• Bharti AXA Life Elite Advantage Plan

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Overview

    This is an insurance product with more benefits than life insurance coverage – it also offers Guaranteed Payouts of 8.5% to 9.5% (provided that the policy is in force, these payouts start after the policy term and are dependent upon the premium band and the premium paying term). It also provides 100% of the Sum Assured on maturity, in addition to comprehensive protection right to the end of the policy term.

    Eligibility Conditions of Bharti AXA Life Elite Advantage Plan

    Entry age

    • The minimum entry age is
      • 8 years old for 10 year policy term.
      • 6 years old for 7/12 year policy term.
    • The maximum entry age is
      • 65 years.

    Maximum maturity age

    • 75 years for 10 year policy term.
    • 77 years for 7/12 years policy term.



    Key Features of Bharti AXA Life Elite Advantage Plan

    Type

    Traditional non-linked, non-participating, endowment plan.

    Sum assured

    100% of the Sum Assured on maturity is paid at the end of the 20th year.

    Coverage

    Death benefits: The death benefit of this policy is the higher of:

    • Sum Assured on Maturity, or
    • 11 times the base annualized premium, or
    • 105% of the premiums paid up till date.
    • During the grace period for payment of overdue premiums, the Death Benefit will be payable after deducting the unpaid overdue premium.
    • No benefit payable when the policy is in lapsed status.
    • Paid up value on death will be payable if the policy is in paid up status.
    • No death benefit will be payable of the life insured dies during the maturity payout period.

    Maturity benefits: If the life insured duly pays all premiums on time and survives till the end of the policy term, he/she is entitled to:

    • Guaranteed Payout of a percentage of the Sum Assured on Maturity, which I paid during the maturity payout period.
    • 100% of the Sum Assured on Maturity is paid at the end of the 20th year.

    Basis

    Individual.

    Premiums

    The premiums are determined by your age, premium payment mode, policy term and Sum Assured option chosen.

    Minimum Annualized Premium

    - 24,000 for 5 year Premium Payment Term

    - 15,000 for 7 year Premium Payment Term

    - 12,000 for 12 year Premium Payment Term

    Premium payment term

    • 5 years for 10 year policy term.
    • 7 years for 12 year policy term.
    • 12 years for 12 year policy term.

    Premium paying modes

    There are four premium paying modes to choose from:

    • Monthly
    • Quarterly
    • Half-yearly
    • Yearly

    Policy term

    10 years or 12 years, depending on the premium payment term you choose.

    Policy validity

    It is valid for the tenure of the policy provided all the premiums are paid.

    Reinstatement

    All policy benefits can be reinstated within 2 years of the defaulted premium. Bharti AXA requires the following, before the policy can be reinstated:

    • A written application for reinstatement.
    • Evidence of insurability.
    • All overdue premiums to be paid up, plus an interest rate which the company will decide from time to time.

    Bonuses

    N/a.

    Other features

    • Freelook period: The freelook period is 15 days within which a policy can be cancelled and the premium paid can be refunded (subject to certain deductions).
    • Grace period: The grace period for this policy is 30 days from the due date of the premium.
    • Quarterly and monthly payments can only be made through ECS.
    • A policy can be reinstated within 2 years of it lapsing.
    • Once the policy has acquired Surrender Value, a loan can be taken from the company. These loans are as per provisions contained in the policy. The maximum loan amount can’t exceed 70% of the Surrender Value.

    Add-on covers / Riders

    This policy offers the possibility of adding on the Hospi Cash rider.



    Benefits and Advantages of Bharti AXA Life Elite Advantage Plan

    • The premiums paid towards this policy are eligible for tax benefits under section 80C of the IT Act.
    • The monthly income received is eligible for benefits under section 10(10D) of the IT Act.
    • Once the policy has achieved a surrender value, policyholders can take a loan of up to 70% of surrender value.
    • Guaranteed payout:

    Policy Term

    Premium Payment Term

    Guaranteed Payout

    Annualized Premium

    Guaranteed Payout as a % of Sum Assured on Maturity

    10 years

    5 years

    End of 10th year to the end of the 19th year.

    Rs.24,000 – Rs.49,999.

    8.5%

         

    Rs.50,000 – Rs.99,999.

    9%

         

    Rs.1,00,000 and above.

    9.5%

    12 years

    7 years

    End of 12th year to the end of the 19th year

    Rs.15,000 – Rs.49,999.

    8.5%

         

    Rs.50,000 – Rs.99,999.

    9%

         

    Rs.1,00,000 and above.

    9.5%

    12 years

    12 years

    End of 12th year to the end of the 19th year

    Rs.12,000 – Rs.49,999.

