Bajaj Allianz Term Insurance

Term insurance plans are often the simplest, cheapest and purest form of insurance which are sought-after by millions of Indians. offers five term insurance plans which are wide-ranging in terms of the sum assured and premium rates and protection from loan liabilities. Online term insurance covers by Bajaj Allianz are iSecure, iSecure more and iSecure loan.

Types of Bajaj Allianz Term Life Insurance Plans:

The following are the five types of available

  1. Bajaj Allianz i-Secure More
  2. Bajaj Allianz Life eTouch Online Term Insurance Plan

Bajaj Allianz Life eTouch Online Term Insurance Plan

Bajaj Allianz Life eTouch Online Term is a regular premium payment, pure term and health cover plan

Feature

Description

Entry Age

Minimum: 18 years

Maximum: 65 years

Policy Term

Minimum: 10 years

Maximum: 40 years

Sum Assured

Minimum: 50 Lakhs

Maximum:

Life Benefit: No limit

ACI Benefit: Rs.75 lakhs

ADB and ATPB: Rs.2 crores

Premium

Minimum:Rs.5000 per annum

Maximum:No limit

Premium Payment Mode

Annually, bi-annually, quarterly and monthly. Bi-annual, quarterly, and monthly modes are only available under auto-debit process that is allowed by RBI for financial institutions

Death Benefit

In case of death of the insured, the nominees will have three payout options to choose from:

  • 100% lump sum payment
  • 50% lump sum payment and the rest in level or increasing monthly installments
  • 100% payment in level or increasing monthly installments

Bajaj Allianz iSecure More

Bajaj Allianz iSecure More is a non-participating increasing cover term assurance plan.

Feature

Description

Entry Age

Minimum: 18 years

Maximum: 60 years

Policy Term

Minimum: 10 years

Maximum: 25 years

Sum Assured

Minimum: Rs.2.5 lakh

Maximum: No limit

Premium

Minimum: Rs.1500

Maximum: No limit

Premium Payment Mode

Yearly, half-yearly, monthly, quarterly

Death Benefit

Instalments for a period of 5 or 10 years. (1.04*Sum Assured)/60 or (1.08*death benefit)/120

Bajaj I Secure Loan

Bajaj I Secure Loan is a non-participating mortgage cover term assurance plan.

Feature

Description

Entry Age

Minimum: 18 years

Maximum: 60 years

Policy Term

Minimum: 10 years

Maximum: 25 years

Sum Assured

Minimum: Rs.3 lakh

Maximum: No limit

Premium

Minimum: Rs.1500

Maximum: No limit

Premium Payment Mode

Yearly, half-yearly, monthly, quarterly

Bajaj Life Secure

Bajaj Life Secure is a non-linked whole life term plan.

Feature

Description

Entry Age

Minimum: 18 years

Maximum: 60 years

Policy Term

Entry age: 100 years

Sum Assured

Minimum: Rs.20 lakh

Maximum: No limit

Premium

Minimum: Rs.36,720 p.a

Maximum: No limit

Premium Payment Mode

Yearly, half-yearly, monthly or quarterly

Bajaj Lifestyle Secure

Bajaj Lifestyle Secure is a non-linked term assurance plan.

Feature

Description

Entry Age

Minimum: 18 years

Maximum: 50 years

Policy Term

Minimum: 5 years

Maximum: 20 years

Sum Assured

Minimum: Rs.3 lakhs

Maximum: Rs.15 lakhs

Premium

Minimum: Rs.1466

Maximum: Rs.20, 458

Premium Payment Mode

Half-yearly, Yearly, quarterly or monthly

Death Benefit

Sum Assured paid in EMIs for a period equal to tenure of the plan

Features & Benefits of Bajaj Allianz Term Insurance Plans:

The salient features of are listed below:

  • Customers can increase their which depends on the policy term.
  • Customers can avail of both joint and single life cover
  • High sum assured rebate
  • Customers may choose policy terms ranging from 10 years to 30 years
  • Tax benefits under section 80C and 10(10D)
  • Customers can choose to take death benefit in monthly instalments
  • Protection from loan liabilities
  • Life cover up to 100 years (life secure)
  • Offers Accelerated Terminal Illness (TI) risk cover (lifestyle)
  • Offers attractive rates of premium for women (life secure)

Example of Bajaj Allianz Term Insurance Plan:

Ravi Sharma, a 30-year-old non-smoker opts for an I Secure plan for a policy term of 30 years. He insures himself for Rs.2 crores for which he pays an annual premium of Rs.23,327* after a high sum assured rebate of Rs.12,561. In the event of Ravi’s unfortunate death at the 12th policy year, his nominee will receive Rs.2 crores.

