Bharti AXA Flexi Term Plan Brochure

The Bharti AXA Flexi Term Brochure gives details about this term insurance. Bharti AXA Life Flexi Term Plan is a beneficial insurance policy that protects the policyholder and their family in cases of unforeseen events. It also provides ample flexibility to the policyholder, letting them choose from 3 different Life Cover payout options. There are benefits of life and critical illness in this plan, making it comprehensive for the needs of the family.

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Eligibility Criteria of Bharti AXA Flexi Term Plan

As per the Bharti AXA Flexi Term Brochure, the criteria for being eligible are given below:

  1. Minimum Age at Entry

    • Life Cover Option – 18 years
    • Live Cover with Critical Illness Option – 18 years
  2. Maximum Age at Entry

    • Life Cover Option – 65 years
    • Live Cover with Critical Illness Option – 65 years
  3. Maximum Age at Maturity

    • Life Cover Option – 85 years
    • Live Cover with Critical Illness Option – 85 years
  4. Minimum Sum Assured

    • Life Cover Option – 10 lakhs INR
    • Live Cover with Critical Illness Option – 10 lakhs INR, the Sum Assured for critical illness must be less than the Sum Assured under Life Cover, and the former can never exceed the latter.
  5. Maximum Sum Assured

    • Life Cover Option – 25 lakhs INR
    • Live Cover with Critical Illness Option
      • Life Cover - 25 lakhs INR
      • Critical Illness – 25 lakhs INR, the Sum assured for critical illness must be less than the Sum Assured under Life Cover, and the former can never exceed the latter.
  6. Policy Term

    • Life Cover Option
      • Fixed – 5 years, 10 years, 15 years. And 20 years
      • To Age – 60 years and 75 years
    • Live Cover with Critical Illness Option – Same as the policy term of life cover
  7. Premium Payment Term

    • Life Cover Option – Regular pay, same as policy term
    • Live Cover with Critical Illness Option – Regular pay, same as policy term
  8. Premium Payment Mode

    • Life Cover Option – Annual, Semi-Annual, Quarterly, and Monthly. All payable through ECS only.
    • Live Cover with Critical Illness Option – Annual, Semi-Annual, Quarterly, and Monthly. All payable through ECS only.

Salient Features of Bharti AXA Flexi Term Policy

This Bharti AXA Flexi Term Brochure lists many features below, which make this policy such an appealing choice:

  • There are multiple death benefits payout options as per the family’s requirements – In case of the demise of the life assured; the nominee will become eligible for the death benefit. This is provided all premiums have been paid, and the policy is still in force. In such circumstances, this plan gives multiple options to the nominee for payouts:
    • Lump-Sum – The total death benefit becomes payable to the nominee, thereby securing their immediate financial future
    • Monthly Income – Under this payout option, the family receives monthly benefits from the death benefit spread out over fifteen years, with an appreciation of 10% simple interest per annum. This brings two-fold benefits
      • Regular income for the family members to meet daily needs over a period of the next fifteen years
      • The annual increase makes sure that inflation never affects the family
    • Lump-Sum AND Monthly Income – This is a combination of the above two. Half of the death benefit is paid out as a lump sum for immediate requirements. The balance half is spread over the next fifteen years, again as a monthly income appreciating annually by 10% simple interest rate. This covers both the immediate and the long-term financial future.
  • Comprehensive Protection with the aid of optional Critical Illness Benefit – Under this plan, as detailed before in this Bharti AXA Flexi Term Brochure, people can choose critical illness cover in addition to life cover. In case of the unfortunate event where the person is diagnosed with a critical illness, a lump sum payment will be paid out without affecting the death benefit. This is provided all premiums have been paid, and the policy is still in force. Thus, during the recovery, the only worry a person will have is about their health and not the financial implications. It comes in two handy coverage options, as given below:
    • Comprehensive Cover – This gives protection against 34 critical illnesses
    • Major Illnesses Cover – This gives protection against 15 major critical illnesses
  • This plan provides flexibility – Since there are multiple Policy Term options available for this plan, it provides great flexibility. The fixed policy term options are in the multiples of five, beginning at 5 years and going up to 20 years. Under the ‘To Age’ option, 60 years and 75 years define the policy term. 
  • Tax Benefits – There are tax benefits associated with the premiums paid, as well as the benefits received. Note that these are contingent on local tax laws and can always change from time to time. *Tax benefit is subject to changes in tax laws.

Core Benefits of Bharti AXA Flexi Term Insurance Plan

The Bharti AXA Flexi Term Brochure gives the many attractive benefits of this plan. They are given in slight details below:

  1. Death Benefit

    It is the highest among the following:

    • Annualized premium multiplied ten times
    • The Sum of the entire amount of premiums paid till death and five percent extra on that Sum
    • The absolute amount assured payable at death, which is equal to the Base Sum Assured under this plan.
    • Guaranteed Sum Assured at maturity (it is zero under this plan)
  2. Optional Critical Illness Benefit

    This is an option that one can add, other than the life cover. It covers illnesses depending on whether the person has chosen the comprehensive cover or the major illness cover. The former covers 34 critical illnesses, while the latter covers 15 major critical illnesses. Critical illness benefits are payable after 30 days from the date the illness mentioned above occurs. 

