Bajaj Allianz Isecure Loan
Bajaj Allianz iSecure Loan Insurance Plan
Bajaj Allianz iSecure Loan Insurance Plan is a decreasing term plan for any kind of loan protection. It means that the Sum Assured chosen for at the beginning of the tenure keeps decreasing every year, since the loan principle outstanding keeps decreasing every year. If the policyholder dies within the policy tenure, then the Sum Assured is paid out according to the corresponding year of death and the policy terminates. However, if the policyholder lives throughout, then nothing is payable to him on maturity.
Compare this plan with other Term Plans
Bajaj Allianz Isecure Loan - Key Features
Bajaj Allianz Isecure Loan - Benefits
There are 2 possible scenarios:
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Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C
How does Bajaj Allianz iSecure Loan Insurance Plan work?
Eligibility conditions & other restrictions in Bajaj Allianz iSecure Loan Insurance Plan
| Minimum | Maximum | |
| Sum Assured (in Rs.) | 3,00,000 | No Limit |
| Policy Term (in years) | 5 | 25 |
| Premium Payment Term (in years) | 2/3rd the Policy Term | |
| Entry Age of Policyholder (in years) | 18 | 60 |
| Age at Maturity (in years) | 23 | 65 |
| Single premium (in Rs.) | Not available | |
| Payment modes | Yearly, Half-Yearly, Quarterly and Monthly | |
Bajaj Allianz Isecure Loan - FAQs
If the policy holder stops paying the premium, then all benefits of the policy will cease after the expiry of the grace period. It can however be re-instated the policy within 2 years of lapsation by paying up all due premiums with interest.
There are no surrender benefits under this term plan.
Loan facility is also not available under this policy.
There are no additional riders are available in this policy
