Bharti AXA Life Term Insurance Plans

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Bharti AXA Term Plans 

Bharti AXA Life Insurance is a joint venture between Bharti Enterprises which is the Indian counterpart and AXA Group, the foreign counterpart. Bharti Enterprises is one of the leading companies engaged in telecom, agricultural businesses, financial services and retail. The insurance company was launched in December 2006 and since then the company has come a long way and has a dedicated work force providing efficient solutions and advice and also meets the life insurance needs of the population through products designed with exclusive features and benefits.

What are Term Insurance Plans?

Term Insurance Plans, also called Term Plans in short, offer the basic protection coverage to individuals. Term plans are the essence of life insurance which provides financial support to the family of the individual in case of premature death of the individual. In technical terms, term plans can be defined as a contract between the insurance company and the person insured wherein the company promises to pay a lump sum amount, called the Sum Assured, if the insured dies during the term of the policy. The term of the policy is the time, in years, for which the plan has been bought by the insured. In exchange of the promise made by the insurer, the insured needs to pay premiums to the company against the chosen coverage for the term of the policy.

Why Term Insurance Plans?

Life is uncertain and everybody faces the risk of untimely death. On the death of a family member, the family suffers both emotional and financial loss. While emotional loss cannot be compensated, the financial loss suffered can be compensated considerably through insurance.Term Insurance, being the basic insurance plan, is the cheapest plan in the market where by paying a minimal amount of premium one can avail a high coverage for protection purposes. Term insurance, at the same time, offers high coverage at lower costs thus making it affordable to have a high coverage. A high coverage ensures that the family is properly taken care of in the absence of the bread-winner without any financial hiccups.

Bharti AXA Term Plans

Bharti Axa offers a variety of Term life insurance plans to individuals and each plan differs with respect to the features and availability. While some plans can be bought online at a lower premium, other plans are not available online and can be availed through other marketing channels like agents, brokers, bancassurance channel, etc. Let us take a look at the different plan offered by Bharti AXA and the features of each of the plans.


Bharti AXA Term Plan eProtect
An online best term insurance plan with the following features:

  • It is an online Term Plan from Bharti AXA which can be bought online lowering the premium and avoiding the hassles of unnecessary paperwork. Thus the plan can be bought instantly at a premium which is lower than plans sold through other intermediaries.
  • The premium rates are low making the plan affordable for customers
  • In case of death of the life insured within the duration of the plan, the Sum Assured chosen at the inception of the plan is paid to the nominee.
  • This Bharti AXA Term plan provides a unique feature of Family Care Benefit which states that if the policy is in force and at least 2 consecutive premiums have been paid post inception or reinstatement, the benefit will be applicable. The benefit provides a payment of Rs.1 lakhs of the Sum Assured in lump sum to the nominee within 48 hours of death of the insured if the company has been duly notified. The rest of the coverage amount will be settled after completing all the formalities
  • This benefit ensures availability of necessary cash so that any emergency financial requirement can be taken care of by the family of the deceased
  • Non-smokers are given preferential rates of premium if they buy a plan with a Sum Assured of Rs.50 lakhs and above
  • Tax benefit is available on the premium paid and the claim received. The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

Eligibility Details:

 

Minimum

Maximum

Entry Age

18 years

65 years

Maturity Age

-

70 years

Policy Term

10 years

75 – entry age

Sum Assured

Rs.25 lakhs

No limit

Premium Payment Term

Equal to the policy term

Premium Payment Frequency

Yearly or half-yearly

 

Sample Premium Rates

Premium for a Sum Assured of Rs.1 crore

Age

Term

10 years

15 years

20 years

25 years

25 years

30 years

25 years

6100

6100

6100

6200

6400

6400

30 years

6800

6800

7000

7200

7300

7300

35 years

8700

9000

9300

9500

9700

-

40 years

12, 200

12, 900

13, 500

13, 600

14, 700

-

45 years

18, 400

19, 800

19, 900

21, 000

26, 900

-

50 years

29, 300

29, 600

13, 600

37, 800

-

-

 

