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About Bharti AXA Life Insurance
Life insurance is a popular type of insurance plan that provides financial protection to you and your loved ones in case of your absence. Whether you want to accomplish your future goals or secure the future of your family, Bharti AXA Life Insurance Plans are the best. Read on to find out a detailed guide.
Why Buy Life Insurance with Bharti AXA Life
Bharti AXA Life Insurance is a well-known private insurance company in India. The company provides many insurance plans to help create a stable financial future for you and your loved ones. There are numerous other reasons to invest in Bharti AXA life insurance plans. You can find them in the section below:
- Premiums that are reasonably priced: Bharti AXA offers its policyholders economical life insurance alternatives. Anyone can begin investing with a small amount without jeopardizing their current financial goals. You can compare many life insurance plans and choose the one that best fits your needs.
- Anytime Assistance: Another advantage to buying term insurance from Bharti AXA Life is that the company offers it's policyholders 24*7 customer service. If you have any questions about your claims, insurance renewals, policy status, or anything else, you can contact customer support at any time.
- Riders: Riders are supplementary advantages that policyholders can add to their plan by paying an additional premium. Bharti AXA Life offers a variety of rider options that can enhance the coverage of your term insurance policy.
- Claim Settlement: Bharti AXA Life Insurance has a claim settlement ratio of 99.09%. As a result, the company is regarded as safe and reputable for purchasing an insurance policy.
Bharti AXA Life Insurance Calculator
To get an estimate of the life insurance you need to pay, you can make use of a life insurance premium calculator. With the help of Bharti AXA life insurance premium calculator, you will be able to get the premium details in a matter of few minutes. You just need to enter details such as your age, income, coverage, and more to know about the life insurance premium you need to pay.
Why Do You Need a Life Insurance Policy?
There are multiple benefits of buying a life insurance policy such as those listed below:
- With the help of life insurance, you will be able to create a substantial corpus for your future. Along with offering death benefits, there are some life insurance plans such as ULIP, endowment, and more that help in creating wealth.
- Life insurance plans also offer tax benefits. As per section 80C of the Income Tax Act of 1961, life insurance plans are helpful in reducing your tax liabilities.
- Life insurance plans are also helpful for retirement planning. There are a number of retirement plans that are available at affordable rates and which are helpful in securing the golden phase of your life.
- You can also invest in child insurance plans that will help you in creating a substantial corpus for your child’s future. So, explore a number of child plans with InsuranceDekho.
Types of Bharti AXA Life Insurance Plans
Bharti AXA offers a wide variety of life insurance plans for its policyholders. This includes:
- Term Insurance Plans: Term plans provide financial protection against mishaps like the death of the policyholder. You can buy this plan to ensure that your family is financially safe even when you are not around them. Some of the Bharti AXA term insurance plans are Bharti AXA Life Flexi Term plan, Bharti AXA Life eProtect Plan, and more.
- Savings Plan: This type of life insurance provides both a maturity benefit upon the completion of the policy tenure and a death benefit on the death of the policyholder. Anyone who wants to financially secure the future of their family and accomplish their goals can invest in these types of plans.
- ULIPs: ULIPs refers to Unit-Linked Insurance Plans. These plans provide dual benefits to the policyholders. This means the plan offers both life insurance coverage and investment benefits under a single insurance policy. Some of the ULIP plans that you can buy with Bharti AXA are Bharti AXA Life Future Invest plan, and more.
- Child Plans: These plans will help you in providing the best facilities for your children. In simple terms, you can buy child insurance plans to ensure that your child gets high-quality education, and satisfy other financial goals without worrying about money.
- Retirement Plans: You can invest in these types of life insurance plans to secure the golden years of your life. Bharti AXA retirement plans will provide financial coverage to you during your old age. Therefore, you can continue to live a financially stable life. There are two types of retirement plans that you can buy with Bharti AXA Life including Bharti AXA Life Flexi Save Plan and Bharti AXA Life Monthly Income Plan+.
Riders Available with Bharti AXA Life
There are a number of riders that you can include in your Bharti AXA life insurance plan such as those listed below:
- Bharti AXA Life Linked Complete Shield Rider: The Bharti AXA Life Linked Complete Shield Rider provides protection in the event of accidental death, disability, and critical illness.
- Bharti AXA Life Term Rider: This type of rider provides an additional sum assured if the policyholder meets an unfortunate demise along with the death benefits.
- Bharti AXA Life Premium Waiver Rider: The Bharti AXA Life Premium Waiver Rider helps in getting your premiums waived off if the policyholder is diagnosed with any critical illness.
- Bharti AXA Life Group Accidental Death Benefit Rider: The Bharti AXA Life Group Accidental Death Benefit Rider provides financial benefit in case the policyholder meets an accident during the policy term.
- Bharti AXA Life Hospi Cash Benefit Rider: This rider provides a specific amount of money for hospitalisation in case the policyholder is hospitalized.
When Is The Right Time To Buy Life Insurance?
You should ideally buy a life insurance plan as early as you can. This will help in getting life insurance plans at affordable premiums. For instance, if you buy life insurance with Bharti AXA in your 20s, then the premium will be lower as compared to when you do so in your 40s. This is because when you are in your 40s, the chances of falling ill are higher, and so is the life insurance premium higher.
How To Choose The Best Life Insurance?
