Bharti AXA Life Super Series 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
Offering financial security while keeping in mind the welfare of a family in the case of an eventuality, Bharti AXA Life Insurance has launched the Bharti AXA Life Super Series Plan. The Bharti AXA Life Super Series Plan offers a guaranteed increase in payouts and a lump sum payout at the point of maturity. In case of untimely death of the policyholder during the term, the nominee of the deceased will receive a lump sum payout.
Eligibility - Who is the Bharti AXA Life Super Series Plan for?
To be eligible for the Bharti AXA Life Super Series Plan, customers need to meet certain criteria.
| Parameters | Details |
| Entry Age | Minimum: 6 years (For Super 6 plan) 0 years (For Super 10 plan) Maximum: 63 years (For Super 6 plan) 60 years (For Super 10 plan) |
| Maturity Age | Minimum: 75 years (For Super 6 plan) 80 years (For Super 10 plan) |
| Policy paying term | 6 years (For Super 6 plan) 10 years (For Super 10 plan) |
Sum Assured and Premium Range - What you get and what it costs?
Sum Assured: The sum assured depends on the premium and the plan (Super 6 or Super 10) chosen by the policyholder.
Premium: The minimum annualised premium for the Super 6 plan is Rs.18,000 and for the Super 10 plan is Rs.15,000. There is no maximum premium for the Bharti AXA Life Super Series Plan.
| Parameters | Details |
| Policy Term | 12 years (For Super 6 plan) 20 years (For Super 10 plan) |
| Premium Payment Term | 6 years (For Super 6 plan) 10 years (For Super 10 plan) |
| Minimum annualised premium | Rs.18,000 (For Super 6 plan) Rs.15,000 (For Super 10 plan) |
| Premium payment modes | Annual, half-yearly, quarterly, monthly |
Plan Coverage - What the Bharti AXA Life Super Series Plan covers?
| Super 6 or Super 10 | Policyholders have the option of choosing a Super 6 or a Super 10 plan, depending on the investment they wish to make. The money back benefits for Super 6 will be for 6 years and 10 years for the Super 10 plan. |
| Money back benefits | At the point of maturity the policyholder is eligible for a 50% lump sum payout of the sum assured and a guaranteed fixed regular income of 12% of the sum assured. The payout increases by 3% with every passing year. |
| Maturity benefit | At the maturation of the term, the policyholder will receive a lump sum of the sum assured. |
| Guaranteed maturity addition | Policyholders are liable to an additional 30% on top of the sum assured at the maturation of the term. |
| Death benefit | In case of untimely death of the policyholder, the nominee will be liable to:
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Exclusions - What the Bharti AXA Life Super Series Plan doesn’t cover?
If the policyholder commits suicide within a year of the commencement of the policy, the nominee will receive 80% of the premiums paid till that point. No other benefit will be applicable in the case of suicide.
Other Key Features – Free-look Period, Surrender Values, Grace Period etc.
The key features of the Bharti AXA Life Super Series Plan are listed as follows:
| Loans against the policy | Policyholder as a backup can take loans against the policy, provided the loan amount does not exceed 70% of the surrender value. |
| Grace period | Policyholder are given a 30 day grace period to pay their premiums. |
| Policy Lapse | The policy will lapse if policyholders fail to pay the premium within the grace period. |
| Revival | Policyholders can revive the policy within 2 years of the first unpaid policy. If all the premiums and the interest accrued are covered by the policyholder, he/she is eligible for all the applicable benefits. |
| Surrender value | The policyholder is eligible for the surrender value if he/she completes 2 years of full premiums paid for the Super 6 and 3 years for the Super 10 option. |
| Assignment | As per Section 38 of the Insurance Act, 1938, policyholders can assign the policy to anyone of their choice. |
| Nominations | Policyholders can make nominations as per Section 39 of the Insurance Act, 1938. The nominee will be liable to the death benefits in case of untimely death of the policyholder. |
| Free-look period | Policyholders are given a free-look period of 15 days. If he/she disagrees with any of the terms and conditions of the policy, they can return the policy. |
Tax Benefits – How you can save with the Bharti AXA Life Super Series Plan?
Policyholder enrolled with the Bharti AXA Life Super Series Plan are liable to tax benefits under the Income Tax Act of 1961. They can avail benefits under:
- Section 80C of the Income Tax Act, 1961, for contributions (premium) made towards the scheme.
- Section 10 (10D) of the Income Tax Act, 1961, for proceeds from death benefits.
Other Benefits – How you can save with the Bharti AXA Life Super Series Plan?
Bharti AXA Life Super Series Plan has a number of benefits, some of which are mentioned below:
- Policyholders can choose the premium or contribution towards the Birla Sun Life Insurance Group Asset Assure Plan.
- They can also choose the payout modes - annually, half-yearly, quarterly and monthly.
- Policyholders do not have to undergo medical tests to purchase this policy.
- On the Bharti AXA Life Insurance website, customers can avail insurance products of their choice, make claims, take advice, and check the performance of their investments.
- Customers can also pay online using their credit cards, debit cards, e-wallets, etc. They can also make premium calculations.
- Before availing an insurance product, customers can see if the product actually suits their needs and can make an estimation before buying the product.
Why you should buy the Bharti AXA Life Super Series Plan from Bharti AXA Life Insurance?
Since its inception, Bharti AXA has won numerous awards such as Personal Lines Growth Leadership Award 2011 at the India Insurance Awards 2011 and the Award for consistent performance and growth from the period of 2008 to 2011. In addition, they won the Best Product Innovation Award 2012 and Commercial Lines Growth Leadership Award 2012 at the India Insurance Awards 2012, Outstanding Performance in Insurance Category Award 2013, and the Finnoviti: Editor's choice award for service innovation 2013. In 2014, they bagged the Excellence Award by the Institute of Economic Studies in March 2014, Proclaimed the 'Best Insurance Company in the Private Sector - General' by the World HRD Congress at the BFSI Awards, 2014 and lastly the Asia Insurance Industry Awards 2014 for Tech Initiative of the Year.
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