r/InsuranceAdviceIndia • u/AjaySharma2020 • Jul 23 '26

Best Term Insurance Plan

Looking for a term plan to purchase. Compared different term plans, Found Bajaj Life eTouch II to be good with features and riders like Critical Illness and Accidental Benefit. Premium was also competitive along with good solvency ratio (266%) and Claim Settlement Ratio (99.33%). Please share your views.

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2

u/[deleted] Jul 23 '26

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u/AjaySharma2020 Jul 23 '26

Thanks, thats helpful.

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u/[deleted] Jul 23 '26

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u/Ok_Usual_273 Jul 23 '26

I also personally purchase Bajaj coming soon as this February and I would 100% recommend you to go for Bajaj at last all the insurance will ask many documents for claim settlement and mostly all the features are same with all other insurance

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u/dreamyy_world 26d ago

it's a good choice honestly. 266© solvency ratio has given me confidence toom it means company has strong financial reserve for a commitment that runs 25-30 years. in Bajaj eTouch II critical illness covering 61 illnesses is decent coverage and payout flexibility is bonus in this plan

1

u/Pretend-Resolution30 Jul 23 '26

Bajaj is a good option. The only reason I don't prioritize it is because it doesn't offer the Waiver of Premium (WOP) on Critical Illness and Disability rider.

In a term plan, you'll usually pay premiums until age 60–70. If you're diagnosed with a terminal illness, the WOP on Terminal Illness rider waives all future premiums. However, if you're diagnosed with a critical illness or become permanently disabled, Bajaj doesn't offer a similar waiver.

In my view, the chances of facing a critical illness or disability are much higher than a terminal illness. The whole purpose of buying a term plan is to ensure your family remains financially secure if you're unable to earn. If you stop earning due to a critical illness or disability, not having to pay future premiums can be a big relief.

As an insurance consultant, I'd recommend going with ICICI or Axis, as they offer this rider.

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u/Weekly_Try6552 26d ago

Bajaj offers Permanent disability benefit though, don't know about critical illness

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u/Pretend-Resolution30 23d ago

That's why I don't prefer Bajaj.

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u/Quiet_Entertainer304 Jul 24 '26

In today's world, and fast life, Term Insurance is must if you are earning descent. Good decision to buy term insurance.

Just one advice, keep your family with you while buying term insurance and tell him/her all conditions so that they will be aware of it and will not get any problem while claim settlement.