Bajaj Allianz Life Insurance: Life Secure

Bajaj Allianz Life Secure: A Non-Linked Whole Life Term Plan

Bajaj Allianz Life Secure- Assuring you protection for a lifetime.

We all wish for protection at all stages of our life, but most of the time achieving this through-out our life is very difficult.

Helping you with a solution, we at Bajaj Allianz Life Insurance present Bajaj Allianz Life Secure - a unique term insurance plan that provides you complete protection till your 100th birthday, so that you can live worry-free for a lifetime.

(Toll Free) 1800-209-0144

SMS LIFE @ 56070

Key Features

    Bajaj Allianz Life Secure is a whole life plan that provides term assurance cover, accidental death cover and critical illness cover, depending on your choice. The key advantages of this plan are:

  • Three coverage options to choose from:
    • Option I - Death Benefit
    • Option II - Death Benefit plus Accidental Death Benefit
    • Option I - Death Benefit or Accelerated Critical Illness plus Waiver of Premium Benefit
  • Life cover up to the age of 100 years
  • Choice of 4 Premium Payment Terms (PPTs), viz., 5, 7, 10 or 15 years.
  • More value for money with High Sum Assured Rebate
  • Attractive premium rates for female lives

How Does Your Plan Work

You can customize your policy to suit your requirement in the following manner:

  • 1step

    Choose your coverage option^

  • 2step

    Choose your Sum Assured

  • 3step

    Choose your
    Premium Payment Term (PPT)

Your premium will be based on your current age, gender, Sum Assured, coverage option, PPT & premium payment frequency.

^The coverage option chosen at inception cannot be changed during the policy term.

Am I Eligible?

  • Entry Age

    25Minimum

    Coverage Option I & II: 55 years
    Coverage Option III: 50 years Maximum

  • Policy Term

    (100 minus Age at Entry) years

  • Premium Paying Term

    5, 7, 10 and 15 years

  • Minimum Premium

    Installments Yearly Half-Yearly Quarterly Monthly
    Rs. 36,720 18,727 9,547 3,305
    Maximum Premium - No Limit
  • Sum Assured

    Rs.20,00,000Minimum

    No Limit
    Sum Assured has to be opted in multiples of Rs. 50,000 Maximum

  • Premium Payment Frequency

    Yearly, Half Yearly, Quarterly and Monthly#

# Monthly premium payment frequency will be available under salary deduction scheme & ECS.

Bajaj Allianz Life Secure (UIN: 116N130V01)

For more details, please refer to the Brochure and Policy Document

Policy Benefits

    The benefit payable will be as per the below mentioned coverage option chosen at inception of the policy:

  • For Coverage Option I(Only Death Benefit)

    • On death of the life assured during the policy term: Sum Assured on Death will be paid and the policy will terminate.
  • For Coverage Option II (Death Benefit plus Accidental Death Benefit)

    • On death of the life assured during the policy term: Sum Assured on Death will be paid and the policy will terminate.
    • On death of the life assured due to accident, before reaching age 65 years: Sum Assured on Death plus an additional Sum Assured subject to maximum of Rs. 2 crores, will be paid and the policy will terminate.
  • For Coverage Option III (Death Benefit OR Accelerated Critical Illness plus Waiver of premium Benefit)

    • On occurrence of first Critical Illness on the life of the life assured before attaining age 65 years and during the first 30 years of the policy: 50% of Sum Assured on Death, subject to maximum of Rs. 50 lacs, will be paid and all future premiums due under your policy, if any, will be waived. Policy will remain in-force for death benefit for the remaining Sum Assured on Death. No benefit is payable with respect to any future critical illness on the life of the life assured.
    • On death during the policy term, after critical illness benefit has been paid: the remaining Sum Assured on Death will be paid and the policy will terminate.
    • On death during the policy term, before any critical illness benefit has been paid: Sum Assured on Death will be paid and the policy will terminate.
  • If death benefit has not been paid before the life assured attains age 100 years, the below mentioned benefit will be paid and the policy will terminate:

    • If critical illness benefit has not been paid, Sum Assured.
    • If critical illness benefit has been paid, Sum Assured Minus Amount of critical illness benefit paid.
  • The Sum Assured on Death is defined as:

