Bajaj Allianz iSecure More Term Insurance Plan and Policy

Bajaj Allianz iSecure More Term Insurance Plan and Policy - Bajaj Allianz iSecure More plan is an online increasing traditional term insurance plan available through the company’s website. The plan provides increasing coverage to take care of future requirements at affordable rates.

Key Features - Bajaj Allianz iSecure More Term Insurance Plan and Policy:

• It is a pure term insurance plan that provides an option of regular premium payment.
• Different premium rates are offered for smokers and non-smokers.
• Single life and joint life options are available.
• Easy and hassle-free application process.

Eligibility Details - Bajaj Allianz iSecure More Term Insurance Plan and Policy:

Benefits - Bajaj Allianz iSecure More Term Insurance Plan and Policy:

• The Sum Assured increases by 5% every year to a maximum of 200% of the sum assured chosen at inception.
• The nominee gets the Sum Assured on the demise of the policyholder in case of single life plan. If the policy is taken under joint life, on the death of the primary policyholder, the Sum Assured is paid and the plan continues till the secondary life insured is alive or until the end of the term, whichever is earlier. On the death of the second life prior to maturity, additional sum assured is paid out.
• The death benefit is paid out in annual installments over five or ten years. The benefit is equal be equal to 1.08 times death benefit divided by 120 for 10 years and 1.04 times the death benefits divided by 60 for 5 years.                                                                                                  
• The premium paid by the insured is eligible for tax benefit as per section 80C of Income Tax Act. The claim received also comes under tax-free proceeds under section 10(10D) of the Income Tax Act.