Bajaj Allianz Life Insurance has unveiled a new term insurance plan designed specifically for women. Called the Superwoman Term (SWT), the plan combines life cover for various purposes. These include critical illness protection, optional child support, and health services under one umbrella, aiming to address the unique financial and health needs of women. The SWT plan offers traditional term insurance benefits. In the event of the policyholder’s death, the nominee receives a lump sum payout. The plan offers a financial safety cushion for dependents. It also helps parents secure their dependent's future in case of death. The plan includes an optional Critical Illnesses rider also covering 60 serious medical conditions. Additionally, it also includes coverage for women-specific illnesses such as breast, ovarian, and cervical cancers. This addition is aimed at easing the financial burden of medical treatments during critical times.
Bajaj Allianz Launches 'Superwoman Term' Plan With All-In-One Protection For Women
Bajaj Allianz has introduced a term plan for women to facilitate their All-in One protection and needs including securing future and critical illness cover related to women
Monthly Income for Child’s Future
A key feature of the plan is its optional Child Care Benefit. In case of an unfortunate event, this benefit ensures a regular monthly income to support the child’s education and living expenses. Bajaj Allianz says this is the first time it is offering such a provision.
Health Management Services Included
SWT goes beyond financial support by offering complimentary health services worth up to ₹36,500 annually. These include routine check-ups, outpatient consultations, maternity-related assistance, emotional wellness sessions, and access to nutritionists.
A Broader Approach to Protection
Commenting on the launch, Tarun Chugh, MD & CEO of Bajaj Allianz Life Insurance, said the plan is designed to match the evolving roles and needs of modern women. “Women are increasingly focused on their own well-being, their family’s future, and financial independence. Superwoman Term is a comprehensive solution created with these priorities in mind,” he said.The company reported a claim settlement ratio of 99.23 per cent and a strong solvency ratio of 432 per cent for the previous fiscal year.