Term Insurance Companies in India

Term Insurance Companies in India

Buying an insurance plan was never easy until the digital revolution made shopping online very easy. Many Term Insurance plans are made readily available online by various companies. To make it easy and customer friendly the online portal has made buying term insurance easier and hassle-free.

Just a few clicks can give us different companies catering to the customer and providing the best. In this article let us see the best Term Insurance companies and the best term plan given by the insurer.

What is Term Insurance

Term insurance is one of the most affordable insurance policies, which can be opted by any individual. Term insurance is normally for a fix duration or only for a certain period of years. 

This policy is less expensive compared to the other policies as they do not have a cash value or maturity benefits. 

Owning a term plan can benefit your loved ones in the event of the death of the policyholder, hence the nominee will benefit from the policy. 

Types of Term Plans

Below are the best Term Plans one can opt for:

• LIC e-term Insurance plan
• ICIC Pru iProtect Smart
• SBI Life eShield
• HDFC Life Click 2 protect 3d Plus
• SBI Smart Shield
• Aegon Life iTerm Plan
• Aviva iLife Plan
• Bajaj Allianz eTouch Online Term Plan
• PNB Metlife era Term PlanB

List of Term Life Insurance Companies in India

Below are few listed Term life Insurance companies in India.

LIC Term Insurance

 

Aegon Life Term Insurance

 

Aviva Term Insurance

 

PNB Metlife Mera Term Insurance

 

Bajaj Allianz Term Insurance

 

Tata AIA Term Insurance

 

SBI Term Insurance

 

Aegon Life Term Insurance

Bharti Axa Term Insurance

Dhfl Pramerica Term Insurance

Indiafirst Term Insurance

Birla Sun Life Term Insurance

Exide life Term Insurance

Kotak Term Insurance

Sahara Term Insurance

Best Term Plans Offered by Term Insurance Companies in India

 

Term Plans

Age

Maturity

Policy Term

Premium Payment

Minimum sum assured

Payment Type

LIC’s Term

18 / 60

75

10 – 35

Annually

Rs.25,00,000/- Aggregate

Rs.50,00,00/- Non smoker

LumpSum

Max life Online Term plan

18 /60

70

10 – 35

Annuallly

Rs.25,00,000/-

Lumpsum and income options

BSLI Protect@Ease

18 / 55 Years

80

5-30 years

Monthly (ECS), Annually & Single

Rs. 50,00,000

LumpSum Only

Tata AIA iRaksha Supreme

18 / 70 Years

80

10-40 years

Annually, Semi-Annual, Single

Rs 50,00,000

LumpSum Only

ICICI Prudential – iProtect Smart Plan

18 / 65 Years

75

5-40 years

Monthly, Halfyearly, Annually & Single

Subject to the minimum premium paid

Lumpsum & Income Options

PNB Metlife – Mera Term Plan

18 / 65 Years

75

10-40 years

Monthly & Annually

Rs. 10,00,000

Lumpsum & Income Options

Bajaj Allianz iSecure

18 / 60 Years

70

10 | 15 | 20 | 25 | 30 years

Monthly, Quarterly, Semi-Annually, Annual

Rs.250,000 for general category Rs.20,00,000 for the categories split by Preferred Non-Smoker1 , Non-Smoker1 & Smoker

LumpSum Only

Kotak Preferred e Term Plan

18 / 65 Years

75

10-40years

Monthly, Yearly, Single

Rs 25,00,000

LumpSum Only

HDFC Life Click 2 Protect Plus

18 / 65 Years

75

10 – 40 years

Monthly, Quarterly, Semi-Annually, Annually

Rs 25,00,000

Lumpsum & Income Options

AEGON Life iTerm Plan

18 / 65 Years

75

5 – 40 years; or upto 75years

Annually

Rs10,00,000

LumpSum Only

SBI Life – eShield

 18 / 65 years

70

5 / 30 years

Annually

Rs. 20,00,000/

LumpSum Only

Reliance Online Term

18 / 55 Years

75

10 | 15 | 20 | 25 | 30 | 35 years

Annually

Rs 25,00,000

LumpSum Only

Future Generali – Flexi Term Plan

18 / 55 Years

 

Min: 10 years , Max: Smoker: 65 years minus Entry Age, Non-smoker: 75 years minus Entry Age

Annually

Rs. 50,00,000

Lumpsum & Income Options

Aviva I Life

18 / 55 Years

70

10 – 35 years

Half-Yearly, Yearly

Rs 25,00,000

LumpSum Only

Bharti Axa Life – eProtect

18 / 65 Years

75

Minimum – 10 years, Maximum – to 75 years

Annually

Rs. 25,00,000

LumpSum Only

IDBI Federal – iSurance

18 / 50 Years

75

10-25 years

Annually

Rs 50,00,000

LumpSum Only

IndiaFirst Life – Anytime Plan

18 / 60 Years

70

5-40 years

Monthly (ECS), Semi annually, Annually, Single

Rs. 10,00,000

LumpSum Only

Edelweiss Tokio – MyLife+

18 / 60 Years

80

10 | 15 | 20 | 25 | 30 | 35 | 40 years; & 80years minus Age at Entry

Annually

Rs. 25,00,000

Lumpsum & Income Options

Top Term Insurance Companies in India

Below are some of the Top term insurance companies in India along with their plans.

Max life Term Insurance

• Plan Name – Maxlife Term Insurance Plan Plus
• Age group – 18 to 60
• Maturity period – up to 70 years
• Sum Assuruance – the minimum coverage is Rs.25 lakhs and maximum is Rs.1 crore
• Riders – It comes with additional comprehensive Accident benefit rider.
• Claim settlement Ratio – have catered to 98.26% of claims
• Premium payment- The minimum is Rs. 8000/- and maximum is Rs. 13000/- (excluding taxes).

LIC Tech 

• Plan Name – LIC Tech term Insurance Plan
• Age group – 18 to 65
• Maturity period – up to 80 years
• Sum Assurnace – the minimum is Rs.50 lakhs and maximum no limits.
• Riders – comes with additional Accidental death benefit rider.
• Calim settlement Ratio: have catered to 98.04% of claims
• Premium payment – The minimum is Rs.5000/- and the maximum is Rs. 14000/- (excluding taxes).

ICICI 

• Plan Name – ICICI iProtect Term Insurance Plan
• Age group – 18 to 65
• Maturity period – up to 99 years
• Sum assured – the minimum is Rs.2400/- and maximum no limits.
• Riders – comes with add on benefit.
• Claim settlement Ratio: have catered to 97.88% of claims
• Premium payment – the minimum is Rs.8000/- and the maximum is Rs. 16000/- (excluding taxes).

HDFC

• Plan Name – HDFC Click 2 Protect Plus Term Plan
• Age group – 18 to 65
• Maturity period – up to 85 years
• Sum Assurance – the minimum is Rs.100000/- and maximum no limits.
• Riders – comes with add-on benefits.
• Claim Settlemnt Ratio: have catered to 97.8% of claims
• Premium payments – the minimum is Rs.9000/- and the maximum is Rs. 11000/- (excluding taxes).

SBI

• Plan Name – SBI Life eShield Term Insurance Plan
• Age group – 18 to 65
• Maturity period – up to 80 years
• Sum Assured – the minimum is Rs.30,00,000/- and maximum no limits.
• Riders – comes with add on benefit.
• Claim Settlement Ratio: have catered to 96.76% of claims
• Premium payments – the minimum is Rs.9000/- and the maximum is Rs. 12000/- (excluding taxes).

TATA

• Plan Name – Tata AIA Life I Raksha Supreme Online Term Insurance Plan
• Age group – 18 to 70
• Maturity period – up to 80 years
• Sum Assured – the minimum is Rs.75 Lakhs and maximum no limits.
• Riders – Not available.
• Claim settlement Ratio: have catered to 98% of claims
• Premium payment – the minimum is Rs.8000/- (excluding taxes).

Aditya Birla

• Plan Name – Adhitya Birla Sun Life DigiShield Plan
• Age group – 18 to 65
• Maturity period – up to 85 years
• Sum assuraed – minimum is Rs.30 lakhs and maximum no limits.
• Riders – comes with add on benefit.
• Claim settlement Ratio: have catered to 96.38% of claims
• Premium payment – the minimum is Rs.8000/- and the maximum is Rs. 15000/- (excluding taxes).

How to Choose a Term Plan Online in 2020?

The most important reason to choose a term plan over other insurance plans is that Terms Plans are very affordable and best suit a customer’s needs.

Coming to Term plan one can choose or decides which term plans to choose as term plans differ from individual to individual.

Whilst choosing the term plan one needs to note the following

• Liabilities: can come from different sources such as loans or mortgages that are to be paid in time to avoid any penalties or fines. Always consider the time required to pay off your liabilities before choosing a term plan.

• Obligations and Dependents: Considering children as they are dependents there is a great obligation. You need to cover yourself until the children are independent and are not financially dependent on you. In such a scenario you need to be covered with financial security for your family.