Bharti AXA Term Plan - eProtect+

A term plan with flexible payout options. The features of the plan are as follows:

  • It is an online Bharti AXA Term Plan which can be bought online lowering the premium and avoiding the hassles of unnecessary paperwork. Thus the plan can be bought instantly at a premium which is lower than plans sold through other intermediaries.
  • The premium rates are low making the plan affordable for customers
  • The death benefit is available under two options. Under the first option, the benefit is paid as monthly incomes for a period of 15 years from the month following the death of the insured. Under the second option, 50% of the Sum Assured is paid immediately on death of the life insured in lump sum. The rest 50% of the Sum Assured is paid in increasing annual installments over a period of 10 years
  • So, the customer can choose either the monthly payout option under Option 1 or the annual payout option under Option 2 whichever is more suitable for meeting his family requirements
  • Tax benefit is available on the premium paid and the claim received. The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

Eligibility Details:

 

Minimum

Maximum

Entry Age

18 years

65 years

Maturity Age

-

70 years

Policy Term

10 years

75 – entry age

Sum Assured

Rs.50 lakhs

No limit

Premium Payment Term

Equal to the policy term

Premium Payment Frequency

Yearly or half-yearly


Sample Premium Rates 

Option 1
 – death benefit is paid in monthly instalments for a period of 15 years

Age

Term

10 years

20 years

30 years

25 years

4900

4900

5100

30 years

5400

5600

5800

35 years

7000

7400

7800

40 years

9800

10, 800

11, 800

45 years

14, 700

15, 900

21, 500


Option 2 –
50% of the Sum Assured is paid immediately and the rest 50% is paid in increasing annual instalments over a period of 10 years

Age

Term

10 years

20 years

30 years

25 years

5200

5200

5400

30 years

5800

6000

6200

35 years

7400

7900

8200

40 years

10, 400

11, 500

12, 500

45 years

15, 600

16, 900

22, 900


Bharti AXA Term Plan Elite Secure-
A  term insurance plan which covers the individuals to the ripe old age of 75 years. The features of the plan are as follows:

  • The premium rates are low making the plan affordable for customers
  • In case of death of the life insured Sum Assured is paid to the nominee
  • Bharti AXA Hospi Cash Rider can be added to the plan for availing a comprehensive coverage by paying a fraction of the premium extra.
  • The rider promises a fixed daily amount to be paid in case the insured is hospitalized. Moreover, if there is any surgery undertaken on the insured, an additional lump sum amount is also paid by the company.
  • Tax benefit is available on the premium paid and the claim received. The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

Eligibility Details:

 

Minimum

Maximum

Entry Age

18 years

75 years or 70 years for a 5 year term

Maturity Age

-

75 years

Policy Term

10 years

75 – entry age

Sum Assured

Rs.25 lakhs

No limit


Sample Premium Rates 

Sum Assured

Entry Age

Policy Term

5 year

10 years

15 years

20 years

25 years

75 – entry age

25 lakhs

30 years

3925

3925

4150

4400

5100

9825

40 years

5750

6400

7350

8775

10, 475

15, 200

50 lakhs

30 years

7100

7100

7500

7950

9200

17, 850

40 years

10, 400

11, 800

13, 700

16, 350

19, 550

28, 200

1 crore

30 years

12, 200

12, 200

13, 100

14, 200

17, 200

33, 800

40 years

18, 700

21, 200

25, 800

31, 000

37, 300

54, 200



Bharti AXA Term Insurance Plan FAQs

What are the payment modes of Bharti Axa life term insurance?

Ans - Bharti Axa Life term insurance offers 5 different payment modes to its customers:

Online banking:

Under this option, you don’t need to do any registration. You can use either of your Netbanking account or credit/ debit card to make an online payment towards Bharti Axa Life term insurance.

InstaPay:

By using InstaPay, you can make instant payments through your NetBanking accounts. Simply log on to your bank’s official website with your premium details and you can proceed with the payment.

