II

A Non-Linked, Non-Participating, Individual Life Insurance Term Plan

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A Non-Linked, Non-Participating, Individual Life Insurance Term Plan

SECURING MY FAMILY FROM ALL

ODDS IS THE TOP PRIORITY
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A Non-Linked, Non-Participating, Individual Life Insurance Term Plan

About Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance Co. Ltd., one of India’s leading private life insurers, is a joint venture between Bajaj
Finserv Limited, one of the most diversified nonbanking financial institutions in India, and Allianz SE, one of
world’s leading global insurer and asset manager. This joint venture Insurance Company incorporates global
expertise with local experience.

Bajaj Allianz Life iSecure II

You have always tried your best to fulfill all your responsibilities and take care of your family. However, life is
full of uncertainties, and we need to ensure that our families are well provided for.
Presenting…Bajaj Allianz Life iSecure II; a non-linked, non-participating, individual, regular/limited premium
payment, pure risk and savings life insurance plan that secures your family’s financial needs

Key features of Bajaj Allianz Life iSecure II

• Flexibility to choose your policy term along with the option to pay premiums for a limited period or
throughout the policy term.
• Option to get back your Total Premiums Paid as Maturity benefit1
• Enhance your protection through our comprehensive riders.
• Choose how your nominee will receive the benefit amount in your absence, as lump sum or monthly income
for 5 /10/ 20/ 30 / 40 years or combination of both.
• Option to defer premiums by 12 months with Auto Cover Continuance Benefit.
• Option to exit your policy once your coverage needs are met and receive your paid premiums back (i.e.
Early exit Value2).
• Choice of Health Management Services as part of our inbuilt wellness benefit.
1
Maturity Benefit is available with Variant 2 - ROP
Early Exit Value is available with Variant 1 - Life
2

How does Bajaj Allianz Life iSecure II work?

Step 1: Choose your plan variant
• Variant 1: Life
• Variant 2: ROP
• Variant 3: Easy
Note: ROP: Return of Premiums
Step 2: Choose your sum assured (Life Cover)
Decide on the level of protection by choosing the sum assured.
Step 3: Choose your Death Benefit Payment option
Select how your nominee(s) will receive the Death Benefit in your absence –
• A one-time lump sum, or
• Partly as Lump sum & partly as monthly income for 5 / 10 / 20 / 30 / 40 years
• Monthly income for 5 / 10 / 20 / 30 / 40 years
Step 4: Choose your policy term, premium payment term & premium payment frequency
Select the period for which you want to get life insurance protection and the period for which you
want to pay the premium.
Step 5: Choose your Premium Payment Frequency
Your premium will be based on your current age, sum assured, lifestyle category (if applicable), policy term,
premium payment term and premium payment frequency etc.
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A Non-Linked, Non-Participating, Individual Life Insurance Term Plan

Key Benefits explained

Variant 1 –Life
1. Death Benefit (Benefit payable on death of the Life Assured during the policy term)
Sum Assured on death will be payable to your nominee.
Death benefit will not be less than Guaranteed Death Benefit i.e. 105% of the Total Premiums paid up to the
date of death.
The policy will terminate immediately & automatically on your death.
2. Maturity Benefit – Not applicable
On survival till the end of the policy term. No benefit is payable.
The policy will be terminated immediately & automatically on the maturity date.

Sample Illustration
Illustration - Ravi, 35 year old non-smoker opts for a sum assured of Rs. 25 Lakhs for a Policy Term of 50 years
and Premium Payment Term of 50 years at Annual Premium Rs. 11,580 (exclusive of GST).
Sum Assured: Rs 25 Lakhs
Death Benefit Payment Option: 100% Lump sum
Policy Term & Premium Payment Term: 50 years (This covers Ravi till Age 85)
Premium Payment Frequency: Annual
Premiums Payable: Rs. 11,580 per annum (excluding GST/any other tax as applicable)
Total Premium Payable: Rs. 5,79,000 (excluding GST/any other tax as applicable)

Scenario 1 – Ravi passes away at Age 50: His family receives the Sum Assured of Rs 25 Lakhs as a one-time
lump sum & the policy terminates

` 25 lakhs paid to
nominee on death of life
assured
Premiums Paid
`11,580 per
annum

35 50 85
Policy Term=50 years

The above premium rates are for non-smoker category and is excluding all applicable discounts.

