Bharti Axa Life Insurance

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Bharti Axa Life Insurance is an amalgamation of the Bharti Group (founded in 1976) and the French multinational insurance firm, Axa. It offers a wide range of life insurance plans that cater to different requirements.

Key Highlights of Bharti AXA Life Insurance:

Bharti Axa life insurance has some key highlights that differentiate it from other insurance firms. These are: 

  • Lower insurance cover 
  • Diverse range of plans for your needs 
  • Unique plans that can be bought online 
  • Responsive customer service reachable through multiple modes of contact 
  • Easy management, payment, and settlement of claims 

Types of Life Insurance Plans Offered By Bharti AXA:

Bharti Axa offers a wide range of health insurance plans as given below: 

  • Protection plans 
  • Savings plans 
  • Investment plans  
  • Group plans 
  • Health plans 
  • Yoddha plans (for armed forces) 

Bharti AXA Protection Plans for Individuals 

Bharti Axa has the following protection plans for individuals: 

Bharti AXA Life Plans  Type  Minimum Sum Insured (Rs.)  Policy Term      (Years)  Minimum Age (Years)  Maximum Age (Years) 
Premium Protect Plan  Term plan  50,000  Up to 35  18  65 
Grameen Jeevan Bima Yojana  Micro-insurance  10,000  Up to 10  18  60 
Flexi Term  Term plan  1 lakh  Up to 20   18  65 
Smart Jeevan  Savings  50,000  Up to 12  18  50 
POS Saral Jeevan Bima Yojana  Term plan  50,000  Up to 25  18  55 
Income Protection  Protection  5 lakh  Up to 20  18  58 

Bharti AXA Savings Plans for Individuals 

Bharti Axa has the following savings plans for individuals: 

Bharti AXA Life Plans  Type  Minimum Sum Insured (Rs.)  Policy Term      (Years)  Minimum Age  Maximum Age 
Shining Stars  Endowment  50,000  Up to 20  18 years  60 years 
Elite Advantage  Savings  Depends on minimum premium  Up to 12  6 years  65 years 
Super Series  Savings  Depends on minimum premium  Up to 20  6 years  63 years 
Super Endowment Plan  Savings  50,000  Up to 20  2 years  60 years 
Monthly Income Plan +  Savings  Depends on policy term  Up to 20  3 years  65 years 
Dhan Varsha  Participating plan  25,000  Up to 25  91 days  55 years 
Samriddhi  Endowment  Depends on minimum premium  Up to 35  0 years  55 years 
Monthly Advantage  Income plan  Rs.50,000  Up to 24  91 days  65 years 
Secure Income Plan  Savings  Depends on policy term  Up to 20  0 years  65 years 
Guaranteed Income Plan  Savings  Rs.25,000  Up to 29  91 days  55 years 
Saral Bachat Yojana  Savings  Depends on policy term  Up to 15  3 years  65 years 
Child Advantage  Savings  Rs.25,000  Up to 21  18 years  55 years 
Aajeevan Sampatti+  Savings  Rs.50,000  Up to 15  91 days  60 years 
Flexi Save  Savings  Depends on minimum premium  Up to 30  0 years  65 years 
Serv Suraksha  Protection  Depends on premium  Up to 5 years  18 years  50 years 

Bharti AXA Investment Plans for Individuals 

Bharti Axa has the following investment plans for individuals: 

Bharti AXA Life Plans   Sum Assured (Rs.)  Policy Term  (Years)  Minimum Age (Years)  Maximum Age (Years) 
Wealth Pro  10 x premium  Up to 59  99 minus age at entry  0 years 
eFuture Invest  Depends on premium  Up to 10  18 years  60 years 
Grow Wealth  Depends on premium  Up to 20  13 years  64 years 
Future Invest Plan  Depends on premium  10 years  18 years  59 years 

Bharti AXA Health Insurance Plans for Individuals 

Currently, there is only one health insurance plan for individuals that is offered by Bharti Axa. This is the Triple Health Insurance plan. Details are as given below: 

