Pune, December 14th, 2016: Bajaj Allianz Life Insurance, one of India’s leading private life-insurers, has launched its first exclusive online term plan, eTouch. It offers customers, the flexibility to choose from four variants, 1) Shield – Life Benefit plus WOP Benefit (on occurrence of ATPD), 2) Shield Plus – Life Benefit plus ATPD Benefit plus WOP Benefit (on occurrence of ATPD), 3) Shield Super – Life Benefit plus ADB plus ATPD Benefit plus WOP Benefit (on occurrence of ATPD) and 4) Shield Supreme- Life Benefit plus ACI Benefit plus ATPD Benefit plus WOP Benefit (on occurrence of ATPD or CI) and a policy term up-to 40 years or attaining age of 75 years. Significantly, e-Touch Online Term is the only plan which offers an in-built waiver of premium rider applicable in case of accidental total permanent disability or on critical illnesses, in the Shield Supreme variant. In essence, it is not necessary for a customer to separately buy an additional waiver of premium rider.
Additionally, what sets e-Touch Online Term plan apart from the competition is the intertwining of both health and term insurance in this product. With e-Touch Online Term plan, a customer gets the advantage of having a term plan coupled with additional benefit on accidental death, accidental total permanent disability & 34 critical illnesses till the age of 75.
It also offers a lower premium for leading a healthy lifestyle for non-tobacco users. So for a male, non-smoker, aged 30 years, who buys a 1 Crore Term Plan, the Shield Variant which offers Life Benefit plus WOP Benefit (on occurrence of Accidental Total or Partial Disability), the premium for a 30 year term works out to just Rs.6,976/- (The premium mentioned is excluding Service Tax) or Rs.19/- per day.
In line with its vision to promote health and wellness, the company also announced the launch of B-Fit, a wellness platform mobile application which would help users to set and track their fitness goals. Besides having incentives aimed at helping customers adopt a healthy lifestyle they will also be rewarded with shopping credits in the form of Vantage Circle points. The app is equipped with features like a food guide for Indian cuisine, a health profile score tracker which continually gives expert recommendations basis one’s health data score and personalized health articles curated to the user’s interest. Providing a multitude of other exciting services, B-Fit is an assured and reliable app to help a customer achieve his fitness goals.
Commenting on the product, Mr. Vineet Patni, President and Chief Institutional Business Officer, Bajaj Allianz Life Insurance said, “We are pleased to be the first Life Insurance Company to come out with a plan which offers Waiver of Premium on Accidental Permanent Total Disability Cover and Critical Illness Cover in the Shield Supreme Product Variant. In today’s uncertain times, people are looking for a worry-free protection solution which not only gives them a plain vanilla life cover but also against disability or dreaded diseases. E-Touch Online Term is a unique 3-in-1 plan which gives the comfort of a complete protection solution aimed at providing coverage against all 3 D’s – Death, Disability & Disease at a competitive price point with the flexibility to choose from a 40 year long term and a simple 3 step buy process. This product will help in fortifying our overall product offerings and we are confident that our customers will be able to chart their financial planning in a worry free manner.”
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