Why iSecure as a Term Insurance Plan?
You have always tried your best to fulfill all your responsibilities and take care of your family. However, life comes with risks and unforeseen incidents that can put your family's financial security in jeopardy. Have you thought about a secure term insurance plan?
Presenting the Bajaj Allianz iSecure Insurance Plan; a level cover term assurance plan that secures your family's financial needs by giving you a level term cover for high sum assured, but at a low cost.
What is Term Insurance
Term insurance is a life insurance which provides coverage for the policy term decided between the policy holder and insurer at the onset of the policy.
After this policy term expires the term insurance cover is no longer valid. If the insured dies during this term, the death benefit is paid to the nominee. Thus, term insurance is the most basic, inexpensive and non-complicated insurance policy that you can purchase for your family security.
Types of Term Insurances
There are two kinds of term insurance Plans:
- Annual Renewable Term Insurance Plan which gives cover for one year at a time and then you renew it annually. These plans usually have the lowest annual premium to start but the premium rises as you age.
- Level Premium Term Insurance Plan which you buy for a specific multiyear period such as 5, 10 or 20 years. This plan lets you lock in the premium for that period; the premium never to changes, from the first year to the last.
That's not all
Term insurance policy | Key Features
- Term insurance policy gives tax benefits. You receive tax exemption as per 80C and 10(10D)* of the Indian Income Tax Act.
- Get the advantage of a level term insurance cover at low cost, especially for larger sum assured.
- Term insurance companies reward the insured people for maintaining a healthy life-style, if applicable, with special premium rates for non-smokers and medically fit non-smokers.
- Benefit of attractive high sum assured rebate.
- Your nominee will have the option to take the death benefit in equal monthly installments over a period of 5 or 10 years.
- Select your policy term of 10, 15, 20, 25 or 30 years depending on your requirement.
- Alter your term insurance premium payment frequency.
- Include your spouse at a later date in your existing policy, if you are single at present.
- Plan to meet recurring expenses of your loved ones by opting for payment of benefit in annual installments.
Frequently Asked Questions and Support
The returns as indicated in the Sales Illustration are only illustrative and they are not guaranteed. The illustrative returns do not indicate the upper or lower limits of the return that you may get with your policy and the value is dependent on a number of factors including future performance.
The results displayed in the calculators are based on certain assumptions about the rates of return. Kindly note that the returns are only illustrative and they are not guaranteed. The returns do not indicate the upper or lower limits of the return that you may get with your policy and the value is dependent on a number of factors including future performance.