Buy or renew insurance online with Bajaj Allianz. Save more on life insurance, car insurance, term insurance, travel insurance, ULIP, health insurance. Term insurance is a life insurance which provides coverage for the policy term decided between the policy holder and insurer at the onset of the policy. After this policy term expires the term insurance cover is no longer valid. If the insured dies during this term, the death benefit is paid to the nominee. Thus, term insurance is the most basic, inexpensive and non-complicated insurance policy that you can purchase for your family security.