Bharti AXA Term Insurance Plan

Bharti AXA Life Insurance Company is a joint venture between Bharti Enterprises and AXA Group. AXA Group is a foreign company. Indian Enterprises have been providing their services in India for a long time in sectors such as telecommunications, agribusiness and financial services. Bharti AXA Life Insurance Company was incorporated in December 2006. Since then till today this company is continuously providing its services in India. Various types of insurance products have been designed by this company which has been able to meet the needs of the customers.

Bharti AXA term insurance plan offers all the features of a term insurance plan. You can make your family’s financial future completely secure even in your absence through Bharti AXA Term Insurance Plan.

If you die during the policy term, then the amount is provided by the insurance company as death benefit to the person nominated by you. Through this death benefit, your family members are able to meet their financial needs without any hindrance.

Bharti AXA term insurance plan offers you the highest term insurance coverage at affordable premiums. In this term insurance plan, you can get the benefit of insurance cover for a period of up to 50 years.

Generally, in a term insurance plan, no benefit is provided to you on survival till the policy term. But in Bharti AXA Insurance Plan you are provided with the option of premium return. If you wish, you can get back the premiums paid after the completion of the policy term.

Features Of Bharti AXA Life Term Insurance Plan

Features of Bharti AXA Life Term Insurance Plan are as follows-

1. Entry Age:

If you buy Bharti AXA Life Term Life Insurance Plan at a young age, then the premium you pay will also be less. If you buy this term insurance plan at the age of 18, then the premium you pay will be very less.

2. Long Term Policy:

You can choose a long term for Bharti AXA Life Term Insurance Plan. Bharti AXA Life Term Life Insurance Plans offers to provide you insurance cover for a term of up to 50 years.

3. Income Tax Benefits:

Bharti AXA Life Term Life Insurance Plans also provide you income tax exemption on the premium paid by you. Through this term insurance policy, you can get tax benefits under section 80C and 10 (10D) of the Income Tax Act 1961.

4. Death Benefit:

Through this policy, in case of untimely death, death benefit is provided to the family members of the policyholder in the form of regular income or as a lump sum payment.

5. Premium Return:

You are also provided with the return of premium option by Bharti AXA term insurance plans. In a basic term insurance you are not given back the premium, but in Bharti AXA Life Term Life Insurance Plans you are given the option of premium return. In this, the premium paid by you is returned on completion of the term insurance policy term.

6. Disability Benefits:

You can also get disability benefits by adding additional riders to this term insurance. If you become disabled due to an accident or illness and are unable to earn money, then with this term insurance rider your premium is waived off and the policy continues for the entire term. Therefore, if you consider necessary, you can add disability insurance rider to your term insurance policy by paying an additional fee.

7. Sickness Expenses:

By adding riders to this term insurance, you can get additional benefits against life threatening diseases like cancer, heart attack and kidney failure etc. Through this, the expenses incurred in the hospital are borne by the insurance company.

8. Maturity Age:

Bharti AXA Life Term Life Insurance Plans give you the option of providing coverage till the age of 85 years. Hence, it offers you coverage for the longest period of time.

Benefits Of Bharti AXA Life Term Insurance Plan

Following are the benefits of Bharti AXA Life Term Insurance Plans :

1. Affordable premium and maximum coverage:

Bharti AXA Life Term Life Insurance Plans are considered to be the most basic type of life insurance and can be obtained at a lower cost as compared to other insurances. This is the reason why taking this insurance plan is cheap and easy. Bharti AXA Life Term Life Insurance Policy offers maximum benefits at low premiums as compared to other insurance policies. You can choose to pay the premiums monthly, half-yearly or annually as per your convenience.

2. Premium Payment Option:

Bharti AXA Life Term Life Insurance offers you the flexibility to pay the premiums offered in this policy. You can choose to pay the premium in monthly, half-yearly or yearly basis as per your convenience. Along with this, it also provides you the convenience of single premium payment option. You can choose any of these options as per your convenience.

3. Death Benefit:

Bharti AXA Life Term Life Insurance Policy provides death benefit to the nominee of the policyholder in the event of death of the policyholder. This death benefit amount can be used by the nominee as per his/her convenience.

4. Life Coverage:

With Bharti AXA Life Term Life Insurance Policy, you can get coverage for a long period of time. Along with this, it also provides you other benefits and facilities for life coverage. To know more about this, read the terms and conditions of the company in detail.

5. Critical Illness Coverage:

This term insurance policy provides cover in case of critical illness. Through this, you can meet the expenses of your illness without worrying about your financial condition. The treatment expenses incurred by you are also covered through this policy.

6. Single Family Benefit:

If you are the sole earner in your family, then Bharti AXA Life Term Life Insurance Plan can be very beneficial for you. These term insurance plans offer to meet the financial needs of the family in your absence as well as provide benefits of other features. Therefore, even in your absence, your family is not allowed to face any kind of financial trouble.

7. Tax Benefits:

You can also avail tax benefits under the Income Tax Act 1961 through this term insurance policy. If you pay premiums up to a limit of Rs 1.5 lakh, you will be eligible for tax deduction under section 80C of the Income Tax Act. Apart from this, you also get an opportunity to avail tax exemption on the maturity benefit / death benefit provided by the term insurance policy.

