Bharti AXA Life Insurance

Overview

Bharti AXA Life is known for its customer first approach and has been founded by two industry giants, namely Bharti Enterprises and AXA Group. The latter is a global behemoth with a client base of more than 103 million organizations while the former is one of India’s best known business houses. There are other innovative offerings such as digital transactions for more convenience, dedicated claims handlers and fund releases within just 48 hours.

The company offers savings, investment, health and protection plans to its customers and commenced operations from 2006 onwards. The company strives to offer tailor made solutions based on specific needs of its customers.

Bharti AXA Life Insurance at a glance

• With a mission of becoming the most trusted life insurer by 2020
• First insurer to launch services like dedicated claims handlers and 48 hour fund release.
• Ranked No.3 in 2016, in customer loyalty by Annual syndicated customer satisfaction report by CSMM,
• Works on the three core principles of Available, Reliable and Attentive

Bharti AXA Life Term Plans

There are several Term plans on offer which help in building savings along with ensuring an assured sum at maturity. There is a lump sum benefit and scope of extra returns by way of bonuses. There are varied payouts and payment terms for customers to pick from as well.

Documentation needed to apply for Bharti AXA Life Insurance

• Age proof - (Any One)
  Driving License, Passport, Voter ID Card, Birth Certificate, etc
• Identity proof – (Any One)
  Driving License, Passport, Voter ID card, PAN Card, Aadhar Card, or any document which proves citizenship
• Income proof
• Address proof – (Any One)
  Driving License, Passport and Utility Bill should clearly mention the permanent address
• Income proof – (Any One)
  Salary Slip, Form 16, ITR
• Recent passport size photograph

Bharti AXA Term Insurance Plans

• Bharti AXA Life Flexi Term: A pure term insurance plan tailor made to offer optimum protection against any unfortunate incident. The plan allows a choice between 3 different life cover payouts to ensure the family's financial future is secure at all times. The plan offers a maximum coverage term of up to age 85 years with an option to choose from any of the three critical illness options.
• Bharti AXA Life Income Protection plan: A non-linked, non-participating life term insurance plan with a return of premium option. In the event of death of the policyholder, the family continues to receive an income in the form of annual installments for a period of 15 or 20 years. The plan also offers survival benefit where 100-120% of premiums paid are returned at the end of the policy term as a lump sum survival benefit.
• Bharti AXA Life Secure Confident: An affordable term plan allowing for a complete protection for the family against the financial needs or loses. The policyholder can opt for a policy term from various options of 5, 10, 15, 20 and 25 years. The plan offers tax Benefits on the Premiums paid and benefits received as per the IT Act.
• Bharti AXA Life Elite Secure: A simple long-term life insurance product available at an affordable cost. The plan ensures family is well-protected against any eventuality. One can choose the policy benefit period and the Sum Assured (subject to a minimum of Rs 25, 00,000). The available policy terms are 5, 10, 15, 20, 25 years. The plan provides an option to cover life till 75 years with a unique to age 75 years term.

1: Bharti AXA Life Flexi Term: The plan allows a choice between 3 different life cover payouts to ensure the family's financial future is secure at all times.

Advantages and Benefits

• Offering life cover until 85 years of age and the option to choose Critical Illness Benefit.
• Dedicated Claims Handler for all claims
• Half of the death benefit will be paid out as lump sum for immediate needs
• Rest of death benefit paid out as a monthly income increasing annually by 10% at simple rate for a period of 15 years
• Fixed Policy Term options of 10, 15, 20 and 25 years

Feature	Description
Minimum age at entry	18 years
Maximum age at entry	65 years
Maximum Maturity age	85 years
Maximum Sum Assured	Subject to Underwriting
Policy Term	Fixed: 10, 15, 20, 25 years To Age: 60, 65, 75, 85 years
Premium Payment Term	Same as policy term
Premium Payment Modes	Annual, Semi-Annual, Quarterly and Monthly

2: Bharti AXA Life Income Protection plan: A non-linked, non-participating life term insurance plan with a return of premium option. In the event of death of the policyholder the family continues to receive an income in the form of annual installments for a period of 15 or 20 years.

Advantages and Benefits

• Choice of 3 policy terms of 12 years, 15 years and 20 years with premium payment term same as policy term.
• 10 times annualized premium aid as death benefit
• Death benefit paid out in equal annual installments for 15 or 20 years as chosen
• Percentage of the premiums paid offered as maturity benefit

Feature	Description
Minimum age at entry	18 years
Maximum age at entry	58 years for policy term of 12 years 55 years for policy term of 15 years 50 years for policy term of 20 years
Maximum Maturity age	70 years
Min-Maximum Sum Assured	Rs. 500,000- Subject to Underwriting
Minimum Premium	Policy Term of 12 years Maturity Benefit Option A = Rs. 4,990 Maturity Benefit Option B = Rs.7,480 Policy Term of 15 years Maturity Benefit Option A = Rs.3,565 Maturity Benefit Option B = Rs.5,530 Policy Term of 20 years Maturity Benefit Option A = Rs.2,730 Maturity Benefit Option B = Rs.3,825
Premium Payment Term and Policy Term	12 years, 15 years and 20 years
Premium Payment Modes	Annual, Semi-Annual, Quarterly and Monthly

3: Bharti AXA Life Secure Confident: An affordable term plan allowing for a complete protection for the family against the financial needs or loses.

Advantages and Benefits

• Complete protection for your family against the financial loss
• Option to choose from policy term options of 5, 10, 15, 20 and 25 years
• Tax Benefits on the Premiums paid and benefits received

Feature	Description
Minimum age at entry	18 years
Maximum age at entry	55 years
Maximum Maturity age	60 years
Minimum Premium	Rs. 1,500 for yearly Rs. 780 for half-yearly Rs. 405 for quarterly Rs. 135 for monthly premium
Policy Term	5, 10, 15, 20, 25 years
Premium Payment Term	Same as policy benefit period
Premium Payment Modes	Annual, Semi-Annual, Quarterly and Monthly

4: Bharti AXA Life Elite Secure: A simple long-term life insurance product available at an affordable cost. The available policy terms are 5, 10, 15, 20, 25 years.

Advantages and Benefits

• Unique to age 75 years term offering protection till 75 years of age
• Pure Life Insurance cover at affordable premiums
• One can choose the policy benefit period and the Sum Assured (subject to a minimum of Rs 25, 00,000)

Feature	Description
Minimum age at entry	18 years
Maximum age at entry	75 – Term) for 10,15,20 and 25 year terms 65 years for 5 year term and “To age 75” term
Minimum Sum Assured	Rs. 2,500,000
Premium Payment Term	Throughout the Policy Benefit Period
Premium Payment Modes	Annual, Semi-Annual, Quarterly and Monthly