Bajaj Allianz iSecure More

Bajaj Allianz iSecure More Term Insurance Plan is an increasing cover term assurance plan which helps you ensure the financial security of your family. By opting for this product, you can plan for the expenses of your family courtesy the facility of receiving the policy proceeds in annual instalments. If you were not married at the time of acquiring the policy, you can include your spouse at a later date during the existing policy. You can also alter your premium payment frequency in addition to a rebate on high sum assured. Under this plan, you can benefit from an increasing cover of 5% in sum assured at each anniversary of the policy, up to twice the sum assured at inception of the policy. You can select any term ranging from 10 years to 15 years, and choose either an Individual or joint . The premium charged on your policy will depend on your current age, sum assured, policy term and premium payment frequency.

Eligibility Criteria for Bajaj Allianz isecure More Term Plan

The eligibility criteria for acquiring the plan are listed in the table below:

Minimum Entry Age

18 years

Maximum Entry Age

60 years

Minimum Maturity Age

28 years

Maximum Maturity Age

70 years


  • Identity Proof
  • Age Proof
  • Income Proof
  • Address Proof
  • PAN Number

Features of Bajaj isecure More Term Plan

The features of more Term Plan are listed in the table below:

Minimum Sum Assured

Rs. 2,50,000

Maximum Sum Assured

No limit

Policy Term

10, 15, 20 and 25 years

Minimum Instalment Premium

  • Rs. 1500 per yearly
  • Rs. 750 per half-yearly
  • Rs. 400 per quarterly
  • Rs. 150 monthly (three instalments need to be paid at the inception of the policy)

Premium payment

  • Instalment premium (apart from yearly instalment) is calculated by multiplying the yearly premium with the premium frequency factors given below:

Premium frequency





Frequency factor





  • Customers can alter their premium payment frequency at any policy anniversary (subject to limits under the plan).

Benefit installments

Nominee has the option to receive the death benefit in equal monthly instalments for 5 to 10 years

Grace Period

  • 15 days (monthly premium payment)
  • 30 days (others)

Free look period

15 days

Benefits of Bajaj isecure more Term Plan:

The benefits offered by the plan are listed below:

Death Benefit

Individual policy

  • In the event of the unfortunate death of life assured, the Sum Assured will be paid to the nominee. The policy will stand terminated after the death of the life assured

Joint policy

  • Death benefit is payable upon the death of each life.
  • Upon the death of either of the life assureds, the policy will continue with a reduced premium which will be based on the age, premium payment frequency policy term, lifestyle category and sum assured
  • The policy will terminate after the death of the surviving life assured

Premium Rebates

Offers attractive premium discount for choosing high sum assured of Rs. 5 lakh and more. The higher sum assured rebate for individual cover is as listed below:

Sum Assured

Less than or equal to 30 (age)

41 to 50 (age)

Greater than or equal to 51

5,00,000 to 9,99,999




20,00,000 to 49,99,999




50,00,000 and above




The Joint Life Rebate (JLR) is listed below:

Age of Older Life Assured

Less than or equal to 40

41 to 50

Greater than or equal to 51

JLR as % of the total gross

premium applicable to

individual lives




Maturity Benefit

No maturity benefit is payable under this plan

Survival Benefit

No surrender benefit is payable under this plan

Tax Benefits

  • Premiums are eligible for tax benefits under section 80C of IT Act
  • Death benefit is eligible for tax benefits under section 10 (10D) of IT Act

Exclusions of Bajaj isecure more Term Plan:

If the life insured or the second life insured (joint life policy) ends life (sane or insane) within one year of the commencement of the policy or the last date of the revival of policy, the policy will be terminated by paying an amount equal to 80% of the premiums paid till the date of death (not the intimation of the date of death).

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

This Page is BLOCKED as it is using Iframes.