Bajaj Allianz vs DHFL Pramerica
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Bajaj Allianz Life vs DHFL Pramerica Life Insurance 2024

Bajaj Allianz and DHFL Pramerica both are one of the top life insurance providers in India. Both the companies offer comprehensive life insurance plans offering life cover from 10 to 99 years of age. The product portfolio of both of them is vast and caters to unique needs of the customers. The claim settlement ratio of Bajaj Allianz is 99.02% whereas DHFL Pramerica has 98.3% CSR for the FY 2022-23. The companies provide benefits such as high sum assured, flexible premiums, customizable coverage, rider benefits, options for premium payment terms, maturity benefits, online discounts, non-smoker discounts and various plan options to choose from.

PLAN DETAILS Edit Bajaj Allianz

Bajaj Allianz

 Edit pramerica-life

DHFL Pramerica
Number of life insurance plans and add-ons
Entry Age (Min-Max) 18-60 years 18-60 years
Policy Term 10-30 years 7-40 years
maturity Age (Min-Max) 28-75 years 18-75 years
Claim settlement ratio (CSR) 99.02% 98.3%
Asset under managment (AUM) 100000 Crores 7000 Crores
Solvency ratio 6.1 4
Policy Type
  • Term insurance
  • Whole life policy
  • Endowment policy
  • ULIP
  • Money back policy
  • Retirement plans
  • Savings plans
  • Child plans
  • Group Insurance plan
  • Term insurance
  • Endowment policy
  • ULIP
  • Retirement plans
  • Savings plans
  • Child plans
  • Group Insurance plan
Coverage Amount
  • Minimum- 20 Lakh
  • Maximum- No Limit
  • Minimum- 25 Lakh
  • Maximum- No Limit
Optional Additional Riders
  • Accidental death benefit rider
  • Accidental total and permanent disability rider
  • Critical illness rider
  • Waiver of premium
  • Accidental death benefit rider
  • Accidental total and permanent disability rider
  • Critical illness rider
  • Waiver of premium
Number of term plans 5 3
Exclusions Suicide or self inflicted Injury Suicide or self inflicted Injury
Death Benefit Yes Yes
Survival Benefit Yes Yes
Claims procedure Both (Online+offline) Both (Online+offline)
Type of the insurer Private Private
Online buying facility for life plans Yes Yes
Premium payment options Single/limited/Regular Single/limited/Regular
Online claim facility Yes Yes

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Bajaj Allianz Term Insurance Plans

Bajaj Allianz Life Saral Jeevan Bima

A simple easy to understand pure protection term plan which comes in affordable premiums and provides death benefit to the family of the policyholder.

Unique Features

  • Future Proofing Benefit
  • 100 % Death Benefit
  • Max Sum Assured 25 Lakh

Saral Jeevan Bima (Pros)

  • Spouse Cover
  • Max Sum Assured 25 Lakh
  • Available for Online Buying

Saral Jeevan Bima (Cons)

  • No Survival Benefit
  • No Surrender Benefit
  • No Maturity Benefit

Saral Jeevan Bima (Other Benefits)

  • Avail Tax Benefits
  • Easy Claim Settlement Process
  • Flexible-Premium Payment term

Saral Jeevan Bima (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 5L
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP (5&10 Years)

Bajaj Allianz Life eTouch Online Term

The plan provides pure term and health coverage, providing whole life cover and accidental total permanent disability.

Unique Features

  • Waiver of Premium(WOP)
  • Accelerated Critical Illness(ACI)
  • 4 variants

eTouch Online Term (Pros)

  • Shield
  • Shied Plus
  • Shield Supreme

eTouch Online Term (Cons)

  • No Loans Allowed
  • No Surrender Benefit
  • No Maturity Benefit

eTouch Online Term (Other Benefits)

  • Max Sum Assured 2 Cr
  • Sheild Super
  • High Sum Assured Rebate (HSAR)

eTouch Online Term (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 50 L
  • Maximum Maturity Age - 75 Yrs
  • Premium Payment Term - 10 to 40 Yrs

Bajaj Allianz iSecure Plan

A comprehensive term life insurance plan that offers level life cover at an affordable cost.