  • Minimum age of entry: 18 years 
  • Maximum age of entry: 65 years 
  • Minimum sum assured: Rs.2 lakh 
  • Policy term: 15 years 

Bharti AXA Group Plans 

Bharti Axa offers three types of group plans which are: 

  1. Group gratuity 
  2. Group credit life 
  3. Group term life 

These group plans are as given below: 

  • Term Micro-Insurance Plan 
  • Term Insurance Plan 
  • Accidental Death Benefit Rider 
  • Loan Protect 
  • Loan Secure  
  • Suraksha 
  • Jan Suraksha 
  • Pradhan Mantri Jeevan Jyoti Bima Yojana 
  • Smart Bima 
  • Employee Benefits Plan 

Bharti AXA Yoddha 

Bharti Axa Yoddha is an insurance plan specifically designed for armed forces personnel that provides coverage for war and war-like risks. Under this umbrella, there are three plans offered: 

  • Super Endowment Plan: To build wealth in a systematic manner 
  • Shining Stars: To take care of your child’s financial requirements 
  • Elite Advantage: A savings plan that also offers life insurance coverage 

Bharti AXA Life Riders

      • There are 4 types of riders:

Bharti Axa Term Life Rider:

Parameters
Minimum entry age 18 years
Maximum entry age 60 years
Maximum maturity age 70 years
Term of the rider
  • Minimum term - 5 years
  • Maximum term - 25 years
Frequency of premium payment Frequency of PP is Annual, Semi- Annual, Quarterly & Monthly
Death Benefit Rider sum assured amount

Bharti AXA Life Premium Waiver Rider:

Parameters
Minimum entry age 18 years
Maximum entry age 65 years
Maximum maturity age 70 years

Bharti AXA Life Hospi Cash Benefit Rider

Parameters
Minimum entry age 91 days
Maximum entry age 65 years
Maximum maturity age 85 years
Policy term The policy is offered for fixed terms of 5, 7, 10, 15 & 20 years
Maturity Benefit Not payable
Death benefit Not payable
No Claim Bonus Not available

Bharti AXA Life Accidental Death Benefit Rider:

Parameters
Minimum entry age 18 years
Maximum entry age 65 years
Minimum amount of premiums With respect to offline products - Rs.40 With respect to online products - Rs.25
Term for premium payment Equal to the rider term

Bharti AXA Life Insurance Claim Settlement Ratio:

Year 2016-2017 2015-2016 2014-2015 2013-2014
Claim Ratio 92.37% 80.02% 80.90% 88.13%

How to Check Bharti AXA Life Insurance Policy Status:

If anytime you wish to check the status of your Bharti AXA life insurance policy, you can easily do so by visiting their website. For checking the policy status and details, you will be required to provide policy related details like your policy number and your date of birth. Once you have provided that information, the page will immediately display the details and status of your policy.

Online Premium Payment For Bharti AXA Life Insurance Plans:

For the convenience of their customers and allow them to make premium payments on time, Bharti AXA offers multiple ways of making premium payment online. These are:

      • Online – Customers can pay their premiums online in 3 easy steps via net banking, credit cards or debit cards. First step is to enter policy details, second is to choose the payment mode (net banking, credit or debit card) and confirming the payment. The final step is to enter your authentications details, following which you will get your payment confirmation.
      • InstaPay – Customers can make instant premium payments via their net banking accounts held with any of the many leading banks like HDFC Bank, ICICI Bank, YES Bank, Punjab National Bank, Bank of India, Indian Overseas Bank, Allahabad Bank, J&K; Bank and Oriental Bank of Commerce.
      • E-Bill Payment – Customers can easily receive and pay their premiums electronically via net banking accounts held with the following banks, which include Citibank, ICICI Bank, HDFC Bank, SBI, Corporation Bank and Karur Vysya Bank.
      • Visa Bill Pay – Customers can also make easy premium payments via their Visa enabled credit or debit cards. All they have to do is register on the Visa BillPay site for making premium payments to Bharti AXA.

