Bajaj Term Insurance
Bajaj Life iSecure is a flexible term insurance plan that you can avai ...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 plan 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.
Bajaj iSecure Plan offers you a range of benefits including:
A quick honest summary — the strengths and the trade-offs.
Eligibility criteria pulled straight from the policy wording.
Let's understand how the Bajaj iSecure Plan works with a simple premium illustration.
Mr. Verma is looking for a term plan that provides financial coverage to his family in case of his demise at affordable premiums and also let him add his wife in the same plan.
His financial advisor advised him to buy the Bajaj iSecure Term Plan. He visited PolicyX.com
Let's understand how the Bajaj iSecure Term Plan works for him with a premium illustration table.
| Age of policyholder | Annual premiums | Policy tenure | Premium payment term | Total premiums paid | Sum assured |
| 30 years | Rs 3,723 | 20 years | 20 years | Rs 74,460 | Rs 25 lakhs |
Key Takeaways: In case of Mr. Verma's demise during the policy tenure, Rs 25 lakhs will be paid to their nominee.
You can add the following riders to your Bajaj iSecure Term Plan:
In case of the policyholder’s demise due to the accident benefits are paid to their nominee.
Future premiums are waived off in case of the policyholder’s demise due to accidental death, disability, or any of the 11 critical illnesses mentioned.
Under the accidental disability rider ,benefits are offered in case of the policyholder’s disability or demise due to the accident.
Key features that make Bajaj iSecure plan stand out.
Policy loan
Under the Bajaj e-Touch Term Plan you cannot avail a loan against your policy.
Include your spouse at a later stage
Include your spouse at a later date in your existing policy, if you are single at present
Benefits in installments
Plan to meet the recurring expenses of your loved ones’ by opting for payment of benefits in installments
Affordable premiums
This rider offers financial benefits in case the policyholder becomes partially or totally disabled.
Choose the premium payment term at the start of the policy
You have to choose your premium payment tenure at the start of the policy and cannot be changed at a later stage.
Here are the key benefits of the Bajaj iSecure plan.
Lower premium ratesfor female lives
The plan offers up to 20% lower premium rates for its female policyholders. This discount is valid for all premium payment terms except pay till 60.
Lower premiums fornon-Smokers
Bajaj iSecure Term Plan offers lower premium rates for non-smokers; however, in accident cover and accelerated benefits, premium rates do not vary by smoker status.
No restrictions ontravel/occupation
The plan does not restrict travel anywhere in the world and future occupation changes; all eligible claims will be settled after submitting all the proper documents.
Tax benefits
Bajaj offers term insurance tax benefits under section 80C of the income tax act, 1961 for up to 1.5 lakhs of the total premium paid in the same financial year.
Terminal illnessbenefit
In case of diagnosis of the terminal illnesses, Bajaj will pay a part of the sum assured for the treatment of the illness and the remaining sum assured will be paid to the nominee.
Here is the exclusion associated with the plan:
Bajaj 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 maintaining healthy lifestyle, and tax benefits.
If you want to know more about the plan or any of the Bajaj term plans, you can contact policyX.com via calling on the number 1800 420 0269. Our insurance experts will listen to your unique requirements and suggest the best Bajaj term insurance plan for you.
The 6 most-asked questions about Bajaj iSecure plan, answered.
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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