Bharti AXA Life Insurance

Bharti AXA Life Insurance was formed as a joint venture between the Paris-headquartered Insurance MNC, AXA Group, and the Indian conglomerate Bharti Enterprises. Based on the regulatory framework prescribed for the Insurance companies, AXA has a 49% stake, while Bharti holds the majority 51% stake in the joint venture. As one of India's leading life insurance companies, it provides policies and plans that provide protection, savings, investment, health, and group plans. All these policies ensure that all the needs of an individual are taken care of in the best manner possible. As of 2020, Bharti AXA has issued more than 1.05 million policies which are managed by 238 offices across India.

Insurance Plans Offered by Bharti AXA Life Insurance

1. Bharti Axa Protection Plans

i) Bharti AXA Life Flexi Term

Bharti AXA Life Flexi Term Plan is a flexible term insurance plan that provides financial protection against unforeseen events by offering the flexibility to choose from three different pay-out options.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

• The plan has three flexible pay-out options:
  • Lump Sum option, where the death benefit will be paid as a lump sum.
  • Monthly Income option, where the death benefit will be paid monthly for the next 15 years.
  • Lump Sum plus Monthly Income option, where 50% will be paid as a lump sum and the remaining 50% will be paid as monthly pay-out for 15 years.
• The plan also offers an option of Cover Critical illness at the age of 85; under which the following three optional covers can be selected:
  • Comprehensive cover which takes care of 34 critical illnesses.
  • Major Illnesses cover which takes care of 11 major illnesses.
  • Heart & Cancer cover which takes care of 9 critical illnesses related to cancer and heart.

ii) Bharti AXA Life Premier Protect Plan

Bharti AXA Life Premier Protect Plan is a non-linked and non-participating life term insurance plan that provides financial security to the family after the unfortunate death of the insured.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Features

• The plan offers the option of multiple premium payment terms like single, limited, and regular payment terms.
• Under this plan, the insured can also increase the sum assured up to 50% on 3 important milestones of life such as during marriage, the birth of a child, and purchase of a house.
• Like the life Flexi term, this plan also provides the three pay-out options like a lump sum, monthly income, and the combined lump sum and monthly income option. 

iii) Bharti AXA Life Smart Jeevan

Bharti AXA Life Smart Jeevan is a non-linked and non-participating life insurance plan that provides protection for 12 years at a nominal premium.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

• The plan has a return of premium benefit where the 100% amount paid as premium will be paid as a lump sum at the end of the policy term of 12 years.
• The premiums of the plan are affordable and the policy can be purchased by giving a declaration of good health.
• Buying the policy is easy as no underwriting procedures are included.

iv ) Bharti AXA Life POS Saral Jeevan Bima Yojana

Bharti AXA Life POS Saral Jeevan Bima Yojana is a non-linked and non-participating term insurance plan that provides financial security to the family in case of the unfortunate death of the policyholder.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

• The following three death benefits are included in the plan:
  • If the death occurs within 90 days of the waiting period, 100% of the premium paid till the date of death is paid.
  • If death occurs after the waiting period of 90 days, the sum assured will be paid.
  • If the death occurs due to an accident, the death benefit will be twice the sum assured.
• No medical examination needs to be conducted to avail this policy, and the policyholder gets tax benefits on the premium that he pays.

v) Bharti AXA Life Income Protection

Bharti AXA Life Income Protection is a policy designed to provide continuous income (annual installments) to the insured's family after his unfortunate death.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

• The plan provides an annual pre-planned income to the family of the deceased policyholder. The benefits can be paid out in equal installments of 15 years, or 20 years, as chosen by the insured.
• There are two maturity benefit options available:
  • Option A: 100% of the premium will be paid on maturity.
  • Option B: On the basis of the policy term chosen, 110%, 115%, or 120% will be paid on maturity.

2. Bharti AXA Savings Plans

i) Bharti AXA Life Shining Stars

Bharti AXA Life Shining Stars is a non-linked and non-participating limited pay endowment Life Insurance plan designed to take care of the financial needs and requirements of the child.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Features

• The plan offers 9 different policy terms and premium payment terms that make the policy flexible as per the needs of the family.
• There are two maturity options available for pay-out:
  • Flexi Payout, where the policyholder is entitled to getting a lump sum amount at the end of any of the maturity payout period year.
  • Annual Payout, in which the maturity benefit will be paid out in five equal annual payouts.
• Apart from maturity benefit, the plan also offers an inbuilt benefit, wherein, in case of the unfortunate death of the policyholder, the death benefit is paid, and the maturity benefit will be paid at the time of the maturity.