Total Premiums Paid Total Death Benefit

`1,73,700 `25 Lakhs as a lumpsum

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A Non-Linked, Non-Participating, Individual Life Insurance Term Plan

Variant 2 – ROP
1. Death Benefit (Benefit payable on death of the Life Assured during the policy term)
Sum Assured on death will be payable to your nominee.
Death benefit will not be less than Guaranteed Death Benefit i.e. 105% of the Total Premiums paid up to the
date of death.
The policy will terminate immediately & automatically on your death.
2. Maturity Benefit
Sum Assured on Maturity will be paid out on the maturity date. The policy will terminate immediately &
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, 120% of the Maturity Benefit payable (i.e., 120% * Total Premiums paid) 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 pay-outs.

Sample Illustration
Illustration - Ravi, 35-year-old non-smoker opts for ROP Variant, for a sum assured of Rs. 1 Crore for a Policy
Term of 50 years and Premium Payment Term of 50 years at Annual Premium Rs. 47,677 (exclusive of GST).
Sum Assured: Rs. 1 Crore
Death Benefit Payment Option: 100% Lump sum
Policy Term & Premium Payment Term: 50 years (This covers Ravi till Age 85)
Premium Payment Frequency: Annual
Premiums Payable: Rs. 47,677 per annum (excluding GST/any other tax as applicable)
Total Premium Payable: Rs. 23,83,850 (excluding GST/any other tax as applicable)
Scenario 1 – Ravi passes away at Age 50: His family receives the Sum Assured of Rs 1 crore as a one-time
lump sum & the policy terminates.

` 1 crore paid to nominee

on death of life assured

Premiums Paid
`47,677 per annum

35 50 85
Policy Term=50 years

Total Premiums Paid Total Death Benefit

`7,15,155 `1 Crore as a lumpsum

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A Non-Linked, Non-Participating, Individual Life Insurance Term Plan

Scenario 2 – Ravi survives till Age 85: He receives Maturity Benefit of Rs. 23,83,850 & the policy terminates.
Maturity
benefit
`23,83,850
Premiums Paid `47,677 per annum

35 85
Policy Term=50 years
Total Premiums Paid Total Maturity Benefit
`23,83,850 `23,83,850
The above premium rates are for non-smoker category and is excluding all applicable discounts.

Variant 3 –Easy
1 Death Benefit (Benefit payable on death of the Life Assured during the policy term)
Sum Assured on death will be payable to your nominee.
Death benefit will not be less than Guaranteed Death Benefit i.e. 105% of the Total Premiums paid up to the
date of death.
The policy will terminate immediately & automatically on your death.
2. Maturity Benefit – Not applicable
On survival till the end of the policy term. No benefit is payable.
The policy will be terminated immediately & automatically on the maturity date.

Sample Illustration
Illustration - Ravi, 30 years old, non-smoker, opts for Easy variant of the product for a sum assured of Rs.
15 lakhs for a Policy Term of 25 years and Premium Payment Term of 25 years at Annual Premium Rs. 6,419
(exclusive of GST).
Sum Assured: Rs 15 lakhs
Policy Term & Premium Payment Term: 25 years (This covers Ravi till Age 55)
Premium Payment Frequency: Annual
Premiums Payable: Rs. 6,419 per annum (excluding GST/any other tax as applicable)
Total Premium Payable: Rs. 1,60,475 (excluding GST/any other tax as applicable)
` 15 lakhs paid to nominee
on death of life assured

Premiums Paid
`6,419 per annum

30 40 55
Policy Term=25 years
Total Premiums Paid Total Death Benefit
`64,190 `15 Lakhs as a lumpsum
The above premium rates are for non-smoker category and is excluding all applicable discounts.
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A Non-Linked, Non-Participating, Individual Life Insurance Term Plan

