Bajaj Life eTouch II

Variants of Bajaj Life eTouch II

The plan offers three variants Life Shield, Life Shield Plus and Life Shield ROP. The selected variant cannot be changed after the policy begins, so the choice must be made carefully at the time of purchase.

Life Shield - Life Shield is the basic protection variant. It provides a death benefit, terminal illness benefit and waiver of future premiums on accidental total permanent disability. It does not provide an additional accidental death payout or a maturity benefit. This variant is suitable for someone who wants a large life cover at a comparatively straightforward premium and does not expect money back if they survive the policy term.

Life Shield Plus - Life Shield Plus provides all the major benefits available under Life Shield, along with an additional accidental death benefit. If the insured person dies due to a covered accident, the nominee receives the base death benefit plus the selected accidental death benefit.

This variant may be relevant for people who travel frequently, spend significant time driving, work in field-based roles or believe that their lifestyle creates greater accidental exposure.

Life Shield ROP - Life Shield ROP is the return-of-premium variant. It provides death protection, terminal illness protection and waiver of premium benefits. If the life assured survives until the end of the policy term, the plan returns the eligible total premiums paid under the base policy.

The maturity amount does not normally include taxes, rider premiums or underwriting extra premiums because “Total Premiums Paid” is defined with these exclusions in the brochure. This variant is designed for customers who are uncomfortable with the idea of paying term insurance premiums without receiving anything at maturity.

Eligibility of Bajaj Life eTouch II

Before choosing Bajaj Life eTouch II, it is important to understand who is eligible to buy the plan and whether it matches your age, income, and coverage requirements. Let’s look at the basic eligibility and who can apply for this term insurance plan. Final approval is subject to the insurer’s underwriting process and submission of the required documents.

The minimum entry age for Bajaj Life eTouch II is 18 years and the maximum entry age is generally 65 years. For the Pay Till Age 60 option, the maximum entry age is 55 years. The minimum base sum assured is Rs. 50 lakh, while the maximum cover is subject to the insurer’s underwriting policy.

Premiums can be paid yearly, half-yearly, quarterly or monthly. Customers can choose to pay throughout the policy term, for a limited number of years, or under the Pay Till Age 60 structure, depending on the selected variant and eligibility. Limited payment choices include terms such as 5 Pay, 6 Pay, 10 Pay, 12 Pay, 15 Pay and 20 Pay.

Life Shield and Life Shield Plus can offer long-duration coverage, including structures that may continue up to age 99. The accidental death benefit under Life Shield Plus is available only up to age 85. Life Shield ROP has a maximum maturity age of 85 and a maximum policy term of 50 years.

Death Benefit Payout of eTouch II Plan

The policyholder can decide how the family should receive the death benefit.

The nominee may receive the entire amount as a lump sum, the entire amount as monthly income, or a combination of lump sum and monthly income. The income period can be selected for 5, 10, 20, 30 or 40 years.

This feature can be helpful when the nominee may not be comfortable managing a large amount of money at once. A lump-sum payout may be useful for immediately clearing loans, while monthly income may help the family replace the deceased person’s salary.

Who Is Bajaj Life eTouch II For?

Let us take a closer look at who can buy the Bajaj Life eTouch II term insurance plan. Below are the key eligibility criteria and customer categories for whom this plan may be suitable.

Primary Income Earners - This plan is primarily suitable for salaried employees, business owners, professionals and self-employed individuals whose family depends on their income. A person with a spouse, children, dependent parents or outstanding loans should consider having adequate term insurance. The cover should be calculated according to income, liabilities, future family expenses and existing financial assets rather than selecting an arbitrary figure such as Rs. 50 lakh or Rs. 1 crore.

Young Professionals - Bajaj Life eTouch II can be considered by young earners who want to lock in long-term protection while they are relatively young and healthy.

The Life Stage Upgrade feature can allow eligible customers to increase their cover following events such as marriage, the birth or adoption of children, a home loan or an education loan for children.

People With Long-Term Loans - Individuals with a home loan, business loan or other major liabilities may use the plan to ensure that their family does not have to repay those liabilities from personal savings after their death.

Who Should Think Carefully Before Buying It?

Bajaj Life eTouch II may not be the right choice for someone searching primarily for investment growth, guaranteed high returns or regular wealth accumulation. Its main objective is life protection.

Customers wanting a cover of less than Rs. 50 lakh will also not meet the plan’s minimum sum-assured requirement.

Life Shield ROP may not be appropriate for someone whose priority is obtaining the highest possible cover at the lowest premium. The customer should compare the additional premium paid for the ROP option with a pure term plan before making a decision.

The plan may also be less suitable for someone who needs easy access to money in the early years. Life Shield and Life Shield Plus do not provide a paid-up value if premiums stop after the grace period, and their early exit conditions are restrictive. The ROP variant can acquire surrender value, but surrendering early may return much less than the premiums paid.

Bajaj Life eTouch II is a flexible online term insurance plan for people who want long-term family protection with multiple premium payment and benefit payout options.

Life Shield is better aligned with customers seeking life protection. Life Shield Plus is intended for those who also want an additional accidental death payout. Life Shield ROP is designed for customers willing to pay a higher premium in exchange for the return of eligible base premiums at maturity.

The plan’s standout features are terminal illness protection, waiver of premium on accidental total permanent disability, flexible nominee payout options, long-duration cover, Premium Holiday, Auto Cover Continuance and Life Stage Upgrade. The final decision should be based on the required life cover, premium affordability, liabilities, dependants, health disclosures and the exact benefit illustration.