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Bharti Axa Term Insurance
  • Life Cover Upto Age of 85 Years
  • 34 Critical Illness Cover
  • Waiver of Premium Rider Option
  • Tax Benefit Under 80C & 10D
  • Multiple Life Cover Payout Options

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Bharti Axa Term Insurance

Bharti Axa Life insurance is one of the best life insurance company which completely justifies its tagline of “Jeevan suraksha ka kya nazariya” by launching flexible term insurance plans. Bharti Axa term plans not only secures your family but also provide regular financial support to family even after your death.

Bharti Axa Life insurance recognizes the urgency of financial support after the death of a responsible individual in the family who was taking care of all the minor and major expenses. Due to sensitivity to each and every claim, the company has achieved a great value and position in the market.

Why Choose Bharti Axa Term Insurance Plans?

  • Claim Settlement Ratio
    Bharti Axa with 98.27% of claim settlement ratio has proved its value in the market and this is the reason why millions of people showcase their trust in purchasing term plans of the company.
  • Freedom and Flexibility
    With infusion broad range of term insurance plans, Bharti Axa has given flexibility, choices, and freedom to its customers. Policyholders can choose any plan with harmony to their demands and are liberal to decide premium paying term, premium paying frequency and policy term.
  • High Valuable discounts
    The company not only protects the policyholder and his/ her family from future risks through its term insurance plans but also provide them rewards for staying fit. Discounts are offered on the premiums to the non-smoker category and females lives.
  • Maturity Benefits
    Some of the Bharti Axa term plans offer maturity benefits, if the life assured survives till the date of maturity. On maturity, total amount of premium paid so far will be paid off. Iin some cases, the company also pays an increased value of premium i.e. 110% or 120% of total premium.
  • Death Benefits
    On death, the company gives you 100% commitment to pay the full and final sum assured due on death to the family after the declaration of claim and submission of required documents for claim settlement process.
  • Wide Network of Happy Customers around India
    Bharti Axa Life has a network of 1 million satisfied customers who have got timely settlement of claim without any delay. Due to perseverant team of customer support that provides 24/7 assistance in the process of claim.
  • Awards and Recognitions
    Bharti Axa Life is honored with innumerable titles through various award functions such as ‘General Insurance company of the year 2019’, ‘Claim Service of the Year 2018’ by BFSI awards, ‘Insurance Brand of the Year – General Insurance’ and many more. These awards have strengthened the brand image of the company.

Types of Bharti Axa Life Term Insurance Plans

1. POS Saral Jeevan Bima Yojana

This plan simply ensures the safety of family by creating a backup reserve or wealth in case the earning member of the family faces death.

Reasons to Buy:

  • Death benefit is payable in lumpsum.
  • No requirement to qualify or appear for medical examination before the purchase of the policy.
  • The sum assured will get twice the basic coverage if any accidental death occurs.
  • Pays death benefit according to the date of the event.

2. Bharti Axa Life Flexi Term

It is the highly flexible plan that gifts an enormous amount of benefits like death benefit, critical illness benefit, liberty to choose premium paying term and extensive life coverage.

Reasons to Buy:

  • Lower rates of premium for females and non-smoker policyholders.
  • Get coverage till 85 years of age and give enlarged protection to family.
  • Unbreakable protection from critical illnesses offered through various coverages-
    1. Comprehensive Cover - Provides coverage against 34 critical illnesses
    2. Major Illnesses Cover - Provides coverage against 15 major critical Illnesses
    3. Heart & Cancer Cover - Provides coverage against 9 critical illnesses related to Heart & Cancer
  • Death benefit can be taken in either of the three forms-
    1. Lumpsum - Whole of the sum assured is payable in lumpsum on claim intimation.
    2. Monthly Income - The sum assured taken will be payable in monthly income for 15 years continuously and the coverage will increase by 10% interest every year.
    3. Lumpsum plus Monthly Income -he sum assured is divided into two parts under this option where 50% of sum assured is paid immediately on death and the rest is paid in monthly income rising by 10% every year for 15 years.

3. Bharti Axa Life Income Protection

Do you know some term insurance plans gives you maturity benefits? Yes, one such term plan is Income Protection plan. This plan will give you maturity benefit in combination with death benefit.

Reasons to Buy:

  • In case the assured survived till the maturity date, then all the premiums deposited will be returned by excluding taxes and underwriting extra.
  • Lesser premium on opting 20 years of policy term up to Rs 2,730 annually under Maturity Benefit Option 1 and Rs 3,825 annually under Option 2.
  • Flexibility to choose maturity benefit options, death benefit payout options, and policy term.
  • Guaranteed payment of death benefit in monthly income according to policy term selected.
  • Get additional financial support through addition of Life Term Rider (refer rider section) to base policy.
  • Maturity benefit is payable in two options-
    1. Option A -100% of the premium will be paid on maturity
    2. Option B -110%, 115% or 120% of the premium paid depending on the policy term selected.