ii) Bharti AXA Life Elite Advantage

Bharti AXA Life Elite Advantage is a non-linked, non-participating savings & protection oriented life insurance plan that provides guaranteed payouts at the end of the policy term.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

• The plan provides guaranteed payouts of 8.5% to 9.5% of the sum assured. The benefit is paid at the end of the maturity term at regular intervals, based upon the choice of the policyholder.
• Apart from the guaranteed benefit, a 100% lump sum benefit is provided.

iii) Bharti AXA Life Super Series

Bharti AXA Life Super Series is a non-linked and non-participating life insurance plan designed to provide guaranteed income to fulfill the families' growing financial needs and to provide financial security in case of the unfortunate death of the policyholder.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Features

• The plan provides two options, depending upon the policy period and the premium. These options are designed to provide flexibility to the policyholder.
• At the end of the premium payment term, the policyholder will get a guaranteed cash payout of 50% and in the next year, 12% will be paid, which will increase by 3% in the subsequent years till the maturity of the policy.
• An additional 30% will be paid on maturity as a loyalty bonus.

iv) Bharti AXA Life Super Endowment Plan

Bharti AXA Life Super Endowment Plan is a non-linked and non-participating limited pay endowment life insurance plan that helps build wealth in a financially secured and planned manner along with a supplementary life cover against unfortunate events.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Features

• The plan offers the flexibility to choose from 10 premium payment terms depending upon the financial situation of the policyholder.
• Guaranteed additions are paid after the 11th year (based on policy period), which accumulates every subsequent year.
• As a survival benefit, a sum equal to total accrued guaranteed additions is paid one year before the end of the policy, and the sum assured is paid on maturity as the maturity benefit.

v) Bharti AXA Life Monthly Income Plan+

Bharti AXA Life Monthly Income Plan+ is a limited pay traditional participating life insurance plan that provides a guaranteed monthly income and provides financial cover to family members in case of the unfortunate death of the policyholder.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Features

• After the completion of the premium payment term, a monthly income is based on the policy period. The policyholder has the option to choose the monthly income on the basis of which the premium amount is decided.
• At the end of the first policy year, a bonus will start getting accrued which will be paid on maturity or death, whichever is earlier. 

vi) Bharti AXA Life Dhan Varsha

Bharti AXA Life Dhan Varsha is a traditional non-linked participating plan that provides cash income in the form of non-guaranteed cash bonuses, and guaranteed survival benefits.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Features

• The plan offers a 6% guaranteed survival benefit that starts from the 10th Policy year and continues until one year before the maturity period, or death.
• If the policy is in force, the policyholder gets cash bonuses from the end of the 7th policy year till maturity or death.
• The policyholder gets the flexibility to choose from 2 policy terms and gets a life cover to secure the financial needs of his family members. 

vii) Bharti AXA Life Samriddhi

Bharti AXA Life Samriddhi is a non-linked participating saving oriented life insurance plan that allows the policyholder to gain wealth by participating in the profits of the fund company.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Features

• Apart from the payment of 100% lump sum on maturity, if the company declares a bonus, the policyholder gets the advantage of receiving additional income through these bonuses.
• The plan is designed with 8 different premium payment terms to provide flexibility to the policyholder.
• The policyholder also gets a basic life insurance cover that pays 11 times of the annualized premium as a payout to the family in case of the unfortunate death of the policyholder.

viii) Bharti AXA Life Monthly Advantage

Bharti AXA Life Monthly Advantage is a limited pay traditional participating life insurance plan that provides guaranteed monthly payout from the end of the premium payment term.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Features

• The plan provides an option to receive guaranteed monthly income from the completion of the premium payment term at maturity.
• If the company declares a bonus, the policyholder gets the privilege to enjoy financial gains by getting an additional income through this bonus.
• In case of death or total permanent disability due to an accident, the monthly income will be paid to the nominee from the next month till the end of the policy.

ix) Bharti AXA Life Secure Income Plan

Bharti AXA Life Secure Income Plan is a traditional non-participating limited pay life insurance plan that is designed to provide guaranteed monthly income and accrued additions at the end of the policy year.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

• After the completion of the premium payment term, the policyholder is entitled to receive a tax-free guaranteed monthly income until maturity.
• Every year after the premium payment term, a percentage of the sum assured gets accrued as guaranteed additions that are paid on maturity or death, whichever is earlier.
• The plan also provides a maturity benefit that is 100% of the sum assured and a basic life insurance cover to take of the family in case of the unfortunate death of the policyholder.

x) Bharti AXA Life Guaranteed Income Plan

Bharti AXA Life Guaranteed Income Plan is a non-linked and non-participating limited pay Life Insurance plan which provides a life insurance cover and a yearly income that increases every year.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

