Bajaj Allianz Term Life Insurance Plan iSecure for NRI

NRIs (Non-Resident Indians) are individuals whose descent, origin, or birth can be traced to India. These individuals live outside their home country, thereby called Non-Resident Indians. NRIs may be living abroad for different reasons such as to pursue higher education, to get employed in foreign countries, etc. 

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98.5% Claim Settlement Ratio
High Solvency Ratio
Life + Health Insurance Combo
Cover Spouse in Same Plan
Child Education Cover
Accidental Death Benefit

Why Bajaj Allianz Life Insurance?

×
  • 98.5% Claim Settlement Ratio

    With claim settlement ratio of 98%, the company ensures your loved ones receive the financial support needed in your absence, hassle free.

  • High Solvency Ratio

    “The Solvency Ratio reflects a company’s financial capability to settle claims. With a Solvency Ratio of 745%, which is more than 4 times the regulatory norm, Bajaj will always be there to fulfil their promises to you.”

  • Life + Health Insurance Combo

    Along with life insurance, an add-on 1 Crore Health Insurance cover financially protects you from all possible illnesses, be it Cancer, Heart problems or an accident. This guarantees complete peace of mind at a very reasonable price

  • Cover your Spouse in Same Plan

    "Husband and wife both are covered in a single plan. Spouse can get same life cover & policy term"

  • Child Education Cover

    “On the death of the parent, additional cover is paid out to secure your child’s education The benefit is applicable till the child is below age of 25 years”

  • Accidental Death Benefit

    “One death every minute in India happens due to a road accident. This optional benefit provides your loved ones additional payout in case death happens due to an accident”

+Tax benefit is subject to changes in tax laws.

++All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

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If you fall under the NRI category, it is likely at some point in life, you have thought of securing your family back in India. Term insurance is one of the basic types of life insurance as the premiums rates are low for a high cover. It is a smart solution for those who are looking to secure short-tenure life objectives. Bajaj Allianz Plan iSecure Plan offers a comprehensive range of term insurance plans for NRIs. Let us look at the Bajaj Allianz Term Insurance plan iSecure for NRI.

Can NRIs Buy Bajaj Allianz Term Insurance iSecure Plan for NRI

Simply put, NRIs are allowed to invest in Bajaj term insurance plans to secure their families back in India. The Foreign Exchange Management Act (FEMA) permits this transaction with any kind of reservation. The procedure involved in buying a term insurance plan is somewhat similar for both Indian residents and Non-Resident Indians (NRIs).

About Bajaj Allianz iSecure Term Insurance Plan For NRI

Bajaj Allianz iSecure Term Insurance plan is a non-participating, non-linked, life, individual, limited and regular premium pure risk premium policy that secures your family’s financial requirements.

Key Features of Bajaj Allianz iSecure Plan

Here are the key features of Bajaj Allianz iSecure Term insurance plan:

  • The benefit of level term cover is low premium rates, majorly for larger sum assured amount

  • Awards for maintaining a healthy lifestyle

  • Special premium rates for non-smokers

  • Rebates on high sum assured

  • Flexibility to choose your policy tenure based on your requirements

  • You can change your premium frequency easily

  • Option to include your partner

  • Option to increase the coverage with add-on rider benefits

Eligibility Criteria of Bajaj Allianz iSecure Term Insurance Plan

Parameters Minimum Maximum
Entry Age 18 years 65 years
Maturity Age 28 years 85 years
Sum Assured 25 Lakhs 50 Lakhs
Minimum Installment Premium Annually: 3000
Half-yearly: 1500
Quarterly: 750
Monthly: 250

The process to Buy Bajaj Allianz iSecure Term Insurance Plan in India

If you are an NRI who is looking out to purchase term insurance from the Indian insurance industry, the first and foremost thing you should look into is the process involved. Generally, NRIs looking to buy insurance plans in India can opt for any one of these two options:

  1. Buying a term insurance plan when in India

    If you as an NRI take a trip back to India at least once a year, then it can be an excellent opportunity to invest in a term insurance plan. If you buy a term plan during your trips to India, the process is somewhat similar to what is followed by an Indian resident. Let us look at the procedure of buying the Bajaj Allianz iSecure Term Insurance Plan:

    • Contact the insurance company directly or via an insurance agent and apply for investing in the term insurance plan of your choice.

    • The insurance company analyzes the case and asks for a medical/health history if needed.

    • The insurer will also consider his/her residential country and if they provide insurance services for residents of that country, then they will take your proposal to invest in plan.

    • You will be needed to pay a premium amount as per the terms of the plan you have chosen.

  2. Buying a term insurance plan abroad

    • If you are not going home in the near future, or if you are looking out to invest in a term plan, then you can buy a term plan from your residential country.

