Bharti Axa Investment Plans
Bharti Axa Elite Advantage offers its policyholders dual benefits, inc ...Read More
A quick read on what this Bharti Axa Investment Plans term plan covers and why it might be a fit for you.
Bharti Axa Elite Advantage offers its policyholders dual benefits, including death and maturity benefits. You can also choose rider benefits with this plan, which helps increase the overall coverage of your plan. This article provides complete details about the Elite Advantage Plan, including its features, benefits, buying process, etc. This plan offers multiple benefits to its policyholders, including:
A quick honest summary — the strengths and the trade-offs.
Eligibility criteria pulled straight from the policy wording.
Let’s understand how the Elite Advantage Plan works with a simple illustration.
Mr. Satinder chooses the Elite Advantage Plan to secure his financial future.
His financial advisor advised him to buy the Bharti Axa Elite Advantage Plan. He visited PolicyX.com. Let's understand how the Bharti Axa Elite Advantage Plan works for him with a premium illustration table.
| Age of policyholder | Annual Premiums | Policy tenure | Premium payment term | Total premiums paid | Basic Sum Assured | Guaranteed payout | Maturity Benefits |
| 35 years | Rs 1 lakhs | 12 years | 12 years | Rs 12,00,000 | Rs 11,87,648 | Rs 1,12,827 | Rs 13,00,475 |
Key Takeaways: At the end of the policy tenure, maturity benefits of Rs 13,00,475 are paid to the policyholder.
Flexible premium payment tenure:
Elite Advantage Plan offers you the option to choose your premium payment tenure from 5, 7, or 12 years. You can choose the one that best fits your needs.
Life insurance cover:
This plan offers you life insurance coverage that protects your family financially even in your absence. They can live a comfortable lifestyle with the received death benefits.
Maturity benefits:
This plan offers maturity benefits to the policyholders at the end of their policy tenure. It helps them to fulfill their future financial goals.
Key features that make Bharti Axa Life Elite Advantage stand out.
Grace period
You can pay your missed premiums during the grace period to avoid heavy penalties. A grace period of 15 days is applicable in case of monthly premium payments, while a 30-day grace period is applicable in case of quarterly, half-yearly, and yearly payments.
Policy loan
You can avail of a loan against your policy. The minimum loan amount is Rs 15,000, and the maximum is 70% of the surrender value of the policy as of the date.
Free-look option
A free-look period of 30 days is offered to the policyholders to cancel their policy if they are not satisfied with the policy.
Surrender value
You can surrender your policy once it acquires the surrender value. If you have paid premiums for at least two continuous policy years, it acquires a surrender value.
Reduced paid-up
If you do not pay policy premiums even in the grace period, your policy status will be changed to reduced paid-up, and the benefits are applicable as per the reduced paid-up status.
Keep these documents handy when applying for Bharti Axa Life Elite Advantage.
Photo ID Proof
Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
Age Proof
Age Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
Address Proof
Address Proof (either of one) - Utility bill, passport, voter ID, ration card.
Medical Records
Medical Records of the policyholder if requested.
Income Proof
Income Proof (either of one) - bank statement, last three months' salary slips (if you are salaried).
You can buy the Bharti Axa Elite Advantage Plan by visiting one of the nearest branch offices of Bharti Axa.
* In case the policyholder commits suicide within 12 months of policy purchase, no death benefits are offered to their family members. Either 80% of the premiums paid to date or the surrender value acquired to date, whichever is higher, is paid.
Bharti Axa Elite Advantage Plan is an easy-to-understand plan that offers dual benefits: death benefits and maturity benefits. You have the option to choose the premium payment tenure that best suits your needs. If you are still confused about whether this plan is perfect for you, you can contact us at PolicyX.com. Our experienced insurance advisors will understand your requirements and help you choose the right plan.
The 5 most-asked questions about Bharti Axa Life Elite Advantage, answered.
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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