Bajaj Allianz ISecure More Term Insurance Plan

What is the Plan all About?

Financial responsibilities tend to increase as you go ahead in life and thus, ensuring family’s financial protection is quite essential. Bajaj Allianz iSecure More is an increasing cover term insurance plan that enhances financial protection for your family and is helpful to combat inflation during the policy term with increasing life cover.

What are the Key Features?

5% annual increase in life cover at each policy anniversary
Option to enhance cover up to twice the sum assured at policy inception, subject to policy terms
Attractive discounts on choosing Sum Assured Rs.5 lacs and above
Single and joint life (with spouse) availability
Option to choose single or joint life under one plan
Tax benefits under Sec 80 C & 10 (10D)
You may choose policy proceeds in monthly installment

What are the Plan Benefits?

Death Benefit

Individual Life: Upon the death of the insured during policy, the sum assured will be paid (if all premiums are fully paid). The tenure of the policy will terminate on the death of the life assured. Your spouse/nominee will have the option to take the death benefit in monthly installments of 5 or 10 years. If you are not married at the inception of the policy, you can include your spouse at a later date, after marriage.
Joint Life: The sum assured will be paid on the death of each life. Moreover, on the unfortunate death of any one of the life assured, the policy will continue on another life assured with a reduced premium (depending on age, lifestyle, premium payment frequency, policy tenure and sum assured). This term policy will terminate on the unfortunate demise of the surviving life assured.

Who can Buy the Plan?

Factor	Minimum	Maximum
Age (as on last birthday)	18 Years	60 Years
Age at Maturity	28 Years	70 Years
Policy Tenure	10 Years	25 Years
Premium Paying Term	Same As Policy Term Years	-
Premium Paying Mode	Monthly, Quarterly, Semi Annually & Annually	-
Sum Assured	2.5 Lacs	No Limit (subject To Underwriting)
Maturity Proceeds	Nil	-
Riders	Not Available	-
Surrender Value	Nil	-

Is any Rider Available with this Plan?

No rider is available with this plan.

How does the Plan Work?

Bajaj Allianz iSecure More allows you to secure yourself or to cover yourself, along with your spouse. You can customize the plan by choosing between an individual or a joint life cover . Choose your ideal sum assured and your policy term & premium payment frequency under the plan.

Your life cover under the plan will increase at each policy anniversary by 5% of the original sum assured at the beginning of the policy. This increase of the sum assured will not be more than twice the original sum assured at the policy inception. In case of untimely demise of the life assured, the death benefit payable will be the prevailing sum assured as on date of death.

Is the Plan, eligible for Tax Benefit?

Under this plan, the premium payment qualify for tax benefits as per Section 80C of the Income Tax Act and the policy proceeds are also entitled for tax benefits as per Section 10 (10D) of the Income Tax Act.