Eligibility Criteria
Parameters Eligibility
Minimum Entry Age 18 years
Maximum Entry Age 65 years
Minimum Age at 28 years
Maturity
Maximum Age at 85 years
Maturity
Minimum Sum Assured Life & ROP Variant: Rs. 25,00,000
Easy Variant: Rs. 10,00,000
Life & ROP Variant: Rs. No Limit
Easy Variant: Rs. 30,00,000
Maximum Sum Assured Maximum Sum Assured shall be as per the Board Approved Underwriting Policy
(BAUP) of the company.
Variant 1 – Life:
Premium
Premium Payment Term Policy Term
Payment Type
5 10 to [85 minus Age at Entry]
10 11 to [85 minus Age at Entry]
Limited Pay 15 16 to [85 minus Age at Entry]
20 21 to [85 minus Age at Entry]
25 26 to [85 minus Age at Entry]
10 to [85 minus Age at
Regular Pay Same as Premium Payment Term
Entry]
Variant 2 – ROP:
Premium
Premium Payment Term Policy Term
Payment Type
5 10 to 50
Premium Payment
Term (PPT) & Policy 10 15 to 50
Term (PT) Limited Pay 15 20 to 50
20 25 to 50
25 30 to 50
Regular Pay 10 to 50 Same as Premium Payment Term
Variant 3 - Easy:
Premium
Premium Payment Term Policy Term
Payment Type
5 10 to 30
10 15 to 30
Limited Pay 15 20 to 30
20 25 to 30
25 30
Regular Pay 10 to 30 Same as Premium Payment Term
Any policy term between minimum & maximum (both inclusive) are available
Minimum & Maximum As per Minimum & Maximum Sum Assured
Premium Amount
Premium Payment Yearly / Half-yearly / Quarterly / Monthly
Frequency
The product is available for sale through online mode.
All the references to age are Age as on last birthday. For policies sold through POS channel, the eligibility criteria
will be as per prevailing POS guidelines, as amended from time to time.
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A Non-Linked, Non-Participating, Individual Life Insurance Term Plan

Other Features available with Bajaj Allianz Life iSecure II

Early Exit Value (Available only under Life variant)

You will have an option to exit from the policy before its maturity & get back all the premiums you have paid, if
all premiums due under the base policy are paid up-to-date.
In case you decide to exercise this option you will receive higher of Early Exit Value or Termination Value (as
applicable) as a one-time lump-sum and the policy will terminate with no further benefits payable. No extra
premiums need to be paid to avail this option. Either Early Exit Value or Termination Value (as applicable) can
be taken in the Policy. On taking one, the other will not be available.
Early Exit Value= 100% of the Total Premiums Paid (under the base policy) till the date of exercising the option.
The option can be exercised at any time during the first five (5) policy years immediately after the policyholder
has attained age 60.
Exclusions
Early Exit Value will be available only if –
• The policy is in force at the time of availing this Early Exit Value.
• The policy meets the below conditions:
a) At inception of the Policy, the Policyholder’s age last birthday must be less than or equal to 50
years
b) The Policy Term chosen at inception must be at least 35 years
c) The age last birthday of the Policyholder at maturity of the Policy must be at least 70 years

Death Benefit in installment Payment option (Available under Life & ROP variants)
At inception, you will have the option to choose how your nominee will receive the Death Benefit in any of the
3 ways mentioned below:
a) 100% of the benefit in a lump-sum, which is the default option in the product
b) X% of the benefit in a lump-sum and the remaining as monthly income instalments, where, X%= 10%
to 90% (as per your choice).
c) 100% of the benefit as monthly income instalments
• The choice and the percentage have to be chosen at inception of the policy itself.
• The instalments will be paid monthly throughout the instalment period of 5, 10, 20, 30 or 40 years, as
chosen by you at policy inception. The first monthly instalment will be due on the date of the life assured.
• There will be discount in premium for the proportion of death benefit taken in instalment is as given
below:
Instalment Period (years) 5 10 20 30 40
Premium discount 5% 10% 20% 30% 40%
The interest rate used to arrive at this discount is 5% p.a.
• Once chosen, it cannot be changed later during the policy term.
Note:
i. Even after the instalments have commenced, the nominee will have the option to convert all future monthly
instalments into a lump-sum, which will be calculated as the present value of future instalments at a discounted
rate of the 5%
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A Non-Linked, Non-Participating, Individual Life Insurance Term Plan

Maturity Benefit in Installments (Under ROP variant)

At the inception of the policy, you will have the option to take the Maturity Benefit in yearly instalments. Once
chosen, it cannot be changed later during the policy term.
• At maturity, 120% of the Maturity Benefit payable (i.e., 120% of Total Premiums paid) shall be paid out in
yearly instalments over the next five (5) years.
• The amount of each instalment will be [120%*Maturity Benefit/5] and will be paid out yearly. The first
instalment will start on the date of maturity.

