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.
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.
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.
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:
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:
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:
|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
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.