Bharti AXA Life Insurance Premium Calculator:

You can easily find out how much premium you will have to pay for your Bharti Axa life insurance policy by using the free online premium calculator tool. This provides accurate results instantly and saves you the hassle of doing the calculations on your own. All you have to do to get information about your premium amount is to enter the required details in the calculator such as your age, sum assured amount, policy term, etc. The results will be calculated based on this data.

Bharti AXA Life Insurance Customer Care:

You can contact Bharti Axa Life Insurance through any of the following ways: 

  • Telephone: You can contact the helpline number at 1800-102-4444 (Monday – Saturday; 9 am to 7 pm) 
  • Email: You can send an email to service@bharti-axalife.com 
  • SMS: Send a message with the code ‘'SERVICE’' to 56677 
  • Website: You can also register your contact details on the ‘'Contact Us’' page on the official website 
  • Branch: You can walk into the nearest branch and get your concerns addressed

Market Share of Bharti AXA Life Insurance Company 

The market share of Bharti Axa Life Insurance company is as given below: 

Year  2008-2009  2009-2010  2010-2011  2011-2012  2012-2013  2013-2014  2014-2015  2015-2016 
Market Share  0.3  0.4  0.3  0.2  0.2  0.3  0.4  0.4 

Bharti AXA Life Insurance FAQs:

  1. How can I initiate a claim?
  2. You can initiate a claim by:

    • Approaching a branch office nearest to you.
    • You could also call or email Bharti AXA
  3. What is the process for claims?
    • Step 1: Register your claim with the options mentioned above.
    • Step 2: Upload or submit your documents.
    • Step 3: Track your claim.
    • Step 4: Receive benefits.
  4. How can I track my claim?
  5. Claim status can be tracked on the website at a designated page.

  6. What are the documents necessary to make a claim?
    • Original Policy bond.
    • Statement form of the claimant.
    • Death certificate attested by a competent authority.
    • Photo ID proof of the nominee.
    • Address proof of the nominee.
    • Nominee’s bank passbook and cancelled cheque.
    • Copy of First Information Report (FIR), if applicable if death is due to accident, murder, or suicide.
    • Copy of post mortem report, if applicable if death is due to accident, murder, or suicide.
    • Copy of medico legal cause of death certificate, if applicable for non-accidental death.
    • Copy of all medical records.
  7. When can a claim be rejected by Bharti Axa Life?
  8. Claims can be rejected when:

    • Information is withheld by the policyholder at the time of taking the policy.
    • The event resulting in death does not come under the coverage of the policy.
    • Misstatement of facts.
    • Fraud.
  9. Where should all the documents be submitted for making a claim?
  10. All the documents must be submitted at any Bharti Axa branch office, or mailed directly to the head office.

  11. How long does it take for a claim to be processed?
  12. Bharti AXA works towards processing and resolving claims at the earliest, but it could take up to 6 months depending on the complexity of the case.

  13. Where can I register the claim?
  14. Claims can be registered online at the Bharti AXA website.

  15. How do I register for online payment of premiums?
  16. There is a module on the Bharti AXA website which allows you to register and make premium payments online.

  17. How do I register for ECS payment for premiums?
  18. Premiums can be paid through Electronic Clearing Service (ECS) by filling and submitting an ECS / Direct Debit Mandate Form, which can be found here www.bharti-axalife.com/media/pay-premium/ECS-Mandate-Form.pdf

  19. Can I give another proof of identification for an online insurance application if I do not have my Card?
  20. No, the PAN Card is compulsorily required for all online applications.

  21. Is the eProtect Plan available for NRIs (non resident Indians) or PIOs (person of Indian origin)?
  22. NO, the eProtect Plan is only available for purchase by residents of India. You may contact a Bharti AXA representative for information on plans available for NRIs and PIOs.

  23. How can I determine the ideal amount of Sum Assured?
  24. Customers can increase or decrease their chosen sum assured based on their income status. The ideal amount of sum assured will be displayed in the box displaying the premium.

  25. Are the premium rates lower for non-smokers?
  26. Yes, the premium rates for non-smokers will be lower for non-smokers, due to the lower health risk involved.

  27. If my policy is not issued, how long will it take for me to get my refund?
  28. If the policy has been postponed or declined, your refund amount will be returned to you within 10 working days.

