Bajaj Life I Secure More
Bajaj Life Insurance Limited
Our Verdict
Bajaj Life iSecure More's ROP option and flexible payouts are appealing, complemented by riders like hospital cash and family income. While the base plan is straightforward, it's a solid choice for those wanting customizable financial protection and potential premium returns.
Brochure
About the Plan
Bajaj Life iSecure More is a non-linked, non-participating term plan that increases the sum assured by 5% annually, up to twice the initial amount. It offers flexible policy terms (10–25 years) and premium payment options. The plan allows adding a spouse later and provides premium discounts for higher coverage. In case of the insured’s demise, the prevailing sum assured is paid to the nominee. No maturity or surrender benefits are available, but optional riders can enhance coverage.
About the Plan
Eligibility
• Entry Age :
18 to 65 years
• Maximum Maturity Age :
85 years
• Policy Term :
10 to 25 years
• Minimum Sum Assured :
₹50,00,000
• Premium Payment Term :
Regular Pay
• Premium Payment Frequency :
Monthly, Half-Yearly, or Yearly
• Citizenship :
Indian residents and NRIs (subject to underwriting)
Eligibility
Features of the Product
Death benefits
Bajaj Life iSecure More pays the increasing sum assured on death, with options for lump sum or installment payouts for nominees.
Joint Life cover
Bajaj Life iSecure More offers joint life cover, paying the sum assured on each death, with increasing cover and flexible payouts.
Tax benefis
Bajaj Life iSecure More offers tax benefits on premiums and payouts under Sections 80C and 10(10D) of the Income Tax Act, 1961.
Exclusions
Suicide within the first 12 months of policy inception or revival is excluded, with limited payout as per policy terms.
Death due to participation in hazardous activities like adventure sports, racing, or extreme sports is not covered.
Death caused by involvement in criminal activities, illegal acts, or substance abuse is excluded.
Pre-existing diseases and conditions not disclosed at the time of policy issuance may lead to claim rejection.
Death due to war, terrorism, civil unrest, or military operations is not covered under the policy.
Self-inflicted injuries leading to disability or death are excluded from coverage.
Any death arising from radiation, nuclear contamination, or biological/chemical exposure is not covered.
Death due to intoxication from alcohol, drugs, or non-prescribed substances is excluded.
Claims arising from participation in aviation activities, except as a fare-paying passenger on a commercial airline, are excluded.
Fraud, misrepresentation, or non-disclosure of material facts may result in policy termination without benefits.
Exclusions
Accidental Death Rider - The Accidental Death Benefit Rider for Bajaj Life iSecure More provides an additional lump sum payout if the insured passes away due to an accident. The benefit amount is paid over and above the base sum assured, enhancing overall coverage.
Critical Illness Rider - Coverage includes major illnesses like cancer, heart attack, stroke, kidney failure, and more. Adding this rider enhances the policy’s benefits, ensuring comprehensive protection
Add-ons
If you are a woman
Coverage for gender-specific critical illnesses such as:
Breast Cancer – Lump sum payout upon diagnosis to help with treatment expenses.
Cervical Cancer – Financial support for medical costs and recovery.
Ovarian Cancer – Coverage for diagnosis and treatment.
Pregnancy-Related Complications – Some policies may cover critical maternity-related conditions.
If you smoke
Bajaj Life generally offers lower premium rates for non-smokers on their term insurance plans, including the iSecure More plan.
Note :
Grace period : The Bajaj Life iSecure More plan offers a grace period of 15 days for monthly premium payments and 30 days for other frequencies.
Free look period : The free look period for Bajaj Life iSecure More allows policyholders to review terms and cancel within 15 days for a refund.
Suicide Clause: In case of the policyholder's suicide within 12 months from policy commencement or revival, Bajaj Life iSecure More refunds 80% of total premiums paid.
Still Confused ?
Why OneAssure?
We guide your loved ones every step of the way to ensure they receive the full benefit of their coverage.
About the Company
Bajaj Life Insurance is a leading private life insurance company in India, formed as a joint venture between Bajaj Finserv Limited and Allianz SE founded in August 2001 in Pune headquarters. Known for its strong claim settlement ratio and innovative products, the company emphasizes customer-centric solutions with features like flexible premiums, rider options, and online services. Bajaj combines the financial expertise of Allianz SE with the trust and legacy of Bajaj Group, making it a preferred choice for long-term financial security.
The managing director and CEO of Bajaj Life is Mr Tarun Chugh.
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