Term Insurance: Bajaj Allianz iSecure Term Plan

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Bajaj Allianz Life Insurance Term Insurance - iSecure Buy term insurance online with Bajaj Allianz iSecure. iSecure term Insurance plans will help you secure your family's financial future at affordable costs. Category: Term Insurance
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A Term Insurance Plan that secures your family's financial needs with high sum assured for low cost...  Learn More

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Why iSecure as a Term Insurance Plan?

You have always tried your best to fulfill all your responsibilities and take care of your family. However, life comes with risks and unforeseen incidents that can put your family's financial security in jeopardy. Have you thought about a secure term insurance plan?

Presenting the Bajaj Allianz iSecure Insurance Plan; a level cover term assurance plan that secures your family's financial needs by giving you a level term cover for high sum assured, but at a low cost.

What is Term 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After this policy term expires the term insurance cover is no longer valid.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.

Types of Term Insurances

There are two kinds of term insurance Plans:

  • Annual Renewable Term Insurance Plan which gives cover for one year at a time and then you renew it annually. These plans usually have the lowest annual premium to start but the premium rises as you age.
  • Level Premium Term Insurance Plan which you buy for a specific multiyear period such as 5, 10 or 20 years. This plan lets you lock in the premium for that period; the premium never to changes, from the first year to the last.

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That's not all
Term insurance policy | Key Features

  • Term insurance policy gives tax benefits. You receive tax exemption as per 80C and 10(10D)* of the Indian Income Tax Act.
  • Get the advantage of a level term insurance cover at low cost, especially for larger sum assured.
  • Term insurance companies reward the insured people for maintaining a healthy life-style, if applicable, with special premium rates for non-smokers and medically fit non-smokers.
  • Benefit of attractive high sum assured rebate.
  • Your nominee will have the option to take the death benefit in equal monthly installments over a period of 5 or 10 years.
  • Select your policy term of 10, 15, 20, 25 or 30 years depending on your requirement.
  • Alter your term insurance premium payment frequency.
  • Include your spouse at a later date in your existing policy, if you are single at present.
  • Plan to meet recurring expenses of your loved ones by opting for payment of benefit in annual installments.

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How does the Bajaj Allianz iSecure Term Insurance Plan Work?

Bajaj Allianz iSecure places itself as one of the safest term insurance plans in India. It offers you the choice to cover your spouse as well jointly with yourself. You can customize your term insurance policy to suit your requirements by following the steps as follows:

  • Step 1 : Choose either individual or a joint life term insurance cover
  • Step 2 : Choose your sum assured(s) (Life Cover)
  • Step 3 : Choose your policy term & premium payment frequency
  • Step 4 : If sum assured chosen is Rs.20,00,000 & above, you may choose your lifestyle category either "Non-Smoker1" or "Smoker1"

Your term insurance premium will be based on your current age(s), sum assured(s), lifestyle category (if applicable), policy term and premium payment frequency.

In case of unfortunate demise, the dependents will receive the death benefit as promised by the term insurance company.

This categorization is available for sum assureds of Rs.20,00,000 & above and subject to medical examination/tests as decided by the term insurance company.

A Non-smoker who has no abnormalities in his medical examination/tests or family/personal history; has no risky avocation and does not have a risky occupation, as decided by the Company, is classified as a Preferred Non-Smoker.

Term Insurance Product FAQ's

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Term insurance Policy | Benefits and Features
What's in it for you

Tax Benefits

  • Premiums paid are eligible for tax benefits as per Section 80C of the Income Tax Act
  • Death benefit(s) are eligible for tax benefits as per Section 10 (10D) of the Income Tax Act.

Subject to the provision stated therein.

Death Benefit

A. Individual Life
  • In case of unfortunate death of life assured during the policy term, provided all premiums are paid up to date, the benefit will be Sum Assured
  • The policy cover will terminate immediately on death of the life assured
B. Joint Life
  • The death benefit is payable on death of each life, provided the policy is in-force. The benefit payable will be Sum Assured
  • On death of any one of the life assureds, the term insurance policy will automatically continue on the surviving life assured with a reduced premium. The reduced premium will be based on the age, lifestyle category (if applicable), policy term, premium payment frequency and sum assured of the surviving life assured as at the inception of the policy
  • This term insurance policy cover will terminate immediately on death of the surviving life assured

Understand Better
Sample Illustration

Jai aged 30 has opted for iSecure for a policy term of 20 years. The Sum Assured chosen by him is Rs.1,00,00,000 for which he is paying an annual premium of Rs.10,465 after a high sum assured rebate of Rs.5,635

Sample Illustration

In case of unfortunate death of Jai at 7th policy year, benefits received by the nominee will be the sum assured of Rs. 1,00,00,000

Premium shown are for a non-smoker male life exclusive of service tax and Edu.Cess

Term Insurance

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Term Insurance

Insurance, as the name suggests, provides assurance of payment of a fixed sum of money in the event of unexpected loss against payment of a predictable sum of money, known as premium.
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Eligibility Criteria

Parameter Eligibility
Minimum Entry Age 18 years
Maximum Entry Age 60 years
Minimum Sum Assured Rs.250,000 for general category and
Rs.20,00,000 for the categories split by Preferred Non-Smoker1 , Non-Smoker1 & Smoker
Maximum Sum Assured No Limit
Policy Term 10, 15, 20, 25 & 30 years
Minimum Installment Premium
Sum Assured Yearly Half-Yearly Quarterly Monthly*
Less than Rs.2,000,000 Rs.1000 Rs.500 Rs.250 Rs.100
Greater than or equal to Rs.2,000,000 Rs.3000 Rs.1500 Rs.750 Rs.250
Minimum Maturity Age 28 years
Maximum Maturity Age 70 years

* For monthly installment, three (3) installments need to be paid at the inception of the policy.

Bajaj Allianz iSecure (UIN:116N109V02)
For more details, please refer to the Brochure and Policy Document

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Disclaimer: I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) under either Fully or Partially Blocked category, any call made or SMS sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business.
Insurance is the subject of the solicitation. For more details about risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. The terms and conditions of product/plan as contained in the Policy Document issued by the Company is available on the Web Site. Please note that the name of the Bajaj Allianz product/plan does not indicate the quality of the insurance contract and its future prospects or returns. Investment in ULIPs is subject to market risks associated with capital markets. IN ULIPs, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. Tax benefits are as per the prevailing Income Tax Laws including the Income Tax Act, 1961 and are subject to change from time to time. Service tax and education cess will have to be borne by the Policyholder as per applicable rates. All other charges shall be levied in accordance with the terms and conditions of the policy.

The returns as indicated in the Sales Illustration are only illustrative and they are not guaranteed. The illustrative returns do not indicate the upper or lower limits of the return that you may get with your policy and the value is dependent on a number of factors including future performance.

The results displayed in the calculators are based on certain assumptions about the rates of return. Kindly note that the returns are only illustrative and they are not guaranteed. The returns do not indicate the upper or lower limits of the return that you may get with your policy and the value is dependent on a number of factors including future performance.