Bajaj Life term insurance premium for ₹1 crore
Bajaj Life eTouch II costs a 30-year-old non-smoker ₹10,299 a year for ₹1 crore of cover to age 60, as quoted on 24 October 2026, and a smoker ₹18,293. That made it the cheapest of the four big term plans we priced at 30, but only by ₹232 a year over the next one.
Written by Kshitij JainReviewed by Harsh SoniUpdated nyvo insurance Services LLP, IRDAI Corporate Agent (Composite) CA1085Salaried advisors, no commission-based ranking
How much is Bajaj Life eTouch II at each age?
Life Shield, the pure-cover variant: ₹1 crore to age 60, regular pay. The yearly premium from year two on:
| Age at purchase | Non-smoker | Smoker |
|---|---|---|
| 25 | ₹8,986 | ₹16,330 |
| 30 | ₹10,299 | ₹18,293 |
| 35 | ₹12,630 | ₹21,955 |
| 40 | ₹17,034 | ₹29,043 |
| 45 | ₹24,737 | ₹41,410 |
| 50 | ₹34,242 | ₹56,809 |
Insurer premiums for Bajaj Life eTouch II (UIN 116N198V10). Profile: a man, ₹1 crore of cover to age 60, regular pay, yearly mode, no riders, no diabetes, salaried graduate earning ₹15 lakh a year, Mumbai pincode 400001. Bajaj's quote also asked two more questions: we answered first-time buyer of individual life cover, and not an existing Bajaj Life customer. No GST is added to individual life cover. Premiums quoted on 24 October 2026 for the profile above; your quote depends on your age, health, city and the options you choose.
The first year is cheaper because the quote stacked three first-year discounts: a digital discount of up to 6%, up to 5% for a first-time buyer and up to 5% for a salaried buyer. Our 30-year-old non-smoker pays ₹8,737 in year one and ₹10,299 from year two, the figure in the table. You get the digital discount when you buy through nyvo too.
Want this priced for your own age and health?
The table is one profile. An advisor can quote eTouch II against the other plans for your exact age, income and medical history, and tell you which riders are worth the money.
Talk to an advisor →What does the eTouch II premium cover?
The price is for Life Shield. It pays a terminal illness early, up to ₹2 crore, and if an accident leaves you totally and permanently disabled, your future premiums are waived for good at no extra cost. The other three plans here sell a premium waiver as a paid rider.
Two options are chosen at purchase, and you can have only one: Premium Holiday, which lets you skip one to three years of premiums on terms of 20 years or more, or Life Stage Upgrade, which raises cover on marriage, a child, a home loan or an education loan before 45.
Is Bajaj Life the cheapest term plan for ₹1 crore?
At five of the six ages we priced, yes. The exception was 45, where HDFC Life Click 2 Protect Supreme Plus and ICICI Pru iProtect Smart Plus both came in a little lower. The margins are small: at 30 the next plan was ₹232 a year dearer.
| Plan | Non-smoker, 30 | Smoker, 30 |
|---|---|---|
| Bajaj Life eTouch II | ₹10,299 | ₹18,293 |
| HDFC Life Click 2 Protect Supreme Plus | ₹10,531 | ₹18,430 |
| Axis Max Life Smart Term Plan Plus | ₹10,616 | ₹19,109 |
| ICICI Pru iProtect Smart Plus | ₹10,854 | ₹18,453 |
Same profile and terms as the table above, all four quoted the same day. The full ₹1 crore comparison is in our best term plan for ₹1 crore guide.
What pushes an eTouch II premium up?
Smoking
Bajaj asks whether you have smoked in the last 12 months. A smoker of 30 was quoted ₹18,293, 1.8 times the non-smoker rate, and ₹56,809 at 50, the lowest smoker price of the four at that age. Our guide on smoker rates and medicals covers what to declare.
Age
₹8,986 at 25 becomes ₹17,034 at 40 and ₹34,242 at 50. The rate you lock in at the start does not rise as you get older.