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8. Rider:

You can also add riders to Bharti AXA Life Term Life Insurance Plans. For this you have to pay additional premium and with this you are provided with additional benefits of term insurance. You can choose this as per your need.

9. Maturity Benefit:

A basic term insurance plan provides only death benefit to the life assured on his/her death to the person nominated by him/her. If the life assured survives the policy term then no benefit is provided to him. However, you can also opt for maturity benefit in Bharti AXA Life Term Life Insurance Plans. In this, if the policyholder survives the policy term, then at the end of the policy term, the policyholder is provided with Maturity Benefit, in which the premium paid by him is returned.

10. Protection from liabilities:

Your family’s liabilities can be met through this term insurance plan. If you buy Bharti AXA Life Term Life Insurance Plans, then in your absence your family’s liabilities like loans or other types of financial needs will be met through the policy. There’s nothing for you to worry about.

Types Of Bharti AXA Life Term Insurance Plans

There are many types of Bharti AXA Life Term Life Insurance Plans provided by Bharti AXA Life Insurance. These plans differ with respect to the features and other benefits available. You can buy some of these plans online while some plans have to be bought offline.

Following are the types of Bharti AXA Life Term Insurance Plans:

1. Bharti AXA Life Premier Protect Plan

• The minimum sum assured in this term insurance plan is Rs 50 lakh. While no limit has been set for the maximum sum insured.
• The policy term of this term insurance is minimum 18 years and maximum 65 years.
• In this, you get monthly, quarterly, half-yearly and annual payment options for premium payment.

2. Bharti AXA Life Rural Life Insurance Scheme

• The minimum sum assured available in this term insurance plan is Rs 10,000. While the maximum sum insured is Rs 2 lakh.
• Provides life insurance cover during the policy term in its Pure Protection plan option. But no maturity benefit is available.
• The security with its return of premium option provides life cover during the policy term as well as 100% of the premiums paid on survival to maturity of the policy.
• It offers a choice of 2 policy terms – 5 years and 10 years. You can choose to pay the premiums in lump sum or for the entire duration of the policy term.
• In this plan, no medical examination of the insured is done.
• Tax benefits are available on the premiums paid.

3. Bharti AXA Life Flexi Term Pro

• In this plan, the minimum sum assured to you is ₹ 10 lakh while no limit has been set for the maximum sum assured.
• The policy term of this term insurance plan is 5, 10, 15, 20, 25 years.
• The minimum age to get this term insurance plan should be 18 years and the maximum age should be 65 years.
• You get the option of paying premium annually, half-yearly, quarterly and monthly.
• In this you also get the option of premium return.
• Through this term plan, you can get time coverage till the age of 99 years.

4.Bharti AXA Life Smart Jeevan

• In this plan, you get the minimum sum assured of ₹ 50,000 and the maximum sum assured of ₹ 5,00,000.
• The policy term of this term insurance plan is 12 years.
• You can choose to pay the premium for the plan annually, half-yearly, quarterly and monthly.
• The minimum age to avail this termination plan should be 18 years and the maximum age should be 50 years.

5. Bharti AXA Life POS Saral Jeevan Bima Yojana

• It is a non-linked, non-participating term insurance plan.
• The minimum sick amount in this time plan has been fixed at ₹ 50,000.
• In this the policy term is 10, 15, 20, 25 years.
• To get this insurance plan, the minimum age should be 18 years and the maximum age should be 65 years.
• You can choose to pay the premium monthly, quarterly, half-yearly and annually.
• In this term plan, you get double the sum assured in case of death due to an accident.
• No medical examination is done on buying this term plan.
• Riders are given the option to choose.
• Special premium rates are offered for women.
• Tax benefits are available on the premiums paid and benefits received.

6. Bharti AXA Life Income Protection

• The minimum death benefit in this plan has been fixed at ₹ 5,00,000. There is no limit on the maximum death benefit.
• The policy term of this term insurance plan is 12, 15, 20 years.
• The minimum age to avail this plan should be 18 years.
• You are provided with several options for premium payment.
• In this you also get the option of adding a rider.

Bharti AXA Term Insurance Plan Eligibility

Eligibility for Bharti AXA Term Insurance Plan is as follows-

• Minimum age should be 18 years.
• The maximum age will depend on the type of policy.
• Medical report has to be made.

Documents Required For Bharti AXA Term Insurance Plan

The documents required for Bharti AXA Term Insurance Plan are as follows-

• identity proof
• address proof
• age proof
• Income ratio
• Photo
• medical report

Bharti AXA Term Insurance Plan Premium

Bharti AXA term insurance plans provide you with various options for premium payment. You can choose any premium payment option as per your convenience.

You get the option of monthly, quarterly, half-yearly, yearly and single premium payment options for premium payment of Bharti AXA term insurance plan.

How To Buy Bharti AXA Term Insurance Plan?

You can buy Bharti AXA Term Insurance Plan through any medium online and offline as per your convenience. To buy through online, you have to buy term insurance plan by visiting the official website of Bharti AXA. Whereas through offline medium you can easily buy Bharti AXA term insurance plan through agents as well.