Affordability: Considering the duration of the term plan, one needs to be comfortable to pay the premiums. As a general norm, a long term plan will be more expensive than the short term. Check the affordability of the term plan and choose the right plan that will be easily affordable not only today but till the tenure of the term plan.

Get the best life insurance Policy on Future Generali Life Insurance Company.

Life Insurance Plans

Future Generali India Life Insurance Company Limited is a joint venture between three leading groups: Future Group – A leading retailer in India, Generali Group- A global insurance group that features among top 50 largest companies in the world and Industrial Investment Trust Limited (IITL) – A leading investment company.

At Future Generali India Life Insurance Company Limited, our mission is to actively protect and enhance peoples’ lives. With operations spread across 75 branches and a complete range of simplified solutions for the financial security of customers and enterprises, we aim to become the first choice by delivering relevant and accessible insurance solutions.

 

Future Generali Assure Plus

Age at Entry: 3 to 55 years

Policy Term: 15/ 20/ 25 years

Premium Payment: Limited

Premium Payment Frequency: Yearly/ Half-Yearly/ Quarterly/ Monthly

Minimum Premium: Rs 12,000 per annum

Maturity Benefit: Sum Assured plus accrued bonuses and Terminal Bonus (if any)

Death Benefit: Higher of Death Sum Assured plus Accrued Bonuses and Terminal Bonus (if any) or 105% of the total premium paid till date of death

High Sum Assured Discount: Yes

Tax Benefit: Yes

Bonus: Yes

Why Buy This Policy

The plan offers multiple term options to suit your needs. Based on your financial goals, you have the flexibility of paying for a limited period and staying invested for a longer period to reap higher benefits.Get the potential upside on your investments through compounded recessionary bonuses throughout the Policy Term.The policy offers you a life insurance cover that gives your family a lump sum amount as well as the vested bonuses and terminal bonus (if any) in the policy.

 

How It Works

Step 1: Choose the Sum Assured. Depending on Sum Assured you may get discounts on the premium payable.

Step 2: Select the Policy Term and premium payment term.

Step 3: Based on the Sum Assured, your age, the premium payment term, and the Policy Term, you receive a standard benefit illustration along with the premium payable.

Step 4: Fill up the proposal form and pay the premium

Benefits

Maturity Benefit : In case the Life Assured survives till the end of the Policy Term, provided all due premiums have been paid, the Sum Assured plus accrued bonus and Terminal Bonus, (if any) will be payable. The policy terminates on the payment of Maturity Benefit.

Death Benefit : In case of an unfortunate demise of the Life Assured during the Policy Term, provided all due premiums have been paid till the date of death, the benefit payable to the nominee is the higher of:Death Sum Assured plus vested bonus plus Terminal Bonus, if any.105% of total premiums paid (excluding Goods & Services Tax, extra premiums, if any).Where Death Sum Assured is higher of:Sum Assured, or10 times the annualized premium if age of the Life Assured is less than 45 years or 7 times the annualized premium if age of the Life Assured is greater than or equal to 45 years.

Target Group : For the customers who are looking for tax saving life insurance plan that offers flexibility of paying for a limited period and staying invested for a longer period to reap higher benefits with potential upside through bonuses.

Exclusion

Suicide Exclusion: If the life assured commits suicide within one year from the policy commencement date, the policy will be void and only 80% of the premiums paid will be payable as death benefit. If the life assured commits suicide within one year from the revival date of the policy, if revived, the higher of, 80% of the premiums paid till the date of death and surrender value, will be payable as death benefit.

 

Future Generali Triple Anand Advantage

Age at Entry: 7 to 50 years

Policy Term: Premium Payment Term + 5 years

Premium Payment Term: 15 or 20 years

Premium Payment Frequency: Annual, Semi-Annual and Monthly.

Premium: Minimum: Rs 15,000 Maximum: No Limit

Maturity Age: 27 years – 75 years

Minimum Sum Assured:Rs 2,00,000

Why Buy This Policy?

Benefit 1 
Receive a fix amount of money for 5 consecutive years after you finish paying all your premiums

Benefit2
Receive a lump sum when your policy matures. 50% of Sum Assured plus compounded reversionary bonus (if any) plus terminal bonus (if any)

Benefit 3
Receive another lump sum when you turn 80. 100% of Sum Assured, if you survive till 80 years of age. In case of your unfortunate demise before you turn 80, 100% of Sum Assured will be paid to your nominee

How It Works

Step1 : Choose the amount of insurance cover you desire under this policy.

Step2 : Choose the term of your policy i.e. decide the number of years for which you wish to pay the premium i.e. 15 years or 20 years

Step3 : Our sales representative will help you calculate your premium and provide you a customised benefit illustration.

Step4 : Get ready to enjoy triple benefits till you turn 80

Benefits

Survival Benefit:If you have paid all your premiums till the completion of the Premium Payment Term, you will receive 5 annual payouts equal to 10% of your Sum Assured which is called the Survival Benefit. These payouts will begin at the end of the same year in which you paid your last premium.

Maturity Benefit:Once your policy matures, which is 5 years after your premium payment term, you will receive a lump sum payout equal to 50% of the Sum Assured plus any declared Compounded Reversionary bonuses plus any Terminal Bonus, which is called the Maturity Benefit.

Extended Life Cover:Your insurance cover will be active till you turn 80. Once you reach 80 years of age, you will receive another lump sum payment equal to 100% of your Sum Assured which is called Extended Cover Payout. What’s more, In case of your unfortunate demise after maturity but before you turn 80 years, your nominee will receive 100% of your Sum Assured.

Death Benefit during the Policy Term

Death Benefit in this plan secures your family in case of your unfortunate demise during the policy term. The Death Benefit payable shall be higher of: 105% of all the premiums paid(excluding taxes, rider premiums and extra premiums, if any) as on date of death; or Death Sum Assured + Accrued Compounded Reversionary Bonuses (if any) plus Terminal Bonus(if any)

The Death Sum Assured will be the highest of:

Sum Assured

10 times Annualised Premium

Maturity Sum Assured

Absolute amount payable on Death (which is equal to Sum Assured)

The above Death Benefit shall be payable irrespective of any survival benefits paid earlier

The plan terminates after paying the death benefit to the family. In case of death after the Policy Term but before reaching age 80 years, Sum Assured is paid to your Nominee

Compounded Reversionary Bonus: At the end of each financial year the Company may declare a bonus expressed as a percentage of the Sum Assured and all previous bonuses declared. The bonus of each year is added to the Sum Assured and the next year’s bonus is calculated on the enhanced amount.

Your Benefits15 Year PPT20 Year PPT
Regular Payouts10% of Sum Assured every year from end of 15th year till end of 19th policy year.10% of Sum Assured every year from end of 20th year till end of 24th year
Lump Sum Payout50% of Sum Assured + Compounded Reversionary bonuses1 (if any) + Terminal Bonus2(if any) at end of 20th year50% of Sum Assured + Compounded Reversionary bonuses1 (if any) + Terminal Bonus (if any) at end of 25th year
Extended Cover Benefit100% of Sum Assured on turning 80 years or 100% of Sum Assured paid to nominee in case of death before 80 years 

Terminal Bonus: The Company may declare a discretionary terminal bonus which is payable on death or maturity of the plan.Target Group

For the customers who are looking for tax saving life insurance plan that offers triple benefits of Money backs, Lumpsum benefit alongwith potential upside through bonuses and cover till 80 years of age, all in one plan

Future Generali New Saral Anand

Age at Entry: 3 to 50 years

Policy Term: 15 to 20 years

Premium Payment Term: Equal to the Policy Term

Premium Payment Frequency: Annual

Premium:Minimum: Rs 8,000 Subject to minimum Sum Assured of Rs 1,00,000

Maximum: No Limit

Maturity Age:18 to 70 years

Minimum Sum Assured:Rs 1,00,000

 

Why Buy This Policy?

Benefit 1:
Receive a lump sum amount when your polciy matures. The lump sum includes the following: Sum Assured+Compounded Reversionary Bonuses (if any)+Terminal Bonus (if any)

Benefit 2:
Celebrate your 100th birthday in style. Receive another lump sum, an amount equal to the sum assured whne you turn 100. In case of your unfortunate demise after the policy term but before you turn 100, rest assured, this benefit will be paid to your nominee

Benefit 3:
In case of your unfortunate demise during the policy term, your nominee will receive death benefit if your policy is active, provided you have paid all your premium till the date of death.

Benefit 4:
You are elegible to avail of tax benefits as per existing tax laws.

How It Works

Step1 : Choose the amount of insurance cover you desire under this policy.

Step2 : Choose the term of your policy i.e. decide the number of years for which you wish to pay the premium. You can choose a period between 15 to 20 years.

Step3 : Our Sales Representative will help you calculate your premium and provide you a customised benefit illustration – a detailed break-up of what you pay and what you get.

