Protector Plan by Bajaj Allianz is a mortgage term insurance plan that covers the outstanding principal amount of a loan. It is an economical way to protect the family from the burden of repayment of the loan in case of death of the loanee.
The term insurance protector plan is designed to pay a sum insured that will be equal to the outstanding principal amount of the loan due. The Bajaj Allianz mortgage term insurance protector plan offers you the convenience of choosing between two premium payment options Regular Premium Payment and Single Premium Payment. You have the option to cover the co-applicant of the loan under this plan. Under this option, both lives will be covered and the death benefit will be payable in case of death of either life. The policy terminates on death of either life.
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