Overview of eTouch
Bajaj Life eTouch was a non-linked, non-participating term insurance plan designed to offer flexible protection with optional maturity benefits. The plan provided three variants: Life Shield, Life Shield Plus, and Life Shield ROP, allowing policyholders to choose between pure protection, protection with accidental cover, or protection with return of premium. It also included features like life-stage upgrades that allow policyholders to increase their cover during major life events, premium holidays that allowed one to skip premiums for selected years, and flexible payout options for death benefits.
Experts' Review of eTouch
Written by Monish Vora
Chief Editor
Bajaj eTouch was designed for people who want flexibility in how their life cover evolves over time. The Life Shield option offered basic protection along with terminal illness cover and waiver of premium benefits. Life Shield Plus added accidental death cover on top of the base protection, increasing the payout if death occurs due to an accident.
The Life Shield ROP variant was aimed at buyers who prefer getting their premiums back if they survive the policy term. The plan also allowed life cover increases during major milestones such as marriage, childbirth, or taking a home loan through its life-stage upgrade feature.
Additional flexibility came from options like premium holidays, where policyholders were able to pause premium payments for selected years while the policy continues. Death benefits could also be taken as a lump sum or partly as monthly installments for steady income support to the nominee.
Pros
While not groundbreaking, the features provided meet the basic requirements.
Bajaj Life has a solid track record with a good CSR, minimal complaints, and high solvency ratio.
Provides an exit option with full premium refund and allows life stage benefit .
Cons
The plan lacks critical illness benefit and does not provide any payout in case of disability.
Bajaj Life
Key Insights
Founded
2001
Bajaj Life was established 25 years ago and has built strong credibility over time, backed by its long-standing presence in the market.
Claims Experience
99.21% CSR, calculated as a 3-year average
Bajaj Life settles 99.21% of all claims it receives demonstrating strong credibility.
Complaints
3.95 complaints per 10,000 claims registered
Bajaj Life maintains a low volume of complaints, reflecting strong customer satisfaction and effective service.
Amount Settled
93.42% of total claim amount settled
Bajaj Life shows a reasonable claim payout record, with around 93.42% of the total claim amount settled, indicating moderate settlement efficiency.
The aforementioned ratios have been averaged over three years (FY23-FY25)
Features of eTouch
Premium Holiday
Standout
You have the option to skip paying premiums for the years chosen during the policy term.
Zero Cost Option
Some insurers will return all your premiums if you forego your policy before maturity, during a period specified by the insurer. Meaning you get all your premiums back, while also being protected under the term plan during this time. And eTouch extends this option.
Waiver of Premium
Some policies waive all future premium payments if you are ever disabled (due to accident) or diagnosed with a critical illness. eTouch doesn't extend the waiver-of-premium option if you are diagnosed with a critical illness, but you have the option to waive off all premiums if you are permanently disabled (due to accident).
Special Exit Value
Some insurance companies will return all your premiums if you surrender your policy before maturity, but this can only be possible if you have a policy tenure above a certain number of years and maintain consistent renewals for a minimum period specified by the insurer. This means you get all your premiums back, while being protected under the term plan during this time. eTouch extends this option.
Terminal Illness
Certain policies will disburse the entire cover amount the moment you are diagnosed with a terminal illness. So you can still get the money when alive and use it any way you wish. eTouch gives you the option to receive the entire or a percentage of sum assured upon diagnosis of a terminal illness.
Add-ons of eTouch
Premium Holiday
You have the option to skip paying premiums for the years chosen during the policy term.
Accidental Death Benefit
In case of death due to an accident, a lump sum payout is given on top of the base cover.
Exclusions in eTouch
Conditions or treatments that the policy clearly says it will not cover.
Death by suicide within the first policy year is not covered.
Deaths arising from participation in criminal or unlawful activities are excluded.
If the nominee is found responsible for the insured’s death, the claim will not be payable.
If a death claim is proven to be fraudulent, the insurer will not pay out the benefit.
Disclaimer: For illustration purposes only - exact terms are in the policy wording.
Variants of eTouch
Life Shield
Under this option, the life assured is provided with a death benefit coverage throughout the policy term, which may be paid out earlier upon the diagnosis of a terminal illness. If the Life Assured is diagnosed with Accidental Total Permanent Disability (ATPD) or Terminal Illness, any future premiums under the policy will be paid off.
Life Shield Plus
Under this option, the life assured is provided with a death benefit coverage throughout the policy term, which may be paid out earlier upon the diagnosis of a terminal illness. cover period) In addition to the Death Benefit, an additional benefit equal to the ADB sum assured (as chosen at inception) shall be paid to the nominee/legal heir. If the Life Assured is diagnosed with Accidental Total Permanent Disability (ATPD) or Terminal Illness, any future premiums under the policy will be paid off.
Life Shield ROP
Under this option, the life assured is provided with a death benefit coverage throughout the policy term, which may be paid out earlier upon the diagnosis of a terminal illness. If the Life Assured is diagnosed with Accidental Total Permanent Disability (ATPD) or Terminal Illness, any future premiums under the policy will be paid off. Benefit payable if the Life Assured survives till date of maturity and if no claims have been paid before date of maturity - You will receive an amount equal to total premiums* paid, as a one-time lump sum on the date of maturity, and the policy will terminate.
What's missing in eTouch
No option to increase your cover with inflation
No option to decrease your cover over time
No payout on disability
No Critical Illness Benefit
No Cover Continuance Benefit
No Insta Payout Benefit
Frequently Asked Questions
What is the Bajaj Life eTouch Plan?
What are the key benefits of the Bajaj Life eTouch Plan?
What riders can customers opt for with the Bajaj Life eTouch Plan?
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