4. Bharti Axa Life Secure Confident

Reasons to Buy:

  • Affordable premiums starting from Rs 1,500 per year and will be based on policy tenure.
  • After the death of the assured, the nominee will get the entire sum assured as life insurance benefit where the sum assured must be more than Rs 5 lakhs.
  • Pay all your loans and liabilities with coverage amount and safeguard your family from becoming financially weak.
  • Receive tax benefits for the premium paid every year under the Income Tax Act.
  • Riders to eliminate the risk of getting financially weak because of accidents, illness or disability.

5. Bharti Axa Life Elite Secure

The plan that pays increased premium value as submitted till the death or maturity date of the policy or survival of the assured till the maturity.

Reasons to Buy:

  • On death, the nominee will get the entire sum assured or 10 times of annualized premiums or 105% of premium paid till death.
  • Premium decided for non-smokers and female lives are relatively lower due to discounts.
  • Choose premium paying term, sum assured and policy tenure without any restrictions.
  • Take advantage of paying premium through deduction of certain amount from the total income tax payable under section 80D and Section 10(10D) of the Income Tax Act.

Eligibility Criteria

Bharti Axa Term Plans POS Saral Jeevan Bima Yojana Bharti Axa Life Flexi Term Bharti Axa Life Income Protection Bharti Axa Life Secure Confident Bharti Axa Life Elite Secure
Minimum Age of Entry 18 years 18 years 18 years 18 years 18 years
Maximum Age of Entry 55 years 65 years For 12 year policy: 58 years, For 15 year policy: 55 years, For 20 year policy: 50 years 55 years For 10/ 15/ 20/ 25 years: 75 years - policy term, For 5 year policy: 65 years
Minimum Age of Maturity 65 years 65 years - - -
Maximum Age of Maturity 65 years 85 years 70 years 60 years 75 years for 10/ 15/ 20/ 25 years, 70 years for 5-year term
Term of the Policy 10/ 15/ 20/ 25 years, Age 60/ 65/ 70/ 75/ 85 years 10/ 15/ 20/ 25 years, Age 60/ 65/ 70/ 75/ 85 years 12years, 15 years or 20 years 5/ 10/ 15/ 20/ 25 years 5/ 10/ 15/ 20/ 25 years OR Up to the age of 75 years
Minimum Sum Assured Rs 50000 Rs 10 lakhs Rs 5 lakhs Rs 3 lakhs Rs 25 lakhs
Maximum Sum Assured No limitations No limitations (regards to underwriting) No limitations (regards to underwriting) No limitations (regards to underwriting) No limitations (regards to underwriting)
Premium Paying Term Same as base policy Same as base policy 12years, 15 years and 20 years Same as base policy Same as base policy
Premium Paying Frequency Yearly/ Half Yearly/ Monthly/ Quarterly Yearly/ Half Yearly/ Monthly/ Quarterly Yearly/ Half Yearly/ Monthly/ Quarterly Yearly/ Half Yearly/ Monthly/ Quarterly Yearly/ Half Yearly/ Monthly/ Quarterly

Bharti AXA Term Insurance Riders

1. Bharti AXA Life Accidental Death Benefit Rider

A person is always at the risk of meeting uncertain life costing events like accidents and to prevent from this Bharti Axa introduced this rider.

Benefits:

  • 100% sum assured is payable on death of the policyholder due to an accident.
  • Enjoy the tax exemptions on the annual income tax paid on yearly income under section 80C of Income Tax Act.
  • Cheap premium rates starting from Rs 25 on online purchase of the policy.
  • Flexible to choose premium paying term and rider term but corresponding to base policy.

Eligibility Criteria:

Minimum Age of Entry 18 years
Maximum Age of Entry 65 years
Minimum Age of Maturity 28 years
Maximum Age of Maturity 75 years
Term of the Rider 5 years to 75 years less Age of Entry
Term of the Rider 10/ 15/ 20/ 25 years
Minimum Sum Assured Rs 50,000
Maximum Sum Assured No limitations
Premium Paying Term Same as base policy

2. Waiver of Premium

Under this rider, all the future payments will be waived or reduced to meet financial crisis arising due to accidental permanent disability or critical illness.

Eligibility Criteria:

Age of Entry 18 years to 65 years
Age of Maturity 70 years
Sum Assured Rs 25,000 (minimum but not more than base policy sum assured)
Term of the Rider 5 years to 25 years
Rider Available in term plans Income Protection Plan
Premium Paying Term Equal to premium paying term under base policy

Benefits:

  • Get access to tax benefits under section 80C (for option 1) and 80D (for option 2).
  • The premium is waived off on the happening of any one of the two events as described below-
    1. Option 1 - On Total and Permanent Disability
      Due to accidents, some individuals get permanent symptoms of disability which make them financially and physically inefficient to cope with increasing expenses and life responsibilities. So, this rider waives off all the premiums due for the upcoming policy years.
    2. Option 2 - On Critical Illnesses
      Bharti Axa Life has listed 11 critical illnesses from which life assured can get facility of waiver of premium on detection of critical illness. The illnesses are
      • First heart attack
      • Open chest CABG
      • Kidney failure
      • Major Organ/Bone Marrow Transplant (Kidney/Liver/Lung/Heart)
      • Open Heart Replacement or Repair Of Heart Valves
      • Stroke Resulting in Permanent Symptoms
      • Coma of Specified Severity
      • Multiple Sclerosis with Persisting Symptoms
      • Cancer of Specified Severity
      • Permanent Paralysis of Limbs
      • Benign Brain Tumor

3. Life Term Rider

This rider benefit makes you prepared for the future economic inflation which results in hike the cost of daily essentials and other services. This option is exercised to enhance the coverage for the accomplishment of financial needs when death of assured arrives.