Unique Features

  • Joint Life Cover Option
  • Non-Smokers Discount
  • Flexible Premium Payment

iSecure Plan (Pros)

  • No Suicide Cover
  • Healthy Lifestyle Incentives
  • Customizable Options

iSecure Plan (Cons)

  • No Maturity Benefit
  • Limited Rider Options
  • Limited Availability for POS Channel

iSecure Plan (Other Benefits)

  • Tax Benefits
  • Premium Payment Options
  • High Sum Assured Rebate (HSAR)

iSecure Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 2.5 L
  • Maximum Maturity Age - 85 Yrs
  • Premium Payment Term - 10 to 25 Yrs

Bajaj Allianz Life Smart Protection Goal

The comprehensive plan offers death coverage, accidental death coverage, Cancer cover benefits, and Waiver of Premium on Critical Illness Benefits.

Unique Features

  • (ROP) as Maturity Benefit
  • Whole Life cover
  • Waiver of Premium Benefit

Smart Protection Goal (Pros)

  • Critical Illness Benefit
  • Accidental Death Benefit (ADB)
  • Accidental Total Permanent Disability Benefit

Smart Protection Goal (Cons)

  • No Loans Allowed
  • 180 Days WP For Critical Illness
  • No Rebate for SA above 3 cr

Smart Protection Goal (Other Benefits)

  • Suicide Cover After 12 Months
  • Female Life Rebate
  • High Sum Assured Rebate (HSAR)

Smart Protection Goal (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Min Sum Assured - 5 L
  • Max Maturity Age - 75 Yrs(ROP)
  • Premium Payment Term - RP/SP/LP

Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c

A pure-risk life insurance plan designed exclusively for Type 2 diabetics with HbA1c level <=8% and pre-diabetics.

Unique Features

  • Diabetics & Pre-Diabetics Cover
  • 'Keep Fit' Benefit
  • Health Management Services

Diabetic Term Plan Sub 8 HbA1c (Pros)

  • Premium Reduction on Renewal
  • Good Health Premium Discounts
  • Health Management Services.

Diabetic Term Plan Sub 8 HbA1c (Cons)

  • No Maturity Benefit
  • No Surrender Value
  • Limited Coverage With Hba1c Level Above 8%

Diabetic Term Plan Sub 8 HbA1c (Other Benefits)

  • Tax Benefits Available
  • Flexible Sum Assured Options
  • Multiple Premium Payment Frequencies

Diabetic Term Plan Sub 8 HbA1c (Eligibility Criteria)

  • Entry Age -30 Years
  • Max Entry Age- 6 Years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 75 Yrs
  • Premium Payment Term - LP

Bajaj Allianz iSecure More

An increasing life cover term plan which comes with rebates on sum assured. Gives the option of payout in instalments.

Unique Features

  • Spouse Cover
  • 5% Increase SI Annually
  • Death Benefit

iSecure More (Pros)

  • Convert to Joint Life Cover
  • Enhanced Cover with Riders
  • Option for Disbursement In Monthly Installments

iSecure More (Cons)

  • No Loans Allowed
  • No Surrender Benefit
  • No Maturity Benefit

iSecure More (Other Benefits)

  • Tax Benefit
  • Premium Payment Options
  • High Sum Assured Rebate (HSAR)

iSecure More (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 60 Years
  • Minimum Sum Assured - 2.5 L
  • Maximum Maturity Age - 70 Yrs
  • Premium Payment Term - 10, 15, 20 & 25 years

Bajaj Allianz iSecure Loan

A pure protection loan repayment term plan which comes with riders, tax benefits and limited premium payment term.

Unique Features

  • Death Benefit
  • Flexible Loan Rates
  • Flexible policy Term

iSecure Loan (Pros)

  • Suicide Cover
  • Tax benefits
  • Policy Revival within 5 Years

iSecure Loan (Cons)

  • No Survival Benefit
  • No Surrender Benefit
  • No Discount Benefit

iSecure Loan (Other Benefits)

  • Accidental Death Benefit Rider
  • Waiver of Premium Benefit Rider
  • Accidental Permanent Total/Partial Disability Rider

iSecure Loan (Eligibility Criteria)

  • Entry Age -25 Years
  • Max Entry Age- 60 Years
  • Minimum Sum Assured - 3 L
  • Maximum Maturity Age - 65 Yrs
  • Premium Payment Term - 10, 15, 20 & 25 years

Bajaj Allianz Life Secure

A pure term plan that comes with female discounts, death benefit and a high sum assured for more protection.