• At the end of the premium payment term, an annual survival payout is paid which increases every subsequent year till the year before the policy maturity year.
• A maturity benefit that is a percentage of the annual premium amount is paid since the end of the premium payment term.

xi) Bharti AXA Life POS Saral Bachat Yojana

Bharti AXA Life POS Saral Bachat Yojana is a non-linked and non-participating limited pay life insurance plan that provides a combined benefit of a life cover and savings plan.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

• Like a savings plan, the policy provides a comprehensive life cover against unfortunate death and in case of an accident, it provides two times the sum assured.
• If all the premiums are duly paid, the sum assured is provided at the maturity of the policy.

xii) Bharti AXA Life Child Advantage

Bharti AXA Life Child Advantage traditional participating savings plan that helps secure the financial needs of the child with its flexible benefit payout options.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

• Based on your financial needs, there are two payout options:
  • Money-Back option, where guaranteed payouts will be paid in the last five years before maturity.
  • Endowment option, where a guaranteed lump sum will be paid on maturity.
• In case of the unfortunate death of the parent, all the future premiums will be waived-off so that all the needs of the child are taken care of.

xiii) Bharti AXA Life Aajeevan Sampatti+

 Bharti AXA Life Aajeevan Sampatti+ is a non-linked participating whole life limited pay life insurance product that provides guaranteed payouts every year with a life cover up to the age of 100.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Features

• As the name suggests, the plan offers life cover up to the age of 100, with the choice of three premium payment terms.
• 5.5% to 6% of the sum assured is paid as guaranteed payouts from the 10th policy year, and cash bonuses are paid from the 6th policy year along with the maturity benefit at the end of the policy term.

xiv) Bharti AXA Life Flexi Save

 Bharti AXA Life Flexi Save is a limited pay traditional participating life insurance plan that offers the flexibility to withdraw funds when the need arises.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

• The plan offers a Flexi benefit period that allows the policyholder to withdraw funds and modify the policy according to his financial needs.
• The policyholder also enjoys bonuses that get accrued from the first policy year up to maturity.

xv) Bharti AXA Life Serv Suraksha

Bharti AXA Life Serv Suraksha is a non-participating policy that provides a life insurance cover on single premium payment.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

• As a hassle-free policy, it has been designed to provide the maturity benefit of 110% of the sum assured and a death benefit which is 25 times.
• Small budget families have the flexibility of opting for this policy due to affordable premiums that have to be paid one-time.

3. Bharti AXA Health Plan

i) Bharti AXA Life Triple Health Insurance Plan

Bharti AXA Life Triple Health Insurance Plan that provides financial cover up to 3 critical illnesses and waives off the premium after the first claim.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

• The policy provides protection from 13 illnesses that are categorized into three groups – A, B, and C, and the insured can make two additional claims after his first claim.
• After the first claim is processed, all future premiums are waived off till the policy is in force.
• 100% of the sum assured is paid in the first claim, and if the other 2 claims are not from the same group, then the policyholder will again receive a 100% payout for the next two claims too.

4. Bharti AXA Group Plans

i) Bharti AXA Life Group Term Insurance Plan

Bharti AXA Life Group Term Insurance Plan is a comprehensive plan that provides the flexibility of two payout options to ensure that all members of the group are adequately covered.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Features

• There are 2 options to choose the payout:
  • Lump sum, where the entire amount is paid as a lump sum on maturity.
  • Lump sum plus monthly income, where 50% of sum assured is paid as a lump sum and the remaining is paid as monthly income for the next 6 months.
• The insurance is provided at a very low cost and the members of the group have the flexibility to choose from various premium payment terms.

ii) Bharti AXA Life Group Loan Protect

Bharti AXA Life Group Loan Protect is a credit protection policy that is designed to take care of all the outstanding liabilities in case of the death of the policyholder.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

•  The plan offers multiple sum assured options and premium payment terms that the policyholder can adjust and select as per his loan amount and his financial needs.
• The plan also provides life insurance cover to the policyholder and a joint cover for an additional person.

iii) Bharti AXA Life Group Suraksha

Bharti AXA Life Group Suraksha is a renewable group term insurance plan designed for institutions, co-operatives, and NGO's operating in rural and social sectors.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

• The plan is an easy, hassle-free and affordable option as no medical underwriting is required while buying the policy, and the premium options are flexible and affordable.
• The policyholder (the group) is responsible to collect all premiums and forward to the company. The sum assured is paid to the nominee in case of the unfortunate death of the member.

