<section class="blog">
<div class="blog-content">
<p>Life is full of uncertainties, and planning for unforeseen events is crucial for financial security. Term life insurance offers peace of mind by providing a financial payout to your beneficiaries in case of your unfortunate demise during the policy term. However, critical illnesses can also disrupt your financial well-being, leaving you with a heavy burden of medical expenses and potential loss of income. This is where a critical illness rider comes in, enhancing your term plan by providing additional financial support during a critical illness diagnosis.</p>
</div>
</section>

<section class="blog">
<div class="blog-content">
<h2>What is a Critical Illness Rider?</h2>

<p>A critical illness rider is an optional add-on benefit that you can attach to your <a href="https://www.bhartiaxa.com/term-insurance" rel="noopener noreferrer" target="_blank">term life insurance policy</a>. This rider pays out a lump sum benefit upon the diagnosis of a critical illness covered by the policy. This financial cushion can help you manage the high costs associated with critical illness treatment, including hospitalization, medication, and loss of income while you focus on recovery.</p>

<h2>Benefits of Adding a Critical Illness Rider</h2>

<p>Here's why you should consider adding a critical illness rider to your term plan:</p>

<ul>
	<li><strong>Financial Support During Illness:</strong> Critical illnesses can be financially draining. The lump sum benefit from the rider can help cover medical bills, medicines, and other treatment costs, reducing the financial burden on you and your family.</li>
	<li><strong>Peace of Mind: </strong>Knowing you have a financial safety net in place if diagnosed with a critical illness can provide immense peace of mind, allowing you to focus on your health and recovery.</li>
	<li><strong>Income Replacement:</strong> Critical illnesses can often lead to temporary or permanent disability, impacting your earning potential. The rider payout can help you manage your living expenses and maintain your financial stability during this challenging time.</li>
	<li><strong>Flexibility:</strong> Many critical illness riders offer the option to choose the specific illnesses covered by the policy. This allows you to tailor your coverage to your specific needs and concerns.</li>
	<li><strong>Enhanced Protection:</strong> By combining a term plan with a critical illness rider, you create a more comprehensive insurance solution that protects you against both death and critical illness.</li>
</ul>

<h2>Understanding Critical Illnesses Covered</h2>

<p>Critical illness riders typically cover a range of major illnesses, but the specific list can vary depending on the <a href="https://www.bhartiaxa.com/" rel="noopener noreferrer" target="_blank">insurance company</a> and the chosen plan. Some common critical illnesses covered by riders include:</p>

<ul>
	<li>Cancer</li>
	<li>Heart attack</li>
	<li>Stroke</li>
	<li>Kidney failure</li>
	<li>Major organ transplant</li>
	<li>Coronary artery bypass graft (CABG)</li>
	<li>Paralysis (permanent)</li>
	<li>Multiple sclerosis</li>
	<li>Blindness</li>
</ul>

<h2>Choosing the Right Rider for Your Needs</h2>

<p>Here are some key factors to consider when selecting a critical illness rider:</p>

<ul>
	<li><strong>Covered illnesses</strong>: Review the list of critical illnesses covered by the rider and ensure it aligns with your health concerns and family history.</li>
	<li><strong>Benefit amount:</strong> Choose a rider that offers a sufficient lump sum payout to cover your anticipated medical expenses and potential income loss.</li>
	<li><strong>Cost of the rider:</strong> Adding a rider will increase your overall premium cost. Compare quotes from different insurance companies to find an affordable and comprehensive rider option.</li>
	<li><strong>Claim process:</strong> Understand the claim process of the rider and the required documentation for a smooth claim experience.</li>
	<li><strong>Renewal conditions:</strong> Some riders may have renewal conditions based on your health status in the future.</li>
</ul>

<h2>Important Considerations</h2>

<p>Before adding a critical illness rider, keep these points in mind:</p>

<ul>
	<li><strong>Pre-existing conditions</strong>: Existing health conditions might affect your eligibility for a rider or the premium amount.</li>
	<li><strong>Waiting period:</strong> There might be a waiting period between purchasing the rider and being eligible to claim benefits.</li>
	<li><strong>Claim exclusions: </strong>The rider might have exclusions for certain causes of critical illness or pre-existing conditions.</li>
	<li><strong>Tax implications:</strong> The payout from the rider might be subject to taxes depending on the specific rider and tax laws.</li>
</ul>
</div>
</section>


Saral Jeevan Bima Yojana Premium

Critical Illness Rider in Term Insurance Plan | Bharti AXA Life

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Critical illness rider in term plan is a life insurance policy which is accessible as an independent policy. Know more critical illness coverage at Bharti AXA Life.