  • eBill Payment:
    Electronic Bill Presentment & Payment
  • Through this method, you can pay your premiums online (electronically) using the NetBanking service.
  • Register on your net banking account to make online premium payments and you will be able to use this service from the next payment cycle.
  • The bill for your premium amount will be available 10 calendar days before the due date of premium renewal. You can choose to pay the premium using any of the following methods:
  • By selecting the option of "View and Pay", you can view the details of your premium bill and authorize the payment.
  • By selecting the option of "Auto Pay", you can schedule automatic premium bill payment on the due date of premium renewal.
  • Any of the policyholders who have opted for cash/cheque payment for their premium renewal can opt for this facility.

Electronic Bill Payment for Nationalised and Co-operative banks

The policyholders can visit their respective banks to know more about this method where they can use the bank’s BillPay service to pay the premium renewal amount.

  *Visa Bill Pay

  • Through this method, you can make easy premium payments using your Visa debit/credit card. You simply have to register on www.visabillpay.in for making premium payments towards Bharti AXA Life Term Insurance. Once your card details are verified, you will receive the bill for your premium amount electronically at Visa Bill Pay.
  • You will be able to access your premium amount bill 10 days before the payment due date to view and make the payment.

Note: The visa card should be in the name of the policyholder only.

   *Bill Desk

Same as eBill payment

How can I check policy status for Bharti Axa life term insurance Plans?

Ans- You can visit the given link to check the policy status for Bharti Axa life term insurance Plans:

Once you’re on the page, enter few details like your Policy Number, your date of birth, mobile number and email id. Following that, you will get the desired detail of your policy you were looking for.

  1. What is the policy renewal process for Bharti Axa life term Plans?
  2. What is the settlement process for Bharti Axa life term insurance Plans?

Bharti Axa life term insurance plans follow a 3-step easy insurance claims process which is designed with a clear objective to settle valid claims causing the minimum amount of trouble to the customers:

  1. Claim Intimation & Registration
  2. Payment of Fund Value
  • Claim Settlement or Benefit Payout

What is the policy cancellation process for Bharti Axa life term insurance Plans?

Ans- Every Bharti Axa life term insurance Plan has a cooling off period assigned to it that allows the policyholders to assess their insurance policy and to ensure that they have got the right term plan suiting their needs. In case, a policyholder cancels his policy within the cooling off period, he will get a refund of the total premium paid by him until the return date excluding certain fees like administration & processing fee.

Step by step process to cancel your term insurance plan:

  1. The life assured has to contact his insurer and inform them about his wish to cancel his policy. Usually, the agents from the insurer provide alternate options to the policyholder.
  2. In case the insured still wishes to cancel his term plan, he can visit the insurer’s branch and submit his policy cancellation form. Alternatively, he can also visit the company’s official website to submit his policy cancellation request.
  • Once the insurer has received the cancellation form, it will start the policy cancellation process.
  1. Please note that no refunds will be provided by the insurer if the plan is cancelled after the cooling off period.

What if I cannot make the payment of premiums on time?

Ans- The company will provide you with a grace period of 15 days to pay the pending premiums. However, if you are still not able to pay the premiums even after the grace period, your policy will get lapse.

Can a person have multiple Bharti Axa life term Plans?

Ans- Yes, an individual can have more than one term insurance plans with Bharti Axa life term plans.

What is the minimum premium for Bharti Axa life term insurance Plans?

Ans- The premium amount depends upon the sum assured and the tenure chosen by an individual. For instance, if a 25 years old healthy (non-smoker) individual opts for a sum assured of Rs 1 crore and tenure of 30 years, the minimum premium he would need to pay to be of Rs 6400.

What critical diseases are covered in Bharti Axa life term insurance?