    8.5%

         

    Rs.50,000 – Rs.99,999.

    9%

         

    Rs.1,00,000 and above

    9.5%

    How Does The Plan Work?

    Once you start paying premiums for the chosen Premium Payment Term, your policy and life insurance cover is in effect. At the end of your Policy Term, your Maturity Benefit period will begin, in which you will be paid regular Guaranteed Payouts until the end of the 19th year, and after this at the end of the 20th year, you will receive 100% of the Sum Assured at Maturity as a lump sum.

    Let’s Understand This With an Example

    Mr. Babu, a 35 year old software developer, wants a supplementary income and insurance cover in case the worst should come to pass. He plans to purchase a really nice dream car by the time he’s 55 (in 20 years) and requires a large cash infusion at that time.

    Mr. Babu opts for the Bharti AXA Life Elite Advantage Plan, and pays his premiums regularly. He’s in good health, and chooses a 12 year Policy Term and 12 year Premium Paying Term. His annualized premiums is Rs.1,00,000, and the company decides that his Sum Assured on Maturity is Rs.12,29,256 (considering his age and other factors).

    He will receive guaranteed life cover and his family will receive financial protection in the event of his death, which is equal to the higher of 100% of the Sum Assured, or 105% of the Premiums Paid, or 11 times the annualized base premium.

    If he survives till the end of the Policy Term, he will be given a Guaranteed Payout of Rs.1,16,779 every year, till the end of the 19th year after the policy has come into force.

    At the end of the 20th year, he will receive 100% of the Sum Assured, which is Rs.12,29,256, more than enough to make a down payment on his dream car.

    Life cover till the end of the Policy Term, guaranteed payouts after that and a huge lump sum payment at the end of the 20th year – Mr.Babu has achieved his goals of a regular supplementary income and a huge cash infusion – and also gives his family peace of mind against financial instability.

    Riders

    • Hospi Cash Rider: The Hospi Cash rider provides the dual benefit of daily cash in case the policyholder is hospitalised and it also pays out a lump sum in such a case.

