Bharti AXA Life Flexi Term Plan

Bharti AXA Life Insurance, a joint venture between AXA, one of the leading organisations in the world dealing in wealth management and financial protection, and Bharti Enterprises, one of the leading business groups of India with interests in agribusiness, telecom and retail, has a 51% share from Bharti and the remaining 49% stake from AXA.

As they further grow their aura across the nation with a huge network of distributors, they continue to offer pioneering products and services catering to wealth management and specific insurance requirements of the customers. Whatever plans you have in your life, you can be assured that Bharti AXA Life will provide you with the right financial solutions to assist you in achieving them.

What are Term Insurance Plans?

Term Insurance Plans, also known as Term Plans, come with basic protection coverage of the individuals. Term insurance plans are the soul of life insurance that offers financial support to the dependents and the family of the policy holder in case of unforeseen demise the individual. Technically, term plans can be described as a contract between the person insured and the insurance company wherein the company agrees to payout the lump-sum amount, referred to as the Sum Assured if the policy holder expires during the term of the plan. The policy term is the time, in years, for which the insured buys the plan. In the exchange of the promise the insurer makes, the policy holder is required to make payment of the premiums to the company against the coverage for the tenure of the policy he chooses.

Benefits of Bharti AXA Life Flexi Term:

Bharti AXA Life Flexi Term Plan comes with several benefits discussed below: 

Multiple Death Benefits Payout Options are offered for Protection according to your Family’s Needs:

In the case of an unforeseen demise of the life insured, the Nominee will be paid the Death Benefit, subject to the Policy being operative and the payment has been made for all the due premiums.  At the time of obtaining the coverage under the Plan, you can select any of the death benefit payout options mentioned below, depending upon your requirements:

  • Lump sum
  • Monthly Income
  • Lump sum Plus Monthly Income

Total Protection through Discretionary Critical Illness Benefit:

You can also select to enhance your security ahead of life cover and get coverage for Critical Illness. In case, any of the mentioned Critical Illness occurs, the Benefit is paid to you as a Lump sum amount, as selected during the inception, heedless of the death benefit payout option you choose, subject to the policy being in function and the payment is made for all the due payments. This will assure that you can concentrate on your quick recovery without having any worry about any of the financial liabilities. Under the Critical Illness Benefit, you have the elasticity to opt for coverage under any of the following three options (you can select at the inception only):

  • Comprehensive Cover: Protection against 34 critical illnesses
  • Major Illness Cover: Protecting against 15 major critical illnesses
  • Heart and Cancer Cover: Guarding against 9 critical illnesses related to heart and cancer.

Flexibility:

You will be offered flexibility to select the period of your coverage as there are several Policy Term options open under the scheme. You can either choose from options of Fixed Policy Term of 10, 15, 20 and 25 years or from options of 60, 65, 75 and 85 years from ‘To Age’.

Choose Life Cover until you attain an age of 85 years:

You can now acquire a cover for “To Age 85 years” and protect the future of your family all through your life. The nominee will be paid the life insurance benefit, in the case of unforeseen demise of the life insured before you attain an age of 85 years, subject to the policy being in operation and all the due premiums are paid.

Premiums at Affordable Price:

You can get your life insured at premiums at affordable rates. The rates of the premium are lower for female lives and non-smokers.

Tax Benefits:

Tax benefits can be availed by you on the premiums paid and benefits you receive subject to the existing provisions of the Income Tax Act, 1961. The tax benefits can be changed according to the changes in the Tax laws from time to time.

Key Benefits with Bharti AXA Life Flexi Term for you:

Death Benefit:

In the case of unforeseen demise of the Life Insured for the duration of the term of the Policy, the benefits mentioned below are paid to the nominee, subject to Policy being in function. The Death Benefit will be highest of:

  • 10 times of the Annualised Premium*
  • 105% of the paid premiums as on the date of the death
  • Absolute sum assured that is to be paid on demise is equivalent to the Base Sum Assured under this plan.
  • Guaranteed Sum Assured on Maturity that is zero under the policy.

