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Bajaj iSecure is a non-linked, non-participating plan that offers an advanced level of term insurance coverage at a low cost. The plan offers rewards for maintaining a healthy lifestyle and special premium rates for non-smokers and women. The policyholder gets the flexibility to select their policy terms, and premium payment frequency and can even add a spouse later during the policy term. To meet the financial changes in life the plan offers an option of opting for payment of benefits in installments and adding a rider for extra coverage. Let us explore the iSecure plan in this article.
The insured has to fulfill the following eligibility criteria to buy this plan:
Parameters | Eligibility | |||||||||||||||||||||
Minimum Age At Entry | 18 Years | |||||||||||||||||||||
Maximum Age At Entry | 65 Years | |||||||||||||||||||||
Minimum Sum assured | Rs 25,00,000 | |||||||||||||||||||||
Maximum Sum Assured | Rs 50,00,000 | |||||||||||||||||||||
Premium Payment Term (PPT) & Policy Term(PT) |
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Minimum Installments Premium |
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Minimum Maturity Age | 28 Years | |||||||||||||||||||||
Maximum Maturity Age | 85 Years |
The policy offers a plethora of benefits that are mentioned below:
Individual Life Cover | Joint Life |
---|---|
105% of the Sum assured Paid to the nominee. | 105% of the Sum assured is paid. On the death of any of the members the benefit will be paid, and the policy will still remain in force with reduced premium. |
The plan has a few limitations that are mentioned below:
Here is the premium table:
Limited Category | Premium Payment Term and Policy Term (in Years) | ||||
---|---|---|---|---|---|
10 | 15 | 20 | 25Â | 30 | |
Smokers | 2,803 | 3,973 | 4,266 | 4,753 | 5,387 |
Non Smokers | 3,469 | 3,561 | 3,723 | 4,047 | 4,486 |
Preferred Non-Smokers | 3,285 | 3,353 | 3,488 | 3,780 | 4,208 |
Bajaj Allianz iSecure Term Plan is a pure term plan that offers life insurance cover at nominal costs and enables the nominee of the policyholder to receive a death benefit in installments. It is a simple plan with 2 premium payment options, high sum assured discounts, life cover for the spouse, discounts for mining health lifestyle, and tax benefits.
To secure your family's needs, Bajaj Allianz offers 8-term insurance plans via online and offline channels, from which you can choose a well-suited plan for yourself.
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The plan offers a grace period of 30 days.
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The plan offers a policy revival period of 5 years.
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Daina is a content writеr with a profound grasp of Insurancе, Stocks, and Businеss domains. Hеr extensive 3-year еxpеriеncе in thе insurancе industry еquips hеr with a nuancеd undеrstanding of its intricaciеs. Hеr skills еxtеnd to crafting blogs, articlеs, social mеdia copiеs, vidеo scripts, and wеbsitе content. Her ability to simplify complex insurancе concepts into reader-friendly content makes her an еxpеrt in the domain.
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