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  • Bajaj Allianz Accidental Permanent Total/Partial Disability Rider

    Life Insurance
    • Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
    • Claim up to Rs. 1,50,000 deduction under section 80C**
    • Choose between annual and monthly premium payment options

     If you are the sole breadwinner of your family, then your primary responsibility is to safeguard their financial future. Unforeseen events can ruin the financial strength of a family and hence, it is necessary to have an income protection plan to guard against such eventualities beforehand. Bajaj Allianz Accidental Permanent Total/Partial Disability Benefit Rider ensures financial protection of your family, in case an unfortunate incident leaves you in a disabled condition.

    Eligibility – Who is the Bajaj Allianz Permanent Total/Partial Disability Benefit Rider for?

    The below mentioned parameters determine your eligibility for Bajaj Allianz Permanent Total/Partial Disability Benefit Rider:

    Minimum age at entry 18 years
    Maximum age at entry 60 years
    Maximum age at maturity 65 years

    Sum Assured and Premium Payment Term - What you get and what it costs?

    Rider term Depending on the base policy selected, the rider term can range from 5 years to 47 years. However, the rider term will never be higher than the base policy term.
    Rider premium term It depends on the base policy and the maximum premium term period is 30 years. The rider premium term can be lower or equal to the base policy term, but in no case it shall go beyond the base policy term.
    Premium payment frequency Depends on the base policy selected
    Minimum rider sum assured Depends on the base policy selected
    Maximum rider sum assured As per the sum assured offered under the base plan, subject to a maximum of Rs.1 crore. Note that the maximum rider sum assured will never be higher than the sum assured offered under your base policy.

    Plan Coverage - What Bajaj Allianz Permanent Total/Partial Disability Rider covers?

    The Bajaj Allianz Permanent Total/Partial Disability Rider offers the following benefits:

    • The plan offers only accidental permanent partial and/or total disability benefits
    • No death benefits are offered under the rider
    • No maturity benefits are offered under the rider

    The coverage options are discussed in detail in the below table:

    Permanent and partial disability payout If the policyholder is partially disabled and the disability is of a permanent nature, then he/she shall receive 50% of the benefits payable under the rider sum assured.
    Permanent and total disability payout If the policyholder has not availed benefits earlier under the rider and he/she suffers disability which is permanent and total, then the policyholder shall receive the entire sum assured offered under the rider. The rider will terminate once the sum assured has been paid.
    Additional claims within a year If the benefits offered under the rider have been availed once and the policyholder applies for claims within one year from the previous occurrence due to permanent and total disability, then the benefits paid shall be 50% of the rider sum assured.
    Additional claims after a year If the benefits offered under the rider have been availed once and the policyholder applies for claims a second time after one year from the previous occurrence, then the entire sum assured will be paid.
    Joint policies In case of a joint policy, the benefits will be paid separately to each life assured.
    Inclusion and exclusion of rider benefits in the base policy At any policy anniversary you will have the option to include or exclude the rider in your base plan. The inclusion of rider shall be based on the underwriting principles and the remaining premium payment. In case of joint life insurance plans, both policyholders can opt for riders. But if you choose to exclude the rider, it will immediately terminate and no rider premiums shall be collected from the next payment term of the base policy. You will be eligible for surrender benefits if the rider premium payment term is less than the term period of the rider. The rider once excluded can be added again.

    Exclusions - What the Bajaj Allianz Permanent Total/Partial Disability Rider doesn’t cover?

    The benefits under Bajaj Allianz Permanent Total/Partial Disability Rider shall not be payable under the following conditions:

    • If the disability is caused due to the policyholder’s involvement in activities of criminal nature.
    • If the disability is caused due to war, invasion, riots, etc.
    • If the disability is a result of alcohol or drug abuse.
    • If the disability is caused due to an armed forces operation.
    • Disability as result of policyholder’s participation in dangerous sports activities, driving, or other such competitions.
    • Disability caused due to gliding or aero sports other than the ones involving scheduled civil airlines flight.
    • Disability caused due to self-harm, whether sane or insane.

    Other Benefits – How you can save with the Bajaj Allianz Permanent Total/Partial Disability Rider?

    Bajaj Allianz offers an online customer portal where you can login and see the details of your premium payments, coverage details, and payouts. You can also renew your policies online and the payments can be made through the following channels:

    Debit Cards MasterCard, Visa, Maestro, and RuPay cards are accepted
    Credit Cards MasterCard, Visa, Maestro, American Express, and Diners Club cards are accepted
    Bill Junction You can register at Bill Junction and authorise your premium payments online
    Net banking You can use the net banking facility offered by your bank to make premium payments online
    e-Wallets Premiums can be paid through e-Wallets like Jio Money, Airtel Money, ITZCash, iCashCard, PayCash, Oxigen, and Idea Money

    Why should you buy the Bajaj Allianz Permanent Total/ Partial Disability Rider?

    The disability rider option gives you an assurance of financial stability in case an unfortunate event— causing a partial or total disability— renders you incapable of working. The Bajaj Allianz Permanent Total/ Partial Disability Rider is a result of the extensive research conducted by Bajaj Allianz on local market requirements.  Also with a competitive pricing and immediate response mechanism, the company has earned a name as one of the leading insurance companies in India.