About Bharti AXA Life Insurance

Bharti AXA Life Insurance is a renowned insurance provider that was established in the year 2006. It is a joint collaboration of two substantial groups – Bharti Enterprise and AXA Group. On one hand where Bharti Enterprise is one of the stellar business groups of India with its stakes in the telecom sector, financial services, retail, and agricultural business. On the other hand, the AXA Group is a substantial financial expert from Paris. This collaboration has 51% stakes of Bharti and 49% from AXA. Now within a small span of time, this company – Bharti AXA, has its footprints across India and serves a large customer base.

Why Should An Individual Buy Bharti AXA Life Insurance?

The life insurance plans of Bharti AXA comprehensive and offer coverage that meets the requirements of most of the customers. The plans of Bharti AXA Life Insurance are so well planned that they not only cover individual buyers but the corporate life insurance customers. The quick claim process and best customer support services of this insurance provider have developed a large customer base. Some of the benefits that an insured of Bharti AXA Life Insurance gets are:

  • Simple Purchasing Process: An individual can purchase the life insurance policies of Bharti AXA online. This saves lots of time of the customer as he/she needs not to visit the branch of Bharti AXA with a bunch of papers for purchasing a policy. Alternatively, a person from Bharti AXA, most probably its representative, visits the home of the policyholder and finishes all the required formalities.
  • Claim Settlement: Bharti AXA Life Insurance has an outstanding claim settlement ratio and a committed customer support team to provide assistance to its customers.
  • An Extensive Range of Policies: The Company offers an extensive range of life insurance policies that meet the requirement of both corporates and individuals.
  • Speedy Claim Settlement Process: The streamline claim settlement process of Bharti AXA has made it possible for its customers to settle their claims quickly.

Benefits of Bharti AXA Life Insurance

There are several benefits that one gets with Bharti AXA Life Insurance Plans, some of these plans are mentioned below:

  • It offers the benefits of both savings and insurance in one policy.
  • It provides guaranteed benefits with bonuses (non-guaranteed benefits) in most of the plans.
  • Bharti AXA gives flexibility in paying the premiums of its plans. An insured can choose the pay-out structure according to his/her needs.

Since most of the Bharti AXA life insurance saving plans are available online, it is convenient to purchase these plans online.

Types of Plans offered By Bharti AXA Life Insurance

  1. Protection Plan
  2. Saving Plan
  3. Investment Plan

Bharti AXA Life Insurance Protection Plans

Everyone is aware of the unpredictable ways of life, and no one wants to leave their family in a financially unstable situation for their family in case they are not around. To provide a fixed monthly income in such situations of economic crisis, life protection plans work like a boon. An overview of various ‘Life Protection Plans’ that Bharti AXA life insurance offers.

  • Protects your loved ones from a financial crisis
  • Offers long-term plans
  • Very affordable plans with an excellent life cover
  • Offers tax benefits
  • Provides financial benefits to the family

Take a look at the different Bharti AXA life insurance protection plans to select the most suited one for you:

  • Bharti AXA Life Insurance ‘Income Protection’: It is a plan that provides your family with an annual income for a period of 15 to 20 years in case of the unfortunate instance of death. Generally, 100-120% premiums that are paid are returned in lump sum amount as survival benefit.
Parameter Minimum Maximum
Entry Age 18 years ·         58 years for the policy with a term of 12 years

·         55 years for the policy with a term of 15 years

·         50 years for the policy with a term of 20 years

Age at maturity N/A 70 years
Sum assured Rs. 5,00,000 No limit, but subject to underwriting
Premium Payment Term and Policy Term 12, 15, and 20 years
Methods of premium payment Monthly, quarterly, semi-annual, or annual
Premium (Depends upon the term of the policy and benefits of maturity) Policy Term 12 years:

Option A for maturity benefit = Rs. 4,990

Option B for maturity benefit = Rs. 7,480

 

Policy Term 15 years:

Option A for maturity benefit = Rs. 3,565

Option B for maturity benefit = Rs. 5,530

 

Policy Term 20 years:

Option A for maturity benefit = Rs. 2,730

Option B for maturity benefit = Rs. 3,825

N/A
  • Bharti AXA Life Insurance ‘Secure Confident’: It is the most straightforward life insurance plan that is available at an affordable premium. The plan provides financial protection for the family that encounters financial crisis with the assurance of a lump sum payment in case of the death of the insured.
Parameter Minimum Maximum
Age 18 years 55 years
Age at maturity 60 years
Premium Monthly premium – Rs. 135

Quarterly premium – Rs. 405

Half yearly premium – Rs. 780

Annual premium – Rs. 1,500

N/A
Term to pay the premium Equal to the period of policy benefit
Period of policy benefit 5, 10, 15, 20, and 25 years
  • Bharti AXA Life Insurance Elite Secure: A life protection plan that is not only comprehensive, but also affordable. This long-term plan promises to give your family a financially secure life when you are not around.
Parameters Minimum Maximum
Entry age 18 years 75 years – for the term of 10, 15, 20, and 25 years.