Paying for fewer years
Fifteen years of payments was ₹16,515 a year, twelve ₹19,746, ten ₹21,119 and five ₹40,458. Limited pay also opens cover to 99 on Life Shield. Our limited pay vs regular pay guide explains the trade-off.
Cover to 70
₹12,928 a year at 30, against ₹10,299 for cover to 60. Our note on choosing the policy term helps you decide.
Monthly mode
₹901 a month comes to ₹10,812 a year, ₹513 more than one yearly payment.
Women
A woman of 30 was quoted ₹9,087, 12% below a man. That is a smaller gap than on the other three plans, where women paid about 15% less.
Your health and the insurer's checks
The quote asks about diabetes, income, education, whether you are salaried, your pincode, whether this is your first life policy and whether you already hold a Bajaj Life policy before it shows a price, and we kept all of these fixed. Bajaj Life sets the final premium only after its own underwriting, so what your medical reports and declarations show can add a loading or change the offer.
What riders does Bajaj Life sell with eTouch II?
On Life Shield, terminal illness cover and a premium waiver on accidental disability come built in. The paid riders below are priced on their own cover amounts; we did not price them for this page.
- New Critical Illness Benefit. A lump sum on the first diagnosis of a listed condition, in a 10, 25 or 60-illness option. Nothing is paid inside 90 days of cover starting, or if you do not survive 14 days from diagnosis.
- Accidental Death Benefit II. Pays the rider cover on top of the death benefit when death follows an accident within 180 days. Capped at three times the base death benefit.
- Accidental Permanent Total / Partial Disability Benefit II. Pays all or part of the rider cover if an accident leaves you permanently disabled.
Which of these are worth paying for is in our guides to term insurance riders and the waiver of premium rider.
What could make eTouch II the wrong choice?
On Life Shield bought on regular pay there is no surrender value at any point: stop paying and the cover simply ends, with nothing back. How your family is paid is fixed at purchase too, and turning a monthly income into a lump sum later costs them money. The minimum cover is ₹50 lakh, so it can't be used as a small top-up over an existing policy.
Bajaj Life premium, questions answered
Is Bajaj Life eTouch II the cheapest of the big term plans?
Yes at 25, 30, 35, 40 and 50, not at every age. We priced four plans for ₹1 crore to 60 on the same day. It was never the dearest of the four. At 30 a non-smoker pays ₹10,299, the lowest of the four. The gaps are small, so weigh how each plan pays out and how the insurer handles claims before price.
Is Bajaj Life eTouch II cheaper for a woman?
Yes, but by less than on the other plans. A 30-year-old woman with the same profile was quoted ₹9,087 a year for ₹1 crore to 60, against ₹10,299 for a man, both from the second year. Her first year was lower again because of the same first-year discounts.
Why is the first year of Bajaj Life eTouch II cheaper?
Because three discounts apply to the first year only: a digital discount of up to 6%, up to 5% for a first-time buyer of life cover and up to 5% for a salaried buyer. For our 30-year-old that made year one ₹8,737 against ₹10,299 from year two.
Does the Bajaj Life premium include GST?
No GST is added. Individual life insurance has been exempt from GST since 22 September 2025, under CBIC Notification 16/2025-Central Tax (Rate) of 17 September 2025, and every quote on this page carried no tax. Group cover, such as a policy from your employer, still carries 18% GST.
Sources
- Insurer premium quotes for Bajaj Life eTouch II (UIN 116N198V10), 24 October 2026, 18:03:21 to 18:04:07 IST: a man aged 25 to 50, non-smoker and smoker, ₹1 crore to age 60, regular pay, yearly mode, no riders, no diabetes, salaried graduate, ₹15 lakh income, pincode 400001.
- eTouch II sales literature, UIN 116N198V10 (bajajlifeinsurance.com), read 24 October 2026
- eTouch II policy document, UIN 116N198V10 (bajajlifeinsurance.com), read 24 October 2026
- GST exemption for individual life and health insurance, Department of Financial Services (CBIC Notification 16/2025-Central Tax (Rate), 17 September 2025), read 24 October 2026
A premium table cannot tell you how much cover your family needs or which plan pays out more reliably. We can, on a free call with a salaried advisor.
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