Bajaj Life Insurance has launched Bajaj Life Smart Secure ROP, a new insurance solution designed to combine life protection with market-linked wealth creation. The product aims to address a growing demand among Indian families for insurance plans that not only provide financial security but also help create long-term wealth while returning certain premiums at maturity.

The newly launched plan seeks to bridge what the insurer describes as a longstanding gap in financial planning: balancing protection needs with long-term goals such as education, home ownership and retirement planning.

The plan

The plan combines multiple layers of protection with investment-linked growth opportunities. It offers life coverage along with additional protection benefits including Accidental Death Benefit, Accidental Total Permanent Disability (ATPD) cover and Terminal Illness protection with a Term Booster.

Unlike traditional term insurance plans that focus solely on protection, Bajaj Life Smart Secure also links investments to market-based funds, allowing policyholders to build wealth over time. According to the company, customers can select from multiple investment funds depending on financial goals and risk preferences.

MUST READ: Planning pregnancy: Should I buy a separate health policy for better maternity cover?

What does 'ROP' mean?

ROP stands for Return of Premium.

A key feature of the plan is that at maturity, customers receive back all premiums paid toward accidental death, disability and terminal illness-related covers, in addition to the accumulated fund value generated through investments.

This feature distinguishes the product from conventional protection plans where premiums paid for riders or additional coverage generally do not come back at the end of the policy term.

MUST READ: Maternity is top cost for companies — why your workplace health insurance may get costlier in 2026

Additional loyalty benefits

The plan also includes several long-term rewards intended to encourage policy continuation.

These include:

• Guaranteed Wealth Booster: Accumulated premium allocation charges growing at 7% annually, added at the end of the 15th policy year.
• Return of Mortality Charges: The company returns 100% mortality charges over the policy term.
• Loyalty Additions: Additional benefits begin from the end of the 10th policy year.
• Benefit Enhancer: Additional boosts to fund value during the final five years of the policy term.
• Eligibility and Coverage

The plan is available for individuals aged 18–65 years, with policy terms extending up to 40 years and coverage up to 85 years of age. Customers can choose premium payment terms between 5 and 12 years.

Bajaj Life also said customers can obtain life cover of up to ₹2 crore without a physical medical examination, simplifying onboarding.

Commenting on the launch, Tarun Chugh, MD & CEO, Bajaj Life Insurance, said Indian families are balancing multiple aspirations and financial priorities.

MUST READ: More Indians have health cover—but hospital bills still burn a hole

“Smart Secure is designed for this reality — combining protection, market-linked wealth creation, and the assurance of premium return at maturity,” he said.

The launch reflects a broader trend in India’s insurance industry, where insurers are increasingly blending protection, investment and return features into integrated financial products.

MUST READ: NPS Swasthya update: PFRDA mandates health insurance, allows full exit for treatment

Published on: May 15, 2026 5:55 PM IST