Bajaj iSecure More

Overview

Bajaj iSecure More by Bajaj Life Insurance is an increasing cover term assurance plan. It offers a financial safety net to your loved ones in case of your unfortunate demise during the policy tenure. This plan allows you to increase your sum assured by 5% every policy year, up to 200% of the initial sum assured. You can also get a discount when choosing a higher sum assured amount.

Key Benefits of Bajaj iSecure More Term Plan

• Increasing Sum Assured: The plan offers the benefit of increasing the sum assured by 5% every policy year, up to a maximum of 200% of the basic sum assured amount.
• Death Benefits: This plan offers financial security to your loved ones in case something happens to you. The death benefits paid are equal to the life coverage chosen at the start of the policy tenure. Your nominee also has the option to receive death benefits in installments for 5 or 10 years from the date of the policyholder’s death. The nominee must inform the insurer at the time of filling the death claim form.
• High Sum Assured Discount: Bajaj iSecure More Term Plan offers a discount if you choose a high sum assured of ₹5 lakhs and more.
• Choice of Policy Tenure: You can choose a policy tenure from 10 to 25 years based on your financial requirements and goals.
• Option to Alter Premium Payment Frequency: The plan allows you to change the premium payment frequency during the policy tenure as per your requirements.
• Single Life and Joint Life Plan Options: The plan offers both single life and joint life coverage options. You can also add a spouse at a later stage during the policy tenure, converting your individual term policy into a spouse term plan.
• Tax Rebates: Enjoy tax benefits as per the prevailing tax laws.
• Grace Period: Bajaj iSecure More offers a grace period in case you miss your premium payments to avoid penalties. For monthly premium payments, the grace period is 15 days, and for other frequencies, it’s 30 days.

Riders You Can Choose With Bajaj iSecure More

You can choose the following rider options with your Bajaj iSecure More Plan to enhance your plan coverage:

Bajaj Accidental Death Benefit Rider

Rider benefits are paid to the nominee in case of the policyholder’s unfortunate death due to an accident during the policy tenure.

Bajaj Accidental Permanent Total/Partial Disability Benefit Rider

In case of accidental permanent total/partial disability, the applicable rider sum assured is paid to the policyholder.

Bajaj Waiver of Premium Rider

This rider waives off all your future premiums in the following circumstances:

• Death
• Diagnosis of any of the 11 critical illnesses mentioned in the rider brochure
• Accidental permanent total disability

Exclusions

• No policy loan is available under this plan.
• No maturity benefits are paid if the policyholder survives the policy tenure.
• In case of the policyholder’s death due to suicide within 12 months of policy purchase, no death benefits are paid to their loved ones. Only 80% of the premiums paid to date are returned to the nominee.