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

    Bharti AXA Life Elite Advantage Plan Reviews

  • Page 1 of 7 1 2 3 4 5
    • Bharti Axa Life Life Insurance
      "Best Policy Ever with Good Sum Assured Amount"
      0.5 5.0/5 "Blown Away!"
      Bharati - Axa policy is a death benefit policy. We will not get anything if nothing happened within the tenure of the policy. The family will get the amount if something happened to the policy holder. This a Term insurance Policy. I have been paying Rs.18000/ per year. The Sum assured amount is 1 crore. There is no others benefits. Total Tenure of the policy is 20 years. This is the best policy ever in the market
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 03, 2018
    • Bharti Axa Life Life Insurance
      "Satisfied"
      0.5 4.0/5 "Great!"
      My life insurance is with Bharti-Axa. The services are good. It was quite easy to buy the policy. The tenure is for 15 to 20 years. The premium is paid on a quarterly basis. I can make my payments on time and it the sum assure is also good. It is beneficial too.
      Was this review helpful? 0
      , solapur
      Reviewed on Mar 23, 2018
    • Bharti Axa Life Life Insurance
      "Good insurance"
      0.5 4.0/5 "Great!"
      I have taken a life insurance policy with Bharti Axa. It is a good policy and am satisfied with the benefits. The customer was good. The total duration is 12 years and I have completed 5 years. I pay the premium through online. I am paying 50K per annum for this policy.
      Was this review helpful? 0
      , kolkata
      Reviewed on Mar 13, 2018
    • Bharti Axa Life Life Insurance
      "Average Policy"
      0.5 2.0/5 "Expected more"
      I have a term insurance with Bharti Axa from last 3 years and it is a average policy to use. The tenure of this term insurance is 20 years. I make my premium payments once in a year by net banking. Customer service is not up to the mark and they do not give the right information about the policy. I am happy with the coverage of this policy.
      Was this review helpful? 0
      , kolkata
      Reviewed on Mar 08, 2018
    • Bharti Axa Life Life Insurance
      "Good Investment"
      0.5 4.0/5 "Great!"
      I have taken around 5-6 Insurance policy from Bharathi Axa. I have been paying Rs.17000 as a premium for a year. They are giving me good return on it. It's a monthly Income plan. The return is a fixed one and as per market standards. Decent experience with them.
      Was this review helpful? 0
      , lucknow
      Reviewed on Mar 02, 2018
    • Bharti Axa Life Life Insurance
      "Excellent"
      0.5 4.0/5 "Great!"
      Taken a life insurance with BHARTI-AXA LIFE INSURANCE. The insurance is policy is good and plan benefits are really very good. The payment is done via online transfer. Also I have been paying rs 1,00,000 per year. The tenure period is for 15 years.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Feb 14, 2018
    • Bharti Axa Life Life Insurance
      "Best"
      0.5 5.0/5 "Blown Away!"
      Taken my life insurance with BHARTI-AXA LIFE INSURANCE, their response is great with them and I have not faced any issues with them till now. I have completed 10 years with them. Responsiveness and other features are really better one with the BHARTI-AXA LIFE INSURANCE.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 23, 2018
    • Bharti Axa Life Life Insurance
      "Good "
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Bharti axa life insurance company and their response is fine one with them and I have not faced any issues with them till now. Responsiveness and other features are really better one with the Bharti axa life insurance company.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 18, 2018
    • Bharti Axa Life Life Insurance
      "One of the best"
      0.5 5.0/5 "Blown Away!"
      I do have life insurance policy with the Bharti Axa life insurance company and I have not made any claims with them. Its the term policy and the coverage value is around a crore of Rupees like I would say its really a huge one. Customer service is up to the mark with them.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 02, 2018
    • Bharti Axa Life Life Insurance
      "Reliable Insurance "
      0.5 4.0/5 "Great!"
      I have taken a Term Insurance with Bharti -Axa Life insurance.I pay the lowest premium compared to others but the benefits are huge unlike other companies.The premium amount is 8400.The policy coverage is 50 lakhs.I have this policy ten years ago.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 13, 2017
    • Bharti Axa Life Life Insurance
      "Plan benefit should be increased"
      0.5 3.0/5 "Satisfactory"
      I am not happy about Plan benefits of Bharthi AXA life insurance, I used to make high premium for the policy cover but its not upto the mark. I paid the tenure of ten years, but I got some benefits, I would like to suggest them, they should increase their benefit of policy.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 01, 2017
    • Bharti Axa Life Life Insurance
      "Good term policy"
      0.5 4.0/5 "Great!"
      I got this Insurance trusting the Rs. 1 Crore coverage provided by this company. I have been paying Rs. 7500 per year and doing it properly for the past 3-4 years. I have taken a term policy and am making the payment through online. The overall experience with them has been good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 24, 2017
    • Bharti Axa Life Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      I am having the Bharathi-axa life insurance policy for past 3 years. This policy has the term of Rs10years. I pay Rs, one lakh as premium to this policy. I pay the premium through ECS mode , it will get auto deducted from my savings account. I would say I got good policy to use.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 20, 2017
    • Bharti Axa Life Life Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have taken a life insurance with Bharati- Axa.I have been using it since 2012.I pay a premium amount of Rs 9000 annually.I make a payment through online.I get a policy coverage of 1 crore.The online service is good,comfortable to check for the updated information.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 17, 2017
    • Bharti Axa Life Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      Have life insurance policy with Bharathi axa for past one year . This policy has the tenure of 12years. I pay the premium of Rs,15000 every year, The customer support is good with Bharathi axa life insurance policy. I would say it is a very good policy to use.
      Was this review helpful? 0
      , guntur
      Reviewed on Nov 11, 2017
    • Bharti Axa Life Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have the life insurance policy with the Bharti axa life insurance company and the customer service is good one for me. I would like to say that the policy coverage value is up to the mark and I really dont have any issues on it.
      Was this review helpful? 0
      , tiruchirapalli
      Reviewed on Nov 04, 2017
    • Bharti Axa Life Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a life insurance service with BHARATHI AXA it was about seven years I have taken one policy with BAHRATHI AXA and the payments where online staffs are good but I feel the policy and the charges are not as much as I expected from BHARATHI AXA.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 31, 2017
    • Bharti Axa Life Life Insurance
      "Better policy to use"
      0.5 4.0/5 "Great!"
      Have the Bharathi axs life insurance policy for past 21years. The life insurance service is good with baharathi axa. I pay the premium of Rs,55,000 per year. This policy has the tenure of 25years. The customer support is good with bharathi axa.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 25, 2017
    • Bharti Axa Life Life Insurance
      "Benefits are good"
      0.5 5.0/5 "Blown Away!"
      Bharti Axa life insurance is pretty good in the customer services. They send me reminders for the payments and it is easy to make the payments online as well. The tenure is for 25 years and the benefits and coverage for the policy is satisfactory.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 25, 2017
    • Bharti Axa Life Life Insurance
      "Average "
      0.5 2.0/5 "Expected more"
      I am having the life insurance policy with the Bharti Axa life insurance policy because they used to not provide the proper response to the customer after getting the policy. Customer service is not really a good one with them and the plan benefits are good one but the executives are not up to the mark while it comes to the matter of services.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 07, 2017
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