What makes Bajaj Life iSecure II suitable for self-employed individuals in India?

There isn’t one “perfect” plan for everyone — but if you’re self-employed, you should look for a plan which gives you flexibility in terms of relaxed financial underwriting. Bajaj Life iSecure II is built with this flexibility in mind, which makes it a strong fit for self-employed individuals. · A simpler application process for non-salaried individuals · Choose how long you want to stay covered · Choose Premium Payment Terms · Decide how your family receive the Policy Benefits · Choose Riders to Enhance Protection

I don’t have an ITR. Can I still buy Bajaj Life iSecure II?

Yes, it is possible to apply for Bajaj Life iSecure II even if you have not filed ITR, provided you can show alternate proof of income such as bank statements, or Investment Portfolio or car IDV, or Credit Card Limits. However, policy approval is subject to meeting the insurer’s underwriting criteria. In such cases, the insurer may offer a lower cover amount or request additional details before issuing the policy.

What happens if I cannot pay a premium in Bajaj Life iSecure II policy?

In most term plans, there is a grace period of 30 days (15 days for monthly frequency) to pay the premium. In Bajaj Life iSecure II under the Auto Cover Continuance Benefit Option, you can defer your premium for up to 12 Months, subject to policy conditions.

Is term insurance plan worth it if I don’t have a fixed monthly income?

Yes — in fact, it becomes even more important. When income is unpredictable, your family has a weak financial safety net. Term insurance ensures that even in your absence, your family has financial support to continue with the present lifestyle. However, term insurance only works if you can consistently pay the premiums. If you earn sporadically, you can plan your finances to set aside money for premiums, making the protection worthwhile.

Can I choose how my family receives the Bajaj Life iSecure II Policy claim amount?

Yes, you can decide at the time of policy inception, on how your family receives the policy benefits. the following options are available : a lump sum monthly income or a combination of both This helps them manage money better, instead of handling a large amount all at once Option to choose Death Benefit in installment is only available with Life and ROP variant.

What happens if I survive the policy term for Bajaj Life iSecure II?

In a pure term plan, there is usually no payout upon survival. However, in Bajaj Life iSecure II, there is a variant called ROP (Return of Premium) that gives you back the total premiums you have paid if you outlive the policy term. This is useful if you want protection + some return.

Can I stop the Bajaj Life iSecure II policy if I no longer need a life cover?

Yes, you can. With the Early Exit option, you can leave the policy when your need for insurance is over and get back the premiums paid (subject to policy conditions). This is helpful if your financial responsibilities are reduced over time.

Are there any tax benefits with Bajaj Life iSecure II term insurance?

Yes. You are eligible for tax benefits under section 123 for Premiums paid and section 11 (Read with Schedule II) as per current tax laws. It’s always best to check with a tax advisor to understand what applies to your situation.

What riders should self-employed individuals consider with Bajaj Life iSecure II?

If you are self-employed, adding riders can make a big difference. Riders are enhanced protection which is over and above the base policy. Riders available with Bajaj Life iSecure II : Bajaj Accidental Death Benefit Rider Bajaj Accidental Permanent Total/Partial Disability Benefit Rider ·Bajaj Life Family Protect Rider Bajaj Life New Critical Illness Benefit Rider

Bajaj Life iSecure II - Term Insurance Plan for Self Employed

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Rest of the World

Age	Sum Assured	Policy Term	PPT	Annualised Premium	Per Day
30 Years	₹1 Crore	50 Years	50 Years	₹24,107	₹66^a
35 Years	₹1 Crore	50 Years	50 Years	₹33,357	₹91^aa

Age	Sum Assured	Policy Term	PPT	Annualised Premium	Per Day
30 Years	₹1 Crore	50 Years	50 Years	₹35,185	₹96^b
35 Years	₹1 Crore	50 Years	50 Years	₹48,154	₹132^bb

Feature	Life	ROP	Easy
Min Sum Assured	₹25 Lakh	₹25 Lakh	₹25 Lakh
Max Sum Assured	No Limit	No Limit	₹30 Lakh
Max Age at Maturity	85 Years	85 Years	85 Years
Maturity Benefit	Nil	100% premiums back	Nil
Early Exit Value	Available	Not Available	Not Available
Auto Cover Continuance	Available	Available	Not Available
Health Management Services	Available	Available	Not Available
Death Benefit in Instalments	Available	Available	Not Available

Premium Payment Type	Premium Payment Term	Policy Term
Limited Pay	5	10 to [85 minus Age at Entry]
10	11 to [85 minus Age at Entry]
15	16 to [85 minus Age at Entry]
20	21 to [85 minus Age at Entry]
25	26 to [85 minus Age at Entry]
Regular Pay	10 to [85 minus Age at Entry]	Same as Premium Payment Term

Premium Payment Type	Premium Payment Term	Policy Term
Limited Pay	5	10 to 50
10	15 to 50
15	20 to 50
20	25 to 50
25	30 to 50
Regular Pay	10 to 50	Same as Premium Payment Term

Premium Payment Type	Premium Payment Term	Policy Term
Limited Pay	5	10 to 30
10	15 to 30
15	20 to 30
20	25 to 30
25	30
Regular Pay	10 to 30	Same as Premium Payment Term

For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale. The terms and conditions of product/plan as contained in the Policy Document issued by the Company is available on the Web Site. The names of the Company, Products/Plans/funds do not indicate the quality and its future prospects or returns. IN ULIPs, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. Unlike traditional products, Unit linked insurance products are subject to market risk, which affect the Net Asset Values & the customer shall be responsible for his/her decision. Tax benefits are as per the prevailing Income Tax Laws including the Income Tax Act, 1961 and are subject to change from time to time. Goods and Services Tax will have to be borne by the Policyholder as per applicable rates. All other charges shall be levied in accordance with the terms and conditions of the policy.

This calculation and results displayed are based on information provided and certain assumptions about the rates of return. It is for assistance only and does not constitute an offer or solicitation. It is not intended to be and must not alone be taken as the basis for an investment decision. Kindly note that the returns are only illustrative and they are not guaranteed. The returns do not indicate the upper or lower limits of the return that you may get with your policy and the value is dependent on a number of factors including future performance. Bajaj Life Insurance Limited shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information reported by the calculator.

¹©2021 Morningstar. All Rights Reserved. The Morningstar name and logo are registered marks of Morningstar, Inc. The information, data, analyses and opinions ("Information") contained herein: (1) include the proprietary information of Morningstar and its content providers; (2) may not be copied or redistributed except as specifically authorized; (3) do not constitute investment advice; (4) are provided solely for informational purposes; (5) are not warranted to be complete, accurate or timely; and (6) may be drawn from fund data published on various dates and procured from various sources. Morningstar, its affiliates, and its officers, directors and employees shall not be liable for any trading decision, damage or any other loss arising from using the Information. Please verify all of the Information before using it and do not make any investment decision, except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up

What is Bajaj Life iSecure II?

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