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 experience"
    0.5 5.0/5 "Blown Away!"
    I have selected the investment policy in Bajaj Allianz. My father has recommended me about this policy. My father has invested the money of Rs. 13 lakhs in the year of 2011 but i have received the good returns with the amount of Rs. 45 lakhs in the year of 2017. This is ULIP policy which the amount has been invested in mutual fund and the staff support also very good. They have helped me to withdraw the policy and my father expired hence the claim experience was very nice.
    Was this review helpful? 0
    , hyderabad
    Reviewed on May 24, 2019
  • Bajaj Allianz Life Life Insurance
    "Too bad policy"
    0.5 1.0/5 "Really Bad"
    The dealer has provided me the policy when i purchased my bike. They have not given any clarity about the policy. I can make the premium through EMI as well. I need to pay Rs. 700 every month. The coverage value is Rs. 25 lakhs. The amount has been deducted through auto debit option. Still i have not received the hard copy of the documents.
    Was this review helpful? 0
    , bangalore
    Reviewed on May 22, 2019
  • Bajaj Allianz Life Life Insurance
    "GOOD"
    0.5 3.0/5 "Satisfactory"
    I am using the life insurance policy with the BAJAJ ALLIANZ LIFE INSURANCE where the customer support and responsiveness is good also the maturity period of this policy is for long term added on that the coverage is for self with this insurance policy.
    Was this review helpful? 0
    , chennai
    Reviewed on May 19, 2019
  • Bajaj Allianz Life Life Insurance
    "Its Good"
    0.5 4.0/5 "Great!"
    In Bajaj Allianz I used to make the premium of Rs.2500 per annum it gave me the sum assured of Rs.2 lakhs its cover my family as well. Its around 8 years old policy, it has pre existing cover with critical illness feature. They got tied up with many hospitals and they do have claim benefits.
    Was this review helpful? 0
    , gurgaon
    Reviewed on May 15, 2019
  • Bajaj Allianz Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in BAJAJ ALLIANZ LIFE INSURANCE. The policy is for 20 years. Now I am paying premium in the yearly package. They charge for high interest. I use to do payments through an online. While getting a policy my agent has given an information about the policy details. The customer service is good and responsiveness.
    Was this review helpful? 0
    , new delhi
    Reviewed on May 13, 2019
  • Bajaj Allianz Life Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I took 20years policy with Bajaj Allianz and am paying the premium for 7 to 8 years, the units are good. They are extending 30days for payment. They will buy units every year on my name and after maturity its based on those units. Am doing yearly premium of 22K and it was taken for savings.
    Was this review helpful? 0
    , hyderabad
    Reviewed on May 12, 2019
  • Bajaj Allianz Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I am having the life insurance policy with the BAJAJ ALLIANZ LIFE INSURANCE where the policy has the coverage for family added on that the maturity period of this policy is for longterm and also the policy has the life coverage and the accidental coverage.
    Was this review helpful? 0
    , kolkata
    Reviewed on May 10, 2019
  • Bajaj Allianz Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using life insurance with Bajaj Life insurance ,their service is good, there agent had explained me clearly about the policy and coverage ,and there premium amount they have charged me was nominal, and i pay on yearly basis, and it use to pay through on line.
    Was this review helpful? 0
    , chennai
    Reviewed on May 08, 2019
  • Bajaj Allianz Life Life Insurance
    "BETTER"
    0.5 3.0/5 "Satisfactory"
    BAJAJ ALLIANZ LIFE INSURANCE is the insurance provider where i am using the EULIP plan since from last ten years, it gives the self coverage and the maturity period of this policy is for 10 years and the policy got matured and got the sum assured too.
    Was this review helpful? 0
    , new delhi
    Reviewed on Apr 29, 2019
  • Bajaj Allianz Life Life Insurance
    "Its Good"
    0.5 4.0/5 "Great!"
    I generally pay the premium Rs. 13,000 to Bajaj Life Insurance on yearly basis. It has the tenure period of five years, based on home loan. I took this policy, they sum assured was good, they explained all the terms and condition but it was not same after enrolling the plan. However the policy comes under tax saving.
