Overview
Bajaj Allianz Life Secure is a nonparticipating, terminsurance plan designed to provide comprehensive financial protection to you and your loved ones. It combines the simplicity of a pure term plan with optional riders that enhance coverage against critical illnesses, accidental death, and disability. The product is suitable for individuals who want a high sum assured at an affordable premium, while also having the flexibility to add extra safeguards as life circumstances evolve.
Life Secure is administered by Bajaj Allianz Life Insurance Company Limited, a joint venture between the Bajaj Group and Allianz SE. The partnership brings together the Bajaj Groups deep understanding of the Indian market and Allianzs global expertise in risk management, creating a product that is both locally relevant and internationally robust.
Key Features
- High Sum Assured: Choose coverage up to INR 10 crores, ensuring substantial financial support for your family.
- Flexible Policy Term: Choose a term from 5 to 40 years, or opt for Life Cover that extends up to age 100.
- Age of Entry: Purchase the policy between ages 18 and 65.
- Level Premiums: Premiums remain constant throughout the policy term.
- Optional Riders: Critical Illness, Accidental Death, Waiver of Premium, and Income Benefit riders can be added at minimal extra cost.
- Tax Benefits: Premiums paid qualify for deduction under Section80C, while the death benefit is taxfree under Section10(10D).
- Free-look Period: 15 days from receipt of the policy document to review and return it for a full refund, if unsatisfied.
Benefits of Choosing Life Secure
Financial security for dependents: In the event of the policyholders death, the nominated beneficiary receives the sum assured immediately, helping to meet liabilities such as home loans, children's education, or daily living expenses.
The plan also provides the following advantages:
- Affordability: Since the policy does not participate in profits, premiums are lower compared with participating policies.
- Customization: Add riders as per your risk profile; deactivate them later if no longer required.
- Simplified underwriting: Minimal medical tests for ages up to 40; standard health questionnaire for ages 4165.
- Quick claim settlement: Claims are processed within 1015 business days upon submission of required documents.
Eligibility Criteria
To purchase Bajaj Allianz Life Secure, applicants must satisfy the following conditions:
- Age between 18 and 65 years at the time of admission.
- Good to average health; severe chronic conditions may affect underwriting.
- Agree to the policy terms, including the freelook period and renewal provisions.
There is no upper age limit for the policys maturity; you can select a term that extends to 100 years, ensuring lifelong coverage.
How to Purchase Life Secure
- Online Purchase: Visit the official Bajaj Allianz Life website, fill out the digital application, upload required documents, and make the first premium payment via net banking, credit/debit card, or UPI.
- Advice from Agents: Reach out to a licensed Bajaj Allianz Life agent for a personalized quote, assistance with medical underwriting, and documentation.
- Branch Visit: Visit a nearby Bajaj Allianz Life branch, where staff will guide you through the application process.
After acceptance, you will receive the policy document within 710 business days. Keep the original document safe; a digital copy can be accessed through the online portal.
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