Bajaj Term Insurance
Bajaj iSecure Loan is a loan cover term assurance plan, which ensures ...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 Loan Term Plan is a protection-focused insurance plan designed to clear your outstanding loan in case of death. It ensures your family does not inherit financial liability and keeps their future stable even during unexpected events.
It is designed for people with home loans, personal loans, or other long-term borrowings who want simple debt protection in one plan.
Bajaj iSecure Loan 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 Loan works with a simple premium illustration.
Mr. Verma is looking for a term plan that provides financial safety to his family and ensures that his liabilities don't act as a burden for his family in case of his unfortunate demise.
His financial advisor advised him to buy the Bajaj iSecure Loan Plan. He visited PolicyX.com
Let's understand how the Bajaj iSecure Loan 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 9,821 | 10 years | 6 years | Rs 58,926 | 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.
You can add the following riders to your Bajaj i-Secure Loan 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 Loan stand out.
Limited premium payment term
Benefit from limited premium payment term of 2/3rd of your policy term.
Choose your premium payment term
Bajaj i-Secure Loan Term Plan provides an option to choose from 'Multiple Premium Payment Terms'.
Select your policy term
Flexibility to select your policy term from 10,15,20 and 25 years depending on the tenure of your loan.
Opt for rider benefits
Bajaj i-Secure Loan Term Plan provides you the option to enhance your coverage with rider benefits
Here are the key benefits of the Bajaj iSecure Loan.
Reducing loan liabilities
As you pay premiums and the policy continues, your loan amount reduces. The prevailing sum assured is paid upon the death of the life assured.
Premium discountson high sum assured
This plan offers premium discounts on choosing a sum assured of above 5 lakhs.
Death benefits
Upon the unfortunate demise of the life insured during the policy term Bajaj iSecure Loan plan pays the death benefits to their loved ones.
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.
Here is the list of exclusions associated with the plan:
Want to know the Bajaj iSecure Loan plan in short? For your convenience, we are providing a short overview of the plan. By knowing what's good here and what's lacking, you can easily decide to purchase.
What's Good?- Reducing cover, rider benefits, flexible premium paying option, joint life cover
What's Lacking?- No zero cost, no return of premium
If you have doubts or queries regarding the Bajaj iSecure Loan term plan or need assistance, you can contact us at policyX.com by dialing 1800 420 0269.
Bajaj iSecure Loan Term Plan helps protect your family from loan burden in your absence. It ensures
The 5 most-asked questions about Bajaj iSecure Loan, answered.
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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