Bharti AXA Life eProtect+

Bharti AXA Life eProtect+ is a term insurance plan that offers flexible payout options catering to situations that might have differing financial needs, along with a dedicated claims handler for easy processing of claims and nominal rates for premium payment. The plan also has the ease of being applied for online.

Eligibility Criteria for Bharti AXA Life eProtect+: 

Age - The ages mentioned are as per the last birthday

  1. Age at entry - Minimum 30 years for To Age 70 and To Age 75 plans, minimum 18 years for all other terms
  2. Age at maturity - Minimum 45 years and maximum 75 years

Features and Benefits of Bharti AXA Life eProtect+:

The key features of this policy can mentioned as below -

  1. Policy Term -
    • Fixed Policy Term -
      • Minimum - 10 years
      • Maximum - 30 years
    • Customised Policy Term -
      • Up to 60 years
      • Up to 65 years
      • Up to 70 years
      • Up to 75 years
  2. Premium Payment Terms - The premium payment term for this policy is the same as the policy tenure
  3. Premium Payment Frequency - The premiums for this policy can be paid in annual or semi-annual modes
  4. Sum Assured - The minimum sum assured is Rs. 50,00,000 and there is no maximum limit on the same, based on the company’s discretion

Benefits offered by Bharti AXA Life eProtect+ are: 

  1. Death Benefit - In case of the death of the life insured, an amount equal to the sum assured will be paid to the nominee
    • Option 1 - A monthly income for 15 years will be paid to the nominee and that will add up to the Sum Assured
    • Option 2 - 50% of the Sum Assured will be paid immediately on acceptance of the death claim and the remaining amount shall be paid in increasing annual installments over a period of 10 years
  2. Daily Hospitalization Cash Benefit - It is an optional rider that can be availed with the main policy only under the Basic Cover choice and isn’t available for the above mentioned options in Death Benefit
  3. Tax Benefits - As per the Income Tax Act of 1961, the premiums paid and the benefits from this are acceptable terms for tax benefits

Example Scenario: 

Vrijesh, aged 45, is happy with his family of three, including his wife Rishika and daughter Jyotika. After suffering a mild case of bronchitis, Vrijesh opts for a and chooses the Basic Cover option with a Sum Assured of Rs. 1.5 crores along with the DHCB rider for 20 years at Rs. 2000 daily hospital benefit. The policy is chosen for the ‘To Age 75’.

Vrijesh is a non-smoker and gets attractive rates for the premiums, so he needs to pay about Rs. 43000 towards the main policy and the optional rider per year.

At 73, Vrijesh again faces a bronchitis attack and needs to be hospitalised. He receives the benefit from the optional rider and hospital bills are less of a bother. Sadly though, Vrijesh passes away after 2-3 months of hospitalization. Rishika and Jyotika are stricken and Jyotika makes her mother move in together with her and Arnav, her husband. The death claim, after acceptance, pays Rishika a lump sum of Rs. 1.5 crore. Even though Vrijesh is no more, he made sure his wife would always be self-sustained.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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