*Does not include Edu Cess and Service Tax

Bajaj Allianz Term Plans FAQs:

  1. Q. Are smokers and non-smokers charged differently under the iSecure term plan?

    A. Yes. There are separate premium rates for smokers, non-smokers and preferred non-smokers for a sum assured of Rs.20 lakh and above.

  2. Q. Can premium payment frequency be changed under the iSecure term plan?

    A. Yes. the premium payment frequency can be changed at the time of any policy anniversary during the policy term

  3. Q. What are the tax benefits available under the Bajaj Allianz Isecure more plan?

    A. Premium and death benefit are eligible for tax benefits under Section 80C and Section 10(10D) as per the Bajaj Allianz Isecure more plan.

  4. Q. Can customers avail of loan against the Bajaj Allianz Isecure more plan?

    A. No. Loan facility is not available as per this plan.

  5. Q. What are the three coverage options available under life secure?

    A. Death Benefit plus Accidental Death Benefit, Death Benefit and Accelerated Critical Illness plus Waiver of Premium Benefit.

  6. Q. What is the life cover provided under under life secure plan?

    A. Life cover is provided up to 100 years.

  7. Q. Are any medical tests required for Lifestyle Secure plan?

    A. No tests are required for Lifestyle Secure plan.

  8. Q. What is the death benefit payable under Lifestyle Secure plan?

    A. If the life assured dies or contracts a terminal illness (whichever is earlier) his or her nominee will get the Sum Assured in EMIs.

  9. Q. What is the minimum sum assured under the ISecure term plan?

    A. The minimum sum assured is Rs.2.5 lakh under the ISecure term plan

  10. Q. What are the premium terms available under Life Secure?

    A. Customers can choose from four payment terms - 5, 7, 10 or 15 years.

Other Products from Bajaj Financial Services

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

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Plan Benefits

Payment Options

Policy Coverage

Customer Service

Read Bajaj Allianz Life Insurance news or Enjoy it on the go Google Play

  • CEO of Bajaj Allianz Life Bets on Digital and ULIPs for Financial year 2020

    Ever since Tarun Chugh joined Bajaj Allianz Life as its CEO, his focus has been concentrated towards a one-point differentiation for the company – that is focusing on the living benefits or being able to reap the benefits during one’s lifetime. While this limechanism goes against what life insurance truly stands for (providing death benefit after death to the beneficiary of the policy), Chugh argues that given India’s young population, insurance companies and providers should be assisting investors and policyholders create more wealth during their lifetime through savings and investment instruments. With the driving focus on making more people aware about being insured, Bajaj Allianz will henceforth be focusing more on digitisation and distribution by means of online channels.

    21 May 2019

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Bajaj Allianz Term Insurance Reviews

