Bajaj Superwoman Term Plan

Bajaj Superwoman Term Plan is a specialized protection plan designed to address the evolving financial and health risks faced by women across life stages. The plan combines life cover with mandatory critical illness protection and optional child-focused income security, making it a bundled protection solution rather than a modular term plan.

Built on Bajaj Life’s flagship eTouch II platform, it offers features like terminal illness payout, waiver of premium on disability, instant claim advance, and health management services such as teleconsultations, preventive check-ups, and mental wellness support. While it is slightly more structured compared to standard term plans, it works well for women looking for an all-in-one protection solution with limited decision complexity.

In this review, we’ll break down the plan’s eligibility conditions, features, riders, exclusions, premium comparison, and insurer performance metrics to help you decide whether this plan suits your needs.

Key Features of Bajaj Superwoman Term Plan

1) Terminal Illness Benefit (100% Payout up to ₹2 Crore)

If two doctors confirm a terminal illness with a life expectancy of under six months, the insurer pays the full sum assured (up to ₹2 crore) immediately, helping manage treatment and family expenses.

2) Life Stage Benefit (Cover Increase at Marriage, Childbirth, Loans)

Your life cover can be increased at key milestones like marriage, the birth of a child, or taking a home/education loan—without buying a new policy, subject to eligibility and limits.

3) Waiver of Premium on Terminal Illness / Accidental TPD

If the policyholder is diagnosed with a terminal illness or suffers accidental total and permanent disability, all future premiums are waived while the policy continues unchanged.

4) Auto Cover Continuance (Premium Deferment up to 12 Months)

After completing three policy years, you can defer premiums for up to 12 months during financial stress, with full policy benefits continuing and no interest charged.

5) Instant Payout of ₹2 Lakh on Claim Intimation

On registering a death claim, ₹2 lakh is paid within three working days (after document submission) to help the family manage immediate expenses, with the balance paid after claim approval.

6) Zero Cost Benefit (Early Exit After Age 60)

If you meet specific age and policy-term conditions, you can exit the policy after turning 60 and receive back the base premiums paid (excluding taxes and rider premiums).

7) Health Management Services for Women

From day one, the plan offers complimentary health services such as teleconsultations, in-clinic OPD visits, mental wellness support, pregnancy-related OPD benefits, and preventive health check-ups.

Riders Available with Bajaj Superwoman Term Plan

1) Comprehensive Critical Illness Rider (Mandatory)

This rider covers a wide range of major illnesses (60) such as cancer, heart conditions, organ failure, and women-specific health issues, offering broader protection beyond life cover. On diagnosis of any covered illness, a lump sum amount is paid immediately, irrespective of actual medical expenses, giving financial flexibility during treatment and recovery. Claims under this rider are payable only if the critical illness is diagnosed after 90 days from the policy or rider start date.

1. Survival Period: The insured must survive for at least 14 days from the date of diagnosis for the critical illness benefit to be payable.
2. Coverage Duration: The critical illness cover remains active for up to 20 years from policy inception, even if the base policy continues longer.

2) Child Care Rider (Optional)

1. Triggers on death or accidental total permanent disability of the mother: If the insured mother passes away or suffers accidental total and permanent disability, the rider benefits are paid directly to the child.
2. Lump sum of 105% of premiums paid: A lump sum equal to 105% of all premiums paid under the rider is paid to help meet immediate financial needs.
3. Monthly income (0.1%–0.5% of rider cover) till the child turns 25: In addition to the lump sum, a fixed monthly income is paid to support the child’s education and living expenses until age 25.
4. Up to 3 children can be covered: The rider allows coverage for a maximum of three children under a single policy.
5. Rider term up to 25 years: The rider term can be selected up to 25 years, aligned with the child’s age and future needs.

3) Premium Holiday Rider

1. Allows skipping premiums for 1–3 years during financial stress: This rider lets you temporarily stop paying premiums during income disruptions without losing policy coverage.
2. First break allowed after 5 policy years: The premium holiday can be availed only after completing the first five policy years.
3. If not used, last premiums are waived automatically: If the premium holiday option is selected but never used, the final 1–3 premiums (as chosen) are automatically waived at the end of the policy term.

Benefits of Bajaj Superwoman Term Plan

01

Financial Protection

The plan provides financial protection along with a mandatory critical illness cover, ensuring policyholders receive support not just in case of death but also during major health emergencies.

02

Beneficial for Women

It allows women to increase their life cover at key life stages such as marriage, childbirth, or taking loans, helping coverage stay aligned with evolving financial responsibilities.

03

Budget Friendly

The policy waives future premiums in case of terminal illness or accidental total permanent disability, allowing coverage to continue without additional financial burden.

04

Additional Benefits for Children

The optional Child Care Rider ensures children receive both a lump sum payout and regular income support if something happens to the insured mother, helping secure their future needs.

05

Other Services

Built-in health management services provide access to teleconsultations, OPD support, mental wellness care, and preventive health check-ups, offering value beyond traditional life insurance coverage.

What are the Exclusions in the Bajaj Superwoman Term Plan?

Like most term insurance policies, the Bajaj Life Superwoman Term Plan includes standard exclusions, such as suicide during the initial 12-month period, and certain claim-related limitations as defined in the policy wording. These exclusions are in line with industry norms and regulatory guidelines.

To understand these in detail, read this guide on the types of deaths not covered under a term insurance plan.

Bajaj Superwoman Term Plan Premium Comparison

Disclaimer: These recommendations are based on Ditto’s six-point product evaluation framework (product quality, claims experience, underwriting transparency, flexibility, affordability, and operational reliability) and our three-point insurer assessment (financial strength, claims track record, and service reliability). These criteria help ensure that the plans recommended here strike the right balance between protection, claims confidence, and long-term service quality.

Premiums are calculated for a person seeking a ₹2 crore sum assured, with coverage up to age 70, for a non-smoking female, with no added riders or 1st year discounts.

Insight: Bajaj Superwoman Term is priced very competitively at younger ages, coming in as one of the lowest premiums at age 25 and remaining among the cheaper options at age 30. As age increases, premiums move closer to the market average, and by 40, SWT is slightly higher than some base plans. Note that the Superwoman Term plan has a built-in critical illness cover, which drives the premiums higher.

Insight: Bajaj Life shows strong claim reliability, with a higher-than-average claim settlement ratio and one of the lowest complaint volumes in the industry. Its solvency ratio is more than double the industry average, reflecting a very strong financial buffer. The only relative lag is speed, as its 30-day claim settlement rate is slightly below the industry average.

Why Choose Ditto for Term Insurance?

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Final Thoughts

The Bajaj Superwoman Term Plan is a niche, women-focused protection plan that works best for women who want life cover + critical illness protection bundled together without needing to choose multiple add-ons. It is particularly relevant for women with unearned income, housewives, or those who want structured child-focused financial protection through the Child Care Rider.

However, since the critical illness rider is mandatory and payout flexibility is limited (lump sum only), it may not suit buyers who want maximum customisation or the lowest possible base premium. For broader flexibility in rider selection and structure, Bajaj eTouch II may be a more versatile alternative.