  29. How can I pay Bharti AXA premium online?
  30. The payment of your Bharti AXA premium can be done online with relative ease. All you have to do is enter your policy details, choose the online bank account or credit/debit card through which you wish to make the payment, confirm it, and enter the authentication details to receive an online confirmation.

  31. What netbanking accounts can be used to pay Bharti AXA premiums online?
  32. The netbanking accounts that can be used to make Bharti AXA premium payments online include Axis Bank, Bank of Baroda, Bank of India, Citibank, HDFC Bank, ICICI Bank, IDBI Bank, Indian Overseas Bank, Punjab National Bank, State Bank of India, Union Bank of India, Dhanlaxmi Bank, and Development Credit Bank.

  33. What is Bharti AXA Life Elite Advantage plan?
  34. The Bharti AXA Life Elite Advantage plan is a comprehensive savings plan that provides dual benefits. The first benefit is guaranteed payouts of 8.5% to 9.5% of the sum assured on the maturity of the plan during the course of the Maturity Payout period, and the second benefit is 100% of the sum assured at maturity.

Bharti AXA Life is a private sector life and general insurance provider based out of Mumbai, Maharashtra. It is a joint venture between the Indian conglomerate Bharti Enterprises, and AXA – one of the largest multinational financial and wealth services companies.

Bharti AXA Life insurance policies are available across a wide spectrum. Customers can choose products ranging from traditional to investment plans or ensure protection for their children through a child plan to name a few options. Here’s a brief overview of the available Bharti AXA life insurance products.

News About Bharathi Axa Life Insurance

  • New ULIP launched by Bharti AXA Life Insurance

    Bharti AXA Life Insurance has launched a new insurance plan which is unit linked, called the Bharti AXA Life Wealth Pro. This offers three different but important benefits, which are market-linked returns, more protection, and regular savings. While it provides risk cover in case of the policyholder’s demise, it also offers investment solutions that help customers meet ever-changing financial goals at different milestones of their life. So not only is wealth creation for the long term taken care of, but protection for the family in case of loss of life of the primary breadwinner or policyholder is also taken care of. The age of entry starts at 91 days and goes up to 99 years. There are various options for premium payment ranging from a single payment at the duration of the plan or regular premiums for a limited duration.

    There are two variants to this plan – Legacy and Growth. The Legacy variant offers life insurance cover up to the age of 99 years that amounts to 10 times the annualized premium of the entire term of policy. Premiums only have to be paid either until the age of 60 or for 5, 7, or 10 years. Loyalty additions are given from the 10th year onwards. Annual payout option is available from the 10th policy year onwards. For the Growth variant, there are three choices for policy terms which range from 10, 15, and 20 years with premium payment being either just once or for a duration of 5, 7, 10, 15, or 20 years. Mortality charges and premium allocation charges are returned at maturity. Partial withdrawals are allowed after the lock-in period. Two automatic investment strategies are available which are Systematic Transfer Plan and Dynamic Fund Allocation. Wealth boosters are also provided. There are also various riders available and tax benefits as well.

    24 September 2020

  • SBM Bank India and Bharti AXA Life enter into a bancassurance partnership

    With the main aim of distributing life insurance products through its network, SBM Bank India has entered into a bancassurance partnership with Bharti AXA Life Insurance. As per the agreement, all the life insurance products that are provided by Bharti AXA Life Insurance will be offered to SBM Private Wealth customers. According to the Managing Director and CEO of Bharti AXA Life Insurance, the company is confident that the partnership will provide the bank’s customers with holistic financial planning solutions and protection. SBM Bank India is present in six cities. The partnership will offer life insurance products to SBM Bank customers in Ramachandrapuram, Hyderabad, Bengaluru, Chennai, New Delhi, and Mumbai. In 2019, Bharti AXA Life Insurance entered into a partnership with Karnataka Bank to provide several insurance solutions.

    25 August 2020

  • Bharti AXA Life’s new business premium rises by 25 per cent

    Bharti AXA Life Insurance reported a rise of 25% for its new business premium to Rs.911 crore in March 2019. In the previous financial year, Bharti AXA had earned a new business premium of Rs.731 crore. The annualized new business premium saw an increase of 31 per cent from Rs.489 crore last year to Rs.640 crore.

