Bajaj Life Secure Term Plan: Check Eligibility and Benefits
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Bajaj Life Secure

Bajaj Life Secure is a whole life plan that provides term assurance co ...Read More

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About Bajaj Life Secure

A quick read on what this Bajaj Term Insurance term plan covers and why it might be a fit for you.

Bajaj 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. This is 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. There are three plan options: Death Benefit, Death Benefit + Accidental Death Benefit, Death Benefit + Accidental Death Benefit + Waiver Of Premium Benefit.

Bajaj Life Secure Plan offers you a range of benefits including:

  • Life cover up to the age of 100 years.
  • Tax Benefit
  • High sum assured rebate.
  • Additional riders to choose from
  • Death benefits
  • Attractive premium rates for female lives.

Eligibility Criteria for Bajaj Life Secure

Entry age
Entry age
Minimum Age - 25 years Maximum Age - 55 years
Maturity age
Maturity age
Maximum Maturity Age - Whole life
Policy term
Policy term
100 minus Entry Age
Sum assured
Sum assured
Base sum assured: No limit
Policy loan
Policy loan
The policy loan is not available under Bajaj Life Secure Plan.
Payment Modes
Payment Modes
Annual, half-yearly, quarterly & monthly

Pros & cons

A quick honest summary — the strengths and the trade-offs.

Pros

  • Surrender Benefit
  • Suicide Cover
  • Choose your Sum Assured

Cons

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

Who can buy this plan

Eligibility criteria pulled straight from the policy wording.

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

How Does Bajaj Life Secure Policy Work?

Let's understand how the Bajaj Life Secure Policy works with a simple premium illustration.

Problem

Mr. Verma is looking for a simple and affordable term plan that offers him whole life coverage so that his family is protected even after his demise.

Solution

His financial advisor advised him to buy the Bajaj Life Secure Plan. He visited PolicyX.com

Let's understand how the Bajaj Life Secure Plan works for him with a premium illustration table.

Age of policyholder Annual premiums Policy tenure Premium payment term Total premiums paid Sum assured
35 years Rs 84,940 15 years 15 years Rs 2,49,630 Rs 30 lakhs

Key Takeaways: In case of Mr. Verma's demise during the policy tenure, Rs 30 lakhs will be paid to their nominee.

Features of Bajaj Life Secure

Key features that make Bajaj Life Secure stand out.

Attractive premium rates for female lives.

Bajaj Life Secure offer attractive premium prices for female policyholders to promote insurance awareness among females.

Choose your premium payment term

Bajaj Allnz Life Secure Plan offers you to select from the 4 Premium Payment Term, viz 5,7,10,15 years.

Many customization options

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.

Comprehensive coverage with a waiver of premium benefits

Bajaj Life Secure Plan offers many customization options such as choosing between sum assured, and premium payment terms that suit the policyholder's needs.

Benefits of Bajaj Life Secure

Here are the key benefits of the Bajaj Life Secure.

Life Cover up to theage of 100 years

Bajaj Life Secure Plan offer life coverage up to 100 years of age.

High Sum AssuredRebate

Bajaj Life Secure offer discount on choosing the high sum assured in your plan.

3 plan options to choose from

Bajaj Life Secure Plan offer the policyholders to choose from the 3 plan options.

Tax benefits

Bajaj offers term insurance tax benefits under section 80C of income tax 1961 for up to 1.5 lakhs of the total premium paid in the same financial year.

Exclusions of Bajaj Life Secure Plan

Here is the list of exclusions associated with the plan:

  • The policy shall be terminated if the policyholder commits suicide within 12 months from the date of policy inception.
  • Death due to consumption of any intoxicants.
  • Death due to any aviation accident.

Conclusion

Bajaj 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.

If you are still confused about which term plan is best for you then you can contact us at policyX.com. One of our insurance representatives will contact you shortly, understand your requirements, and choose a plan that suits your needs.

Conclusion

Bajaj Life Secure Term Plan can be a good choice as it comes in 3 plan variants, provides insurance

FAQs: Bajaj Life Secure Plan

The 7 most-asked questions about Bajaj Life Secure, answered.

The policy offers a revival period of 5 years after the termination of the policy.
The plan offers a grace period of 15 days after the policy lapses.
The plan offers a freelook period of 15 days.
No, the plan does not offer any Rider Benefits.
Bajaj Allianz Life Secure provides whole-life term coverage till 100, flexible premiums, cover rebates, optional riders, and legacy payout, giving lifelong protection and wealth transfer.
Bajaj Life Secure provides three options: accident cover till 65, basic death cover, or critical illness payout with premium waiver, plus whole-life protection till age 100.
Joint life insurance covers parents, spouses, and children or business partners. One policy covers two lives, pays on the first death, and also costs less than separate plans.

Written and reviewed by

PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.

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