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Bajaj Allianz iSecure Insurance Plan


This i term plan is available for purchase, both online and offline. Online policies get a discount on premium rates.

What does it do?

This plan can pay sum assured either as lump sum or in 10 annual installments. As a  joint life policy, the plan pays sum assured on death of each insured life.
After paying the death benefit for an insured partner, the policy continues to cover the surviving life with a reduced premium rate. The reduction in premium rate will depend on age, lifestyle, policy term, premium payment frequency and sum assured of the surviving partner.
There is no maturity or surrender benefit.
This policy offers a unique option to include spouse under same policy, if the applicant was single at the time of purchase.


Premium rebates can be availed by- high sum assured policies, non-smokers, preferred non-smokers and online purchase.
The spouse can be insured at a later date under the existing policy.
One can alter the premium payment frequency at any policy anniversary.
The policyholder can choose to receive death benefit in 10 equal annual installments to safeguard a regular income for the family.
One can increase the cover by adding various riders.

Suited for

This policy suits those looking to insure self and spouse under the same policy. Young individuals looking to get married may also go for it.

Our View

This term insurance policy can offer wide protection with riders. Joint life cover can be meaningful for a couple. Individuals following a healthy lifestyle (non-smokers) are rewarded with lower premium rates.

Entry Age (years) 
Maximum Maturity Age (years)70
Policy Term (years) 
Sum Assured (Rs) 
MinimumGeneral Category: Rs 2.5 lakh
Smoker/ Non Smoker/ Preferred Non Smoker Category: Rs 20 lakh
MaximumNo limit
Minimum Premium (Rs) 
Yearly1000 for SA< Rs 20 lakh, 3000 for SA> 20 lakh
Half-Yearly500 for SA< Rs 20 lakh, 1500for SA> 20 lakh
Quarterly250 for SA< Rs 20 lakh, 750 for SA> 20 lakh
Monthly100 for SA< Rs 20 lakh, 250 for SA> 20 lakh
Premium Payment FrequencyYearly, Half-Yearly, Quarterly, Monthly
Premium Payment TermEqual to Policy term
Policy CoverCover remains same throughout the policy term
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.
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. In case of death during the annuity period, discounted value of remaining installments will be paid in lumpsum to the nominee.
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: covers hospital bills (room charges) after a waiting period of 60 days from the inception date. It also pays a Daily Cash benefit of minimum
Rider Conditions 
Entry Age (years) 
Maximum Maturity Age (years)70
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 Smoker 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.
Annual Premium Option for Non Smoker 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.
Annual Premium Option for Preferred Non Smoker* 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.
*Preferred Non Smoker: A non smoker who has no abnormalities in his medical examination/ tests or family/ personal history; has no risky avocation and does not have a risky occupation, as decided by the company, is classified as s Preferred Non Smoker. Preferential premium rates are applicable to those falling under this category for Sum Assureds of Rs 20 lakh and above subject to medical examination/ tests as decided by the company.
Rebate on Joint Life Policy
Age of older Life AssuredPremium Rebate (% of total Gross Premium*applicable to individual lives)
<= 405
41 to 503
>= 511
* Total Gross Premium is the total of the calculated premiums for each individual life after allowing for any High Sum Assured Rebate for each individual life