Key Benefits of Bharti AXA Life Flexi Term Pro
Key Benefits of Bharti AXA Life Flexi Term Pro
Range of Choices
Tax Benefits#
Death Benefits
Maturity Benefits-Only for Return of Premium Option
You Gain at Every Stage
Maturity Benefit - Only for Return of Premium Option
In case the Life Insured survives till maturity and all due premiums have been paid till the date of maturity, the Sum Assured at Maturity will be payable on the date of maturity.
Sum Assured on Maturity is calculated as the sum of the Total Premiums Paid till the date of maturity of the policy.
No Maturity Benefit shall be payable for Without Return of Premium option.
Increase Sum Assured during the policy term
Under To Age policy terms, for regular premium payment option and Limited Pay (Pay till Age 60) option, the policyholder will have an option to increase the Sum Assured twice during the policy term without undergoing any further medical examination, provided that at the time of exercising this option, the outstanding policy term is at least 10 years and the policyholder’s age is not over 45 years age last birthday. The Sum Assured can be increased by an amount equal to 50% of the Sum Assured chosen at inception. The option to increase Sum Assured has to be chosen at inception of the policy. This option is not available under Joint Life option and With Return of Premium Option.
The cumulative increase of Sum Assured is capped to 100% of the Sum Assured chosen at inception. The increase in Sum Assured shall be effective from the policy anniversary following the exercise of the options. Additional premium shall be collected for the additional Sum Assured, where the premium rate shall be based on the age of the policyholder and the outstanding duration of the policy, as at the policy anniversary following the selection of the option.
Tax Benefits
You may be eligible for tax benefits on the premiums paid as well as the benefits received as per the prevailing tax laws. The tax benefits are subject to change as per change in tax laws from time to time.
Death Benefit
Upon death of the Life Insured during the policy term, provided the policy is in force and all due premiums till the date of death have been paid, Death Benefit will be payable to the nominee/beneficiary immediately on death.
You Can Create Your Plan With 2 Easy Steps
Pick a Plan Option
The plan offers the below options.
Bharti AXA Life Flexi Term Pro – With Return of Premium
Bharti AXA Life Flexi Term Pro – Without Return of Premium : Single Life Option
Bharti AXA Life Flexi Term Pro – Without Return of Premium : Joint Life Option
Bharti AXA Life Flexi Term Pro – With Return of Premium
Scenario :
Krutika is a 40 year old non-smoker and a salaried professional. Her family consists of her husband and a daughter. She is worried about the uncertainties in life and realizes the need for financial protection in life. She wants to ensure that her family’s needs are not compromised in case of her death and wants an insurance solution to this.
Krutika decides to purchase Bharti AXA Life Flexi Term Pro (with return of premium) for a policy term of 25 years regular pay and opts for Lumpsum payout option.
She wants a Sum Assured of Rs. 1,00,00,000 for which she pays a premium of Rs. 35,600 p.a. (exclusive of taxes)
Case :
In case of death of Krutika during the policy term, her family would receive death benefit of Rs. 1 Cr. immediately on death.
In case Krutika survives till the end of policy term i.e. till she turns 65 years, Rs.8,90,000 (35600*25) (all the premiums collected) will be paid out in Lumpsum at the end of Policy term.
The above example is for illustration purpose only.
Bharti AXA Life Flexi Term Pro – Without Return of Premium : Single Life Option
Scenario :
Mr Reddy is a 35 year old non-smoker salaried professional. His family consists of his wife and a son. He is worried about the uncertainties in life and realizes the need for protection in his fast-paced life. He wants to ensure that his family’s needs are taken care of in case of his death and wants an insurance solution to this.
Mr Reddy decides to purchase the Bharti AXA Flexi Term Pro– Single Life (without return of premium) for a policy term of To Age 85 years regular pay and opts for Lumpsum payout option.
He wants a Sum Assured of Rs. 1,00,00,000 for which he pays a premium of Rs. 20,200 p.a. (exclusive of taxes)
Case 1 :
In case of death of Mr Reddy during the policy term, his family would receive death benefit of Rs. 1 Cr. immediately on death.
Case 2 :
Mr Reddy continues to live a healthy life and at the age of 40 years, he gets a promotion. Mr Reddy and his wife have a second child. This is a major milestone of Mr Reddy’s life and due to increased responsibilities, he wants to increase the protection by 50% so as to secure both his children and his wife in case of any unfortunate event.
Based on the increased protection, Mr Reddy’s Sum Assured increases to Rs. 1.5 Cr for which he pays an additional premium of Rs. 12,550 p.a. (exclusive of taxes) i.e., total premium of Rs. 32,750 p.a. for the remaining 45 years of the policy term.
In case of Mr Reddy’s death within 85 years of age, his family would receive Rs. 1.5 Cr immediately on death.
