Life always finds a way to stay unpredictable. An untimely death in a family can hinder the future of an entire family, even create havoc if that person is the sole bread earner. To avoid such a situation, it is always advisable to have life insurance to safeguard your family against these uncertainties of life. Bharti AXA POS Saral Jeevan Bima Yojana is one such life insurance that a person can purchase and live a stress-free life.
*Tax benefit is subject to changes in tax laws. *Standard T&C Apply
** Discount is offered by the insurance company as approved by IRDAI for the product under File & Use guidelines
One of the prominent features of Bharti AXA POS Saral Jeevan Bima Yojana is that in case an accident leads to the policyholder’s demise, the beneficiary is paid double the Sum Assured. This insurance also has flexible policy terms ranging from 10 to 25 years. One can also purchase the policy without having to go through an extensive medical examination.
Product Features |
Parameters |
|
Minimum |
Maximum |
|
Entry Age |
18 Years |
55 Years |
Age of Maturity |
28 Years |
65 Years |
Term of the Policy |
10/15/20/25 Years |
|
Sum Assured |
INR 50,000 |
No Limitations* |
Premium (in INR) |
Depends on the Sum Assured |
|
Modes of Premium Payment |
Monthly** and Quarterly**, Semi-Annual, Annual |
*The maximum Sum Assured is subjected to the approval of your insurance company’s Board's Underwriting Policy
**Premiums can only be paid through ECS
The Bharti AXA POS Saral Jeevan Bima Yojana has plenty of features. The plan has features and preferences tailored explicitly for ordinary folks. A few of the benefits are listed below:
“Tax benefit is subject to changes in tax laws. Standard T&C apply.”
Considering the benefits and the payment options, examine the following to understand the Bharti AXA POS Saral Jeevan Bima Yojana’s premium calculations.
Assuming Rohit has opted to purchase the policy with a tenure of ten years and has opted for a Sum Assured of INR 10lakhs. Rohit’s annual premium will come around INR 2,860 excluding taxes.
Upon Rohit’s unfortunate demise within the waiting period, his beneficiary will receive all the premiums excluding taxes. If the demise occurs after the waiting period due to natural causes, the beneficiary gets the Sum Assured of INR 10 lakhs.
If Rohit’s death occurs because of an accident, his beneficiary will receive double the Sum assured, a benefit of INR 20 lakhs.
Apart from the base policy, Bharti AXA POS Saral Jeevan Bima Yojana has plenty of amazing riders on offer. A brief idea about each rider is explained below:
NOTE: Among the above-mentioned riders, only the Bharti AXA Life Accidental Total and Permanent Disability Rider and Bharti AXA Life Accidental Death Benefit Rider are applicable for this policy. Other riders are subjected to the company's changes in terms and conditions.
To purchase any policy from an insurer, a person needs to submit a set of Officially Validated Documents (OVDs). These could be a PAN card, AADHAAR card, passport, etc. All the documents asked by the insurer could be as per the KYC norms, Government-mandated or otherwise specified. The insurer could be within its rights to ask for any other supporting documents.
Some of the documents required to purchase a policy are:
This plan cannot be bought online. It could be bought offline by visiting the nearest branch of Bharti AXA. The process to buy the policy offline differs slightly, but the overall process remains the same. One needs to visit the nearest branch, consult an advisor, give him the relevant information, fill in a proposal form, submit all the required documents and pay the premium. Once all the formalities are met, the policy documents are mailed to the policyholder’s doorstep.
To have a seamless policy experience, it is crucial that one is well informed about the policy’s exclusions.
Please refer to the policy brochure to read about all the exclusions.
Major policy exclusions are: