• Bharti AXA Life Jan Suraksha Plan

    Life Insurance
    • 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

    The Jan Suraksha Plan offered by Bharti AXA is an insurance product designed for micro-financial institutions that offer small loans to NGOs, self-employed individuals and the like who work towards the upliftment and development of economically weak sections of society. The plan has provisions to protect the members of the group with life cover and spouse cover. A single premium payment is required to avail this plan so as to keep it simple and hassle-free.

    Eligibility - Who is the Bharti AXA Life Jan Suraksha Plan for?

    The Jan Suraksha Plan is a simple non-linked non-participating endowment policy. All life insurance policies have certain criteria set out that customers must meet in order to be eligible to avail the policy. This policy will cover all eligible members and their spouse, if applicable. Given below are the eligibility requirements of the Jan Suraksha Plan:

    Particulars Details
    Minimum Entry Age 18 years
    Maximum Entry Age 60 years
    Minimum Premium Based on age, gender and sum assured
    Maximum Premium Based on age, gender and sum assured
    Coverage Period 1 year

    *Ages mentioned are ages last birthday

    Apart from this, the individual must fulfill the following conditions to be eligible for coverage under this policy:

    • He/she has opted for coverage of not more than the specified amount as on the issuance date.
    • He/she has not exceed the age of 59 years.
    • He/she is a member of the institution and/or has a loan outstanding with the policyholder when the coverage starts.

    Sum Assured and Premium Range - What you get and what the Bharti AXA Life Jan Suraksha Plan costs?

    With the Jan Suraksha Plan, the minimum sum assured is Rs.2,000 whereas the upper limit has no cap. A single premium payment will fetch every member coverage for a period of 1 year. Listed below are the details pertaining to the sum assured and premiums of this plan:

    Particulars Details
    Minimum sum assured Rs.2,000
    Maximum sum assured No limit
    Policy term 1 year
    Premium payment terms Single premium
    Premium payment frequency Not applicable

    *Premiums vary based on age, location, plan term and other factors

    Plan Coverage - What the Bharti AXA Life Jan Suraksha Plan covers?

    The Bharti AXA Life Jan Suraksha Plan caters to Microfinance Institutions and their need to provide insurance for their loan customers. Under this plan, the policyholder will be the Microfinance Institution or any organisation similar to this that is involved in lending small-ticket loans to economically weaker sections of society.

    Benefits Details
    Death benefit The death benefit payable is equal to the coverage provided. If spouse cover is opted for, the policy will terminate once the death benefit on either of the lives is paid. If the life insured dies, and spouse cover is opted for, the death benefit is payable to the beneficiary of the life insured.
    Maturity benefit There is no maturity benefit.
    Tax Benefits As per the prevailing tax laws.

    Riders / Add-On Plans – Additional coverage under the Bharti AXA Life Jan Suraksha Plan?

    There are no riders available with this plan.

    Exclusions - What the Bharti AXA Life Jan Suraksha Plan doesn’t cover?

    If the life insured commits suicide within 1 year from the commencement of the policy, whether medically sane or insane, the policy will terminate and no benefits are payable.

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

    Knowing the details mentioned in your life insurance policy document is very important. These details are mentioned in the policy document and you are advised to read it before purchasing it. Given below are some of the important features of the Bharti AXA Life Jan Suraksha Plan.

    Features Details
    Grace Period Not applicable.
    Coverage Period The coverage under this policy will start from the date of issue of the policy subject to the following: Realisation of the premium payment cheque Receipt of all documents and information of the life insured as per the format prescribed by Bharti AXA.
    Free-look Period The policyholder has 15 days to review the policy. If he/she disagrees with the terms and provisions, then they can return the policy along with a letter stating reasons for cancellation. The total premium (including service tax and cess) minus stamp duty will be refunded.
    Loan facility Not available under this plan.
    Surrender Value There is no surrender option under this plan. Therefore, the plan will not acquire a surrender value at any point of time.
    Termination The policy will terminate upon the following events:
    • Expiry of 1 year coverage term
    • Death of the life insured
    • In case of spouse cover, the death of either of the lives insured
    • Cancellation of policy during the free-look period
    • If the life insured forecloses of the loan


    Tax Benefits – How you can save with the Bharti AXA Life Jan Suraksha Plan?

    As per the prevailing tax laws in India, you can claim for tax benefits under Section 80C and Section 10(10 D) of the Income Tax Act, 1961. Tax laws are subject to amendments from time to time. You are advised to consult a tax advisor to maximise your benefits.

    Other Benefits – How you can save with the Bharti AXA Life Jan Suraksha Plan?

    When you choose Bharti AXA as your insurance provider, you can stand to benefit from the following:

    • Renew the policy annually
    • Pay a single annual premium for 1-year coverage
    • Get coverage for individual and spouse
    • Contact the customer care through various avenues
    • Manage the policy online
    • You can send an SMS to Bharti AXA to get advice on a policy
    • Get a quote easily online for your insurance policy
    • Get policy updates through SMSes
    • You can ask for an advisor to guide you
    • Pay premiums online
    • Download brochures and policy bonds online
    • Register and track claims easily online

    Why you should buy the Life Jan Suraksha Plan from Bharti AXA?

    Bharti AXA Life Insurance has a wide range of insurance products and wealth management services in its portfolio. This particular plan caters mainly to organisations that deal with small-ticket loans that are meant to uplift the weaker sections of society. The company operates on a strong foundation of values such as pragmatism, integrity, professionalism, innovation, and team spirit. With innovative products catering to specific insurance needs, customers have an adequate selection to choose from. Since its inception in 2006, the insurance provider has grown to be a leader and preferred company for financial protection and wealth management in the country.

    The Life Jan Suraksha Plan is a product that is designed for microfinance institutions to provide insurance for customers who have outstanding loans. Group members are protected with life cover for a period of 1-year. The policy can be renewed on an annual basis by paying a single premium.

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