Bharti Axa Life Monthly Advantage vs Lic Pradhan Mantri Life Insurance Plan 2026 | PolicyX
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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.

PLAN DETAILS

Bharti Axa Life Monthly Advantage

Lic Pradhan Mantri
Premium Including GST
Key Features
(Key features of the plan)
  • Guaranteed Monthly Income
  • Earn Yearly Cash Bonuses
  • Extra Protection with Riders
  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure
Plan Maturity age 77, 81, 84 years Maximum Maturity Age - Whole life
Plan Sum Assured 6, 8, 12 years Depends on the policy tenure
Plan Entry Age Min- 91 days, Max- 65 years Minimum Age - 60 years Maximum Age - No limit
Plan Payment modes 50000 for all policy terms N/A
Plan Policy loan Quarterly, Half-yearly, Annually Annual, half-yearly, quarterly & monthly
Plan Sample Premium - -
Plan Brochure Brochure URL Brochure URL
Policy Term 12, 16, 24 years 10 years
Claim Settlement Ratio (2024-25) Minimum Age - 0 year 98.5%

* The above sample premiums are for a 30-year-old male, nonsmoker with a sum assured of Rs 50 lakhs and a policy tenure of 25 years. You can calculate the premiums for the above life insurance plans using the PolicyX Life Insurance Calculator.

Riders

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): 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.

Policy Term Monthly Installments
12 years 72
16 years 96
24 years 144

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.

 

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Reviewed By: Naval Goel

Naval Goel has over a decade of expertise in the insurance sector, having worked with companies like AIG, New York. He is an Associate Member of the Indian Institute of Insurance, Pune, and is authorized by IRDAI to act as Principal Officer of PolicyX.com Insurance Web Aggregator.

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