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.

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Discount on lumpsum premium
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Decreasing Term Insurance Policy
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Loan Tenure of your choice
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Key Features

It is a pure Decreasing Term Insurance Policy where the Sum Assured decreases each year.
This plan has Death Benefit only and no Maturity Benefit.
This policy can be availed for Joint Life also where the spouse can be included at a later date as well.
There is a rebate for large Sum Assured.
The premium payment term is 2/3rd the policy term.
In this plan, you can choose Loan Tenure, i.e. the Policy Term, Loan Interest Rate, i.e. Appropriate Fixed Interest Rate of the Loan, Loan Principle, i.e. the Sum Assured and Premium Payment Mode. There is an additional discount for online policies.
There also a discount for advance payment of premiums in a lumpsum.


Death Benefit

There are 2 possible scenarios:

  • Individual Life - In case the life insured dies within the policy tenure then the prevailing sum assured as on the date of death will be payable as Death Benefit to the nominee and the policy will terminate immediately.
  • Joint Life - If any one of the 2 Joint Life Insured dies within the policy tenure, the prevailing Sum Assured as on the date of death would be paid out and the policy will automatically continue on the life of the other person with a reduced premium. The policy will terminate immediately on death of the second life assured after paying the Sum Assured again.
Income Tax Benefit

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 it works


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


angle down iconYou stop paying the premium

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.

angle down iconYou want to surrender the policy

There are no surrender benefits under this term plan.

angle down iconYou want a loan against your policy

Loan facility is also not available under this policy.

angle down iconRiders are available?

There are no additional riders are available in this policy