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Overview
Are you looking to save for the future and protect your loved ones? Then the Bharti AXA POS Saral Bachat Yojana might be perfect for you! This term insurance plan offers savings options with life insurance and affordable premiums to fit your budget. The Bharti AXA POS Saral Bachat Yojana is a pure protection, non-participating term insurance plan with a return of premium option, allowing you to receive all paid premiums at maturity.
The Bharti AXA POS Saral Bachat Yojana offers a range of benefits, including:
- Affordable Premium
- Flexible Premium Payment Term
- In-built Accidental Cover
- Tax Benefits as per laws
- Maturity Benefit
- Death Benefit
Key Features
Choice of Premium Payment Terms
This plan offers a choice of five premium payment term options.
Return of Premium Option
Under the return of premium option, you receive all your premiums back if you survive until the end of the policy term.
Life Cover
Provides life cover up to 65 years of age.
Surrender Value
The surrender benefit ensures you receive all premiums paid (excluding any claims) if you voluntarily surrender the policy.
Advance Premium Option
This plan allows you to pay up to three months' premiums in advance on the policy's commencement date.
Benefits in Detail
Death Benefit
Upon the unfortunate demise of the life insured during the policy term, the Bharti AXA POS Saral Bachat Yojana pays the death benefit to the nominee.
Maturity Benefit
Upon the life assured's complete survival of the policy term, the Bharti AXA POS Saral Bachat Yojana will return all premiums paid at maturity, excluding taxes.
Tax Benefit
The Bharti AXA POS Saral Bachat Yojana offers tax benefits of up to ₹1.5 lakhs under Section 80C of the Income Tax Act, 1961, for all premiums paid in the same financial year.
Riders Associated with Bharti AXA POS Saral Bachat Yojana
You can add the following riders to your Bharti AXA POS Saral Bachat Yojana:
Accidental Death Benefit Rider
Provides an extra payout on top of the base cover in case of unfortunate death due to an accident.
Premium Waiver Rider
It waives off future premiums in case of critical illness, permanent disability, or death.
Hospi Cash Benefit Rider
Provides an additional fixed benefit payment for each day of hospitalization and a lump sum benefit in case of surgery.
Exclusions
- Death due to a pandemic is not covered.
- Death caused by any type of adventure sport.
- Death due to the consumption of drugs and alcohol.
- Death due to any pre-existing disease not disclosed at the policy's inception.
- If a policyholder commits suicide within the first 12 months of purchasing the policy, no death benefits are paid to their nominee.