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  • Bajaj Allianz Life Life Insurance
    " very good service offered"
    0.5 5.0/5 "Blown Away!"
    I am happy with insurance by Bajaj Allianz life insurance. Returns are good. I had a very good service offered by the team the process was completed very quickly without wasting my time. on my comparison with the competitors Bajaj is the best
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 23, 2020
  • Bajaj Allianz Life
    Bajaj Allianz Life Life Insurance
    "good plans and the benefits for all the plans are good"
    0.5 5.0/5 "Blown Away!"
    Bajaj Allianz life insurance provides good plans and the benefits for all the plans are good and price also suits all class of people. The payment mode is convenient and safe. My wife and kids future is safe and secure. Bajaj Allianz made me feel the best an organisation can do
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 22, 2020
  • Bajaj Allianz Life Life Insurance
    "Average policy"
    0.5 3.0/5 "Satisfactory"
    6 months ago, i have purchased the life insurance policy from Bajaj Allianz. Their agent approached to take the policy through the promotional call. I'm paying the premium amount of Rs. 734 on a monthly basis. This policy is not that much beneficial for me. I need to pay the premium amount only for 8 months. They have not explained me about the policy details that much.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 08, 2020
  • Bajaj Allianz Life Life Insurance
    "Good insurer"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance from BAJAJ ALLIANZ on 3 years before. The policy is for 10 years. I am paying premium on monthly package the amount of 2500 rupees which is nominal. The agent has given an information about the policy and It covers only myself.
    Was this review helpful? 0
    , tirunelveli
    Reviewed on Jan 06, 2020
  • Bajaj Allianz Life Life Insurance
    "The services are good I liked it"
    0.5 5.0/5 "Blown Away!"
    My friend recommended me to take the life insurance policy from Bajaj Allianz life. I am a satisfied customer of Bajaj Allianz. The services are good I liked it. All the information is provided on their website also all the policy terms are explained clearly before the policy is taken. Service and assistance are best at Bajaj like no other I appreciate, Thank you.
    Was this review helpful? 1
    , pune
    Reviewed on Dec 27, 2019
  • Bajaj Allianz Life Life Insurance
    " topmost insurance players in the industry"
    0.5 5.0/5 "Blown Away!"
    Bajaj Allianz Life Insurance is one of the topmost insurance players in the industry. They have excellent products and services and have very skillful employees across branches. I would like to recommend this to everyone who is interested in taking a life insurance
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 27, 2019
  • Bajaj Allianz Life Life Insurance
    "Fine policy"
    0.5 5.0/5 "Blown Away!"
    Took my Life insurance policy from Bajaj Allianz. Their customer care service is not good because they have not provided me the bond paper till now hence i visited the Kukatpally branch but till now i did not receive the policy documents. One person called me from the call centre and told me that Bajaj Allianz policy is good and they asked me whether I'm interested or not. Since the benefits are good i chosen them. I need t pay the premium amount of Rs. 800 per month which i need to pay for 8 more months and it covers for 3 years. If any Un-certainity happen, i can utilize the benefits.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Dec 26, 2019
  • Bajaj Allianz Life Life Insurance
    "budget Plans"
    0.5 5.0/5 "Blown Away!"
    Bajaj Allianz life insurance is very flexible. I have taken a policy. The Premium was given as per my budget. Plans and benefits are great, If anyone wants to go a life insurance my first suggestion will be Bajaj Allianz life insurance. Thanks
    Was this review helpful? 1
    , chennai
    Reviewed on Dec 12, 2019
  • Bajaj Allianz Life Life Insurance
    "Unworthy policy"
    0.5 1.0/5 "Really Bad"
    I have purchased my life insurance policy in Bajaj Allianz. Agent approached me to take the policy hence i bought it. I have got 10 years before once i went for the withdrawal after the tenure period, i didn't even get the amount what i have invested in it. Overall, i won't recommend this policy to anyone.
    Was this review helpful? 1
    , tiruchirapalli
    Reviewed on Nov 25, 2019
  • Bajaj Allianz Life Life Insurance
    " they really care about their customers"
    0.5 5.0/5 "Blown Away!"
    I am with Bajaj Allianz life insurance since 3 years, it was suggested by my financial adviser, honestly, there is some good plan and the premium amount they have charged me was nominal, and it has a good feature with lots of benefits. I would like to make a note they really care about their customers. They are prompt while it comes to service.
