Bharti AXA Life Monthly Advantage

Overview

Get income for tomorrow with Bharti AXA Monthly Advantage Plan – secure savings, guaranteed returns, and financial security.

Bharti AXA Life Monthly Advantage is a non-participating life insurance savings plan. It offers a choice of three premium payment term options and guarantees monthly payouts from the end of the premium payment term (PPT) until your policy matures. In the event of an unfortunate event that might lead to total disability or death, your family starts receiving the monthly income, which continues for the period chosen by you.

With Bharti AXA Monthly Advantage, you can build your wealth with yearly non-guaranteed cash bonuses starting from the end of the 1st policy year and get paid out on maturity, death, or accidental total permanent disability. The plan also offers enhanced protection during the policy term along with in-built accidental cover.

How to Buy Bharti AXA Life Monthly Advantage Plan from PolicyX.com

1. Visit the official website of PolicyX.com.
2. Click on the 'Investment' tab.
3. A new page will appear on the screen.
4. Fill out the form at the top of the page with the necessary details.
5. Select your income and city. Click on 'Proceed'.
6. Update your education and occupation details.
7. Choose your preferred plan and click on 'Buy this plan'.
8. Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.

Benefits of Bharti AXA Monthly Advantage Plan

There are various benefits to buying the Bharti AXA Monthly Advantage Plan. Let's understand each of them in detail:

• Guaranteed Monthly Income

  You'll start receiving a guaranteed monthly income after you finish paying the premiums until the policy matures, as long as the policy is active. You can decide how much monthly income you want, and that choice will determine the premium amount you pay.

• Death or Accidental Total Permanent Disability (ATPD) Benefit

  Upon the policyholder's unfortunate death or accidental total permanent disability, the monthly income shall be payable to the nominee from the next policy month onwards. It continues for the next 6, 8, or 12 years, depending on the policy term option chosen at the policy's inception.

• Maturity Benefit

  Once you survive till the end of the policy term, you'll receive accrued non-guaranteed annual reversionary bonus (if any) + non-guaranteed terminal bonus (if declared) subject to the policy being in force.

• Survival Benefit

  Once you survive till the completion of the premium payment, the guaranteed monthly income on survival will be payable.

Death Benefit under the Plan

Natural Death

If a policyholder passes away during the policy term, the death benefit amount payable to their nominee will be higher than:

• Sum assured on death + non-guaranteed vested simple reversionary bonuses + non-guaranteed terminal bonus (if declared), or
• 105% of total premiums paid as on date of death, or
• Absolute amount assured to be paid on death, or
• Guaranteed sum assured on maturity.

Kindly note that the survival benefit already paid will not be deducted from the death benefit.

If the insured person passes away, the death benefit amount will be paid out in equal monthly installments, starting from the next monthly anniversary following the date of death. These payments will continue for the number of months specified in the table.

Accidental Total Permanent Disability

If the policyholder suffers total permanent disability due to an accident, the benefit amount will be payable to the nominee. The benefit amount will be payable immediately or within 90 days from the accident date. The benefit payable will be the same as the death benefit under the policy. The nominee also has the option to take the above-mentioned monthly installments as a lump sum.

Policy Revival

You can revive all the benefits under your policy within five years after the default premium's due date.

Check out the revival terms & conditions:

• A written application from you for revival;
• Satisfactory evidence of insurability.
• You must pay your premium and interest rate to restore your policy to its total value.

Policy Surrender

If you cannot afford to pay the premium and want to exit the policy earlier, only the surrender value will be payable to you. Under this plan, policy surrender is allowed after a premium payment of two full years' premium.

On policy surrender, you will get the higher of the following:

• Guaranteed Surrender Value (GSV)
• Special Surrender Value (SSV)

Policy Loan

To meet your specific financial needs, you can take a loan against your policy's value once it has accrued a surrender value. However, you can only take out a loan of a minimum of Rs. 15,000; the maximum amount you can avail of will be up to 70% of the surrender value.

Key Features of Bharti AXA Life Monthly Advantage Plan

• Guaranteed Income

  The plan offers guaranteed income from the end of the premium payment term (PPT) until your policy matures.

• In-Built Features

  The plan comes with in-built death or accidental total permanent disability coverage.

• Cash Bonus

  Grow your savings with cash bonuses from the 1st year onwards till the maturity or death of the life insured, whichever is earlier.

• Flexible Premium

  Flexible premium payment terms allow you to pay premiums at your convenience.

• Optional Riders

  The plan offers a wide range of optional riders that protect you against death, disability, or disease.

How to Buy Bharti AXA Life Monthly Advantage Plan from Bharti AXA Life Insurance Website

1. Visit the official website of Bharti AXA Life Insurance.
2. Hover over 'Investment Plans' from the top menu.
3. Click on 'Bharti AXA Monthly Advantage'.
4. Click on 'Buy Now' and you will be redirected to a new page.
5. Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.
6. 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 Monthly Advantage Plan

Here is the list of documents required to buy the Bharti AXA Monthly Advantage 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 you are salaried).