Bharti AXA Life Loan Secure



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 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


Non-participating Group Term Plan


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.



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


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.


NA single premium product



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.


  • Bharti AXA Life Group Accidental Death Benefit Rider


  • 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

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