Bajaj Life Diabetic Term Plan II Sub 8 HbA1c

Term Insurance Eligibility for People with Diabetes

People with diabetes can buy term insurance. Eligibility can depend on factors such as the type of diabetes, HbA1c levels, age, overall health, policy term and other underwriting considerations.

Instead of viewing diabetes as an automatic barrier to life cover, insurers assess the individual's health and risk profile before deciding the terms on which they may offer a policy.

Importance of Term Insurance for People with Diabetes

Term insurance can help create a financial safety net for your family in case of your untimely demise during the policy term. The death benefit can help your family manage everyday expenses, outstanding loans, children's education and other long-term financial commitments when you are no longer around to provide for them.

For someone living with diabetes, having adequate life cover can therefore be an important part of financial planning.

Impact of Diabetes on Term Insurance Premiums

Diabetes can be one of the factors considered while determining your term insurance premium. Insurers may assess factors such as your HbA1c level, age, medical history and overall health as part of the underwriting process.

However, having diabetes does not by itself determine the premium you will pay. The premium depends on your individual risk profile as well as the chosen policy and coverage details.

Bajaj Life Diabetic Term Plan II Sub 8 HbA1c is a term insurance plan designed specifically for eligible Type 2 diabetics and pre-diabetics. It provides life insurance cover to help financially protect the policyholder's family in case of an unfortunate event during the policy term.

For people with Type 2 diabetes, an important eligibility criterion under the plan is the HbA1c level, which can be less than or equal to 8, subject to applicable underwriting and product conditions.

What Does "Sub 8 HbA1c" Mean?

HbA1c is a measure of your average blood glucose levels over approximately the previous two to three months.

In the context of this plan, “Sub 8 HbA1c” refers to the product's eligibility criterion under which eligible Type 2 diabetics with HbA1c levels less than or equal to 8% may apply for the plan.

Meeting the HbA1c criterion does not by itself guarantee policy issuance. Eligibility remains subject to underwriting and other applicable product conditions.

What Does the Plan Offer?

Bajaj Life Diabetic Term Plan II Sub 8 HbA1c is designed for eligible Type 2 diabetics with HbA1c levels less than or equal to 8 and eligible pre-diabetics. The plan gives eligible individuals living with diabetes the opportunity to apply for term insurance, subject to applicable underwriting and product conditions.

Key Eligibility Considerations

When applying for the plan, some of the key factors that may be considered include:

Note: Meeting the applicable HbA1c and age criteria does not automatically guarantee policy issuance. The application remains subject to underwriting and other applicable product conditions.

When Can the Plan Not Be Offered? (Exclusions)

While Bajaj Life Diabetic Term Plan II Sub 8 HbA1c is designed for eligible Type 2 diabetics and pre-diabetics, certain health conditions and parameters may make an applicant ineligible for the plan. Some of the key conditions are listed below:

Designed Around the Needs of Eligible Diabetic Customers

Diabetes does not necessarily have to be a barrier to getting life cover. Bajaj Life Diabetic Term Plan II is specifically designed for eligible Type 2 diabetics and pre-diabetics, allowing them to seek financial protection for their families through a dedicated term insurance plan.

Life Cover for Financial Protection

The plan offers life cover starting from ₹25 lakh. If the life assured passes away during the policy term, the death benefit can support the family and help them manage their financial needs and commitments.

Flexible Premium Payment Frequencies

You can choose to pay your premiums yearly or monthly. This flexibility lets you choose a payment frequency that better aligns with your regular cash flow and financial planning.

Premium Benefits and Rebates

Depending on the applicable conditions, customers may also be eligible for certain premium-related benefits:

• Preferential premium rates for non-tobacco users
• High Sum Assured Rebate for policies with a Sum Assured above ₹1 crore
• 5% salary rebate on the first-year premium for eligible salaried customers
• 5% web rebate on the first-year premium for eligible online, web aggregator and ISNP sales
• Rebate of 4% available (through-out the premium payment term) for our staff

The availability and applicability of premium benefits and rebates are subject to the terms and conditions of the plan.

In case of death during the policy term:

If the life assured passes away while the policy is in force, the applicable death benefit is payable in accordance with the policy terms and conditions.

On survival until the end of the policy term:

No maturity benefit is payable if the life assured survives until the end of the policy term. The policy terminates on the maturity date.

The premium for diabetic term insurance is determined based on your individual risk profile and the policy options you choose. Diabetes and HbA1c levels may be considered as part of the underwriting process, along with other health, personal and policy-related factors.

Factors That May Affect the Premium

Some of the factors that may be considered while determining the premium include:

• Age
• Gender
• HbA1c level and diabetes-related health information
• Overall health and medical history
• Tobacco usage
• Chosen Sum Assured
• Policy term
• Premium payment frequency
• Other applicable underwriting factors

The final premium is determined after assessing the customer's individual profile and applicable policy details.

Does a Higher HbA1c Mean a Higher Premium?

Not necessarily. HbA1c is one of several factors considered while determining the premium, along with age, gender, Sum Assured, tobacco use, overall health, policy term and premium payment frequency. Therefore, a higher HbA1c reading alone does not determine the premium payable.

Under Bajaj Life Diabetic Term Plan II, eligible Type 2 diabetics with HbA1c levels up to 8% can apply for the plan, subject to applicable underwriting and product conditions.