Bharti AXA Life is one of the premier life insurance providers in India. Established in 2006 as a joint venture between Bharti Enterprises and the AXA Group, it has established itself as a key player in the insurance field. The company boasts local knowledge and strong infrastructure through the Bharti arm coupled with the vast experience in the insurance sector globally through the AXA Group.
The company offers a range of insurance products that aim to deliver the best-in-class service and experience to its customers along with prompt claims processing and helpful customer service.
|Percentage Grievances Solved||100%|
|Claim Settlement Ratio||96.85%|
|Group Death Claims||96.68%|
|Percentage of Claims Rejected||1.33%|
|Solvency Ratio||1.79 (for the quarter ended March 2018)|
The various plans offered by Bharti AXA Life are listed below in tabular form under each of the categories:
|Savings Plans||Protection Plans||Health Plans||Investment Plans||Group Plans|
|Bharti AXA Life Serv Suraksha||Bharti AXA Life Income Protection||Bharti AXA Life Triple Health Insurance Plan||Bharti AXA Life Future Invest Plan||Bharti AXA Life Loan Secure|
|Bharti AXA Life Monthly Advantage||Bharti AXA Life Secure Confident||Bharti AXA Life eFuture Invest||Bharti AXA Life Smart Bima|
|Bharti AXA Life Super Series||Bharti AXA Life Elite Secure||Bharti AXA Life Jan Suraksha|
|Bharti AXA Life Dhan Varsha||Bharti AXA Life eProtect+||Bharti AXA Life Group Suraksha|
|Bharti AXA Life Samriddhi||Bharti AXA Life eProtect|
|Bharti AXA Life Elite Advantage|
|Bharti AXA Life Aajeevan Sampatti+|
|Bharti AXA Life Secure Savings Plan|
|Bharti AXA Life Monthly Income Plan+|
|Bharti AXA Life Secure Income Plan|
|Bharti AXA Life Flexi Save|
|Bharti AXA Life Invest Once|
|Bharti AXA Life Child Advantage|
|Bharti AXA Life eAajeevan Sampatti+|
|Bharti AXA Life Smart Jeevan|
Bharti AXA Life provides a comprehensive list of life insurance plans and policies that provide coverage to meet the needs of every customer. Both individuals as well as corporate buyers will benefit from the range of products offered by the company, all of which come with their best-in-class customer service and speedy claims processing. Some of the advantages of opting for a Bharti AXA Life insurance policy are listed below:
Bharti AXA Life offers a number of policies, which can be grouped into 5 main categories, which are as follows:
The savings plans offered by Bharti AXA Life are ideal for those looking to save and receive life insurance coverage. The plans offered are as follows:
|Plan name||Key features|
|Bharti AXA Life Assure Benefit Plan||
Some of the notable features of this policy are listed as follows:
|Bharti AXA Life POS Saral Bachat Yojana||
Some of the notable features of this non-linked, non-participating, limited pay life insurance plans are listed as follows:
|Bharti AXA Life Super Endowment Plan||
This is a wealth builder plan that focuses on helping you achieve specific investment goals. Some of the notable features are listed as follows:
|Bharti AXA Life Serv Suraksha||
This plan is a single premium traditional life insurance product that offers policyholders the following benefits:
|Bharti AXA Life Monthly Advantage||
This plan is a limited pay traditional life insurance plan that offers a fixed monthly sum to nominees in the event of the death of the policyholder and comes with the following benefits:
|Bharti AXA Life Super Series||
This policy is a non-linked participating money back insurance plan that provides a guaranteed income throughout the policy term and offers the following benefits:
|Bharti AXA Life Dhan Varsha||
This is a limited pay participating life insurance plan offering guarantee survival benefit and annual cash bonuses, along with additional benefits as listed below:
|Bharti AXA Life Samriddhi||
This is a participating, savings-oriented life insurance plan that guaranteed a return of the Sum Assured on maturity as well as :
|Bharti AXA Life Elite Advantage||
This is a non-participating savings life insurance policy with the following benefits:
|Bharti AXA Life Aajeevan Sampatti+||
This is a participating whole life insurance policy that provides guaranteed pay-outs along with the following benefits:
|Bharti AXA Life Secure Savings Plan||
This is a traditional life insurance policy that provides guaranteed additions on the amount along with the following benefits:
|Bharti AXA Life Monthly Income Plan+||
This is a limited pay, traditional life insurance policy that provides a monthly income during the policy duration as well as the benefits listed below:
|Bharti AXA Life Secure Income Plan||