With so many life insurance companies offering life insurance plans, it can often become confusing to pick the right one. To help you out, we have enlisted some tips to choose the best life insurance plan:
- Analyse Your Requirements: It is very important that you first analyse your financial requirements for the future. This is helpful in choosing the right life insurance coverage for you and your family.
- Financial Dependants: Based on the number of financial dependants you have, you should choose your life insurance coverage. For instance, if you have dependent parents and children, you should buy a life insurance plan with higher coverage.
- Compare the Life Insurance Plans: Another thing that you must do before buying a life insurance plan is to compare the different life insurance plans available. On comparing the different life insurance plans available, you will be able to decide which life insurance plan is suitable for you.
- Check Your Affordability: You should also check your affordability when it comes to buying life insurance plans. You should never buy a life insurance plan which does not fit your budget.
- Claim Settlement Ratio: Checking the claim settlement ratio is an important factor when it comes to buying life insurance plans. You should choose a company that has a higher claim settlement ratio as this increases the efficiency of your claims in getting settled.
Factors Affecting Bharti AXA Life Insurance Premium
Here are some of the factors that affect the premium of your Bharti AXA life insurance plan:
- Depending on the age, the premium of your Bharti AXA life insurance plan will vary. For instance, the premium of an old individual will be higher.
- The life insurance premium is also dependent on the lifestyle. The life insurance premium will be higher for individuals who have an unhealthy lifestyle as their life expectancy is lower.
- Bharti AXA life insurance premium also varies on the basis of the sum insured. For instance, if you buy a Bharti AXA life insurance plan with Rs. 10 lakhs coverage as compared to Rs. 5 lakhs coverage, then the life insurance premium will be higher.
- Another factor that affects the Bharti AXA life insurance premium is the type of life insurance plan you are buying. The premium of ULIP and other market-linked life insurance plans are generally higher as compared to the others.
Best Bharti AXA Life Insurance Plans in 2023
Bharti AXA provides a wide range of life insurance plans to cater to the unique needs of its customers. Find a list of some of the best Bharti AXA Life Insurance Plans in the section below:
Bharti AXA Guaranteed Wealth Pro
18- 75 years
91 days- 60 years
Bharti AXA Life Guaranteed Income Pro
18- 84 years
91 days- 60 years
Bharti AXA Flexi Term Pro
Term Insurance Plan
N/A- 99 years
18- 65 years
Bharti AXA Life Suraksha
Term Insurance Plan
19- 99 years
18- 65 years
Bharti AXA Life Wealth Pro
N/A- 99 years
91 days- 65 years
Bharti AXA Life Grow Wealth Plan
13- 70 years
In addition to this, the company provides many other life insurance plans. To get personalized advice and buy the best insurance policy, you can contact the customer support of InsuranceDekho.
Process to Buy Bharti AXA Life Insurance Plans
Here’s a step-by-step guide to buying Bharti AXA Life Insurance Plans:
- Visit the official website of InsuranceDekho.
- Select “Bharti AXA Life Insurance” available under the “Term Insurance Companies” section.
- Enter the required information in the life insurance premium calculator.
- All the relevant life insurance plans will be displayed on your screen.
- Compare and opt for the plan that best suits your needs.
- Pay a premium online to complete the purchase of your plan.
- Once the above process is completed, the Bharti AXA policy document will be shared with your registered email address.
Documents Required to Buy Bharti AXA Life Insurance Plans
Bharti AXA customers must provide the following documents to buy a life insurance plan:
- Age proof such as Aadhaar card
- Identity proof
- Salary slips for the last 3 months
- Income tax return copy
- Address proof
- Others specifically asked by an insurance company
Bharti AXA Life Insurance Claim Settlement Process
Bharti AXA Life Insurance provides a smooth and hassle-free claim settlement process to its policyholders. Here’s a detailed guide to the claim settlement process that you need to follow:
Documents Required To Claim Bharti AXA Life Insurance
- Claim form
- Original policy document
- Claimant’s statement form
- Self-attested copy of the death certificate
- KYC proof of the nominee
- Bank account details and personalised cancelled cheque from the nominee’s bank account
- FIR copy in case of an accidental death
- Others as specified by the company
Steps You Should Follow To Claim Bharti AXA Life Insurance
- Visit the official website of Bharti AXA Life Insurance.
- Go to the claim section on the company’s page.
- Fill in the claim form correctly.
- Submit the necessary documents requested by your insurance provider.
- An insurance company will assess the documents and the details you provide.
- If satisfied, Bharti AXA will settle the claim for your life insurance plan.
Bharti AXA Life Insurance User Reviews
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Claim Process at Bharti AXA Life Insurance
Claim IntimationIn the event of the death of the life assured, the insurance company should be intimated as early as possible.
Submission of DocumentsFor easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
Claim EvaluationAfter successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
Claim SettlementIf claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.
Why to Buy Life Insurance Policy Online from InsuranceDekho
- Tax benefit upto 1,50,000*
- Claim support everyday 10AM-7PM
- 50 Lacs+ happy customers
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FAQ About Bharti AXA Life Insurance
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.
How long does it take for Bharti AXA Life Insurance to honour a claim?
Generally, Bharti AXA Life Insurance honours life insurance claims within five days. However, claims requiring further investigation can take a maximum of four months.