Bajaj Allianz Life Insurance
Bajaj Allianz Life eTouch Online Term Policy

Bajaj Allianz Life eTouch Online Term Plan

Bajaj Allianz Life eTouch Online Term is a non-linked, non-participating, life, individual, regular premium payment, individual, pure risk premium plan. By the option you choose, the plan offers life insurance along with benefits for accidental death, total permanent disability, and critical sickness, as well as the benefit of a premium waiver. The policy comes in 3 variants, namely Life Shield, Life Shield Plus, Life Shield ROP.

It is a full protection plan that defends you and your loved ones against many of life’s uncertainties. It is the ideal way to achieve your family’s goals without making any concessions in the event of an unforeseen circumstance. According to this policy, if the policyholder passes away while the policy is still in effect, the nominees will be given a lump sum payment.

Read on to know more about the Bajaj Allianz Life eTouch Online Term Plan.

Eligibility Criteria

Here is the eligibility criteria for Bajaj Allianz Life eTouch Online Term.


The minimum age is 18 years

The maximum age is 65 years

All the references to age are Age as on last birthday.

Maturity Age

For Cover up to Age 99:

Age at maturity is 99 years

For Cover not up to Age 99:

Minimum age at maturity is 28 years

The maximum age at maturity is 85 years

Policy Term

For Cover up to Age 99:

The minimum/Maximum Policy Term is 99 minus Age at Entry

For Cover not up to Age 99:

The minimum Policy Term is 10 years

Maximum Policy Term is 85minus Age at entry

Premium Payment Term

For Cover up to Age 99:

Limited Premium

For Cover not up to Age 99:

Limited Premium or equal to the Policy term

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

Minimum Sum AssuredRs. 50,00,000
Maximum Sum AssuredNo limit, subject to Board Approved Underwriting Policy
TI Sum Assured

Minimum: Rs. 50,00,000

Maximum: Rs. 2,00,00,000

TI Sum Assured will be as per the base sum assured subject to the above limits 

Minimum & Maximum PremiumAs per the minimum & maximum Sums Assured
Premium Payment Frequency

Yearly, Half yearly, Quarterly, and Monthly

Half-yearly, Quarterly, and Monthly premium frequencies are only allowed under the auto-debit process as allowed by RBI to financial institutions.

Key Features & Benefits of Bajaj Allianz Life eTouch Online Term

Here is the list of the key features and benefits of the Bajaj Allianz Life eTouch Online term.

  1. Option to Change Premium Payment Frequency 

On any policy anniversary during the policy period, the policyholder may modify the current premium payment frequency. There are four ways to pay for the premiums: annually, biannually, quarterly, and monthly.

  1. Tax Benefits

According to Section 80C of the Income Tax Act of 1961, a tax deduction may be claimed on the premiums paid for the term insurance policy. In addition, Section 10(10D) of the Income Tax Act exempts any proceeds from the policy from taxes.

  1. High Sum Assured Rebate (HSAR)

For all policies, the plan provides a premium discount based on the classification of smokers, the total assured slab for each age, variant, and policy period. Every extra Rs. 1 lakh in coverage beyond the base sum assured will be subject to the HSAR.

  1. Death Benefit and ADB payment option

The nominee for the life-assured has the choice of receiving either the Life Benefit, the ADB, or both benefits (Life Benefit and ADB) in any of the three ways described below:

1) A lump sum payment of the full benefit,

2) A lump sum payment of 50% of the benefit and level or rising monthly installments for the remaining 50%

3) Monthly payments of level or rising amounts equalling 100% of the benefit If benefits are to be paid in monthly installments, they will be paid over 120 months in flat or increasing monthly installments.

  1. Free-Look Period

The consumer has the option to return the policy to the insurer, giving proper justification, if the terms and conditions outlined in the policy documents do not satisfy him or her. After receiving the policy documentation, the return must be made within 30 days. The stamp tax and medical examination fees will be deducted from the policyholder’s reimbursement of the regular premiums.

  1. Grace Period

For any premium payment frequencies other than monthly, the policyholder will be given a grace period of 30 days if the premium is not paid by the due date. A monthly frequency policy has a 15-day grace period. The policy will continue to provide the same coverage as when it was first issued if the policyholder pays the current and unpaid payments within the grace period.

  1. Policy Revival

The following situations may arise if the policyholder does not pay the required premiums and the policy becomes lapsed:

  • Within two years following the premium’s due date, a request for revival must be made.
  • All taxes, associated interest, and due premiums have been paid. The revival interest accrues at a 10% annual compound rate paid every six months.
  • The policyholder produces proof of ongoing insurance and consents to a medical examination.

What is Excluded Under Bajaj Allianz Life eTouch Online Term?

Suicide Exclusion:

The policy will be terminated by paying the nominee an amount equal to 80% of the premium paid as of the date of death if the policyholder commits suicide within a year of the start of the risk or the date of the most recent revival of the policy, provided the policy was still in effect as of the death.

Accidental Death Benefit (ADB) will not be paid in the below cases if death occurs:

  • Because of any criminal intent
  • Under the influence of drugs or alcohol
  • Self-inflicted injuries
  • Taking part in any military, naval, or air force
  • Due to suicide
  • Because of any hazardous activity

Illustration Of Bajaj Allianz Life eTouch Online Term Plan

Doctor Ravi, 35, just invested in starting a new clinic and wants to protect his family against any financial concerns that might occur in the event of his premature death. He purchases Bajaj Allianz Life eTouch Term with Life Shield Variant.

Sum AssuredDeath Benefit Payment OptionPolicy Term & Premium Payment Term:Premium Payment FrequencyPremiums Payable
Rs 1 crore100% Lump sum50 years (This covers Ravi till Age 85)AnnualRs 20,743 per annum (excluding GST/any other tax as applicable)

How To Buy Bajaj Allianz Life eTouch Online Term?

Here are the steps to buy Bajaj Allianz Life eTouch Online term.

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 “eTouch”. Click on it.

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

Step 4: Then, you will need to enter your Full Name, Gender, Date of Birth, Mobile Number, and Email, select your Education, Occupation, enter your annual income, and more.

Step 5: After entering all your details, click on “Proceed”.

Step 6: Once you’re done entering all the details, you will then need to make the payment using your Credit/Debit card.

Step 7: Congratulations- You’ve purchased your Bajaj Allianz Life eTouch Online term.

You can also buy this plan by visiting the branch office of the insurance provider. Reach out to the experts at Probus Insurance in case you run into any trouble.

Frequently Asked Questions

No, term insurance policies lack cash value and cannot be used as collateral for loans.

If a policyholder does not pay the required premium by the grace period’s conclusion, the policy will expire and no benefits under the contract will be paid.

The online term plan from Bajaj Allianz Life does not accrue a surrender value.

An individual’s premium will be calculated based on their present age, gender, sum assured, variant, policy term, and frequency of premium payments.