Bajaj Allianz Life Secure Plan
  • 3 Plan Options
  • Critical Illness Benefit
  • Waiver Of Premium
Bajaj Allianz Term Insurance
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Bajaj Allianz Life Secure Term Plan

Bajaj Allianz Life Secure is an advanced term insurance plan that offers protection till your 100th birthday. This plan is a non-linked and non-participating individual, life, limited premium payment whole life-saving plan. Life Secure Plan offers flexible premium payment terms with a plan customization option. A whole life plan that offers term cover with 3 plan options comprehensively covering accidental death, and critical illness depending on the policyholder's choice Here are the plan options:

Plan Option

Coverage

Plan Option 1 Death Benefit
Plan Option 2 Death Benefit + Accidental Death Benefit
Plan Option 3 Death Benefit + Accidental Death Benefit + Waiver Of Premium Benefit

Let's explore more about the plan in the later sections.

Eligibility Table of Bajaj Allianz Life Secure Term Policy

If a person wishes to buy this plan he/she has to fulfil the following eligibility criteria:

Parameter

Details

Minimum Entry Age 25 Years
Maximum Entry Age Coverage Option 1 & 2: 55 Years
Coverage Option 3: 50 Years
Policy Term (100 minus entry age) years
Premium Paying Term 5,7, 10 and 15 years
Minimum Premium
Installments Yearly Half-yearly Quarterly Monthly
Rs 36,720 18,727 9,547 3,305
Maximum Premium No Limit
Maximum Sum Assured Rs 20,00,000
Premium Payment Frequencies Yearly, Half Yearly, Quarterly, Monthly

Read more specifications in the brochure.

Key Advantage of Bajaj Allianz Life Secure Term Policy

The plan offers a bounty of pros that are mentioned below:

  • The plan offers 3 plan options that offer comprehensive coverage with a waiver of premium benefits.
  • Life Secure provides 'Life Cover' up to the age of 100 years.
  • The plan gives the choice to the policyholder to select from the 4 Premium Payment Term, viz 5,7,10,15 years.
  • The plan offers a High Sum Assured Rebate.
  • Bajaj Life Secure grants attractive premium rates for female lives.
  • This is a dynamic plan that offers many customization options such as choosing between sum assured, and premium payment terms that suit the policyholder's needs.

Benefits of Bajaj Allianz Life Secure Term Policy

The plan offers ample benefits that are mentioned below:

  • Death Benefit
    In case of the policyholder's demise, the plan offers death benefit as a lump sum payout to the nominee. The benefit payable will be based on the plan option chosen by the insured at the policy inception. The following table will give a gist of the benefits paid:

    Plan Option

    Benefit Paid

    Plan Option 1 Only Death Benefit will be payable which is 105% of the sum assured or 10 times of annualized premium.
    Plan Option 2
    Death Benefit The benefit paid will be the same as Plan Option 1
    Accident Death Benefit(Before Reaching 65 years) In case of accidental death, the benefit paid will be the Sum Assured on Death + Additional Sum Assured subject to a maximum of Rs 2 Crore, which will be paid.
    Plan Option 3
    Death Benefit Or
    Accelerated Critical Illness Plus (before the age of 65 )
    If diagnosed with any Critical Illness 50% of the Sum Assured on Death, subject to the max of rs 50 lakh.
    Waiver of Premium Benefit Future premiums will be waived and the policy will remain in force with only death benefit payable further.
  • Critical Illness Cover
    The plan offers protection against 11 critical illnesses and provides a lump sum payout of 50% of SA if diagnosed with any of the illnesses mentioned in the list below:
    • Caner of Specific Severity
    • First Heart Attack
    • Open Chest CABG
    • Kidney Failure
    • Stroke Resulting in Permanent Symptoms
    • Major Organ/Bone Marrow Transplant
    • Permanent Paralysis of Limbs
    • Multiple Sclerosis with Persistent Symptoms¬†
    • Aortic Surgery
    • Permanent Pulmonary Hypertension
    • Alzheimer's Disease
  • Surrender Benefit
    The policy offers surrender benefits after paying the premium at least for 2 years. The policyholder will receive a guaranteed surrender value or special surrender value.
  • Tax Benefit
    If the policyholder buys the Bajaj Allianz Life Secure Term Plan they are eligible for tax benefit under section 80(C) of the tax law.

