Bharti AXA Life
Flexi Term Plan
(UIN: 130N072V05)(ADVT No. II-Jul-2022-4074)
A Non-Linked Non-Participating Individual Pure Risk Premium Life Insurance Plan
#MultiplePayoutOptions#Flexibility #TaxBenefits
Why Choose Bharti AXA Life Flexi Term Plan?
It is one of the best term insurance plans that’s here to protect you and your family against an unfortunate event. It offers you the flexibility to choose from 3 different life cover pay out options, the benefits of life insurance as well as a critical illness benefit so that your family's needs are always met.
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Multiple Payout Option
In case of an unfortunate event of death of Life Insured, Death Benefit will be payable to the Nominee, subject to Policy being in force and all due premiums have been paid. At the time of seeking coverage under the Policy, you can choose any of the following death benefit payout options, basis your requirement :
Lumpsum
Monthly Income
Lumpsum plus Monthly Income -
Flexibility
You will get flexibility to choose your coverage period as there are multiple Policy Term options available under the product. You can either choose from Fixed Policy Term options of 5, 10, 15 and 20 years or from ‘To Age’ option of 60 years & 75 years.
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Optional Critical Illness Benefit
Option can be availed at inception to cover critical illness at the age of 75. You can either select the comprehensive cover (34 illnesses) or major illnesses cover (15 illnesses) at the inception of the policy.
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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
Death Benefit
Potential Bonus
Multiple Premium Payment Terms
Tax Benefits**
How Does the Plan Work?
Make Your Plan with Ease
Pick Payout Option
Choose one of the options, as per your financial goals.
Lumpsum
Entire Death Benefit will be payable as a lumpsum
Monthly Income
Lumpsum plus Monthly Income
Lumpsum
Entire Death Benefit will be payable as a lumpsum
Monthly Income
Death Benefit will be payable as monthly income for 15 years increasing annually by 10% at simple rate.
Lumpsum plus Monthly Income
50% of Death Benefit will be payable as a lumpsum and the remaining amount will be paid as monthly income for 15 years increasing annually by 10% at simple rate.
Now, Add a Rider
You may enhance your protection under this Plan by opting for the following rider(s)
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.
Insurance Jargon Explained
Maturity Benefit
It is the amount which the insurance company pays to the policy holder on the completion of the Policy Term, if the Life Insured has survived the entire duration of the Policy. This amount includes the guaranteed sum of money called as Sum Assured on Maturity and also the Accrued Bonuses, if applicable.
Term Insurance
A basic insurance plan which provides a lump sum amount to the family of the person who is insured in case of his/her unfortunate death.
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).
Sum Assured
Sum assured is the amount that an insurer agrees to pay on the occurrence of a stated contingency (eg: Death).
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We have more articles and updates. Be assured that you that you have made the right choice with Bharti AXA Life Flexi Term Plan, in order to have certainty for your life goals.
3 Min Read Time | October 31, 2018
3 Min Read Time | October 31, 2018
3 Min Read Time | October 31, 2018
**Tax benefits are in accordance to current tax laws that are subject to change from time to time.