Are you looking to save for the future and protect your loved ones? Then Bharti AXA POS Saral Bachat Yojana might be perfect for you! A plan that gives saving options with life insurance, along with affordable premiums to fit into your budget.
Bharti AXA POS Saral Bachat Yojana is pure protection, non-participating term insurance plan with a return of premium option so that you can take back all the paid premiums at the time of maturity.
In this article, you will get to know all the important information regarding Bharti AXA POS Saral Bachat Yojana.
Bharti AXA POS Saral Bachat Yojana: Eligibility criteria
Parameters
Specifications
Age of entry
Min - 3 years Max - 55 years
Maturity Age
65 years
Policy Term
Min - 10 years Max - 15 years
Premium paying term
Min - 5 years Max - 12 years
Sum Assured
Min - Rs. 15,602 Max - Rs. 6 lacs
Premium Payment Modes
Annual, semi- annual, quarterly & monthly
Policy loan
Not available
Minimum Premium
Rs. 2500/- per annum
What are the Benefits available under Bharti AXA POS Saral Bachat Yojana?
Below are the benefits available under Bharti AXA POS Saral Bachat Yojana.
Death benefit
Upon the unfortunate demise of the life insured during the policy term, Bharti AXA POS Saral Bachat Yojana pays the death benefit among the highest of the following:
Death benefit (other than death due to accident) - During a waiting period of 90 days: The death benefit payable will be 100% of the premium paid till the date of death (excluding taxes).
Death benefit (other than death due to accident) - After waiting 90 days:
In case of unfortunate death, the sum assured will be payable to the nominee is the highest of the:
11 times annualized premiums.
105% premium paid as on date of death.
The sum assured on maturity is equal to the sum assured on death.
Death (death due to accident) - No waiting period is applicable:
In case of accidental death of the life assured during the policy term, an amount equal to double the sum assured will be payable to the nominee.
Maturity benefit
Upon the complete survival of the policy term by the life assured, Bharti Axa POS Saral Bachat Yojana will return all the premiums on maturity excluding taxes.
Tax benefit
Bharti AXA POS Saral Bachat Yojana offers a tax rebate of up to 1.5 lacs under section 80C of the Income Tax Act 1961, for all the premiums paid in the same financial year.
How does Bharti AXA POS Saral Bachat Yojana work?
Suppose Vaibhav a 28-year-old guy, purchased the plan for 10 years with a premium payment term of 5 years.
The premium for the plan comes out to Rs. 1500/- per month, with the basic sum assured of Rs. 1,27,617, with a premium payment term of 5 years.
:
Benefits Payable
End of Policy Year
Maturity Benefit
Maturity Amount
Maturity benefit
10th year
Sum assured on maturity
Rs. 127,617/-
In the case of Vaibhav death’s during the policy term, his benefit would be given as below:
Benefits Payable
Death Benefit
Death benefit (other than due to accident)- during the waiting of 90 days.
100% of the total premium will be payable till death.
Death benefit (other than due to accident)- after a waiting period of 90 days
Rs. 190,311/-
Death benefit due to accident
Rs. 380,622/-
Premium Illustration of Bharti AXA POS Saral Bachat Yojana
Below is the premium illustration of the Bharti AXA POS Saral Bachat Yojana for a 30-year-old male, non-smoker for a policy term of 10 years with a sum assured of 5 lacs.
Age
Policy term
Premium paying term
Sum assured
Premium amount
30 years
10 years
12 years
5 lacs
Rs.2345/-
Exclusions of Bharti AXA POS Saral Bachat Yojana
Given below are some exclusions of the Bharti AXA POS Saral Bachat Yojana:
Suicide within 12 months of policy inception.
Consumption of any type of intoxicants.
Death due to any aviation accident.
Death due to any adventurous sports.
Wanna know more about the Bharti AXA POS Saral Bachat Yojana?
If you have doubts or queries regarding the Bharti AXA POS Saral Bachat Yojana or need assistance, contact us at the following details. A certified financial advisor from policyx.com will get in touch with you.
Bharti AXA POS Saral Bachat Yojana: Other Provisions
Free-look Period
Suppose you are unsatisfied with the terms and conditions associated with the Bharti AXA POS Saral Bachat Yojana, In that case, you can cancel the plan by giving a written notice or emailing Bharti Axa within 15 days of plan purchase (offline purchase) and 30 days (online purchase).
Grace Period
Suppose you miss paying your premium on the due date then you have 30 days to pay the premium without interest (annual premiums) and 15 days (for monthly premiums).
Revival period
Bharti AXA POS Saral Bachat Yojana offers a revival period for 5 consecutive years from the due date of the first unpaid premium (with penalty) so that the life insured can still renew the policy.
Explore Other Bharti AXA Life Term Insurance Plans
To secure your family's needs, Bharti AXA Life Term Insurance offers 7 term insurance plans, from which you can choose a well-suited plan for yourself:
Read what our customers have to say about Bharti AXA term insurance company
Vidit
Pune
March 14, 2024
I Purchased a Bharti Axa life insurance policy on 2 Jan 24 from policyx.com; the overall experience was excellent for everyone.
Vipul Bhardwaj
Coimbatore
June 9, 2022
Bharti AXA is a good life insurance company, and I am sure if something ha[opens to me, the company will look after my family s needs.
K V Sharma
Kolkata
October 6, 2021
decent company overall...took time to explain everything and listened attentively! found it impressive and bought a term plan within a day!
Tanesh G
Pune
October 6, 2021
help ke liye thanks a lot to team bharti! you are a good help and I will soon buy another cover from them! Recommended!
Tanuj Kumar
Mumbai
October 5, 2021
policyx suggested my this company. it is trustworthy also and I wud recommedn to everybody who is planning to buy insurance
Geetanjali
Kolkata
October 5, 2021
Bought a plan thru policyx for first time...so thankful to the team there...they facilite a smooth talk and buying!
Jyoti Desai
Delhi
October 4, 2021
Bought my very first life insurance policy from Bharti...I had some great options to choose from! I belive it will help my family if ever required! Thanks, guys! and keep up
Sweety
Belgaum
October 4, 2021
my claim was etlled in mere 8 days...I was so worried about it but the Bharti axa team was swift and very considerate of my financial situation
Varun is a passionate content writer with over three years of experience in the insurance domain. An avid learner, he stays ahead of the industry's trends ensuring his writing remains fresh and includes the latest insurance shifts. Through his work, Varun strives to engage with targeted insurance readers.
