5 Year Term LIfe Insurance Plan Online in India

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Written ByPalak Bagadia

AboutPalak Bagadia

Palak Bagadia, Associate – Digital Marketing at Bajaj Life Insurance, with experience spanning content and performance marketing, recruitment, employee engagement in the BFSI industry, with a strong understanding of the insurance sector.

Reviewed ByRituraj Singh

AboutRituraj Singh

Rituraj Singh,With over 6.5 years of experience in the insurance industry, Rituraj Singh, Manager- Product & Brand Marketing at Bajaj Life Insurance overlooks new product launches, compliance, and brand projects, leveraging artificial intelligence and technology to enhance outcomes.

What is 5 Year Term Life Insurance?
How does a 20 year term plan work?
Benefits
Features
Eligibility Criteria
Term Insurance Plans from Bajaj Life Insurance
Who can buy this plan?
How does this plan work?
Comparing 5 Year Term Insurance with Other Term Plans
Is 5 Year Term Insurance Right for You?
How to Choose
Documents Required
Is there any way to calculate
Features of 5 year term life insurance policies
Who can buy this plan?
How does this plan work?
Conclusion
Why Bajaj Life Insurance ?
FAQs

What is 5 Year Term Life Insurance?

A 5-Year term life insurance policy provides coverage for five years. If the life assured dies during the term, the nominee gets the predetermined amount of money as a death benefit. This arrangement is straightforward and is only intended for short-term needs. It usually costs less than plans with longer terms. People often use it to cover things like loan repayments or other money needs. Some plans allow extra features, such as benefits for accidental death or critical illness. These extras can be added to the plan if needed. The plan ends after five years. If nothing happens to the life assured during this time, the coverage simply stops. It does not return any money This kind of plan is easy to understand, works for a fixed time, and can help give peace of mind for a short period. It may also offer tax savings as per the laws at the time the plan is active.

Benefits of 5 Year Term Life Insurance Plan

A 5-year term life insurance plan gives short-term coverage. If something happens to the life assured during these five years, the family gets the money. It’s simple, affordable, and time-bound.

Low Premiums

A 5-year term plan usually costs less than a long-term one. Since the plan only runs for five years, the payment amount is lower. It can work for people who want coverage for a short time without paying a lot. The cost stays fixed for the full term, and there are no hidden charges or surprises later.

Death Benefits

If the life assured with the plan passes away during the five years, the chosen family member or nominee shall receive a lump sum of money. This money can help them manage regular expenses or clear debts. The benefit is fixed at the start of the plan, and it stays the same till the end of the five-year period.

Financial Security

This plan gives the family financial safety for five years. If the is not there, the money from the plan can help with rent, bills, or school fees. It is good for people with temporary needs or important costs that will go away in a few years.

Tax Benefits

Paying for a 5-year term life insurance plan may give tax benefits under current tax rules. The amount paid for the plan may reduce taxable income. If the family gets money after the person whose life is assured passes away, that money received by the family is also free from tax. These benefits depend on the tax rules at the time the plan is active

Rider Benefits

Riders are extra options that can be added to the plan. Some examples include accidental death benefit, critical illness, or waiver of premium. These add-ons increase the level of coverage. People can choose the ones that match their needs. Riders are optional and cost a bit more, but they give added support.

Features of 5 year term life insurance policies

To truly appreciate the benefits of a 5-year term life insurance policy, it is essential that you understand its features before you buy term insurance for the near future. There are many benefits that you and your family stand to experience by purchasing this plan. Here is a closer look at the key features of a 5-year term life insurance policy.

