01The detail

iSecure II in one table

Claim settlement ratio

99.2%FY 2024–25

95% recommended

Complaints per 10,000

3.95policies

Under 10 recommended

Insurer	Bajaj Life Insurance Limited
Sum insured	₹25 lakh upwards on the Life and ROP variants, with no stated upper limit. The Easy variant runs from ₹10 lakh to ₹30 lakh.
Entry age	18 to 65 years (last birthday)
Cover runs to	28 to 85 years (last birthday)

Claim settlement and complaint figures are IRDAI-published and held centrally by NYVO, not taken from the insurer's marketing.

02Cover

What iSecure II does, and what it does not

Term insurance is a narrow product, so the useful question is not how this plan scores against a benchmark – it is what it pays for and what it leaves out. Both lists come from Bajaj Life's own documents.

What this plan does

01Three variants Life for plain cover, ROP for premiums back at maturity, Easy for smaller cover

02Death benefit as a lump sum, a monthly income for 5, 10, 20, 30 or 40 years, or a split of both

03Early Exit Value on the Life variant all your premiums back, exercisable in the five years after you turn 60

04Premiums can be deferred for 12 months while full cover continues

05Cover can run to age 85

06Four optional riders accidental death, permanent disability, family protect and critical illness

07Death benefit is guaranteed to be at least 105% of the premiums you have paid

What it does not do

01Maturity benefit on the Life and Easy variants only ROP pays anything on survival

02Policy loan on the Life and Easy variants only ROP allows one

03The monthly income payout and premium deferral on the Easy variant

03Variants

Which variant should you take?

This plan is sold in more than one form, and the choice is made once at purchase. Picking the wrong one is not something you can quietly correct later, so it is worth a minute now.

LifeMost buyers

Plain cover from ₹25 lakh with no upper limit, running to age 85. The only variant with the Early Exit Value, which returns 100% of the premiums you have paid if you exit during the five years after your 60th birthday. Nothing is paid if you simply outlive the term.

ROP

The same cover with every premium returned if you outlive the term, and the only variant that allows a policy loan. The policy term is capped at 50 years. You pay a materially higher premium for the refund, and you pre-fund it yourself over the term.

Easy

A smaller-cover version, ₹10 lakh to ₹30 lakh, with a lump-sum payout only. It has no Early Exit Value, no premium deferral, no income option and no maturity benefit, and the term is capped at 30 years. Worth taking only if you cannot get the cover you need through the Life variant.

04Add-ons

Add-ons you can buy with it

Each of these costs extra and each has its own conditions. Some are genuinely worth it; several exist to patch a gap in the base plan. Ask what each one adds before it goes on your quote.

Accidental Death Benefit Rider

Pays an additional sum if death is caused by an accident.

Accidental Permanent Total/Partial Disability Benefit Rider

Pays on permanent disability caused by an accident.

Family Protect Rider

Extends cover to a family member under the same policy.

New Critical Illness Benefit Rider

Pays a lump sum on diagnosis of a listed critical illness.

05Exclusions

What this plan will not pay for

Every policy carries exclusions, and they are the clauses people read for the first time at claim stage. These are the ones worth knowing before you buy.

Not coveredIndicative, not exhaustive. Your policy wording is the contract.

01Suicide within 12 months of the policy starting or of its latest revival - the nominee receives the higher of 80% of the premiums paid or the surrender value as at the date of death, provided the policy is in force.

02The documents state there are no exclusions other than the suicide clause.

06The honest bit

Where iSecure II falls short

No plan is right for everyone, and a page that only lists strengths is not much use to you. These are the gaps we would raise on a call before recommending it.

Worth knowing before you buyNone of these are dealbreakers on their own. They are the trade-offs this plan asks you to accept.

01The three variants are different products behind one name, and the cheapest one is the weakest. Easy caps cover at ₹30 lakh and drops the income payout, the premium deferral and the Early Exit Value. Check which variant you have been quoted before you compare the price against anything else.

02The Early Exit Value sounds better than it is. It only exists on the Life variant, and it can only be exercised during the five years immediately after you turn 60. Miss that window and the money stays with the insurer.

03No maturity benefit unless you buy ROP, and ROP costs materially more. You are pre-paying your own refund over the term rather than being given one.

04A policy loan is only available on ROP. On the Life and Easy variants there is none.

05Bajaj already sells eTouch II, which covers much of the same ground. Ask the adviser to price both before settling on this one.

07Source documents