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How to Enhance Your Term Plan with a Critical Illness Rider?

<section class="blog">
<div class="blog-content">
<h2 class="section-main-heading">What is group term life insurance?</h2>

<p>Many people are still very much confused when it comes to group term life insurance. In simple words, a group <a href="https://www.bhartiaxa.com/be-smart/term/what-is-term-life-insurance" target="_blank" title="term life insurance">term life insurance</a> can be defined as a contract which is issued to a person to cover more than one person. Usually, it is the companies or brands which opt for such group term life insurance. Group term life insurance given by the employer to the employee offers to cover the family members of the employee. If you think that it is not possible to have group term life insurance and an individual <a href="/life-insurance" target="_blank" title="life insurance policy">life insurance policy</a> at the same time you are wrong as both can exist at a time. The employee of the company becomes eligible for this <a href="https://www.bhartiaxa.com/group-plans/group-term-insurance-plan" target="_blank" title="group term insurance">group term insurance</a> from day one of joining the company/ organization.</p>
</div>
</section>

<section class="blog">
<div class="blog-content">
<h2 class="section-main-heading">How does group term life insurance work?</h2>

<p>According to the research conducted by the Society for Human Resource Management that somewhere around 80% of companies across the globe offer its employees the paid group term life insurance as one of the many benefits. There are a certain set of eligibility requirements which an individual has to meet in the company to become eligible for the same like he/she should be a permanent employee or must have completed at least 30 days in the company, etc. Along with this group term, life insurance can also be adjusted by the employee for qualifying different life events and the time of open-employment.</p>

<p>Usually, the amount of coverage of this group term life insurance is equivalent to the annual salary of the employee. Under this group term insurance, the employees get paid for all the premiums relating to basic coverage by the employer and at times extra premium is also paid to the employees.</p>

<p>Readers should note that once an employee leaves or changes the company, he or she cannot carry forward this group term life insurance with him or her.</p>

<h2 class="section-main-heading">What are the requirements of a group term life insurance?</h2>

<p>In the most common scenario, all the employees of the company/organization become entitled to the coverage of group term life insurance once they meet all the eligibility requirements. However, these requirements of eligibility may vary from one company to another. There will be times when the employee will only become eligible for the cover once he/she has qualified a certain life event.</p>

<p>In case if you are wondering about the process of getting the group term <a href="https://www.bhartiaxa.com/online-insurance-plans" target="_blank" title="insurance cover">insurance cover</a> then let us tells you that it is a quick and easy underwriting process during which the employee has to answer the questions asked to him by the company/organization.</p>

<h2 class="section-main-heading">What are the benefits of having a group term life insurance?</h2>

<p>There is no hiding from the fact that group <a href="https://www.bhartiaxa.com/be-smart/term/top-7-features-of-term-life-insurance-policy" target="_blank" title="term life insurance offer">term life insurance offer</a> employee's proper financial assistance and the much-needed financial independence as well from their employer. If you want to know more about this <a href="https://www.bhartiaxa.com/life-insurance/types-of-insurance" target="_blank" title="type of term insurance">type of term insurance</a>, then read the below-mentioned benefits of having group <a href="https://www.bhartiaxa.com/be-smart/term/importance-of-buying-term-life-insurance-policy-in-india" target="_blank" title="term life insurance policy">term life insurance policy</a>.</p>

<h2 class="section-main-heading">Default insurance cover</h2>

<p>There is no much one has to do to become eligible for the group term insurance because an employee automatically becomes eligible for it by just being part of the company/organization. This group term life insurance is best to provide basic insurance to people who at present do not have a personal life insurance policy.</p>

<h2 class="section-main-heading">Gratuity Funding</h2>

<p>In today's date all thanks to group term insurance that the employees now have access to a systematic method of arranging for funds for the future in the form of gratuity liabilities. The life cover is provided to the employees easily.</p>

<h2 class="section-main-heading">Tax Benefits</h2>

<p>The next benefit of group term life insurance is the <a href="https://www.bhartiaxa.com/term-insurance/term-insurance-tax-benefits" target="_blank" title="tax benefits">tax benefits</a> it gives to both the employer and the employee as well. According to the current Tax Laws and death, benefits are given to the employee is always exempted from the tax under section 10(10D) of the Income Tax Act. This group term insurance is helpful for the employee in two ways- employee welfare as well as retention.</p>

