Bajaj Life
iSecure II
Sample premium
₹13,451 a year*
Term Life Insurance · head to head
iSecure II vs New Tech-Term (Plan 954)
Sample premium
₹9,135 a year*
Quick verdict
- iSecure II is better for insurer's claim payout record.
- iSecure II is better for cover to an older age.
- iSecure II is better for low minimum cover.
Computed from stored specifications, the published term life insurance scoring rules and recorded prices. Not an opinion.
Specifications side by side
Spec
iSecure II
New Tech-Term (Plan 954)
Eligibility
Minimum entry age
18 years
18 years
Maximum entry age
65 years
65 years
Maximum maturity age
85 years
80 years
Policy term
Life: 10 to [85 minus Age at Entry]; ROP: 10 to 50; Easy: 10 to 30 (minimum depends on PPT)
Minimum 10 years; maximum 40 years under Level Sum Assured (subject to maximum age at maturity 80); under Increasing Sum Assured the maximum depends on age and Basic Sum Assured band
Minimum sum assured
₹10,00,000
₹50,00,000
Maximum sum assured
Life & ROP Variant: No Limit; Easy Variant: Rs. 30,00,000; as per the Board Approved Underwriting Policy (BAUP)
No Limit* As per underwriting decision (Board Approved Underwriting Policy)
Plan
Plan options
Life, ROP, Easy
Option I: Level Sum Assured, Option II: Increasing Sum Assured
Premium payment
Regular Pay or Limited Pay (5, 10, 15, 20, 25 years); Yearly / Half-yearly / Quarterly / Monthly
Regular Premium (same as policy term), Limited Premium ([Policy Term minus 5] years for policy term 10-40 years; [Policy Term minus 10] years for policy term 15-40 years) or Single Premium; Yearly or Half Yearly modes
Return of premium option
Yes
No
Death benefit payout
One-time lump sum; partly lump sum and partly monthly income for 5/10/20/30/40 years; monthly income for 5/10/20/30/40 years
Lump sum, or Death Benefit in instalments over 5, 10 or 15 years (yearly/half-yearly/quarterly/monthly), opted by the Life Assured for full or part of the claim
Riders
Bajaj Life Accidental Death Benefit Rider (UIN 116B034V02), Bajaj Life Accidental Permanent Total/Partial Disability Benefit Rider (UIN 116B036V02), Bajaj Life Family Protect Rider (UIN 116B056V01), Bajaj Life New Critical Illness Benefit Rider (UIN 116B058V01)
LIC's Accident Benefit Rider (UIN 512B203V03)
Premium
Sample annual premium
₹13,451
₹9,135
Sample premium is for
Brochure illustration (Life variant): Ravi, 35 year old non-smoker, Sum Assured Rs 25 lakhs, policy term and premium payment term 50 years, annual premium Rs 13,451 (exclusive of GST). Gender not explicitly stated. NOTE: SA Rs 25 lakh, age 35, 50-year term.
Option I (Level Sum Assured), Basic Sum Assured Rs 1 crore, Non-Smoker, Male, Standard life, age 30 (last birthday), policy term 20 years, Regular annual premium. Brochure: 'The above premiums are exclusive of taxes.' NOTE: 20-year term (cover to age 50), not the 30-year/age-60 profile; the brochure table only gives 20-year terms.
Insurer
Death claims settled (insurer)
99.29%
97.59%
Claims figures for
FY 2024-25: individual death claims paid out of claims decided and pending, by number, computed from IRDAI Handbook on Indian Insurance Statistics (Table 15)
FY 2024-25: individual death claims paid out of claims decided and pending, by number, computed from IRDAI Handbook on Indian Insurance Statistics (Table 15)
IRDAI UIN
116N208V03
512N351V02
A tick marks the better value where the category rules say higher (or lower) is better. Text values are shown without a winner. Ties have no winner.
Pros and cons
iSecure II
- Pro: Return-of-premium option available
New Tech-Term (Plan 954)
- Con: Cover ends earlier than 81% of the 27 term life insurance plans on Comparezi that state it (age 80)
- Con: Insurer paid a lower share of individual death claims than 88% of the 27 term life insurance plans on Comparezi that state it (97.59%)