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Bajaj Allianz iSecure More Insurance Plan


This is an increasing cover term plan, wherein the insurance cover goes up by 5 per cent every year on renewal.

What does it do?

This policy increases the sum assured by 5 per cent on each annual renewal, up to a maximum of twice the basic sum assured without any increase in the premium. The policy can be taken as both, individual or joint cover. On policyholder's death, the prevailing sum assured is paid to the dependents. The choice to receive death benefit, as lump sum or 10 annual installments, rests with the nominee. This choice has to be indicated to the company at the time of raising the claim.


The joint policy option is useful for couples who cannot afford separate policies. Three rider options- accident protection, critical illness and hospital cash benefit enhance the scope of cover.
Premium rebates can be availed on sum assured above Rs 5 lakh and advance premium payments.
The automatic annual increase in cover tries to match inflation in the long run.
Policyholder can change the premium frequency on policy anniversary.
Nominees can choose to receive the insurance claim as lump sum or regular payout as per their need.


A 5% increase may not match the annual inflation rate.

Suited for

Youngsters who expect life insurance needs to rise with future responsibilities, can go for the plan as it would increase the sum assured annually.  

Our View

The maximum policy term is limited to 25 years. Make sure that you are covered until  retirement or till someone else replaces you as breadwinner for the family. Nothing comes for free. These policies charge higher premiums as compared to ordinary term plans where sum assured remain constant throughout the policy term.

Entry Age (years) 
Maximum Maturity Age (years)70
Policy Term (years) 
Sum Assured (Rs) 
MaximumNo limit
Minimum Premium (Rs) 
Premium Payment FrequencyYearly, Half-Yearly, Quarterly, Monthly
Premium Payment TermEqual to Policy term
Premium Factor (multiply with annual premium)Semi Annually: 0.51
Quarterly: 0.26
Monthly: 0.09
Policy CoverCover keeps increasing @5% every year upto maximum of twice the initial basic Sum Assured.
Other Features 
Free Look CancellationIn case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered.
Grace PeriodYou are allowed to pay premiums within 30 days from the due date for Yearly, Half yearly and quarterly premium payment modes and 15 days in case of monthly premium payment mode.. If a due premium is not received within the grace period, your policy will lapse and the life insurance cover will be terminated.
Lapsed Policy ReinstatementYou can reinstate your lapsed policy any time (within 2 years from the due date of the first unpaid premium) by paying all the due premiums with interest and undergoing underwriting requirements, if any.
Tax BenefitsSection 80C, 10(10D) of the Income Tax Act, 1961 would apply.
ExclusionsIn case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable.
Surrender ValueThere is no surrender benefit. However, in case of advance premium payment, on death or surrender, discounted advance premiums paid but not yet due will be refunded without any interest.
Customer Service 
AddressBajaj Allianz Life Insurance Company Limited,
G.E. Plaza, Airport Road, Yerawada, Pune - 411 006.
Mail To[email protected]
Call OnBSNL/ MTNL: 1800 22 5858; Others: 1800 209 5858
SMSLIFE to 56070
Available Rider(s)Bajaj Allianz Comprehensive Accidental Protection Benefit (CAP): Death due to accident within 180 days of the accident.
Permanent total/ partial disability as a result of an accident within 180 days of the accident. The rider Sum Assured can be received as a 10 year annuity as well. The annuity payable would be 110% of the benefit.
Waiver of Premium in case of total permanent disability.
Bajaj Allianz Critical Illness Benefit: It covers 11 critical illnesses namely: First Heart Attack, Coronary Artery Disease requiring surgery, Stroke, Cancer, Kidney Failure, Major organ transplantation, Multiple Sclerosis, Aorta Graft Surgery, Primary Pulmonary Arterial Hypertension, Alzheimer's Disease and Paralysis. There is a waiting period of 6 months from inception of the policy to claim the critical illness benefit.
Bajaj Allianz Hospital Cash Benefit: It covers room charges. It pays a Daily cash amount subject to certaim conditions stated in the policy document.
Rider Conditions 
Entry Age (years) 
Maximum Maturity Age (years)65
Rider Term (years) 
MaximumEqual to base policy term
Sum Assured (Rs) 
MinimumCritical illness Benefit rider: 50000
Bajaj Allianz Hospital Cash Benefit: 200 per day
MaximumPermanent Total Disability: Rs 50 lakh and Permanent Partial Disability: Rs 25 lakh
Bajaj Allianz Hospital Cash Benefit: 1000 per day
Rider Premium (Rs)Rider premiums vary for each policyholder. For instance, if a 30-year old opts for the CAP rider for Rs 5 lakh sum assured over a 10 year tenure; the annual CAP rider premium works to Rs 355. Similarly, Critical Illness benefit of 5 lakh for a policy tenure of 10 years costs Rs1350 per annum and Hospital cash benefit is available for Rs 460 per year.
Annual premium option for Male and Female under single Life Policy
Policy Term (in Years)Age (in Years)
Figures indicate premiums on a Rs 20 lakh policy across different age over different policy tenures exclusive of service tax.