Bajaj Allianz Life Insurance unveils women-centric term plan with critical illness, child care benefits

Bajaj Allianz Life Insurance has unveiled a new term insurance plan exclusively for women, named Bajaj Allianz Life Superwoman Term. This product aims to provide comprehensive financial security, addressing various aspects of women's insurance needs beyond traditional offerings. The plan includes term insurance benefits, critical illness coverage, and optional child care benefits, all designed to support women in achieving financial independence and stability across different life stages.

The Superwoman Term plan introduces a critical illness rider covering 60 significant illnesses, including specific conditions affecting women such as breast, cervix, and ovarian cancers. This feature aims to alleviate the financial burden during treatment periods. Additionally, the plan offers an optional child care benefit, ensuring a steady monthly income to support a child's education in the unfortunate event of the policyholder's demise.

In a bid to enhance overall well-being, the plan also provides complimentary Health Management Services (HMS). These services encompass health check-ups, outpatient department consultations, pregnancy-related support, emotional wellness programmes, and nutritionist guidance. This holistic approach underscores Bajaj Allianz Life's commitment to the broader well-being of women beyond mere financial security.

Tarun Chugh, Managing Director and CEO of Bajaj Allianz Life Insurance, stated: "The women of today are prioritising their health, children’s well-being, and financial independence. Providing them with a single financial solution to meet these key needs is our main goal with our latest solution – Bajaj Allianz Life Superwoman Term. It’s designed to empower women with the financial confidence as they march ahead to meet their own personal goals. The comprehensive solution can be customised to the varied needs of our women customers - from managing their own health needs or securing the future of their children or loved ones."

Bajaj Allianz Life Insurance, known for its innovative and customer-centric approach, reports a claim settlement ratio of 99.23% for individual death claims in FY 2023-2024, with a solvency ratio of 432% as of 31st March 2024. These figures reflect the company's strong financial health and commitment to reliability, reinforcing its position in the insurance sector with tailored solutions for diverse customer segments.