Low premiums

Term plans, as you may be aware, are pure life covers. This means that the premiums charged are fully utilized for the cover alone, since there is no savings component. As a result, term plans are among the cheapest and most affordable insurance covers you can purchase for securing your family’s future. When you buy term insurance online, you enjoy the advantage of premiums being lowered even further.
Tax benefits

5-year term life insurance policies also come with tax benefits for the policyholder. Under section 80C of the Income Tax Act, 1961, the premiums you pay for the plan are eligible to be deducted from your total taxable income up to Rs. 1,50,000. Therefore, you can reduce your tax burden significantly. Additionally, in the case of your untimely demise during the 5 years covered by the plan, the death benefits your family receives are also exempt from tax. Tax benefits are subject to provisions of Income Tax Act, 1961, as amended from time to time.
Death benefits

Like all term plans, a 5-year term life insurance policy also provides for the surviving members of a family in the event of the policyholder’s demise. The death benefits that these plans offer remain their key beneficial feature. These death benefits are offered to the nominees/ beneficiaries if the policy is still in force. They can be paid out as a lump sum amount or as periodic payments that are made in installments, depending on the policy terms and conditions.
Additional riders

Term life insurance plans are pure life covers, that’s a given. However, some term insurance policies also allow you to add riders to the base plan. Check if the 5-year term life insurance policy you are considering has this feature before you buy term insurance. You can choose from a variety of riders like accidental death benefit, critical illness riders, and permanent total or partial disability riders, which can be purchased at a nominal extra cost.

Eligibility Criteria for 5 Year Term Life Insurance Policy

To get a 5-year term life insurance plan, there are a few basic rules you need to meet. The table below shows who can apply and what is needed.

Eligibility Detail	What It Means
Minimum Age	You should be at least 18 years old.
Maximum Age	Most plans allow you to start the policy until age 65.
Plan Duration	The plan lasts for 5 years only.
Payment Type	You can pay all at once (lump sum), choose limited pay (for a specified period), or regularly (throughout the entire policy term)every year, orhalf-yearly for a few years.
Payment Frequency	You can pay monthly, every 3 months, twice a year, or once a year.
Coverage Amount	The amount can be small or large, depending on what you choose.
Who Can Apply	Mostly Indian citizens; some companies also allow NRIs.
Health Details	You may need to tell if you smoke or have health issues.
Documents Needed	Basic documents likeID, age proof, address proof, and income papers are usually asked for.

Term Insurance Plans from Bajaj Life Insurance

Who can buy this plan?

Before you buy term insurance, it is always a good idea to know what kind of term plan is suitable for your specific requirements. That said, who stands to benefit from a 5-year term life insurance policy? The short answer is family members. To get into the details, this kind of term plan is a good choice for people who wish to secure the future of their families and save them from the burden of heavy financial costs in case something untoward happens.

This is because in case the policyholder, who may often be the primary or the sole earning member in the family, passes away in an untimely manner, the death benefits from the term plan can protect the family from the burden of those financial liabilities.

In addition to these situations, people who wish to secure the costs of their children’s education in the near future, and people who wish to ensure that their children are financially secure will benefit from buying this kind of term insurance.

How does this plan work?

Understanding how a 5-year term life insurance policy works is simple enough. You can purchase this type of plan either online or offline, depending on what the insurer you have chosen offers. In exchange for the life cover, you will need to make premium payments to the insurance company. These premiums can be paid periodically, across various frequencies like monthly, quarterly, half-yearly or annual payments, depending on the product chosen. You can also choose single premium plans.

Comparing 5 Year Term Insurance with Other Term Plans

Term life insurance comes in different time lengths. A 5-year term plan lasts for five years and is good for short periods. It usually costs less than longer plans. A 10-year plan covers more years and may cost a little more. A 20-year plan gives long coverage and often costs more, but lasts longer. Each plan has its own purpose. Some people want short plans to cover loans. Others pick longer plans to help their family over time. The table below shows the basic differences:

Feature	5-Year Plan	10-Year Plan	20-Year Plan
How Long It Lasts	5 Years	10 Years	20 Years
Cost	Low	Medium	Higher
Use	Short needs	Mid-term needs	Long term family
Renewal Needed	Yes	Maybe	Less often

Is 5 Year Term Insurance Right for You?

