A plan that adjusts itself to match your needs
A term plan 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 so that your family's needs are always met.
Maximum coverage term of up to age 85 years
So that you can always be stress-free.
Choose from either of the three critical illness options.
You can either select the comprehensive cover (34 illnesses) or major illnesses cover (15 illnesses) or heart and cancer cover (9 illnesses) at the inception of the policy.
Safeguard your family’s financial needs with Multiple Life Cover Payout Options
You can choose any of the payout options based on your financial requirements– a) Lumpsum or b) Increasing Monthly Income or
c) Lumpsum plus Increasing Monthly Income
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 change in tax laws from time to time.
Let’s take a look at this case study
30 year old Pratyush chooses our Bharti AXA Life Flexi Term, as he was looking for a combination of both a life and health plan. His life cover is a Sum Assured of Rs. 1 crore and he chooses the lumpsum plus monthly income death benefit payout option. The Sum Assured for Critical Illness cover is Rs. 15 lacs and he chooses the Major Illnesses cover for 15 Critical Illnesses. For this, he pays an annual premium of Rs. 11,085* (Rs. 7,300 for life cover and Rs.3,785 for critical illness cover) till he turns 65, which is also the policy term that he chooses.
He starts paying
` 11,085* annually until the end of his policy term
In case of Pratyush’s demise, his family receives an initial lumpsum payout of ` 50 lacs
His family receives a monthly payout of ` 24,283
To counter inflation, the monthly payout will increase by 10% every year. Hence, his family receives a monthly payout of ` 26,713
His family continues to receive an increasing monthly payout of ` 58,283
*Premium is for a non-smoker male and is exclusive of GST.
In case of diagnosis of covered critical illness#, he receives a lumpsum amount of Rs. 15 lacs, irrespective of the treatment cost.
Future premium payments are waived off and the Life Cover will continue till Pratyush turns 65.
# In case of Angioplasty, Critical Illness Benefit equal to Rs. 5 Lac will be payable. The Critical Illness Sum Assured will reduce by Rs. 5 Lac and the reduced Critical Illness Sum Assured will be available for the other covered Critical Illnesses under the chosen Option, other than Angioplasty. All future premiums in respect of the reduced Critical Illness Sum Assured will also reduce.
WHO CAN BUY?
Life Insurance Benefits and other terms related to the term insurance plan
Parameter | Eligibility Criteria | |
---|---|---|
Life Cover | Life Cover with Critical Illness Options |
|
Minimum age at entry | 18 years | 18 years |
Maximum age at entry | 65 years | 65 years |
Maximum Maturity age | 85 years | 75 years |
Minimum Sum Assured# | Rs. 10,00,000 | Rs. 10,00,000 |
Maximum Sum Assured# | Subject to Underwriting | Life Cover: Subject to Underwriting Critical Illness: Rs. 1,00,00,000 |
Policy Term | Fixed: 10, 15, 20, 25 years To Age: 60, 65, 75, 85 years |
Same as Policy Term of Life Cover* |
Premium Payment Term | Regular Pay: Same as Policy Term |
Regular Pay: Same as Policy Term |
Premium Payment Modes | Annual, Semi-Annual, Quarterly$ & Monthly$ |
Annual, Semi-Annual, Quarterly$ & Monthly$ |
VIEW DETAILS
Lumpsum: The entire death benefit will be paid out as a lumpsum amount to secure your family's financial future.
Monthly Income: The death benefit will be paid out as a monthly income increasing annually by 10% at simple rate for a period of 15 years. The increasing monthly income will help to fulfill the day to day needs of your family and also ensure they are protected against inflation.
Lumpsum plus Monthly Income: Half of the death benefit will be paid out as lumpsum for immediate needs, and the remaining half in form of monthly income increasing annually by 10% at simple rate for a period of 15 years. This will help your family take care of not only their immediate needs but also growing needs over the years.