    The company also registered a 22 per cent hike in the renewal premium from Rs.964 crore in the previous year to Rs.1,164 crore this year. Bharti AXA's total premium rose 23 per cent from Rs.1,684 crore in 2017-2018 to Rs.2,076 crore in 2018-2019. A joint venture between Bharti Enterprises and AXA, the company's asset under management currently stands at Rs.5,699 crore. The AUM saw an increase of 27 per cent from Rs.4,496 crore in the previous fiscal. Bharti AXA's CEO Vikas Seth stated that the company has massive expansion plans in the pipeline in terms of hiring new agents, setting up new branches.

    04 June 2019

  • Bharti AXA Life Insurance receives FICCI Claims Excellence Award

    Bharti AXA Life Insurance has been awarded the Claims Excellence Award by the Federation of Indian Chambers of Commerce and Industry. Bharti AXA Life Insurance is a joint venture between AXA and Bharti Enterprises. AXA is one of the biggest insurance companies in the world. The Federation of Indian Chambers of Commerce and Industry has awarded Bharti AXA with this award for maintaining a very high claims settlement ratio and customer friendly claim methods in the life insurance sector. The awarded was presented to Bharti AXA Life Insurance at the 20th Annual Insurance Conference FINCON 2019 that was held recently. The Federation of Indian Chambers of Commerce and Industry Claims Excellence Award is awarded for providing the best protection against any uncertainty one may face in their life and support the insured family in any way possible at the time of a need. Bharti AXA has taken steps to ensure that the company maintains the claim settlement ratio they have maintained in the last few years. The company is also constantly working on improving the speed at which the claims are settled.

    23 May 2019

  • Karnataka Bank ties up with Bharti Axa for life insurance

    Karnataka Bank and Bharti Axa Life Insurance Company Ltd. have entered a Memorandum of Understanding (MoU) for the distribution of customized life insurance products. Karnataka bank will now distribute the life insurance products of Bharti Axa. The bank has 95 years of experience in banking and 6 years of experience in the life insurance sector. The life insurance products will now be distributed across its 836 branches. For the bank, this will realize its aim of penetrating more of the country with its life insurance products. For the insurance company, it will facilitate more widespread distribution of its products with a strong distribution network that will support its growth strategy. It will also create specially customized life insurance products for the customers of the bank. It will also aim at creating new benchmarks in claims settlements. For Karnataka bank, this is the third tie-up with an insurance company, the first two being with the Life Insurance Corporation of India and PNB MetLife Life Insurance Co. Ltd.

    4 April 2019

  • Bharti AXA Life Insurance Reported 28% Growth in Premiums

    One of the leading private insurance companies, Bharti AXA Life Insurance has recently reported a growth of nearly 28% in their premiums, which rose to approximately Rs.1,359 crore during the nine months to December of the running/existing financial year. It also reported that over the next fiscal years, the insurance company will be focusing on tier 2 and tier 3 Indian cities in order to foster business expansion. This announcement has been made by a top official of the insurance company.

    In the corresponding financial year of 2017-18, the insurance company’s total premium income stood at Rs.1,064 crore. Bharti AXA has announced that it expects to attain a strong double-digit growth by the end of the current financial year. Bharti AXA offers a multitude of financial products for the benefit of its customers. While providing comprehensive life insurance policies, the company has excelled in the field of health insurance as well. The number of comprehensive policies offered by Bharti AXA has increased tremendously. It has been doing extremely well on the business front and the company’s customer base has increasingly skyrocketed over the last few years.

    The company said that for the next financial years, its focus would be on tier 2 and tier 3 cities, in order to have a huge business expansion and customer base expansion that will lead the company to new heights. Bharti AXA also announced that henceforth, it would be focusing primarily on agent productivity, traditional products, and channel distribution diversification.