A 5-year term life insurance plan gives protection for a short time. It runs for five years and stays active only during that period. If something happens to the life assured in those five years, the family may get a fixed amount of money. This type of plan is simple and often costs less than long-term plans. It can be helpful during a time when someone has short-term needs, like a loan or big expenses. After five years, the plan ends. If more protection is needed later, a new plan may be required. There is no payout if the person lives beyond the plan time. The plan does not build savings or give back money at the end. It is meant only for short-term use. The process to get this plan is easy, and most people just need to share basic health and personal details to apply.

How to Choose the Right 5 Year Term Insurance Plan?

Choosing a 5-year term insurance plan can be easy. Below are simple points to help you understand what to look for before picking a plan.

Look at Prices See how much different plans cost. Some may be cheaper than others for the same coverage.
Check Extra Features Some plans give added support, like accident cover or help during illness.
See If It Can Be Renewed Find out if the plan can continue after five years or if you need to get a new one.
Know the Company’s Record Some companies pay faster or more often. This can show how they treat people
Think About Your Reason Are you taking the plan to cover a loan or to help your family for a few years? Pick a plan that matches this.
Online Buying Some plans are easy to buy online. It can save time and may cost a little less.

Each plan is different. Compare to see what works best for your needs.

Documents Required to Buy 5 Year Term Life Insurance

If you've considered a 5-year term life plan, there are a few details worth confirming before making a decision. First, start with the price – plans and situations can charge very different amounts for similar cover. Then see what's included; additional assistance with accidents and/or health issues may add area of cover. Make sure to check if the plan can be continued after five years or if it ends completely. It also helps to go with a company that’s known for paying out claims on time. And finally, check how easy it is to buy—some let you do it all online.

What to Look At	Why It Matters
Cost of the Plan	Some are cheaper, some are not—good to compare
Extras Included	Adds more cover beyond just the basic
Can It Be Continued?	Helps if you want financial protection for more than five years
Company’s Claim Record	Tells you if people get the money when needed
Coverage Amount	The money your family may get if you’re not around
Buying Method	Online or offline—whatever is easier for you

Is there any way to calculate 5-year term life insurance premiums?

Yes, there is a simple way to get an idea of the cost of a 5-year term life insurance plan. You could use an online calculator created for life insurance. Fill in a few simple details, such as your age, gender, income, and smoking status and choose the amount of coverage you need for the five-year period. The calculator will show you an approximate amount that you will need to pay. The calculator provides you with the calculations in seconds and allows you to see how different amounts and time periods can affect costs. You have unlimited opportunities to complete the process. This gives people an understanding of what a plan may cost before making any commitment. The process is quick and easy and can be done on your phone or computer.

Features of 5 year term life insurance policies

Low premiums

Term plans, as you may be aware, are pure life covers. This means that the premiums charged are fully utilized for the cover alone, since there is no savings component. As a result, term plans are among the cheapest and most affordable insurance covers you can purchase for securing your family’s future. When you buy term insurance online, you enjoy the advantage of premiums being lowered even further.
Tax benefits

5-year term life insurance policies also come with tax benefits for the policyholder. Under section 80C of the Income Tax Act, 1961, the premiums you pay for the plan are eligible to be deducted from your total taxable income up to Rs. 1,50,000. Therefore, you can reduce your tax burden significantly. Additionally, in the case of your untimely demise during the 5 years covered by the plan, the death benefits your family receives are also exempt from tax. Tax benefits are subject to provisions of Income Tax Act, 1961, as amended from time to time.
Death benefits

Like all term plans, a 5-year term life insurance policy also provides for the surviving members of a family in the event of the policyholder’s demise. The death benefits that these plans offer remain their key beneficial feature. These death benefits are offered to the nominees/ beneficiaries if the policy is still in force. They can be paid out as a lump sum amount or as periodic payments that are made in instalments, depending on the policy terms and conditions.
Additional riders

Term life insurance plans are pure life covers, that’s a given. However, some term insurance policies also allow you to add riders to the base plan. Check if the 5-year term life insurance policy you are considering has this feature before you buy term insurance. You can choose from a variety of riders like accidental death benefit, critical illness riders, and permanent total or partial disability riders, which can be purchased at a nominal extra cost.

Who can buy this plan?