Ans- Following is the list of critical illnesses covered in Bharti Axa life term insurance:

  1. Cancer of Specified Severity
  2. Open Chest CABG
  • Myocardial Infarction (First Heart Attack of Specific Severity)
  1. Open Heart Replacement or Repair of Heart Valves
  2. Surgery to aorta
  3. Cardiomyopathy
  • Primary (Idiopathic) Pulmonary Hypertension
  • Angioplasty
  1. Kidney Failure Requiring Regular Dialysis
  2. Major Organ / Bone Marrow Transplant
  3. Coma of Specified Severity
  • Permanent Paralysis of limbs
  • Stroke resulting in Permanent Symptoms
  • Multiple Sclerosis with persisting symptoms
  1. Pericardectomy

What are the tax benefits of Bharti Axa life term insurance?

Ans - The policyholder will receive tax benefits on the premiums paid under section 80C of the Income Tax Act. While the claimant will receive the tax benefits on the claim amount received under section 10 (10D) of the IT Act.

URL: https://www.policybazaar.com/insurance-companies/hdfc-life-term-insurance-plans/

  1. Is there any exclusion under the HDFC Term Plans?

Yes, there are certain deaths that are not covered under HDFC term plans:

  • The death happened due to suicide
  • The death occurred due to driving under alcohol’s influence
  • The death occurred due to participating in dangerous activities such as hiking, parachuting, skydiving, etc.
  • The death occurred during childbirth or due to pregnancy
  • The death occurred due to pre-existing health conditions at the time of buying HDFC term plan
  • The death occurred due to participating in illegal activities (prescribed by state laws)
  • The death happened due to STDs (sexually transmitted diseases) like HIV, AIDS, etc.
  • The death occurred due to natural disasters such as tsunamis, earthquakes etc, (unless the life assured has purchased an additional rider to cover deaths due to these natural disasters)
  1. What if I cannot make the payment of premiums on time?

HDFC term insurance will offer you a 15 days’ grace period to pay the unpaid premium amount. However, if you still don’t pay the unpaid premium in the grace period, your HDFC term insurance plan will lapse.

  1. Is there a surrender benefit for HDFC Life Term Plan?

Yes, HDFC Life term plans do offer surrender benefit to its customers. If you haven’t made any claim against your HDFC Life term plan and your policy has acquired its surrender value, you can surrender your plan and the company will pay you back the surrender benefit.

  1. Why should you buy a Term Plan from HDFC Life?

An HDFC Life term plan ensures that your family has much needed financial protection in case something unfortunate happens to you. The plans are designed with the sole purpose of providing coverage against the risk of death. Below-enlisted is a few of the major reasons that you should buy an HDFC Life term plan:

  • Affordable Premiums
  • Peace of Mind
  • Tax Benefits
  • Works is an Expense Manager for your family in your absence
  1. What critical disease is covered in HDFC term insurance plan?

Below is the list of 34 critical diseases covered under HDFC term insurance plan:

  • Cancer Of Specified Severity
  • Open Chest CABG
  • Myocardial Infarction
  • Major Surgery of Aorta
  • Kidney Failure Requiring Regular Dialysis
  • Stroke Resulting In Permanent Symptoms
  • Alzheimer's Disease / Irreversible Organic Degenerative Brain Disorders
  • Apallic Syndrome
  • Benign Brain Tumour
  • Coma Of Specified Severity
  • End Stage Liver Failure
  • End Stage Lung Failure
  • Loss of Independent
  • Blindness
  • Third Degree Burns
  • Major Head Trauma
  • Motor Neuron Disease With Permanent Symptoms
  • Multiple Sclerosis with Persistent
  • Open heart replacement or repair of heart valves
  • Angioplasty
  • Cardiomyopathy
  • Parkinson’s Disease
  • Permanent Paralysis Of Limbs
  • Primary (Idiopathic) Pulmonary Hypertension
  • Major Organ / Bone Marrow Transplant
  • Scleroderma
  • Muscular Dystrophy
  • Poliomyelitis
  • Medullary Cystic Disease
  • Systematic Lupus Erythematosus with Renal Involvement
  • Aplastic Anaemia
  • Loss of Limbs
  • Loss of Speech
  • Deafness
  1. Is HDFC term insurance plan covered under 80c?

