Bajaj Allianz Life Insurance unveils ‘thumb rule’ of ‘10X’ for term insurance

New Delhi: Bajaj Allianz Life, one of India's private life insurers, unveiled a campaign aimed at addressing the issue of underinsurance. 

The cornerstone of this campaign is the 'Thumb Rule'—advising individuals to secure term insurance coverage that is at least 10 times their annual income. Shubman Gill, the cricketer, stepped into a new role to guide viewers through the essentials of term insurance.  

Commenting on the campaign launch, Chandramohan Mehra, Chief Marketing Officer, Bajaj Allianz Life, said, “Simplifying by dejargonising is one of the potent solutions to overcome the perceived complexity coupled with high customer inertia, a key challenge faced by insurance industry.  Lack of knowledge has been one of key barriers resulting in India’s high protection gap at 87%.  Our underinsurance educational initiative equips customers with right advisory to make sound decision, keeping in mind long term protection needs of the family.  Anchored on a thumb rule of 10x, we are confident that the initiative will aid easy comprehension and induce appropriate actionability."

Through a series of films, Bajaj Allianz Life highlights the importance of the 10X life cover guideline.