Auto Cover Continuance Benefit (Under Life & ROP variants)

You will have the option to defer the premiums due for a period of up to 12 months from the due date, while
maintaining the full risk cover under the base plan and attached riders, if any. There is no additional premium
applicable for this feature. In the event of a claim during this period, sum assured will be payable after
deducting the unpaid premiums, if any, as on date of death or other insured event covered under base product
and attached riders.
At the end of Auto Cover Continuance Benefit period, you will be required to pay the outstanding premium
along with the next due premium. If the outstanding premium and the next due premium by the end of the
grace period (for the next due premium) are not paid, the policy will be converted into a lapsed/paid-up policy,
as applicable.
No additional premium is required to be paid for the option.
Conditions for Auto Cover Continuance Benefit:
i) This option can be taken provided at least 3 policy years have been completed and provided all due
premiums have been paid, and the policy is in-force.
ii) You can avail this benefit multiple times during the policy term with a gap of at least 5 policy years
from the expiry date of previous Auto Cover Continuance Benefit.
E.g., You have opted for Auto Cover Continuance Benefit in the 5th policy year (fifth year premium is
not paid), the next Auto Cover Continuance Benefit will be available to him from the 11th policy year
beginning.
iii) You can terminate or surrender the policy anytime even during the Auto Cover Continuance Benefit
year.
iv) You need to intimate the company 30 days (15 days in case of monthly mode) before exercising Auto
Cover Continuance Benefit. If a premium is unpaid with no prior intimation, the policy, at the end of
the grace period will be converted into a lapsed/paid-up policy, as applicable.
v) The Auto Cover Continuance Benefit shall not be available during the last year of the premium paying
term.
vi) No interest shall be levied on the premium due during the Auto Cover Continuance Benefit period.

Health Management Services (Under Life & ROP variants)

Provided you continue paying your due premiums on time, you will have the option to take Health Management
Services such as medical second opinion, medical case management, medical consultation from the service
providers registered with the company.
These wellness services can help you (life assured) to get correct diagnosis of a medical condition and to
procure appropriate illness care.
For more details on these services, applicable terms & conditions please refer to the policy document available
on company’s website.
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A Non-Linked, Non-Participating, Individual Life Insurance Term Plan

Rider Options
You have the option to enhance your coverage with optional rider benefits. The riders currently available with
Bajaj Allianz Life iSecure II are:
1. Bajaj Allianz Accidental Death Benefit Rider (UIN: 116B034V02)
2. Bajaj Allianz Accidental Permanent Total/Partial Disability Benefit Rider (UIN: 116B036V02)
3. Bajaj Allianz Life Family Protect Rider (UIN: 116B056V01)
4. Bajaj Allianz Life New Critical Illness Benefit Rider (UIN: 116B058V01)

Premium Payment Frequency Factor

The installment premium for the premium payment frequencies other than yearly mode is arrived at by
multiplying the yearly premium by the premium payment frequency factors given below.

Premium frequency Monthly Quarterly Half yearly Yearly

Frequency Factor (freq.) 0.0859 0.26 0.51 1.00

Premium Rebates/ Discounts (Applicable for all variants)

1. Online Discount: Policies sold through Online, Direct sales, Web Aggregator and ISNP, there is a rebate of
12% on first year premium.
2. Account Aggregator Discount: If customer is fetched via Account Aggregator data based on their consent,
there is a rebate of 10% in first year.
If Account Aggregator Discount is provided along with Online, Direct Sales, Web Aggregator and ISNP
Discount, a maximum rebate of 15% on first year premium will be applicable.
3. Female Lives Rebate: Premium rate for female life will be with 3-year set-back as mortality rates for
female lives is expected to be lower than that of males.
4. Staff Rebate: The product is also available for our staff, wherein a further rebate of 4% (throughout the
Premium Payment Term).

