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Bharti AXA Term Insurance

Bharti AXA Term Plan is an insurance term plan with exceptional coverage. Coupled with affordability and availability, it is the best way to stay protected.

Instant financial support, 48hour limit on fund release

Bharti AXA Life insurance boasts an amazing claim payout, at over Rs. 40 Lakhs, and offers a 48 hour limit on fund release, to ensure an instant financial support at the time of need. Bharti AXA makes buying Life Insurance plans a simple and easy process for people from all walks of life.

Benefits of Buying Bharti AXA Term Insurance

  • Customer Centric Approach: Bharti AXA focuses on the specific needs of every single customer. Bharti AXA workers are available, reliable and attentive, and understand the individual needs, which make it easy to provide the right product for each customer.

  • Easy Claim Process: The service is also digitally enabled, and this makes any type of transaction convenient and hassle-free.

  • Fast Claim Settlements: Bharti AXA offers dedicated claims handlers and a 48 hour fund release, which an industry first.

  • Awards and Accolades: Bharti AXA has received multiple awards, and for the 2nd year in a row, is the most trusted brand in the country, as well as grabbed the 3rd spot in the customer loyalty, according to customer satisfaction.

Types of Bharti AXA Term Insurance Plans

Bharti Axa Life Serv Suraksha

BHARTI AXA LIFE SERV SURAKSHA– make only one payment and ensure financial stability for your family

  • Life Insurance Benefit - Sum Assured is paid in the case of the unfortunate event of death of the policyholder
  • Sum Assured - The amount of money that is payable to the nominee in case of the unfortunate event of death of the insured is equal to 25 times the single premium paid
  • Maturity Benefit – when the policy reaches maturity, the policyholder will be paid 110% of the premium
  • Single Premium – only one premium payment. The premium payment can be Rs.100, Rs.500 and Rs.1000
  • Policy Benefit Period - The policyholder will enjoy the benefits for 5 years post issuance
  • Entry Age - the age of the Life Insured at the commencement of the Policy. It should be between 18 and 50 years of age
  • Free-look Option -if the policyholder disagrees with any of the terms of the Policy, then the policyholder has the option to return the original Policy Bond along with a letter stating reasons for the objection within 15 days of receipt of the Policy Bond. The Policy will accordingly be cancelled and the Premium paid will be refunded to the Policyholder
  • Surrender Value - the Policy may be surrendered after the Free Look period

Bharti Axa Life Monthly Advantage

  • A flexible plan that lets the policyholder choose the policy and premium payment. This makes sure that the policyholder receives a steady monthly income without having to invest in the plan for too long
  • Guaranteed Monthly Income: As long as the policy is in force, you receive an assured monthly income after completion of the Premium Payment Term, which will be consistent up until Maturity
  • Flexibility – you have to option to choose the amount of Monthly Income, and this determines your Premium amount.
  • Bonuses – Any Simple Annual Reversionary Bonuses get accrued to your plan from the end of the first year of the policy and are eligible to be paid upon Maturity, Death or Accidental Total Permanent Disability
  • Benefit in case of Death or Accidental Total Permanent Disability – In the case of Death or Accidental Total Permanent Disability of the insured, the nominee starts receiving Guaranteed Monthly Income from the next month, and continues for the next 6, 8 or 12 years depending on the chosen option.
  • Tax Benefits – Under Section 80C and Section 10(10D) of the Income Tax Act, you can avail the tax benefits on the premiums paid

Bharti Axa Life Elite Advantage

  • A savings plan with dual benefits
  • Flexible Premium Payment Term – you can choose from Premium Payment Terms of 5, 7 and 12 years
  • Maturity Benefit – If the Life Insured survives the maturity of the Policy with all premiums paid, they receive a Guaranteed Payout as a percentage of the Sum promised during the Maturity Payout Period, and 100% of the Sum which is certain to be paid on maturity, is paid at the end of the 20th year.
  • Grace period – this plan has a grace period of 30 days to pay the premium without any impact on the benefits it provides
  • Tax Benefits – Under Section 80C and Section 10(10D) of the Income Tax Act, you can avail the tax benefits on the premiums paid

Rider available

  • Bharti AXA Life Hospital Cash Rider – guarantees a sum payout on surgery, as well as fixed benefits for Hospitalization and intensive care unit benefits