<h2 class="section-main-heading">It can be customized to suit the employee needs</h2>

<p>Another benefit of group term life insurance is that it can be customized to suit the needs of the employee with add-ons for education allowance, repatriation allowance, accidental death and more with the basic cover as well.</p>

<h2 class="section-main-heading">No medical check-ups</h2>

<p>Do you know that once you will have the group term life insurance cover you will be freed from the task of undergoing medical check-ups with your own cost as the company will be paying for the same?</p>

<h2 class="section-main-heading">It is cost-effective</h2>

<p>When we sit to compare the premiums of all the term life insurance, the premium of group term life insurance is way too less than the usual <a href="/term-insurance">term insurance</a>.</p>

<h2 class="section-main-heading">Economic options for both- employer and employee</h2>

<p>The best part about group term life insurance is that every year it is renewed, and it comes with a grace period which is mentioned on the main documents of the policy. With this cover, the employee is able to save a lot on the taxes because the premium which is paid for the same is listed under the business-related expenses. The reason why this group term insurance is great and economic for the employer as well because the cost of insurance cover for every individual is way too costly when compared to the cost of group cover.</p>

<h2 class="section-main-heading">Worldwide coverage</h2>

<p>Last but not the least, another benefit of group life term insurance is that I offer the employee the worldwide coverage. This means that if the policyholder dies in a foreign land then in that case also the nominee will receive the payout of the <a href="https://www.bhartiaxa.com/life-insurance/life-insurance-benefits" target="_blank" title="policy benefits">policy benefits</a> in India.</p>

<h2 class="section-main-heading">Things you should keep in mind while signing your group term life insurance policy</h2>

<p>Now that you are aware of what is group life term insurance and also about the benefits of the same, we would like to conclude this blog by mentioning a few important things which one should keep in mind before you sign the policy papers.</p>

<div>
<ol class="bhartiaxa-order-list">
	<li>
	<h3 class="section-sub-heading">Always read all the terms and conditions carefully</h3>

	<p>One of the biggest and most common mistakes people make while signing the policy paper is that they don't read the terms and conditions properly and then at the time of filing the claims they are rejected. If you don't want the same happening to you as well, then read the information carefully.</p>
	</li>
	<li>
	<h3 class="section-sub-heading">Be honest with the details you fill in the policy form</h3>

	<p>The second thing which one should keep in mind before signing the final policy papers is that you should be honest about all the details including your health so that there is no confusion later.</p>
	</li>
	<li>
	<h3 class="section-sub-heading">Don't refrain from asking any questions</h3>

	<p>Last, if you want to ask any question then do not refrain from doing the same so that you are aware of everything related to the group term life insurance policy.</p>

	<p>We hope that our readers have enjoyed reading the blog and got all the information they had been looking for. If our readers want to know something more specific, then they can reach us through the comment section given below.</p>
	</li>
</ol>
</div>
</div>
</section>


<p>Many people are still very much confused when it comes to group term life insurance. In simple words, a group term life insurance can be defined as a contract that is issued to a person to cover more than one person. Usually, it is the companies or brands which opt for such group term life insurance.</p>


Types of Investment Plans

Benefits of Group Term Life Insurance Plans | Bharti AXA Life

Group Term Life Insurance Plan given by the employer to the employee offers to cover the family members of the employee. Check the benefits of Group Term Life Insurance Policy.

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Benefits of Group Term Life Insurance Plans

<section class="blog">
<div class="blog-content">
<p>Traditional Insurance Plans primarily offer a combination of protection and <a href="https://www.bhartiaxa.com/be-smart/savings/6-features-of-savings-plans" target="_blank" title="savings benefits">savings benefits</a> to customers. Popular Traditional Insurance Plans are the <a href="/savings-plans/super-endowment-plan" target="_blank" title="Endowment Insurance Plans">Endowment Insurance Plans</a> and the <a href="https://www.bhartiaxa.com/be-smart/term/whole-life-insurance-vs-term-insurance-top-differences" target="_blank" title="Whole Life Insurance Plans">Whole Life Insurance Plans</a>. These plans broadly include features such as life insurance cover, guarantees, returns, safety and <a href="https://www.bhartiaxa.com/term-insurance/term-insurance-tax-benefits" target="_blank" title="tax benefits">tax benefits</a>. Traditional policies are considered risk-free, as they provide fixed returns in case of death or maturity of the policy. Investment guidelines given by the regulator (<a href="https://www.bhartiaxa.com/be-smart/life/new-policy-by-irdai-need-to-know-for-insurance-awareness" target="_blank" title="IRDA">IRDA</a>) also ensure safety of funds with a cap on equity investment for the underlying participating fund in which all monies are invested.</p>