Eligibility Criteria:

Age of Entry 18 years to 60 years
Age of Maturity 70 years
Sum Assured Rs 25,000 (minimum but not more than base policy sum assured)
Term of the Rider 5 years to 25 years
Rider Available in term plans Income Protection Plan
Premium Paying Term Regular premium under base policy

Benefits:

  • On death, the company promises to pay full rider sum assured pus the basic sum assured chosen.
  • Freedom to purchase sum assured for the rider where the value of rider should be less than or equal to Base policy sum assured.
  • Receive tax benefit by paying regular premium for the rider along with base policy premium under section 80C of the Income Tax Act, 1961.
  • Choose rider term according to your financial capacity.

Please Note: Term rider cannot be purchased in the policy where Premium Waver rider is already attached.

4. Hospi Cash Benefit

This becomes effective when any medical emergency occurs and life assured need immediate attention of medical practitioners. Through this option, assured can avail the facility of Daily Hospital Cash, Intensive Care Unit and Surgical Hospitalization.

Eligibility Criteria:

Age of Entry 91 years to 65 years
Age of Maturity 85 years
Sum Assured Rs 25,000 (minimum but not more than base policy sum assured)
Term of the Rider 5/ 7/ 10/ 15/ 20 years
Rider Available in term plans Bharti Axa Life Elite Secure
Premium Paying Term Regular premium under base policy

Benefits:

  • Avail daily cash limit up to Rs 3,000 for hospitalization of more than 48 hours and subject to continuation of policy. This benefit is payable only for 40 days in a policy year. Hospital cash is payable according to the level selected-
    1. Silver- Upto Rs 1,000
    2. Gold- Up to Rs 2,000
    3. Diamond- Up to Rs 3,000
  • Get facility of ICU for hospitalization of at least 48 hours where a fixed amount is paid which is equal to 100% of daily hospital cash benefit.
  • Support major surgeries like brain, heart, liver, and lungs as well as minor surgeries through payments of benefit as provided below
    1. For major surgeries - 20 times of daily hospital cash benefit and maximum limit can be 90 times.
    2. For minor surgeries - 5 times of daily hospital cash benefit

FAQ's

1. How we can inform the company about the claim?

There are numerous methods through which claims can be communicated-

  • Call on the toll-free number mentioned in policy document
  • Email the query on the official mail as specified in the policy papers.
  • Visit the nearest branch of Bharti Axa Life.
  • Register online

2. What documents do we need to submit for death claim settlement?

  • Claimant statement in claim form
  • Policy documents as given at the time of purchase.
  • Death Certificate issued by the local municipal body must be self attested.
  • Proof of Identity and residence(keep original as well as copies)
  • Photocopy of Bank passbook and canceled cheque

3. What documents are required for Accidental death/ suicides/ murders?

  • Photocopy of First Information Report (FIR)
  • Photocopy of Post Mortem Report

4. What documents are necessary to make non-accidental death claim?

  • Medico Legal Cause of Death certificate
  • Copy of Medical Records (Discharge/ Death Summary, Admission notes, Test Reports including past medical records)
  • Certificate from attending doctor
  • Employer Certificate carrying the employment details of the assured like salary, mediclaim, etc.
  • Family Physician Certificate

5. In what time does the company settle the claim?

The claim will be settled after registration of claim and proper submission of all the mandatory documents. When all these formalities are fulfilled, then the company will take 5 days to complete claim process.

Bharti Axa Life can also ask for additional information if they find any insufficiencies on investigation of documents.

6. What is the process to make death claim in Bharti Axa Life?

  • Intimate about the events immediately.
  • Register your claim by writing to the company.
  • Submit the documents in accordance with the type of death claim. Documents must display true information so that company verifies it in first round.
  • Company will examine each and every document with scrutiny. The final decision will be conveyed to claimant through SMS, emails or letter. Company holds the right to reject a claim proposal due to incorrect or false information.
  • Claim amount will be paid within 48 hours to 5 days after the acceptance of proposal.

7. Is the option of grace period is available under Bharti Axa Life term plans?

Yes, the life assured is given a grace period of 30 days to pay the due premium. After termination of grace period, the policy will be declared as lapsed or terminated.

8. Can we revive a lapsed policy?

Yes, if the life assured want to regain the lost benefits and coverage then accomplish the following conditions-

  • Payment of all the due premium till the date of revival.
  • Pay the additional interest on due premiums.
  • Revival can be practiced within two years starting from the date of unpaid premium

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