    Was this review helpful? 0
    , bangalore
    Reviewed on Nov 15, 2019
  • Bajaj Allianz Life Life Insurance
    " I feel very satisfied "
    0.5 5.0/5 "Blown Away!"
    I have taken a policy with Bajaj life insurance, the agent made sure I am clear with the plan and its benefits. I chose Bajaj Allianz because the claim settlement ratio is good I feel very satisfied and secured. I wish to recommend this insurance provided
    Was this review helpful? 0
    , bangalore
    Reviewed on Nov 14, 2019
  • Bajaj Allianz Life Life Insurance
    "Not sure about the current trend"
    0.5 3.0/5 "Satisfactory"
    I have purchased a life insurance policy from Bajaj Allianz. It was a market based policy hence the returns were in a negative. I bought the policy long back and i got the returns in low amount. It was ULIP policy and I have invested the money of Rs. 25,000 which is a one payment has a term for 5 years. When I get the returns it was just Rs. 20,000 but my expectation was around Rs. 50,000.
    Was this review helpful? 1
    , chennai
    Reviewed on Nov 08, 2019
  • Bajaj Allianz Life Life Insurance
    "completely satisfied"
    0.5 5.0/5 "Blown Away!"
    I am a customer of Bajaj Allianz life insurance holding a ULIP plan for 2 years, I am completely satisfied with the terms and conditions of returns. Over a period of time, I have never experienced any issues the service is appreciatable. I am satisfied and I would recommend it
    Was this review helpful? 0
    , bangalore
    Reviewed on Oct 29, 2019
  • Bajaj Allianz Life Life Insurance
    "flexible plan with multiple premium payment "
    0.5 5.0/5 "Blown Away!"
    Purchased an insurance policy for my kid Young Assure - Child Education & Future Plan from Bajaj Allianz life insurance to have my kids future secured. It is a flexible plan with multiple premium payment and policy term options along with this they provide Guaranteed Maturity Benefit and Guaranteed Additions bonuses to ensure a good return. I am really satisfied.
    Was this review helpful? 0
    , bangalore
    Reviewed on Oct 28, 2019
  • Bajaj Allianz Life Life Insurance
    "Fine Policy"
    0.5 5.0/5 "Blown Away!"
    One of my asked me to join in a Bajaj allianz life insurance policy. This is also money back policy. I pay the premium amount of Rs. 5000 and i have chosen the quarterly payment mode. I bought the policy 8 years back. Once the amount got credited to my account.
    Was this review helpful? 1
    , dindigul
    Reviewed on Oct 14, 2019
  • Bajaj Allianz Life Life Insurance
    "Very Good Policy"
    0.5 3.0/5 "Satisfactory"
    Benefits are good in Bajaj Allianz hence i have selected the life insurance policy from them. I have been paying the premium amount of Rs. 3500 per year. Sum assured amount is Rs. 3 lakhs and the policy term is 5 years. I make the premium through online.
    Was this review helpful? 0
    , thane
    Reviewed on Oct 09, 2019
  • Bajaj Allianz Life Life Insurance
    "Best Policy"
    0.5 4.0/5 "Great!"
    My endowment plan was taken from Bajaj Allianz. Its because of the higher returns i have chosen them. I am paying the premium amount of Rs. 25000 on a yearly. I have to pay the premium for 8 years and there is a lock in period of another 8 years because the policy term is 16 years.
    Was this review helpful? 0
    , nalbari
    Reviewed on Oct 06, 2019
  • Bajaj Allianz Life Life Insurance
    "Completely satisfied "
    0.5 5.0/5 "Blown Away!"
    I am completely satisfied with Bajaj Allianz Life insurance. the premium amount which is making the payment yearly. good benefits and Bajaj Allianz is moreover completely digitized makes life easy. An best insurer to my knowledge and experience
    Was this review helpful? 0
    , bangalore
    Reviewed on Sep 19, 2019
  • Bajaj Allianz Life Life Insurance
    "wonderful"
    0.5 5.0/5 "Blown Away!"
    I have a policy with Bajaj Allianz Life Insurance, my experience on the claim was smooth and no cross-questions were asked by the executives. Overall in terms of service, it was wonderful. plans met all my requirement. I would definitely recommend the same
    Was this review helpful? 0
    , bangalore
    Reviewed on Sep 18, 2019
  • Bajaj Allianz Life Life Insurance
    "Best insurance"
    0.5 5.0/5 "Blown Away!"
    I have bought online Term Insurance - Bajaj Allianz Life eTouch Online Term form Bajaj Allianz Life Insurance. It is a shield against financial distress caused due to critical illness, accidental disability and death which ensures that one's family realizes dreams even in the absence of yours.
    Was this review helpful? 0
    , bangalore
    Reviewed on Sep 17, 2019
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