How does this plan work?

Understanding how a 5-year term life insurance policy works is simple enough. You can purchase this type of plan either online or offline, depending on what the insurer you have chosen offers. In exchange for the life cover, you will need to make premium payments to the insurance company. These premiums can be paid periodically, across various frequencies like monthly, quarterly, half-yearly or annual payments depending on the product chosen. You can also choose single premium plans.

Conclusion

Therefore, you now know how this kind of term plan can be beneficial to the policyholder as well as to their family. Like this, there are many types of term insurance plans, each with their own distinct benefits and features. It is best to look into the options before you buy term insurance.

99.29%

Claim Settlement Ratio^~

1 Day

Get 1 Day Claim Approval^%

AAA

Stable Rating by CARE^$$

₹1,30,733 Cr

Assets Under Management (AUM)^***

3.52 Cr

Number of Lives Covered^##

343%

Solvency Ratio of 343%^{^^^}

Disclaimer:^~Individual Death Claim Settlement Ratio for FY 2024-2025 | ^%99.29% of non-investigative individual claims approved in one working day for FY 2024-25. 1 day is counted from date of intimation of claim before 3 PM on a working day (excluding Non-NAV days for ULIP) at Bajaj Life Insurance offices. 96% of non - investigative claims notified were processed within one day in FY’25 | ^$$For details refer to press release published by CARE | ^***Asset under management (AUM) ₹1.30 lakh crore as on August, 2025 | ^{^^^}Solvency ratio 343% as at 30st June 2025 against IRDAI mandated 150% | ^##Individual and group, as on 31st August, 2025.

Frequently Asked Questions

1. Is there a 5-year term life insurance policy?

Yes, a 5-year term life insurance policy provides coverage for 5 years. If the does pass away during that time, the selected beneficiary will receive the amount selected. The policy would end after five years. It will not act as a return of money if nothing happens while you have the policy. A term life insurance policy is typically chosen for short-term needs like loans or other short-term goals where coverage is only needed for a few years.

2. Who should buy a 5-year term insurance policy?

A 5-year term plan can be helpful for someone who needs short-term life cover. This includes people with a home loan, business loan, or other short-time money needs. It’s for those who want life insurance during a specific time, such as while raising young children or paying off something big. The plan gives peace of mind during that period and ends once the five years are over. It's not meant for long-term coverage.

3. Can I renew my 5-year term insurance?

Some plans may allow renewal after five years, while others may not. It depends on the company and the rules of the plan. Renewal means continuing the plan for more years after it ends. Sometimes, the cost may go up when you renew. It’s always helpful to check if the plan gives an option to continue or if a new plan would be needed after the five years are done.

4. Does a 5-year term plan offer a maturity benefit?

In most cases, a 5-year term plan does not give any money back when the term ends. If the person lives through the five years, there is no payout. Some special plans may offer a return of the amount paid, but those are different from regular term plans. The main use of the plan is to give money to the family if something happens during the five years, not after that.

5. Is medical check-up required for a 5-year term plan?

A health check-up may be needed based on your age, lifestyle, or the amount of coverage you want. Younger applicants and people who select a low amount might not need tests at all. But typically, when companies offer a higher amount or for older age groups, they would require a very basic simple medical test. This supports the company in understanding your health before establishing the plan, but it is clearly not the same for all.

6. Can NRIs buy a 5-year term plan in India?

Yes, Non-Resident Indians (NRIs) can buy a 5-year term life insurance plan from India. They need to meet some rules like age, documents, and payment methods. The process can often be done online or from outside the country. The coverage works just like it does for residents in India. Some plans may also require a medical test, depending on the sum assured and the person’s health history.

7. Can policyholders opt for riders with a 5-year term insurance plan?

Yes, many 5-year term life insurance plans offer riders. Riders are extra features that give more cover. Some common ones include accidental death benefit, critical illness cover, and waiver of premium. These can be added while buying the plan and cost a little more. They help add extra protection to the basic plan. Not all riders are available with every plan, so options may change based on the company.