Termination Value (in Life & Easy variants)

We advise you to continue your policy and enjoy life coverage and other policy benefits. However, we understand
that in certain circumstances you may want to surrender your policy.
a) No Termination Value is available in case of Regular Premium. However, Early Exit Value can be
available.
b) For Limited Premium payment option, you will have the option to surrender the policy at any time
during the policy term after completion of Premium Payment Term.
c) The Termination Value is calculated as: [Termination factor X Total Premiums paid]
d) The Termination Value payable shall not be less than any Early Exit Value available under the Policy
at that time. Termination factors are not guaranteed.
For Termination Value factors kindly visit the company website.
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A Non-Linked, Non-Participating, Individual Life Insurance Term Plan

Surrender Value (in ROP variant)

a) Surrender Value is payable under the Policy, only if one (1) full years’ premiums have been paid.
b) The Policy will acquire a Surrender Value (i.e. Special Surrender Value SSV) after completion of first policy
year provided one full’ year premium has been received. The Policy will acquire a Guaranteed Surrender
Value provided two (2) full years’ premiums have been paid.
c) The Surrender Value payable will be higher of:
• Guaranteed Surrender Value (GSV) where, GSV is equal to GSV factor multiplied by the Total Premiums
Paid
• Special Surrender Value (SSV)
The surrender value shall not exceed 100% of Total Premiums Paid till the date of surrender.
GSV factors are guaranteed throughout the Policy Term. The SSV factors mentioned above are not guaranteed,
will be reviewed by the company annually.
The policy will terminate on the date of surrender.
For Surrender Value factors kindly visit the company website.

Tax Benefits
Premium paid, Maturity Benefit, Early Exit Value and Death Benefit may be eligible for tax benefits as per
extant Income Tax Act, subject to the provision stated therein and as amended from time to time. You are
requested to consult your tax consultant and obtain independent advice for eligibility and before claiming any
benefit under the policy.

Terms & Conditions

Free Look Period

You will have a free look period of thirty (30) days beginning from the date of receipt of the Policy Document,
whether received electronically or otherwise, to review the terms and conditions of the policy. In the event You
disagree to any of the policy terms or conditions, or otherwise and have not made any claim, you shall have the
option to return the policy to Us for cancellation, stating the reasons for the same. Irrespective of the reasons
mentioned, you shall be entitled to a refund of the premium paid subject only to a deduction of a proportionate
risk premium for the period of cover and the expenses, if any, incurred by the insurer on medical examination
of the proposer and stamp duty charges. The request for cancellation of the policy during free look period shall
be processed and the premiums shall be refunded within 7 days of receipt of such request.

Grace Period
If you have failed to make payment of the premium by the due date specified, you will be allowed a grace period
of thirty (30) days for premium payment frequencies other than monthly and fifteen (15) days for monthly
frequency to pay the due premium without any penalty or late fee.
During the grace period, you will be covered for the contingent events & on occurrence of the contingent events
during the grace period when the due premium up to the date of the contingent event was not paid, the same
will be deducted from the benefit payable. On the occurrence of the contingent event during the Grace Period,
the due-but-unpaid premium will be deducted from the benefit payable.
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A Non-Linked, Non-Participating, Individual Life Insurance Term Plan

What happens if you are unable to pay your premiums?

For Life & Easy variants:
If premiums are not paid by the end of the grace period, the policy will, immediately & automatically, lapse at
the expiry of the grace period. No paid up value is available under the policy.
For ROP variant:
1. If at least one full year’s premium isn’t paid, the policy lapses automatically after the grace period with no
benefits.
2. If at least one full year’s premium is paid, the policy converts to a paid-up policy after the grace period
without lapsing.
• The Paid-up Sum Assured, Paid-up Sum Assured on Death and Paid-up Sum Assured on TI are obtained
by multiplying the Sum Assured, Sum Assured on Death and Sum Assured on TI, respectively, by a
corresponding factor equal to the proportion of the number of premiums paid to the total number of
premiums payable under the policy; and the paid-up sum assured on maturity will be based on Total
Premiums Paid till date of paid-up.
• At no time, the Death Benefit under a paid-up policy will be less than 105% of the Total Premiums
Paid till date of paid-up
• Paid-up sum assured on maturity will be equal to Total Premiums paid till date of paid-up.
3. You can revive a lapsed or paid-up policy within five years from the first unpaid premium’s due date,
subject to conditions mentioned in Revival below.