*Modal factors and underwriting extra are not included in Annualised Premium.  

Multiple Death Benefit Payout Options:

At the commencement of the Policy, the Life Insured has a choice to pick any one of the following Death Benefit Payout options:

  • Lump Sum: Entire Death Benefit is paid as a lump sum
  • Monthly Income: Death Benefit is paid as monthly income for 15 years rising by 10% annually at a simple rate of interest.
  • Lump-Sum plus Monthly Income: 50% of the Death benefit is paid as a lump sum and the amount remaining is paid as monthly income for 15 years growing by 10% at simple rate annually.

Optional Critical Illness Benefit:

In case, any of the covered critical illness occurs, depending upon the selected coverage options, the Life Insured is paid the Sum Assured on Critical Illness, subject to Policy being operational on the date on which the critical illness occurs of the life insured and the payment of all the due premiums have been made.

How does the Product Work?

Bharti AXA Life Flexi Term is an inclusive and comprehensive term plan that comes with critical illness benefit. The plan provides you complete flexibility through several options and can be bought hassle free.

Eligibility Details Bharti AXA Life Flexi Term

Life Cover:

Parameters

Minimum

Maximum

Entry Age

18 years

65 years

Maturity Age

 

85 years

Policy Term

Fixed: 10, 15, 20, 25 years

To Age: 60, 65, 75, 85 years

Sum Assured

Rs. 10, 00, 000

Subject to Underwriting

Premium Payment Term

Regular Pay: Same as Policy Term

-

Premium  Payment Frequency

Annual, Semi-Annual, Quarterly and Monthly.

-

Life Cover with Critical Illness Options:

Parameters

Minimum

Maximum

Entry Age

18 years

65 years

Maturity Age

 

75 years

Policy Term

Fixed: 10, 15, 20, 25 years

To Age: 60, 65, 75, 85 years

Sum Assured

Rs. 10, 00, 000

Life Cover: Subject to Underwriting

Critical Illness: Rs.1,00,00,000

Premium Payment Term

Regular Pay: Same as Policy Term

-

Premium  Payment Frequency

Annual, Semi-Annual, Quarterly and Monthly.

-

How is the Calculation of the Premium Done?

  • The determination of the premium is done on the basis of your gender, age as on the last birthday, policy term option you choose, base sum assured and your smoking habits. The Critical Illness benefit premium is determined depending on your age as on gender, age as on last birthday, policy term you choose and Critical Illness sum assured.
  • The Life Cover premium for female lives and non-smokers is lower.
  • Premium Payment Mode: You can select annual, semi-annual, quarterly or monthly premium payment mode.
  • Advance Premium:
    • A Collection of the advance premium is allowed within the same fiscal year for the due premium in that fiscal year. However, where the due premium in one fiscal year is collected in advance in the previous year, the same might be collected for a maximum duration of three months in advance of the premium’s due date.
    • The adjustment for the premium so collected in advance must be done on the premium’s due date.

 

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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Bharti AXA Life Flexi Term Plan Reviews & Ratings

