Life Goals Loading…

Have us call you

Please enter a Name
Please enter a Mobile No.
Please select a option
Please select a option

Thanks for sharing your details, A Sales representative from
Bajaj Allianz Life will contact you shortly.

Bajaj Allianz iSecure More A Non-Participating Increasing Cover Term Assurance Plan

  • Increasing life cover
  • Joint life cover
  • High sum assured rebate
  • Death Benefit payments in instalments
Online term plan from Bajaj Allianz Life
Download Brochure 9 pages - 440KB
Download Policy Document 9 pages - 440KB
  • Overview
  • Key Advantage
  • How this works
  • Eligibility
  • Downloads
  • Policy Benefits
birthday_image

Increasing Cover Term Insurance Plan - Bajaj Allianz iSecure More

While every passing day brings us closer to our life goals, we also tend to add newer life goals with each new life stage. Similarly, with passing of time the overall cost of living and life goals tend to increase due to inflation. Hence, it is essential that your financial plan includes current and future life goals, of you and your family, keeping this increasing cost in mind.

Buying a term insurance plan with a fixed life cover is a smart way of securing the future of your family members in your absence. However, a fixed cover term plan may not always be sufficient. Bajaj Allianz iSecure More, a term policy with an increasing life cover, is a smart way of ensuring that dreams and aspirations of your family remain on track.

Life cover increases annually

The sum assured under iSecure More increases 5% at each policy anniversary; subject to maximum of twice the sum assured chosen at policy inception.

Convert to joint life cover

You can include your spouse in the existing policy or at a later stage in case you were single at the time of purchasing the policy.

Rebate on high sum assured

If you opt for a high sum assured of ₹ 5,00,000 and above, iSecure More offers attractive rebates in premium.

Multiple Option for policy terms

Opt for one of the four policy terms 10, 15, 20 and 25 years depending on your needs.

Alter premium payment frequency

Premium can be paid in monthly, quarterly, half-yearly and annually. You can change the premium payment frequency on any policy anniversary.

Receive payouts in instalments

The nominee can opt to receive the death benefit payout in equal monthly instalments for five or ten years.

Tax benefits

Premiums are eligible for tax benefits under Section 80C and death benefits are eligible for tax benefits as per Section 10 (10D) of the Income Tax Act, subject to provision stated therein.

Choose between individual or joint life cover

Choose your Sum Assured(s) (Life Cover)

Choose your policy term & premium payment frequency

(Premium is based on your current age(s), Sum Assured(s), policy term and premium payment mode.)

Entry Age

Minimum Entry Age 

18 years

Maximum Entry Age

60 years

Maturity Age

Minimum Maturity Age

 28 years

Maximum Maturity Age

70 years

Policy Term

10, 15, 20 & 25 years

Minimum Installment Premium

Mode

Yearly

Half-Yearly

Quarterly

Monthly*

Premium ₹

`1,500

`750

`400

`150

* For monthly installment, three (3) installments need to be paid at the inception of the policy.

Sum Assured

Minimum Sum Assured

`250,000

Maximum Sum Assured

No Limit

Death Benefit

Individual Life

  • In case of unfortunate death of life assured during the policy term, provided all premiums are paid up to date, the benefit Sum Assured
  • The policy cover will terminate immediately on death of the life assured

Joint Life

  • The death benefit is payable on death of each life, provided the policy is in-force. The benefit payable will be Prevailing Sum Assured
  • On death of any one of the life assureds, the policy will automatically continue on the surviving life assured with a reduced premium. The reduced premium will be based on the age, policy term, premium payment frequency and sum assured of the surviving life assured as at the inception of the policy.
  • The policy cover will terminate immediately on death of the surviving life assured

Tax Benefits

Premium paid are eligible for tax benefits under section 80C of the Income Tax Act and death benefit is eligible for tax benefit under Section 10( 10D) of the Income Tax Act, subject to the provision stated therein.

Term insurance benefits - save on income tax

How To Save Income Tax By Investing In Term Life Insurance Plan

READ MORE
Term insurance riders - know all about them

Term Life Insurance Policy Riders: Why They Matter

READ MORE

What is the Sum Assured under this plan?

The minimum Sum Assured in Bajaj Allianz iSecure More is ` 2,50,000, and there is no upper limit for maximum Sum Assured. This is a key advantage of iSecure More term plan where there is  increase in the Sum Assured by 5% at each policy anniversary; subject to maximum of twice the sum assured chosen at policy inception.

Can the policyholder (first Life Assured) add his/her spouse in the existing policy if he/she was unmarried at the time of purchasing the policy?

Yes, you can add your spouse in the existing policy in case you were not married at the time of policy purchase. However, if you were already married at the time of purchasing the policy, you do not have the option of adding your spouse in the existing policy.

Under the joint life option can the policyholder (first Life Assured) and the second Life Assured, choose different sum assured?