<p>Here are some of the reasons that tell you how traditional <a href="/savings-plans">savings insurance plans</a> are beneficial for you:</p>
</div>
</section>

<section class="blog">
<div class="blog-content">
<div>
<ol class="bhartiaxa-order-list">
	<li>
	<h3 class="section-sub-heading">Customer comes first</h3>

	<p>In participating plans, the company can earn margins only when the customer earns margins which means the interest of the company and the customer are aligned.</p>

	<p>As per the insurance law, the company can retain only 1/10th of the profits with 9/10th of the profits being shared with the customers. This is known as the "90/10" rule (As per IRDA (Distribution of Surplus, Regulations 2002) in the insurance industry. For example: If the company makes Rs 100 as profits, Rs 90 has to be given to the customer first.</p>
	</li>
	<li>
	<h3 class="section-sub-heading">Investment risk is borne by the company instead of customer</h3>

	<p>In Unit Linked products the investment risk lies with the customer. On the other hand, in traditional participating products, this risk lies with the company. Traditional <a href="https://www.bhartiaxa.com/online-insurance-plans" target="_blank" title="Insurance Plans">Insurance Plans</a> are apt for customers who are risk averse and do not actively participate in managing the investment.</p>
	</li>
	<li>
	<h3 class="section-sub-heading">Easier to understand</h3>

	<p>Traditional participating plans offer in-built guaranteed benefits hence the 'give and get' equation is simple to comprehend. The product benefits are specified at the outset with lesser dependencies on external factors, making the product extremely simple to understand.</p>

	<p>All in all, Traditional Insurance Plans are an ideal fit for the passive investors as they provide dual benefits of guaranteed returns and protection. If your investment objective is long term savings with safety and guaranteed returns, then Traditional Insurance Plans are the best investment product for you.</p>
	</li>
</ol>
</div>
</div>
</section>


<p>Traditional Insurance Plans primarily offers a combination of protection and savings benefits to customers. Popular Traditional Insurance Plans are the Endowment Insurance Plans and the Whole Life Insurance Plans. These plans broadly include features such as life insurance cover, guarantees, returns, safety, and tax benefits.</p>


A traditional Life Insurance Plans

Demystifying Traditional Insurance Plans - Bharti AXA Life

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Demystifying Traditional Insurance Plans

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Group Accidental Death Benefit Rider

Group Accidental Death Benefit Rider | Bharti Axa Life Insurance

This group life Accidental Death Benefit Rider offers better protection for the family, in case of loss of life of the Life Insured due to any sudden accident.

<table>
	<thead>
		<tr>
			<th>Parameter</th>
			<th>Eligibility Criteria</th>
		</tr>
	</thead>
	<tbody>
		<tr>
			<td width="301">
			<p>Minimum Group Size</p>
			</td>
			<td width="301">
			<p>50 members</p>
			</td>
		</tr>
		<tr>
			<td width="301">
			<p>Minimum age at entry (in years)(age last birthday)</p>
			</td>
			<td width="301">
			<p>18</p>
			</td>
		</tr>
		<tr>
			<td width="301">
			<p>Maximum age at entry(in years)(age last birthday)</p>
			</td>
			<td width="301">
			<p>65</p>
			</td>
		</tr>
		<tr>
			<td width="301">
			<p>Maximum cover ceasing age (in years) (age last birthday)</p>
			</td>
			<td width="301">
			<p>75</p>
			</td>
		</tr>
		<tr>
			<td width="301">
			<p>Minimum policy term(in years)</p>
			</td>
			<td width="301">
			<p>3</p>
			</td>
		</tr>
		<tr>
			<td width="301">
			<p>Maximum policy term(in years)</p>
			</td>
			<td width="301">
			<p>30</p>
			</td>
		</tr>
		<tr>
			<td width="301">
			<p>Premium payment term</p>
			</td>
			<td width="301">
			<p>Single</p>
			</td>
		</tr>
		<tr>
			<td width="301">
			<p>Minimum sum assured (in Rs.)</p>
			</td>
			<td width="301">
			<p>100,000</p>
			</td>
		</tr>
		<tr>
			<td width="301">
			<p>Maximum sum assured (in Rs.)</p>
			</td>
			<td width="301">
			<p>50,00,000</p>
			</td>
		</tr>
		<tr>
			<td width="301">
			<p>Self Filled Questionnaire/ Medical check up</p>
			</td>
			<td width="301">
			<p>If Coverage is within the applicable underwriting limits defined as per your age, completion and signing of the Self Filled Questionnaire<br />
			If Coverage exceeds the applicable underwriting limits as per your age, based on medical check up</p>
			</td>
		</tr>
	</tbody>
</table>