8. How can one cancel the 5-year term insurance policy?

To cancel a 5-year term plan, you can contact the insurance company. If you cancel during the free-look period (usually 30 days after starting), you may get most of your money back. After that period, the policy can still be canceled, but the money already paid may not be returned. The process is usually simple and just needs a written request or online form.

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Investment Calculator

Answer a few simple questions to know estimated corpus you will have to fulfil your Life Goals.

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Savings to Life Goals Convertor

Use this calculator to know how savings from regular expenses can help you achieve your Life Goals.

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Get to know your Financial Fitness Score by answering few simple questions.

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Use our immunity calculator to find out your immunity score in just a few clicks!

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Know the amount to invest today to have the corpus to accomplish your Life Goals tomorrow.

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Customer Speaks

Quick & Confident

The term insurance buying process was smooth and fast. I felt confident knowing my family would be financially secure, without having to go through complicated paperwork or jargon.

Sanjay Kumar

Smart Investment Choice

I opted for coverage early on to stay ahead. The premium is quite affordable, and I don’t need to pay it all at once. Honestly, I found it better than investing a huge amount all at once in a fixed deposit. Here I can pay smaller amounts at regular intervals and get high coverage.

Hardik Pathak

Easy Online Purchase

My experience of buying a term plan online was very smooth. Everything was clear, from features to benefits. The calculator helped me precisely calculate the premium I would have to pay for the required coverage. The support team too was helpful and cleared all my doubts aptly. Highly recommended.

Taurn Shinde

Life-Stage Coverage

I looked for a term plan that balanced cost and security. The coverage fits my life stage and gives me confidence for the future. Now my family can fulfil all their future goals even if I am not around to provide for them.

Ritika Malkani

Seamless Experience

The entire experience, from choosing the policy to receiving confirmation, was seamless. It's one of the most reassuring financial decisions I’ve made.

Siya Rai

Flexible & Comprehensive

After comparing various term insurance plans, I picked one with flexible options and rider benefits. It fits my needs perfectly.

Nishant Ahuja

Happy with the services

I have invested in various products of Bajaj Life Insurance - I am happy with the services, returns and diversified product portfolio.

Rashmi Bhavnani

Satisfied, Trust

I am a happy customer who is satisfied with the after sales service. I have full trust in Bajaj Life Insurance Company.

Shrikant A Karande

Happy with the returns

I was introduced by my advisor to invest in Bajaj Life Insurance .I have invested in the same and am happy with the returns and services.

Kavita Goplani

Very Happy

I am a 7 year old customer of Bajaj Life Insurance and very happy about the services.

Dhruv Soni

Excellent Support

The Bajaj Life Insurance Term Insurance Plan has been extremely helpful and convenient. The online process was smooth, and the customer support is excellent. What impressed me the most is how economical it is while still offering strong coverage. It’s a smart and reliable choice for anyone looking to secure their family’s future. Highly recommended!

SEEMA BIPINKUMAR RESHAMWALA

Reviewed by Life Insurance Experts

Bajaj Life Insurance is a trusted insurance partner

At Bajaj Life Insurance, we are here to support you in building a secure and worry-free financial future. With over 24 years of experience, we provide a variety of life insurance plans, including protection, retirement, savings, investment and health, to meet your unique needs.

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Disclaimers:

^~Tax benefits as per prevailing Income tax laws shall apply. Please check with your tax consultant for eligibility.

The above information is for general understanding and is meant to educate the general public at large. The reader will have to verify the facts, law and content with the prevailing tax statutes and seek appropriate professional advice before acting on the basis of the above information.

The views stated in this article is not to be construed as investment advice and readers are suggested to seek independent financial advice before making any investment decisions. For more details on risk factors, terms and conditions please read sales brochure & policy document (available on www.bajajlifeinsurance.com) carefully before concluding a sale.

¹5% Discount applicable for customer's first individual life insurance policy on the life of the LA, applicable only on first year’s premium. 5% Discount for salaried employees, applicable only on first year’s premium. 6% Discount on online purchase is available for regular premium payment and limited premium payment frequency on first year's premium.