Step4 : Get ready to enjoy the benefits till you turn 100

Death Benefit during the Policy Term:

Death Benefit in this plan secures your family in case of your unfortunate demise during the Policy Term. The Death Benefit payable shall be higher of: 105% of all the premiums paid as on date of death; orDeath Sum Assured + Accrued Compounded Reversionary Bonuses (if any) plus Terminal Bonus (if any)

Death Sum Assured is defined as Higher of:

Sum Assured

10 times Annualised Premium

Maturity Sum Assured, which is equal to sum assured

Absolute amount payable on death (which is equal to Sum Assured)

Note : The premiums above exclude taxes, rider premiums and extra premiums, if any as these are collected separately in addition to the regular premium for this product.

The plan will terminate once the Death Benefit is paid.

Compounded Reversionary Bonus: At the end of each financial year, the Company may declare a bonus expressed as a percentage of the Sum Assured and all previous bonuses declared. The bonus of each year is added to the Sum Assured and the next year’s bonus is calculated on the enhanced amount.

Terminal Bonus : The Company may declare a discretionary terminal bonus which is payable on death or maturity of the plan.

Suicide Exclusion:If the Life Assured commits suicide within one year from the plan inception date, only 80% of the premiums paid will be payable as Death Benefit. If the Life Assured commits suicide within one year from the revival date of the plan, if revived, the higher of, 80% of the premiums paid till the date of death and surrender value, will be payable as Death Benefit

Target Group
For the customers who are looking for tax saving whole life insurance plan that offers dual benefits of Lumpsum benefit alongwith potential upside through bonuses and cover till 100 years of age.

Future Generali New Assure Plus

Entry Age : 3 years – 55 years

Maturity Age : 18 years – 70 years

Policy Term10 to 30 years

Premium Payment Term : 5 years – 30 years

Sum Assured : Minimum – Rs1,00,000 Maximum – No Limit

Premium Payment Frequency : Yearly, Half Yearly, Quarterly & Monthly

Premium amount : Minimum Annualized Premium- Rs10,000 subject to Minimum SA of Rs1,00,000

Maximum Premium – No Limit

Why Buy

Flexibility to choose any combination of Policy Term and Premium Payment Term based on your financial goals.

Opportunity to enhance your Maturity Payout by way of Bonuses.

Option to choose between 2 Death Benefit Payout Options.

Tax Benefits under section 80C and 10(10D) as per the prevailing tax laws

How It Works

Step1: Choose the Death Benefit option and amount of insurance cover you desire under this policy.

Step2: Choose the Policy Term and Premium Payment Term as per your financial goal.

Step3: Our sales representative will help you calculate your Premium and provide you a customised Benefit

BENEFITS

Maturity Benefit : 
Once your policy matures at the end of the Policy Term and if you have paid all your due premiums, you will receive Maturity Benefit as per the chosen option-

Option 1
Guaranteed Maturity Sum Assured equal to Sum Assured plus Vested Compound Reversionary Bonuses, if any, plus Terminal Bonus, if any, shall be paid

Option 2:
Guaranteed Maturity Sum Assured equal to Sum Assured plus Vested Compound Reversionary Bonuses, if any, plus Terminal Bonus, if any, shall be paid

Even in case of death of the Life Assured, the Maturity Benefit will be payable if all Installment premiums due till date of death of the Life Assured have been received in full.

Death Benefit during the Policy Term:

Death Benefit in this plan secures your family in case of your unfortunate demise during the Policy Term. You have the option to choose between two Death Benefit Payout options

Option 1 – Lumpsum Death Benefit Payout: Under this option, Death Benefit payable to your nominee shall be higher of: 105% of all the premiums paid (excluding taxes, rider premiums and extra premiums, if any) as on date of death; and Death Sum Assured plus vested Compound Reversionary Bonuses, if any plus Terminal Bonus, if any.

The Policy will terminate on payment of Death Benefit under Option 1

Option 2 – Lumpsum Death Benefit with Maturity Payout: Under this option, two payouts will be made to your nominee.

Lumpsum Death Payout: The first payout which is the Lumpsum Death Payout will be paid at the time of death. Death Benefit payable to your nominee shall be higher of: 105% of all the premiums paid (excluding taxes, rider premiums and extra premiums, if any) as on date of death; and Death Sum Assured

Maturity payout : The second payout equal to Guaranteed Maturity Sum Assured plus Reversionary Bonus (if any) plus Terminal Bonus (if any) will be paid at the time of Maturity of the Policy i.e. at the end of the Policy Term. The payout at the time of maturity is made, because the policy continues after the death of the insured person. No further premiums are payable under the policy after the death of the Life Assured. The policy continues to participate in profits even after the death of the Life Assured. Nominee shall not have any right to avail loan, assignment and surrender as available to Policyholder under the Policy.

Death Sum Assured is defined as Higher of:

10 times Annualised Premium

Guaranteed Maturity Sum Assured, which is equal to sum assured

Absolute Amount payable on death, which is equal to sum assured

 Guaranteed Benefit (Rs)Variable Compound Reversionary Bonus, if any (Rs)Total Benefit (Rs)
At 8%7,00,0006,92,85213,92,852
At 4%7,00,0001,54,1338,54,133

Please Note: Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your life insurance company. These assumed rates of return 8% and 4%, are not guaranteed and they are not upper or lower limits of what you might get back as the value of your policy is dependent on a number of factors including future investment performance.

Compounded Reversionary Bonus: At the end of each financial year, the Company may declare a bonus expressed as a percentage of the Sum Assured and all previous bonuses declared. The bonus of each year is added to the Sum Assured and the next year’s bonus is calculated on the enhanced amount.

Terminal Bonus: The Company may declare a terminal bonus which may be payable on death or on maturity of the plan.

Sum Assured/Premium Payment Term5*6-10*11-15*16-20*21-30*
1,00,000-1,99,999NilNilNilNilNil
2,00,000-4,99,99964100
5,00,000 and above118532

*Discount on premium per Rs.1000 Sum Assured

 

EXCLUSION

Suicide exclusion : If the Life Assured commits suicide within one year from the plan inception date, only 80% of the premiums paid will be payable as Death Benefit. If the Life Assured commits suicide within one year from the revival date of the plan, if revived, the higher of, 80% of the premiums paid till the date of death or surrender value, will be payable as Death Benefit.

 

FREE LOOK CANCELLATION:

In case you disagree with any of the terms and conditions of the policy, you can return the policy to the Company within 15 days (30 days if the policy is sold through the Distance Marketing Mode) of its receipt for cancellation, stating your objections. Future Generali will refund the policy premium after the deduction of proportionate risk premium for the period of cover, stamp duty charges, cost of medical examination, if any.

Note : Distance Marketing means insurance solicitation by way of telephone calling/ Short Messaging Service (SMS)/other electronic modes like e-mail, internet & Interactive Television (DTH)/direct mail/ newspaper and magazine inserts or any other means of communication other than that in person. Grace Period

You get a grace period of 30 days for Yearly, Half yearly and Quarterly Premium Payment Frequency and 15 days for Monthly Premium Payment Frequency from the premium due date to pay your missed premium. During these days, you will continue to be covered and be entitled to receive all the benefits subject to deduction of due premiums. Flexibility to make changes We allow you to make change in the mode of premium payment under the policy which shall be applicable from the next policy anniversary.

Loan
You may avail of a loan once the policy has acquired surrender value. The maximum amount of loan that can be availed is up to 85% of the Surrender Value. For more details, please refer the policy document. The current interest rate for the financial year 2017-18 applicable on loans is 9% per annum compounded half yearly. Please contact our branch office or call us to know the current applicable interest rate.

Tax Benefits
Premium(s) paid are eligible for tax benefit as may be available under the provisions of Section(s) 80C, 80 CCC (1), 80D, 10(10D) as applicable. For further details, consult your tax advisor. Tax benefits are subject to change from time to time.

Get the best life insurance Policy on Bharti AXA Life Insurance Company.

Bharti AXA Life Insurance

TAX SAVING PLANS

Bharti AXA Super Series

A plan that offers a lump sum payout at the end of the premium payment term followed by increasing guaranteed payouts until Maturity and a lump sum payout at Maturity.

5 Reasons to Buy

A choice between the Super 6 and Super 10 option depending on desired investment term and returns.

Get cash pay-outs every year from the end of the premium payment term till policy maturity.

Receive Maturity benefit along with a Guaranteed Maturity Addition.

Benefit of attractive high sum assured rebate.

Enjoy Tax Benefits on the Premiums paid and benefits received.

How it works?

  • 35 year old Sahil chooses our Bharti AXA Life Super Series with the Super 10 option. The Premium Payment Term is 10 years and Policy Term is 20 years for a Sum Assured of Rs. 2, 00,000. He starts paying Rs. 48,598 as the annualised premium each year.

Who can buy?

