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Overview
Uncertainties are inescapable, but you can ensure your family's goals remain undisturbed, irrespective of the circumstances, with a Bharti AXA Life Saral Jeevan Bima. It is a basic term insurance plan designed to secure your family's financial future in exchange for pocket-friendly premiums. You can choose the premium payment term based on your budget. With its simple and easy-to-understand features, you can secure yourself and your family hassle-free.
Bharti AXA Life Saral Jeevan Bima offers a range of benefits, including:
- Affordable Premium
- Multiple Premium Payment Term options
- Add-on Riders
- Tax Benefits as Per Laws
- Lower Premiums for Women
- Death Benefit
Riders Associated with Bharti AXA Life Saral Jeevan Bima
You can add the following riders to your Bharti AXA Life Saral Jeevan Bima:
Bharti AXA Life Accidental Death Benefit Rider
This rider provides an additional sum assured equal to 50% of the base sum assured in case of the unfortunate demise of the life insured due to an accident.
Bharti AXA Life Accidental Total and Permanent Disability Rider
This rider provides a rider sum assured to the nominee in case of permanent disability within 120 days of the accident.
Key Features of Bharti AXA Life Saral Jeevan Bima
Flexible Premium Payment Terms
The plan offers flexible premium payment term options; you can select the PPT based on your budget: Single Pay, Limited Pay, or Regular Pay.
Lower Premium Rates for Females
Bharti AXA Life Insurance Saral Jeevan Bima Plan offers special rates for females with a partial setback of 3 years in terms of premium rates as compared to male lives.
Advance Premium
Under the monthly premium payment mode, you can pay 3 months' premium in advance.
Add-on Riders
The plan offers two optional add-on riders that allow you to enhance your base life cover and get additional protections: Accidental Death Benefit Rider and Accidental Total and Permanent Disability Rider.
Accidental Cover
You can get an extra payout on top of the base cover in case of accidental death of the life insured during the policy term.
Policy Benefits
Death During the Waiting Period
Upon the unfortunate death of the policyholder during the waiting period, the death benefit shall be payable to the nominee as a lump sum: 10 times the annualized premium or 105% of all premiums paid as of the date of death.
Death After Waiting Period
In case of the policyholder's unfortunate death after the waiting period, the death benefit shall be payable to the nominee as a lump sum: 10 times the annualized premium or the absolute amount assured to be paid on death.
Surrender Benefit
If you do not want to continue the policy and exit the plan before maturity, the surrender value/policy cancellation value will be payable to you only under the single or limited pay options.
Exclusions
- Death due to a pandemic is not covered by the company.
- Death caused by any type of adventure sports.
- Death due to consumption of any type of drugs and alcohol.
- Death due to any pre-existing disease not mentioned at the start of the policy.
- If a policyholder commits suicide within the first 12 months of purchasing the policy, no death benefits are paid to their nominee.