⁴Above illustration is for Bajaj Life eTouch II- A Non-Linked, Non-Participating, Individual Life Insurance Term Plan (UIN: 116N198V01) considering Male aged 23 years | Non-Smoker Preferred | Annual Income =>Rs. 15,00,000 per annum | Indian Resident | Policy Term (PT)– 30 years | Premium Payment Term (PPT) – 30 years | Sum Assured opted is Rs. 2,00,00,000 | Online Channel | Standard Life | 1st Year Premium is Rs. 7,159. 2nd Year onwards premium is Rs. 7,760. Total Premium is Rs. 2,32,199 | Medical Rates | Yearly Premium Payment Mode | Death benefit opted is lumpsum payout and monthly instalments (Lumpsum Payout Percentage : 40, Income Payout Percentage : 60). Income payout instalment opted for 40 years | Premium shown above is inclusive of Online Discount only, no other discounts have been considered and exclusive of Goods & Service Tax/ any other applicable tax levied, subject to changes in tax laws, and any extra premium and is for illustrative purpose only. For more details on risk factors, terms and conditions please read sales brochure & policy document (available on www.bajajlifeinsurance.com ) carefully before concluding a sale.

⁵Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy. Above Tax benefit is calculated considering deduction of Rs. 150,000 and applicable tax rate of 31.20%.

²Get Free Health Management Services upto ₹ 31,000 per year

Health Management Services	Frequency	Cost (₹)
Doctor Insta-Consultations	3 consultations per month = 36 consultations per year	Average cost per session = ₹ 500 Total cost per year = ₹ 500 * 36 = ₹ 18,000
Health Coach (Diet & nutrition consultations)	1 consultation per month = 12 consultations per year	Average cost per session = ₹ 500 Total cost per year = ₹ 500 * 12 = ₹ 6,000
Emotional Wellness (Psychologists consultations)	1 consultation per month = 12 consultations per year	Average cost per session = ₹ 500 Total cost per year = ₹ 500 * 12 = ₹ 6,000
Network discounts: Medicines (M) - 10% Lab-test booking (L) - 10%	Throughout the year	Assumption – Total expense on these services throughout the year	Total discounts that can be availed throughout the year
		M - ₹ 5,000	₹ 500
		L - ₹ 5,000	₹ 500
Total per year as per assumption		₹ 31,000

Note: The above mentioned costs are based on estimated average market price for respective services. T&C apply.

Doctor Insta-Consultations and Health Coach Services are unlimited and the above numbers are assumed only for the purpose of calculation of the yearly benefit.

⁶Through Parental Care Option available in Bajaj Life Family Protect Rider (UIN:116B056V01)

^*Tax benefits as per prevailing Section 10(10D) and Section 80C (under old tax regime) of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy

Bajaj Life Insurance Limited, Bajaj Life eTouch II, Bajaj Life New Critical Illness Benefit Rider and Bajaj Life Family Protect Rider are the names of the company and the product/rider respectively and do not in any way indicate the quality of the product/rider and its future prospects or returns. For more details on risk factors, terms and conditions please read sales brochure & policy document of base product and rider carefully before concluding a sale or consult your “Insurance Consultant” for more details and eligibility conditions. Bajaj Life Superwoman Term comprises of Bajaj Life eTouch II – Life Shield variant (UIN:116N198V03) a Non-linked Non- Participating Individual Life Insurance Term Plan, Bajaj Life New Critical Illness Benefit Rider – Comprehensive option (UIN: 116B058V01) a Non-Linked, Non-Participating, Individual, Pure Risk Health Rider (this is a mandatory rider) and Bajaj Life Family Protect Rider – Child Care option (UIN: 116B056V01) - a Non-linked, Non-participating, Individual, Pure Risk Health Rider (this is an optional rider).

Bajaj Life eTouch II is also available individually for sale without the riders or with the other available riders options under the base policy.

