Bajaj Allianz Life eTouch (116N172V03)
Features
- Shield for life to cover Death & Terminal Illness
- Flexibility to pay premiums throughout the policy term, or for a limited number of years, or till retirement (Age 60)
- Get back total premiums paid as Maturity benefit1
- Extra payout in case of death due to accident2
- Choose how family receives the benefit in customer absence, as a lump sum or a combination of lump sum & monthly income
- Exit early (after need for cover is over) and get back paid premiums* as Early Exit Value3
- Premium Holiday option which helps customer skip premiums for 1, 2 or 3 years during the premium payment term
- Tax benefits available on what customer pay & what customer or family receive, as per extant Income Tax Act
*Maturity Benefit is available with Life Shield ROP variant.
*Accidental Death Benefit is available with Life Shield Plus variant.
*Early Exit Value is available with Life Shield & Life Shield Plus variants.
Eligibility Criteria
|
Parameter |
Variant |
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Life Shield & Life Shield Plus |
Life Shield ROP |
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Cover up to Age 99 |
Cover not up to Age 99 |
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Age at Entry |
Minimum: 18 years Maximum: 65 years (For Pay till 60 option, Maximum: 55 years) |
Minimum: 25 years Maximum: 65 years (For Pay till 60 option, Maximum: 55 years) |
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Age at maturity |
99 years (For Life Shield Plus, for ADB: 85 years) |
Minimum: 28 years |
Minimum: 28 years |
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Maximum: 85 years |
Maximum: 85 years |
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Minimum Policy term |
99 minus Age at Entry (For Life Shield Plus, for ADB: 85 minus Age at Entry) |
10 years |
10 years |
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Maximum Policy term |
85 minus Age at Entry |
50 years |
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Premium Payment term |
Limited Premium |
Limited Premium or Equal to Policy term |
Limited Premium or Equal to Policy term |
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In Limited Premium, the Premium Payment Terms available are 5 Pay, 6 Pay, 10 Pay,12 Pay, 15 Pay, 20 Pay and Pay till Age 60 |
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Minimum Sum Assured |
`50,00,000 |
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Maximum Sum Assured |
No limit, subject to Board Approved Underwriting Policy |
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ADB Sum Assured (For Life Shield Plus Variant) |
Minimum: `5,00,000 Maximum: `2,00,00,000 ADB Sum Assured selected at inception will be in a proportion of 10%-100% of base sum assured |
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TI Sum Assured |
Minimum: `50,00,000 Maximum: `2,00,00,000 TI Sum Assured will be as per the base sum assured subject to the above limits |
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Minimum & Maximum Premium |
As per the minimum & maximum Sum Assured |
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Premium Payment Frequency |
Yearly, Half yearly, Quarterly and Monthly Half yearly, Quarterly and Monthly premium frequencies are only allowed under auto-debit process as allowed by RBI to financial institutions. |
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The product is available for sale through online mode.
All the references to age are Age as on last birthday.
In Life Shield ROP variant, for Limited Premium, the minimum difference between Policy term & Premium Payment Term shall be five (5) years.
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Disclaimer
All Charges applicable shall be levied. The brochure should be read in conjunction with the Benefit Illustration. The Policy document is the conclusive evidence of contract and provides in details all the conditions and exclusions related to Bajaj Allianz Life eTouch. Please ask for the same along with the quotation.
“ The Federal Bank Limited is a Corporate Agent having registration number - Regn. No. CA0227. The service provided by The Federal Bank Limited is purely an agency service and is carried out strictly on a non-risk participation basis. The Federal Bank Limited, as corporate agent does not underwrite the risk or act as an insurer. Participation by the Federal Bank’s customers in the insurance product is purely on a voluntary basis and is not linked to the availment of any other facility from the Federal Bank Limited.”