EVERY FAMILY NEEDS A SUPERHERO, BE ONE FOR YOUR FAMILY TODAY
Bharti AXA Life Premier Protect Plan A Non-Linked, Non-Participating Life Term Insurance Plan
Bharti AXA Life Insurance is a joint venture between Bharti, one of India's leading business groups with interests in telecom, agri business and retail, and AXA, one of the leading companies in financial protection and wealth management. The joint venture company has a 51% stake from Bharti and 49% stake of AXA. About us:
Bharti AXA Life Premier Protect Plan A Non-Linked, Non-Participating Life Term Insurance Plan Superheroes are entitled with powers to safeguard their loved ones in any situation, good or bad. With Bharti AXA Life Premier Protect Plan, you can now be your family’s superhero and protect them against any uncertainty in your absence. Ensure your family’s dreams and smiles will always remain protected, just the way you would have kept them.
As a responsible individual, you always strive to provide comfort, happiness and security to your family. You want to ensure that your family’s future needs are taken care of in case of any unfortunate incident that may happen with you. But life is uncertain and how do you make sure that your family is secure and protected in every circumstance? At Bharti AXA Life, we understand this and have decided to act. We present to you Bharti AXA Life Premier Protect Plan- a Life Insurance Plan that provides Life Insurance coverage and is designed to protect your family’s future to ensure that they lead their lives comfortably without any financial worries, even in your absence. The plan offers flexibility to choose from multiple Policy Terms with Single Pay, Limited Pay and Regular Pay options. The plan provides you flexibility to choose from multiple Death Benefit Payout options to suit your family’s needs. You may also choose to increase the protection during the Policy Term by paying additional premium on certain life stages and milestones which occur in your life hence, providing enhanced protection to your family.
1) Policy Terms & Premium Payment Terms:
The plan offers the choice of multiple Policy Terms and Premium Payment Terms. The Policy Terms & applicable Premium Payment Terms are as given below:
Premium Payment Option Single Pay Limited Pay (5 year & 10 year PPT) Regular Pay
Minimum Policy Term
Maximum Policy Term
10 years 5 year PPT - 10 years 10 year PPT - 15 years 10 Years
In case of death of the Life Insured during the Policy Term, provided the Policy is in-force and all due premiums have been paid till the date of death, the Death Benefit will be payable to the nominee / beneficiary immediately on the death. 2) Death Benefit:
Death Benefit is the Sum Assured on Death, which is the highest of: • 11 times Annualized Premium* • 105% of all premiums paid as on date of death • Absolute amount assured to be paid on death equal to the Sum Assured • Sum Assured on Maturity, equal to the zero under the Policy
In case of the death of the Life Insured during the Grace Period of 30 days allowed for payment of premiums, the Death Benefit after deducting the unpaid due Premium and any other amount due, shall be payable and the Policy will be terminated. In case of the death of the Life Insured while the Policy is in lapse status, no benefit shall be payable and the Policy will terminate. *Annualized Premium shall be the premium payable in a year chosen by the Policyholder, excluding the underwriting extra premiums/applicable taxes and loadings for modal premiums, if any.
3) Multiple Death Benefit Payout Option:
At the inception of the Policy, the Life Insured has to choose the Death Benefit Payout Option from one of the three options below: a) Lumpsum : Under this option, 100% of the Death Benefit (as defined in Part 2 above) will be paid immediately on death as lump sum. b) Monthly Income : Under this option, the Death Benefit will be paid as 1.04% of the Sum Assured every month in the form of Monthly Income, payable for 10 years with the first installment being payable immediately on death. c) Lumpsum plus Monthly Income : Under this option, 50% of the Death Benefit will be paid immediately on death as lump sum and the remaining 50% of the Death Benefit will be paid as 0.93% of the total Sum Assured every month in the form of Monthly Income, payable for 5 years with the first installment being payable immediately on death. Under the Death Benefit Payout Option as stated in 3 (b) and 3 (c) above, the nominee/beneficiary will have an option to take the Monthly Income as a lump sum. This option is only available at the time of death before the payment of the first installment. The lump sum shall be calculated as a Present Value of Monthly Incomes discounted at 5% p.a. This rate may be revised subject to prior approval from IRDAI. Under Regular Premium Payment Term option only. The Policyholder will have an option to increase the Sum Assured on three milestones during the policy term, provided that at the time of 4) Increasing Sum Assured Option :
exercising this option, the outstanding policy term is at least 10 years and the Policyholder’s age is maximum of 45 years (age last birthday). At each milestone, the Sum Assured can be increased by an amount equal to 50% of the Sum Assured chosen at inception at each milestone listed below:
• • •
Purchase of house (Loan purposes)
Birth of child
The cumulative increase of Sum Assured is capped to 100% of the Sum Assured chosen at inception. The policyholder can increase the Sum Assured on the above mentioned events without undergoing any further medical examination. These options need to be exercised within six months from the date of the milestone and the increase in Sum Assured shall be effective from the policy anniversary following the exercise of this option and additional premium shall be collected for the additional Sum Assured, where the premium rate shall be based on the age of the policyholder and the outstanding duration of the policy, as on the policy anniversary following the selection of the option.