The Process to Purchase Bharti AXA Flexi Term Plan

Hereunder this Bharti AXA Flexi Term Brochure, are listed the straightforward steps to purchase the plan:

Step 1: Visit the official website of the provider. Provide all required personal details to register. 

Step 2: After registration, log in to the user account.

Step 3: Select the options that most appeal from those given in this Bharti AXA Flexi Term Brochure.

Step 4: After this, select the Sum assured. Multiple factors determine the value, including the number of family members and existing liabilities. 

Step 5: Thereafter, the applicant will calculate the premiums. This will depend on the premium payment mode and the term. Choose them wisely from the options given in this Bharti AXA Flexi Term Brochure.

Step 6: Upload any documents and other details like a signature, if necessary. 

Step 7: Read the terms and conditions and agree to them, after which it will be time for payment. 

Step 8: Payment can be made either through a debit card or credit card, or direct bank transfer. After the payment, the provider will send an acknowledgement. 

Step 9: Once the policy has been approved, the applicant will receive a soft copy of the policy documents, followed eventually by a hard copy.  

Documents Required to Buy the Plan

As per the Bharti AXA Flexi Term Brochure, the following documents are generally required:

  • ID Proof such as Aadhar Card and Pan Card
  • Age Proof such as Passport
  • Income Proof such as IT Returns or Salary Slips
  • Address Proofs such as Utility Bills or Driving License
  • Passport Size recent photographs. 

Other Features of Bharti AXA Flexi Term Policy

In this Bharti AXA Flexi Term Brochure, critical illness cover has been mentioned before. Here is a list of all the illnesses covered under this plan: 

  1. Comprehensive Cover

    Cancer, Myocardial Infraction, Open Chest CABG, Open Heart Replacement or Repair of Heart Valves, Cardiomyopathy, Aortic Surgery, Primary Pulmonary Hypertension, Angioplasty (up to 5 lakhs deductible from the critical illness benefit, which remains in force after this procedure for other conditions), Pericardiectomy, Coma, Kidney Failure that requires Dialysis, Organ or Bone Marrow Transplant, Stroke with Permanent Repercussions, Multiple Sclerosis with Permanent Symptoms, Permanent Limb Paralysis, Blindness, Third Degree Burns, Major Head Trauma, End-Stage Lung Failure, End-Stage Liver Failure, Deafness, Loss of Speech, Apallic Syndrome, Limb Loss, Aplastic Anaemia, Medullary Cystic Disease, Benign Brain Tumor, Motor Neuron Disease with Permanent Symptoms, Brain Surgery, Alzheimer’s Disease, Muscular Dystrophy, Parkinson’s Disease, Poliomyelitis, Systemic Lupus Erythematous

  2. Major Illnesses Cover

    Cancer, Myocardial Infarction, Open Chest CABG, Open Heart Replacement or Repair of Heart Valves, Cardiomyopathy, Aortic Surgery, Primary Pulmonary Hypertension, Angioplasty (up to 5 lakhs deductible from the critical illness benefit, which remains in force after this procedure for other conditions), Pericardiectomy, Coma, Kidney Failure that requires Dialysis, Organ or Bone Marrow Transplant, Stroke with Permanent Repercussions, Multiple Sclerosis with Permanent Symptoms, Permanent Limb Paralysis.

Terms and Conditions

The Bharti AXA Flexi Term Brochure includes the following general terms and conditions:

  • Definitions – There are various technical words in the policy documents, which are detailed under this term. 
  • Definitions pertaining to Critical Illness Benefit – All the critical illnesses mentioned above are defined in detail under the terms and conditions. 
  • Benefits Payable – Under these terms and conditions, the definitions and details of the following are given:
    • Death Benefit
    • Critical Illness Benefit
    • A waiver on Premium of Critical Illness Benefit
    • Maturity Benefit
    • Payment of Premium
    • Grace Period
  • Under the final section applicable to this policy, the following details are considered:
    • Free Look Period
    • Discontinuance of Premium
    • Revival 
    • Termination
    • Loan 
    • Policy Alterations and Modifications
    • Premium Rates for Critical Illness Benefit
    • Advance Premium
    • This part also contains the exclusion clauses, as given below.

 Key Exclusions of Bharti AXA Flexi Term Plan

The Bharti AXA Flexi Term Brochure terms and conditions contain the following exclusions:

  • Exclusion under Suicide Clause
  • Exclusions under Critical Illness Benefit
    • Pre-existing condition at the time of inception of the policy
    • Self-inflicted injury attempted suicide or suicide.
    • Use of drugs, alcohol, or solvents
    • War, civil commotion, breach of law, hostilities, revolution, rebellion, military coup, and wilful participation in violent acts.
    • Radioactive contamination because of a nuclear accident.
    • Diagnosis and treatment of illness outside India, except the following countries: Canada, Dubai, Hong Kong, Japan, Malaysia, New Zealand, Singapore, Switzerland, USA, and countries of the European Union. These are subject to revisions, based on approval from the IRDAI, from time to time.
    • Participation in aviation activity, except as a fee-paying passenger or working crew in a licensed commercial aircraft.
    • Treatment for injury from dangerous activities like hunting, mountaineering, professional sports, racing, scuba diving, aerial sports, underwater activities, or any deliberate exposure to exceptional danger.
    • Treatment of a donor for the replacement of an organ.

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