    18 March 2019

  • Bharti AXA Life Insurance is Expanding its Services

    Bharti AXA Life Insurance company is essentially a joint venture between two of the most globally renowned entities – Bharti Enterprises, which is one of India’s leading and popular business groups and AXA – one of the most highly reputed insurance companies in the world. Their venture Bharti AXA Life Insurance has recently announced that they have been expanding their operations all over India over the preceding financial year.

    Bharti AXA has successfully carved its own niche in the sector of insurance and over the last financial year (2018-19), it has hired nearly 10,000 insurance advisors and has created at least 50 new branches in India. Their business, as is evident, is thriving and their user base is expanding at a tremendous rate. The company – Bharti AXA – has been aggressively planning an expansion drive with the primary objective of strengthening its operations and improving its distribution footprint all across the country. The company has registered a 33% increase in the number of advisors that they have hired. During the financial year 2018-19, the number of advisors at Bharti AXA was 28,638 (as of March 2018). However, with a sharp rise in the number of advisors that the company has hired, the number currently stands at 38,000.

    The company has also established 50 new branches across India to take an enhanced distribution network of 236 branches pan India. The company is yet to execute its expansion plan wholly. Bharti AXA is popular for providing multiple plans ranging from life insurance to health insurance.

    14 March 2019

  • Bharti AXA Life hired 10,000 insurance advisors

    Bharti AXA Life Insurance, one of the leading insurance providers of the country, has kickstarted their expansion plan by hiring 10,000 insurance advisors and adding 50 new branches in the current fiscal year. The move is expected to strengthen their operations and enhance their distributions in the country.

    A joint venture between Bharti Enterprises and French insurance company AXA, Bharti AXA recorded a 27 per cent increase in the distribution network after the addition of 50 new branches. As of March 2018, the company had 186 branches across India. Now, the number has increased to 236 branches. With the branch expansions and hiring of insurance advisors, Bharti AXA plans to enhance the depth and width of their reach in India.

    Bharti AXA recorded a 40 per cent growth in its new business premium from Rs,442 crore to Rs. 617 crore in the period between April to December FY 2018-2019. A 19 per cent growth was recorded in the renewal premium in the first three quarters of this fiscal year at Rs. 742 crore compared to the same period of the last fiscal year.

    13 March 2019

  • Bharti Axa Life Insurance launches new child plan

    Bharti AXA Life Insurance recently launched a new child insurance plan called Bharti AXA Life Shining Stars. The policy acts as a life cover to the parents and financially supports the children in case of any unexpected misfortunes.

    This plan offers parents the option of choosing the maturity payout according to the child's needs and goals. This plan ensures that the children receive guaranteed payouts even in the absence of their parents. Bharti AXA Life Shining Stars is a non-linked policy. It helps parents to accumulate adequate wealth to safeguard their child's future.

    The plan offers two payout options i.e. Flexi payout and Annual payout. Under Flexi payout, the sum insured can be taken as a lump sum during maturity or at the end of the year during the maturity period. It allows the parents to customize the payouts according to the child's needs. Under Annual payout, 5 yearly payouts will be made to fulfil the child's educational needs.

    15 February 2019

  • Policies to be delivered by Bharti AXA life insurance using WhatsApp

    Bharti AXA Life Insurance is one of the largest insurance providers in the country and has now started to deliver policies to customers using the messaging application WhatsApp. Bharti AXA is a joint venture between AXA, one of the leading insurance companies in the world and Bharti Enterprise, one of the big business groups in the country. Renewal premium receipts have also been launched by the company in the messaging service WhatsApp. Bharti AXA had initially launched the facility of claim intimation by using WhatsApp. The introduction of renewal premium receipts and policy documents using WhatsApp was introduced by the Chief Executive Officer of Bharti AXA Life Insurance. The insurance company has now become one of the first insurance providers to offer the option of renewal premium receipts, policy contract, and intimation of claims through WhatsApp. With the use of a popular messaging platform like WhatsApp, Bharti AXA is looking to improve customer engagement and also provide the policyholders with more benefits and comfort. The policy contract will be made available in a short time after the issuance of the policy. Policyholders will now have the option to view or download their policy document instantly without any hassle.

    3 January 2019

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

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