^{^^*}Available with Bajaj Life Family Protect Rider – Child Care option - A Lumpsum benefit equal to 105% of Total premiums paid4 w.r.t rider will be paid on the earliest occurrence of death or Accidental Total Permanent Disability, plus a monthly income as a percentage (0.1% to 0.5%) of Rider Sum Assured as opted at inception will be paid until child turns Age 25. 4Total Premiums Paid: Total Premiums paid till date w.r.t. the rider option shall be the total of all premiums received under the rider option chosen, exclusive of taxes, extra premium w.r.t. the rider, if any. This is an optional rider.

^~~~Available with Bajaj Life New Critical Illness Benefit Rider - Comprehensive option (UIN: 116B058V01) - A Non-Linked, Non-Participating, Individual, Pure Risk Health Rider. This is a mandatory rider

^{^^^}Health Management Services for Women upto ₹ 36,500 per year

Health Management Services for Women	Frequency	Cost (₹)
Comprehensive Health Check-Up: - Cancer Screening - Diabetic, Thyroid, Lipid profile tests - Calcium Serum test - Complete Blood Count test	1 per year	₹ 3,500
*OPD^{^} in-clinic consultations* (Specialist doctors like Gynaecologist, Obstetrician, Dermatologist, Paediatrician, Orthopaedic & General Physician) ^{^}OPD – Outpatient Department	1 per year	₹ 1,000
*Pregnancy OPD^* wallet** (OPD^ benefit worth ₹ 2,000 unlocked in case of pregnancy)	Once during policy term	Not considered in yearly cost since this is available once during policy term
Doctor Insta-Consultations	3 consultations per month = 36 consultations per year	Average cost per session = ₹ 500 Total cost per year = ₹ 500 * 36 = ₹ 18,000
Health Coach (Diet & nutrition consultations)	1 consultation per month = 12 consultations per year	Average cost per session = ₹ 500 Total cost per year = ₹ 500 * 12 = ₹ 6,000
Emotional Wellness (Psychologists consultations)	1 consultation per month = 12 consultations per year	Average cost per session = ₹ 500 Total cost per year = ₹ 500 * 12 = ₹ 6,000
Network discounts: Medicines (M) - 10% Lab-test booking (L) - 10% Out-patient consultation (O) - 10% In-patient consultation (P) - 5%	Throughout the year	Assumption – Total expense on these services throughout the year	Total discounts that can be availed throughout the year
		M - ₹ 5,000	₹ 500
		L - ₹ 5,000	₹ 500
		O - ₹ 5,000	₹ 500
		P - ₹ 10,000	₹ 500
Total per year as per assumption		₹ 36,500

Note: The above mentioned costs are based on estimated average market price for respective services. T&C apply.

Doctor insta consultations and health coach services are unlimited and the above numbers are assumed only for the purpose of calculation of the yearly benefit.

⁷Above illustration is for Bajaj Life iSecure - A Non-Linked Non-Participating Term Life Insurance Plan (UIN:116N109V05) considering Male aged 25 years | Non-Smoker | Policy Term (PT) – 10 years | Premium Payment Term (PPT) – 10 years | Sum Assured opted is ₹ 50,00,000 | Online Channel | Standard Life | Total Premium Paid is ₹ 1,17,340 | Medical Rates | Monthly Premium Payment Mode | Premium shown above is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws, and any extra premium and is for illustrative purpose only.

⁸If the customer is digitally KYC compliant and meets the eligibility criteria, medical, and underwriting norms.

⁹2% Discount on online purchase is available for regular premium payment and limited premium payment frequency throughout the premium payment term.

²⁷Tax benefits as per prevailing Section 10(10D) and Section 80C (under old tax regime) of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.

²¹HSAR – High Sum Assured Rebate is subject to policy terms and conditions

²²Premium rate applicable to female life will be based on the premium rate of 3 years’ younger male

³5% Discount applicable for customer's first individual life insurance policy, applicable only on first year’s premium, 5% Discount for salaried customers, applicable only on first year’s premium, 6% Discount on online purchase is available for regular premium payment and limited premium payment frequency, applicable only on first year’s premium.

