Bharti AXA Group Plans

Bharti AXA Life Group Plans are designed to provide customised insurance solutions that benefit both employers as well as employees. Their comprehensive and wide range of options cover most forms of protection and also safeguard the employer’s contribution.

Benefits of Bharti AXA Life Group Plans:

• Comprehensive coverage: The plans offer comprehensive coverage that protects the policyholders from liabilities such as loans and mortgages, in addition to providing life coverage that also extends to spouses and family members.
• Ease of purchase: The policies and plans are easily accessible, making it convenient for both employers as well as employees.
• Tax benefits: The policies and plans offer tax benefits on the benefits received as well as on the premium amounts paid.
• Range of options: The policies are plans come with single premium payment terms, yearly renewable as well as many other forms, providing a wide range of plans from which to choose from.

List of Bharti AXA Life Group Plans:

The various group plans offered by Bharti AXA Life Insurance are listed below:

Bharti AXA Life Loan Secure:

This is a comprehensive group credit protection plan that protects the policyholders’ dependents in the case of any insured event through a pay-out that will settle any outstanding loan liabilities.

Features and benefits of Bharti AXA Life Loan Secure:

• Ease of use: The policy is simple and easy to enrol for, requiring a single enrolment form only.
• Choice of sum assured options: This policy offers members the chance to be insured for a sum assured that is equal to the balance outstanding at the beginning of each month during the loan tenure.
• Moratorium cover: The policy offers moratorium cover, under which the sum assures will remain the same throughout the period and reduce thereafter at the prevailing interest rate.
• Death benefit: In the event of the death of the member, the family will not have to pay off the rest of the loan in the event of an insured event.
• Joint coverage: The policy offers life coverage to two additional lives in addition to the primary applicant, who will have a common liability.
• Continuance of insurance coverage: The policy offers members the choice to continue the insurance coverage under the policy even after the liability has been cleared.
• Premium payment options: The policy has a single premium payable for the entire duration of the policy term, which could be paid separately or by increasing the EMI on the loan outstanding.
• Limited sum assured option: The policy allows for a limited sum assured option, which would be a figure lower than the loan amount that was disbursed.

Bharti AXA Life Smart Bima:

This is a one year renewable group term insurance policy that offers members with a death benefit, thereby safeguarding the future of the policyholder’s dependents.

Features and benefits of Bharti AXA Life Smart Bima:

• Premium payment modes: The policy allows for either an annual premium payment or in monthly instalments.
• Low sum assured: The policy has a low sum assured, with the minimum amount being Rs.5,000 for each life insured under the policy, making it accessible for small organisations as well.
• No medical test: The policy does not mandate a medical test for members before they are issued the policy, with only a declaration of good health required.
• Death benefit: The policy pays out a death benefit in the event of the death of the life insured while he/she is covered under the policy. The death benefit payable is the sum assured amount for the particular life insured.

Bharti AXA Life Jan Suraksha:

This is an insurance policy targeted mainly at micro-financial institutions, Non-governmental Organisations (NGO’s) and the like, that provides a yearly renewable group term life insurance for members.

Features and benefits of Bharti AXA Life Jan Suraksha:

• Joint coverage: This policy provides optional coverage for the member’s spouse as well.
• Single premium: The policy provides for a single premium payment for the whole year.
• Tax benefit: The policy offers tax benefits in the form of tax exemption on amount paid towards premium.
• Death benefit: The policy offers the nominee/nominees a sum equal to the coverage provided to the policyholder.
• Affordable coverage: The policy provides coverage for as low as Rs.2,000, making it an affordable policy accessible to all organisations.

Bharti AXA Life Group Suraksha:

This is a one year renewable group life insurance policy designed mainly for institutions operating in rural and semi-urban sectors, providing life coverage for employees and their families.

Features and benefits of Bharti AXA Life Group Suraksha:

• No medical underwriting: The policy does not require any medical underwriting.
• Yearly renewal: The policy is renewable annually by the main policyholder.
• Premium payment modes: The policy allows for the payment of premiums either annually, semi-annually, quarterly or monthly.
• Low sum assured: The policy has a low sum assured, ranging from Rs.5,000 to Rs.25,000 per member.
• Minimum group size: The policy can be taken out for a group with a minimum of 15 members only.
• Death benefit: In the event of the death of the policyholder, the nominee/nominees will receive the sum assured amount.

Plan Name	Entry Age	Maturity Age	Premium
Bharti AXA Life Loan Secure	18-65 years	75 years	Scheme specific, varying based on underwriting and data submitted by master policyholder
Bharti AXA Life Smart Bima	18-50 years	55 years	Would depend on sum assured amount selected
Bharti AXA Life Jan Suraksha	18-59 years	60 years	Would depend on the coverage amount chosen for the particular policyholder
Bharti AXA Life Group Suraksha	18-54 years	55 years	Would depend on the coverage amount chosen for the particular policyholder

Why should one opt for Bharti AXA Life Group Plans?

Bharti AXA Life Group Plans offer employers a way to provide life coverage for their employees and safeguard their families in the event of an unforeseen circumstance. In addition to the protection under the policies, there are a range of other benefits that Bharti AXA Life Group Plans provide, which are listed below:

• Amounts paid towards premiums are exempt from tax under provisions of the Income Tax Act.
• Amounts received as benefits and bonuses, if any are also exempt from tax under provisions of the Income Tax Act, subject to prevailing tax rules and policies at the time.