Unique Features

  • Three Coverage Options
  • 100 Years Life Cover
  • 4 Premium Payment Terms

Life Secure (Pros)

  • Surrender Benefit
  • Suicide Cover
  • Choose your Sum Assured

Life Secure (Cons)

  • No Survival Benefit
  • No Thyroid Cancer Cover
  • No Maturity Benefit

Life Secure (Other Benefits)

  • Death Benefit
  • Accelerated Critical Illness
  • Waiver of premium Benefit

Life Secure (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 20 L
  • Maximum Maturity Age - NA
  • Premium Payment Term - 5, 7, 10 and 15 years

Bajaj Allianz LifeStyle Secure

A pure-risk plan that provides level cover term assurance and accelerated terminal illness benefit. The plans gives an option of regular income or lump sum.

Unique Features

  • Rebate on high sum assured
  • Discounts for Female
  • No Medical Examination

LifeStyle Secure (Pros)

  • Family Cover
  • Choose your Policy Term (PT)
  • Inbuilt Accelerated Terminal Illness

LifeStyle Secure (Cons)

  • No Loans Allowed
  • No Surrender Benefit
  • No Maturity Benefit

LifeStyle Secure (Other Benefits)

  • Suicide Cover
  • Easy Claim Settlement
  • Policy revival Within 5 Years

LifeStyle Secure (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 50 Years
  • Minimum Sum Assured - 3L
  • Maximum Maturity Age - 60 Years
  • Premium Payment Term - 5/ 7/ 10/ 15/ 20 Yrs

Pramerica Term Insurance Plans

Pramerica Life Saral Jeevan Bima

A non-linked, non-participating individual pure risk premium insurance plan providing financial protection to you and your family.

Unique Features

  • Future Proofing Benefit
  • 105 % Death Benefit
  • Max Sum Assured 25 Lakh

Saral Jeevan Bima (Pros)

  • Available For Online Buying
  • Convenient Premium Payment
  • Policy Payment Term 5 To 40 Years

Saral Jeevan Bima (Cons)

  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

Saral Jeevan Bima (Other Benefits)

  • Easy Claim Settlement Process
  • Avail Tax Benefits
  • Family Cover

Saral Jeevan Bima (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 5 L
  • Maximum Maturity Age - 70 Yrs
  • Premium Payment Term - RP/SP/LP(5&10 Years)

Pramerica Life TruShield

A plan designed especially to provide pure insurance cover along with a return of premium on maturity for the benefit of your loved ones.

Unique Features

  • Death Benefit Options
  • Maturity Benefit
  • Flexible-Premium Payment

Pramerica Life TruShield (Pros)

  • Additional Shield Cover
  • Spouse Cover
  • Return of Premium

Pramerica Life TruShield (Cons)

  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

Pramerica Life TruShield (Other Benefits)

  • Max Sum Assured 50 cr
  • Avail Tax Benefits
  • Family Cover

Pramerica Life TruShield (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 45 years
  • Minimum Sum Assured - 5 L
  • Maximum Maturity Age - 65 Yrs
  • Premium Payment Term - RP/SP/LP(5&10 Years)

Pramerica Life U-Protect

Pramerica Life U-Protect is a plan designed that ensures cover for the benefit of your loved ones at a very nominal cost.

Unique Features

  • An affordable plan
  • Attractive premium options.
  • special premiums for non smokers

Pramerica Life U-Protect (Pros)

  • Healthy Lifestyle Advantage
  • Flexible Policy Terms
  • No Cap on Max Sum Assured

Pramerica Life U-Protect (Cons)

  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

Pramerica Life U-Protect (Other Benefits)

  • Easy Claim Settlement Process
  • Avail Tax Benefits
  • Policy Revival at Every 5 Yrs

Pramerica Life U-Protect (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 55 years
  • Minimum Sum Assured - 25 Lakh
  • Maximum Maturity Age - 65 Yrs
  • Premium Payment Term - RP/SP/LP(5&10 Years)

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Naval Goel

Reviewed By: Naval Goel

Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.