• Bharti AXA Life Loan Secure

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

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    Overview

    The Bharti AXA Life Loan Secure plan is a single premium group term life insurance plan meant to offer comprehensive credit protection in multiple loan segments under a single product. It is a non-participating policy that is aimed at banks or other financial institutions that offer loans to members. The Bharti axa life plan aims to provide cover against outstanding loan balance of borrowers clubbed under the group. In the unfortunate case of demise of the life insured during policy term, the master policyholder (credit institution) can claim the outstanding loan amount while removing financial pressures from the dependents of the life insured.

    Eligibility Conditions of Bharti AXA Life Loan Secure

    Entry Age

    Minimum – 18 years

    Maximum – 65 years

    Maturity Age

    • Maximum 75 years

    Sum Assured

    The Sum Assured is the outstanding loan balance for the remaining loan tenure of participating members. The minimum Sum Assured is Rs.1 lakh while the maximum Sum Assured is as per underwriting.



    Key Features of Bharti AXA Life Loan Secure

    Type

    Non-participating Group Term Plan

    Coverage

    Death Benefit: In the unfortunate case of death of the life insured, death benefit will be payable to the beneficiary. The exact benefit amount will be calculated as per the amortization details at the interest rate fixed during inception of the policy.

    For joint policy holders, death benefit will be paid out in case of the first death, while the second life insured will be terminated after payment of the Surrender Value.

    Basis

    Group

    Policy term

    • Minimum – 2 years
    • Maximum – 30 years

    Premium paying term

    Single premium

    Premium payment frequency

    Single premium

    Surrender Value

    The surrender value is calculated as per the formula given below:

    Surrender Value = SVF * P * U/T * OS/IS

    Where,

    SVF = Surrender Value Factor, which is 45% (if policy is surrendered between 1-3 policy years) or 70% (if policy is surrendered after the onset of 4th policy year).

    P = Single Premium amount

    U/T = Ratio of Unexpired Coverage Term to Total Coverage Term

    OS/IS = Ratio of Sum Assured at the time of surrender to Initial Sum Assured.

    Joint policyholders will have a revised ‘P’ in the above formula as 97.5% of the given premium.

    Renewability

    NA single premium product

    Loans

    NA

    Grace period

    NA single premium product

    Free Look Period

    15 days free look period is offered wherein a policyholder may return the policy if he/she is not agreeable to terms and conditions of the plan. Refund of premium will be processed after adjustments for stamp duty, medical examination and proportionate risk premium for period covered.

    Advantages of Bharti AXA Life Loan Secure

    Tax Benefits

    Tax benefits are available as per relevant sections under the Income Tax Act, 1961. You should consult your tax advisor for more details.

    Joint Cover discount

    2.5% discount will be applicable on base premium payable for each life proposed for coverage in case of joint life cover.

    Riders

    • Bharti AXA Life Group Accidental Death Benefit Rider

    Riders

    • Bharti AXA Life Group Accidental Death Benefit Rider

      The Group Accidental Death Benefit Rider provides enhanced protection in case of the death of a member due to an accident.

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

    Bharti AXA Life Loan Secure 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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