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What benefits accrue to the policyholders under the Bharti AXA Life Insurance Yoddha plans?
Bharti AXA Life Insurance recognises the sacrifices made by the soldiers towards securing our nation. Hence, the company offers benefits like covering wars and war-like risks, speedy claim processing, and a simplified claim procedure for casualty suffered on the field.
Do the additional rider benefits in the Bharti AXA Life Insurance policy come at a cost?
Yes, the premium amounts change when the policyholder decides to include the rider benefits in the Bharti AXA Life insurance policy.
Is the option of multiple nominees available with Bharti AXA Life Insurance policy?
Yes, the option of multiple nominees is available, and they can be included in the policy by contacting the service department. In case a person has mentioned any nominee who is minor, then an appointee must be mentioned for him/her as well.
Which is the more beneficial mode of Bharti AXA Life Insurance premium payment, annual or monthly?
It depends on your convenience. However, the annual premium amount comes at a discounted rate, but it has to be paid in advance. The monthly payment is also a convenient payment mode if you do not have a considerable amount of money to spare.
What are the benefits of term insurance or endowment insurance in Bharti AXA Life Insurance policies?
Bharti AXA Life Insurance term insurance enables you to go for a high sum assured with low premiums. On the other hand, an endowment policy entitles you to receive attractive bonuses apart from the sum assured at the time of maturity. Depending on your requirements, both term insurance and endowment policies are beneficial.
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.
What types of plans does Bharti AXA Life Insurance offer to its customers?
Besides life insurance, Bharti AXA Life Insurance offers savings plans, investment plans, group insurance, and even health insurance to its customer base situated across the country.
What are the five different types of premium payment options offered by Bharti AXA Life Insurance?
Bharti AXA Life Insurance offers online insurance premium payment. It also provides the facility to pay your premium over the phone. The Auto Debit facility and the option to pay by cash or cheque are the other alternate modes of insurance premium payment.
What does the Bharti AXA Life Insurance claim settlement ratio signify?
Bharti AXA Life Insurance boasts of a high claim settlement ratio of 97.40% for the FY 2019-20. It signifies that the company honours its insurance claims with the best interests of its customers in mind.
Does Bharti AXA Life Insurance offer any additional riders along with its insurance plans?
Bharti AXA Life Insurance offers five different types of riders, depending on the type of insurance plan you purchase. They include Term rider, Premium Waiver rider, Hospi Cash benefit rider, accidental death benefit rider, and group accidental benefit rider.
Does Bharti AXA Life Insurance offer any additional incentives to the Armed Forces?
Bharti AXA Life Insurance offers excellent services to the Armed Forces by minimising the documentation requirements, simplifying the claims procedures, and hastening the processing of death claims.
Can I get a term insurance at Bharti AXA Life Insurance if I have a pre-existing term policy with some other company?
The customer needs to disclose all the income details along with the existing cover details. The request of coverage by the customer may be accepted or declined based on the underwriting. The coverage amount would be reduced in a counteroffer.
What type of additional riders can a policyholder add in their Bharti AXA Life Insurance plans?
Bharti AXA Life Insurance offers five different types of additional riders such as life term rider, premium waiver rider, Hospi cash benefit rider, accidental death benefit rider, and group accidental benefit rider.
What are the causes of death excluded under the Bharti AXA Life Insurance Flexi Term Policy?
The Bharti AXA Life Insurance Flexi term policy excludes suicides committed in the first year of the policy.
Does Bharti AXA Life Insurance allow nomination facility?
Yes, Bharti AXA Life Insurance allows you to nominate any person (preferably the next of kin) to receive the insurance proceeds in your absence.
Can I have multiple nominees or minors as nominees under the Bharti AXA Life Insurance policy?
If you have a minor as a nominee, you should appoint a major to receive the amount on behalf of the minor. In the case of multiple nominees, you should contact the servicing department to do the needful.
What details should you enter in the Bharti AXA Life Insurance premium calculator?
You should enter your gender, age, policy tenure, and sum insured and click calculate. You can include rider information to arrive at the exact premium amount.
Are the details different for the various Bharti AXA Life Insurance products?
The necessary information is the same. However, there can be minor changes regarding the selection of the plan type and policy term, depending on the product you select.
How does the Bharti AXA Life Insurance premium amount change if the policy has elapsed?
The premium amount after the policy has lapsed (i.e. premium was not paid before the due date or even during the grace period) will include the 8% rate of interest on the original premium amount.
What is the significance of the age in the Bharti AXA Life Insurance premium calculation?
The younger you are, the better it is. You can select a long-term policy and a more substantial sum assured for a lower premium amount.
Which is the ideal frequency for Bharti AXA Life Insurance premium payment?
It depends on your choice. You can select between monthly, quarterly, semi-annual, annual or a single payment, depending on the product you choose.
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Bharti AXA Life Insurance User Reviews
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.