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Overview
Are you looking for a term plan that covers a group of people, is simple, and has low-cost premiums? If yes, then the Bharti AXA Group Suraksha plan is for you. It provides life insurance to its members upon their unfortunate death and does not require medical underwriting during purchase. It is a one-year renewable group term insurance product, and you can cover a minimum of 15 people under the same plan.
Key Benefits
- Affordable premiums
- Flexible premium payment term
- No medical examination
- Tax benefits as per laws
- Covers 15+ people
- One-year renewability
Riders Associated with Bharti AXA Life Group Suraksha Plan
You can add the following riders to your Bharti AXA Life Group Suraksha Plan:
Accidental Death Benefit Rider
Get an extra payout on top of the base cover in case of unfortunate death due to an accident.
Premium Waiver Rider
It waives off your future premiums in case you're faced with an unfortunate event like critical illness, permanent disability, or death.
Hospi Cash Benefit Rider
Get an additional payment of a fixed benefit for each day of hospitalization and a lump sum benefit in case of surgery.
Features of Bharti AXA Life Group Suraksha Plan
Ease of Purchase
As there is no requirement for medical underwriting to purchase the Bharti AXA Group Suraksha plan, customers can enjoy hassle-free and quick issuance of the policy.
Multiple Premium Payment Modes
The Bharti AXA Group Suraksha plan offers multiple premium payment modes such as annual, semi-annual, quarterly, or monthly.
Sum Assured Options
Bharti AXA Group Suraksha plan offers a sum assured from ₹5,000 up to ₹25,000, to cater to the needs of each group.
Affordable Premiums
Bharti AXA Group Suraksha plan comes with affordable premiums; a basic plan with 15 members starts from just ₹3,500 per month for a sum assured of ₹25,000.
Exclusions
- Death due to a pandemic is not covered by the company.
- Death caused by any type of adventure sports.
- Death by consumption of any type of drugs and alcohol.
- Death due to any pre-existing disease that isn't mentioned at the start of the policy.
- If a policyholder commits suicide within the first 12 months of purchasing the policy, then no death benefits are paid to their nominee.
Benefits of Bharti AXA Life Group Suraksha Plan
Death Benefit
Upon the unfortunate demise of the life insured during the policy term, the death benefit will be payable as a sum assured to the nominee.
Tax Benefit
All premiums paid under the Bharti AXA Group Suraksha term plan can be used for tax redemption for up to ₹1.5 lakhs under Section 80C of the Income Tax Act 1961.
One Year Renewable
Bharti AXA Life Group Suraksha Plan is a one-year renewable group term insurance product, and you can cover a minimum of 15 people under the same plan.