Bharti Axa Life Super Series

  • Offers a succinct payout when the premium payment periods runs out, as well as a consistent increase in payouts until maturity and a reasonable payout at maturity. Super 6 and Super 10 options – you may choose to pay premiums for 6 years, and receive Guaranteed Money Back Benefits for 6, or choose to pay premiums for 10 years, and receive the same benefits for 10 years.
  • Guaranteed Money Back Benefits – you receive Guaranteed Cash Payouts each year which starts after the premium payment term ends and continues up until the maturity date. – 50% payout at the end of the Premium Payment term, and guaranteed cash payout of 12% of the total money payable on Maturity, increased by 3% on each following year.
  • Maturity Benefit – On the moment of Maturity, the Sum guaranteed on Maturity will be paid out in full
  • Guaranteed Maturity Addition – A Guaranteed Maturity Addition of 30% of the Sum certain to be paid on Maturity will also be paid out to the loyal customer
  • Basic Life Insurance Cover – In the circumstance of the death of the life insured, you get the higher of Sum guaranteed on Maturity, or 11 times the base annualized premium (for Super 6), or 15 times the base annualized premium (for Super 10)
  • Tax Benefits – Under Section 80C and Section 10(10D) of the Income Tax Act, you can avail the tax benefits on the premiums paid

Bharti Axa Life Dhan Varsha

  • A non linked participating plan offering Non-Guaranteed Cash Bonuses, Guaranteed Survival Benefits, and a lump sum at the end of the Policy Term
  • Two Policy Term & Premium payment term options – you can choose from terms of 20 years and 25 years with premium payment terms of 10 years and 15 year respectively
  • Guaranteed Survival Benefits – After the 10th policy year, you start receiving 6% of the Sum Assured up to one year before maturity, or death of the Life insured (whichever is earlier)
  • Bonuses – Non-guaranteed cash bonuses are offered with this plan. Surplus in the insurance fund is distributed as a bonus, as a percentage of Sum Assured is paid out every year starting from the end of the 7th policy year, until maturity or death of the life insured (whichever is earlier)
  • Life insurance benefit – this plan offers Life Insurance Benefit to be paid out in the unfortunate event of death of the Life insured
  • Tax Benefits – Under Section 80C and Section 10(10D) of the Income Tax Act, you can avail the tax benefits on the premiums paid

Riders available:

  • Hospital Cash Rider –allows payment of a fixed benefit for each day of Hospitalization, and a lump sum payout in case of surgery
  • Accidental Death Benefit Rider – you will receive an additional sum assured in case of death of the Life insured due to an accident
  • Premium Waiver Rider – In case of critical illness of the Life Insured, death or ATPD future premiums will be waived off

Bharti Axa Life Samriddhi

  • The first step to savings, with regular savings that allow for a 100% of Sum Assured on Maturity, as well as any accrued non-guaranteed bonuses
  • Choosing your Premium Payment Term – with this plan, you can choose limited Premium Payment Term of 5 or 12 years, getting a Policy Term for 10 and 20 years, or you can choose regular Premium Payment Term of 10 or 20 years, with Policy Terms available at 10, 15, 20, 25, 30 and 35 years
  • Basic Life Insurance Cover –In the case of Death of the Life insured, you get the higher of Sum Assured on Maturity, or 11 times the base annualized Premium
  • Maturity Benefit – If all premiums are paid, and the life insured survives until the Maturity of the Policy, 100% of the Sum Assured on Maturity is paid out, along with any Non-guaranteed Bonuses.
  • Bonuses – Non-guaranteed Annual Simple Reversionary Bonus can be declared by the company and accrued to the policy at the end of each year, if all premiums are paid. The company may also declare Non-guaranteed Terminal Bonus to be payable with Maturity Benefit or Death Benefit
  • Tax Benefits – Under Section 80C and Section 10(10D) of the Income Tax Act, you can avail the tax benefits on the premiums paid

Riders available:

  • Bharti AXA Life Hospital Cash Rider - allows payment of a fixed benefit for each day of Hospitalization, and a lump sum payout in case of surgery

  • Bharti AXA Life Premium Waiver rider - In case of critical illness of the Life Insured, death or ATPD future premiums will be waived off

Bharti Axa Life eaajeevan Sampatti

  • This plan can be issued as both an online and offline plan. It offers non-linked savings with dual benefits of guaranteed annual pay-outs, covering up to 100 years of age
  • Limited Pay Period – with this plan, you can choose a Premium Payment Term of 10 or 15 years at the start of the policy
  • Guaranteed Annual Payouts – once the 10th policy year is completed, you will begin receiving yearly payouts until maturity or death of the Life insured (whichever is earlier)
  • Cash Bonuses – this Policy participates in the Insurance fund, and any surplus is distributed as bonus. This is a non-guaranteed benefit and is paid out as a percentage of the Sum Assured on Maturity annually starting from the 6th Policy year, until maturity or death (whichever is earlier)
  • Lifelong Protection – coverage under the Policy continues until you reach an age of 100 or 85 (depending on the type of policy selected). In case of Death of the Life insured, the nominee will be paid out the Sum Assured on Maturity or 11 times the Annualized Premium (whichever is higher)
  • Tax Benefits – Under Section 80C and Section 10(10D) of the Income Tax Act, you can avail the tax benefits on the premiums paid Riders available:
  • Hospital Cash Rider - allows payment of a fixed benefit for each day of Hospitalization, and a lump sum payout in case of surgery
  • Premium Waiver Rider - In case of critical illness of the Life Insured, death or ATPD future premiums will be waived off