    Was this review helpful? 0
    , bangalore
    Reviewed on Apr 29, 2019
  • Bajaj Allianz Life Life Insurance
    "Its Good"
    0.5 4.0/5 "Great!"
    I generally pay the premium Rs. 13,000 to Bajaj Life Insurance on yearly basis. It has the tenure period of five years, based on home loan. I took this policy, they sum assured was good, they explained all the terms and condition but it was not same after enrolling the plan. However the policy comes under tax saving.
    Was this review helpful? 0
    , bangalore
    Reviewed on Apr 29, 2019
  • Bajaj Allianz Life Life Insurance
    "satisfied with child insurance plan"
    0.5 5.0/5 "Blown Away!"
    I hold a life child insurance plan (Young Assure - Child Education & Future Plan) with Bajaj Allianz Life. It has Multiple premium payment and policy term options along with this they provide Guaranteed Maturity Benefit (GMB), Guaranteed Additions (GA) and bonuses to ensure a good return. I am really satisfied with the plan. Interested folks can check here: https://www.bajajallianzlife.com/child-plans/young-assure.jsp
    Was this review helpful? 0
    , bangalore
    Reviewed on Apr 26, 2019
  • Bajaj Allianz Life Life Insurance
    "I recommend ULIP plan"
    0.5 5.0/5 "Blown Away!"
    I hold a ULIP policy with Bajaj Allianz Life from last 3 years, Customer service is appreciable. I am completely satisfied with the terms and conditions on returns. I pay my premium once in a year and have never experienced any issues with Bajaj Allianz Life. I recommend to the people who are looking for ULIP plans check out: https://www.bajajallianzlife.com/ulip/ulip-plans.jsp
    Was this review helpful? 0
    , pune
    Reviewed on Apr 26, 2019
  • Bajaj Allianz Life Life Insurance
    "Good Returns ."
    0.5 4.0/5 "Great!"
    Nowadays Bajaj insurance is very useful for taking a long term plan . They are providing a good returns for the customers after the completion of the maturity time . I taken a plan for 20 years term period and I need to pay a premium of yearly basis .
    Was this review helpful? 0
    , bangalore
    Reviewed on Apr 26, 2019
  • Bajaj Allianz Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have taken the life insurance policy which has been provided by the company the policy coverage is for 30L for family. The premium paid by the company and using it since from last few years. The policy has no issues and overall the service is good.
    Was this review helpful? 0
    , kadapa
    Reviewed on Apr 19, 2019
  • Bajaj Allianz Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have taken the life insurance policy of TERM PLAN with the BAJAJ ALLIANZ LIFE INSURANCE where it is the corporate insurance policy and the premium paid by the company added on that the policy coverage is for self but not aware of the sum assured value.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 09, 2019
  • Bajaj Allianz Life Life Insurance
    "All types of risk covered"
    0.5 3.0/5 "Satisfactory"
    Bajaj insisted me to take life insurance policy when I took housing loan from them . Sum assured is Rs 25 lakhs for next 8 years . They never share the physical documentation for my Housing loan and insurance policy . From the compulsion made by Bajaj I took this policy .
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 08, 2019
  • Bajaj Allianz Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have purchased the BAJAJ ALLIANZ LIFE INSURANCE where i am satisfied with the returns with this insurance policy ,and the agent had clearly explain me about the plan benefits,and policy coverage ,and the premium amount i use to pay on yearly basis through on line.
    Was this review helpful? 0
    , faridabad
    Reviewed on Apr 02, 2019
  • Bajaj Allianz Life Life Insurance
    "AVERAGE"
    0.5 3.0/5 "Satisfactory"
    I have purchased the BAJAJ ALLIANZ LIFE INSURANCE where i am not satisfied with the returns with this insurance policy and the maturity period of this policy is for 10-15 years. It gives the self coverage also the life coverage and the accidental benefits till the maturity period.
    Was this review helpful? 0
    , bangalore
    Reviewed on Apr 01, 2019
  • Bajaj Allianz Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    My company had provided me life insurance with Bajaj allianz, their service is good, the agent had explain me about the policy coverage,and about plan benefits clearly, they only pay premium amount on behalf of me, till now i have no issue i have faced.
    Was this review helpful? 0
    , malappuram
    Reviewed on Mar 27, 2019
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