Yes, the second life assured can opt for a sum assured less than or equal to the first life’s sum assured, subject to the minimum sum assured under the plan.

Life Insurance Glossary

Annualised Premium

“Annualised Premium” means the total amount of Regular Premiums payable in a Policy Year, after due consideration of applicable premium factors for various Premium Payment Frequency. (In this calculation, any extra premium, Rider Premium or applicable taxes are excluded.

Grace Period

“Grace Period” means a period of fifteen (15) days for a monthly Premium Payment Frequency and thirty (30) days for other than monthly Premium Payment Frequency, from the due date of the Regular Premium payment.

Life Assured

“Claimant” means the Life Assured (if alive) or Policyholder (if different from the Life Assured) or the assignee or the Nominee or the legal heirs of Policyholder/Nominee(s) to whom the Policy Benefit will be payable.

Maturity Date

“Maturity Date” means the date specified in the Schedule on which the Maturity Benefit as per policy document shall become payable to the Policyholder

Nominee

“Nominee” means the person who has been nominated in writing to the Company by the Policyholder, who is entitled to receive the Death Benefits under the Policy as mentioned in Policy Document.

Paid-up Sum Assured on Death

“Paid-up Sum Assured on Death” is the reduced value of the Sum Assured on Death arrived at by multiplying the Sum Assured on Death with the proportion of the number of Regular Premiums paid to the total number of Regular Premiums payable under the Policy.

Paid-up Sum Assured

“Paid-up Sum Assured” is the reduced value of the Sum Assured arrived at by multiplying the Sum Assured with the proportion of the number of Regular Premiums paid to the total number of Regular Premiums payable under the Policy

Paid up Sum Assured on Maturity 

If the Regular Premiums due for first three (3) Policy Years are paid and subsequent Regular Premiums are not paid, the Policy will, immediately and automatically, be converted to a paid-up Policy on the expiry of the Grace Period as per the conditions stated in the policy document.

Policyholder

“Policyholder” means the adult person named in the Schedule who has concluded the Policy with the Company

Rider Benefit

“Rider Benefit” means the benefit payable under the Rider on the happening of the contingent event covered under the Rider. For more details, refer to the Policy Document

Rider Life Assured

“Rider Life Assured” means the person named as the Rider Life Assured in the Schedule whose life is assured under this Rider

Rider Premium

“Rider Premium” means the amount exclusive of applicable taxes, if any, payable by the Policyholder at regular intervals during the Rider Premium Paying Term, in amount (along with and as part of the Regular Premium) and at the Premium Payment Frequency.

Rider Premium Paying Term

“Rider Premium Paying Term” means the period specified in the Schedule during which the Rider Premium is payable.

Rider Term

"Rider Term” means the period between the Date of Commencement of Rider and the Rider Maturity Date, as mentioned in the Schedule

Sum Assured on Maturity

"Sum Assured on Maturity” is the amount as specified in the Schedule under the Policy Document

Sum Assured

“Sum Assured” is the amount as specified in the Schedule under the Policy.

Surrender Benefit

“Surrender Benefit” means the benefit, if any, payable on the surrender of the Policy. The details are as given in Policy Document

X
  • Talk to an Expert
  • About Us
Have us
call you
Please enter a Name
Please enter a Mobile No.
Please select a option
  • Claim deposits via electronic transfer to make process faster
  • Solvency ratio of 767% **
  • Our Priority is not to sell Life Insurance, it is to serve you in the fastest & most convenient manner when you need us.

**All figures as on 31 December, 2018.

"What are your life goals?" is one of the most common questions that comes to one's mind while taking any step further in Life. Most just answer it by laughing it off or saying we will think about it.

A key reason that they feel this way is that they haven't spent enough time thinking about what they want from their life, and haven't set themselves any goals.

Goals keep changing as per different life stages and one has to plan meticulously for their future.

Deciding your Life Goal is all about planning to "Live your life, your way". There could be various Life Goals such as trotting the globe, becoming a food blogger to starting your own business, owning your dream house, or planning your Childs education or marriage.

L"IF"E is full of IF's... and one needs to plan to secure their loved ones and themselves against the Ifs of Life. When you opt for a life insurance plan, you transfer your family's financial risks in case of any unfortunate event to the life insurer. This allows you and your loved ones to live life fearlessly. Life Insurance protects your family's financial wellbeing from the consequences of living without an income.

When you purchase a life insurance policy, one of your major life goal gets fulfilled i.e. you purchase a sense of security. A safety net that cushions your family members from the financial impact of your sudden absence and ensures that any outstanding debts that were incurred during your lifetime don't fall upon your loved ones.

Having life goals is an important aspect in each one's life. One needs to be SMART and plan out well in advance to ensure nothing goes wrong in the future. Life insurance offers a range of products that could come in handy for meeting your financial goals.

To ensure that it is not too late, get your #LifeGoals insured with us today! It will help you smile in the face of tomorrow's uncertainties and let you live a worry free life!