Bharti AXA Term Insurance

 Bharti AXA Life is one of the leading life insurance companies in India. A joint venture between the Bharti Group and the Paris-based AXA insurance conglomerate, Bharti AXA has been delivering insurance products to Indians across verticals since the year 2006. Among the company’s top-selling products are its term or protection insurance policies. With the uncertainties and unpredictability that life brings, securing your family’s future in the event of any situation is foremost in most minds. Bharti AXA Life Insurance has designed plans that offer complete protection from such eventualities by securing your family’s future at a nominal cost.

Benefits of Bharti AXA Term Insurance:

• Comprehensive range of plans that offer protection against every eventuality.
• Ease of access and choice of premium payment options make it easier for policyholders to meet payment deadlines.
• Attractive rebates and benefits offered for most plans.
• Range of add-ons and riders that can be used to enhance protection and cover under an existing plan.
• Choice of benefit disbursal and full pay-out of sum assured on the demise of the life insured with minimal hassle through claims.

Types of Bharti AXA Term Insurance Plans:

Bharti AXA Life Secure Confident:

This is a simple long-term life insurance policy that provides coverage in the event of any loss or financial burden such as those arising out of a mortgage repayment, etc. The policy provides for full sum assured upon the life insured’s demise during the policy term. Policyholders can choose a policy term ranging from 5 to 25 years based on their requirements. The policy also comes with a range of riders that can be added to the basic policy to provide enhanced protection, based on requirements.

Bharti AXA Life eProtect:

This is an online non-participating term insurance plan that offers the policyholder comprehensive life cover. It also offers family care benefits in the event of the demise of the life insured, where Bharti AXA will pay Rs.1,00,000 within 48 hours of the submission of claim documents towards any expenses the dependents might have. The balance would be paid out at the time of claim settlement. The plan also has lowered premium rates for non-smokers, applicable for sum assured amounting to over Rs.50,00,000. The policyholder can choose any of the policy terms available as well as the mode of premium payment for ease of payment.

Bharti AXA Life eProtect+:

This is a non-participating term life insurance policy that offers policyholders life coverage and can be purchased online with a choice of two death benefit options, as mentioned below:

• Option 1- A monthly income would be paid out for 15 years over 180 instalments, with the income being Rs.8.44 per Rs.1,000 of the sum assured amount. There would be no increase in the amount being disbursed during the death benefit payment period, and the income payable on the life assured’s death would be subject to Bharti AXA’s acceptance of the death claim.
• Option 2- A lump sum consisting of 50% of the sum assured would be paid out immediately upon acceptance of the death claim. The balance 50% would be paid out annually over a 10 year period. The annual income would be paid out at a rate of Rs.4.52 per Rs.100 of the sum assured amount and would be compounded by 10% each year till the 10th year.

Bharti AXA Life Elite Secure Insurance Plan:

This is a comprehensive non-participating term insurance plan that offers the policyholder overall protection and financial stability for the policyholder’s dependents. The sum assured is a minimum of Rs.25,00,000 with a policy tenure that extends up to the policyholder attaining 75 years of age. Additionally, the policyholder can choose from a list of riders to enhance coverage and protection under the policy. The list of riders that can be added to the plan, at an additional cost, are mentioned below:

• Bharti AXA Life Hospi Cash Rider- As the name suggests, this rider pays a fixed sum in the event the life insured is hospitalised. The rider also pays out a fixed lump sum in the event the life insured is required to undergo surgery and a fixed benefit in case of admittance to the Intensive Care Unit (ICU).
• Bharti AXA Life Accidental Death Benefit Rider- This rider is non-linked and pays out 100% of the sum assured in the event of the accidental death of the life insured due to an accident during the time the rider policy is applicable.

Bharti AXA Life Income Protection Plan:

This is a non-linked, non-participating life term insurance policy with premium return. The policy provides comprehensive life coverage with the added bonus of a death benefit and a maturity benefit. The benefits under the policy are as mentioned below:

• Death benefit: In the event of the life insured’s death, the sum assured payable on death will be the highest of 10 times the annualised premium, 105% of all premiums paid till demise, the amount assured to be paid upon death or the sum assured upon maturity.
• Maturity benefit: This is the premium percentage that is paid out to the life insured on maturity of the policy. The policy makes provision for two options through which maturity benefit can be paid, which can be chosen at policy inception based on requirement and are listed below:

Policy term	12 years	15 years	20 years
Maturity benefit option A	100%	100%	100%
Maturity benefit option B	110%	115%	120%

Plan Name	Entry Age	Maturity Age	Premium
Bharti AXA Life Secure Confident	18 years	60 years	Minimum premium payable- Yearly- Rs.1,500 Half-yearly- Rs.780 Quarterly- Rs.405 Monthly- Rs.135
Bharti AXA Life eProtect	18 years (for terms up to 69 years) 40 years (for terms up to 75 years)	75 years	Based on factors such as tenure, health, age etc.
Bharti AXA Life eProtect+	18 years (for terms up to 69 years) 30 years (for terms up to 75 years)	75 years	Based on factors such as tenure, health, age etc.
Bharti AXA Life Elite Secure	18 years	70 years (for 5 policy terms) 75 years (for 10,15,20,25 and ‘up to 75 year’ policy terms)	Based on factors such as tenure, health, sum assured, age etc.
Bharti AXA Life Income Protection	18 years	70 years	Minimum premium: 12 year policy term maturity benefit option A- Rs.4,990 maturity benefit option B- Rs.7,480 15 year policy term maturity benefit option A- Rs.3,565 maturity benefit option B- Rs.3,825 20 year policy term maturity benefit option A- Rs.2,730 maturity benefit option B- Rs.3,825

Why does one need Bharti AXA Life Term Insurance?

Individuals who are looking to safeguard the financial future of their families in the event of any unforeseen circumstance will benefit from a Bharti AXA Life term insurance policy. In addition to providing a range of benefits and perks, the scheme also helps individuals save on tax.

Tax benefits can be availed under the following sections:

Section 80C- under Section 80C, the policyholder can avail a tax deduction on the premium being paid for the life insurance policy. A sum of Rs.1,50,000 can be availed under this section.

Section 10 (10D) - Under Section 10 (10D) of the Income Tax Act, the policyholder can claim an exemption on the amount received through the life insurance policy. Additionally, the death benefit received by dependents is tax-free, irrespective of the type of plan availed.