Revival
A policy, which has lapsed for non-payment of premium after the grace period, may be revived, subject to the
following conditions:
i. The application for revival is made within five (5) years from the due date of the first unpaid premium
(from the date at which the premium was due at the beginning of cover continuance period, if applicable)
but before the end of the policy term.
ii. All the due premiums together with applicable interest, at such rate as decided by the Company from
time to time, along with applicable taxes are paid. The current applicable revival interest is 10% p.a.
compounded half-yearly.
iii. You, at your own expense, agree to undergo medical examination and provide evidence of continuity of
insurability.
iv. The revival of the policy may be on terms different from those applicable to the policy before it lapsed/
became paid-up, based on prevailing Board approved underwriting policy framed from time to time.
v. The Company may revive or refuse to revive the policy based on the prevailing Board approved underwriting
policy (BAUP) of the Company. If the policy is refused revival based on the Board approved underwriting
policy (BAUP), the Company will refund the amount deposited for the purposes of revival of the policy.
vi. The revival will take effect only once it is specifically communicated by the company to you.
vii. The company may refuse to revive the policy, based on the board approved underwriting guidelines.
viii. On revival, the Sum Assured, Sum Assured on Death and Sum Assured on Maturity, as applicable, under
the Policy which prevailed before the date of latest lapse/paid-up will be reinstated.
ix. The current applicable revival interest is 10.0 % p.a. compounded half- yearly.
Note: The revival interest rate will be benchmarked to the G-Sec based on the information from Financial Benchmark
India Private Ltd (FBIL). It will be equal to [10-year G-Sec yield PLUS 2%] rounded-up to the next full interest rate.
The revival interest rate will be reviewed on an annual basis. Any change in bases used for determination of
applicable interest rate will be subject to prior approval of IRDAI.
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A Non-Linked, Non-Participating, Individual Life Insurance Term Plan

Exclusions
In case of your death due to suicide within 12 months from the date of commencement of risk or the date of the
latest revival of your policy, whichever is later, then your nominee or beneficiary shall be entitled to receive, the
higher of 80% of the total premiums paid or the Surrender value / Termination value as on the date of death,
provided the policy is in force. There are no other exclusions in death benefit other than the suicide clause.

Policy Loan
For Life & Easy variants: Policy loan feature is not available.
For ROP variant: Provided the policy has acquired surrender value, during the policy term, you will have the
option to take policy loan, subject to a maximum limit of 50% of the surrender value available under the policy.
a) Loan interest rate applicable for the loan will be as decided by the company from time-to-time. Currently
the rate of interest for loan is 10% p.a. compounding half-yearly.
b) On death, maturity or surrender, the outstanding policy loan plus interest, as on the date of death /
maturity/surrender, will be deducted from the death /maturity/surrender value payable.
c) The policy will be foreclosed under the following circumstances:
• For policies that are not in-force or fully paid-up, if the loan and interest are more than the surrender
value, the company will give you a 30-day notice to pay, or the policy will be canceled.
• After cancellation, any surrender value will go toward paying off the loan and interest.
• In-force or fully paid-up policies cannot be canceled just because the loan amount is higher than the
surrender value.
Note: The loan interest rate will be benchmarked to the G-Sec based on the information from Financial Benchmark
India Private Ltd (FBIL). It will be equal to [10-year G-Sec yield PLUS 2%] rounded-up to the next full interest rate.
The loan interest rate will be reviewed on an annual basis as on 1st April every financial year. The revised interest
rate shall be applicable to both existing loans and to new loans offered. Any change in bases used for determination
of applicable interest rate will be subject to prior approval of IRDAI.

