Bajaj Allianz I Secure Plan
Bajaj Allianz Life Insurance
Our Verdict
Bajaj Allianz iSecure’s ROP option and flexible payouts are appealing, complemented by riders like hospital cash and family income. While the base plan is straightforward, it's a solid choice for those wanting customizable financial protection and potential premium returns.
About the Plan
Bajaj Allianz iSecure is a non-linked, non-participating term insurance plan designed to provide financial security to your loved ones in case of your untimely demise. It offers a high sum assured at affordable premiums, ensuring comprehensive protection. Policyholders can choose between single, limited, or regular premium payment options, with flexible policy terms ranging from 10 to 30 years. The plan also provides the option for joint life coverage, ensuring financial stability for both spouses under a single policy. Additionally, it allows customization with riders for enhanced protection.
About the Plan
Eligibility
• Entry Age :
18 to 65 years
• Maximum Maturity Age :
85 years
• Policy Term :
10 to 30 years
• Minimum Sum Assured :
₹2,50,000
• Premium Payment Term :
Single, Limited, or Regular Pay
• Premium Payment Frequency :
Monthly, Half-Yearly, or Yearly
• Citizenship :
Indian residents and NRIs (subject to underwriting)
Eligibility
Features of the Product
Terminal illness
The plan pays an advance benefit if diagnosed with a terminal illness, ensuring financial support for medical expenses and family stability.
Total Permanent Disability Payout
In case of total permanent disability, the plan provides a payout to support financial stability, covering medical expenses and loss of income.
Premium Payment Customizations
Options of Premium payment frequencies are monthly, quarterly, biannual, or annual.
NOTE: bi-Annual, Quarterly and Monthly payment frequencies are only allowed if auto-debit is activated for payment.
Exclusions
Suicide within the first 12 months of policy inception or revival is excluded, with limited payout as per policy terms.
Death due to participation in hazardous activities like adventure sports, racing, or extreme sports is not covered.
Death caused by involvement in criminal activities, illegal acts, or substance abuse is excluded.
Pre-existing diseases and conditions not disclosed at the time of policy issuance may lead to claim rejection.
Death due to war, terrorism, civil unrest, or military operations is not covered under the policy.
Self-inflicted injuries leading to disability or death are excluded from coverage.
Any death arising from radiation, nuclear contamination, or biological/chemical exposure is not covered.
Death due to intoxication from alcohol, drugs, or non-prescribed substances is excluded.
Claims arising from participation in aviation activities, except as a fare-paying passenger on a commercial airline, are excluded.
Fraud, misrepresentation, or non-disclosure of material facts may result in policy termination without benefits.
Exclusions
Accidental Death Benefit Rider - Provides an additional lump sum payout in case of death due to an accident, ensuring extra financial security for the nominee.
Waiver of Premium Rider - If the policyholder becomes permanently disabled or critically ill, future premiums are waived while policy benefits remain active.
Critical Illness Rider - Offers a lump sum payout upon diagnosis of specified critical illnesses, helping cover medical expenses and income loss.
Hospital Cash Benefit Rider - Provides daily cash benefits for hospitalization, reducing the financial burden of medical expenses during treatment.
Family Income Benefit Rider - Ensures a steady monthly income to dependents in case of the policyholder’s unfortunate demise, supporting their financial needs.
Add-ons
If you smoke
Smokers get higher premiums than non smokers.
Note :
Suicide Clause : If the life assured dies by suicide within 12 months from the policy's start or latest revival, the nominee receives 80% of total premiums paid.
Free Look Up period : The Bajaj Allianz iSecure plan offers a free look period of 30 days, allowing policyholders to review and, if unsatisfied, cancel the policy within this timeframe.
Grace Period : The Bajaj Allianz iSecure plan offers a grace period of 15 days for monthly premium payments and 30 days for other frequencies.
Still Confused ?
Why OneAssure?
We guide your loved ones every step of the way to ensure they receive the full benefit of their coverage.
About the Company
Bajaj Allianz Life Insurance is a leading private life insurance company in India, formed as a joint venture between Bajaj Finserv Limited and Allianz SE founded in August 2001 in Pune headquarters. Known for its strong claim settlement ratio and innovative products, the company emphasizes customer-centric solutions with features like flexible premiums, rider options, and online services. Bajaj combines the financial expertise of Allianz SE with the trust and legacy of Bajaj Group, making it a preferred choice for long-term financial security.
The managing director and CEO of Bajaj Allianz is Mr Tarun Chugh.