Bharti AXA Savings and Investment Plans

Overview

A plan that enables savings as well as provides cover is a highly beneficial tool. Bharti AXA’s Life Secure Savings Plan is just that, and more, as it increases your maturity benefit with Guaranteed Additions (which are calculated as a percentage of every year’s cumulative Annualised Premium). You get discounts on premiums and can choose between policy terms of 15 or 20 years.

Eligibility Conditions of Bharti AXA Life Secure Savings Plan

Entry age

  • The minimum entry age is

    • 3 years for 15 years policy term.

    • 0 years old for 20 years policy term.

  • The maximum entry age is

    • 55 years for 15 years policy term.

    • 50 years for 20 years policy term.

Key Features of Bharti AXA Life Secure Savings Plan

Type

Traditional non-linked, non-participating,

Sum assured

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

The minimum Sum Assured depends on the premium option chosen.

Coverage

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

  • Sum Assured on Maturity plus Guaranteed Additions, or

  • 10 times the base annualized premium, or

  • 105% of the premiums paid up till date (excluding extra premium).

Maturity benefits: If the life insured duly pays all premiums on time and survives till the end of the policy term of 15 or 20 years, he/she is entitled to:

  • Guaranteed Additions of a percentage of the Sum Assured on Maturity, which I paid during the maturity payout period, and

  • 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

- 18,000 for 15 year Premium Payment Term

- 12,000 for 20 year Premium Payment Term

Premium payment term

  • 15 years for 15 year policy term.

  • 20 years for 20 year policy term.

(Same as policy term)

Premium paying modes

There are four premium paying modes to choose from:

  • Monthly

  • Quarterly

  • Half-yearly

  • Yearly

Policy term

15 years or 20 years, depending on the premium payment term you choose.

Reinstatement

All policy benefits can be reinstated within 2 years of the defaulted premium. 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.

Add-on covers / Riders

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

Tax Benefits

  • 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.

  • Subject to a maximum of Rs.1,00,000.

Surrender Value

Policy Year

10 years (%)

15 years (%)

1

10

10

2

20

20

3

30

30

4-6

50

50

7

55

50

8

60

50

9

65

55

10

70

55

11

75

60

12

80

65

13

85

70

14

90

70

15

90

75

16

-

80

17-18

-

85

19-20

-

90

Benefits and Advantages of Bharti AXA Life Secure Savings Plan

  • Tax Benefits applicable as per prevailing tax laws.

  • Comprehensive life insurance cover with a savings option.

  • Guaranteed additions.

  • Flexibility to choose between 15 and 20 year policy terms.

  • Guaranteed additions:

    Premium Band

    Premium (in Rs.)

    Policy term (in years)

    Additions (% of cumulative base annual premiums)

    1

    18,000- 24,999

    15

    8%

    12,000- 17,999

    20

    9%

    2

    25,000 and above

    15

    9%

    18,000 and above

    20

    10%

  • Premium discount:

On choosing a premium of Rs.1 lakh and above, you will get a 3% discount for 15 years policy term and a 5% discount for 20 years policy term.

How Does The Plan Work?

Mr. Babu, a 35 year old technician, opts for this Bharti Axa life insurance plan, investing Rs.20,000 as annualized premium every year. With a policy term of 20 years, his sum assured (decided after consideration of many factors) is Rs.2,30,468.

He will receive a Guaranteed Additional Percentage of 10% of each year’s cumulative base premium.

His family can rest assured that they will receive financial assistance in the unfortunate event of his death, and if he survives, Mr. Babu will be eligible for the payout of the maturity benefit, which is Rs.6,50,468.

