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Overview
Bajaj Lifestyle Secure is a dual benefit insurance plan that combines life cover with protection against critical and terminal illnesses in one policy. Many people struggle to choose between life insurance and health insurance, but this plan addresses both needs together through a single solution. It provides financial protection for the family in case of death and offers lump sum support during serious health conditions.
Bajaj Lifestyle Secure Plan offers a range of benefits including:
- Flexible premium payment modes
- Terminal illness coverage
- High sum assured discounts
- Tax benefits
- Affordable premiums
- Death benefit payout options
Riders Associated with Bajaj Lifestyle Secure Plan
You can add the following riders to your Bajaj Lifestyle Secure Plan:
Bajaj Accidental Death Benefit Rider
In case of the policyholder’s demise due to an accident, benefits are paid to their nominee.
Bajaj Accidental Permanent Total/Partial Disability Benefit Rider
Under the accidental disability rider, benefits are offered in case of the policyholder’s disability or demise due to an accident.
Key Features of Bajaj Lifestyle Secure Plan
Inbuilt Accelerated Terminal Benefit
The plan comes with an Inbuilt Accelerated Terminal Illness risk cover that allows you to avail a life cover amount in case of diagnosis of terminal illness.
No Medical Examination Required
There is no medical test required to opt for Bajaj Lifestyle Secure Plan.
Affordable Premiums
The plan offers high life cover in exchange for affordable premiums.
Lower Premiums for Females
Bajaj Lifestyle Secure Plan offers lower premium rates for female policyholders.
High Sum Assured Rebate
The plan offers a special premium discount for each ₹1,000 exceeding ₹3,00,000 sum assured.
Flexible Premium Payment Modes
Throughout the policy term, you can change your premium payment mode based on your budget and convenience.
Option to Take Death Benefits as Per Requirements
The plan offers you the flexibility to choose death benefits or terminal illness cover payout options (monthly or lump sum) as per your requirement.
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.
Exclusions
- The policy shall be terminated if the policyholder commits suicide within 12 months from the date of policy inception.
- Death due to consumption of intoxicants.
- Death due to aviation accidents.
