Bajaj Life Term Insurance Review 2025

Bajaj Life Insurance (formerly Bajaj Allianz) offers reliable term insurance plans with competitive pricing, strong claim settlement ratios (99.21%), and flexible coverage options. With plans like eTouch II and iSecure II, Bajaj Life offers affordable protection for young professionals, women, and families, along with valuable riders for added coverage. While it ranks well in terms of performance, some competitors may offer slightly better performance metrics, plans, and riders.

Introduction

Bajaj Life has recently made headlines after it was rebranded to Bajaj Life Insurance from Bajaj Allianz, following Bajaj Finserv’s acquisition of a 100% stake. If you’re an existing policyholder, don’t worry. Your policy benefits, coverage, and terms remain unchanged. However, this rebranding marks a significant move for the company’s future direction, especially in how it positions itself in the term insurance market.

In this review, we break down Bajaj Life’s performance metrics, key plans, pricing, and riders, so you can decide whether it’s the right term insurance provider for you.

Compare Bajaj Life term plans with Ditto’s expert advisors and find the best coverage that fits your needs and budget. Book a call now!

Claim Settlement Ratio of Bajaj Life Insurance

With a CSR of 99.21%, Bajaj Life demonstrates solid claim-handling performance while indicating that most claims are honored promptly. However, a few competitors such as Axis Max Life (99.62%) and HDFC Life (99.55%), do edge ahead. 

Amount Settlement Ratio of Bajaj Life Insurance

Bajaj Life’s ASR of 93.5% indicates balanced and transparent claim settlements. Still, a few peers such as ICICI Prudential (95.1%) and Axis Max Life (96.2%) perform slightly better.

Complaint Volume of Bajaj Life Insurance

Bajaj Life’s complaint volume of 3.95 per 10,000 claims is commendable. It’s a clear reflection of their strong service quality and customer satisfaction. However, there are still a few insurers who perform slightly better in comparison. For example: HDFC Life (1.33 complaints) and Tata AIA (3 complaints).

Bajaj Life Term Insurance Plans

1) eTouch II
A comprehensive, modern term plan offering both flexibility and affordability.

Key Features: 

• Entry age: 18-65 years; coverage up to age 99 (Whole Life option)
• In-built benefits: Zero Cost Option, Terminal Illness Cover, Cover Continuation Benefit, Waiver of Premium on Accidental Total & Permanent Disability or Terminal Illness, Instant Claim Payout & Health Management Services
• You can also add optional riders for additional protection.

Ideal For: 
Those seeking long-term security with flexibility and in-built health protection.

2) iSecure II
A flexible term plan offering pure protection with the option to get your premiums back.

Key Features:

• Entry Age: 18-65 years; coverage up to age 85
• Three Variants: Life (pure protection), Return of Premium (get back total premiums paid at maturity), and Easy (affordable short-term cover for first-time buyers, not live yet)
• Choice of death benefit payout: lump sum or income (5-40 years)
• Early Exit Value: exit after age 60 and get 100% premiums back (Life variant)
• Has In-built riders: Waiver of Premium on Accidental Total or Permanent Disability/Terminal Illness.
• Auto Cover Continuance: defer the premium for 12 months without losing cover

Ideal For: 
Individuals seeking long-term, flexible life cover with options for savings return, payout customisation, and added wellness protection.

3) Superwoman plan
A thoughtfully designed term plan created exclusively for women

Key Features: 

• Entry Age: 18-60 years (50 years for housewives)
• Mandatory Critical Illness Rider covering 60 illnesses
• Optional Child Care Benefit for improved family protection
• Same premium structure as eTouch II for equivalent coverage
• Eligibility extended to salaried, self-employed, and housewives (subject to underwriting)

Ideal For:
Women seeking comprehensive and affordable term coverage with in-built health protection and family-focused benefits.

Riders Available with Bajaj Life Term Insurance

Bajaj Life’s rider portfolio is decent and thoughtfully designed, adding valuable layers of protection. It lacks riders like a waiver of premium on critical illness or payout on accidental disability.

Bajaj Life Term Insurance Riders Ditto Recommends

01

Critical Illness Rider

Covers 10/25/60 major illnesses, ensuring financial stability during medical emergencies. Available for up to 20 years.

02

Family Protect Rider (Parental and child care)

Extends cover for parents and children. Ideal for family-centric buyers.

03

Accidental Death Benefit (ADB)

Offers additional payout in case of death due to an accident.

Pricing: How Bajaj Life Compares to Other Term Insurers

For a premium comparison, let us compare Bajaj Life’s flagship plan, e-Touch II, with those from Axis Max Life, HDFC Life, and ICICI Prudential. 

Let us consider profiles of non-smokers living in Tier 1 cities, such as Delhi, who are covered until the age of 65 for a sum assured of ₹1 crore. 

Ditto’s Take: Bajaj Life offers competitive pricing, especially for younger, non-smoking, and female policyholders. It stands toe-to-toe with Axis and ICICI, and often outperforms HDFC Life in terms of affordability.

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Conclusion 

Bajaj Life (formerly Bajaj Allianz) continues to deliver solid performance metrics, competitive pricing, and thoughtfully designed term insurance products. While a few peers, such as Axis and HDFC, may slightly outperform it in settlement ratios, Bajaj Life remains a reliable and cost-effective choice for most policyholders.

Frequently Asked Questions