Bharti Axa Flexi Term Pro Plan
Bharti AXA Life Insurance
Our Verdict
Bharti AXA Life Flexi Term Pro is ideal for individuals seeking customizable life cover with optional premium returns. It offers lifelong protection and rider benefits, but added features may increase overall costs.
About the Plan
The Bharti AXA Life Flexi Term Pro offers customizable term insurance with two options: Without Return of Premium (flexible life cover, whole life up to 99 years) and With Return of Premium (refund of total premiums on survival). Policyholders can increase coverage over time and add riders like Hospital Cash Rider (fixed daily hospitalization benefit) and Premium Waiver Rider (waives future premiums for critical illness). This plan provides flexible, lifelong protection, adapting to individual life stages and evolving financial needs.
About the Plan
Eligibility
• Entry Age :
Minimum 18 years
Maximum varies based on the chosen policy term and premium payment option.
• Maturity Age :
Maximum up to 85 years.
• Policy Term :
Flexible options ranging from 1 year to whole life coverage (up to age 85).
• Premium Payment Term :
Options include single pay, regular pay, and limited pay.
• Sum Assured :
Minimum ₹25,00,000; maximum subject to underwriting guidelines.
Eligibility
Features of the Product
Terminal Illness
If the policyholder is diagnosed with a terminal illness, an advance payout of the sum assured may be provided to help with medical and living expenses.
Zero Cost Option
Under certain conditions, if the policyholder survives the policy term, they may receive a refund of premiums paid, effectively making the coverage cost-free.
Total Permanent Disability Payout
In the event of total and permanent disability, the policy may provide a payout to support the insured during a period of financial instability.
Inflation Protection Coverage
The sum assured may be increased periodically to account for inflation, ensuring the policyholder's family receives adequate financial protection.
Premium Payment Customizations
The policy allows flexibility in premium payment options, including single pay, limited pay, and regular pay, catering to different financial planning needs.
Exclusions
Death due to participation in hazardous activities or adventure sports.
Death resulting from the consumption of alcohol or drugs not prescribed by a medical practitioner.
Death due to pre-existing conditions not disclosed at the time of policy inception.
Exclusions
Accidental Death - An additional payout is provided in case the policyholder's death occurs due to an accident, ensuring enhanced financial security for their family.
Critical Illness - A lump sum benefit is paid if the policyholder is diagnosed with a covered critical illness, helping manage medical expenses and loss of income.
Add-ons
If you are a woman
There will be a 3 year age setback over males’ rates for female lives for fixed terms and separate rates for To Age policy terms which will be lower than corresponding male rates.
If you smoke
Smoking status affects the premium calculation. Smokers typically have to pay a higher premium due to increased health risks.
Note :
Suicide Clause: If the life insured commits suicide within 12 months from the date of policy commencement or revival, the policy shall terminate. In such cases, the insurer's liability is limited to refunding 80% of the total premiums paid, excluding taxes, rider premiums, and extra premiums, without interest.
Free Look Period: Policyholders have a 15-day free look period (30 days for policies sourced through distance marketing) from the date of receipt of the policy document. If dissatisfied with the terms and conditions, they can return the policy stating reasons for objection. The company will refund the premium paid after deducting proportionate risk premium for the period of cover, stamp duty charges, and medical examination costs, if any.
Grace Period: A grace period of 30 days is provided for annual, semi-annual, and quarterly premium payment modes, and 15 days for monthly mode, from the premium due date. During this period, the policy remains in force, and benefits are payable after deducting the unpaid premium.
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About the Company
Bharti was founded in 1976, by Sunil Bharti Mittal. The company has started its journey in the business of manufacturing bicycle parts. It has evolved into one of the most prominent conglomerates in business groups in India. The group has created world class businesses such as telecommunications, insurance, food.
Bharti AXA life insurance is a joint venture between Bharti enterprises and AXA was established in 2006, the joint venture focuses on offering a variety of policies including traditional, term, unit linked and saving plans.
Bharti AXA General insurance: It is another entity under the joint venture focusing on general insurance products such as health, travel and home insurance.