The company understands the importance of easy accessibility of insurance services and thus has made its products available online. Also, by introducing Bharti AXA life insurance online payment process, the insurer has made the premium payments hassle-free.
Read More: HDFC Life Online Payment
Steps to Pay Bharti AXA Life Insurance Premiums Online
Initiating Bharti AXA life insurance online payment is very easy. The company has created user-friendly options and customer-centric products for online reach and expansion. The customer has a wide range of options for making online payments. The steps involved in paying premiums online are as follows.
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Pay Online
The customer can make payment in three simple steps as given below by visiting the website of the insurer.
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The policyholder needs to enter the policy details along with the name and date of birth.
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Upon validating the policy details, the customer is then prompted to choose the bank to avail of net banking.
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The customer can provide the credentials for online banking.
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Confirm the payment by entering the amount.
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The policyholder will be prompted for verification of the transaction, such as an OTP.
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After successful verification, a payment confirmation message is sent to the policyholder through email and SMS.
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Insta Pay
The customer can make use of net banking without having to go through a tedious registration process. The steps for Insta Pay are as follows.
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The customer needs to provide the login credentials of the net banking.
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On successful authentication, the customer needs to provide the bill details.
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The customer can proceed to make payment by clicking on ‘pay now’.
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Authentication of the transaction is done.
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The bank initiates the transfer of funds.
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Via Netbanking
The customer can receive and pay premiums electronically via a net banking account. The steps to pay the premium using electronic bill payment are as follows.
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The customer needs to register on their respective bank's website for a premium bill.
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The customer needs to enter the login details of the bank.
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Click on the bill section and choose ‘Add Bill.’
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Provide the details of the policy.
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Choose the insurer from the drop-down menu.
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Choose the option ‘activate bill payment’.
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The premium bill will be available online from the upcoming payment cycle.
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The premium bill will be available online ten days before the due date. The customer has two ways to make payments.
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View and pay – The customer needs to visit the bank site and transfer the funds manually.
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Autopay- It is a preprogrammed automated process where the funds are transferred automatically on or before the due date.
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Visacard Bill Pay
The customer can use the debit card or the credit card to make quick and easy payments. The customer first needs to register the details of the policy on the visacard bill pay website. The steps to pay online using visa bill pay are as follows.
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Enter the website of visa bill pay.
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Choose the insurer from the drop-down menu.
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Enter the premium amount to be paid.
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The insurer will notify the customer about the premium Bill ten days before the due date.
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The customer needs to view the bill and proceed to pay the premium.
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It is important to note that the debit card or the credit card must be in the policyholder's name.
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Pay over Phone
The customer can choose to make payments over the phone by using the interactive voice response enabled payment. The customer can call the number for IVRS service and request IVR payment. The customer will be redirected to the IVR as requested; the IVR will prompt the customer for credit card details. The premium amount will be debited online from the policyholders' account.
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Auto Debit
It is an easy and reliable option where standing instructions are given to the credit and debit card. It is an instruction that allows the automatic collection of premium amounts from the bank account. It is a reliable process where the customers need no reminders and notifications of the premium bill.
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Direct Debit
It is an auto-debit facility that enables premium payment directly from the bank account. It is an option available to customers where ECS is unavailable.
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ECS
Electronic clearing service offers a convenient way to pay the premium directly from the bank account. The customer needs to submit the auto-pay form and a cancelled cheque with MICR code to the nearest branch office of the insurer.
Check Also: SBI Life Insurance Online Payment | PLI Online Payment
Information Required for Online Process:
To process Bharti AXA Life online payment:
The policyholder needs to provide his basic details such as name, mobile number, and email address for first-time registration.
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The customer needs to submit a photocopy of the credit card/ debit card to enable the auto-debit option.
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For existing users, the authentication process often involves sending an OTP to the registered mobile number.
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The customer needs to provide PAN card details and its photocopy for tax filing.
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The customer can download and save the premium receipt digitally.
Know More: Max Life Insurance Online Payment
Benefits:
Bharti AXA Life online payment is structured for the fast-paced life of its customers. Some of the benefits of using online payments are as follows.
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Services at Fingertips-The online payment bring plenty of options to the customers at their doorstep. The policyholders can use the insurer's official website to get the latest updates and new product releases, which otherwise is difficult to access. The customer can engage with the insurer through social media platforms to get updates and releases.
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Range of Payment Options- The insurer provides plenty of options for premium payments. The customers can pay the premium through the insurer's official website or use the mobile app that can be downloaded and used at ease.
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The Round-the-clock Assistance-The company offers 24*7 assistance to its policyholders by setting up a roust employing customer care team that offers free assistance to the customers whenever is needed.
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Less Paperwork-The online payments also reduce the paperwork considerably as the transfer of funds is accomplished electronically. The customer is given the option to save the premium receipt in pdf without printing it.
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Accessibility and Feasibility-The company provides easy accessibility to crucial online features such as premium payment. The customer can opt for feasible ways ranging from Netbanking, Debit card, credit card, UPI, mobile apps, e-wallets, etc., to buy a new policy or renew the existing policy at the policyholder's convenience.
Difference Between Online and Offline Payment Process
Bharti AXA online payment provides plenty of options for its customers ranging from payment to assistance; the online options are preferable. It is stress-free and helps the customer to get instant access to information. The customer can make payments through the official website of the insurer. The company also has an innovative mobile app that can be downloaded and used at ease. The mobile application comes with all the features available on the official website. The customer with a smartphone can take advantage of the mobile app and its features. The insurer also offers payment options such as net banking, Auto-debit, credit card, debit card, UPI, etc., making online services a desirable option for its customers.
The offline method has fewer options compared to the online. The customer needs to visit the branch offices of the insurer to pay the premium. The customer can also visit bank branches where the bank partners the services of the insurer. The customer can also make use of a cheque to pay the premium. The customer can deposit the cash payment for amounts up to a restricted limit at the bank branch or the insurer's office. The customer also needs to keep the printed receipt safely for future reference.
FAQ's
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What are the details to register for online services?
Ans: The customer needs to submit his name, date of birth, mobile number, and email address.
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What are the options for an offline payment?
Ans: The customer can pay in cash or deposit a cheque by visiting the nearest bank or Bharti AXA insurance branch office.
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What is meant by standing instructions?
Ans: It is an instruction given to the cardholders to debit the money from the bank account automatically. The standing instructions are usually given to the credit card or debit card.
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What are the documents needed to enable the auto-debit option?
Ans: The policyholder needs to submit a photo of the front and back of the debit card along with the duly filled auto-pay form to the nearest insurer’s branch office.
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How many mandates are allowed for a policy?
Ans: The customer can give only one mandate per policy.
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What are the charges for online services availed through the official website of the insurer?
Ans: The insurer does not charge the customers and the online services are free of cost.
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What is the IVR?
Ans: The IVRS is a call system integrated into the internet. It is a round-the-clock option that can be opted by the customer to pay the premium amount without any hassles.
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How can one get an automatic debit option active on the account for premium payment?
Ans: The customer needs to submit a credit card authorization form and a clear photocopy of the front and back of the credit card at a nearby office location of the insurer.