65 years – for the term of 5 years.

Age at maturity 75 years – for 10,15,20, and 25-year terms and “To age 75” term

70 years – for a term of 5 years

Term assured Rs. 2,500,000
Term of premium payment Throughout the benefit period of the policy
Modes of premium Monthly, quarterly, semi-annual, and annual

Bharti AXA Life Insurance Savings Plans

It is always good to save because your savings will help you overcome any financial crisis. Therefore, these plan by Bharti AXA protect your loved ones at the time of financial need and the same time ensure that you get returns on your premiums as well. To support buyers to meet their long and short-term financial needs, Bharti AXA life insurance offers a range of savings plans. An overview of the various savings plans that Bharti AXA offers are:

  • Different savings plans to meet financial goals.
  • A range of bonuses on their plans
  • Tax benefits
  • The plans give a shield of protection to the family

Take a look at different life protection plans of Bharti AXA and select the most suited one:

  • Bharti AXA Life Insurance ‘POS Saral Bachat Yojna’: A smart and straightforward plan that helps people save well for their future requirements. It provides a financial backup to the family in case of the insured’s unfortunate death.
Parameter Minimum Maximum
Entry age of minors for policy term 10 years 8 years N/A
Entry age of minors for policy term 15 years 3 years N/A
Entry age for policy term 10 years 55 years N/A
Entry age for policy term 15 years 50 years N/A
Age at maturity N/A 65 years
Sum assured (The minimum sum assured is as per maximum age at entry)
Term of premium payment Term of policy Minimum assured sum
5 years 10 years 15,602
6 years 15 years 24,018
8 years 15 years 30,649
10 years 15 years 35,868
12 years 15 years 41,295
Term of premium payment Term of policy Maximum assured sum
5 years 10 years 6,75,753
6 years 15 years 10,00,000
8 years 15 years 10,00,000
10 years 15 years 10,00,000
12 years 15 years 10,00,000
Term of policy and Premium payment term
Policy Term Premium Payment Term
10 years 5 years
15 years 6,8,10, and 12 years
Premium The minimum premium that is paid per annum is Rs. 2,500 for all age groups and policy term/premium payment term combinations. All the applicable taxes will be accounted for separately with the collection of the premium.
Premium Payment Term Policy Term Maximum Premium
5 years 10 years 90,909
6 years 15 years 90,909
8 years 15 years 77,970
10 years 15 years 66,860
12 years 15 years 57,990

 

The maximum premium will be according to Maximum Sum Assured and maximum age at the entry related to the term of the policy. All the applicable taxes be taken separately along with the collection of the premium.

Premium Payment Methods Monthly, quarterly, semi-annual, annual.
  • Bharti AXA Life Insurance ‘Monthly Advantage’: It is a plan that gives you the flexibility to select your Premium Payment Term and Policy Term from three options. As per the name of this plan, it ensures that you get a steady monthly income without having to stay invested for a very long time.
Parameter Minimum Maximum
Entry age 6 years for policy term of 12 years

2 years for policy term of 16 years

91 days for policy term of 24 years

(The risk coverage starts on the policy’s commencement for all the lives including the minors)

In case, if the life insured is a minor at the time of the insurance, the ownership of the policy vests in the life protected once the insured turns 18 years.

·         65 years for 12 and 16 years policy term

·         60 years for 24 years policy term

Maturity age N/A ·         77 years for 12 years’ policy term

·         84 years for 24 years’ policy term

·         81 years for 16 years’ policy term

Income per month Rs. 928 for 12 years’ policy term

Rs. 642 for 16 years’ policy term

Rs, 370 for 24 years’ policy term

N/A
Sum assured Rs. 50,000 for all policy terms N/A
Premium Rs. 10,600 for 12 year policy term

Rs. 7,000 for 16 year policy term

Rs. 3,700 for 24 years policy term

N/A
Policy term 12, 16, and 24 years
Payment term for premium 6, 8 and 12 years for 12, 16, and 24 years policy term respectively.
Method of premium payment Monthly, quarterly, semi-annual, and annual
  • Bharti AXA Life Insurance Guaranteed Income Plan: A plan that provides increasing income year by year by keeping the rising expenditure in mind. The life insurance coverage is also taken care of any unfortunate event.
Parameters Minimum Maximum
Entry age 3 years for a policy term of 15 years

