Context:
Bajaj Allianz Life Insurance has launched the Superwoman Term (SWT) Plan, a comprehensive term insurance policy tailored exclusively for women. The plan integrates term life coverage with additional health and child care benefits, aiming to address the unique needs of women across different life stages.
Key Features
Coverage Options
- Critical Illness Rider: Covers 60 illnesses, including breast, cervix, and ovarian cancers, providing financial support during medical treatment.
- Child Care Benefit: Optional rider that ensures monthly income for a child’s education if the policyholder passes away during the policy term.
Health Management Services (HMS)
Valued at ₹36,500 per year, these services include:
- Annual health check-ups
- Outpatient consultations (OPD)
- Pregnancy-related assistance
- Nutrition counselling
- Mental wellness support
Target Demographic
Designed specifically for female policyholders, the plan addresses multi-dimensional needs—from financial security to healthcare and parenting responsibilities.
Company Performance Metrics (as of March 31, 2024)
- Claim Settlement Ratio: 99.23%
- Solvency Ratio: 432%
- Assets Under Management (AUM): ₹1.18 lakh crore
- Customer Base: Over 3.93 crore lives covered
Strategic Intent
This product is part of Bajaj Allianz Life’s portfolio expansion into segment-specific term insurance, promoting inclusive financial products tailored to women’s evolving lifestyles.