    • For age at entry less than 45 years, higher of (i) 10 times Annualised Premium*, (ii) 105% of total premiums paid till date of death or (iii) Sum Assured
    • For age at entry 45 years & above, higher of (i) 7 times Annualised Premium*, (ii) 105% of total premiums* paid till date of death or (iii) Sum Assured
  • * Annualized Premium and total premium is exclusive of extra premium and service tax & cess, if any

Policy Features
  • High Sum Assured Rebate (HSAR)

    The plan offers an attractive premium discount based on Coverage Option, chosen Sum Assured, Age and Premium Paying Term (PPT). A discount will be available on the annual premium for each complete additional Rs. 1,00,000 Sum Assured purchased over and above the minimum Sum Assured of Rs. 20,00,000 as mentioned in the table below:

    Coverage Option High Sum Assured Rebate applicable for Sum Assured band
    I above the minimum Sum Assured of Rs. 20,00,000
    II above the minimum Sum Assured of Rs. 20,00,000 and up to Sum Assured of Rs. 2,00,00,000
    III above the minimum Sum Assured of Rs. 20,00,000 and up to Sum Assured of Rs. 1,00,00,000
    High Sum Assured Rebate
    PPT (years) 5 7 10 15
    Below age 45 Rs. 152 Rs. 115 Rs. 90 Rs. 71
    Age 45 & above Rs. 113 Rs. 88 Rs. 70 Rs. 56
  • Tax Benefits

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

  • Surrender Benefit

  • You will have the option to surrender your policy provided at least
    • First two full years' premiums have been paid if the PPT under your policy is less than 10 years or
    • First three full years' premiums have been paid if the PPT under your policy is 10 or more years
  • The surrender value payable will be the higher of the guaranteed surrender value (GSV) or the special surrender value (SSV).
Sample illustration
  • Let's see an example:

    Vishal aged 35 years has taken a Bajaj Allianz Life Secure - coverage option III for a premium paying term of 15 years. The Sum Assured chosen by him is Rs. 30,00,000 for which he is paying an annual premium of Rs. 84,940 after a high sum assured rebate of Rs. 710. The risk covers received by Vishal are as follows:

    • In case of unfortunate diagnosis of any of the critical illness, say, at age 40
    • Vishal will receive Rs. 15,00,000 immediately and all the future premiums will be waived
    • In case of unfortunate death subsequently, say, at age 80 years, the nominee/claimant will receive Rs. 15,00,000 immediately
    • Sample Illustration Life Secure
    • In case of unfortunate death, say, at age 50 (no critical illness benefit was paid before), the nominee/claimant will receive Rs. 30,00,000 immediately.
    • Sample Illustration Life Secure

      Premium shown above is exclusive of Service Tax & cess, and any extra premium.

      For female lives, 3 year age set back is applicable in premium calculation for Coverage Option I and II

Frequently Asked Questions and Support

Questions to Ask Before Purchasing a Life Insurance Policy

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Today you have a wide variety of life insurance products to choose from.

Read More

How to Choose the Best Term Insurance Plan

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Let's understand the basics of term insurance for the less finance-savvy readers...

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For more details on the risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.

Disclaimer: I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) under either Fully or Partially Blocked category, any call made or SMS sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business.

Disclaimer: Insurance is the subject of the solicitation. For more details about risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. The terms and conditions of product/plan as contained in the Policy Document issued by the Company is available on the Web Site. Please note that the name of the Bajaj Allianz product/plan does not indicate the quality of the insurance contract and its future prospects or returns. Investment in ULIPs is subject to market risks associated with capital markets. IN ULIPs, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. Tax benefits are as per the prevailing Income Tax Laws including the Income Tax Act, 1961 and are subject to change from time to time. Service tax and education cess will have to be borne by the Policyholder as per applicable rates. All other charges shall be levied in accordance with the terms and conditions of the policy.

Super Agent

Tax Benefits

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

Download Brochure

12 pages - 2.98 Mb

Download Policy Document

11 pages - 143 Kb

For more information Click here
*Life Insurance Claims settled as FY 2016-17