Yes, HDFC term insurance plans are covered under section 80C of Income Tax Act, 1961.

  1. Can a person have multiple HDFC Term Plans?

Yes, an individual can have more than one HDFC Term Plans.

  1. What is the maximum age limit for HDFC term plan?

The maximum age limit for HDFC term plans is of 65 years.

  1. What is the minimum premium for HDFC term insurance plan?

The minimum premium amount for HDFC term insurance plans depends upon the sum assured & the tenure (policy term) chosen by the policyholder. For instance, if a 40 years old healthy (non-smoker) individual opts for a sum assured of Rs 50 lakhs and tenure of 20 years, the minimum premium he would need to pay under is of Rs 7783.

  1. Can I switch my policy from another term plan to HDFC term plans?

No. Currently, there is no such provision that allows switching a term insurance plan from another provider to HDFC.

Written By: PolicyBazaar - Updated: 29 August 2019

Bharti AXA Life Term Insurance Plans Reviews

TOTAL REVIEWS (27)
Sachin
Jabalpur
January 23, 2019

Good

Last year, I bought the Bharti Axa Life Flexi Term plan with Bharti Axa term. The process of buying and enrolling into a term plan is very smooth and hassle-free. I was surprised to find out that the enrolment process was done while video recording the whole process to maintain the quality provided by the company. One copy of the tape is kept with the company and the other one was given to me. The claim process with Bharti Axa is also very easy and hassle-free. The customer service team of the company is also very considerate and helpful towards its customers.

Akhil
Jaipur
September 27, 2016

Worth Of Buying

Policy I have is very good in all ways. Premium of it is less and the paybacks are high. Policy covers maximum expenditures and the claims are high which is simple to sanctioned buy the of executives and staff members. Online renewals are possible which is very good facility.

Manohar
Karnal
July 15, 2016

Claims Are Good

My term insurance plan is great which i bought from bharti axa life insurance. Policy premium is less and the returns are high. Policy coverage is high and the claims are even better. Service is fantastic which facilitate by the executives of the company.

Jai
Itanagar
July 05, 2016

Term Insurance

The term insurance policy i have is fantastic and it has some good features like the policy coverage is 90% and the premium is very less. Service provided is quick and online portal service is simple to operate which make's hassle free documentations.

Harish
Dwarakanagar
June 27, 2016

Good

I purchase term insurance plan in very low premium. The service is fantastic which is on time too. The policy coverage is high and claims are easy to sanctioned due to fast service facilitate by the executives of the company. Good investment which reduces tax.

Balram
Kunigal
May 12, 2016

Term policy

Hmmmmm k

Lalit
Noida
March 28, 2016

Poor Policy

My policy is not good because the service is slow, the policy coverage is less, Claims are not good, premiums are high, not help provided by the staff members not in the company or either on the call. Not happy with this policy.

Arjun
Sant_kabir_nagar
March 28, 2016

above average

Term insurance policy plan with bharti axa life insurance. The policy plan is above average and the premiums are low. Policy coverage and the claims are high with high payback returns. Services provided by you guys is appreciable with good behaviour of your staff members and the extra good treatment provided by the executives is very nice.

Karan
Palwal
March 28, 2016

superb

The term insurance policy plan i have is bharti axa life insurance. The policy coverage is high with high claiming amounts. The premiums are low and the payback returns are approx. rs.35 L. The service provided by the executives and the staff members is good with nice behaviour.

Saahir
Kota
March 28, 2016

Great

Great term insurance policy plan i got from bharti axa life insurance. They has good speed and responsive for any query and for any help. Policy coverage is 96% and the claims are good with easy claiming process. The investment is good and it saves taxes also.

Sandeep
Navi_mumbai
March 28, 2016

Good Investment

I'm using term insurance policy plan from last two years with bharti axa life insurance. The policy is good and the premiums are very less. The best investment and the taxes are also saved. Policy coverage and claims are good and the services are fantastically fast. I really like my policy plan thank you for this great plan.

