Bajaj Allianz Life Insurance
Bajaj Allianz Life Diabetic Term Policy Sub 8 HbA1c

Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c

Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c is a protection plan that offers term insurance coverage to Type 2 diabetics and pre-diabetics by factoring in the nuances of their health conditions. The product gives diabetics the ability to guarantee that, in the event of the Life Assured, their family will have the financial means to carry on with their lives.

Premiums may be paid monthly or yearly, and the insurance term runs from five to twenty-five years. According to a news release from Bajaj Allianz Life, many diabetics find it difficult to gain full life insurance, which makes it difficult for them to fulfill the needs of their families.

Continue reading to know more about the Bajaj Allianz Life Diabetic Term Plan Sub 8HbA1c.

Eligibility Criteria

Here is the eligibility criteria for Bajaj Allianz Life Diabetic Term Plan Sub 8HbA1c.

Age at EntryMinimum: 30 years, Maximum: 60 years
Age at MaturityMinimum: 35 years, Maximum: 75 years
Policy TermMinimum: 5 years, Maximum: 25 years
Premium Payment termRegular Premium (Premium Payment Term is equal to Policy Term)
Sum Assured

Minimum: Rs.25,00,000

Maximum: No Limit, subject to prevailing Board Approved Underwriting Policy

Premium Payment FrequencyYearly, Half-yearly, Quarterly, and Monthly (Half-yearly, Quarterly, and Monthly premium frequency are only allowed under auto-debit process as allowed by RBI to financial institutions.)
PremiumAs per the minimum & maximum Sum Assured

Features and Benefits of the Bajaj Allianz Life Diabetic Term Plan

Here are the potential features and benefits of the Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c

  1. Death Benefit

One of the biggest benefits of considering the Bajaj Allianz Life Diabetic Term Plan Sub 8HbA1c plan is the “Death Benefit”. Your legal heir or nominee would get the sum assured on death selected at the policy’s beginning if the life assured passes away during the policy tenure, provided the plan is operational. Upon the death of the life assured, the plan will expire.

SA on death is explained as the highest of: a) Sum assured b) 10X of annualized premium c) 105% of the total amount of premium paid till the death date

  1. Maturity Benefit

Another major reason to consider the Bajaj Allianz Life Diabetic Term Plan Sub 8HbA1c is nothing but the maturity benefit. Since it is a pure-term plan, no benefit will be given even if you live to see the maturity date. On the date of maturity, the plan will expire.

  1. “Keep fit” Benefit

This benefit motivates you to take action to raise the standard of your health. This benefit assists in obtaining a 10% discount on your premium installment on the plan anniversary by enhancing the diabetes parameters from the most recent revival date or policy inception (whichever is later).

  1. Free Look Period

Reviewing the terms and conditions of the plan is permitted during the free look period, which lasts for 15 days after the receipt date of the policy documents and for 30 days in the event of policies obtained via distance or electronic means. If you want to return the cancellation plan and specify your objections, you will get a refund of your regular premiums (less any applicable taxes) if you do not agree with these T&Cs.

  1. Grace Period

If you don’t pay your premiums by the deadline, you will get a grace period of 15 days for monthly payments and 30 days for yearly, half-yearly, and quarterly payments to make up the difference. During the grace period, the life assured will be protected for the death benefit. The unpaid premium amounts will be subtracted from the benefits received in the event of death during the grace period.

Exclusions Under The Bajaj Allianz Life Diabetic Term Plan

The nominee or beneficiary of the policyholder is entitled to receive 80% of the total premiums paid as a death benefit under the policy, provided the policy is in force, if the life assured dies by suicide within 12 months of the date of commencement of risk or the date of the most recent revival of the policy, whichever is later.

Illustration Of Bajaj Allianz Life Diabetic Term Plan

Mr. Bajaj, aged 35 years, was looking for a plan that can offer maximum protection against diabetics. After going through many plans on the internet, Mr. Bajaj finally stumbled upon the Bajaj Allianz Life Diabetic Term plan and found it a great deal of investment to save his money and generate long-term wealth.

Let’s take an example to understand the amount he will receive after the policy matures along with ascending age and a sum assured of Rs. 50 Lakhs.


Policy Term

10 Years

Policy Term

15 years

Policy Term

20 years

35Rs. 10,729Rs. 11,753Rs. 13,533
40Rs. 14, 346Rs. 16, 656Rs. 19, 539
45Rs. 21, 506Rs. 25, 191Rs. 28, 981

How To Buy Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c?

Here are the steps to buying Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c.

Step 1: Simply visit the official website of Bajaj Allianz life insurance.

Step 2: After that, you will see the “Plans” section at the top. Hover over it. Under term insurance plans, you will see “Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c”. Click on it.

Step 3: When you see the plan page, you will see the “Buy Now” option in the blue-colored banner. Click on it.

Step 4: Then, you will need to enter your Full Name, Gender, Date of Birth, Mobile Number, and Email, and check on whether you are a smoker or not.

Step 5: When you click on “Next”, you will then need to enter your education qualification, occupation, annual income, and Pincode, and check on whether you are an existing Bajaj employee.

Ensure you enter all the correct details. Then, click on “Next”.

Step 6: Then, you will need to answer a list of the following questions:

  • What is the class of Diabetes?
  • For how many years do you have diabetes?
  • What was your last recorded HbA1c level?
  • When was it last reported?
  • What are your Height and Weight?

Then, you will need to click a few checkboxes as per your answer (Yes or No). After that, click on “Next”

Step 7: In the seventh step, you will need to select your life cover, policy term, and premium frequency. Click on “Proceed”. Once you’re done entering all the details, you will then need to make the payment using your Credit/Debit card.

Step 8: Congratulations- You’ve purchased your Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c.

Offline Process:

In addition to buying the plan via the online method, you can still buy the Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c via the offline method.

To get further help, all you have to do is stop by any Bajaj Allianz Insurance branch office in your area and speak with the customer service team that is already there. Before assisting the customer in acquiring the package, the sales professional who is selling the plan will ask a few questions concerning specifics.

Alternatively, the customer can call the company’s helpline number 1800 209 7272, from 9:00 AM to 6:00 PM (Monday to Saturday). The executive will instruct the client on how to order the plan from the business.

Despite all of these alternatives, Probus Insurance is always on hand to assist if a customer still encounters difficulties when purchasing the plan. The team members of the organization will do all it takes to address the issues of their customers.

Frequently Asked Questions

If your policy expires due to non-payment of premiums, you can reinstate it under specific circumstances. Within five years of the first unpaid premiums’ due date, a written notification of revival must be submitted.

Depending on the provisions of the current Income Tax Act as it has been revised from time to time and the premiums paid, the death benefit may qualify for tax benefits. For eligibility and before claiming any benefit under the policy, you are urged to speak with your tax advisor and receive impartial counsel.

Your plan will lapse at the end of the grace period if you have not paid the required amount of premium by that time, and no further benefits will be paid under this plan.