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Term life insurance or term assurance is life insurance that provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires, coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or potentially obtain further coverage with different payments or conditions. If the life insured dies during the term, the death benefit will be paid to the beneficiary. Term insurance is typically the least expensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis over a specific period of time.

A Unit Linked Insurance Plan (ULIP) is a product offered by insurance companies that, unlike a pure insurance policy, gives investors both insurance and investment under a single integrated plan.

Child life insurance is a form of permanent life insurance that insures the life of a minor. It is usually purchased to protect a family against the sudden and unexpected costs of a child’s funeral or burial and to secure inexpensive and guaranteed insurance for the lifetime of the child. It offers guaranteed growth of cash value, which some carriers allow to be withdrawn (collapsing the policy) when the child is in their early twenties. Child life insurance policies typically offer the owner the option to purchase, or in some cases obtain additional guaranteed insurance when the child reaches maturity.

The money-back policy from Life Insurance Corporation in India is a popular insurance policy. It provides life coverage during the term of the policy and the maturity benefits are paid in installments by way of survival benefits in every 5 years. The plan is available with 20 years and 25 years term. In the event of death within the policy term, the death claim is made up of full sum assured without deducting any of the survival benefit amounts already paid. The bonus is also calculated on the full sum assured. The premium paid is tax deductible under section 80C of Income Tax Act 1961.

1. Who can take the Policy?

The Policy can be taken by a Senior Citizen who is above 60 years of age for covering himself/ herself and his/her spouse.

2. Eligibility

The following conditions shall apply for seeking coverage under the Policy

   • You must be above 60 years of age on last birthday for taking a policy.

   • Must be a permanent resident of India

   • Maximum entry age under the Policy for you and your spouse is restricted to 70 years. The renewals under the Policy shall, however, be provided for lifetime.

3. What is covered under the Policy?

The Policy comprises of below two sections

» Section – A- Hospitalisation

    • Day Care Procedures/ Surgeries

    • Inpatient Treatment

    • Pre- Hospitalisation

    • Post-Hospitalisation

    • Domiciliary Hospitalisation

    • Cost of Health Check-up

    • Daily Allowance

    • Ambulance Charges

    • Expenses of accompanying person

»Section B- Critical Illness (Optional)

Medical Examination

We may ask you or your spouse (if proposed for insurance under the Policy) to undergo below mentioned medical tests for purpose of consideration of your proposal

   • Covers hospitalization expenses for complications of Diabetes, both type 1 and type 2 and other than complications of diabetes

   • Policy can be taken on Individual and Floater basis.

   • Two Plans are available – Plan A and Plan B.

Plan A – Pre-acceptance medical screening is compulsory.

Plan B – There is no pre-acceptance medical screening.

   • Waiting Periods:

Plan A – No Waiting Period

Plan B – 15 months waiting period

   • Out Patient expenses – for Medical consultations, Diagnostic tests, medicine and drugs

   • Compensation for Accidental Death of the chosen insured person

   • Donor expenses for kidney transplant surgery

   • Dialysis expenses @ Rs.1000/- per sitting up to 24 months

   • Cost of artificial limbs due to amputation up to specified limits.

   • Automatic restoration of entire Sum insured

   • More than 400 day care procedures covered.

This policy is for persons who have undergone for the first time the named surgery / intervention / correction for the existing Cardiac diseases.

This policy has options – Gold Plan
   • Gold Plan pays for expenses incurred as an inpatient for treatment in respect of all cardiac related complications that necessitate medical management, surgery/intervention. Under this Plan regular hospitalization is covered under Section 1 and all Cardiac related ailments are covered under Section 2. Out Patient Benefit is available
Personal Accident: Accidental Death Cover No Pre acceptance medical screening. 405 day-care procedures covered.

Critical illness insurance, otherwise known as critical illness cover or a dread disease policy, is an insurance product in which the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the specific illnesses on a predetermined list as part of an insurance policy.

What is covered under the Policy?

If you or any person insured by you suffer any of the listed Critical Illness or undergoes a listed Surgical Procedure during the policy period and while the policy is in force, we will pay the Sum Assured specified as opted by you provided that:

   1. Such Critical Illness first occurs or manifests itself during the policy period

   2. The signs or symptoms of such Critical illness commence after 90 days from the date of commencement of the Policy

   3. You/the Insured Person survives for a minimum period of at least 30 days from the date of diagnosis of such Critical Illness for the claim to be admissible

Critical Illnesses and Surgical Procedure

• The coverage shall be up to the Sum Insured as selected by you under the Policy.
• Cancer of specified severity
• First Heart Attack of specified severity
• Open Chest CABG
• Open Heart Replacement
• Coma of Specified Severity
• Kidney Failure requiring regular dialysis
• Stroke resulting in permanent symptoms
• Major Organ /Bone Marrow Transplant
• Motor Neurone Disease with Permanent Symptoms
• Permanent Paralysis of Limbs
• Multiple Scelerosis with persisting symptoms

Motor insurance is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could also arise there from. The specific terms of vehicle insurance vary with legal regulations in each region.

» Private Car insurance

Your car insurance policy is the most important document in your vehicle because it protects you against financial loss and legal issues. Millions of car owners across India trust us to insure their car since we provide package policies that would protect them against physical damage, bodily injury / death and cover against third-party liability, bringing them security and peace of mind.

» Two Wheeler Insurance Policy

Your two wheeler gives you a sense of freedom and our Bajaj Allianz two wheeler insurance policy has been designed to keep you secure. Our two wheeler package policy, now with options to cover your vehicle for up to 3 years, offers you additional key benefits, providing complete protection for your bike or scooter against physical damage, theft and third party liability.

» Liability Only - (Third Party Insurance)

We cover your legal liability towards third parties for personal injury, death and property damage from any accident involving your vehicles. Bajaj Allianz offers "Liability only" Policies for commercial vehicles across the various classes of vehicles like goods carrying vehicles - private and public carrier, passenger carrying vehicles, miscellaneous and special types of vehicles.