Riders available:

  • Hospital Cash Rider - allows payment of a fixed benefit for each day of Hospitalization, and a lump sum payout in case of surgery
  • Premium Waiver Rider - In case of critical illness of the Life Insured, death or ATPD future premiums will be waived off

Bharti Axa Life Smart Jeevan

  • A simple plan offering protection for your family for 12 years. At the end of the Policy Term, you receive 100% of the premium invested
  • Policy and Premium Payment Term – the term for premiums paid and policy length is 12 years
  • Sum Assured on Maturity – 100% of the premiums paid until the end of the policy
  • Death Benefit – In the unfortunate event of death of the Life insured, the beneficiary of the policy will receive 11 times of the Annualized Premium, 105% of all premiums paid, absolute amount assured to be paid on death equal to the Sum Assured, or the Sum Assured on Maturity (whichever is highest)
  • Grace period – the grace period without any impact on the benefits of the policy is 30 days from the premium due date. In the case of Death of the Life insured, the unpaid premium will be deducted from the Death Benefit to get the total sum payable

Exclusions of Bharti AXA Term Insurance

A policyholder will not be able to file the claims in the following situations:

  • Claims may not be admitted if the Life Insured under the Policy, whether medically sane or insane, commits suicide.
  • The Policy shall be void and the company will only be liable to pay the premiums paid until the date.

Claim Process of Bharti AXA Term Insurance

In order to claim your benefits, you need to inform Bharti AXA. You can do this in different ways – Visit the Bharti AXA Life Branch nearest to you, call the toll-free number – 1800-102-4444, send an email at claims@bharti-axalife.com, , or register online for your claim. If you are not able to reach us with this system, we can get in touch with you ourselves by giving you a call. After initiating the claim, you need to submit the documentation needed for your claim. You can do this in the nearest local branch, or you can submit the documents online. You can be rest assured of receiving updates with regards to the progress of your claim. If no investigation is needed on the ULIP contracts, the value is paid to the client within the time frame of 48 hours. If there are investigations to be carried out, the issuer of the claims has at most 6 months to make a choice based on the claim.

Review of Bharti AXA Term Insurance

Bharti AXA has an amazing rate of claim settlement ratio. With a 0.98 ratio of claims settled to claims reported, it means that 98% of the claims reported in the first quarter of 2016 were paid out. Repudiated claims are mostly done on the basis of incorrect disclosure of age, occupation/income, non-disclosure of previous insurance, or medical adversities, and most commonly, fraudulent claims are repudiated. This, along with their 48 hours payout, makes Bharti AXA one of the safest and most honest insurance companies on the market.

FAQ's on Bharti AXA Term Insurance

What if i already have a term plan from another company? Am i still eligible for buying Bharti AXA Life eProtect?

If a customer has any existing insurance, they must disclose it, along with their income details in the sections required when fulfilling an application for Bharti AXA Life eProtect. Depending on the company’s decision, the request can be either declined, or a counter-offer will be issued to be accepted.

Can I buy the Bharti AXA policies from insurance policy aggregators?

Whenever an aggregator website has any of the Bharti AXA products on its website, they are only advertising it. Any and all viable applications for purchasing Bharti AXA products are available on the main website. The aggregator may only route you to them, but you cannot purchase a policy directly from an aggregator.

Are all claims settled? Are there any circumstances which may stop my claim from being settled?

In general, all policies are void if the person that is Life Insured, commits suicide, whether sane or insane. There may be extenuating circumstances allowing for some form of settlement, but these differ from policy to policy. For specific Terms, it is best to review the Policy Bond.

If I apply for a policy and it is declined and not issued, when will I get my money back?

If your policy is declined or postponed, the amount you paid will be refunded within 10 days (excluding weekends and holidays).

What will happen if the premium renewal is still not paid, and the holder of an eProtect policy is not available? Can I still settle the claim?

In cases where premiums are overdue, the policy is considered in a lapse state. No claims can be payable during this, however, customers have the option to renew or reinstate their policy as their specific contract allows.