Bajaj Allianz iSecure Online is a non-participating, non-linked, regular premium, level term assurance plan. The plan secures your family's financial security by providing you a level term cover for high sum assured at a low cost. With the help of Bajaj Allianz iSecure insurance plan, you can cover both your spouse and yourself. What’s more you can personalize your term insurance policy by choosing either an Individual or joint , zeroing in on a suitable sum assured, policy term and premium payment frequency. Also, if the sum assured opted is Rs.20,00,000 or above, you can opt for either ‘non-smoker1’ or ‘smoker1’. However, the premium charged on your policy will depend on your current age, sum assured, lifestyle category, policy term and premium payment frequency.
On Bajaj Allianz Official Website
Updated: 20-05-2024 03:46:07 PM
The eligibility criteria for acquiring the plan are listed in the table below:
| Minimum Entry Age | 18 years |
| Maximum Entry Age | 60 years |
| Minimum Maturity Age | 28 years |
| Maximum Maturity Age | 70 years |
| Documentation |
|
The eligibility criteria for acquiring the plan are listed in the table below:
| Minimum Entry Age | 18 years |
| Maximum Entry Age | 60 years |
| Minimum Maturity Age | 28 years |
| Maximum Maturity Age | 70 years |
| Documentation |
|
Some of the salient features of isecure Insurance Term Plan are listed in the table below:
| Minimum Sum Assured | Rs.2,50,000 (general category) and Rs.20 lakh for preferred non-smoker, non-smoker and smoker | ||||||||||||
| Maximum Sum Assured | No limit | ||||||||||||
| Policy Term | 10, 15, 20, 25 and 30 years | ||||||||||||
| Minimum Installment Premium |
|
||||||||||||
| Individual or joint policy | If the customer was not married at the time of buying the policy, he or she can include the spouse at a later stage in the existing policy | ||||||||||||
| Premium payment | Customers can change their premium payment frequency during the policy term | ||||||||||||
| Benefit installments | Nominee has the option to receive the death benefit in equal monthly instalments for 5 to 10 years | ||||||||||||
| Grace Period | 30 days | ||||||||||||
| Free look period | 15 days |
Benefits of Bajaj isecure Insurance Term Plan are listed in the table below:
Death Benefit |
Individual policy
Joint policy
|
|||||||||||||||||||
| Premium Rates | Customers can avail of separate rates for sum assured less than Rs. 20 lakh and Rs. 20 lakh and above as shown in the table below: | |||||||||||||||||||
|
||||||||||||||||||||
| Premium Rebates |
|
|||||||||||||||||||
| Maturity Benefit | No maturity benefit is payable under this plan | |||||||||||||||||||
| Survival Benefit | No surrender benefit is payable under this plan | |||||||||||||||||||
| Tax Benefits | Premiums are eligible for tax benefits under section 80C of IT Act
Death benefit is eligible for tax benefits under section 10 (10D) of IT Act. |
|||||||||||||||||||
If the life insured or the second life insured (joint life policy) ends life (sane or insane) within one year of the commencement of the policy or the last date of the revival of policy, the policy will be terminated by paying an amount equal to 80% of the premiums paid till the date of death (not the intimation of the date of death).
