Bharti AXA Life Insurance offers various plans to safeguard the life of the person insured and his/her family. The insurance plans include health plans, protection plans, saving plans, and investment plans. Each plan is designed uniquely to fulfil the needs and goals of the person insured.
Bharti AXA Life Insurance has different policies that provide financial security to the policyholder's family, helps to save tax, accumulate lump sum amount, and aid financial planning. There are various plans which are available for salaried persons, business people, self-employed persons, personal individuals, and senior citizens.
Life insurance plans can be broadly classified into four types. They are endowment plans, ULIP plans, pension plans, and term insurance plans. Term insurance plans provide death benefits only and are considered best for the financial security of the policyholder's family.
Endowment plans are considered as great investment options that offer death benefit as well as maturity benefit.
Although ULIP plans offer death benefits and maturity benefits, there are risks associated with it.
Pension plans are the best means of building a corpus for retirement years. Life Insurance plans have tax benefits too. So let's take a look at the Bharti AXA Life Insurance plans in detail.
Here are the few reasons for buying the Bharti AXA plans:
Life insurance has different plans for customers with different needs. For those who want to save for their retirement can choose pension plans with life insurance policy benefits. Parents wanting to secure their child's future can opt for child plans. Those interested in wealth accumulation can opt for endowment plans. Customers can also opt for ULIP plans if they have higher risk-taking capacity
Bharti AXA Life Insurance Policy covers health expenses or hospitalization charges in case of critical illness
The insurance provides multiple policies that promote savings and augments wealth generation
Bharti AXA Life Insurance comes with guaranteed income payable to policyholders
The insurance provider has a dedicated claim handler to handle all the claim requests. It provides personal assistance for the completion of documentation and settlement of claims. This helps in faster approval of plans
Bharti AXA Life Insurance provides the following type of plans:
Life Elite Advantage Plan
Life Aajeevan Sampatti Plus
Life Monthly Income Plan plus
Term Plan eProtect Plus
Term Plan eProtect
Bharti AXA Life Samriddhi Plus is a non-linked participating plan that offers profits by investing in the participating funds of the company. The policy has non-guaranteed bonuses. There are maturity benefits as well as death benefits.
Features of Bharti AXA Life Samriddhi Plan are:
Type: Participating Endowment Plan
Policy Coverage Benefits:
Death Benefit - On the death of the policyholder, the following benefits are paid to the nominee
Maturity Benefits –
Policy term -
Surrender value –
The surrender value is acquired if a minimum of 2 years of the premium is paid for a policy term of 5 years.
Eligibility Conditions of Bharti AXA Life Samriddhi Plan
Bharti AXA Life Elite Advantage is a non-participating plan with guaranteed annual payments to provide an inflow of cash.
Benefits of Bharti AXA Life Elite Advantage are:-
100% sum assured is paid plus annual pay-outs paid yearly or yearly. Pay-outs can be taken in a lump sum at 5% discounted rate.
Eligibility of Bharti AXA Life Elite Advantage Plan
Bharti AXA Life Aajeevan Sampatti Plus is a saving plan with multiple benefits like maturity benefit, death benefit; annual pay-outs till the age of 100, in addition to non-guaranteed cash bonuses until maturity.
Benefits of the policy are:
The core benefits of Bharti AXA Life Aajeevan Sampatti Plus plan are as follows:
The plan has guaranteed annual pay-outs until the maturity of the policy. From the 10th policy year, an annual payment is offered until the maturity of the plan or death of the policyholder.
The rate of annual pay-out is as follows:
The policy has non-guaranteed cash bonuses given every 6th policy year. The bonuses continue till maturity of the policy or death of the policyholder.
Death benefit: On the death of the policyholder, the nominee gets the highest of:
Maturity benefit: If the policyholder survives until the maturity of the policy, the sum assured is paid.
Eligibility of Bharti AXA Life Aajeevan Sampatti Plus
Bharti AXA Life Monthly Income Plan Plus is a life insurance policy with a monthly income. There are three different policy terms in this plan.
Features of the plan are-
Death benefit: In case of the death of the policyholder, the nominee receives the higher of the two -
Maturity benefit: On maturity of the policy, the policyholder gets Reversionary and terminal bonuses, but neither is guaranteed.
Eligibility Bharti AXA Life Monthly Income Plan Plus
Bharti AXA Term Plan eProtect is a term insurance plan with lower premium options. It comes with two flexible payout option plans.
The features of the plan are as follows:-
Eligibility of Bharti AXA Term Plan eProtect Plus
Bharti AXA Life Future Invest Plan is a ULIP plan which provides good returns as well as the benefit of a life insurance plan.
Features of the unit-linked insurance plan (ULIP) are:
Sum Assured for:
Eligibility AXA Life Future Fund
Bharti AXA Life Invest Once is a non-participating, non-linked, single premium plan.
Features of the plan are:
Eligibility of Bharti AXA Life Invest Once
Bharti AXA Life Child Advantage is a saving plan with two flexible maturity options which can be chosen to suit a child's career prospects.
Features of policy are:
Eligibility of Bharti AXA Life Child Advantage
For Regular Pay Premium:
For Limited Pay Option:
For Both Options:
Bharti AXA Life Insurance plans have different inclusions, exclusions and riders. They are discussed below:
Riders for the accidental death coverage plan are as follows:
It gives fixed benefits each day of hospitalization and lump sum benefit in surgeries.
100% future premiums are paid by the insurance company in cases of the sudden death of the policyholder.
Bharti AXA Life Elite Advantage Plan, Bharti AXA Life Aajeevan Sampatti Plus, and Bharti AXA Life Monthly Income Plan Plus provide a loan of up to 70% of the sum assured once the policy reaches surrender value.
In case the policyholder commits suicide, one year from the death or revival of the policyholder, then 80% of the premiums are paid, or the surrender value will be paid (whichever is higher) to the nominee.
Here is a rundown to the key features and core benefits of Bharti AXA Life Insurance Plans:
Listed below are the features of Bharti AXA Life Insurance policies:
Bharti AXA Life Insurance plans come packed with the following core benefits:
The documents required while applying for the Bharti AXA Life Insurance Plans are listed below:
For the claim process, a person needs to call the insurance provider's claim handler and follow the below steps:-
Original policy bond
Claimant Statement form
For the revival of Bharti AXA Life Insurance within two years of defaulted premium due dates, the documents required are:
A written application for life insurance policy renewal
Evidence of insurability
One can buy Bharti AXA Life Insurance online or offline.
For the online process, visit the Bharti AXA - website, calculate the premiums and click on buy option
Filling up the form and uploading KYC documents
For an offline process, one has to visit the Bharti AXA branch.