Bharti Axa Life Term Insurance Plans
Bharti AXA Life Insurance, established in the year 2006, is the result of a joint venture between Bharti, one of India’s leading business groups with varied interests ranging from telecom, agricultural business, financial services, etc., and AXA, the global leader in financial protection and wealth management. The solid financial expertise of these business houses has helped the company scale new growth through these years of operation and continue working towards its vision to become among the top 10 profitable insurance companies.
Term Insurance plans offered by Bharti Axa Life Insurance
A term insurance policy helps protect your family from financial insecurities that may arise due to any untoward events in your life, such as death. Bharti Axa life provides multiple term insurance plans to suit the needs of every individual.
- Bharti Axa Flexi Term Plan: This is a pure term plan designed to protect you and your family against any unfortunate events with maximum coverage of up to age 75 years. It provides you with the flexibility to choose from three benefit payout options – Lump sum, Monthly income, and Lump sum plus increasing monthly income. You can enhance life cover with the optional critical illness benefit that covers you against critical illnesses.
- Bharti Axa Grameen Jeevan Bima Yojana: A microinsurance plan that is aimed to provide life protection for the insured with an option to get back the premiums paid on survival of the policy term. The minimum sum assured starts from Rs 10,000 making it an affordable choice for individuals from the lower-income group.
- Bharti Axa Premium Protect Plan: This is a traditional term plan but allows you to increase the sum assured at important life stages. With multiple premium payment terms like single, limited, and regular payment options available, you can opt for a policy term ranging between 10 to 57 years based on the requirement. The minimum sum assured for this policy is Rs 50,00,000.
- Bharti Axa Smart Jeevan: This is a protection plan with a tenure of 12 years if some unfortunate event happens to you. At the end of the policy term, the premiums paid are returned as maturity benefit. You can also claim income tax benefits for the premiums paid and benefits received.
- Bharti Axa POS Saral Jeevan Bima Yojana: A pure life protection plan with standardized features mandated by IRDAI to bring more people into the insurance fold. The policy offers to pay the benefit amount on death claim only, and no maturity benefits are provided. One can buy this policy even without relevant proofs and medical examinations.
- Bharti Axa Income Protection Plan: This policy assures an annual income to the family, for a period of 15 to 20 years, in the case of the policyholder’s unfortunate death. You may also opt for a ‘return of premium’ plan to receive all invested premiums as a maturity benefit. It provides tax benefits on the premiums paid as well as benefits received as per section 80C and section 10 (10D) of the Income Tax Act, 1961.
Why choose Bharti Axa Life Insurance Term plans?
- Bharti Axa life insurance’s claim settlement ratio (CSR) is 97.35% (IRDAI Annual Report 19-20)
- The company is headquartered in Mumbai and at present has 263 offices across the nation.
- More than 17 million policies have been issued so far, iterating the trust placed by the customers in the brand.
- Product of the year 2021, awarded to Bharti Axa’s income and term plans.
More details on Bharti Axa life term insurance plans are available on the website iiflinsurance.com.