Bajaj Allianz iSecure Loan Plan

Bajaj Allianz iSecure Loan is a traditional online term insurance plan designed to cover loans or mortgages availed by the policyholder thus ensuring peace of mind in taking care of the policyholder’s liability even in case of unfortunate death

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₹1 Crore Life cover starting from ₹478/month+
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Key Features

  • It is a pure term insurance plan with regular pay premium paying options
  • The SA corresponds with the outstanding amount of loan
  • The plan can be taken on a single life or joint life with spouse, child or business partner

Benefits

  • The nominee gets the Sum Assured on death of the policyholder in case of single life. If the policy is taken under joint life, on death of the first policyholder, the Sum Assured is paid and the plan continues till the second life is alive or till the end of the term whichever is earlier. Additional SA is paid if the second life also dies prior to maturity
  • The death benefit can be availed in annual instalments over a period of 5 or 10 years where the benefit will be equal to 1.04* death benefit/60 for 5 years and 1.08*death benefit/120 for 10 years
  • Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.

Product Specification:

 

Minimum

Maximum

Entry Age (Last Birthday)

18 years

60 years

Maturity Age (Last Birthday)

28 years

65 years

Policy Term (PT) in years

10

25

Premium Paying Term (PPT) in years

2/3rd of policy term

Premium Paying Frequency

Annual, half-yearly, quarterly, monthly

Yearly Premium

1500

No limit

Sum Assured

3 lakhs

No limit

Policy Details

  • Grace Period: 15 days grace period is allowed for payment of premium in monthly modes and 30 days in other modes.
  • Policy Termination or Surrender Benefit: there is no surrender value under the plan
  • Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Additional Features or Riders

  • The Premium payment term can be altered given the terms and conditions
  • High SA rebates for choosing larger coverage options of 5 lakhs and above
  • 5% additional rebate for buying the plan online

Life Insurer Details

Exclusions

  • In case of suicide committed within 12 months of policy inception or revival only 80% of premiums paid are returned to the nominee.

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ online and provide self-attested copies of KYC/AML Documents.

You May like to Read: Bajaj Allianz Term Insurance Plans

Note: Check all the best term insurance plan in India.

Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.

Premium By Age

˜Top plans are based on annualized premium, for bookings made through https://www.policybazaar.com in FY 25.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

© Copyright 2008-2025 policybazaar.com. All Rights Reserved

+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.

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