Terms and Conditions

The plan has a few limitations that are mentioned below:

  • Policy Loan
    The insured will not be able to draw any loan based on this policy.
  • The Policy will Terminate if
    • Medical case management
    • Medical consultation
    • Vitals tracking
    • Health coaching
    • Webinars and more

Conclusion

Bajaj Allianz Life Secure Term Plan can be a good choice as it comes in 3 plan variants, provides insurance cover for a hundred years, multiple death benefits high sum assured rebates, and much more. The term plan is comprehensive and even covers 11 critical illnesses. It comes with a Waiver of Premium Benefit as well if the policyholder is detected with Permanent Total Disability. Life Secure term plan doesn't leave any stone unturned when it comes to leaving a financial corpus for your family. 

Bajaj Allianz Life Term Insurance Plans

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.

Bajaj Allianz Life Saral Jeevan Bima

A simple easy to understand pure protection term plan which comes in affordable premiums and provides death benefit to the family of the policyholder.

Unique Features

  • Future Proofing Benefit
  • 100 % Death Benefit
  • Max Sum Assured 25 Lakh

Saral Jeevan Bima (Pros)

  • Spouse Cover
  • Max Sum Assured 25 Lakh
  • Available for Online Buying

Saral Jeevan Bima (Cons)

  • No Survival Benefit
  • No Surrender Benefit
  • No Maturity Benefit

Saral Jeevan Bima (Other Benefits)

  • Avail Tax Benefits
  • Easy Claim Settlement Process
  • Flexible-Premium Payment term

Saral Jeevan Bima (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 5L
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP (5&10 Years)

The plan provides pure term and health coverage, providing whole life cover and accidental total permanent disability.

Unique Features

  • Waiver of Premium(WOP)
  • Accelerated Critical Illness(ACI)
  • 4 variants

eTouch Online Term (Pros)

  • Shield
  • Shied Plus
  • Shield Supreme

eTouch Online Term (Cons)

  • No Loans Allowed
  • No Surrender Benefit
  • No Maturity Benefit

eTouch Online Term (Other Benefits)

  • Max Sum Assured 2 Cr
  • Sheild Super
  • High Sum Assured Rebate (HSAR)

eTouch Online Term (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 50 L
  • Maximum Maturity Age - 75 Yrs
  • Premium Payment Term - 10 to 40 Yrs

Bajaj Allianz iSecure Plan

A comprehensive term life insurance plan that offers level life cover at an affordable cost.

Unique Features

  • Joint Life Cover Option
  • Non-Smokers Discount
  • Flexible Premium Payment

iSecure Plan (Pros)

  • No Suicide Cover
  • Healthy Lifestyle Incentives
  • Customizable Options

iSecure Plan (Cons)

  • No Maturity Benefit
  • Limited Rider Options
  • Limited Availability for POS Channel

iSecure Plan (Other Benefits)

  • Tax Benefits
  • Premium Payment Options
  • High Sum Assured Rebate (HSAR)

iSecure Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 2.5 L
  • Maximum Maturity Age - 85 Yrs
  • Premium Payment Term - 10 to 25 Yrs

The comprehensive plan offers death coverage, accidental death coverage, Cancer cover benefits, and Waiver of Premium on Critical Illness Benefits.

Unique Features

  • (ROP) as Maturity Benefit
  • Whole Life cover
  • Waiver of Premium Benefit

Smart Protection Goal (Pros)

  • Critical Illness Benefit
  • Accidental Death Benefit (ADB)
  • Accidental Total Permanent Disability Benefit

Smart Protection Goal (Cons)

  • No Loans Allowed
  • 180 Days WP For Critical Illness
  • No Rebate for SA above 3 cr

Smart Protection Goal (Other Benefits)

  • Suicide Cover After 12 Months
  • Female Life Rebate
  • High Sum Assured Rebate (HSAR)

Smart Protection Goal (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Min Sum Assured - 5 L
  • Max Maturity Age - 75 Yrs(ROP)
  • Premium Payment Term - RP/SP/LP

Bajaj Allianz iSecure More

An increasing life cover term plan which comes with rebates on sum assured. Gives the option of payout in instalments.

Unique Features

  • Spouse Cover
  • 5% Increase SI Annually
  • Death Benefit

iSecure More (Pros)

  • Convert to Joint Life Cover
  • Enhanced Cover with Riders
  • Option for Disbursement In Monthly Installments

iSecure More (Cons)

  • No Loans Allowed
  • No Surrender Benefit
  • No Maturity Benefit

iSecure More (Other Benefits)

  • Tax Benefit
  • Premium Payment Options
  • High Sum Assured Rebate (HSAR)

iSecure More (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 60 Years
  • Minimum Sum Assured - 2.5 L
  • Maximum Maturity Age - 70 Yrs
  • Premium Payment Term - 10, 15, 20 & 25 years

Bajaj Allianz iSecure Loan

A pure protection loan repayment term plan which comes with riders, tax benefits and limited premium payment term.

