Bajaj Allianz Life Term Insurance vs Tata AIA Life Term Insurance

A term insurance plan ensures your family is financially secured in your absence. It gives them much-needed monetary support, which they need in uncertain times, for instance, in case of your untimely demise. Be that as it may, with the accessibility of numerous term plans on the lookout, you need to cautiously go through each of them and pick the right one. Hence, you can go through the elements and advantages of the term plans presented by Bajaj Allianz Life Insurance and Tata AIA Life Insurance to settle on the right purchasing choice.

Term Insurance Plans by Bajaj Allianz Life Insurance vs Tata AIA Life Insurance Overview

Term Insurance policies – Bajaj Allianz Life Insurance vs Tata AIA Life Insurance

Headquartered in Pune, Bajaj Allianz Life Insurance is a joint venture between Bajaj Finserv Limited and Allianz SE. The leading insurer started its operations in August 2001 and has marked its footprints across all parts of the country, serving millions of customers. The company provides a wide range of insurance products focussing on the financial planning and security of the customers.

Tata AIA Life Insurance Company Limited is viewed as one of the country’s leading insurance providers, offering a range of life insurance products, including term insurance plans, money-back plans, child plans, and retirement plans. The company commenced its operation in the year 2001 and is a joint endeavor between Tata Sons Pvt. Ltd. And Tata AIA Life.

To choose the ideal term insurance plan, you can compare Bajaj Allianz Life Insurance and Tata AIA Life Insurance term insurance plan on different parameters and opt for the right one.

Term Insurance Plans by Bajaj Allianz Life Insurance vs Tata AIA Life Insurance

Bajaj Allianz Life Term Plans

• Bajaj Allianz Life Insurance offers 3 term plans – Bajaj Allianz Life Smart Protect Goal Term Plan, Bajaj Allianz Life eTouch Online Term Plan, and Bajaj Allianz iSecure Term Plan, carefully designed to cater varied needs of the customers.
• The term plans come with a maturity benefit option by returning the premiums paid on policy maturity and additional financial assistance for critical illnesses and accidental total permanent disability.
• The policyholder can opt from different death benefit payouts along with varied premium payment frequencies.

Why choose Bajaj Allianz Life Term Plans?

• Bajaj Allianz Life Insurance provides comprehensive term plans at affordable premium rates. 
• The insurer gives the flexibility to add multiple benefit options such as different rider benefits, different premium payment options, and payout options.
• Bajaj Allianz term plans are eligible for tax exemptions under Section 80C and Section 10(10D) of the Income Tax Act.

Tata AIA Term Insurance Plans

• Tata AIA term protection plans offer 6 diverse term insurance plans – Sampoorna Raksha, Sampoorna Raksha+, iRaksha Trop, Sampoorna Suraksha Supreme, MahaRaksha Supreme, and Saral Jeevan Bima, catering to different necessities of the clients.
• The term plans are upheld with different provisions, advantages, and coverage options such as increasing life cover, whole life cover, and return on premium options on maturity.
• Tata AIA term insurance plans also come with rider benefit options at a nominal cost, expanding the scope of the base cover.
• The term plans are qualified for tax cuts according to the current standards of the Income Tax Act.

Why choose the Tata AIA Term insurance plan?

• Tata is a renowned and trusted brand name to rely on for quality products and services.
• The company boasts a high claim settlement ratio of 99.06%, ensuring easy and faster claim settlement.
• The term plans under Tata AIA Life provide life coverage up to 100 years.
• Tata AIA term insurance plans can be customized as per their choice and requirements.
• The insurer offers term plans at low premium rates for female buyers.