This is a traditional non-participating life insurance policy that provides 8% of the Sum Assured as monthly income, along with the following benefits:
|Bharti AXA Life Flexi Save||
This is a traditional, limited pay life insurance policy that offers policyholders the following benefits:
|Bharti AXA Life Child Advantage||
This is a non-linked child insurance policy that offers endowment or money back options as well as the following:
|Bharti AXA Life eAajeevan Sampatti+||
This is an online, non-linked whole life insurance policy that provides coverage up to the age of 100 years in addition to the benefits mentioned below:
|Bharti AXA Life Smart Jeevan||
This is a non-linked, non-participating return of premium insurance policy that provides a 100% return of premium amount as well as the following:
The protection plans offered by Bharti AXA Life are listed below:
|Plan Name||Key Features|
|Bharti AXA Life Income Protection||
This is a non-linked non-participating term insurance policy that provides a return of premium along with the following:
|Bharti AXA Life Secure Confident||
This is a basic life insurance policy that has the following features:
|Bharti AXA Life Elite Secure||
This is a comprehensive non-participating term life insurance policy with the following features:
|Bharti AXA Life eProtect||
This is an online non-participating term life insurance policy with the following features:
|Bharti AXA Life eProtect+||
This is a non-participating term life insurance policy with the following features:
The health plans offered by Bharti AXA Life are mentioned below:
|Plan Name||Key Features|
|Bharti AXA Life Triple Health||
This is a comprehensive health insurance policy that offers the following features:
The investment plans offered by Bharti AXA Life are listed below:
|Plan name||Key features|
|Bharti AXA Life Grow Wealth Plan||
This is a non-participating, linked life insurance policy with the following features:
|Bharti AXA Life Future Invest||
This is a linked and limited pay life insurance policy that provides policyholders with the following features:
|Bharti AXA Life eFuture Invest||
This is an online, limited pay linked endowment life insurance policy with the following features and benefits:
The Bharti AXA Life group insurance plans offered are listed below:
|Plan name||Key features|
|Bharti AXA Life Group Loan Protect||
This is a policy intended mainly for the credit protection of group members. During unforeseen circumstances, this policy comes in handy to help members with their outstanding liabilities. Some of the notable features are listed as follows:
|Bharti AXA Life Pradhan Mantri Jeevan Jyoti Bima Yojana||
This policy has been backed by the government of India to provide coverage to people at a low price. Some of the key features of this policy are listed as follows:
|Bharti AXA Life Unit Linked Employee Benefits Plan||
This is a unit-linked plan offered for members of a group. Members can choose their funds from the four options provided by the policy. Some of the notable features of this cover are listed as follows:
|Bharti AXA Life Group Accidental Death Benefit Rider||
This is an additional coverage that can be taken by groups to provide accident death benefit to its members. Some of the key features of this policy are listed as follows:
|Bharti AXA Life Loan Secure||
This is a group credit protection policy that protects the dependents of the policyholders from liabilities in the event of their demise with the following features:
|Bharti AXA Life Smart Bima||
This is a one year renewable group term insurance policy with the following features:
|Bharti AXA Life Jan Suraksha||
This is a one year renewable group insurance policy targeted at micro-financial institutions and offers the following:
|Bharti AXA Life Group Suraksha||
This is a one year renewable group term insurance policy that offers the following features:
Bharti AXA Life seeks to make it easy for all policyholders to file a claim, and with this in mind, have streamlined their claims processing, assuring policyholders of a release of funds within 48 hours of intimation of the claim.
Bharti AXA Life has a 3 step offline claims processing procedure and provides assistance at every step of the way, in addition to providing online tracking so claimants can monitor their claim online.
Bharti AXA Life has an online claims process procedure as well as an offline one, enabling policyholders to choose a process based on their convenience.
Online Claims Process:
Bharti AXA Life’s online claims process consists of 4 steps, all of which are processed online. The claims can be tracked on the website at every stage of the process.
