Bajaj Allianz ISecure Online Term Plan

What is the Plan all About?

Life is full of uncertainty and you never know an unforeseen incident can put the financial security of your family at risk. Bajaj Allianz iSecure is a non-linked and non-participating level term insurance plan that provides the financial cover for your family, so they can lead a financially healthy lifestyle even after your demise.

What are the Key Features?

Avail life cover at a reasonable cost
Attractive high sum assured rebate
Option to choose a flexible policy term
Avail tax benefits under section 80 C & 10(10 D
Choose premium payment options as per your ease
Flexibility to cover your spouse jointly in the plan
Opt for death benefits in equal monthly installments over a period of 5 or 10 years

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.
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	30 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 Benefit	Nil	-

Is any Rider Available with this Plan?

No rider is available with this plan.

How does the Plan Work?

Let us understand the plan with the example of Jai

Life Insured: Jai

Age of life Insured: 30 years

Policy Term: 20 years

Sum Assured: 1,00,00,000

Annual Premium: Rs 10,465

In case of unfortunate death of Jai at 7th policy year, benefits received by the nominee will be the sum assured of Rs. 1,00,00,000
Premium shown are for a non-smoker male life exclusive of Goods and Service Tax

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.