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

This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

 4.5 / 5.0   by 2 users
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Plan Benefits

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Bharti AXA Life Insurance Savings Plans Reviews

Page 1 of 1
  • Bharti Axa Life
    "Good service "
    0.5 4.0/5 "Great!"
    On 5 months before taken a life insurance from BHARTI-AXA. The tenure period of 15 years plus 5 years of maturity. My friend has suggested this policy to apply and I received the hard copy on time. The premium amount of 21K need to pay on yearly. The coverage amount of 10L if an emergency or accidental happen other 10Lis applicable. The charge is high when compared to other.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Mar 19, 2020
  • Bharti Axa Life
    Bharti Axa Life
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I haven taken life insurance policy directly through Bharti Axa.This was a child plan and the policy tenure is for 15 years only .I am paying the premium on yearly basis through LIC agent. I will reap the benefits after 15 years which will be useful for my child .
    Was this review helpful? 4
    , faridabad
    Reviewed on Feb 14, 2020
  • Bharti Axa Life
    "Good "
    0.5 4.0/5 "Great!"
    I have taken a Life Insurance from BHARTI-AXA, i am happy with their service. Returns are good and i have completed 5 years and i am paying annual premium of Rs. 12,350 . Customer service and response was goods. I have selected the tenure period of 15 years.
    Was this review helpful? 2
    , bangalore
    Reviewed on Jan 27, 2020
  • Bharti Axa Life
    "Best insurance "
    0.5 5.0/5 "Blown Away!"
    I have taken a BHARTI-AXA LIFE INSURANCE more than 2 years. The policy is for 15 years term . I am paying premium on monthly package the amount which is nominal and i will do cheque payment. While getting a policy they given an information about the policy details. It covers myself.
    Was this review helpful? 2
    , hyderabad
    Reviewed on Dec 06, 2019
  • Bharti Axa Life
    "Easy to purchase"
    0.5 5.0/5 "Blown Away!"
    Chosen my term insurance from Bharti Axa. They are giving a sum assured amount of Rs. 1 Cr with the less of premium amount of Rs. 10000 per year and i have chosen the annual payment mode. It was a salary basis covered policy because they have asked for a salary slip.
    Was this review helpful? 3
    , new delhi
    Reviewed on Aug 01, 2019
  • Bharti Axa Life
    "Good cover policy"
    0.5 4.0/5 "Great!"
    The life insurance policy is directly linked with the PNB housing loan hence i have chosen them. The entire premium amount of Rs. 3.5 lakhs has taken by them. Its a covers for both life and home. The given coverage amount is equal to loan amount. They have given me a tenure period of 5 years.
    Was this review helpful? 5
    , coimbatore
    Reviewed on Jul 26, 2019
  • Bharti Axa Life
    "Good"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in BHARTI-AXA LIFE INSURANCE before 5 years back. The policy is for 8 years which I pay then next 7 years they will credit an amount to my account on monthly basis.I am paying premium in the monthly package. While getting a policy my agent has given an information about the policy details.
    Was this review helpful? 1
    , chennai
    Reviewed on Jun 24, 2019
  • Bharti Axa Life
    "Average service"
    0.5 3.0/5 "Satisfactory"
    I have been holding my life insurance with BHARTI-AXA LIFE INSURANCE Life Insurance , they have charged me premium amount on yearly basis, it is nominal for me and their agent had explain me about the policy clearly,as the agent is my friend,so far their service is good.
    Was this review helpful? 0
    , hyderabad
    Reviewed on May 26, 2019
  • Bharti Axa Life
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in BHARTI AXA LIFE INSURANCE. Now I am paying premium in the yearly package for the amount of 10 thousands. While getting a policy my agent has given an information about the policy details. I use to do payment through an online. The coverage up to myself.
    Was this review helpful? 1
    , new delhi
    Reviewed on May 21, 2019
  • Bharti Axa Life
    "BETTER"
    0.5 2.5/5 "Just OK"
    I have purchased the EULIP PLAN with the BHARTI-AXA LIFE INSURANCE where i am using it since from last 5yeras. I am paying the premium with this policy for yearly once and through the online. After the 5 years yet to drop the plan but the coverage is for self.
