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Overview
Save more with Bharti AXA Life Flexi Save Plan – earn annual bonuses along with assured life cover.
Bharti AXA Life Flexi Save Plan is a non-participating savings plan designed to help you save towards meeting your future goals. In this plan, you can grow your savings with yearly bonuses starting from the first policy year to maturity or death, whichever is earlier. The plan offers you the flexibility to choose a premium payment term (PPT) for 5, 7, or 12 years and enjoy life cover for 20, 25, or 30 years.
Under the Flexi Save Plan, you can stay protected while saving with assured life cover for the entire policy term. In case you survive till the end of the policy term, you shall receive 100% of your sum assured plus an accrued bonus. One of the best features of the Flexi Save Plan is that you can modify your policy term, prepone your maturity benefit, and avail yourself of the full benefits.
Key Benefits of Bharti AXA Life Flexi Save Plan
- Flexibility to modify policy term
- Cash bonuses
- Death benefits
- Maturity benefits
- Partial withdrawals
How to Buy Bharti AXA Life Flexi Save Plan on PolicyX.com
- Visit the official website of PolicyX.com.
- Hover on the ‘Life Insurance’ tab.
- Choose the Investment plan you want to buy.
- Fill out the form at the top of the page with the necessary details.
- Select your income and city. Click on 'Proceed'.
- Update your education and occupation details.
- Choose your preferred plan and click on 'Buy this plan'.
- Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.
Benefits of the Bharti AXA Life Flexi Save Plan
There are various benefits to buying the Bharti AXA Life Flexi Save Plan. Let’s understand each of them in detail:
Flexibility to Modify Policy Term
The plan allows you to withdraw your savings anytime during the specified period by modifying your policy term while the policy is active. Anytime during the Flexi benefit period, you can prepone your policy term and avail yourself of the full maturity benefits due in the policy.
Death Benefit
If you unfortunately pass away during the policy term, your nominee will receive the life cover amount as a lump sum.
Maturity Benefit
If you survive till the end of the policy term, the Maturity benefit payable will be the sum of:
- 100% of Sum Assured; plus
- Accrued Reversionary and Terminal bonus (if declared)
Cash Bonuses
At the end of each policy year, the plan offers non-guaranteed simple reversionary cash bonuses (if any). The cash bonus accumulates to your policy and is paid out at maturity or death, whichever is earlier. You’ll also receive a terminal bonus (if any), paid out in case of death or maturity.
Policy Revival
In this plan, you can revive your policy within five years if your policy has lapsed or is in paid-up status after the due date of the first unpaid premium.
Surrender Benefit
If you’re not able to pay premiums and want to exit the policy earlier, you can do so after a premium payment of two full years’ premium.
Policy Loan
With the Bharti AXA Life Flexi Save Plan, you can also take out a loan after the policy obtains the surrender value. The minimum loan amount for a policy is Rs. 15,000, and the maximum loan amount will not exceed 70%.
Free-Look Option
Flexi Save Plan offers a 15-day free-look period to its policyholders to check terms and conditions. Moreover, they can also cancel their policy within the free-look period.
How to Buy Bharti AXA Life Flexi Save Plan on Bharti AXA Website
- Visit the official website of Bharti AXA Life Insurance.
- Hover over 'Life Insurance Plans' from the top of the menu.
- Click on the Bharti AXA Life Flexi Save Plan.
- Click on ‘Buy Now’ and you will be redirected to a new page.
- Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.
- Once discussed, you can make the premium payment and get the policy documents.
Exclusions
- Suicide within 12 months of the policy purchase is not covered.
- Consumption of any intoxicants.
- Death due to any aviation accident.
- Death due to any adventurous sports.
Documents Required to Buy Bharti AXA Life Flexi Save Plan
Here is the list of documents required to buy the Bharti AXA Life Flexi Save Plan:
- Photo ID Proof: Passport, Aadhaar card, PAN card, Driving license.
- Age Proof: Passport, Aadhaar card, PAN card, Driving license.
- Address Proof: Utility bill, passport, voter ID, ration card.
- Medical Records: Medical records of the policyholder if requested.
- Income Proof: Bank statement, last three months' salary slips (if salaried).
Plan at a Glance
| What’s Good Here | What’s Missing |
|---|---|
| Flexibility to Modify Policy Term | Guaranteed Additions |
| Guaranteed Maturity Benefit | No High Sum Assured Rebate |
| Earn Cash Bonuses | Premium Offset |
| Triple Premium Payment Terms | No Auto Cover Continuance |
