Bharti AXA Life eProtect 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
The Bharti AXA Life eProtect Plan is an online term insurance policy. It is an affordable insurance plan that offers great protection to your loved ones when you are not around. The tenures that come with the Bharti AXA Life eProtect Plan are flexible and the cover can be availed by the policyholder up to an age of 75 years. In case of an unfortunate event where the policyholder encounters death, this policy takes care of his/her loved ones in a hassle-free manner.
Eligibility – Who is the Bharti AXA Life eProtect Plan for?
In order to be eligible for the Bharti AXA Life eProtect Plan, a customer has to fulfil certain eligibility criteria with respect to his/her age and the amount of insurance he/she seeks. These conditions are as shown below:
In case of policyholders between the ages of 18 years and 39 years:
| Parameters | Criteria for Eligibility |
| Maximum age at entry (fixed policy terms) | 39 years |
| Maximum age at entry (customized policy term) | 39 years |
| Maximum age at the time of cover ceasing (fixed policy terms) | 69 years |
| Maximum age at the time of cover ceasing (customized policy term) | 65 years |
| Term of the policy (fixed policy terms) | 10 years, 15 years, 20 years, 25 years and 30 years |
| Term of the policy (customized policy term) | Cover ceasing age chosen by the policyholder at the time of entry |
In case of policyholders between the ages of 40 years and 65 years:
| Parameters | Criteria for Eligibility |
| Maximum age at entry (fixed policy terms) | 65 years |
| Maximum age at entry (customized policy term) | 65 years |
| Maximum age at the time of cover ceasing (fixed policy terms) | 75 years |
| Maximum age at the time of cover ceasing (customized policy term) | 75 years |
| Term of the policy (fixed policy terms) | 10 years, 15 years, 20 years, 25 years and 30 years |
| Term of the policy (customized policy term) | Cover ceasing age chosen by the policyholder at the time of entry |
Sum Assured and Premium Range – What you get and what it costs?
Sum Assured – It is the amount that the nominee of the insured person receives upon the unfortunate demise of the policyholder. The minimum sum assured under the Bharti AXA Life eProtect Plan is Rs.25,00,000. The sum assured under this policy is same as the death benefit.
| Minimum Sum Assured | Rs.25,00,000 |
| Death Benefit | Total Sum Assured |
Premiums – It is the amount that the policyholder pays to the insurer to keep the Bharti AXA Life eProtect Plan active. Under the Bharti AXA Life eProtect Plan, the premium payment modes that can be availed by the insured individual are semi-annual and annual. The premium payment terms remains same as the term of the policy.
| Premium payment modes | Semi-annual and annual |
| Premium payment term | Same as the term of the policy |
Disclaimer – premiums may vary depending upon factors like term of the plan, location, age, etc.
Plan Coverage – What the Bharti AXA Life eProtect Plan covers?
| Life Insurance Benefit | If the life insured encounters death in an unfortunate event, the nominee or the legal heir receives the sum assured as the life insurance benefit. |
| Family Care Benefit | Unfortunate events can walk into anyone’s life at any given point. The Family Care Benefit is a unique feature that can be availed by the nominee of the insured person upon the policyholder’s death. The insurer pays an amount of Rs.1,00,000 within a span of 48 hours from the submission of all the claim documents. This particular benefit can only be availed by the policy is active and the life assured has completed 2 policy years from the commencement date or reinstatement date of the policy. |
| Affordable premiums | The premium rates associated with the Bharti AXA Life eProtect Plan are affordable. |
| Hassle-free purchase | This policy can be purchased online which saves a lot of effort and time that would have been required otherwise. |
Exclusion – What the Bharti AXA Life eProtect Plan does not cover?
Suicide Exclusion – In case the policyholder commits suicide within a period of one year from the issuance date of the policy or the reinstatement date of the policy, whether insane or sane, the beneficiary or nominee of the insured person receives 80% of the premiums paid till the date of the policyholder’s demise. The Bharti AXA Life eProtect Plan gets lapsed after that and further benefits are not payable.
Other Key Features of Bharti AXA Life eProtect Plan:
| Free look period | If the policyholder does not like the terms and conditions of the Bharti AXA Life eProtect Plan, then he/she can choose to return the policy to the insurer. The policyholder must provide the reasons for not choosing the policy in writing. The policy document (original) along with the cancellation request must be sent to the insurer. |
| Grace period | A grace period of 30 days can be availed under the Bharti AXA Life eProtect Plan for payment of due premiums. During this period, the benefits available under the policy are not impacted. In case the policyholder encounters death during the grace period, the death benefit is received by the nominee after deduction of unpaid premiums. The policy will get terminated after that. |
| Revival | The Bharti AXA Life eProtect Plan can be revived within a period of 2 years from the date of the first unpaid premium. Reinstatement of the insurance policy only takes place when satisfactory insurability evidence of the insured individual is produced. All unpaid premiums along with applicable interest charges must be cleared before reinstatement of the plan can take place. |
Tax Benefits – How you can save under the Bharti AXA Life eProtect Plan?
Tax benefits can be availed with the Bharti AXA Life eProtect Plan as per the prevailing Income Tax laws. However, these benefits may change from time to time.
Why you should buy the Bharti AXA Life eProtect Plan from the Bharti AXA Life Insurance Company?
Bharti AXA Life Insurance Company is one of top insurance providers in India. The solutions offered by them are tailored to meet the changing demands of the customers. It is the joint venture of Bharti Enterprises and AXA. The Bharti AXA Life eProtect Plan is an affordable insurance plan that offers great protection to your loved ones when you are not around. The tenures that come with the Bharti AXA Life eProtect Plan are flexible and the cover can be availed by the policyholder up to an age of 75 years.
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