Term insurance is making its place in India with its own right. The beauty of the pure insurance product has charmed the savvy Indian investors and steadily catching up with all.
What is a term insurance ?
Term insurance is the purest form of life insurance with no strings of savings or investment attached to it. It is known for providing a lump sum benefit incase of unfortunate death of policyholder. It is an ultimate protection plan for the claimant.
Who should buy term insurance policy?
Term insurance is one of the most important financial instrument for every earning individual who has dependants to look after. The tenure can vary from 10 to 40 years. However, generally the cover is extended till upto 70 years of age.
Affordable premium for high coverage
The benefit which make it most attractive to the younger generation is it’s low-cost pricing. The pricing is extremely affordable compared to the other forms of life insurance with a high monetary coverage for the policyholder ensuring unforeseen situation doesn’t cause financial distress. It’s best to buy the insurance policy early to lock-in a low premium for the entire term. With every passing year, the premium cost increases, entering early has it’s own advantage. So, with increased age of the policy holder, premium increases significantly. Two other important factor which affects the premium are the lifestyle of the policyholder (smoking/drinking habits) and nature of profession, individual with life risk exposure in the job, will fetch higher premium.
What do we expect from a friend? To be flexible, helping and being around through ups and downs and sail through the #IfsOfLife. This product aims to be just that. This product aims to protect you and your family like that best friend, who will help you in sail through all tough times.
What is so special about the new product by Bajaj Allianz Life Insurance company?
Looking at the growing interest on term insurance plans, Bajaj Allianz has designed an inclusive product which will not only provide death benefit but also extend a caring hand incase of critical illness or permanent disabilities.
Isn’t it great if an insurance product is committed to you for life, like your best friend, staying around and helping during the toughest phase of your life. Many a times it is not untimely death, but a critical illness or permanent disability caused by an accident which leaves the family morally and financially down and distressed. This product will be an answer to these unforeseen circumstance. And all these can be done with few clicks! Starting from choosing the right protection amount and tenure, term, and additional benefits which is a flexible choice. It also will encourage the buyers to do a thorough check on inclusions and exclusions.
Bajaj Allianz, a joint venture between Allianz SE, the world’s leading insurer, and Bajaj Finserv Limited an established name in the life and non-life insurance segment. It has done an extensive research to develop the insurance plan keeping in mind the changing lifestyle of the progressive Indians. The gen Y is now aware and accept the concept of pure insurance and increasingly opting for term plans which offers adequate cover at rational pricing.
I am eagerly waiting for the launch of the new life insurance product by Bajaj Allianz @BajajAllianzLIC, on 23rd of December 2016 in Mumbai. #IfsOfLife