Leading private sector insurer Bajaj Allianz Life Insurance on Thursday launched an online term plan with riders named 'iSecure'.
According to a release, the plan comes with additional riders such as critical illness, comprehensive accidental protection benefit and hospital cash, making it the only online term plan in the market to provide riders. The minimum sum assured under this plan is Rs 20 lacs. Rituraj Bhattacharya, Head (Market Management), Bajaj Allianz Life Insurance said, “The online medium is becoming increasingly popular for buying financial products and this trend is being seen in life insurance as well. Bajaj Allianz has been the pioneer in offering an online ULIP and with iSecure, we have completed our bouquet of online products comprising ULIP, traditional and term insurance plans,“
'iSecure' comes with various key features such as-advantage of level term cover at low cost, benefit of attractive high sum assured rebate, flexibility to select policy term, option to include spouse among others, the release said.
Bajaj Allianz Life Insurance Company Limited is a joint venture between Allianz SE and Bajaj Finserv. Allianz SE is one of the world's largest Life Insurance companies and asset managers. Bajaj Finserv recently demerged from Bajaj Auto.