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Bharti AXA Life Insurance T&Cs

173 reviews Rate This
Claim Settlement Ratio99.05%
Customer Care9:00 AM to 7:00 PM
Death Benefit Paid For1,285 Policies
Presence263 Branches
Total Death Benefit PaidRs. 61.56 Crore

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1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

Bharti AXA Life Insurance Life T&Cs

Here are some of the critical terms and conditions in a Bharti AXA Life Insurance term insurance policy.

  • Free-look Period: A free look period of 15 to 30 days is offered from the date of policy issuance. If the policyholder does not agree with the terms and conditions of the policy, or he/she is not satisfied with the policy, he/she may return the policy to Bharti AXA Life Insurance stating the reason of objections. Bharti AXA Life Insurance will cancel the policy and refund the amount of premium deposited after deducting the risk premium for policy and charges for medical examination once the policy is returned.
  • Grace Period: Bharti AXA Life Insurance offers grace period of 15 days for monthly payment and 30 days for annual/semi-annual premium payment. Grace Period is not applicable for single premium payment policies. In case the life assured passes away during this period, the death benefit will be payable after deducting the unpaid premium and the policy will be terminated there and then. The policy will remain in force during the grace period.
  • Revival Period: Bharti AXA Life Insurance term insurance policy renewal is subject to receiving the premium amounts on time. Bharti AXA Life Insurance offers online and offline modes of insurance renewal. Bharti AXA Life Insurance offers a grace period of 90 days to pay the premium. The policy stands to lapse at the end of the grace period. If the policy has lapsed, then the only way to get the policy's benefits is to revive the policy before 5 years from the last premium due date and before the policy's maturity date. For the revival, all the outstanding premiums need to be paid with a late processing fee.
  • Suicide Exclusion: The policy will be terminated if the policyholder/life assured commits suicide at any time or after the date on which the policy has been issued but before the expiry of one year from the date of commencement of the policy.
  • Nomination: Nomination can be made under the life insurance plan as per section 39 of the Insurance Act, 2015.
  • Assignment: Assignment can be made under the life insurance plan as per section 38 of the Insurance Act, 2015.
  • Termination of Policy: Bharti AXA Life will immediately and automatically terminate the life insurance policy on the earliest occurrence of any of the following events:
    - The date on which Death Benefit is paid
    - On the expiry of the policy during the revival period
    - On payment of free look cancellation amount.
    - On the date of plan maturity.
    - On the date of surrender benefit payment
    - In case of forfeiture.
  • Taxation: All Bharti AXA Life Insurance policy payments are subject to Indian taxation laws. Policyholders get income tax benefits under Sec 80C and Sec 10D of the Act. Section 80C of the Income Tax Act allows the person to avail of a maximum deduction of Rs. 1,50,000/- in the total income by paying the premiums of a life insurance policy. Section 10D of the Income Tax Act removes the amount of maturity benefits earned from life insurance from the taxable bracket. The benefit amount earned at maturity is not taxable due to this section.
  • Disclosure of Information: Bharti AXA Life Insurance expects the policyholder to disclose accurate information regarding the age, medical conditions, etc. when purchasing the insurance policy. Failure to do so can result in dishonour of claims when made.
  • Inform Changes: The policyholder is duty bound to inform Bharti AXA Life Insurance of any changes in occupation, address, contact details, etc. Failing to comply with this duty may lead to some dire consequences.
  • Duplicate Policy Document: In the event of the original Bharti AXA Life Insurance policy being reported lost, the policyholder can apply for tor a duplicate policy document in writing.
  • Jurisdiction: All the Bharti AXA Life Insurance terms and conditions are subject to Indian Jurisdiction.
  • Grievance Redressal: If the policyholder/nominee has any grievances against Bharti AXA Life Insurance, he/she should follow the laid down grievance redressal procedure.
  • Exclusive Rights: Bharti AXA Life Insurance has the exclusive rights to review, alter, revise, or delete any of the T&Cs of the policy.

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Bharti AXA Life Insurance User Reviews

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What users are saying
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  • The Bharti AXA Life Insurance Policy stands as a robust fortress safeguarding my family's financial future. It...

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    Bharti AXA
    By Divij Mua
    On: Oct 10, 2023
  • I had to make a claim recently for the Bharti AXA Life Insurance Policy that I bought 2 years ago, and Insuran...

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    Bharti AXA
    By Janki Ragwan
    On: Sep 21, 2023
  • The claims process for the Bharti AXA Life Insurance Policy with InsuranceDeko is efficient and straightforwar...

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    By Sakshi Mittar
    On: Sep 18, 2023
  • While looking for a good life insurance policy, I came to know that InsuranceDekho offers a wide range of cove...

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    By Reymu Chopra
    On: Sep 13, 2023
  • The InsuranceDekho online portal is user-friendly, making it easy to manage my Bharti AXA Life Insurance Polic...

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    By Vaibhav Patnaik
    On: Sep 08, 2023

Claim Process at Bharti AXA Life Insurance

  • 1

    Claim Intimation

    In the event of the death of the life assured, the insurance company should be intimated as early as possible.
  • 2

    Submission of Documents

    For easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
  • 3

    Claim Evaluation

    After successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
  • 4

    Claim Settlement

    If claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.

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