    Was this review helpful? 2
    , new delhi
    Reviewed on Apr 29, 2019
  • Bharti Axa Life
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I am holding the TERM PLAN policy with the BHARTI-AXA LIFE INSURANCE where i am using it since from last many years. The sum assured amount with this policy is of 25L for the nominee. The policy maturity period is for long term. The premium paying for monthly once.
    Was this review helpful? 2
    , mumbai
    Reviewed on Apr 23, 2019
  • Bharti Axa Life
    "Excellent Policy"
    0.5 5.0/5 "Blown Away!"
    I had taken this insurance policy almost six years back and the premium had been paying on an annual basis. The premium amount is not high and the payment method is also convenient. The policy coverage and the plan benefits with this insurance policy has also been good.
    Was this review helpful? 2
    , pune
    Reviewed on Apr 05, 2019
  • Bharti Axa Life
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have a life insurance with Bharti Axa and it was purchased long bank,I am paying the premium of through on line, and premium they use to charged me on yearly basis,and the agent had explain me about policy coverage and plan benefits,so far my experience was good.
    Was this review helpful? 4
    , faridabad
    Reviewed on Apr 02, 2019
  • Bharti Axa Life
    "Good policy"
    0.5 5.0/5 "Blown Away!"
    I have a life insurance with Bharti Axa and it was purchased 2 years back. I am paying the premium of 20K through online per annum and tenure is 22 years. The benefits are good and sum assured value is 2L. It was taken for taken benefits. I got the insurance paper through post.
    Was this review helpful? 1
    , bangalore
    Reviewed on Apr 01, 2019
  • Bharti Axa Life
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have been using the two wheeler insurance policy with the BHARTI AXA GENERAL INSURANCE and i had no claim experience with this policy but the premium and the IDV value is satisfactory with this insurance policy. I am not aware of the policy coverage.
    Was this review helpful? 0
    , ghaziabad
    Reviewed on Mar 25, 2019
  • Bharti Axa Life
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have applied for Bharti-Axa Life Insurance .The name of the policy is E- Protect policy .This policy is upto the age of 75 years. The premium mode is yearly .I am paying premium through credit card only .I have received policy documents on time .The agent clearly explained the process .I have applied this insurance directly with Bharti Axa .The Overall Service is good.
    Was this review helpful? 0
    , udaipur
    Reviewed on Mar 18, 2019
  • Bharti Axa Life
    "GOOD"
    0.5 4.0/5 "Great!"
    BHARTI-AXA LIFE INSURANCE is the life insurance that i have taken it because they are providing with the good returns with this policy. They gives the double the sum assured value with this policy, the maturity period is for 12 years.
    Was this review helpful? 0
    , mumbai
    Reviewed on Mar 09, 2019
  • Bharti Axa Life
    "Large sum insured low premium."
    0.5 3.0/5 "Satisfactory"
    I have taken this policy long ago , in 2013. Still holding it. Only problem is there customer service is not that good. You need to have patience for everything. Don't know how they behave with the actual persons who are going to claim. I remain in doubt at the time of writing.
    Was this review helpful? 1
    , gurgaon
    Reviewed on Mar 07, 2019
  • Bharti Axa Life
    "GOOD"
    0.5 3.0/5 "Satisfactory"
    I have purchased the life insurance policy policy of MONEY BACK with the BHARTI-AXA LIFE INSURANCE and i am using it from last 6 years. The maturity period for 20 years but premium has to be paid for 5 years with this policy. It gives the life coverage after the maturity.
    Was this review helpful? 0
    , madurai
    Reviewed on Feb 28, 2019
  • Bharti Axa Life
    "Fine Service"
    0.5 4.0/5 "Great!"
    I have taken Bharti -Axa Life Insurance policy. This policy is for one year .the premium amount is 42000, I am paying through the credit card ,I have received policy documents on time,The premium is good ,no issues faced till now ,no issues on submitting documents as well .I have taken the policy directly through branch and agent explained the process clearly .The Overall service is good .
    Was this review helpful? 1
    , new delhi
    Reviewed on Feb 25, 2019
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