91 days for a policy term of 19/23/29 years

55 years for all Policy Terms
Age at maturity ·         70 years for 15 years’ policy

·         74 years for 19 years’ policy

·         78 years for 23 years’ policy

·         84 years for 29 years’ policy

Premium payment term and policy term 8 years for 15 years’ policy term

10 years for 19 years’ policy term

12 years for 23 years’ policy term

15 years for 29 years’ policy term

Sum Assured Rs. 25,000 No limit, it is subject to underwriting
Premium Rs. 7,167 for a policy term of 15 years

Rs. 5,370 for a policy term of 19 years

Rs. 4,259 for a policy term of 23 years

Rs. 3,375 for a policy term of 29 years

Methods of premium payment Monthly, quarterly, semi-annual, annual.

Bharti AXA Life Insurance Investment Plans

Planning is essential when making any investment decisions. With Bharti AXA, you don’t need to worry about your investments, all you need to do is select a suitable investment plan. All the investment plans of Bharti AXA life insurance offer its customers the chance to live their dreams and aspirations. Here is a highlight of the various investment plans:

  • Maximum returns
  • More savings
  • Benefits for family security
  • Tax benefits
  • Fund experts manage all the investment plans

Bharti AXA Life Insurance Grow Wealth: This is a savings-oriented investment plan that offer users multiple investment options so that the insured can select the most suitable investment plan. The variants of the investment plan enable users to protect their family against unfortunate events. It also offers numerous other benefits as loyalty additions.

Parameters Minimum Maximum
Age at entry 13 years for 5 years term

8 years for 10 years term

3 years for 15 years term

0 years (91 days) for 20 years term

64 years for 5 years term

60 years for 10 years term

55 years for 15 years term

50 years for 20 years term

 

Maturity Age 70 years
Premium
Premium Payment Option/Channel Single Pay Regular/Limited Pay
Online Rs.1,00,000 Rs.26,000
Other than online Rs.1,50,000 Rs.35,000
No Limit, it is subject to Board Approved Underwriting Policy
Premium Modes Monthly, Quarterly, Semi-Annual, Annual
Sum Assured
Premium Payment Option/Channel Single Pay Regular/Limited Pay
Online Rs.1,25,000 Rs.2,60,000
Other than online Rs.1,85,000 Rs.3,50,000
No Limit, it is subject to Board Approved Underwriting Policy
Premium Payment Term & Policy Term The below-mentioned policy terms and their corresponding premium payment terms (PPTs) are available within the product:

Policy Term Options Premium Payment Term
Single Pay 5 Years 7 Years 10 Years 15 Years 20 Years
5 Years Yes Yes No No No No
10 Years Yes Yes Yes Yes No No
15 Years Yes Yes Yes Yes Yes No
20 Years Yes Yes Yes Yes No Yes

 

  • Bharti AXA Life Insurance Future Invest Plan: This investment plan lets users invest money for a specific time-frame and at the end of the term of the policy, the insured get significant returns. You can reap the benefits for 10 years either by making a single payment or paying a regular premium for 5 years.
Parameters Minimum Maximum
Age at entry 18 years 59 years
Age at maturity 69 years
Modes of premium Monthly, quarterly, semi-yearly, and yearly
Premium Term of premium payment: 5 years

Annual: Rs. 18,000

Semi-annual: Rs. 9,000

Quarterly: Rs. 4,500

Monthly: Rs. 1,500

 

Single Pay: Rs. 50,000

Policy benefit period 10 years
Term of premium payment 5 years and Single pay
  • Bharti AXA Life Insurance eFuture Invest: It is a unit-linked online investment policy that not only offers you good returns but also provides a life-cover. To make the most of this tax saving plan, all you need to do is to select the term of premium payment either as one time or 5 years, while reaping the benefits for 10 years.
Payments Minimum Maximum
Entry age 18 years 60 years
Age at maturity 70 years
Mode of premium Monthly, quarterly, semi-yearly, yearly
Premium Term of premium payment: 5 years

Monthly: Rs. 1,500

Quarterly: Rs. 4,500

Semi-Annual: Rs. 9,000

Annual: Rs. 18,000

 

Term of premium payment:

Single pay: Rs. 25,000

Rs. 1,00,00,000 for 5 pay

Rs. 8,00,00,000 for Single pay

Period of policy benefit 10 years
Term of premium payment 5 years and single pay

Bharti AXA Life Insurance Claim Process

The claim process of Bharti AXA life insurance is very easy and convenient for all the policyholders. Generally, the claims of Bharti AXA get settled within 48 hours after intimating about the claim.