In case Mr. Reddy survives till maturity and all due premiums have been paid till the date of maturity, no Maturity Benefit will be payable.
The above example is for illustration purpose only.
Bharti AXA Life Flexi Term Pro – Without Return of Premium : Joint Life Option
Scenario :
Nikhil is a 40 year old non-smoker working in an MNC, married to Neha who is a 35 year old Homemaker and they have a new born daughter Aisha. Nikhil is aware of his new additional responsibilities and wants to protect his family against all future uncertainties. He wants a cover that will provide life cover to both him and his wife and decides to buy the Bharti AXA Flexi Term Pro – Joint Life (without return of premium) for a policy term of 35 years regular pay and opts for Lumpsum payout option. He wants a Sum Assured of Rs. 1,00,00,000 for himself and a Sum Assured of Rs. 50,00,000 for his wife, for which he pays a total premium of Rs. 30,850 p.a. (exclusive of taxes)
Case 1 :
In case of death of Nikhil during the policy term, his wife, Neha would receive death benefit of Rs. 1 Cr. immediately on death, the future premiums for life cover of Neha will be waived off and the policy will continue for the remaining term.
Case 2 :
In case of death of Neha during the policy term, Nikhil would receive death benefit of Rs.50 Lakhs immediately on death, the future premiums for life cover of Nikhil will have to be paid and the policy cover will continue for the remaining term.
Case 3 :
In case of simultaneous death of both the Nikhil and Neha, the total death benefit of Rs. 1.5 Cr will be paid to the nominee under the policy and the policy will terminate.
The above example is for illustration purpose only.
Scenario :
Krutika is a 40 year old non-smoker and a salaried professional. Her family consists of her husband and a daughter. She is worried about the uncertainties in life and realizes the need for financial protection in life. She wants to ensure that her family’s needs are not compromised in case of her death and wants an insurance solution to this.
Krutika decides to purchase Bharti AXA Life Flexi Term Pro (with return of premium) for a policy term of 25 years regular pay and opts for Lumpsum payout option.
She wants a Sum Assured of Rs. 1,00,00,000 for which she pays a premium of Rs. 35,600 p.a. (exclusive of taxes)
Case :
In case of death of Krutika during the policy term, her family would receive death benefit of Rs. 1 Cr. immediately on death.
In case Krutika survives till the end of policy term i.e. till she turns 65 years, Rs.8,90,000 (35600*25) (all the premiums collected) will be paid out in Lumpsum at the end of Policy term.
The above example is for illustration purpose only.
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Add a Rider
For added protection the following riders can be availed by paying additional premium along with Bharti AXA Life Flexi Term Pro.
Bharti AXA Life Hospi Cash Rider
UIN : 130B007V04
This rider allows payment of a fixed benefit for each day of hospitalisation. It also offers a fixed amount benefit if you are admitted in an Intensive Unit Care or a lump sum benefit in case of surgery.
Bharti AXA Life Premium Waiver Rider
UIN : 130B005V04
Under this rider, in case the Life Insured is diagnosed from any of the 11 critical illnesses covered under the rider, the future premiums are waived off and the benefits under the policy will continue
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Enjoy The Benefits
These illustrative life scenarios layout several use cases to help you see how this life insurance term plan works.
Disclaimer
- Life Insurance Coverage is available under this policy
- Bharti AXA Life Insurance is the name of the Company and Bharti AXA Life Flexi Term Pro (UIN: 130N103V02) is only the name of the non-linked, non-participating, individual, pure risk premium life insurance plan and does not in any way represent or indicate the quality of the policy or its future prospects.
- This product brochure is indicative of the terms, conditions, warranties and exceptions contained in the insurance policy bond.
- Riders are not mandatory and are available for an additional cost.
- Bharti AXA Life Hospi Cash Rider (UIN: 130B007V04) is the name of the traditional non-participating rider and does not in any way represent or indicate the quality of the Rider or its future prospects.
- Bharti AXA Life Premium Waiver Rider (UIN: 130B005V04) is the name of the traditional non-participating rider and does not in any way represent or indicate the quality of the Rider or its future prospects.
- #Tax benefits are as per the Income Tax Act, 1961, and are subject to any amendments made thereto from time to time
- @Provided the policy is in force and all due premiums have been paid.
- *Claim Settlement Ratio, As per annual audited figures submitted to IRDAI for individual death claims for FY 2021-22.
- *For 18-Year-Old, Non-Smoker Male, Regular Pay Option, Policy Term Upto Age 75, Without Return of Premium, on online purchase of policy excluding GST.
- **It is available only in case the Life Insured survives till the end of the Policy Term & all due premiums have been paid till the date of maturity.
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ADVT : II-Apr-2023-4859