<p>The maximum aggregate limit of the benefit for this Rider under all the policies for the same Life Insured shall not exceed Rs.50, 00,000.</p>

<h5>Expiry of the Rider</h5>

<p>Benefits payable under the Rider shall cease to exist, at the occurrence of earliest of the following :</p>

<ul>
	<li>When the Life Insured attains the age of 75 years; or</li>
	<li>When the Base Policy ceases to exist ; or</li>
	<li>Policy anniversary following the intimation by the policyholder in writing to discontinue the Rider; or</li>
	<li>In the event of death of the Life Insured</li>
</ul>


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<h5>Death caused due to an accident :</h5>

<p>Accidental Death is defined as a traumatic death caused solely by external, violent, unforeseeable and visible means, occurring independently of any other causes and within ninety (90) days of such trauma, proved to the satisfaction of the insurer</p>

<h5>Death Benefit :</h5>

<p>Under this Rider Benefit, if the Life Insured dies due to an accident, the Company shall pay the death benefit to the beneficiary. The Death Benefit is a monthly reducing Coverage calculated on the basis of Coverage, Coverage Term and an assumed interest rate.</p>

<h5>Joint Life Coverage :</h5>

<p>The co-borrower can also be covered by the benefits of this rider by paying a premium in addition to the borrower’s premium. Incase of death of any of the lives insured, the benefit will be paid to surviving Life Insured and all benefits under the Coverage would cease. The premiums can be different for substandard lives</p>

<h5>Free-look Option</h5>

<p>If the Life Insured disagrees with any of the terms and conditions of the Coverage, then he/she can return the original Certificate of Insurance along with a letter stating reasons for the objection within 30 days of the receipt date of the Certificate of Insurance. The Coverage will be cancelled and an amount equal to the premium paid less stamp duty costs and underwriting expenses incurred by Bharti AXA Life Insurance in issuing the Coverage will be refunded to you. All your rights under the Coverage shall stand extinguished immediately on the cancellation of the Coverage under the free look option.</p>

<h5>Surrender Benefit :</h5>

<p>In case the life insured seeks to cancel the coverage after the free look period, a refund calculated as per the following formula shall be payable :</p>

<p>SVF X P X U/T, where :</p>

<p>SVF = Surrender Value Factor (as per the table given below)</p>

<p>P = Single premium paid in respect of the Coverage of a Life Insured excluding applicable tax and applicable cess</p>

<p>U = Unexpired Coverage Term (in months)</p>

<p>T = Coverage Term for the Life Insured (in months)</p>


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<p>This group life Accidental Death Benefit Rider offers better protection for the family, in case of loss of life of the Life Insured due to any sudden accident.</p>


<p>A Rider that offers better protection for the family, in case of loss of life of the Life Insured due to any sudden accident.</p>


Bharti AXA Life Group Accidental Death Benefit Rider

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Bharti AXA Life Group Accidental Death Benefit Rider

(UIN:130B006V03)
(ADVT NO:II-Sep-2024-5509)

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Expiry of the Rider

Parameter	Eligibility Criteria
Minimum Group Size	50 members
Minimum age at entry (in years)(age last birthday)	18
Maximum age at entry(in years)(age last birthday)	65
Maximum cover ceasing age (in years) (age last birthday)	75
Minimum policy term(in years)	3
Maximum policy term(in years)	30
Premium payment term	Single
Minimum sum assured (in Rs.)	100,000
Maximum sum assured (in Rs.)	50,00,000
Self Filled Questionnaire/ Medical check up	If Coverage is within the applicable underwriting limits defined as per your age, completion and signing of the Self Filled Questionnaire If Coverage exceeds the applicable underwriting limits as per your age, based on medical check up

Bharti AXA Life Group Accidental Death Benefit Rider

(UIN:130B006V03) (ADVT NO:II-Sep-2024-5509)

4 Reasons to Buy

Expiry of the Rider

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(UIN:130B006V03)
(ADVT NO:II-Sep-2024-5509)