iv) Bharti AXA Life Jan Suraksha

Bharti AXA Life Jan Suraksha is designed for the economically weaker sections of the society which include micro-financial institutions, NGOs, and other smaller groups.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Features

• Apart from the group member, the spouse is also covered within the same policy.
• The policy offers flexibility to economically weaker sections as only a single premium needs to be paid.

v) Bharti AXA Life Loan Secure

Bharti AXA Life Loan Secure is a traditional non-participating group single premium term insurance plan that provides loan cover in the unfortunate death of the policyholder.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

• The plan allows the policyholder to take care of his financial needs with a single premium payment.
• The policyholder gets the flexibility to choose from multiple sum assured options that allow him to customize the policy as per his loan amount.
• Two additional lives can be insured along with the policyholder.

vi) Bharti AXA Life Pradhan Mantri Jeevan Jyoti Bima Yojana

Bharti AXA Life Pradhan Mantri Jeevan Jyoti Bima Yojana is a non-linked and non-participating one-year renewable group term insurance product that is designed to fulfill the objectives of the Government of India's "Pradhan Mantri Jeevan Jyoti Bima Yojana" (PMJJBY) scheme.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

• This plan is a social security scheme that is designed to meet the insurance coverage requirements of the PMJJBY scheme.
• The plan offers coverage of 2 Lacs at a minimal premium of Rs. 330 per year, thus allowing the weaker section of the society to avail it without having to undergo any medical examination.

vii) Bharti AXA Life Smart Bima

Bharti AXA Life Smart Bima is a flexible group term insurance plan that provides a death benefit with the flexibility of multiple premium payment options.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

• The plan offers adequate life insurance coverage at a low premium that can be paid monthly or annually, as per the family's financial needs.
• The family only needs to provide a declaration of good health, and no medical examination is necessary.

viii) Bharti AXA Life Unit Linked Employee Benefits Plan

Bharti AXA Life Unit Linked Employee Benefits Plan is a unit-linked group insurance plan that allows companies to plan for providing employee benefits like Leave encashment, Gratuity, etc.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

• The plan offers the flexibility to invest in four investment fund options as per the financial needs of the employer:
  • Group equity fund
  • Group balance fund
  • Group debt fund
  • Group liquid fund
• The policyholder can also create separate funds for leave encashment and gratuity, and loyalty additions will be added each policy year.

5. Bharti AXA Investment Plans

i) Bharti AXA Life eFuture Invest

Bharti AXA Life eFuture Invest is a unit-linked online investment plan that is designed to provide a life cover along with a tax-free investment.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

• The plan offers the flexibility of withdrawing funds after the first 5 policy years.
• As an online plan, there are zero commission charges. Also, as there are zero allocation charges, 100% of the premium paid is allocated to the fund, thus increasing the returns for the policyholder

ii) Bharti AXA Life Grow Wealth

Bharti AXA Life Grow Wealth savings-oriented unit-linked insurance plan that allows the policyholder to invest in multiple funds options and provide an insurance cover for his family.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

• Based on the risk-return potential, the plan offers the flexibility to choose from 7 different fund options with zero allocation charges.
• From the 6th year, a portion of the fund value is added as a loyalty addition which is paid on maturity. 

iii) Bharti AXA Life Future Invest Plan

Bharti AXA Life Future Invest Plan is a unit-linked limited pay life insurance product that allows the policyholder to invest for a limited term and generate wealth in the remaining policy term.

Eligibility Criteria & Highlights

**Last Updated on 26-06-2020

Eligibility Criteria & Highlights

1. The policyholder has to pay the premium for a limited-term while reaping the benefits of keeping his money invested for a longer-term.
2. The plan also offers the flexibility of partial withdrawals after the completion of 5 policy years.
3. There are zero premium allocation charges.

Why Should You Buy a Bharti AXA Life Insurance Policy?

Bharti AXA Life Insurance Company is a customer-centric organization that has designed plans for virtually all the sections of the society. Its affordable premiums, flexible payment options, and a choice of sum assured options make it a desired company to avail of a life cover. It has carried over the values of its parent companies, Bharti and AXA, and the culture is evident from the services that it provides.

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How To File a Claim For Policies Offered By Bharti AXA Life Insurance?

There are four stages of claim processing for all your death, rider, hospitalization, and group death claims. These are:

1. Claims Intimation: A claim needs to be raised with the company using the online claims submission, toll-free number, email, or by visiting a branch.
2. Claims Processing: Once the claim is formally registered, a claim specialist will assess the claim and will contact you for documentation.
3. Document Submission: You need to submit the documents online or by visiting the nearest branch. 
4. Claims Decisions: Based on the documents submitted, a decision will be taken in 5 working days and will be conveyed to you.