Premium Payment TermPolicy TermMinimum AgeMaximum Age
5 years10 years8 years55 years
10 years10 years8 years55 years
12 years20 years0 years50 years
15 years15 years3 years55 years
20 years20 years0 years50 years
25 years25 years0 years50 years
30 years30 years0 years45 years
35 years35 years0 years45 years

There are two kinds of term insurance Plans:

Annual Renewable Term Insurance Plan which gives cover for one year at a time and then you renew it annually. These plans usually have the lowest annual premium to start but the premium rises as you age.

Level Premium Term Insurance Plan which you buy for a specific multiyear period such as 5, 10 or 20 years. This plan lets you lock in the premium for that period; the premium never to changes, from the first year to the last.

More Details

1. In case the Life Insured is a minor at the time of the policy issuance, the ownership of the policy will vest in the Life Insured on attainment of 18 years of age, age last birthday.
2. Maturity Benefit
On Maturity Date, ‘Sum Assured on Maturity’ will be paid to the Policyholder, subject to the policy being in force. In case the Life Insured is a minor at the time of policy issuance, the ownership of the policy will vest in the Life Insured on attainment of 18 years of age, age last birthday.
3. Guaranteed Maturity Addition
In addition, on Maturity Date, a Guaranteed Maturity Addition of 30% of the ‘Sum Assured on Maturity’ will be payable to the Policyholder, subject to the Policy being in force.
In case of the life insured being a minor at the time of policy issuance, the ownership of the policy will vest in the life insured on attainment of age 18 years, age last birthday.
4. Death Benefit
In the event of death of the Life Insured during the Policy Term, subject to the policy being in force, the Death Benefit payable shall be equal to the Sum Assured on death.
The Sum Assured on death shall be higher of the following:-
a) 11 times Annualized Premium* for Super 6 Option and 15 times Annualized Premium* for Super 10 Option
b) 105% of all premiums paid as on date of death (excluding any underwriting extra).
c) ‘Sum Assured on Maturity’
*Annualised Premium does not include modal factors, any underwriting extra.
5. Tax Benefits
You can avail the tax benefits on the premiums paid and on the benefits received subject to the prevailing provisions under Section 80C and Section 10 (10D) respectively of the Income Tax Act, 1961. The tax benefits are subject to change as per change in tax laws from time to time.

Bharti AXA Samriddhi

4 Reasons to buy

Enjoy a guaranteed lump sum benefit at Maturity.

Potential to receive additional earnings through bonuses.

Choose from eight different Premium payment Terms

Enjoy Tax benefits on the Premiums paid and pay-out benefits received.

How it works?

LET’S TAKE A LOOK AT THIS CASE STUDY

35 year old Abhay chooses our Bharti AXA Life Samriddhi to meet his retirement needs and pays 50,000 as annual premium for 25 years for a Sum Assured of 13,96,258. He enjoys a life cover for 25 years.
1st policy year start paying an annual premium of Rs 50,000
25th policy year he continues to pay an annual premium of Rs 50,000
End of 25th Policy year He receives a tax-free maturity benefit of Rs. 17,41,832 (Sum Assured Rs. 13,96,258 + Bonus# Rs. 3,45,574) @ 4% p.a.
At maturity he receives a tax-free maturity benefit of Rs. 27,59,355 (Sum Assured Rs. 13,96,258 + Bonus# Rs. 13,63,097) @ 8% p.a.

Who can buy?

Premium Payment TermPolicy TermMinimum AgeMaximum Age
5 years10 years8 years55 years
10 years10 years8 years55 years
12 years20 years0 years50 years
15 years15 years3 years55 years
20 years20 years0 years50 years
25 years25 years0 years50 years
30 years30 years0 years45 years
35 years35 years0 years45 years

More Details

Bharti AXA Life Samriddhi – a Non-linked, Participating, Endowment plan, that offers protection for your family’s financial future by providing an opportunity to participate in the profits of participating fund of the company by way of Non-Guaranteed bonuses payable to you at the time of maturity or in case of any eventuality.
Life Insurance Cover for your family
In case of an unfortunate event during the Policy Term, the sum of the following benefits will be payable to the Nominee, subject to the Policy being in force:

  • Basic Life Insurance Cover
  • Accrued Non-Guaranteed Annual Simple Reversionary Bonus
  • Non-Guaranteed Terminal Bonus

The Basic Life insurance cover will be the higher of:

  • Sum Assured on Maturity or
  • 11 times Annualised Premium

However, the death benefit payable shall never be lower than 105% of all premiums paid (excluding any additional charges as levied by the Company over and above the standard premium rates).

Receive Lump sum Payout at Maturity

At maturity of the policy (in case the Life Insured survives till the maturity of the Policy and all premiums are duly paid), you receive:

  • 100% of Sum Assured on Maturity
  • Accrued Non-Guaranteed Annual Simple Reversionary Bonus
  • Non Guaranteed Terminal Bonus

Potential to Receive Additional Earnings with Bonuses

The policy participates in the distribution of surplus or profits that may be declared by the Company. Non-Guaranteed Annual Simple Reversionary Bonus gets accrued to the policy at the end of each year provided all due premiums are paid. This accrued Non-Guaranteed Annual Simple Reversionary Bonus is paid out at the time of Maturity or on loss of life of Life Insured, whichever is earlier. The company may also declare Non-Guaranteed Terminal Bonus which is also payable along with Maturity Benefit or Death Benefit.

Eight Premium Payment Term options to choose from

You can choose from the following Premium Payment term options:

  • Limited Premium Payment Term option
  • Premium Payment Term of 5 or 12 Years with Policy Term of 10 and 20 years respectively
  • Regular Premium Payment Term option
  • Premium Payment Term options available are 10, 15, 20, 25, 30 and 35 years

Save Tax

You can avail the tax benefits on the premiums paid (subject to a maximum of rupee 1,50,000) and on the benefits received subject to the prevailing provisions under Section 80C and Section 10 (10D) respectively of the Income Tax Act, 1961. The tax benefits are subject to change as per change in tax laws from time to time

Bharti AXA Life Elite Advantage

4 Reasons to buy

Enjoy guaranteed benefits at regular intervals.

Enjoy guaranteed lump sum benefit at Maturity.

Different Premium payment Terms to choose from.

Receive Tax benefits on the Premiums paid and pay-out benefits received

How it works?

LET’S TAKE A LOOK AT THIS CASE STUDY
35 year old Mohan chooses our Bharti AXA Life Elite Advantage to meet his future expenses such as his daughter’s higher education, marriage expenses etc., for a Sum Assured of Rs. 12,29,256. He pays an annual premium of Rs. 1,00,000 for 12 years.
1st Year Policy- Starts paying an annual premium of Rs. 1,00,000 every year
12th Policy Year Finishes paying an annual premium of Rs. 1,00,000
End of 12th Policy Year He receives aguaranteed pay-out of Rs. 1,16,779 annually (9.5% of sum assured at maturity)
19th Policy year He continues to receive the maturity benefit inregular instalmentsfrom the end of the policy term till the end of the 19th year.
20th Policy Year He receives a lump sum amount of Rs. 12,29,256 at the end of the 20th year.

Who can buy?

ParameterEligibility Criteria
Minimum age at entry (age last birthday)8 years for 10 years Policy Term
6 years for 12 year Policy Term
The risk coverage will start immediately on policy commencement for all lives including minors
Maximum age at entry (age last birthday)65 years
Maximum Maturity Age(age last birthday)75 years for 10 years Policy Term
77 years for 12 years Policy Term
Minimum Sum AssuredDepends on the minimum Premium
Minimum Annualized PremiumRs. 24,000 for 5 years Premium payment Term
Rs. 15,000 for 7 years Premium payment Term
Rs. 12,000 for 12 years Premium payment Term
Policy Term10 and 12 years
Premium Payment Term5 years for 10 years Policy Term
7/12 years for 12 years Policy Term
Premium Payment ModesAnnual, Semi Annual, Quarterly*, Monthly*
Maturity payout PeriodEnd of 10th year till end of 20th year for 10 years Policy Term
End of 12th year till end of 20th year for 12 years Policy Term
Guaranteed Payment ModesAnnual, Semi Annual, Quarterly

More Details

A plan that offers Guaranteed Payouts# of 8.5% to 9.5% from the end of the policy term and 100% Sum Assured at Maturity*. It also provides comprehensive protection until the end of the policy term. With two benefits in one plan, now you don’t have to compromise anymore.

Basic Life Insurance Cover:
Get Higher of Sum Assured on Maturity or 11 times the base annualized Premium or 105% of premiums paid till date of death, in case of an unfortunate event of death of the life insured.

Maturity benefit:
In case the Life Insured survives till the maturity of the Policy and all premiums are duly paid, then the benefits as mentioned below will be payable to the Policyholder

  • Guaranteed Payout: A percentage of Sum Assured on Maturity is paid during the Maturity payout period.
  • Sum Assured: 100% of Sum Assured on Maturity is paid at the end of 20th year

The percentage of Guaranteed Payout depends upon the Policy Term, Premium Payment Term and the Premium Amount as mentioned below.