The online claims process for Bharti AXA Life insurance policies is given below:
Step 1: Claim Registration
The claimant is required to register the claim on the Bharti AXA Life website. The following information is to be provided at the time of registering a claim:
On submitting the above information, the claim will be registered and the claimant will receive an acknowledgement of the same.
Step 2: Upload Documents
On successfully registering the claim, the claimant will have to upload documents supporting the claim that was filed.
Step 3: Track Your Claim
On uploading the documents, the claimant will receive an acknowledgement and can track the status of the claim processing online. The claimant will have to enter the following details to track a claim:
Alternatively, the claimant can choose to enter the claim number, following which the claim status will be displayed onscreen.
Once the claim has been processed, the claimant will receive a notification via email/SMS regarding the status. If approved, the pay-out will be credited to the claimant.
In the event the claim has been rejected, the claimant will be notified of the same.
Step 4: Give Feedback
Claimants can provide feedback of the claims process and register grievances, if any, in the last stage of the process. A representative would get in touch with the claimant to redress any grievance.
Offline Claims Process
Bharti AXA Life policyholders can also submit their claims offline. The procedure to file an offline claim is as follows:
Step 1: Claim Intimation
The claimant is required to notify Bharti AXA Life of a claim through any of the ways listed below:
Please note: Requesting a call back and calling on the toll-free number are both considered verbal intimation and claims would be registered only after a written intimation is received by the company.
Step 2: Document Submission and Verification
After the claim is registered, the claimant is required to submit documents to validate the claim. The documents can be submitted in person and would depend on the type of claim that is being filed.
In the case of a group death claim, the list of documents to be filed is listed below:
For non-accidental deaths, the following additional documentation is required:
For death claims, the following documentation is required:
For non-accidental deaths, the following additional documents are required:
For hospitalisation claims, the following documents are to be submitted:
Claim Settlement Ratio
Bharti AXA Life has maintained a healthy claim settlement ratio of 96.85% for the financial year 2017-2018.
Bharti AXA is one of the top insurance service providers in the country with a diverse range of products in its lineup. The company promises a quick claim settlement process that honours all valid claims from customers. For the fiscal year 2016-17, its claim settlement ratio is as follows:
|No. of claims received||No. of claims approved||Claim settlement ratio|
Claim settlement ratio trend over the years:
Individuals and organisations looking to buy a Bharti AXA Life insurance policy can do so in a few simply steps by visiting a branch office or applying online. When applying for a Bharti AXA Life insurance policy, the potential policyholder/policyholders are required to provide certain information and documentation to the company so the application can be processed.
The list of documents to be submitted when applying for a Bharti AXA Life policy are:
Policyholders who wish to check the status of their Bharti AXA Life insurance policy can do so by looking up the Bharti AXA Life website. Policyholders have to input their policy number and date of birth in order to access details pertaining to their policy status, after which the information would be displayed on screen.
Bharti AXA Life policyholders can choose to pay their premiums through multiple mediums. With the aim of making it more convenient for policyholders to pay their premiums with minimum hassle, the company has introduced online premium payments.
Policyholders can choose to pay their premiums online through a credit or debit card or by using netbanking.
The process to pay premiums online is listed below:
Buying life insurance is usually a long-term commitment that individuals make. Premium payments take up a significant chunk of income and many individuals would like to know how much they would need to set aside towards insurance premiums each year. Bharti AXA Life makes it easy for policyholders to calculate the amount of premium payable for a particular policy. The company has an online premium calculator that computes the amount of premium payable for a particular policy based on the policy tenure, policyholder’s age and the Sum Assured chosen. This provides a hassle-free and accurate way of predicting how much would need to be paid towards a premium for the selected policy.
A.Claimants who wish to file a claim online need to follow the below steps:
Additionally, claimants can also choose to provide feedback on the claims process.
A.The possible reasons behind a claim being rejected are listed below:
A.Bharti AXA Life provides an assurance of claim settlement within 48 hours of the intimation of a claim provided all documentation is in order and there is no need for further investigation.
A.Yes, it is possible to register for ECS (Electronic Clearing Service) to pay off your premiums. The same can be done by submitting an ECS Mandate Form, which is available on the Bharti AXA Life website.