0 / 5 (Based on 31 Reviews)
(Showing Newest 25 reviews)
Omkar
Chennai , October 26, 2021
Great features
I have got day care hospitalization feature under the mediclaim policy which i have purchased from the policybazaar. It offered me lifelong renewability Cover. It includes tax exemption benefits, cashless hospitalization and many other facilities. overall i like my plan.
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Kolkata , October 26, 2021
Trustworthy website
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Kush
Surat, October 26, 2021
Helpful staff
I rarely trust the online purchasing because of the possibility of fraud but Policybazaar has built my trust up. I went through the online process when I was taking care health insurance from here and i found this website trustworthy.
Ranveer
Pune, October 26, 2021
Low cost plan
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Kushal
Jaipur, October 26, 2021
Good Coverage
I have bought Bajaj Allianz Health Insurance for my family and by taking a health plan, I have secured my entire family. I have got coverage against medical expenses and buying my policy online has saved my money as I did not have to pay agent fees.
Jitendra
Lucknow, October 26, 2021
Affordable plan
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Rajesh
Kanpur, October 26, 2021
Easy to compare
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Kuvar
Nagpur, October 26, 2021
Good plan
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Allahabad, October 26, 2021
Hassle free experience
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Bhaskar
Ranchi, October 26, 2021
Problem resolving
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Debyendu
Haora, October 26, 2021
Supportive team
When I was buying my health insurance from the website of Policybazaar, I was a little confused about the policy. I got in touch with the customer care and the executive guided me very well and cleared all my doubts with satisfactory answers. Thanks to Policybazaar for guiding me.
Gaurav
Coimbatore, October 26, 2021
Smooth service
In my health insurance, company is providing me financial assistance. i have got medical coverage against medical expenses arising out of health emergency which i have taken from the Policybazaar. service of policybazaar is very smooth and fast.
Angad
Jabalpur, October 26, 2021
Good service
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Aniruddh
Gwalior, October 26, 2021
Cashless treatment
I have got cashless treatment facility in my health insurance. This will help me to save my savings as I will not have to bear the financial burden of medical expenses. Anyone who is looking for the best and an affordable health plan I would love to recommend Policybazaar to them.
Onkar
Vijayawada, October 26, 2021
Easy Reimbursement
My experience with Policybazaar has been great. I had taken senior citizen health insurance for my mother from Policybazaar. Last month, she was admitted to the hospital due to a medical emergency. When she got discharged I connected with Policybazaar for reimbursement of hospital bills and I got it immediately
Paramjit
Jodhpur, October 26, 2021
No claim bonus
Policybazaar is totally worthy place to buy any kind of plan. I have been using senior citizen health insurance for a long time which i had take for my parents. I never raised the claim request so i got discount on the premium rate when i was renewing the plan.
Kartik
Madurai, October 26, 2021
Add on cover
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Karun
Raipur, October 26, 2021
Low premium
I have taken senior citizen health insurance for my parents. It has Coverage against medical expenses. Pre hospitalization, post hospitalization expenses features are covered under the plan. It has low premium rate and covered huge number of benefits.
Swapan
Kota, October 26, 2021
Easy Reimbursement
I got reimbursement in hospital bills. I bought senior citizen health insurance for my mother from Policybazaar and a month back she faced some medical problems. I connected with policybazaar for reimbursement and i got it without any hassle.
Tarun
Guwahati, October 26, 2021
Pocket friendly plan
I was looking for senior citizen health insurance for a long time which I wanted to take for my father. A relative of mine suggested me the Policybazaar website. I landed to their website and checked the health plans. In the end I finally found one that came within my budget.
Tejas
Chandigarh, October 26, 2021
Affordable plan
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Ayesha
Solapur, October 26, 2021
High coverage
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Bahaar
Hubli And Dharwad, October 26, 2021
Good in customer handling
Policybazaar is very good in terms of handling customers. I bought family health insurance from Policybazaar and their team maintained professionalism with courteous demeanor which was absolutely impressive. I would definitely like to get in touch with Policybazaar for more plans.
Bhagyashree
Bareilly, October 26, 2021
Minimal paperwork
In my family health insurance, every member of my family are covered. there was minimal and Hassle free paperwork. I got high number of coverage and benefits under my plan. the team of policybazaar guided me and helped me to select the suitable plan.
Devika
Moradabad, October 26, 2021
Faster claim settlement
Thankfully I had taken family health insurance from Policybazaar. a while ago, i had to admitted my father to the hospital due to sudden medical emergency. i had claimed and got the claim very easily and quickly. I got faster claim settlement. I am happy with the service.
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