You can also choose to enhance your protection beyond life cover and get coverage for Critical Illnesses. In case of occurrence of any of listed Critical illness, the Benefit (as chosen during inception) will be payable to you as a Lumpsum amount, irrespective of the death benefit payout option chosen, subject to policy being in force and all due premiums have been paid. Under this benefit you have the flexibility of opting coverage under one of the 3 options (can be selected at inception only):
a) 'Comprehensive Cover' – Protection against 34 critical illnesses b) 'Major Illnesses Cover' – Protection against 15 major critical Illnesses c) 'Heart & Cancer Cover' – Protection against 9 critical illnesses related to Heart & Cancer
*represents inclusion of the respective Critical Illness in a particular Option
** In case of Angioplasty, Critical Illness Benefit equal to `5 Lac will be payable. The Critical Illness Sum Assured will reduce by `5 Lac and the reduced Critical Illness Sum Assured will be available for the other covered Critical Illnesses under the chosen Option, other than Angioplasty. All future premiums in respect of the reduced Critical Illness Sum Assured will also reduce. Please read the definitions, exclusions and other applicable conditions as mentioned in the Terms & Conditions.
Choose your own coverage period as there are multiple Policy Term options available under the product. You can either choose from Fixed Policy Term options of 10, 15, 20 and 25 years or from 'To Age' options of 60, 65, 75 and 85 years.
Get cover for "To Age 85 years" and secure your family's future throughout your life. The life insurance benefit will be payable to nominee, in event of unfortunate event of death of Life Insured before the age of 85 years, subject to policy being in force and all due premiums have been paid.
Sample premium for Rs. 1 crore for a healthy male
Age (in years) |
Term (in years) | |||||||
---|---|---|---|---|---|---|---|---|
10 | 15 | 20 | 25 | To Age 60 | To Age 65 | To Age 75 | To Age 85 | |
25 | 4400 | 4500 | 4700 | 5000 | 5700 | 6300 | 6900 | 7500 |
30 | 5000 | 5200 | 5800 | 6400 | 7000 | 7300 | 8600 | 9700 |
35 | 6400 | 7200 | 8000 | 8800 | 8800 | 9600 | 11300 | 13000 |
40 | 9200 | 10400 | 11500 | 12800 | 11500 | 12800 | 15400 | 18000 |
Sample Premium for a Life Cover of Rs. 1 crore with Heart and Cancer Cover of Rs. 15 Lacs for a healthy male life
Age (in years) |
Term (in years) | |||||
---|---|---|---|---|---|---|
10 | 15 | 20 | 25 | To Age 60 | To Age 65 | |
25 | 4,990 | 5,245 | 5,630 | 6,135 | 7,275 | 8,070 |
30 | 6,085 | 6,550 | 7,485 | 8,435 | 9,380 | 9,980 |
35 | 8,470 | 9,720 | 11,060 | 12,400 | 12,400 | 13,675 |
40 | 13,005 | 14,910 | 16,845 | 18,865 | 16,845 | 18,865 |
Sample Premium for a Life Cover of Rs. 1 crore with Major Illnesses Cover of Rs. 15 Lacs for a healthy male life
Age (in years) | Term (in years) | |||||
---|---|---|---|---|---|---|
10 | 15 | 20 | 25 | To Age 60 | To Age 65 | |
25 | 5,755 | 6,045 | 6,440 | 6,975 | 8,215 | 9,030 |
30 | 6,890 | 7,400 | 8,370 | 9,380 | 10,430 | 11,085 |
35 | 9,305 | 10,630 | 12,180 | 13,655 | 13,655 | 15,035 |
40 | 14,100 | 16,180 | 18,500 | 20,620 | 18,500 | 20,620 |
Sample Premium for a Life Cover of Rs. 1 crore with Comprehensive Cover of Rs. 15 Lacs for a healthy male life
Age (in years) | Term (in years) | |||||
---|---|---|---|---|---|---|
10 | 15 | 20 | 25 | To Age 60 | To Age 65 | |
25 | 6,100 | 6,435 | 6,870 | 7,470 | 8,840 | 9,705 |
30 | 7,355 | 7,950 | 9,015 | 10,125 | 11,290 | 12,025 |
35 | 10,035 | 11,490 | 13,220 | 14,865 | 14,865 | 16,395 |
40 | 15,325 | 17,630 | 20,255 | 22,570 | 20,255 | 22,570 |
Please note, all Premium values are exclusive of GST. The rates are illustrated for a Non – Smoker Male Life.
RIDERS
You may enhance your protection under this Plan by opting for the following rider(s):
Bharti AXA Life Accidental Death Benefit Rider(UIN:130N072V03): This is a non-linked and regular pay rider that provides 100% Sum Assured in case of death of the Life Insured due to an accident subject to the rider policy being in force.