Bharti AXA Elite Secure Life Insurance Plan and Policy
Bharti AXA Elite Secure Life Insurance Plan and Policy - Bajaj Allianz Lifelong Assure is a Whole Life traditional insurance plan that provides coverage till 100 years of the age of insured.
Key Features - Bharti AXA Elite Secure Life Insurance Plan and Policy:
- Participating Traditional Whole Life plan
- Limited Premium Payment Term
- Coverage up to age 100 years
- Cash Bonus
Eligibility Details - Bharti AXA Elite Secure Life Insurance Plan and Policy:
Product Name |
Entry Age |
Maturity Age |
Policy Term |
Premium Payment Term |
Premium Payment Frequency |
Sum Assured |
Bajaj Allianz LifeLong Assure |
10/55 years |
Upto 100 years |
100 years or Last Birthday |
10/15/20 |
Monthly/ Quarterly/ Half Yearly/ Annually |
Rs 1, 00, 000 |
Benefits - Bharti AXA Elite Secure Life Insurance Plan and Policy:
-
Guaranteed Cash Back: After the end of premium payment term once the policyholder turns 99, 3% of the sum assured is paid back as guaranteed sum assured.
-
Death Benefit: In case the insured dies during the policy term,
Higher of,
Entry Age < 45 years
10 x Annualised Premiums
Or,
105% Total Premium
Or,
200%, 250% or 300% of Sum Assured based on the premium payment term
Entry Age is >=45 yrs
7 x Annualised Premiums
Or,
105% Total Premium
Or,
200%, 250% or 300% of Sum Assured based on the premium payment term
- Maturity Benefit: When the plan matures at 100 years of the age of the insured, 200% or 250% or 300% of the sum assured is paid based on the premium payment term of 10, 15 or 20 years respectively including Terminal Bonus, if any.
- Tax Benefit: The claims received and premiums paid are qualified for tax benefits Under Section 80C and 10(10D) of Income Tax Act.
Policy Details - Bharti AXA Elite Secure Life Insurance Plan and Policy:
Grace Period: In case the insured fails to pay his monthly premiums then a grace period of 15 days is allowed. And, in case the insured fails to pay his premiums other than monthly premium modes then a grace period of 30 days is allowed, failure to which policy is subject to lapse.
Policy Termination or Surrender Benefit: If the insured feels he is not satisfied with his plan then he can surrender it after completing 3 years with his plan by paying all the premiums. Surrender value shall be higher of the Special Surrender Value or Guaranteed Surrender Value.
Where, Guaranteed Surrender Value shall be a calculated percentage of the premiums paid excluding Guaranteed Cashbacks. Premiums shall be less the additional rider premiums or any other premiums.
Free Look Period: In case the insured is not satisfied with his plan benefits and features or then terms and conditions then he is free to return his plan within 125 days of receiving it, given that no claims are received yet.
Inclusions - Bharti AXA Elite Secure Life Insurance Plan and Policy:
- The insured get to avail loan of upto 80% of the Surrender value
Additional Features Or Riders - Bharti AXA Elite Secure Life Insurance Plan and Policy:
- Discounted premiums on higher sum assured coverage.
- Rider Covers: Below are the rider options available under the plan options:
- Accidental Permanent / Partial Disability Rider
- Critical Illness Rider
- Family Income Rider
- Waiver of Premium Rider
- Accidental Death Rider
Exclusions - Bharti AXA Elite Secure Life Insurance Plan and Policy:
-
Suicide: In case the insured dies by committing suicide within the first year since inception, then 80% of the premiums are paid to the beneficiaries. In case the insured commits suicide within first year of plan renewal then 80% of the premiums paid or Acquired surrender value is paid.
Documents Required - Bharti AXA Elite Secure Life Insurance Plan and Policy:
The documents that are required to get insured under Bajaj Allianz Life Long Assure Plan are mentioned below:
- Duly filled Application form / Proposal form
- Address Proof
- Age Proof
- Medical History
- Other KYC documents; Adhaar Card, PAN Card, Tax Details etc.
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