Premium Payment TermGuaranteed Payout (End of year)Annualised Premium(Rs.)Guaranteed Payout as % of 
Sum Assured on Maturity
5 yearsEnd of 10th to end of 19 year24,000-49,9998.5%
50,000-99,9999%
1,00,000 & above9.5%
7 yearsEnd of 12th to end of 19 year18,000-49,9998.5%
50,000-99,9999%
1,00,000 & above9.5%
12 yearsEnd of 12th to end of 19 year12,000-49,9998.5%
50,000-99,9999%
1,00,000 & above9.5%

Bharti AXA Life Aajeevan Sampatti+

4 Reasons to buy

When you need a whole life cover up to age 100.

Receive annual guaranteed benefit from end of 10th policy year till Maturity.

Potential of upside bonusfrom end of 6th policy year.

Enjoy Tax benefits on the premiums paid and pay-out benefits received.

How it works?

LET’S TAKE A LOOK AT THIS CASE STUDY
30 year old Rahul chooses our Bharti AXA Life Aajeevan Sampatti+ for a Sum Assured of Rs. 5,00,000 with a coverage until he turns a 100 years. He pays an annual premium of Rs. 1,07,310 for 10 years.
1st policy year Starts paying an annualpremium of Rs. 1,07,310
6th Policy Year Non-guaranteed cash bonuses are paid until maturity or death
10th Policy Year Finishes paying annual premium
11th Policy Year Guaranteed annual payouts of Rs. 27,500 begins
70th Policy Year If Rahul survives until the age of 100, he will receive a maturity amount of Rs. 5,00,000

Who can buy?

ParameterEligibility Criteria
Minimum age at entry (age last birthday)91 days
Maximum age at entry (age last birthday)60 years for ‘To age 100’ policy term
50 years for ‘To age 85’ policy term
Maximum Maturity Age(age last birthday)100 or 85 years depending on the policy term chosen
Premium payment term options available10 years & 15 years
Minimum Sum Assured on MaturityRs. 50,000
Minimum PremiumWill depend on the minimum Sum Assured on Maturity
Premium Payment ModesAnnual, Semi Annual, Quarterly*, Monthly*

More Details

Guaranteed Annual Pay-out:
Guaranteed Payout will be paid to you starting from the end of 10th policy year till maturity or the Death of Life Insured whichever is earlier, subject to the policy being in force. The Guaranteed Annual Payout percentage depends on the Policy term option chosen and is mentioned below.

Policy TermGuaranteed Annual Payout Percentage
To Age 1005.5% of Sum Assured on Maturity
To Age 856% of Sum Assured on Maturity

Life Insurance benefit:
Your coverage under the Policy will continue until you reach the age of 100 or 85 years as per the Policy term selected. In case of unfortunate event of death of Life insured (applicable even in case of minor lives), subject to the policy being in force the Sum Assured payable on death will be higher of:

  • Sum Assured on Maturity OR
  • 11 times Annualised Base Premium OR
  • 105% of premiums paid

The death benefit payable shall be higher of Sum Assured payable on death or 105% of all premiums paid (excluding an underwriting extra premium). In case of death during the Grace period, the Death Benefit after deducting the unpaid due premium shall be paid. In case of death after the policy is converted into paid-up the Paid up value on death will be paid to the nominee. In case the policy is Lapsed, no Death benefit is payable. The Annualised Premium is the sum of premiums payable in a policy year and excludes modal factors and underwriting extra (if applicable)

Maturity Benefit:

Sum Assured on Maturity is paid if the Life Insured survives till the maturity of the Policy and the policy is in force.

Discount:

On premiums is available on opting for Sum Assured of Rs 4,00,000 and above

Tax benefits:

For premiums paid under Sec 80C and Sec 10 (10D) and benefits received, are as per the prevailing tax laws which are subject to changes with change in tax laws.

Bharti AXA Life Secure Saving Plan

4 Reasons to buy

Enjoy a lump sum benefit on Maturity.

Receive guaranteed additions as high as 10% p.a. available as a percentage of cumulative premiums.

Life cover along with guaranteed benefits.

Receive Tax benefits on the premiums paid and pay-out benefits received.

How it works?

35 year old Saurabh chooses our Bharti AXA Life Secure Savings Plan to meet his future expenses. He pays an annual premium of Rs. 20,000 for 20 years for a Sum Assured of Rs. 2,30,468. He gets a guaranteed 10% addition of each year’s cumulative base premium.

1st Policy Year Starts paying an annual base premium of Rs. 20,000 and receives Rs. 2000 as guaranteed additions (10% of cumulative base premium)

10th Policy year Starts paying an annual base premium of Rs. 20,000 and receives Rs. 2000 as guaranteed additions (10% of cumulative base premium)

20th policy year Continues paying base premium of Rs. 20,000. The cumulative premium is now Rs. 4,00,000 with Rs. 40,000 as guaranteed additions (10% of cumulative base premium)

End of 20th Policy Year Gets maturity benefit of Rs. 6,50,468 (100% Sum Assured i.e. Rs. 2,30,468 + guaranteed additions of Rs. 4,20,000)

Who can buy?

35 year old Saurabh chooses our Bharti AXA Life Secure Savings Plan to meet his future expenses. He pays an annual premium of Rs. 20,000 for 20 years for a Sum Assured of Rs. 2,30,468. He gets a guaranteed 10% addition of each year’s cumulative base premium.

1st Policy Year Starts paying an annual base premium of Rs. 20,000 and receives Rs. 2000 as guaranteed additions (10% of cumulative base premium)

10th Policy year Starts paying an annual base premium of Rs. 20,000 and receives Rs. 2000 as guaranteed additions (10% of cumulative base premium)

20th policy year Continues paying base premium of Rs. 20,000. The cumulative premium is now Rs. 4,00,000 with Rs. 40,000 as guaranteed additions (10% of cumulative base premium)

End of 20th Policy Year Gets maturity benefit of Rs. 6,50,468 (100% Sum Assured i.e. Rs. 2,30,468 + guaranteed additions of Rs. 4,20,000)

Who can buy?

ParameterEligibility Criteria
Minimum age at entry (age last birthday)3 years for 15 years Policy term 
0 years for 20 years Policy term
Maximum age at entry (age last birthday)55 years for 15 years Policy term
50 years for 20 years Policy term

More Details

What you will get?

A plan that provides the twin benefit of comprehensive protection and guaranteed additions of up to 10%

Guaranteed additions of up to 10% at the end of every year, payable on death of Life Insured or at maturity

Sum Assured along with Guaranteed additions is payable at maturity of the policy

Higher of 100% of Sum Assured plus guaranteed additions on the premiums paid or 105% of premiums paid till date of death (excluding any underwriting extra premium) or 10 times annualized premium is payable on the death of the Life Insured

You receive tax benefits under section 80C and 10(10D)

Why choose this plan?

You want to save regularly to meet any future financial goal

You want protection for your family in case of an unfortunate event

Bharti AXA Life Monthly Income Plan

4 Reasons to buy

Benefits in the form of Monthly Income after completion of Premium payment term.

Potential of upside bonuses.

Enjoy Tax benefits on the Premiums paid and pay-out benefits received.

Ideal for retirement planning or for receiving additional Monthly income.

How it works?

1st Policy Year Starts paying an annual premium of Rs. 35,715 7th Policy Year Finishes paying an annual premium of Rs. 35,715 8th Policy Year He receives a monthly income of Rs. 3,000 for 8 years (In case of survival) 15th Policy Year He receives a vested non-guaranteed benefit of Rs. 80,784 at 8% gross rate of return (on maturity)

He receives a vested non-guaranteed benefit of Rs. 9,504 at 4% gross rate of return (on maturity)

Who can buy?

ParameterEligibility Criteria
Minimum age at entry (age last birthday)3 years for 15 years Policy term 
0 years for 20 and 30 year Policy Term
Maximum age at entry (age last birthday)65 years for 15 year Policy Term
60 years for 20 year Policy Term
50 years for 30 year Policy Term
Maximum Maturity Age80 years
Minimum Monthly IncomeRs. 2000 for 15 year Policy Term
Rs. 1750 for 20 year Policy Term
Rs. 750 for 30 year Policy Term
Minimum Sum AssuredRs. 192,000 for 15 year Policy Term
Rs. 210,000 for 20 year Policy Term
Rs. 135,000 for 30 year Policy Term
Minimum PremiumDepends on the minimum Monthly income
Policy Term15, 20 and 30 years
Premium Payment Term7, 10 and 15 years for 15, 20 and 30 years Policy Term respectively
Premium Payment ModesAnnual, Semi annual, Quarterly* & Monthly*

More Details

A limited premium payment traditional insurance plan ensuring a guaranteed monthly income that helps to fulfill your loved ones’ desires while protecting them in case of an unfortunate event.