5) Tax Benefits :
You may be eligible for tax benefits on the premiums paid as well as the benefits received as per the prevailing tax laws under Section 80C and Section 10 (10D) of the Income Tax Act, 1961. The tax benefits are subject to change as per change in tax laws from time to time.
Product at a Glance
18 years age last birthday 65 years age last birthday 75 years age last birthday for Single Pay 80 years age last birthday for Limited and Regular Pay Eligibility Criteria
Minimum age at entry Maximum age at entry Maximum age at Maturity
Premium Payment Option Single Pay
Minimum Policy Term
Maximum Policy Term
Policy Term & Premium Payment Term
Limited Pay (5 year & 10 year PPT)
5 year PPT - 10 years 10 year PPT - 15 years
Based on the minimum Sum Assured Annual, Semi-Annual, Quarterly* & Monthly* No Limit, subject to underwriting 25,00,000
Minimum Sum Assured Maximum Sum Assured Premium Payment Modes Minimum Premium
*Through auto-pay only
Siddharth is a 35-year old non-smoker, salaried professional. His family consists of his wife and a son. He is worried about the uncertainties in life and realizes the need for protection in his fast-paced life. He wants to ensure that his family’s needs are taken care of in case of his death and wants an insurance solution to this. Case Study
How does the plan work?
Scenario 1: In case of Siddharth’s death during the Policy Term, his family would receive Death Benefit of ` 50 Lacs immediately on death. Scenario 2: Siddharth continues to live a healthy life and at the age of 40 years, he and his wife plan to have a second child. In this major milestone of Siddharth’s life and due to increased responsibilities, he wants to increase the protection by 50% so as to secure both his children and his wife in case of any unfortunate event. In case of Siddharth’s death till he attains 60 years of age, his family would receive ` 75 Lacs immediately on death. Based on the increased protection, Siddharth’s Sum Assured increases to ` 75 Lacs for which he pays an additional premium of ` 3,950 p.a. (exclusive of taxes) i.e. total premium of ` 10,100 p.a. for the remaining 20 years of the Policy Term. Siddharth decides to purchase Bharti AXA Life Premier Protect Plan for a Policy Term of 25 years Regular Pay and opts for Lump sum Payout option. He wants a Sum Assured of ` 50,00,000 for which he pays a premium of ` 6,150 p.a. (exclusive of taxes).
Other Benefits under the Plan:
Rider Benefits For added protection the following riders can be availed by paying additional premium along with Bharti AXA Life Premier Protect Plan.
Receive additional sum assured as chosen under the rider in case of unfortunate event of death due to an accident This rider allows payment of a fixed benefit for each day of hospitalization subject to maximum of 40 days per year and also provides lump sum benefit in case of surgery Scope of Benefits
Bharti AXA Life Hospi Cash Rider
Bharti AXA Life Accidental Death Benefit Rider
Under this rider, in case the Life Insured is diagnosed from any of the 13 critical illnesses covered under the rider, the future premiums are waived off and the benefits under the policy will continue
Bharti AXA Life Premium Waiver Rider
BEWARE OF SPURIOUS/FRAUD PHONE CALLS! IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
Life Insurance Coverage is available under this product.
Trade Logos used in the document belong to the Bharti Enterprises (Holdings) Private Ltd. and AXA SA respectively and are used by Bharti AXA Life under license. and Bharti AXA Life Insurance Company Ltd. is only the name of the Company and Bharti AXA Life Premier Protect Plan is the name the traditional non-participating life term insurance policy and does not in any way represent or indicate the quality of the product or its future prospects. * Tax benefits are as per income tax Act, 1961, and are subject to any amendments made thereto from time to time. Riders are optional and available at an extra cost. This is not a sales brochure, for more details on risk factors, policy exclusions, terms and conditions, please read the sales brochure available on the website of the company at www.bharti-axalife.com carefully before concluding a sale. Bharti AXA Life Insurance Company Ltd. Regd. Office address: Bharti AXA Life Insurance Company Ltd. [IRDAI Regd. No. 130] Unit No. 1904, 19th Floor, Parinee Crescenzo, 'G' Block, Bandra Kurla Complex, BKC Road, Near MCA Ground, Bandra East, Mumbai - 400051, Maharashtra. CIN: U66010MH2005PLC157108, UIN:130N096V02 , Advt no.: II-Apr-2020-2124
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