Why Choose Bharti AXA Life Smart Bima?

A comprehensive and flexible group term life insurance plan that includes a death benefit as well as the option of paying premiums in monthly instalments or as annual premiums.

Small Premium Amount
Life Insurance coverage at a small premium amount.
Premium Payment Options
Option of paying premium as annual premium or in monthly instalments.
Hassle Free Process
Ease of buying as members do not need to undergo any medical examination and only need to give a declaration of good health.
Range of Sum Assured
Choose Sum Assured from ₹ 5,000 up to ₹ 5,00,000 as per the group's requirement
Tax Benefits
You can enjoy Tax benefits on the Premiums paid and pay-out benefits received. The Tax benefits fall under Income Tax Act, 1961. They are subject to change as per changes in tax laws from time to time.

Key Benefits

Affordable

Hassle Free Insurance Coverage

Flexible Premium Payment Options

Tax Benefits**

How Does the Plan Work?

Types of groups eligible for insurance under this plan :

Non-Employer - Employee groups where a clearly evident relationship between member & group Policyholder for services other than insurance exist. In case of lender-borrower groups, the life cover under the product will not be linked to the loan disbursed to the member

Minimum Entry Age	18 Years
Maximum Entry Age	50 Years
Maximum Maturity Age	55 Years
Minimum Sum Assured	₹ 5,000
Maximum Sum Assured	₹ 5,00,000

(No new lives beyond 50 years age last birthday will be added to the group. However, Life Insured/Lives Insured aged above 50 years will be allowed to renew their policies till the age of 55 years (age last birthday)).

A new member can join the group at any point during the coverage term subject to the group policy being inforce, eligibility criteria as defined above, and underwriting requirements as prescribed by the Company from time to time.

Insurance Jargon Explained

Death Benefit

The payment made to a beneficiary upon the death of the insured person.

-- Whenever an unfortunate event happens, there is both emotional as well as financial loss. An insurance company helps you replace the financial/monetary loss through the Death Benefit, which helps maintain your family’s financial stability. This benefit includes both a guaranteed sum of money called as Sum Assured on Death and also the Accrued Bonuses, if applicable.

Group Insurance

Insurance covering a number of people under a single policy, issued to their employer with whom they are working.

Premium

The payment, or one of the regular periodic payments, that a policyholder makes to an insurer in exchange for the insurer's obligation to pay benefits upon the occurrence of the contractually-specified contingency (e.g., death).

Surrender

Surrender of a policy happens if the Policyholder voluntarily decides to pre-close the policy before the date of maturity. In this case he will receive a Surrender Value, which is decided on the basis of number of premiums paid and is lower than Maturity Value in most cases, and the policy will be terminated.

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