• Bharti AXA Life Monthly Income Plan+

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Overview

    This is a life insurance plan that can be used to provide oneself with a monthly income. It features three different term options and the premiums for this policy are decided by the amount that the policyholder wants to receive as a monthly income. It can even be coupled with a rider to enhance the policy with the waiver of premiums. All investments and returns in this Bharti Axa Life Insurance policy are covered by tax exemptions under various sections of the IT Act. It also offers a limited premium paying term which means that the premiums don’t have to be paid for the entire duration of the policy.

    Eligibility Conditions of Bharti AXA Life Monthly Income Plan+

    Entry age

    • The minimum entry age is
      • 3 for 15 year policy
      • 0 for 20 and 30 year policies.
    • The maximum entry age is
      • 65 years for a 15 year policy
      • 60 years for a 20 year policy
      • 50 years for a 30 year policy

    Maximum maturity age

    80 years

    Key Features of Bharti AXA Life Monthly Income Plan+

    Type

    Limited pay traditional participating insurance plan

    Sum assured

    The minimum sum assured is calculated based on the minimum monthly income multiplied for the duration for which it will be paid.

    • Rs. 1.92 lakhs for a policy term of 15 years.
    • Rs. 2.1 lakhs for a policy term of 20 years.
    • Rs. 1.35 lakhs for a policy term of 30 years.

    Coverage

    Death benefits: The death benefit of this policy is the sum of the sum assured and non guaranteed bonuses like the simple reversionary and terminal bonus or 105% of the premiums paid, whichever is higher.

    Maturity benefits: The maturity benefits are the sum of the simple reversionary and terminal bonuses but neither are guaranteed.

    Reduced paid up benefits: If the premiums are not paid after the surrender value is achieved, the policy is converted to a paid up one based on the premiums that have been paid. Even the monthly income benefits are reduced to match the premiums that have been paid.

    Basis

    Individual

    Premiums

    The premiums are determined by the amount that is supposed to be the monthly income.

    Premium paying term

    Being a limited pay policy, the premium paying term is never the same as the policy term. It also depends on the policy term that has been selected.

    • 7 years for a policy term of 15 years.
    • 10 years for a policy term of 20 years and
    • 15 years for a policy term of 30 years

    Premium paying modes

    There are four premium paying modes to choose from:

    • Monthly
    • Quarterly
    • Half-yearly
    • Yearly

    Policy term

    There are 3 policy terms to choose from:

    • 15 years
    • 20 years
    • 30 years

    Minimum monthly income

    • For 15 year policies it is Rs. 2,000
    • For 20 year policies it is Rs. 1750
    • For 30 year policies it is Rs. 750

    Policy validity

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

    Renewability

    Not Applicable

    Bonuses

    This policy offers a simple reversionary and terminal bonus but neither of them are guaranteed.

    Other features

    • Freelook period: The freelook period is 15 days within which a policy can be canceled and the premium paid 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.

    Add-on covers / Riders

    This policy offers the possibility of adding on riders like the Waiver of Premium and Hospi Cash riders.

    Benefits/Advantages of Bharti AXA Life Monthly Income 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.
    • The surrender benefits available under this policy will range from 10% 90% of the all the premiums paid and depends on the policy term selected and the number of years that the policy has been in force for.

    How the Plan Works?

    The way this plan works is simple. The policyholder will pick an amount that they want to receive as a monthly income. Based on the monthly income, the premiums are calculated. The term for which the benefits will be paid is also decided by the term of the policy.

    Policy term

    Duration of monthly income

    15 years

    8 years

    20 years

    15 years

    30 years

    15 years

    Premium Payment

    The premium charged can be a sum of the rate per Rs. 1,000 of the sum assured and the service taxes. It also depends on the age of the policyholder at the time of entry into the scheme. The following table illustrates the range of the minimum premium for each policy term.

    Policy term

    15 years

    20 years

    30 years

    Minimum premium

    Rs. 121.08 to Rs. 138.64

    Rs. 88.4 to Rs. 101.88

    Rs. 58.37 to Rs. 63.54

    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.

    • Premium Waiver Rider: The Waiver of Premium rider is applicable to those policies where the policyholder and life insured are not the same and the policy term is either 20 years or 30 years. What this rider does is to waive off all future premiums in case the life insured passes away.

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

    Bharti AXA Life Monthly Income Plus 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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