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Bharti AXA Life Insurance Group Plans

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The Bharti AXA Group Plan is aimed at credit institutions such as banks or financial institutions which provide credit to groups of borrowers. The life insured in these cases is the borrower/member while the master policyholder is the corporate/financial authority.

List of Plans

There is 1 insurance scheme and 1 group rider available under the Bharti AXA Group Plan.

  • Bharti AXA Life Loan Secure
  • Bharti AXA Life Accidental Death Benefit Rider

Information and Benefits of Plans

1. Bharti AXA Life Loan Scheme:

This plan is aimed at corporate or financial lenders who can cover their loaned amounts through the scheme. The Bharti axa life plan covers members under a group with a minimum Sum Assured of Rs.1 lakh. Policy term is available from 2 years to 30 years maximum. The Bharti AXA Life Loan Scheme is a non-participating single premium group term insurance plan.

  • Group cover for your borrowers against loan defaults arising out of the unfortunate circumstance of death of a borrower during repayment period.
  • Cover extends to outstanding loan balance at the time of death.
  • 2.5% discount on base premium for joint account holders.
  • Tax benefits as per relevant sections of the Income Tax Act, 1961.

2. Bharti AXA Life Accidental Death Benefit Rider:

This rider is meant to provide cover against accidental death of the life insured during the policy term. This rider is an economical way of extending your cover to include accidental death benefits. Rider term is available from 3 years to 30 years and the maximum cover including all policies should not exceed Rs.50 lakhs.

  • Death benefits on a reducing basis calculated on monthly basis as per coverage, term and assumed interest rate.
  • Single premium plan.
  • Joint cover is available.
  • Tax benefits as per relevant sections of the Income Tax Act, 1961.

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

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