    • This is useful if you have loved ones back in India since it is easier for your nominees to raise a claim in the unforeseen event of your death if the insurance company is based in India. On the contrary, if your company is based in your residential country, your loved ones may find the procedure long and quite difficult.

    • Generally, the term plan is purchased from an Indian insurance company through online mode. It could be from an insurer’s website directly or through a web aggregator. This verification is performed by the official of the Indian embassy or notary or Indian diplomat.

    • Moreover, if the Indian insurer requires you to undergo a medical test before buying a term insurance plan, you will have to go through it. The medical documents can be directly mailed to the company after investing in the term plan.

Why Buy Term Life Insurance from Policybazaar Why Buy Term Life Insurance from Policybazaar

Documents Required for Bajaj Allianz Term Insurance For NRI

  • An attested passport copy

  • Completely filled proposal or application form

  • ID proof

  • Age proof

  • Address proof

  • Income and earning proof

  • Medical examination reports at the time of application

Additionally, you will also be needed to pay the company a sum of money equal to the 1st premium installment, as mentioned in the terms of the plan you select.

Important Things to Consider About Bajaj Allianz Term Insurance for NRI

  1. Important of residential country

    Your residential country plays a significant role in determining if you are entitled to a term insurance plan from an Indian insurance company. Various insurers have a country list in which they do not provide any service. So it is advisable to check before buying a plan whether your insurer offers services in your residential country or not.

  2. Term of the Insurance plan

    The term of the plan is the time from when the policy has been bought till expiry or maturity. Buyers can select term insurance plans with different premium payment term/policy term combinations. Premium tenure can be up to 30 years or entire life, based on the plan chosen.

  3. Life cover

    Term plans are pure protection plans that offer a life cover to the policyholder. This simply means that in case the life assured dies before the plan expires, the insurance company pays out the death payout to their beneficiaries/nominees. These benefits are in the lump sum form called sum assured. Your life coverage needs to be sufficient which further helps your family in case of an unfortunate demise.

  4. Premium amount

    The premium amount charged by the company depends on a number of parameters which are:

    • Term of the plan

    • Life cover under the plan

    • Frequency of premium payment

    • Presence of any riders over and above the policy

Types of Term Plans


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Bajaj Allianz Term Life Insurance Plan iSecure for NRI Reviews & Ratings

4.6 / 5 (Based on 9 Reviews)
(Showing Newest 9 reviews)
Isha
Delhi, September 02, 2021
Average Benefits
I have taken term insurance policy of Bajaj Allianz from policy bazaar and it was referred by one of my relative. I am paying monthly premium of Rs.3000 through online as well have enabled auto debit option. The benefits are average. I need to pay the premium till MAY 2022 and it was taken in the year of 2016. Happy to be their customer.
Niharika
Barapalli, April 05, 2021
Claim is easy
It is very easy to file for a claim for the term plan of bajaj Allianz. I bought this plan from the website of the policybazaar. The assistance given by the team of policybazaar and bajaj Allianz is good. They helped my friend in getting claim and that’s why I bought this plan from them. Thanks team.
Dinesh
Qadian, March 30, 2021
Get online updates
For my term insurance plan which I bought of bajaj Allianz, I got various updates at one place. I got to know about my plans and details regarding the same. It is convenient to use and understand. Thank you so much policybazaar.
Bhanu
Bagha Purana, March 30, 2021
Claim is easy
It is very easy to file for a claim for the term plan of bajaj Allianz. I bought this plan from the website of the policybazaar. The assistance given by the team of policybazaar and bajaj Allianz is good. They helped my friend in getting claim and that’s why I bought this plan from them. Thanks team.
Deepanshu
Asifabad, March 23, 2021
Get online updates
For my term insurance plan which I bought of bajaj Allianz, I got various updates at one place. I got to know about my plans and details regarding the same. It is convenient to use and understand. Thank you so much policybazaar.
Renu
Dabugam, February 16, 2021
Satisfied and happy
I am one of the happiest customer of policybazaar. I bought the bajaj Allianz term insurance plan 2 years back and having a good experience. Thanks team.
Lakshya
Baarod, February 16, 2021
Easy to pay
It is really easy to make the payment for the premium amount of the term insurance plan. I bought it online and has been making the payment on online basis. It is easy and hassle free. I bought the bajaj Allianz term plan from policybazaar.
Bhanu
Chapra, August 16, 2016
Term plan
The bajaj allianz term insurance policy of mine is good. The policy has low premium investments and the output is high. Claiming is simple and sanctioning amount is easy due to quick service given by the company members. Easy renewals through online portal service.
Abhinav
Ahmednagar, July 15, 2016
Good Service
My term insurance plan is fantastic and i bought it from bajaj life insurance. The service is fast and on time. Policy coverage is high and claims are even better. The internet portal is very simple to use and anybody can access it easily.
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