Guaranteed Monthly Income which is Tax-Free#:
You start receiving Guaranteed Monthly Income after the completion of the Premium Payment Term, until Maturity, provided the policy is in force. This income is tax-free#.You have the flexibility to choose the Monthly Income you wish to receive, which decides your premium amount.
#Subject to the prevailing provisions of section 10(10D) of the Income-tax Act, 1961

Potential Upside through Bonuses:
Non Guaranteed Simple Annual Reversionary Bonuses get accrued to the policy from the end of 1st policy year and get paid out on Maturity or on death. You may also receive non guaranteed terminal bonus either on death or maturity.

Life Insurance Benefit:
In case of the unfortunate death of the Life Insured, a percentage of Monthly Income is payable to the nominee from the next policy month onwards and continues for the next 8, 10 or 15 years depending on the Policy Term option chosen at inception of the policy. This payout is made over and above the Monthly Income payouts made before the death of the Life Insured.
The accrued Non-Guaranteed Annual Reversionary bonuses and Non-Guaranteed Terminal bonus are paid out on death as a lump sum along with the first monthly income Instalment.

Policy TermDeath benefit Period (Mths)Death Benefit
15 years96165% of Monthly Income for Ages <45
150% of Monthly Income for Ages >=45
20 years120140% of Monthly Income for all ages
30 years180

110% of Monthly Income for all ages

The accrued Non-Guaranteed Annual Reversionary bonuses and Non-Guaranteed Terminal bonus are paid out on death as a lump sum along with the first monthly income Instalment.

Premium Discount

Policy TermMonthly IncomePremium Rate Discount
20 and 30 yearsFor monthly income >= Rs. 3,0002% on Premium

Tax benefits:
For Premiums paid and benefits received, are as per the prevailing tax laws which are subject to changes.

Bharti AXA Life Secure Income Plan

4 Reasons to buy

Limited pay guaranteed income plan.

Guaranteed additions of up to 10% (depending on plan term chosen) regularly added during the plan term.

Guaranteed benefit at Maturity.

Enjoy Tax benefits on the Premiums paid and pay-out benefits received.

How it works?

LET’S TAKE A LOOK AT THIS CASE STUDY
30 year old Gaurav chooses our Bharti AXA Life Secure Income Plan with a policy term of 20 years as he wishes to receive a guaranteed monthly income along with a guaranteed amount at maturity. He pays an annual premium of Rs. 50,000 for 10 years for a Sum Assured of Rs. 3,11,061.
1st Policy year Starts paying an annual premium of Rs. 50,000
10th Policy Year Finishes paying an annual premium
11th Policy Year He starts to receive an annual income of Rs. 24,885
20TH Policy Year He continues to receive an annual income of Rs. 24,885 till the 20th year
End of 20th Policy Year He receives a guaranteed maturity amount of Rs. 6,22,122

Who can buy?

ParameterEligibility Criteria
Minimum age at entry3 years for 15 years Policy Term
1 year for 17 years Policy Term
0 year for 20 years Policy Term
Maximum age at entry65 years for 15 years Policy Term
63 years for 17 years Policy Term
60 years for 20 years Policy Term
Maximum Maturity Age80 years
Minimum Premium Excl. ST & CessFor 15 year Policy Term
  • Rs. 30,000 for Annual mode
  • Rs. 15,600 for semi-annual mode
  • Rs. 8,100 for quarterly mode
  • Rs. 2,700 for monthly mode
For 17 year Policy Term
  • Rs. 24,000 for Annual mode
  • Rs. 12,480 for semi-annual mode
  • Rs. 6,480 for quarterly mode
  • Rs. 2,160 for monthly mode
For 20 year Policy Term
  • Rs. 18,000 for Annual mode
  • Rs. 9,360 for semi-annual mode
  • Rs. 4,860 for quarterly mode
  • Rs. 1,620 for monthly mode
Policy Term15, 17 and 20 years
Premium Payment Term5, 7 and 10 years for 15, 17 and 20 years Policy Term respectively
Premium Payment ModesAnnual, Semi annual, Quarterly* & Monthly*

More Details

Guaranteed Monthly Income:
Start receiving Guaranteed Income after the completion of the Premium Payment Term, until Maturity, provided the policy is in force and all due premiums have been paid. This income will be tax-free#.

#Subject to the prevailing provisions of section 10(10D) of the Income-tax Act, 1961

Policy TermPremium Payment TermGuaranteed Income*Death Benefit
15 years5 years8% of Sum Assured p.a.10 years (120 months)
17 years7 years
20 years10 years

* The Guaranteed Income commences after the end of Premium Payment Term and will be paid out on a monthly basis.

Maturity Benefit:
A fixed guaranteed addition, declared as a percentage of Sum Assured gets added to your policy each year after the completion of premium payment term, until maturity of the policy. Thus, Sum Assured plus Guaranteed Additions get paid out on Maturity.

Policy TermPremium Payment TermAnnual Guaranteed Addition (applicable after Premium payment term)
15 years5 years7% of sum assured
17 years7 years8.5% of sum assured
20 years10 years10% of sum assured

Death Benefit:
In case of the unfortunate death of the Life Insured, a percentage of Monthly Income is payable to the nominee. This payout is made over and above the Monthly Income payouts made before the death of the Life Insured. The Death benefit depends upon the age and the policy term chosen.

Policy TermDeath Benefit
15 yearsHigher of (Sum Assured plus Guaranteed Additions accrued till date of death) or (105% of Premiums paid) or (11 times Annual Base Premium)
17 yearsHigher of (Sum Assured plus Guaranteed Additions accrued till date of death) or (105% of Premiums paid) or (11 times Annual Base Premium)
20 yearsHigher of (Sum Assured plus Guaranteed Additions accrued till date of death) or (105% of Premiums paid) or (13 times Annual Base Premium)

Tax benefits:
For premiums paid and benefits received, are as per the prevailing tax laws which are subject to changes with change in tax laws.

Bharti AXA Life Flexi Save Plan

4 Reasons to buy

Flexibility of withdrawing your savings anytime during the Flexi benefit period bymodifying your Policy Term while the Policy is in force.

Potential upside through bonuses.

Flexibility of choosing between 3 Premium payment Terms as per your financial convenience.

Enjoy Tax benefits on the Premiums paid and pay-out benefits received.

How it works?

LET’S TAKE A LOOK AT THIS CASE STUDY
35 year old Siddharth chooses our Bharti AXA Life Flexi Save with a policy term of 20 years as he wishes to receive guaranteed benefits along with the flexibility of withdrawing money any time during the flexi benefit pay-out period. He pays an annual premium of Rs. 30,000 for 5 years for a Sum Assured of Rs. 1,69,943.
1st Policy Year Starts paying an annual premium of Rs. 30,000*
10th Policy Year Flexi Benefit period from 10th to 20th Policy year. At any time, he can decide topre-pone the maturity benefit and avail the full benefits due i.e. 100% Sum Assured plus accrued bonus till date plus terminal bonus, if any.
20th Policy Year If Siddharth survives, he receives Rs. 3,02,243 at maturity (Sum Assured ) Rs. 1,69,943 along with accrued bonuses + terminal bonus at maturity @8% of Rs. 1,32,300)

Who can buy?

Parameter/ PPT5 Pay7 Pay12 Pay
Policy Term20 years25 years30 years
Min age at entry8 years3 years0 years
Max age at entry65 years60 years55 years
Max age at maturity85 years85 years85 years
Flexi benefit periodAny time between 10 to 20 yearsAny time between 15 to 25 yearsAny time between 20 to 30 years

More Details

A plan that offers you the choice to withdraw your savings when you want to and helps you achieve your goals at all life stages. 

Flexi Benefit Period:
Anytime during the Flexi benefit period, you can decide to with draw your savings and avail the full benefits due in the policy

Premium Payment Term5 Pay7 Pay12 Pay
Flexi Benefit PeriodAny time between 10 to 20 yearsAny time between 15 to 25 yearsAny time between 20 to 30 years

Bonus:
Non Guaranteed Simple reversionary bonus, starting from the first policy year, paid out along with Maturity benefit or Death benefit (whichever is earlier) along with terminal bonus (if any)

Basic Life Insurance benefit:
In case of an unfortunate event of death of the life insured, Nominee to receive:

  • Higher of Base Sum Assured or
  • 105% of premiums paid or
  • a multiple of the Annual Base Premium,
  • plus non guaranteed accrued bonus plus terminal bonus (if any).

Maturity Benefit:

On maturity of the policy, you receive:

  • 100% of your Sum Assured
  • Non guaranteed accrued bonus and terminal bonus (if any).

Tax Benefit:

You can avail the tax benefits on the premiums paid under the Income Tax Act, 1961.

Bharti AXA Life Invest Once Plan

4 Reasons to buy

Single Premium plan.

Guaranteed additions as high as 9% that are paid out at Maturity providing a lump sum benefit.

Flexibility to choose between two plan terms; 5 and 10 years.

Receive Tax benefits on the Premiums paid and pay-out benefits received.

How it works?