Unique Features

  • Death Benefit
  • Flexible Loan Rates
  • Flexible policy Term

iSecure Loan (Pros)

  • Suicide Cover
  • Tax benefits
  • Policy Revival within 5 Years

iSecure Loan (Cons)

  • No Survival Benefit
  • No Surrender Benefit
  • No Discount Benefit

iSecure Loan (Other Benefits)

  • Accidental Death Benefit Rider
  • Waiver of Premium Benefit Rider
  • Accidental Permanent Total/Partial Disability Rider

iSecure Loan (Eligibility Criteria)

  • Entry Age -25 Years
  • Max Entry Age- 60 Years
  • Minimum Sum Assured - 3 L
  • Maximum Maturity Age - 65 Yrs
  • Premium Payment Term - 10, 15, 20 & 25 years

Bajaj Allianz Life Secure

A pure term plan that comes with female discounts, death benefit and a high sum assured for more protection.

Unique Features

  • Three Coverage Options
  • 100 Years Life Cover
  • 4 Premium Payment Terms

Life Secure (Pros)

  • Surrender Benefit
  • Suicide Cover
  • Choose your Sum Assured

Life Secure (Cons)

  • No Survival Benefit
  • No Thyroid Cancer Cover
  • No Maturity Benefit

Life Secure (Other Benefits)

  • Death Benefit
  • Accelerated Critical Illness
  • Waiver of premium Benefit

Life Secure (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 20 L
  • Maximum Maturity Age - NA
  • Premium Payment Term - 5, 7, 10 and 15 years

A pure-risk plan that provides level cover term assurance and accelerated terminal illness benefit. The plans gives an option of regular income or lump sum.

Unique Features

  • Rebate on high sum assured
  • Discounts for Female
  • No Medical Examination

LifeStyle Secure (Pros)

  • Family Cover
  • Choose your Policy Term (PT)
  • Inbuilt Accelerated Terminal Illness

LifeStyle Secure (Cons)

  • No Loans Allowed
  • No Surrender Benefit
  • No Maturity Benefit

LifeStyle Secure (Other Benefits)

  • Suicide Cover
  • Easy Claim Settlement
  • Policy revival Within 5 Years

LifeStyle Secure (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 50 Years
  • Minimum Sum Assured - 3L
  • Maximum Maturity Age - 60 Years
  • Premium Payment Term - 5/ 7/ 10/ 15/ 20 Yrs

Bajaj Allianz Life Secure Term Plan: FAQs

1. What is the Revival period of the Bajaj Allianz Life Secure Term Plan?

The policy offers a revival period of 5 years after the termination of the policy.

2. What is the Grace Period of this plan?

The plan offers a grace period of 15 days after the policy lapses.

3. What is the Freelook Period of Bajaj Allianz Life Secure Term Plan?

The plan offers a freelook period of 15 days.

4. Does this plan have any Rider Benefits?

No, the plan does not offer any Rider Benefits.

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Bajaj Allianz Term Insurance Reviews

Read what our customers have to say about Bajaj Allianz term insurance company

Customer Review Image

Prerna Negi

Chennai

April 8, 2024

I bought a Bajaj Allianz Life Insurance through PolicyX, and I must say the level of communication and assistance I have received has been truly impressive.

Customer Review Image

Anupam yadav

Bhopal

February 16, 2024

Excellent customer service of policyx.com They guided me through the entire process of bajaj allianz life insurance and found me the best plan with good coverage under my budget

Customer Review Image

Somesh

Agra

December 9, 2022

I had many confusions regarding the term policies . But Policyx has handled it well, m happy that they are my wayfarer in this journey.

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Kaneeka Joshi

Chandigarh

October 6, 2021

good service during claims settlement recently. Now bought another cover from Bajaj for their service

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Shubham Sharma

Delhi

October 5, 2021

grateful! good plans! I m planning to renew my policy now with them. the features are pretty impressive

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Saksham Patani

Bhopal

October 5, 2021

it s a good company. i was offered a term plan and the premiums in my budget! Also thankful to policyx for their inputs and suggestions

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Kopil Dev

Mumbai

October 4, 2021

amazing service! like truly amazing! i mean I have always been so skeptical about insurance...but Bajaj was so professional and dealt with my queries wonderfully!

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Sanam Makheeja

Chandigarh

October 4, 2021

good team the company has created...very very helpful and quick with query resolution! I am grateful to be a customer of this company!

Bindiya Sinha

Written By: Bindiya Sinha

Bindiya is a seasoned content writer specializing in keeping readers acquainted with the insurance industry, term insurance developments, and life insurance sector shifts. With an experience of 3 years in insurance, Bindiya ensures that her readers stay well informed with the insurance developments and factually correct information.