Bajaj Allianz iSecure is a non-participating online pure term insurance plan. It provides financial protection to one's family in the times of untimely demise of the life insured. The usp of this product is that it covers both yourself and your spouse.

Features and benefits of the plan

• Policy term can range anywhere from 10, 15, 20, 25 and 30 years.
• The premium paying term is equal to the policy term. Also the premium payment frequency (in a year) is flexible under the plan and can be changed as per the needs of the policyholder.
• The policyholder can choose to pay premiums either monthly, quarterly, half yearly or annually.
• While the minimum annual premium is Rs 3,000, there's no ceiling on the maximum amount of the same.
• While the minimum sum assured for general category is Rs 2,50,000, for other categories (smoker, non-smoker and preferred non-smoker) it is Rs 20 lakhs. However, there's no such limit on the maximum sum assured amount.
• Death benefit - the death benefit is paid out over a period of 5-10 years annually. In case of a single life insurance (i.e. Without the spouse), the beneficiary will be paid out this amount immediately. In case of a joint life insurance (i.e. With the spouse), the policy will continue even after the death of one of the life insured members out of the two because the other still survives and in such case the sum assured will be paid out to the beneficiary. Later, additional sum assured amount will be paid out to the nominee in the event of the death of the second life insured.

Eligibility

Individuals falling within the age group of 18 to 60 years are eligible to sign up for this plan. And the minimum and maximum age of maturity is 28 and 70 years respectively.

Note:In case the initial plan is sought only for oneself because one is not married, in the later stage, the spouse can be included in the plan when married.