LET’S TAKE A LOOK AT THIS CASE STUDY
25 year old Kartik chooses our Bharti AXA Life Invest Once with a policy term of 10 years as he wants to invest his money in a plan which will be financially beneficial to him in the long run. He chooses the tax saver option and decides to opt for life insurance benefit. He pays a one-time premium of Rs. 5,00,000 for a Sum Assured of Rs. 6,99,996.
1st Policy Year He pays a one-time premium of Rs. 5,00,000.
10th Policy Year In case he survives, he receives the Sum Assured of Rs. 9,50,000 at maturity.

Who can buy?

ParameterEligibility
Minimum age at entry (age last birthday)13 years for 5 year term
8 years for 10 years term
Maximum age at entry (age last birthday)55 years
Maximum Maturity Age (age last birthday)60 years for 5 year term
65 years for 10 years term
Minimum Sum AssuredDepends on the minimum premium
Minimum Annual Base Premium*Rs. 5,000
Maximum Annual Base Premium*No limit
Policy Term5 years and 10 years
Premium Payment TermSingle Premium

* Excluding applicable taxes and Premium for enhanced death cover

More Details

Guaranteed Additions:
Guaranteed Additions are calculated as a percentage of the Single Premium and will be added every year till the end of the policy term. The guaranteed additions are paid out on Maturity of the policy, subject to the policy being in force. The percentage varies on the basis of the policy term and is shown in the table given below:

Policy TermGuaranteed Additions as a % of Base Single Premium
5 years7%
10 years9%

Flexibility to choose between two terms
You have the option to choose between two policy terms of 5 years or 10 years while you pay premiums only once.

Enhanced Life Cover
Other than the Sum Assured chosen, if you wish to increase the Life Cover under the policy, you can avail the same by paying an additional premium known as the Mortality Premium.

Life Insurance Benefit
In case of unfortunate death of the Life Insured, the Sum Assured on Death which is explained below is payable to the Nominee:

Sum Assured on deathThe Sum Assured on Death is the sum of (1) & (2) as given below:
  1. The higher of
    1. Sum Assured chosen by the policyholder
    2. Sum Assured on Maturity
    3. 125% of Single Premium plus mortality Premium (if opted for enhanced death cover), for policyholder with age less than 45 years as on last birthday at policy inception

      OR

      110% of Single Premium plus mortality Premium (if opted for enhanced death cover), for policyholder with age 45 or higher as on last birthday at policy inception.
  2. Enhanced Life Cover (if opted for)

Maturity Benefit:
If the policy is in force and the Life Insured survives to the Maturity Date of the policy, then the maturity benefit equal to Sum Assured on Maturity will be payable which is 100% of Single Premium along with Total Guaranteed Additions accrued during the Policy Term (excluding Mortality Premium, if any).

Bharti AXA Life Child Advantage Plan

3 Reasons to buy

Single Premium plan.

Guaranteed additions as high as 9% that are paid out at Maturity providing a lump sum benefit.

Flexibility to choose between two plan terms; 5 and 10 years.

Receive Tax benefits on the Premiums paid and pay-out benefits received.

How it works?

LET’S TAKE A LOOK AT THIS CASE STUDY35 year old Karan has a 2 year old son Sahil, he chooses our Bharti AXA Life Child Advantage with Money Back option for a Sum Assured of Rs. 18,18,512. He pays an annual premium of Rs. 1,00,000 p.a. for 20 years.
1st Policy Year Starts paying an annual premium* of Rs. 1,00,000 
15th & 16th Policy Year Starts receiving guaranteed pay-outs of Rs. 1,81,851 each year
17th & 18th Policy Year Then he receives guaranteed pay-outs of Rs. 2,72,777 each year
19th Policy Year Next he receives guaranteed pay-out of Rs. 3,63,702
20th Policy Year While Karan still continues paying an annual premium of Rs. 1,00,000 throughout the entire premium payment term of 20 years
End of 20th Policy Year He also receives a lump sum maturity benefit of Rs. 19, 27,623(Guaranteed Rs. 7,27,405 + accumulated bonus @8% p.a.Rs. 12,00,218)

Who can buy?

ParameterEligibility 
Premium TypeRegular PayLimited Pay
Policy Term11 to 21 years11 to 21 years
Premium Payment TermSame as Policy TermPolicy Term minus 5 years
Minimum age at entry (age last birthday)18 Years18 Years
Maximum age at entry (age last birthday)50 years55 years
Maximum Maturity Age (age last birthday)71 years76 years
Minimum Sum AssuredRs. 25,000Rs. 25,000
Minimum Annualized PremiumDepends on the Minimum Sum AssuredDepends on the Minimum Sum Assured
Premium Payment ModesAnnual, Semi annual, Quarterly*, Monthly*Annual, Semi annual, Quarterly*, Monthly*

More Details

As parents, you take care to plan your child’s future. You want to give them the best and nothing less. But life is unpredictable. An unfortunate event could cast a shadow on your child’s future; you need to be ready for every eventuality.
At Bharti AXA Life, we understand your needs and have decided to act. We bring you Bharti AXA Life Child Advantage. A child plan that offers you guaranteed payouts at key milestones and waives off all future premiums in case of an unfortunate event. Thus ensuring that your child’s dreams are never compromised. Along with this, you get the benefits of Non-Guaranteed bonuses and Life Insurance, so your child’s aspirations and dreams are secured for life.

Option to choose the desired benefits:
You can choose between 2 Maturity benefits options under this plan at inception according to the needs and career goal of your child.

Money Back option:
Provides guaranteed payouts in the last 5 years before maturity to meet your child’s education needs. At maturity this plan offers guaranteed maturity payout of 40% of Sum Assured, to support your child’s higher education and kick start his/her career.

Time of Guaranteed Pay-outs% of Sum Assured Payable
End of 5th Year before the Maturity Date10%
End of 4th Year before the Maturity Date10%
End of 3rd Year before the Maturity Date15%
End of 2nd Year before the Maturity Date15%
End of 1st Year before the Maturity Date20%

Endowment option:
Provides a guaranteed lump sum amount of 125% of sum assured at maturity of the Policy, provided the policy is in force, to help your child pursue his aspirations and prepare him for the big events in life.

Policy Continuance:
The policy ensures that your child will receive all the benefits as planned, by waiving off all the future premiums in case something unfortunate was to happen thus ensuring that Your child’s dreams will not be compromised even when you are not around.

Life Insurance Benefit:
In case of the unfortunate event of death of the life insured, the nominee will receive Higher of (110% of Sum Assured for Money Back option and 125% of Sum Assured for Endowment option) or 11 times the base annualized Premium to support your child in a time of need. The death benefit payable at any point in time will not be less than 105% of all premiums paid. In case of an unfortunate event, the guaranteed benefits would continue as planned and all future premiums will be waived off.

Potential Upside with Bonus:
The policy participates in the distribution of surplus or profits that may be declared by The Company. Non-Guaranteed Annual Simple Reversionary bonus gets accrued to the policy at the end of each year provided all due premiums are paid and is payable at Maturity. The company may also declare Non- Guaranteed Terminal bonus which is also payable along with Maturity Benefit.

Option to choose Premium Payment term:
Depending upon the age of your child you can choose the Policy Term options from 11 to 21 Years. Then choose the premium payment type i.e. Limited Pay or Regular Pay depending upon your preference of investment tenure. For Regular Pay, the premium payment term is equal to Policy Term. For Limited Pay, the premium payment term is Policy Term minus 5 Years.

Tax Benefits:
You can avail the tax benefits on the premiums paid and on the benefits received subject to the prevailing provisions under Section 80C and Section 10 (10D) respectively of the Income Tax Act, 1961. The tax benefits are subject to change as per change in Tax laws from time to time.

Do I get the flexibility to enhance my protection through additional features?
Yes. To enhance your protection, you may customize your policy by opting for the following riders.
1. Bharti AXA Life Hospi Cash Rider (UIN: 130B007V02)
2. Bharti AXA Life Accidental Death Benefit Rider (UIN:130B008V01)

Please refer rider brochures for complete details on terms and conditions and exclusions before opting for the riders.

Bharti AXA Life eAajeevan Sampatti Plan

4 Reasons to buy

When you are looking for a whole life cover plan up to the age of 100.

Receive annual guaranteed pay-out from the end of the 10th policy year until Maturity.

Potential upside through non-guaranteed bonus from the end of 6th Policy year.

Enjoy Tax benefits on the Premiums paid and pay-out benefits received from this online plan.

How it works?

LET’S TAKE A LOOK AT THIS CASE STUDY
30 year old Rahul chooses our Bharti AXA Life eAajeevan Sampatti+ for a Sum Assured of Rs. 5,00,000 with a coverage until he turns a 100 years. He pays an annual premium of Rs. 1,01,945 for 10 years.
1st Policy Year Starts paying an annual premium of Rs. 1,01,945
6th Policy Year Non-guaranteed cash bonuses are paid until maturity or death
10th Policy Year Finishes paying annual premium
11th Policy Year Guaranteed annual payouts of Rs. 27,500 begins
70th Policy Year If Rahul survives until the age of 100, he will receive a maturity amount of Rs. 5,00,000

Who can buy?

