Bajaj Allianz Lifetyle Secure Analysis

Bajaj Allianz LifeStyle Secure – Overview
Bajaj Allianz LifeStyle Secure is a non-linked, non-participating, regular premium payment, term insurance plan that provides financial protection to the family so that the insured person can lead a worry-free life. The plan offers a choice of level cover term assurance and terminal illness benefit.

Key Features
• Special Rates for Women: Women policyholders are offered attractive premium rates which are lower than those provided to men
• No Medical Examination Required: This plan can be bought easily as the policyholder does not have to undergo any kind of medical screening or tests to avail the policy
• Inbuilt Accelerated Terminal Illness Risk Cover: This plan has a built-in Accelerated Terminal
The benefit is paid on the earlier instance of any one of the two events.

Policy Term (in years) 5 7 10 15 20
Payment of Death/Terminal Illness Benefit (in months) 60 84 120 180 240

• Maturity Benefit: No maturity benefit is paid if the insured person survives till maturity i.e. till the end of the policy term
• Surrender Benefit: No surrender benefit is paid under this
This free look period is 30 days in case the policy has been issued under the provisions of IRDAI guidelines on distance marketing of insurance products. The policyholder can return the policy upon disagreement to any of the terms and conditions by stating the reason(s) for such objection(s). He/she will be refunded all the regular premiums paid (excluding applicable taxes) after deducting the proportionate risk premium for the brief period of cover, expenses incurred by the insurance company on medical examination and stamp