A.Policyholders can choose to pay their Bharti AXA Life insurance premium through any of the following methods:
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Making the best use of technology, Bharti AXA Life Insurance recently announced that customers will now receive their policy and premium receipts via WhatsApp. One of the first few life insurers in the country to adopt WhatsApp as part of their customer service, Bharti AXA is looking to making their customer service a lot friendlier and convenient for their customers. According to the CEO of the company, Vikas Seth, With mobile instant messaging platform like WhatsApp, we are making it easier for our customers to get their policy contract, renewal premium and claim intimation through an effortless communication channel. We are confident that this instant communication tool will help us improve customer engagement, customer-contactability as well as enhance the comforts and benefits of our policyholder. Following the announcement of the company to integrate Whatsapp into its process, he said, over a period of time, WhatsApp has emerged as the most preferred platform for communication and conversation in both personal and professional domains. We want our policyholders and customers to capitalize on this platform for smart, convenient and faster communication.
3 January 2019
Private life insurance company Bharti AXA Life has launched a new service that allows delivery of its policies through WhatsApp. The company also now provides renewal premiums receipts through WhatsApp. Before this service, the company introduced a system where claims can be intimated with the help of WhatsApp.
With this launch, Bharti AXA Life has become one of the first life insurance companies to provide policy document, claim intimation service, and renewal receipts through WhatsApp. The use of this technology will help customers easily access their required service. In addition to this, the company is also renowned for its diverse range of services offered through multiple channels.
Ishita Mukherjee, Chief Operating Officer of Bharti AXA Life, stated that providing these services through WhatsApp is a part of the company’s next generation service differentiator that ensures smooth communication between policyholders and the company.
3 January 2019
On Thursday, Bharat AXA Life Insurance company revealed that its business, in terms of new policies, has increased by 52% in the first half of the fiscal year. In the year-ago period, the value of new policies was Rs.262 crore and in the first half of this fiscal, the value went up to Rs.398 crore. The company also said in the statement that the number of branches will be increased from 216 to 236 by the end of the fiscal year. The renewal premium of the company increased by 21% in the first half of the fiscal compared to the first half of the previous fiscal. The renewal premium for H1 FY2017-18 was Rs.374 crore and for H1 FY2018-19 was Rs.453 crore. The total premium collected by the company in the first half of FY2018-19 rose by more than 34%. The MD and CEO of the company, Vikas Seth, said that the company grew faster than the industry itself in the first half of the fiscal year and hopes to do better in the rest of the year. While 30 new branches were added in the April-September period, 20 more will be added in the October-March period. IRDAI has already provided its approval for the 20 new branches to be set up.
23 November 2018
Bharti AXA Life Insurance, a leading private-sector insurance company, has recently launched a novel facility which will allow customers to use WhatsApp to inform the company of claims. This newly-launched service is expected to make claims processing quicker and hassle-free for the customer.
Bharti AXA has become the first Indian life insurance firm to provide customers the option of intimating claims by simply sending a text message via WhatsApp. Mr. Vikas Seth, the MD and CEO of Bharti AXA Life Insurance, said that once the nominee sends the claim intimation on the specified number through WhatsApp, a dedicated representative from Bharti AXA would be accessing this message and sending a quick response to the nominee.
The nominee will then have to upload the required claim documents by clicking on a link, which will be shared with the concerned individual by the Bharti AXA representative. The insurer will then communicate the decision with regard to the claim to the nominee and will credit the claim settlement amount to the nominee’s bank account.
Mr. Seth added that Bharti AXA has already processed a number of claims that were received via WhatsApp successfully.
26 September 2018
Bharti AXA Life Insurance is the first life insurance company to have entered into an alliance with a payments bank to offer a life insurance plan. Bharti AXA will now distribute the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) through Airtel Payments Bank. The government-backed life insurance scheme provides Rs.2 lakh death benefit and is available at a nominal premium amount i.e. Rs.330 per year. Any individual from 18 years to 50 years can avail this life insurance policy through a completely secure digital process. The new paperless method to provide insurance will make purchasing life insurance convenient for customers. PMJJBY will initially be provided at 1 lakh banking points of Airtel Payments Bank and gradually at 5 lakh banking points. The aim of the alliance is to make life insurance available to 19 crore underinsured Indians.
21 August 2018