Claim Settlement Ratio

It is not only important for premiums to be lower, but also for the insurer to have a high claim settlement ratio. If the company is good at servicing claims and settles a high percentage of claims it receives, then it makes sense to invest with them so that your family members won’t have to struggle to get death benefits.

4) Tenure of the Plan

Certain term plans offer lower premiums, but the term of the plan offered is also pretty less. The true benefit of term plans is when they are bought at a young age and should last till the maximum age limit that the plan allows. This ensures adequate coverage at low premiums. Compare life insurance policies for such benefits rather than buying a plan that completes its term even before your retirement!

5) Informed Decision

Knowledge is power and comparing different term plans help you to make the right decision. It is advisable to buy a term plan for the long term possible, preferably 30-35 years. Hence, the decision you take today will have an impact on the major part of your life. Since the total period and premium of a policy can’t be changed during the term of the plan, online term plan comparison gives you sufficient information to analyze and choose the best product for you and your family.

As you can see, the benefits of comparing term plans are manifolds even if you’re buying online term plans. Due to heave competition, it’s a buyers’ market, and you can derive a lot of benefits by comparing. Spend a bit of time and buy the best term insurance plan for you and your family members.

Source: http://www.suggestinsurance.com/blogs/compare-before-buying-online-term-plan/

Why buy a term insurance cover?

All insurance firms across India sell term insurance to the customers. The rates are competitively low and often prove beneficial to the end users. So, it really doesn’t matter which company you take the cover from. Based on your relation with the sales agents and prior experience with the insurance firm, you can choose to take buy your online term insurance plans in India.  Nowadays, you can buy policies online and save up to 30 to 40% on the costs of premiums.

 

These online term insurance plans in India plans are best insurance policies in the market that give higher life cover with low premiums. But they don’t give any returns after the end of the tenure if you outlive it. These are plain protection plan that offers a financial blanket across the family of the insured person in case anything unfortunate happens to them.

 

Agents/sales person may lure customers with some guaranteed returns on maturity but in reality, these plans are high cover at lower premium costs with no returns. There is are some term insurance plans that offers returns but you will have to choose a separate rider such as “return of premium” that will help you gain some amount on the maturity.

 

Most of the other insurance plans are built around these plans. As the features are incorporated the premium might increase a little bit. Many times, the premium increase is very steep as the commission and company charges increase as a percentage of the premium. It increases rapidly in value terms.

 

The premium costs of online term insurance plans in India are major influencers when it comes to buying a life insurance policy.  However, it’s not the only factor to judge your insurance policy, the claim settlement ratio; financial goals also play a pivotal role in deciding the same.

 

While buying your term plan you have to be vigilant enough to choose the right insurance firm as per your foremost concern would be claim settlement ratio. It is because you will not be there at the time of claim settlement and you have to ensure that your family gets every penny of the insured value under the policy agreements.

 

You should look for a reputed and reliable insurance company whom you can trust has a better claim settlement ratio. That trust factor is important that the claim amount would be a distributed evenly amongst your family members.

 

Online term insurance plans in India structure is revised and made more customer-oriented in terms of affordable premium costs, better features, and easy online purchase. The online term plans have changed the insurance market dynamics. You can easily get an online term plan of Rs 1 crore, at mere premium costs of just Rs 7000/-

 

Thus, because of affordability of online term insurance plans in India, more and more people have started taking adequate insurance cover for their family. Indeed, the slashed premium amount has become a major component in the choosing term plans.

 

Besides, there are various riders such as accidental death benefit, critical illness, permanent disability, waiver of premium, etc. that can leverage your online term insurance plans in India to great extent and offer a sound financial cover to your loved ones in your absence.