Bharti Axa Life Term Insurance
Bharti offers two simple term plans at affordable premiums, namely Bharti AXA Life eProtect+ and Bharti AXA Life eProtect. The plans can be bought online sans cumbersome paperwork.
Customers can also avail of some tax benefits on the payout benefits and premiums. Customers can avail of the term plans for any loans in case of your death.
Types of Bharti Axa Term Insurance Plans:
There are two types of as listed below:
- Bharti AXA Life eProtect
- Bharti AXA Life eProtect+
Bharti AXA Life eProtect
Aviva Life Shield Plus is a term policy that offers comprehensive cover at an affordable cost. Listed below are some of the important features of the product.
Feature | Description |
Entry Age | Minimum: 18 years Maximum: 65 years |
Policy Term | Minimum: 10 years Maximum: 75 years |
Sum Assured | Minimum: Rs.25 lakh Maximum: No limit |
Premium | Affordable |
Premium Payment Mode | Yearly, half-yearly |
Premium | Equal to policy term |
Death Benefit | Nominee receives Rs.1 lakh as lump sum upon insured’s death while the remaining will be provided after due formalities, provided the policy is active and two consecutive premiums have been paid |
Bharti AXA Life eProtect+
It is term plan that offers return of premium on maturity.
Feature | Description |
Entry Age | Minimum: 18 years Maximum: 60 years |
Policy Term | Minimum: 10 years Maximum: 75 years |
Sum Assured | Minimum: 50 lakhs Maximum: No limit |
Premium | Affordable |
Premium Payment Mode | Yearly, half-yearly |
Premium | Equal to policy term |
Death Benefit | Available in two modes. First, death benefit is paid as monthly incomes for 15 years after demise of the insured. As per the second option, nominee gets 50% of Sum Assured as lump sum upon death of the life while the remaining is paid in 10 years in increasing annual instalments on an annual basis |
Features & Benefits of Bharti Axa Life Term Plans:
- A cover of Rs.1 crore is provided for Rs.6100.
- In case of death of the life insured Rs.1 lakh is paid as a lump sum to the nominee as part of the family care benefit
- Special rates for non-smokers with a sum assured of above Rs.50 lakh.
- Customers can in the comfort of their homes
- Customers can avail of tax benefits under relevant section of the IT Act, 1961
- Under e-protect+ plan, customers can choose any one of the two death benefits - monthly income for 15 years and 50% lump sum of Sum Assured at the time of claim while the rest in increasing instalments on an annual basis for 10 years
Example of Bharti Axa Term Insurance Plans:
Subhash Varma, a 30-year-old non-smoker employee opts for the e-protect life plan for a policy term of 30 years. Varma opts for a sum assured of Rs.2 crores for which he pays an annual premium of Rs.14,600*. In the event of his unfortunate death within the policy term, his nominee will receive Rs.2 crores. Premium payment will be terminated after his death.
*exclusive of edu cess and service tax
Other Products Bharti AXA
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GST of 18% is applicable on life insurance effective from the 1st of July, 2017
FAQs on Bharti Axa Life Term Insurance
- What are the riders available under Bharti Axa e-protect plan?
Bharti AXA Life Accidental Death Benefit Rider (non-linked regular pay rider) and Bharti AXA Life Hospi Cash Rider.
- Are non-smokers given preferential premium rates under life e-protect?
Yes. Non-smokers given preferential premium rates under life e-protect
- What are the premium payment mode for Bharti Axa term plans?
Bharti Axa term plans are offered on a yearly and half-yearly basis
- What is the minimum sum assured for Bharti Axa e-protect+ plan?
The minimum sum assured under Bharti Axa e-protect+ plan is Rs.50 lakh
- What is the minimum sum assured for Bharti Axa e-protect plan?
The minimum sum assured under Bharti Axa e-protect plan is Rs.25 lakh
- What is the maximum limit for sum assured for Bharti Axa term plans?
There is no upper limit for sum assured for Bharti Axa term plans.
- What is the minimum and maximum entry age for Bharti Axa e-protect plan?
The minimum age is 18 years while the maximum is 65 years
- What is the premium payment mode for Bharti Axa term plans?
Bharti Axa term plans are offered on a yearly and half-yearly basis.
- What is the death benefit available under Bharti Axa e-protect+ plan?
Bharti Axa e-protect+ plan is available in two options. First, death benefit is paid as monthly incomes for 15 years after demise of the insured. As per the second option, nominee gets 50% of Sum Assured as lump sum upon death of the life while the remaining is paid in 10 years in increasing annual instalments on an annual basis.
- What is the death benefit available under Bharti Axa e-protect plan?
In case of death of the life insured Rs.1 lakh is paid as a lump sum to the nominee as part of the family care benefit
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