5 Popular Life Insurance Plans by Bajaj Allianz Life Insurance

A joint venture of Bajaj Finserv Limited and a European financial company Allianz SE, Bajaj Allianz Life Insurance combines the technical competencies and expertise of Allianz SE along with the market image of Bajaj brand in India to offers a range of life insurance products in the Indian market. The company claims to meet its customers’ unique requirements by offering them a variety of plans, ranging from child plans to health insurance domain.

The following are the term insurance plans offered by Bajaj Allianz Life Insurance:

· iSecure Term Plan: This plan offers you an assured some of high value at an affordable cost to fulfill all the financial needs of your family since life is full of unexpected events and risks.

Benefits: (i) You get Income Tax benefits under section 80C and 10(10D).

(ii) Get assured benefits of large Sum Insured at a low cost.

(iii) Multiple options for term insurance plans, i.e. 10, 15, 20, 25, 30 years.

(iv) After your death, the nominee can take monthly installments for over 5–10 years.

(v) Additional option to include your spouse in the current policy at a later time.

· iSecure More: This increasing cover term insurance plan covers your family’s financial needs over the years. Planned specifically keeping the increasing financial needs of your family, iSecure More plan remains in action with the years going by.

Benefits: (i) There will be an annual increase of 5% in the insurance cover.

(ii) Optional increment of insurance cover by up to twice at the initial level, based on policy terms.

(iii) Policy term choice between 10 to 25 years.

(iv) Tax benefits under section 80C and 10(10D) as per Income Tax Act.

(v) Availability of single and joint (for couples) life.

(vi) Rebate in Sum Assured for different age bands.

· iSecure Loan: This insurance policy protects you and your family against any sort of loan liabilities. Any home loan, personal loan, credit card loan, motor loan, and other loans.

Benefits: (i) Lower insurance cost resulting in reducing loan liabilities.

(ii) Handsome rebate on assured sum.

(iii) Flexibility to choose the loan interest rate when policy starts.

(iv) Choose policy term (10, 15, 20, and 25) based on your loan tenure.

· Life Secure: This life insurance policy covers your life till your 100th birthday since it’s quite difficult for an individual to protect his and family’s life for the lifetime. Mentioned below are the benefits:

Benefits: (i) The insurer gets coverage of accidental death, critical illness, based on the option chosen. Additional benefit to choose from:

(a) Death coverage.

(b) Death plus accidental coverage.

(c) Death coverage or critical illness plus waiver of premium benefit.

(ii) Life coverage up to 100 years of age.

(iii) Handsome rate of premium for females.

· LifeStyle Secure: Everyone has a lifestyle while life can leave anyone at any situation where one fails to support his family anymore. This plan supports your family in terms of their lifestyle by helping them with their financial needs. Following are additional benefits:

Benefits: (i) Regular income to assure your family’s security.

(ii) Coverage of critical illness.

(iii) Quick and easy risk coverage process.

(iv) No medical test required.

(v) Handsome rate of premium for females.

And more.