Termination of the Policy

The risk cover under the Policy will terminate, immediately and automatically, on the earliest occurrence of
the following events.
a) On the expiry of the Revival Period.
b) On the date of lapse.
c) On the death, if Death Benefit in lump sum has been chosen in the Policy.
d) On the payment of the last Death Benefit Instalment, if Death Benefit is Instalments has been chosen
under the Policy.
e) On the Maturity Date, if Maturity Benefit in lump-sum has been chosen under the Policy in ROP Variant.
This Policy shall, immediately and automatically, terminate on the earliest occurrence of any of the following events:
i) On the expiry of the Revival Period, for a Policy lapsed.
ii) On the death of Life Assured, if Death Benefit in lump sum has been chosen in the Policy.
iii) On the payment of all the last Death Benefit Instalment, if Death Benefit in Instalments has been
chosen under the Policy.
iv) On the Maturity Date, for Life & Easy variants & if Maturity benefit in instalment payouts has not been
chosen in ROP variant.
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A Non-Linked, Non-Participating, Individual Life Insurance Term Plan

v) On the payment of the last instalment, if Maturity benefit in instalment payouts has been chosen in
ROP variant.
vi) On payment of Termination / Surrender Value.
vii) On payment of Early Exit Value (if applicable).
viii) On payment of refund in case of cancellation under Free-look.

Definitions
• Sum Assured on Death is defined as the higher of
(a) 10 times Annualized Premium
(b) Sum Assured.
• Sum Assured on Maturity is equal to Total Premiums paid and will be paid out on the maturity date.
• Annualized Premium shall be the premium amount payable in a year excluding taxes, rider premiums,
underwriting extra premiums, and loadings for modal premiums.
• Total Premiums paid means total of all the premiums paid under the base product, excluding any extra
premium and taxes, if collected explicitly.

Statutory Information

Assignment: Section 38 of the Insurance Act, 1938

Assignment shall be in accordance with provisions of section 38 of the Insurance Act 1938 as amended from
time to time.

Nomination: Section 39 of the Insurance Act, 1938

Nomination shall be in accordance with provisions of section 39 of the Insurance Act 1938 as amended from
time to time.

Prohibition of Rebate: Section 41 of the Insurance Act, 1938, as amended from time to time
Prohibition of Rebate should be in accordance with provisions of section 41 of the Insurance Act 1938 as
amended from time to time.
“No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take
out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any
rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor
shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may
be allowed in accordance with the published prospectuses or tables of the insurer.
Any person making default in complying with the provision of this section shall be liable for a penalty which
may extend up to ten lakh rupees.”

Fraud & Misstatement - Section 45 of the Insurance Act, 1938

Fraud & Misstatement would be dealt with in accordance with provisions of Sec 45 of the Insurance Act 1938
as amended from time to time.
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A Non-Linked, Non-Participating, Individual Life Insurance Term Plan

Applicability of Goods & Service Tax

Goods and Service Tax is charged based on type of policy communication address of Policy Holder. This may
change subject to change in rate/state in address of the Policy Holder as on date of adjustment.

Disclaimer
All Charges applicable shall be levied. The Policy document is the conclusive evident of contract and provides
in details all the conditions and exclusions related to Bajaj Allianz Life iSecure II. Please ask for the same along
with the quotation.
For More Information: Kindly consult our “Insurance Consultant” or call us today on the TOLL FREE numbers
mentioned above. This brochure should be read in conjunction with the Benefit Illustration and Policy Exclusions.
Please ask for the same along with the quotation.
The Logo of Bajaj Allianz Life Insurance Co. Ltd. is provided on the basis of license given by Bajaj Finserv Ltd.
to use its “Bajaj” Logo and Allianz SE to use its “Allianz” logo.

Contact Details
Bajaj Allianz Life Insurance Company Limited, Bajaj House, Airport Road, Yerawada, Pune - 411 006. Reg. No.:
116 | www.bajajallianzlife.com | CIN: U66010PN2001PLC015959

For any queries please contact:

Sales: 1800 209 4040 | Service: 1800 209 7272
Mail us : customercare@bajajallianz.co.in | Visit us: www.bajajallianzlife.com
Bajaj Allianz Life iSecure II | UIN 116N208V01

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS - IRDAI or its officials do not involve in
activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls
are requested to lodge a police complaint.

BJAZ-BR-EC-12432/25