Bharti AXA Life Insurance Plans
Taking into consideration the various financial goals and diverse needs of an individual, a wide array of life insurance policies are offered by Bharti AXA. The various policies of Bharti AXA provide solutions to maximize savings, planning children’s future, retirement planning, such other goals. Under the group insurance plan, the company, Bharti AXA provides an option to the employers who want to deliver a life insurance vehicle to their employees in order to help them meet their insurance objective and satisfy long term financial needs. Some of the major individual and group plans of the company are discussed below.
Individual life insurance plans from Bharti AXA
Bharti AXA Life Dhan Varsha: it is a traditional plan which is non-linked and participating. It is accompanied by various benefits like payment of 100% Sum Assured as maturity benefit, provision of flexible premium payment, option to continue with the benefits of the plan even after the life insured passes away, and annual benefits like guaranteed survival benefits and non guaranteed cash bonus.
Minimum sum assured for the plan is Rs. 25,000 however there is no such maximum limit. One has an option of 20 years and 25 years as policy term.
Bharti AXA Life Super Series: this is a unique plan that allows the life insured to choose between two plans depending upon investment and returns, in addition to guaranteed maturity addition receive maturity benefit and receive tax benefits, that too on benefits received along with the premium paid.
There is no such minimum sum assured as it depends on the minimum premium opted. Similarly, there is no point of maximum sum assured. Policy term is either 12 years or 20 years.
Bharti AXA Life Child Advantage: it is again a tradition plan by the company where the life insured gets a benefit of premium waiver. The customers have another option of choose in between endowment (maturity benefit) and money back (as specified in plan), based on individual needs.
This plan comes with a minimum sum assured of Rs. 25,000, hweverone can choose 11 years to 21 years as policy term.
Bharti AXA Life eAjeevan Sampatti+: it is a non linked plan and is available online. Along with guaranteed returns (annual payouts) benefits are covered up to the age of 100 years.
Bharti AXA Life Elite Advantage
Bharti AXA Life Flexi Save
Bharti AXA Life Monthly Income Plan+
Bharti AXA Life Secure Income Plan
Bharti AXA Life Monthly Advantage
Bharti AXA Life Invest Once
Bharti AXA Life Secure Savings Plan
Bharti AXA Life Samriddhi
Bharti AXA Life Aajeevan Sampatti+
This plan comes with minimum sum assured of Rs. 50,00 however no such amount is fixed as maximum.
Bharti AXA Protection Plans
Protection plans are also called term plans which ensure financial support to the family of the life insured in case of death or permanent disability and it does not contain investment benefits like the traditional plans of various companies. Due to this reason, these plans are cheaper than the traditional plans. Claims are allowed only in the circumstances of death of the life insured. Currently, Bharti AXA offers two such plans which are discussed below:
- Bharti AXA Life eProtect+: this plan is quite affordable which can even be bought online. It provides protection to the family of the life insured and also there is a leverage to choose the benefit payout along with tax benefits on premiums and payouts.
The minimum sum assured for this plan is Rs. 32 lakh and there is no such maximum limit. Policy term can be 10, 15, 20, 25, 30 years for ages 60, 65, 70 and 75 years.
- Bharti AXA Life eProtect: this plan has a minimum sum assured of Rs. 25,00,000 and policy can be purchased for 10, 15, 20, 25, 30 years for ages 60, 65, 70 and 75 years.
Bharti AXA Investment Plans
Bharti AXA offers great savings and investments plans which render a safe and secure platform to invest the savings and get competitive returns. The plans offer various benefits like guaranteed interest payments, maturity benefit, market linked plans that provide higher returns, etc. The two plans offered by Bharti AXA are, Bharti AXA Life Future Invest Plan and Bharti AXA Life eFuture Invest Plan. In these plans one can invest for any amount of money for ten years. The investment will be market linked and likewise return will be high.
Bharti AXA Group Plans
Group plans are devised basically to guard a group of people under a single product by the way of a single vehicle which is made for the group rather than an individual. The various group plans by Bharti AXA are:
- Bharti AXA Life Smart Bima: it is a comprehensive plan which is devised to provide flexibility to the lives insured in terms of frequency of premium to be paid and providing death benefit. Under this plan the minimum sum assured is Rs. 5,000 and maximum is Rs. 5,00,000.
- Bharti AXA Life Loan Secure: under this plan, one can get sum assured of Rs. 1, 00,000 and policy can be bought for a term of 2 years to 30 years.
The claim settlement of Bharti AXA life insurance was 88.13% in FY 2013-14 and 80.90% in FY 2014-15, which can be termed a good claim settlement ratio.
How to check Bharti AXA Life Insurance Policy Status
The status of Bharti AXA life insurance policy can be checked anytime online by just visiting the official website of the company. For doing this one needs to enter respective policy details like policy number and date of birth of the life insured.
Online payment of premium for Bharti AXA Life Insurance plans
For the convenience of the customers, Bharti AXA provides the facility of payment of premium online which can be done in any of the ways described below:
Online: customers are eased to pay the premium online via debit cards, credit cards or net banking in three simple steps. The first step is entering policy details, in second step customers choose payment mode and then confirm the payment. In the last step confirmation is attained after entering the authentication details.
Insta-pay: customers are free to make premium payments by using net banking of any of the major leading banks like ICICI bank, PNB, Indian Overseas Bank, J&K Bank, Oriental Bank of Commerce, Allahabad Bank, Bank of India, HDFC Bank and YES Bank.
e-Bill Payment: the customers are given an option to receive and pay premium electronically by net banking of accounts of major banks including ICICI Bank, SBI, Karur Vysya Bank, Citibank, HDFC Bank and Corporation Bank.
Visa Bill Pay: customers who have Visa enabled debit or credit card can pay Bharti AXA premium online just by registering into the website of Visa Bill Pay.