Bajaj Term Insurance
Bajaj iSecure More by Bajaj Life Insurance is an increasing cover term ...Read More
A quick read on what this Bajaj Term Insurance term plan covers and why it might be a fit for you.
Bajaj iSecure More by Bajaj Life Insurance is an increasing cover term assurance plan. It offers a financial safety net to your loved ones in case of your unfortunate demise during the policy tenure. This plan allows you to increase your sum assured by 5% every policy year up to 200% of the sum assured. You can also get a discount on choosing a higher sum assured amount.
iSecure More Term Plan offers you various benefits including:
A quick honest summary — the strengths and the trade-offs.
Eligibility criteria pulled straight from the policy wording.
Let’s understand how Bajaj iSecure More works with a simple premium illustration.
Mr Shekhar, a 30-year-old male is looking for a term insurance policy that increases his coverage amount at various intervals during the policy tenure.
While looking for a plan that suits his requirements, he visited PolicyX.com and booked a free appointment. The insurance expert advised him to go for the iSecure More Plan.
He bought the Bajaj iSecure More Plan. Let’s understand how the iSecure More Term Plan works for him with a simple premium illustration table.
| Age of policyholder | Annual premiums | Policy tenure | Premium payment term | Total premiums paid | Sum assured |
| 30 years | Rs 6,840 | 20 years | 20 years | Rs 1,36,800 | Rs 25 lakhs |
Key Takeaways:
(i) In the case of Mr Shekhar’s unfortunate death during the policy tenure his family will receive death benefits worth Rs 25 lakhs.
You can choose the following rider options with your Bajaj iSecure More Plan to enhance your plan coverage.
Rider benefits are paid to the nominee in case of the policyholder’s unfortunate death due to an accident during the policy tenure.
In case of accidental permanent total/ partial disability, the applicable rider sum assured is paid to the policyholder.
This rider waives off all your future premiums in the following circumstances: (i) death (ii) diagnosis of any of the 11 critical illnesses mentioned in the rider brochure (iii) accidental permanent total disability
Key features that make Bajaj iSecure More stand out.
Option to Change Premium Payment Frequency
iSecure More Term Plan allows you to change the premium payment frequency during the policy tenure as per your requirements.
Spouse Coverage
This plan provides you the option to add a spouse at a later stage during the policy tenure. Your individual term policy will be converted into a spouse term plan.
Option to Recieve Death Benefits As Instalments
Your nominee has the option to receive death benefits in instalments for 5 or 10 years from the date of the policyholder’s death. The nominee has to inform same to the insurer at the time of filling death claim form.
Grace Period
Bajaj iSecure More offers a grace period in case you miss your premium payments to avoid penalties. For monthly premium payments, the grace period is 15 days, and for other frequencies, it’s 30 days.
Here are the key benefits of the Bajaj iSecure More.
Increasing Sum Assured Benefit
iSecure More Term Plan offers the benefit of increasing the sum assured by 5% every policy year up to a maximum of 200% of the basic sum assured amount.
Death Benefits
This plan offers financial security to your loved ones in case something happens to you. The death benefits paid are equal to the life coverage chosen at the start of the policy tenure.
High Sum AssuredDiscount
Bajaj iSecure More Term Plan offers you a discount if you choose a high sum assured of Rs 5 lakhs and more with this plan.
Choice of PolicyTenure
iSecure More Term Plan allows you to choose policy tenure from 10 to 25 years based on your financial requirements and goals.
Here is the list of exclusions associated with the plan:
Bajaj iSecure More is a pure protection plan that offers financial coverage to your loved ones in case of your uncertain death. You can enjoy various benefits with this plan including choice of policy tenure, increasing sum assured, high sum assured rebate, spouse coverage, etc.
If you are confused about whether Bajaj iSecure More is the right choice for you or not, you can contact us at PolicyX.com.
We offer No Spam, No Gimmicks, and Only Expert Insurance Advice so that you can always get the best. So what are you waiting for? Schedule a call with us today.
Bajaj iSecure More is a pure protection plan that offers financial coverage to your loved ones in ca
The 5 most-asked questions about Bajaj iSecure More, answered.
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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