Mumbai: Private insurer Bajaj Allianz Life Insurance on Thursday launched an online term plan.
`iSecure' offers a minimum sum assured of Rs 20 lakh, the Pune-based company said in a release here.
The scheme offers 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, it 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," said Bajaj Allianz Life Insurance Head (Market Management) Rituraj Bhattacharya.
The key features of iSecure include 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.
The company is a joint venture between Allianz SE, a leading global insurance firm, and Bajaj Finserv (recently demerged from Bajaj Auto).