Bengaluru, July 14, 2026: Bajaj Life Insurance, one of India’s leading private life insurers, continues to strengthen its portfolio of customer-centric protection solutions with the Bajaj Life Family Protect Rider – Parental Care. This is a Non-linked, Non-participating, Individual, Pure Risk Health Rider. The rider is designed to help customers create a financial safety net for their parents and support their financial well-being in the face of life’s uncertainties.
In India, parents often remain financially dependent on their children, particularly during their retirement years. Recognising this reality, Bajaj Life Insurance offers the Family Protect Rider – Parental Care, which provides financial support to parents in the event of the death or Accidental Total Permanent Disability of the Life Assured.
Available with eligible life insurance plans, the rider is designed to offer both immediate financial assistance and long-term income support, helping parents maintain financial stability when they need it most.
Tarun Chugh, MD & CEO, Bajaj Life Insurance, said, “Protection planning in India extends beyond safeguarding one’s spouse and children. For many individuals, ensuring the financial well-being of their parents is an equally important responsibility. The Family Protect Rider – Parental Care strengthens our protection portfolio by enabling customers to create a dedicated financial safety net for their parents through a combination of immediate financial support and lifelong income benefits in the event of an unforeseen contingency.”
The rider can be opted for a single parent or both parents together. Upon the death or Accidental Total Permanent Disability of the Life Assured, the rider provides:
- An immediate lump-sum payout equal to 105% of the total rider premiums paid till date. • A monthly income benefit, ranging from 0.1% to 0.5% of the Rider Sum Assured as chosen at inception, payable to the surviving parent(s) for the rest of their lifetime.
The Family Protect Rider – Parental Care complements long-term life insurance protection by helping customers extend financial security to their parents and ensure continued support for their future needs.
About Bajaj Life Insurance
Bajaj Life Insurance Limited (formerly known as Bajaj Allianz Life Insurance Company Limited) is one of India’s leading and fastest growing private life insurers. In operation since 2001, it is a subsidiary of Bajaj Finserv Limited, one of India’s most diversified non-banking financial institutions. The Company continues its journey of enabling Life Goals through trusted insurance solutions and a strong financial foundation.
With innovation and a Customer First philosophy at its core, Bajaj Life delivers life insurance solutions that are inclusive, personalised, and relevant to evolving customer needs. By reimagining every touchpoint through a digital-first, customer focused approach, the Company continues to set new benchmarks in accessibility, simplicity, and trust. A strong focus on distribution excellence, service innovation, and future-ready capabilities powers its journey as a trusted Life Goals enabler across India.
Bajaj Life serves over 3.47 crore individual and group customers through a robust distribution network of 598 branches, over 1.61 lakh insurance consultants* and its proprietary sales channels (online and offline). As of 31 May 2026, the company manages Assets Under Management (AUM) of over ₹1.40 lakh crore*. Bajaj Life has an Individual Claim Settlement Ratio of 99.33% (FY 2025–26) and maintains a strong Solvency Ratio of 266% (as on 31 March 2026)
