Bharti AXA Flexi Term Plan

A traditional participating, limited pay insurance policy, the Bharti AXA Life Flexi Save Plan is a savings plan that enables policyholders to enjoy the best in life by saving and planning ahead. Individuals who avail this plan can withdraw their savings at any given point of time without having to compromise on the benefits, during the specific Flexi benefit period. Saving is extremely important in today’s unpredictable world especially with today’s economic and political scenario.

The Flexi Save Plan provides a number of unique benefits such as the flexibility to withdraw savings at any given point of time during the specified Flexi Benefit tenure by changing the policy term. Additionally, bonuses can also be availed and customers can choose between three terms for premium payment based on their financial convenience. Policyholders can also avail tax benefits.

Eligibility - Who is the Bharti AXA Flexi Save Plan for?

Minimum Age at Entry (in years)	For a policy term of 20 years - 8 For a policy term of 25 years - 3 For a policy term of 30 years - 0
Maximum Age at Entry	For a policy term of 20 years - 65 For a policy term of 25 years - 60 For a policy term of 30 years - 55
Maximum Maturity Age	85 years
Plan Type	Individual
Minimum Sum Assured	This is dependent on the premium amount paid.

Sum Assured and Premium Range - What you get and what it costs?

Sum Assured:

This amount is based on the premium that is being paid, policy tenure and other factors.

Premium:

Minimum Annual Base Premium	For a 20 year term - Rs.30,000 For a 25 year term - Rs.24,000 For a 30 year term - Rs.15,000
Policy Tenure (in years)	20/25/30
Premium Payment Tenure	For a policy term of 20 years - 5 For a policy term of 25 years - 7 For a policy term of 30 years - 12
Premium Payment Modes	Yearly/Semi-annually/Quarterly/Monthly Customers should note that they can avail quarterly and monthly modes of payment only via Auto Pay.

Customers will have to note that premiums will change based on location, age, plan tenure and other factors.

Plan Coverage - What the Bharti AXA Life Flexi Save Plan covers?

Maturity Benefit	In case policyholder survives until maturity, he/she will receive 100% of the Sum Assured along with Terminal and Accrued Reversionary bonus, if applicable.
Death Benefit	In case of untimely demise of the policyholder, and all premiums have been paid and the policy is ongoing, nominee will receive a higher of - Higher Sum Assured or 105% of premiums that have been paid until the date of death, or Multiple of the Annual Base Premium. In addition to the above, nominee will receive terminal bonus and accrued reversionary bonus (if applicable). In case of death policyholder during the Grace period, death benefit will be paid after unpaid due premiums have been deducted. In case of policyholder’s death after conversion of policy into a paid-up, this amount will be paid to the nominee. If the policy has been lapsed, there will not be any death benefit payable.
Potential upside via Bonus	At the end of the year, Non-Guaranteed Simple Reversionary Bonus will be declared starting from the very first year of policy. This bonus will get added to the policy and will paid along with Maturity or Death benefit, whichever is earlier. Terminal bonus would also be declared and will paid along with Maturity or Death benefit, whichever is earlier.

Riders / Add-On Plans – Additional coverage under the Bharti AXA Life Flexi Save Plan:

Customers can enhance their cover under this plan by availing any of the riders mentioned below:

Bharti AXA Life Hospi Cash Rider	If policyholders avail this rider, they can vail payment of a certain amount of benefit for every day of hospitalization. It also ensures that a fixed amount is paid if the policyholder has been admitted in an Intensive Care Unit. Additionally, in case of surgery, a lump sum benefit is available.
Bharti AXA Premium Waiver Rider	100% of all the future premiums under the base policy will be waived and paid by Bharti AXA Life in case of total permanent disability or critical illness or death, depending on the option.
Bharti AXA Life Accidental Death Benefit Rider	This regular pay and non-linked rider ensures that 100% of Sum Assured in case of policyholder’s death due to an accident, as long as the policy is in-force.

Exclusions - What the Bharti AXA Life Flexi Save Plan does not cover?

In case the policyholder commits suicide, whether sane or insane, within a period of a year from date of policy issuance, the policy will cease and only the premiums that have been paid until then will be refunded.

In case the policyholder commits suicide, whether sane or insane, within a period of a year from date of policy reinstatement, the policy will cease and only higher of applicable surrender value on the date of death or 80% of all premiums that have been paid, will be refunded.

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

Free Look Period	In case policyholders are not satisfied with the plan, they have the option to return the same along with stated reasons, within a period of 15 days from date of receipt of policy. Amount that is equal to premiums will be refunded minus medical costs and stamp duty.
Grace Period	30 days is the time given to policyholders in order to pay the premium from the premium due date. During this time, there is no impact on the policy benefits.
Lapsation	In case the policyholder is unable to pay the premium within the grace period, the policy will lapse and he/she will have two years to reinstate this policy.
Policy Loan	This facility is available with the Flexi Save Plan. Individuals can avail a maximum loan of 70% of the acquired surrender value.
Reinstatement	Policyholders have the option to reinstate all benefits under their policy within a period of 2 years if the policy has lapsed or has acquired paid up status. However for this to take place - A written application is needed along with - Satisfactory insurability evidence Payment of overdue premiums along with interest
Surrender of Policy	Plan will acquire surrender value once payment of two annualised regular premiums for the tenure of 5 and 7 years. For a premium payment tenure of 12 years, surrender value will be acquired after payment of three annualised premiums.

Tax Benefits - How you can save with the Bharti AXA Life Flexi Save Plan?

Customers can avail tax benefits on all premiums paid within a limit of Rs.1,00,000 and on all benefits that are received based on the provisions under Section 80C and Section 10 (10D) of the Income Tax Act of 1961. However, tax laws are subject to change hence individuals are asked to consult their tax advisors for further information.

Why you should buy the Flexi Save Plan from Bharti AXA Life?

One of the most well-known providers of insurance in the country, Bharti AXA Life is a co-branded company that is known for its unique and affordable insurance plans. This company has its presence in a number of cities within the country and works to ensure that they are available anytime and anywhere. Bharti AXA places a lot of importance on reliability and attentiveness, making this company one of the most sought after in terms of insurance. Additionally, Bharti AXA also boasts of a high claim-settlement ratio.

Individuals can also avail a number of other benefits such as hassle-free claims process, availing an advisor, round the clock customer care service and state of the art technology. Individuals can also purchase plans online by visiting the Bharti AXA Life website.