²Above illustration is for Bajaj Life Smart Protection Goal - A Non Linked, Non Participating, Individual Life Insurance Term Plan (UIN: 116N174V05) considering Male aged 25 years | Non-Smoker | Standard Life | Policy term (PT)– 30 years | Premium Payment Term (PPT) – 30 years | Total Sum Assured opted is Rs. 1,00,00,000 | Total Premium - Rs. 2,08,143 (1st Year Premium is Rs- 6535/- and 2nd Year onwards Rs -6952/- )| Online Channel | This is exclusive of discount for salaried customers and for customer's first individual life insurance policy | medical rates | Yearly Premium Payment Mode | Premium shown above is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws, and any extra premium and is for illustrative purpose only.

¹Product feature/benefit mentioned above are dependent on optional benefit, if selected.

^~Tax benefits as per prevailing Section 10(10D) and Section 80C (under old tax regime) of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS

IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

CIN: U66010PN2001PLC015959 | Registered Office Address: Bajaj Insurance House, Airport Road, Yerawada, Pune - 411006, Maharashtra

Email: customercare@bajajlife.com | Customer Care No.: 020 6712 1212

Disclaimer: Images used on this website and the models photographed in them are for representative purposes only and are not indicative of anyone's personal thoughts or ideas.

The Logo of Bajaj Life Insurance Limited is provided on the basis of license given by Bajaj Finserv Ltd. to use its “Bajaj” Logo.

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Disclaimer

For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale. The terms and conditions of product/plan as contained in the Policy Document issued by the Company is available on the Web Site. The names of the Company, Products/Plans/funds do not indicate the quality and its future prospects or returns. IN ULIPs, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. Unlike traditional products, Unit linked insurance products are subject to market risk, which affect the Net Asset Values & the customer shall be responsible for his/her decision. Tax benefits are as per the prevailing Income Tax Laws including the Income Tax Act, 1961 and are subject to change from time to time. Goods and Services Tax will have to be borne by the Policyholder as per applicable rates. All other charges shall be levied in accordance with the terms and conditions of the policy.

This calculation and results displayed are based on information provided and certain assumptions about the rates of return. It is for assistance only and does not constitute an offer or solicitation. It is not intended to be and must not alone be taken as the basis for an investment decision. Kindly note that the returns are only illustrative and they are not guaranteed. The returns do not indicate the upper or lower limits of the return that you may get with your policy and the value is dependent on a number of factors including future performance. Bajaj Life Insurance Limited shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information reported by the calculator.

¹©2021 Morningstar. All Rights Reserved. The Morningstar name and logo are registered marks of Morningstar, Inc. The information, data, analyses and opinions ("Information") contained herein: (1) include the proprietary information of Morningstar and its content providers; (2) may not be copied or redistributed except as specifically authorized; (3) do not constitute investment advice; (4) are provided solely for informational purposes; (5) are not warranted to be complete, accurate or timely; and (6) may be drawn from fund data published on various dates and procured from various sources. Morningstar, its affiliates, and its officers, directors and employees shall not be liable for any trading decision, damage or any other loss arising from using the Information. Please verify all of the Information before using it and do not make any investment decision, except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up

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Claim Settlement Ratio of 99.29%^~

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5 Year Term Insurance Policy

Get Life Cover of ₹1 Crore Term Insurance Plan at ₹14*/Day

Enjoy a 16% Discount on 1st year Premium**

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Solvency Ratio of 343%^^^

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1. Is there a 5-year term life insurance policy?

2. Who should buy a 5-year term insurance policy?

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4. Does a 5-year term plan offer a maturity benefit?

5. Is medical check-up required for a 5-year term plan?

6. Can NRIs buy a 5-year term plan in India?

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Life Insurance Made Easy | Accidental Death & Disability Rider

Enjoy a 16% Discount on 1^st year Premium**

Claim Settlement Ratio^~

Get 1 Day Claim Approval^%

Stable Rating by CARE^$$

Assets Under Management (AUM)^***

Number of Lives Covered^##

Solvency Ratio of 343%^{^^^}