Bharti AXA Life Child Plans

Bharti AXA Life Insurance is a joint venture between Bharti Enterprises which is the Indian counterpart and AXA Group, the foreign counterpart. The insurance company was launched in December 2006 and since then the company has come a long way in meeting the life insurance needs of the population. Its child plans are designed with exclusive features and benefits. 

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Best Child Saving Plans
  • Insurer pays your premiums in your absence

  • Invest ₹10k/month and your child gets ₹1 Cr tax free*

  • Save upto ₹46,800 in tax under Section 80(C)

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

*Please note that the quotes shown will be from our partners
Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr Tax Free*

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Bharti AXA Life Insurance Company offers its customers a wide range of insurance plans in different categories to meet their requirements. Whether the requirement is for protection or for savings or for retirement, the company has a solution for every need. The child plans offered by the company are designed for the welfare of a child even in the absence of a parent.

Key Aspects of Bharti AXA Life Child Plans

The plans designed for the child generally do not cover the child’s life. The life covered is of the parent with a minor child. Underwriting is done on the parent’s life while the child’s details are given in the policy

Some common aspects of these plans include:

  • There is a ‘deferment period’ in some child plans. Deferment is applied if the child’s life is insured. Under the clause, risk coverage will commence after the completion of some years. If the child dies during this period, the aggregate premiums paid till death is returned since life cover is not available during that period.

  • If the child is insured, he will become the policyholder when he attains 18 years. The process of reverting the ownership to the child is called Vesting.

  • If the parent is insured and he dies, there will be no need to pay future premiums. It will be covered by the insurance company as per the provisions of the inbuilt waiver of premium benefit.

Bharti AXA Life Child Plans

Bharti AXA Life Insurance Company offers child plans that are packed with different benefits to provide complete future protection to the child. Let us understand these plans in detail:

  1. Bharti AXA Life Child Advantage Plan

    It’s a traditional child plan which promises guaranteed returns and participates in the profits of the company by way of earning bonuses. The important aspects of this plan are mentioned hereunder:

    • There are two types of Maturity Benefit options to choose from –

      • Endowment Option - 125% of Sum Assured and accrued simple reversionary bonuses with any Terminal Bonus is paid on maturity.

      • Money Back Option, Guaranteed Payouts are paid every year in the last 5 policy years. 10% of Sum Assured in the last 5th and 4th years, 15% of Sum Assured in the last 3rd and 2nd years and 20% of the Sum Assured in the last year before maturity. On maturity, 40% of Sum Assured and accrued simple reversionary bonuses and any Terminal Bonus are paid.

    • In the event of death of the parent, the death benefit payable will be higher of Sum Assured payable on maturity or 11 times the premium or the basic Sum Assured or 105% of total premiums paid.

    • There is an inbuilt Premium Waiver Rider under which all future premiums are waived off on the death of the parent but the plan continues unaffected. The promised benefits also accrue as and when they fall due.

    • Bharti AXA Hospi Cash Rider and Bharti AXA Accidental Benefit Rider can be added to the plan for a more comprehensive coverage.

    Eligibility Details

    Minimum Maximum
    Entry Age 18 years Regular pay - 50 years
    Limited pay – 55 years
    Maturity Age - Regular pay – 71 years
    Limited pay – 76 years
    Policy Term 11 years 21 years
    Sum Assured Rs.25, 000 No limit
    Annual Premium Amount Depends on the cover, age, term and PPT
    Premium Payment Term Equal to plan term or (Term – 5 years)
    Premium Payment Frequency Yearly, half-yearly, quarterly or monthly
  2. Bharti AXA Life Shining Stars

    This Bharti AXA child insurance plan offers parents an opportunity to save for their child’s future while also protecting them in case of uncertainties such as the death of a parent. Here are some important aspects about the Bharti AXA Life Shining Stars plan –

    • It offers flexibility in the policy term and premium paying term with a total of 9 different options.

    • It acts as a triple benefit child plan offering the following 3 benefits to the child on the death of the parent –

      • Death benefit amount

      • Waiver of premiums

      • Maturity benefit at the end of the policy term

    • You get to choose from 2 maturity payout options –

      • Flexi Payout – You can choose to receive the maturity benefit at any year of your choice during the maturity period.

      • Annual Payout – You can choose to receive the whole amount as a lump sum. You can select one according to whichever milestone your child is at.

    • You can also pay a single premium amount at the time of buying to avoid paying premiums regularly.

    Eligibility Details

    Parameters Details
    Policy Tenure 12-20 years
    Premium Paying Term 7-15 years
    Premium Paying Mode Monthly, quarterly, semi-annually, & annually
    Entry Age 18-60 years
    Maturity Age 72-80 years
    Sum Assured Min- Rs. 50,000
    Max- No limit; subject to underwriting norms
  3. Bharti AXA Life Elite Advantage

    This is a long-term savings plan for your kids that offers benefits at regular intervals to help you meet your child’s key education milestones. Here are the key features related to this child education plan by Bharti AXA Life –

    • You can choose to pay premiums for 5, 7, or 12 years, based on which the policy term is selected.

    • On the death of the parent, the child is entitled to the highest of 11 times the annual premium, sum assured on maturity, or 105% of the premiums paid until death.

    • If the life assured survives the whole term, 100% of the sum assured is paid out in the 20th year.

    • Guaranteed payouts are offered as a percent of the sum assured on specific policy years.