Ojasvi
Laxmipur
March 28, 2016

Fantastic plan

My friend suggested me the term insurance policy plan which i buy from bharti axa life insurance. The policy plan is awesome and the features of the policy is great. The policy coverage is 93% and the claims are high but the policy premiums are low. Services are quick and work is easily done in time without any waiting.

Harish
Adaspur
March 28, 2016

Best Policy Plan

My term insurance policy plan is with bharti axa life insurance. The policy plan is very good and with many benefits. Policy coverage is 94% and the claims are even better. The services provided by the executives and staff members are fast and the waiting process is not done in this company because all the paperwork is done by the web services.

Prabhjot
Dwarakanagar
March 28, 2016

Very nice

I finally got a fantastic policy plan which i buy from bharti axa term insurance policy plan. The policy coverage and the claims are high and the premiums are low. The services are really very nice with good payback returns. Great job.

Faisal
Fakirpur
March 28, 2016

slow service

Bharti axa life insurance provides me term insurance policy plan which has low premiums but the policy coverage is good 91% and the claims are high. The claiming part is slow due to slow services provided by the staff members of the company. Please improve your services, rest all things are good.

Abhishek
Bhiwani
March 28, 2016

Trustworthy

The policy i have is bharti axa term insurance policy plan. The policy coverage is 85% and the claiming is easy. The investment is low with huge paybacks. Services provided by the executives and the staff members is fast and on time which is very appreciable. Good job.

Gaurav
Ghaziabad
March 28, 2016

Good Coverage

The term policy plan i bought from bharti axa life insurance. The policy coverage is high ~93% and the claims are good. The services are quick and due to this the claiming get easy. The behaviour is very nice of the staff members and executives. Nice tax cutter also.

Abhinav
Dwarka
March 28, 2016

Awesome

The term insurance policy plan i have from bharti axa life insurance is awesome because of its benefits and terms. The premiums are low with high policy coverage and claims too. The investments are ~rs.49 K twice per year. And the paybacks are approx. Rs.42 L. Awesome plan.

Lokesh
Bikaner
March 28, 2016

Nice

I got my term insurance policy plan from bharti axa life insurance. The policy coverage is high ~82% and the claiming process is easy due to fast services provided by you guys. The internet service is also nice. Premiums are low but the payback returns are high. Nice work guys.

Jiten
Bhubaneshwar
March 28, 2016

Average Policy

I have term policy plan from bharti axa life insurance. The services you provided is bit slow and the paper work is long procedure. Please improve your web services so that the paper work get reduced. The policy coverage is 69% and the claims are okay. Premiums are low.

Amit
Agra
March 28, 2016

Okay

My term policy plan is with bharti axa life insurance. The policy premium is less and the claims are high. The policy coverage ~83% and the services are good provided by the executives and staff members. The web services are also good and responsive. Good work.

Yogesh
Bilaspur
March 28, 2016

Good

I buy bharti axa term insurance policy plan. The policy coverage is good about 81% and the claims are high. The premium is low ~rs.30 K thrice per year. The services are fast and the claims are easily sanctioned. My taxes are also saved due to this policy. Good investment good policy plan, I like it.

Rukhsana
Mumbai
March 08, 2016

Okay.

I buy bharti axa life insurance term policy plan which has low premiums. Policy coverage is 60-70% and claims are rs.17 L. Service is quick with full care and good behaviour. I like the policy.
Plan Name: eProtect
Agent Code: BBE05865

Surinder
Delhi
March 01, 2016

Awesome.

My term plan has 90% policy coverage. Claims are around 30 lakh. Premiums are ~5K annually. Service is fast and always with taking good care. Thanks, bharti axa life insurance for this great policy.
Plan Name: eProtect
Agent Code: BBE05752

Jaicky
Mumbai
February 27, 2016

slow in service

I have term plan from bharti axa life insurance which is good in policy coverage but the service is slow and have to wait for long time period. Claims are high and premiums are low. Please improve your service.
Plan Name: eProtect
Agent Code: BPW00130