Bharti AXA Life Accidental Death Benefit Rider Plan

• Reduce taxable income by up to Rs. 1,50,000 deduction under section 80C**
• Convenient payment options - annual, half-yearly, quarterly or monthly premium payments
• Do more with plans that offer pure protection, retirement planning and investment options

According to data released by the National Informatics Centre (NIC), India sees close to 2 lakh accidents each year. While some of these lead to injuries, others tend to be much more and will lead to fatalities. This is one of the reasons why having an accidental benefit rider on top of a life insurance policy becomes important. The Accidental Death Benefit Rider offered by Bharti AXA allows a policyholder to provide their family members with an additional layer of financial protection, in case the person insured succumbs to an accident.

This policy is available for marginally lower premiums and provides coverage for the same period as the base plan.

Eligibility - Who the Bharti AXA Life Accidental Death Benefit Rider Plan is for?

Any individual with a Bharti AXA life insurance policy can choose to add this rider onto their plan, provided that they pay a small premium. To get this policy, however, there are a few criteria that need to be met. You will find them mentioned below:

Sum Assured and Premium Range - What you pay and what you get?

Sum Assured: Sum Assured is the amount an individual’s nominees will receive if he/she succumbs due to an accident. Here’s what the Sum Assured looks like under this rider:

Premium Range: You will find the premium range for this policy mentioned below:

Note: Premiums may vary depending on the age, location, plan term, and other factors pertaining to the policyholder and the type of organisation.

Plan Coverage - What the Bharti AXA Life Accidental Death Benefit Rider Plan covers?

The Bharti AXA Accidental Death Benefit Rider comes with a few coverage offerings. They are mentioned below:

Exclusions - What the Bharti AXA Life Accidental Death Benefit Rider Plan doesn’t cover?

There are a few exclusions under this rider, wherein the occurrence of such instances will void the policy. Here’s a list of all the exclusions under this policy:

• If the person insured’s death or disability occurs due to intentional self-harm, insanity, attempted suicide.
• If the person insured’s death or disability occurs due to taking part in any aviation and aeronautical exercise other than being a regular fared passenger.
• If the person insured’s death or disability occurs due to civil commotion, riots, war, hunting, and mountaineering.
• If the person insured’s death or disability occurs while breaching the confines of the law.
• If the person insured’s death occurs due to the consumption of drugs not specified by a certified doctor.
• If the person insured’s death occurs due to taking part in racing or any such hazardous and potentially harmful activities.
• If the person insured’s death occurs due to mental or bodily weakness.
• If the person insured’s death occurs due to being a part of an armed forces, police forces, or as part of a country that is at war with another.

Other Key Features – Freelook Period, Surrender Values, Grace Period etc.

This plan comes with several other key features. They are as follows:

Tax Benefits – How you can save with the Bharti Axa Life Accidental Death Benefit Rider Plan?

The Bharti Axa Life Accidental Death Benefit Rider Plan offers tax benefits based on the prevailing tax rules. Here’s what they look like at present:

• Deductions on premiums paid will be applicable based on Section 80C and 80CCC of the Income Tax Act.
• Deductions on death benefit and survival benefit will be applicable based on Section 10 (10D) of the Income Tax Act.

Why you should buy the Accidental Death Benefit Rider Plan from Bharti Axa Life?

Here are a few reasons why you should opt for Bharti Axa’s Accidental Death Benefit Rider:

• Online assistance: This policy can be bought online and can be serviced online as well. For instance, the policyholder doesn’t have to step into a physical office for any procedure related to the policy. Instead, they can pay premiums, check the fund value, and do much more from the comfort of their homes.

• A world-renowned company: Bharti Axa is a partnership between Bharti Enterprises - a leading business entity - and AXA - a French insurance giant. Through a multitude of insurance plans and connections built over more than a decade, the company serves thousands of customers across different walks of life. The firm was also ranked third for maintaining and nurturing Customer Loyalty by CSMM.
• Good claim settlement: The Company has settled claims worth Rs.41 crore from January 2015 to September 2015 along, and has a great track record with regards to claim settlement.
• Vast network: The Company has more than 124 branches and over 16,000 advisors who cater to needs and requirements of prospective and existing customers.