    Eligibility Details

    Minimum Maximum
    Entry Age (Last Birthday) 6 years 65 years
    Maturity Age (Last Birthday) - 77 years
    Policy Term (PT) in years 10 or 12
    Premium Paying Term (PPT) in years 5 for 10 year term
    7 / 12 for 12 year term
    Premium Paying Frequency Annual, half-yearly, quarterly
    Yearly Premium 12,000 No limit
    Sum Assured Depends on the premium chosen

Applying for a Child Plan from the company:

  1. Online

    The company offers specific plans which are available online only. The customer needs to log into the company’s website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through credit card, debit card or net banking facilities and the policy will be issued.

  2. Intermediaries

    Plans which are not available online can be purchased from agents, brokers, banks, etc. where the intermediaries help with the application process.

Applying For Child Plans through PolicyBazaar

  • On the PolicyBazaar homepage, click on Child Plans under the Personal tab.

  • Click New Quotes to compare and choose from top insurance providers.

  • Fill your date of birth (DOB), whether you are a smoker/non-smoker, and the payout amount. On the basis of your payout amount, you will get an estimate of your premium. Next click Continue.

  • Fill in your name, email address, city, country code, and mobile number. Click Continue.

  • You will be taken to the Life Insurance quotes page where you will see life insurance quotes from more than 10 insurers. Next, choose the plan as per payment schedule–One Time Payout and Monthly Payout Plans.

  • After reviewing and comparing each life insurance quote, click the premium amount to buy the desired plan.

  • You will see a pop-up on the screen which will give you an overview of the chosen plan like premium, plan features, exclusions, additional riders, etc. Click Proceed.

  • This will take you to the insurer’s website. Fill in the necessary details to buy the plan.

Why buying a child plan is important?

Planning for your child’s future if you have a child is a very important aspect of your future planning. A child plan takes care of this planning and is the complete solution for planning your child’s future. Essentially, this type of insurance plan should be taken for a longer tenure. Here are some reasons why.

  • Your child would require more financial help in the later stages of his life when he seeks admission into a good college or when he wants to pursue a specialized post-graduate education.

  • Even planning for your child’s marriage would require substantial funds.

  • When taken for a longer tenure, the plan involves paying a small premium every year which goes towards building a substantial corpus.

  • On maturity, the resultant fund is sufficient enough to provide for huge expenses which would require a lump sum amount.

Even if the parent dies, the fund creation does not go to waste because of the inbuilt rider clause. The company keeps on crediting the required premium in the policy and the fund at the end of the tenure comes out to be the same as was originally planned. This is perhaps the best feature of Bharti AXA child plans because in case of other investments, the savings stop when the investor dies. By promising continuity, the child plan helps in maintaining the corpus which the parent had initially planned for.

Child Plan 1
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Child Plan 2
Average Rating
(Based on 26 Reviews)
Child Plan 3

Nothing is more important than securing your child's future

  • Life Cover paid to family to meet immediate expense
  • Future premiums are paid by the Insurance Company

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Bharti AXA Life Child Plans Reviews & Ratings

4.4 / 5 (Based on 26 Reviews)
(Showing Newest 10 reviews)
Shaam
Deoli, October 18, 2016
Child Insurance Plan
After seeing the bharti axa child insurance policy plan, i don't wait for a second and i purchased insurance plan in less investment. Service is fantastic with full assistance by the executives and members of the company. Policy coverage and claims are high.
Karan
Lungdai, August 25, 2016
Future Savings
My friend shown me his insurance plan, after seeing the terms and conditions. I purchased bharti axa child insurance policy plan which has maximum benefits. Policy coverage is good, claims are high. Service given by the company is fantastic and on time.
Rahul
Faridabad, August 17, 2016
Fantastic Insurance Plan
After a long while, i got the child insurance policy for my child from bharti axa life insurance. The policy coverage is high ~90% and the claims are even better. The procedure of claiming is easy due fast service provided by the company members.
Bhaanu
Buxar, July 15, 2016
Super Policy
Bharti axa life insurance is very good insurers in the market. I bought child insurance plan from them. Service is good and documentation become easy to us. Policy coverage is high ~89% and the claims are easily sanctioned.
Hitesh
Karnal, July 05, 2016
Child Plan
My mom purchase a child insurance plan for my little sister. The terms and conditions are good and service of the company is fantastic. I have to say that this insurance policy is very beneficial in the future. Good claims and high policy coverage.
Ashok
Kolkata, June 27, 2016
Good
I have purchase child insurance plan for my child. The policy coverage is high and premium is low. The service facilitate by the company is fast and due to this claiming become easy. Good future investment which reduces taxes too. Internet service is also nice, hassle free documentations and policy renewal done on it.
Kunal
Agra, March 29, 2016
Perfect Plan
The child policy plan i have from bharti axa life insurance is the great policy which provide the great benefits with low premiums. The service is fast and even the web services are good. The policy coverage is high and the claims are easily sanctioned due to executives facilitate and provides the service every time.
Jiten
Jabalpur, March 29, 2016
Wonderful
Policy coverage is high ~94% and the policy claims are even better. Premiums are low approx. 25 k quarterly per year. Nice child policy plan which i buy from bharti axa life insurance, is good investment for future and it save taxes also. Service is very good which facilitate by the executives and staff members. Good job guys.
Rohit
Mohali, March 29, 2016
Better Plan
My child's future is secure because i buy child policy plan from bharti axa life insurance for my baby. The policy coverage is high and premium is low. The claims sanctioned easily due to fast service. The behaviour of the executives and staff members are very nice. Nice policy, keep it up.
Devesh
Thiruvananthapuram, March 29, 2016
Poor Policy
The child policy plan i have with bharti axa life insurance is not good. Poor policy coverage and claims. Service is not fast and waiting is usual. Premiums are high. I have to say this poor child policy plan.
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