Bharti AXA Life Flexi Term Plan

Overview of Bharti AXA Life Flexi Term Plan

The Bharti AXA Life Flexi Term Plan is a term insurance plan that offers protection against 15 major critical illnesses. It comes with two variants: with return of premium and without return of premium.

With the 'with return of premium' variant, you can receive a refund of premiums paid if you outlive the policy tenure. You can choose your desired protection level by selecting a benefit option and get coverage for up to 99 years. Additionally, the plan allows you to cover your spouse under the same policy, specifically with the 'without return of premium' option.

You can choose a policy term as short as 1 year and select your preferred death benefit payout option: lump sum, monthly income, or a combination of lump sum plus monthly income. Let's explore the details of the Bharti AXA Term Plan.

Key Benefits of Bharti AXA Flexi Term Plan

• Two plan options
• Guaranteed death benefit
• Hassle-free buying process
• Tax benefits
• Whole life cover

Plan Options

The Bharti AXA Flexi Term Plan comes with two plan options:

• With Return of Premium
• Without Return of Premium

Coverage for Joint and Single Life

With the Bharti AXA Flexi Term Plan, you can cover your spouse under the same policy with a slightly higher premium. The joint life cover option is available only under the 'without return of premium' variant.

Flexibility in Policy and Premium Payment

You have the flexibility to pay your premium amount at your convenience. You can select from the following premium paying options:

• Annual
• Semi-annual
• Quarterly
• Monthly

Whole Life Cover

The Bharti AXA Flexi Term Plan offers comprehensive coverage for your whole life, up to 99 years.

Increased Sum Assured

With rising inflation, your chosen life cover amount might not be sufficient as your responsibilities grow. With Flexi Term Pro from Bharti AXA Life, you can increase your sum assured up to two times by the age of 45 years.

Death Benefit Payout

At the time of policy purchase, you can choose how your nominee will receive the death benefit payout. Options include:

• Lump sum
• Monthly income payout
• A combination of lump sum plus monthly income payout

Tax Benefit

You can get a tax rebate of up to ₹1.5 lakh for premiums paid for the Bharti AXA Flexi Term Plan under Section 80C of the Income Tax Act, 1961.

Maturity Benefit

If the insured person survives the entire policy term, they will receive all paid premiums back, minus taxes and other charges.

Exclusions

• Suicide during the first 12 months of policy inception.
• Death due to a pandemic.
• Injuries or illnesses caused by adventure sports.
• Consumption of drugs or alcohol, except for clinical purposes.
• Any pre-existing disease not declared at the policy's inception.