Bajaj Allianz iSecure Loan

"Term plan that protects your loved ones against any type of mortgage"

Everyone takes loans from financial institutions or banks for buying a car, building a business, buying a home and so on. But, the important thing is how you manage to repay it. Till the time you are working and have a steady flow of income, rarely a problem arises when it comes to paying back the EMIs. But what if there is an unfortunate demise, in that case, the cost of these EMIs might be a huge concern for your dependents.

Do not fret! We have your back! We have got you a plan that covers you against death and at the same time reduces your loan as well. Yes, you heard it right! The plan we are talking about is the Bajaj Allianz iSecure Loan, a term plan that covers the loan amount in case of your unfortunate demise and reduces it as the policy moves forward.

Bajaj Allianz iSecure Loan is a pure protection mortgage cover term life insurance plan. With a flexible policy term and a minimum sum assured of 3 lacs, you can protect your loved ones till 60 years of age.

In this article, we will discuss everything about Bajaj Allianz iSecure Loan term Plan.

Bajaj Allianz iSecure Loan: Eligibility Criteria

Below are the eligibility criteria for the Bajaj Allianz iSecure Loan plan.

Bajaj Allianz iSecure Loan: Benefits

Below are the benefits available under the Bajaj Allianz iSecure Loan plan.

1. Death benefit

   Upon the unfortunate demise of the life insured during the policy term Bajaj Allianz iSecure Loan plan pays the death benefit as below:

   Individual Life	Joint Life
   The sum assured will be payable to the nominee in case of the date of the policyholder.	A death benefit is payable to the nominee, and the policy is still in force with a reduced premium.

2. Tax benefits

   All the premiums paid under the Bajaj Allianz iSecure Loan plan can be used as tax rebates under section 80C of the Income Tax Act 1961.

3. Reducing loan liabilities

   As you pay premiums and the policy continues, your loan amount reduces. The prevailing sum assured is paid upon the death of the life assured.

4. Premium discounts on high sums assured

   The plan offers premium discounts on choosing a sum assured of above 5 lacs. Given below are details of the premium discounts available:

   Sum assured available	Age band (Year)
   	18-30 Yrs	31-40 Yrs	41-50 Yrs	51-60 Yrs
   5,00,000 to 7,49,999	5.00%	5.00%	2.50%	2.50%
   7,50,000 to 9,99,999	10.00%	10.00%	5.00%	2.50%
   10,00,000 to 14,99,999	17.50%	12.50%	5.00%	5.00%
   15,00,000 to 29,99,999	25.00%	15.00%	7.50%	5.00%
   30,00,000 to 74,99,999	32.50%	17.50%	10.00%	5.00%
   75,00,000 & above	37.50%	20.00%	10.00%	7.50%