Bajaj Allianz Health Insurance is all about savings for income tax benefits

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. 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.

Best Term Insurance Plan review by i-save.com as featured in The Economic Times Wealth, Bajaj AllianziSecure scores a 4 star rating in Price, Features, Servicing and Overall Performance.

Key Features

Premium rate

Bajaj Allianz iSecure Insurance Plan provides separate sets of premium rates for sum assured less than Rs.2,000,000 and for sum assured of Rs.2,000,000 and above. The plan provides you with a separate set of premium rates for the lifestyle categories - Preferred Non-Smoker, Non-Smoker, and Smoker, but only for sum assured of Rs.2,000,000 and above.
Policies can be taken through the web also for sum assured of Rs.2,000,000 and above. Web rebates are available for these policies. The web premium rates are available here with the complete benefit illustration.
The table below shows the premiums for an age of 30 years and a sum assured of Rs.2,500,000 under all the lifestyle categories and for various policy terms:

Lifestyle Category	Policy Term (Years)
	10	15	20	25	30
Smokers	3803	3973	4266	4753	5387
Non-Smokers	3469	3561	3723	4047	4486
Preferred Non-Smokers	3258	3353	3488	3780	4208

Benefits a) Additional Rider Benefits You can enjoy extra coverage by choosing the optional additional rider benefits at a nominal extra cost. The riders available with Bajaj Allianz iSecure Insurance Plan are: Bajaj Allianz Comprehensive Accidental Protection Benefit* Bajaj Allianz Critical Illness Benefit** Bajaj Allianz Hospital Cash Benefit** (Please refer to Additional Rider Benefit brochures for more details) * The Bajaj Allianz Comprehensive Accidental Protection (CAP) rider includes the accidental death benefit, accidental permanent total/partial disability benefit and waiver of premium benefit. **Hospital Cash Benefit and Critical Illness Benefit riders can be taken only at inception of the policy. b) Option to Take an Individual or a Joint Life Policy If you are married at policy inception, then your spouse can be included only at the inception of the policy. If you were not married at policy inception, you may include your spouse after your marriage in your existing individual policy. Such inclusion can happen at any policy anniversary subject to: all the necessary procedures with respect to the inclusion being completed prior to the policy anniversary. the policy term post inclusion of your spouse (i) has to be equal to the outstanding term of your policy and (ii) subject to such policy term being available under the plan, and satisfactory evidence of insurability, being submitted as specified by the company. In a joint life policy, on annulment of marriage, the spouse will be excluded from the policy. However, you can continue the policy on your life by informing the company and paying premiums with respect to your life; this will be calculated based on the age, lifestyle category (if applicable), sum assured and policy term as at the inception of the policy. Once excluded, the second life cannot be included in the policy again. If the annulment is not informed to the Company, on the death of the second life, only the sum total of the premiums paid from the date of separation (over and above the premium required for your individual policy), will be refunded. But the policy may be continued on your life. c) Alteration of Premium Payment Frequency You can change the premium payment frequency at any policy anniversary during the term of the policy, subject to the minimum premium limits under the plan. d) Option to Take Death Benefit in Annual Installments Your loved ones may not be in a position to determine the best suitable financial plan or to invest the policy proceeds to support their lifestyle, in case of your unfortunate demise. We offer your nominee (both under the individual and joint life option) the option to receive the policy proceeds in annual installments over a settlement period of 10 years from the date of death This option needs to be informed in writing to the company at the time of filling the "Death Claim Form." The annual installment will be an amount equivalent to (100% + x%) of sum assured divided by 10 years. The x% will be decided by the company at the time of admitting the death claim and will remain the constant throughout the settlement period. How to Choose the Best Term Insurance Plan Let's understand the basics of term insurance for the less finance-savvy readers Excellent - Relative Ranking Read this Bajaj Allianz iSecure Insurance Plan Product Review and Scorecard by i-Save Ratings Other Insurance FAQ's How much insurance cover can be provided to a non working woman? What riders can be provided to the non working and the working women? Can we increase or decrease Sum Assured in future? What will happen if the I start drinking or smoking after taking the policy? Top --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Parameter Eligibility Minimum Entry Age 18 years Maximum Entry Age 60 years Minimum Sum Assured Rs.250,000 for general category and Rs.2,000,000 for the categories split by Preferred Non-Smoker, Non-Smoker & Smoker Maximum Sum Assured No Limit Policy Term 10, 15, 20, 25 & 30 years Minimum Installment Premium Sum Assured Yearly Half-Yearly Quarterly Monthly* < Rs.2,000,000 Rs.1000 Rs.500 Rs.250 Rs.100 >= Rs.2,000,000 Rs.3000 Rs.1500 Rs.750 Rs.250 Minimum Maturity Age 28 years Maximum Maturity Age 70 years