Bharti AXA Life Insurance 2024: Bharti AXA Life Insurance is a partnership between Bharti Enterprises, a well-known business group in India with interests in telecommunications, agriculture, and retail, and AXA, a famous international company that focuses on financial protection and managing assets. The partnership is structured with Bharti holding a majority stake of 51% and AXA holding a minority stake of 49%.
As we continue to broaden our reach throughout the nation with an extensive network of distributors, we are committed to delivering a diverse array of products and services tailored to meet the specific insurance and wealth management requirements of our clientele. Regardless of your aspirations in life, you can rest assured that Bharti AXA Life is well-equipped to provide the appropriate financial solutions to support you in achieving your goals.
About Bharti AXA Life Income Laabh:
- Bharti AXA Life Income Laabh offers a solution for individuals striving to achieve their dreams, providing a sense of security amidst economic uncertainties and rising inflation.
- The plan not only ensures financial stability for your loved ones in case of any unfortunate event but also supports you in pursuing your aspirations without worrying about income.
- With the guarantee of a regular stream of income and a lump sum amount, Bharti AXA Life Income Laabh aims to help individuals maintain their lifestyle and fulfill their financial obligations even in their absence.
- Bharti AXA Life Insurance 2024 is tailored to safeguard your family’s future and empower you to work towards your goals, acknowledging the hard work and dedication you put into realizing your dreams.
- Bharti AXA Life Income Laabh emphasizes the importance of securing the future while providing a safety net for your family, recognizing the uncertainties and challenges individuals face in today’s world.
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This Plan as an Investment Scheme [Bharti AXA Life Insurance 2024]:
- Bharti AXA Life Insurance 2024 offers clients a consistent flow of secure earnings for a period of 10-12 years, contingent upon the chosen policy term.
- The initial payout amounts to 100% of the yearly premium paid, escalating to 150% after a span of five years for a 10-year policy term.
- For a 12-year policy term, the earnings surge by 200% after six years have elapsed.
- Furthermore, either the policyholder or the designated beneficiary will be granted a predetermined lump sum in the final year of the income phase, facilitating the achievement of significant life objectives.
- The primary objective of this product is to enhance the financial stability of the clients and their families.
Benefits Offered:
- Death Benefit is granted in the event of the Life Insured’s passing during the Policy Term, as long as the Policy is active and all premiums up to the date of death have been settled. It will be disbursed to the Nominee promptly upon the insured’s demise.
The Death Benefit is determined by the following criteria:
- Sum Assured on Death
- 105% of the total premiums paid until the date of death
- Surrender Value at the time of death.
| Policy Term | Benefit on Death |
| 15 years and 17 years | The greater of the sum assured plus accrued guaranteed additions, 11 times the annual premium, or 105% of all premiums paid until the policyholder’s death will be provided as the benefit. |
| 20 years | The greater of the sum assured plus accrued guaranteed additions, 13 times the annual premium, or 105% of all premiums paid until the policyholder’s death will be provided as the benefit. |
2. Maturity Benefits:
- Guaranteed Income, calculated as a percentage of the Annualized Premium, will be provided each year during the income period, starting from the end of the Policy Term until the conclusion of the Income Period.
- Additionally, a Guaranteed Lump sum Benefit, defined as a percentage of the Annualized Premium, will be paid out in the final year of the Income Period.
3) No payment for Survival Benefit is available with this product.
4) Tax benefits may be received on premiums paid and benefits received based on current tax laws. Changes in tax laws may affect tax benefits. GST will be added to premium based on current Tax Laws.
Documentation:
- Policyholder needs to complete an ‘Application form/ proposal form’ with correct medical history and provide address proof and other KYC documents.
- In some cases, a medical examination may be necessary, depending on the sum assured and the person’s age.
Particulars:
- You have 30 days to pay your premium after the due date. If you miss this deadline, your policy will lapse.
- You can surrender your policy after paying premiums for 2/3 years. You will receive the higher value between Guaranteed Surrender Value and Special Surrender Value.
- Guaranteed Surrender Value (GSV): GSV is calculated by multiplying GSV Factor with annual premiums and deducting Guaranteed Monthly Income already received.
- You can cancel your policy within 15 days of receiving the documents if you are not satisfied with the coverage and terms, as long as there has been no claim.
FAQ: Bharti AXA Life Insurance 2024
To whom would Bharti AXA Life Insurance pay the claim money?
Bharti AXA Life Insurance pays the claim amount to the claimant in the case of hospitalisation claim. In the case of a death claim, the claim is payable to the nominee.
Who can be a nominee in a Bharti AXA Life Insurance policy?
Policyholders can name any person as a nominee. However, the nominee is generally a close relative, preferably the next of kin.
Can Bharti AXA Life Insurance reject an insurance claim?
Yes, Bharti AXA Life Insurance can reject claims if the claimant/nominee has provided incorrect information. Similarly, non-disclosure can also result in a claim rejection.
If the policy is not assigned, then in what time will the refund be done?
If the policy is not assigned then it takes only 10 working days to process the refund for the premium amount given for purchasing the policy.