Bharti AXA, one of India’s leading insurance providers offers special child insurance plans to ensure the bright and secure future of your child. These child insurance plans have been designed keeping in mind the various financial requirements which arise with each stage of life, whether it is higher education, marriage or anything else. There are various benefits accompanying these child insurance plans which make them a wise choice if you are looking to secure your child’s future.
Benefits of Bharti AXA Child Insurance Plans:
- These plans have been designed specifically to allow you to meet your child’s future financial needs.
- With child insurance plans, policyholders have the flexibility to choose the maturity period as per every upcoming milestone.
- Policyholders have the option to maximize their savings by investing their plan premiums in various funds for specified durations.
- At the time of maturity, the life insured or their nominee will receive a guaranteed lump sum amount.
- Child insurance plans also offer Death Benefit where the nominee (child) will be entitled to receive a sum assured if the life insured passes away before the end of the policy term.
- Child insurance plans also offer the benefit of Waiver of Premium where the insurance cover will continue even after the demise of the child’s parent or guardian and the unpaid future policy premiums will be paid by the insurer.
List of Bharti AXA Child Insurance Plans:
The child insurance plan offered by Bharti AXA is known as the Child Advantage Plan.
This is a traditional participating savings plan from Bharti AXA which offers multiple benefits like built-in premium waiver, flexibility to choose the policy term, choice of 2 maturity payout options of Money Back or Endowment, etc. This plan also offers a non-guaranteed annual simple reversionary bonus which is added at the end of each policy year if all premiums have been paid.
Features & Benefits of Bharti AXA Child Advantage Plan:
Maturity Benefit options – Policyholders can choose from the Money Back and Endowment option under Maturity Benefit. The Money Back option provides guaranteed pay-outs for the last 5 years before the policy matures. The Endowment option provides a guaranteed lump sum amount when the policy matures.
Waiver Of Premium Benefit – In case the life insured passes away before the end of the policy term, all future premiums will be waived. This is done to ensure that nothing comes in the way of your child’s dreams even when you may not be around to support and guide them.
Life Insurance Benefit – If the life insured passes away during the policy term, their nominee will be entitled to receive the greatest of (i) 110% of Sum Assured (Money Back option) OR 125% of Sum Assured (Endowment option); OR (ii) 11x of Base Annualized Premium.
Death Benefit – The Death Benefit payable under this plan will not be below 105% of total premiums paid.
Choice of Premium Payment Term – You can choose the policy term depending on the age of your child. Policy term options available range from 11 years to 21 years.
Premium Payment Type Options – Policyholders also have the flexibility to choose between 2 premium payment types based on their choice of investment term. They can choose between the Limited Pay and Regular Pay option. Under Regular Pay, premium payment duration is equal to the policy term while under the Limited Pay option, the premium payment term is equal to the policy term minus 5 years.
Riders – To enhance the policy coverage, additional riders are available at a nominal cost. These riders include the Bharti AXA Life Hospi Cash Rider and the Bharti AXA Life Accidental Death Benefit Rider. Under the Hospi Cash Rider, the life insured is entitled to receive a fixed allowance for each day of hospitalization, a fixed benefit amount if admitted to the ICU and a lump sum benefit if undergoing surgery. Under the Accidental Death Benefit Rider, 100% of the sum assured is paid if the life insured passes away following an accident, provided the base policy is in force.
Tax Benefits – Premiums paid towards the policy and the benefits received are eligible for tax benefits under provisions of Section 80C and Section 10 (10D) of the Income Tax Act, 1961.
Premium Payment Mode – Premiums for this policy can be paid on a yearly, half-yearly, quarterly or monthly basis.
||Max. Maturity Age
|Bharti AXA Child Advantage
||Min. - 18 years
Max. – 50 years
||71 years (regular pay)
76 years (limited pay)
||Depends on Sum Assured
Why should one opt for Bharti AXA Child Plans?
With over 9 years of experience, Bharti AXA is undoubtedly one of the market leaders in the insurance segment. Bharti AXA offers well-appointed and simple to understand child insurance plans which are packed with multiple benefits. From flexible premium payment terms and payment frequency to a choice of Maturity options. With Bharti AXA Child Insurance plans, you can be assured that nothing will come in the way of your child’s dreams.