Bharti AXA has both online and offline claim process and an insured can select an option according to his/her convenience.

Offline Claim Filing Process:

If an insured wants, he/she can submit claim offline. Below mentioned are the steps for the same:

  • Intimate About the Claim: An insured is requested to intimate about the claim via any of the below listed ways:
    • Walking down to any of the branch of Bharti AXA.
    • Emailing the department of the claim of Bharti AXA.
    • Calling on the toll-free numbers of Bharti AXA.
    • Requesting a back call from the company.

Note: Filing a claim by calling on the toll-free number of Bharti AXA life insurance or requesting a call-back are considered as verbal intimation. The claims will only be registered after intimating Bharti AXA in writing.

  • Submit Documents for Claim Validation: After registering the claim, an insured is required to submit all the required documents for claim validation. One can submit the documents in person. However, it as well depends upon the type of claim that an individual files.
    • To receive a death claim, the following documents are required:
      • Original policy bond.
      • Copy of the death certificate attested and issued by the local authority.
      • Statement form of the insured.
      • Resident and photo identity proof of the nominee.
      • Nominee’s personal canceled cheque and passbook of the bank account of the nominee.
      • The post-mortem report and FIR’s copy (in case of accidental death or death due to murder/suicide).
    • The following additional documents are needed in case of non-accidental death:
      • A copy of the medico-legal cause of death certificate
      • Certificate of treating the doctor
      • Medical record’s copy
      • Certificate of family physician
      • Certificate of the employer
    • The following documents must be submitted in case of group death claim:
      • Attested death certificate’s copy
      • Death claim form duly filled and signed by the nominee and master policyholder.
      • FIR and post-mortem report’s copy (in case of death is caused due to accident/ murder/ suicide).
      • A canceled cheque from the nominee.
    • In the case of non-accidental deaths, the following documents are required:
      • Medical records’ copy.
      • Medico-legal death certificate’s copy.
      • Certificate from treating doctor.
    • The following documents are required, in case of hospitalization claims:
      • Policy certificate’s copy.
      • Statement form of the insured.
      • Copy of hospital bills, test reports, and discharge summary.
      • Certificate from the treating doctor.

Online Claim Filing Process:

The online claim process of Bharti AXA life insurance has four steps:

  • Register the claim: The insured is requested to register the claim on the website of Bharti AXA Life. He/she needs to provide the below-mentioned information while registering the claim:
    • Policy number
    • Claim types such as living benefits or death claim
    • Insured’s name
    • Date of birth

The claim gets registered soon after providing the above information. The claimant gets acknowledgment for the same.

  • Upload supporting documents: The claimant has to upload all the supporting documents.
  • Track the claim: The claimant receives an acknowledgment upon uploading the documents. After this, he/she can online track the status of the claim processing. In order to track the details, the claimant has to enter the below details:
    • Date of birth
    • Number of the policy

Some insurance policies can ask to enter the claim number. After filling these required details, the claim status is displayed on the screen. The claimant gets an SMS/email related to the status of the claim as soon as the claim is processed. The payout is credited in the account of the claimant once the claim is approved.

Moreover, the claimant is notified in case of the rejection of the claim.

  • Feedback: If the claimant wants, he/she can provide the feedback of the entire claim process.

Documents Required to Purchase Bharti AXA Life Insurance Plan

Organizations and individuals looking to purchase a life plan of Bharti AXA can do that either online or offline. However, in both the means of applying for a policy, the following documents are needed:

  • Identity proof
  • Age proof
  • Income proof
  • Residence proof
  • PAN number

How to Check the Status of Bharti AXA Life Insurance Policy?

The policyholders of Bharti AXA can check the status of the status of their policy online through the website of Bharti AXA. For this, the insured needs to provide his/her policy number and date of birth and the information will be displayed on the screen.

Online Premium Payment Option of Bharti AXA Life Insurance

The policyholders of Bharti AXA life insurance can pay the premiums through various mediums; however, online payment is most convenient. Those who choose to pay the premiums online can use a debit card, credit card, or net banking. Below mentioned are the steps to pay premiums online:

  • Go to the website of Bharti AXA Life Insurance and select ‘Pay Premiums’ option on the home page.
  • Enter the details of the policy as asked.
  • Select premium method (debit card, credit card, or net banking).
  • Enter the details of authentication to authorize the transaction.
  • As soon as the transaction is completed, the acknowledgment is sent to the policyholder.

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