Bajaj Life Insurance Limited – Bajaj Life iSecure II with sum assured up to Rs. 1 crore starting at Rs. 34/day***
Product highlights
Key features and benefits of this policy
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Flexible premium payments:
You can choose how you want to pay—either throughout the policy term or just for a few years. Pick what fits your budget and comfort.
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Early Exit Value:
If you feel your coverage needs are already met, you can exit the policy early and get back the premiums you’ve paid. (i.e. Early exit Value2)
2Early Exit Value is available with Variant 1 - Life
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Payouts in easy instalments:
Your nominee doesn’t have to take the entire amount at once. They can choose to receive the payout in equal monthly instalments over 5, 10, 20, 30, or even 40 years or combination of both3.
3Available with variant 1 - Life and variant 2 - ROP variants
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Choose how you want to pay premiums:
Pay monthly, quarterly, half-yearly, or annually—whatever works best for your cash flow.
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Tax benefits:
You can avail tax benefits as per the rules of the Income Tax Act, helping you save more while staying protected.
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Comprehensive riders:
You can boost your policy’s protection by adding riders that give you extra protection when you need it the most.
Eligibility criteria and documents required
Anyone can apply for the Bajaj Life iSecure II as long as they meet these basic criteria mentioned below. If you meet all the eligibility criteria, we will need a set of documents to complete your application process.
Eligibility criteria
- Nationality: Indian
- Age: 18 years to 65 years
Documents required
- Photograph of the proposer
- Age proof, such as PAN card, passport, voter’s ID, birth certificate.
- Address proof, such as telephone bill, electricity bill, Aadhaar card, etc.
- Identity proof such as Aadhaar card, passport, PAN card, etc.
- Income proof such as form-16, salary slips, employment certificate, etc.
Step-by-step guide to buy this policy
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Step 1
Click on ‘Get Quote’ to open our online application form.
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Step 2
Enter the required details – amount that you want to invest, name, date of birth, and contact number.
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Step 3
Choose your preferred plan from the list of products shown by clicking ‘Buy Now’.
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Step 4
Our representative will call you back and explain the products available for you to take an informed decision.
Policy details
Here’s a quick look at the policy details of Bajaj Life iSecure II:
| Policy details | Description |
|---|---|
| Policy type | Individual |
| Minimum premium amount (in Rs.) | Premium depends on the minimum and maximum sum assured of your policy |
| Minimum sum assured (in Rs.) | 25 lakh |
| Maximum sum assured (in Rs.) | No limit |
| Policy term (PT) and Premium payment term (PPT) | For limited pay: Policy term – 10 to (85 minus age at entry) | premium payment term – 5; Policy term – 11 to (85 minus age at entry) | premium payment term – 10; Policy term – 16 to (85 minus age at entry) | premium payment term – 15; Policy term – 21 to (85 minus age at entry) | premium payment term – 20; Policy term – 26 to (85 minus age at entry) | premium payment term – 25 For regular pay: Policy term – same as Premium Payment Term | premium payment term –10 to (85 minus age at entry) |
| Premium payment frequency | Yearly, half-yearly, quarterly, and monthly. |
Key inclusions and exclusions
Here’s a quick look at the inclusions and exclusions under the Bajaj Life iSecure II:
- Key inclusions
- Key exclusions
| Key inclusions | Description |
|---|---|
| Maturity benefit | Variant 1 – Life: Not applicable on survival till the end of the policy term. No benefit is payable. The policy will be terminated immediately and automatically on the maturity date. Variant 2 – ROP: Sum assured on maturity will be paid out on the maturity date. The policy will terminate immediately and automatically on payment of the maturity benefit. At the inception of the policy, you will have the option to take the maturity benefit in instalments. (i) At maturity, the maturity benefit payable shall be paid out in yearly instalments over the next five (5) years. (ii) The amount of each instalment will be [120% *maturity benefit/5] and will be paid out yearly, starting from the date of maturity. Note: • The option to select lump-sum payout or instalment payouts is available at inception only & cannot be changed later during the policy term. There is no difference in premium rates in the two options. • In instalment payout, the instalments cannot be taken in any other mode apart from yearly payouts. |
| Death cover | Sum assured on death will be payable to your nominee as a lumpsum. Death cover will not be less than guaranteed death cover i.e. 105% of the total premiums paid up to the date of death. The policy will terminate immediately and automatically on your death. |
| Key exclusions | Description |
|---|---|
| Suicide | The nominee will receive at least 80% of the total premium paid or the surrender value /termination value. Only if the insured commits suicide within 12 months of risk commencement of risk or date of latest policy renewal, whichever is later. |
Product information
For complete details on product benefits, features, terms and exclusions, please read the product sales brochure and policy wordings carefully before concluding a sale.
How to raise a claim
Follow these steps to raise claim requests for Bajaj Life iSecure II.
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Step 1 - Register your claim request
Register the claim request with the insurer through their website, e-mail or by calling their claim assistance contact number.
Contact No.: 020-6712-1212
Email at: customercare@bajajlife.com -
Step 2 - Submit the required documents
Submit the necessary documents along with the duly filled claim form online. You can also submit it to the nearest branch of the insurer.
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Step 3 - Claim settlement
The insurer will assess the claim request. The claim initiator will receive the status via e-mail and SMS. The claim initiator can also check it online on the insurer’s website.
Documents required for raising a claim request
Here is the list of documents that you need to raise a claim for Bajaj Life iSecure II.
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Original policy documents
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Attested copy of death certificate issued by local municipal authority
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Death claim intimation form
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NEFT mandate form attested by bank authorities or copy of cancelled cheque or bank account passbook
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Nominee's photo identity and address proof. This includes copy of passport, voter identity card, Aadhaar (UID) card, etc.
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FIR copy or post-mortem report in case of an accidental/unnatural death
Frequently asked questions
Variant 1 – Life: Not applicable on survival till the end of the policy term. No benefit is payable. The policy will be terminated immediately and automatically on the maturity date.
Variant 2 – ROP:
Sum assured on maturity will be paid out on the maturity date. The policy will terminate immediately and automatically on payment of the maturity benefit. At the inception of the policy, you will have the option to take the maturity benefit in instalments. (i) At maturity, the maturity benefit payable shall be paid out in yearly instalments over the next five years. (ii) The amount of each instalment will be [120% *Maturity benefit/5] and will be paid out yearly, starting from the date of maturity.
Note: • The option to select lump-sum payout or instalment payouts is available at inception only and cannot be changed later during the policy term. There is no difference in premium rates in the two options. • In Instalment payout, the instalments cannot be taken in any other mode apart from yearly payouts.
The nominee will receive sum assured on death as a lumpsum. Death cover will not be less than guaranteed death cover i.e. 105% of the total premiums paid up to the date of death.
Yes, you can switch your premium payment frequency—monthly, quarterly, half-yearly, or yearly—at any policy anniversary. This flexibility allows you to align payments with your budget and cash-flow needs without affecting your policy benefits.
Yes, premiums paid and death cover under this plan may qualify for tax benefits as per prevailing income tax laws. These benefits help reduce your taxable income while you continue securing financial protection for your family.
