Bharti AXA Life Elite Secure

Bharti AXA Life Elite Secure is a simple term insurance plan that offers a lump sum amount as the life insurance benefit to the nominee in the case of the event of the unfortunate death of the life insured. The plan is an affordable cost option to safeguard the financial future of one’s family against eventuality.

Eligibility Criteria for Bharti AXA Life Elite Secure: 

Age - The ages mentioned below are as per the last birthday

  1. Age at entry - Minimum 18 years and maximum 75 years for 10,15,20,25 & 'To age 75' policy term, 70 years for 5 year term
  2. Age at maturity - The maximum age at maturity is 75 years for 10,15,20,25 & 'To age 75' policy term 70 years for 5 year term

Features and Benefits of Bharti AXA Life Elite Secure: 

The are as follows -

  1. Policy Term -
    • Fixed Policy Term -
    • Minimum - 5 years
    • Maximum - 25 years
    • Customised Policy Term - 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 annually, semi-annually, quarterly or monthly
  4. Sum Assured - The minimum sum assured is Rs. 25,00,000 and there is no maximum limit on the same, based on the company’s discretion

Benefits offered by Bharti AXA Life Elite Secure are:

  1. Life Insurance Benefit - In case of the death of the life insured, an amount equal to the sum assured will be paid to the nominee
  2. Hospi Care Rider Benefit - An optional rider can be availed along with this policy by paying an additional amount of premium. This rider allows for payment of a fixed benefit for each day of hospitalisation and in case of surgery, a lump sum is also provided
  3. Tax Benefits - As per the Income Tax Act of 1961, the premiums paid and the benefits from this term insurance plan are acceptable terms for tax benefits

Example Scenario: 

Harish, aged 27, has recently got married to Ankita. Moving into a new home and getting a new vehicle are the things that the couple did first. Meanwhile Harish went a step ahead and applied for Bharti AXA Life Elite Secure online. Harish chose the ‘To Age 75’ option to make things easier with the premium payment and selected a Rs. 1 crore cover. As per his age at the time of entry into the policy, Harish needs to pay a premium of about Rs. 28000 annually to keep the policy in force.

At the age of 70, Harish passes away leaving behind two sons, a daughter and a grandson. Harish had nominated his grandson to receive the life insurance benefit and thus, Vignesh’ education can now be done without any financial worries.

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

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