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Bharti Axa Life Insurance Co. Ltd. is the collaboration between Bharti Enterprises and the AXA group. It offers the combination of a trusted Indian company, Bharti Enterprises, a leader in the Asian-African business field. The AXA group, based out of Paris brings to the table its years of experience in the insurance field.
The company was founded as a joint venture between the partners in December 2006. Bharti Enterprises holds 51% of the company’s stake while the AXA Group owns the remaining 49%.Headquartered in Bangalore, it boasts of 124 branches spread across India. It promises the services of 16,000 well-trained advisers. IT operates with the aim to be attentive, reliable and available.
It prides itself on its professional attitude, practicality, integrity, innovation and the ability to work as a team. It promises to utilise the AXA group’s well researched and tested financial plans. It also offers equal opportunities for all its dedicated workers.
The company has been operational for 9 years but boasts of a strong legacy.
The AXA group is Paris-based, it is the leading Insurance provider in 64 countries globally, with 103 million customers, a workforce of 166,000 and experience of 30 years in the business.
Bharti Enterprises is an Indian venture which has businesses in 18 countries. It has more than 40 years experience to its credit and has established itself in the sectors of agriculture, telecom, financial services and retail.
Despite its infancy, independently it has several awards in its kitty.
It has gathered many other accolades since 2011.
Dedication – their focused approach to the customer, preparedness and attention to detail.
Technological superiority – their reach across digital platforms for convenient access has scored points with the younger generation
Claim handling – Promise to release funds in 48 hrs or provide additional interest. A dedicated claim handler with quick processing and family care benefits. It’s paid INR. 41,57,83,739.3 in claims in Jan’15 to Sep’15
The range of plans – Almost tailor-made to suit the needs of various customers.
The plans devised have covered every eventuality and are detailed meticulously.
Individual Plans
Designed to provide insurance and savings under a single plan, with tax benefits and flexibility of premium payments and benefits claims
Individual Plans
Protection Plans
Bharti AXA Life Insurance policies with additional options for a secure and comfortable life
Investment Plans
Insurance plans with investment options with good returns and low allocation charges with tax benefit
Health Insurance
Triple Health Insurance plan – Covers 13 critical illnesses with claims for up to 3 of them and 100% sum for each claim. Further premiums are waived off after the first claim.
Riders
Additional benefits on existing Insurance plans, which override the plan’s existing payment terms
Group Plans
Life Group Suraksha – One year, renewable policy without the requirement of Medical approval
Minimum age | 18 years; If cover needed up to 70 – 75 years, 40 years at entry | ||||||||||||||||||||
Maximum age |
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Minimum sum assured | INR. 25,00,000 | ||||||||||||||||||||
Death benefit | Sum assured | ||||||||||||||||||||
Policy term | As detailed above | ||||||||||||||||||||
Premium Payment Term | Same as policy term | ||||||||||||||||||||
Premium Payment Modes | Annual and Semi - Annual modes |
Benefits
The plan’s details are as follows
Minimum age | 18 years; If cover needed up to 70 – 75 years, 30 years at entry | ||||||||||||||||||||
Maximum age |
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Sum assured | Min. - INR. 25,00,000 Max. – subject to underwriting |
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Death benefit | As detailed below | ||||||||||||||||||||
Policy term | As detailed above | ||||||||||||||||||||
Premium Payment Term | Same as policy term | ||||||||||||||||||||
Premium Payment Modes | Annual and Semi - Annual modes |
Benefits
A savings plan, which offers the ability to save and withdraw the savings at anytime within a period termed ‘Flexi-Benefit Period’. It offers an option of 3 Payment terms.
Term of Premium payment | 5 years | 7 years | 12 years |
Policy term | 20 years | 25 years | 30 years |
Min. Age at entry | 8 years | 3 years | 0 years |
Max. age at entry | 65 years | 60 years | 55 years |
Max. age at maturity | 85 years | 85 years | 85 years |
Flexi Benefit period | Anytime between 10 and 20 years | Anytime between 15 and 25 years | Anytime between 20 and 30 years |
Benefits
The savings plan is for families with children old or young. The details of the plan
Premium type | Regular Pay | Limited Pay |
Policy term | 11 to 21 years | 11 to 21 years |
Premium Payment term | Same as Policy term | Policy term minus 5 years |
Min. age at entry (age of last birthday) | 18 years | 18 years |
Max. age at entry (age of last birthday) | 50 years | 55 years |
Max. age at maturity (age of last birthday) | 71 years for Regular pay | 76 years for Limited pay |
Min. Sum Assured | Rs. 25,000 | |
Min. Annualized Premium | Depending on the Min. Sum assured | |
Premium payment modes | Annual, Semi-Annual, Quarterly, Monthly |
Benefits
The Quarterly and Monthly payment modes are to be paid by direct account transfer automatically.
Benefits
Time of Payout | % of sum assured payable |
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End of 5th year before maturity | 10% |
End of 4th year before maturity | 10% |
End of 3rd year before maturity | 15% |
End of 2nd year before maturity | 15% |
End of 1st year before maturity | 20% |