ParameterEligibility Criteria
Minimum age at entry (age last birthday)91 days
Maximum age at entry (age last birthday)60 years for ‘To age 100’ Policy Term 50 years for ‘To age 85’ Policy Term
Maximum Age at Maturity (age last birthday)100 or 85 years depending on the Policy Term chosen
Premium payment term options available10 years & 15 years
Minimum Sum Assured on MaturityRs. 50,000
Maximum Sum Assured on MaturityNo Limit, subject to underwriting
Minimum PremiumWill depend on the minimum Sum Assured on Maturity
Premium Payment ModesAnnual, semi-annual, quarterly* & monthly*

More Details

Lifelong Benefits
Your coverage under the Policy will continue until you reach the age of 100 or 85 years as per the Policy term selected.
In case of unfortunate event of death of Life insured (applicable even in case of minor lives), subject to the policy being in force the Sum Assured payable on death will be higher of: 

  • Sum Assured on Maturity OR
  • 11 times Annualised Base Premium The base annualized premium paid will exclude any modal factors and underwriting extra.

Guaranteed Pay-out Benefit:

This plan assures guaranteed annual payouts until Maturity (except in the policy year coinciding with maturity). Once you complete the 10th Policy year, you will start receiving an annual payout until maturity or death of Life Insured, whichever is earlier, subject to policy being in force. The Guaranteed Annual Payout percentage depends on the Policy term option chosen and is mentioned below.

Policy TermGuaranteed Annual Pay-out Percentage
To Age 1005.5% of Sum Assured on Maturity
To age 856% of Sum Assured on Maturity
Life Insurance benefit:

Your coverage under the Policy will continue until you reach the age of 100 or 85 years as per the Policy term selected.
In case of unfortunate event of death of Life insured (applicable even in case of minor lives), subject to the policy being in-force the Sum Assured payable on death will be higher of:

  • Sum Assured on Maturity OR
  • 11 times Annualised Premium OR
    The base Annualised Premium paid will exclude any modal factors and underwriting extra.
  • The death benefit payable shall be higher of Sum Assured payable on death or 105% of all premiums paid (excluding an underwriting extra premium).
  • In case of death during the Grace period, the Death Benefit after deducting the unpaid due premium shall be paid.
  • The life insurance coverage starts immediately from issuance of the policy and is applicable to minor lives as well.
  • The Annualised Base premium is the sum of premiums payable in a policy year and excludes modal factors and underwriting extra (if applicable).
Cash Bonuses

This Policy also offers Non guaranteed cash bonuses subject to the policy being in force. The Policy participates in the performance of the participating insurance fund and surplus is distributed as bonus. This Non guaranteed benefit (as percentage of Sum Assured on Maturity) is paid out as a cash bonus every year starting from the 6th Policy year, until maturity or death, whichever is earlier. No bonuses shall be payable in the first 5 policy years.

Discount on opting Higher Sum Assured

You will be eligible to receive a discount on your premium rate if you opt for a Sum Assured n Maturity of Rs.4, 00,000 or more.

Tax Benefits

You may avail of 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.

Get the best life insurance Policy on IDBI Federal Life Insurance Company.

IDBI Federal Life Insurance

IDBI Federal Life Insurance is one of India’s growing life insurance companies and offers a diverse range of wealth management, protection and retirement solutions to individual and corporate customers. IDBI Federal Life Insurance Co Ltd is a joint-venture of IDBI Bank, India’s premier development and commercial bank, Federal Bank, one of India’s leading private sector banks and Ageas, a multinational insurance giant based out of Europe.

Childsurance Savings Protection Insurance Plan

An insurance plan that secures your child’s financial future.

Life cover for your family’s financial security

Guaranteed annual payouts to fund important milestones

Waiver of premium benefit to secure your child’s future

This is what the plan offers

Get guaranteed annual payouts for important milestones :

The plan gives you guaranteed annual payouts either in the last 3 or last 5 years of the policy, depending on the policy term you choose.

Receive bonuses to add to your savings :

The reversionary bonus* accrues into the policy throughout the policy term, right from the first policy year. Along with reversionary bonus, interim and terminal bonuses (if any) would also be paid out at maturity.

Immediate payout of lump sum in case of the unfortunate event of your death :

In case of an unfortunate event, the death sum assured will provide for your child’s immediate needs. Further, all future premiums of the policy will be waived off.

Plan continues and benefits are paid as planned :

Even in the unfortunate event of death, the guaranteed annual payouts and bonuses will be paid on their respective due dates.

Flexibility to plan for your needs :

With this plan, you have the option of choosing the maturity sum assured, policy term, premium payment term, and payment mode as per your child’s future needs.

Key Benefits

Maturity Benefit

The maturity benefit of your policy payable is the aggregate of the maturity sum assured and the accrued bonuses. It is the sum assured that is used to determine your premium and maturity benefit. It is paid out as guaranteed annual payouts either in the last 3 or last 5 years of the policy, depending on the policy term you choose.

Death Benefit

In case of death of the life assured during the term of the policy, the death sum assured is paid immediately. Additionally, the future premiums are waived and your nominee would be paid the guaranteed annual payouts on their respective due dates. At the end of the policy term, the vested bonuses, if any, will be paid.

Tax Benefit

The policy offers tax benefits as applicable under section 80 C and 10(10D) as per provisions of the Income Tax Act, 1961. Tax benefits are subject to change in tax laws. You are advised to consult your tax advisor for details.

Eligibility for this plan

Age at entry of life insured (parent) : 18 Years (Min)| Regular payment option: 40 years(Min) Limited payment option: 50 years(Max)

Age at entry of Nominee (child) : 1 month (Min)|18 years(Max)

Age at maturity of the life insured (last birthday) : 28 years (Min)- Regular payment option: 65 Years(Min). Limited payment option : 75 years (Max)

Premium Frequency (Mode) : Fixed/Yearly, and monthly by ECS, standing instructions or direct debit only

Policy term : 10 years(Min) / 25 years(Max)

Get the best life insurance Policy on HDFC life Insurance Company.

HDFC LIFE CLICK TO PROTECT PLUS

Sometimes the simplest choice is the best one for you. A pure protection plan is a simple way to get comprehensive protection at an affordable price and protect yourself and your loved ones against the uncertainties that life may throw at you. With a range of additional coverage options, HDFC Life Click 2 Protect Plus is an ideal comprehensive protection plan for you.

Key Features of this Plan

Comprehensive coverage at affordable cost Provide financial protection for you and your family Customize your plan with choice of cover options

Life Option: which pays lump sum on death?

Extra Life Optionwhich pays an additional lump sum on death due to accident?

Income option: which pays a part of the Sum Assured on death with remaining payable as monthly income over 15 years

Income Plus OptionThis pays the Sum Assured to the nominee upon the death of the life assured as well as a monthly income to the family for a period of 10 years. A monthly income equal to 0.5% of Sum Assured becomes payable for a period of 10 years. The monthly income can be level or increasing at 10% p.a. on each policy anniversary.

That’s not all! – With Life Stage Protection feature available under Life Option, you can increase your insurance cover on certain key milestones of your life without medicals

Insurance cover available up to age 75 years Single,

Limited and Regular premium payment options to choose from

Attractive premium rates for non-tobacco users

Tax benefit as per prevailing tax laws

What is the aim of this plan?

This plan provides a benefit amount in the unfortunate event of death of the Life Assured anytime during the policy term. This amount would help your family to pay any outstanding debts or fund the day to day expenses, thus easing the financial worries of your family.

What are the plan options?

Life OptionDeath Benefit
Extra Life OptionDeath Benefit+ Accidental Death Benefit
Income OptionPart of the Death benefit as a Lump sum with the remaining payable in form of monthly income over a period of 15 years.
Income Plus Option100% of Sum Assured is paid on death and a monthly income equal to 0.5% of Sum Assured becomes payable for a period of 10 years. The monthly income can be level or increasing at 10% p.a. as chosen by the policyholder

Who Can Apply?

AGE

Minimum Entry age

Maximum Entry age

Maximum Entry age

What period will I be covered for?

You can choose to be covered for any term from 10 years to 40 years’ subject to meeting the maximum maturity age.

How long do I pay premiums for?

You can choose to pay from either of the 3 premium paying options available with this plan:

Regular pay- you pay premiums throughout the chosen policy term OR

Limited pay- you pay premiums for your chosen policy term less 5 years OR

Single pay – you pay premium once

What premium payment frequencies are available?

Single, annual, half-yearly, quarterly and monthly* frequencies are available under this product.

What period will I be covered for?

Your cover (Sum Assured) will be based on your age, gender and plan option within the applicable limits as mentioned below:

Minimum Sum Assured: ` 25,00,000

There is no limit on maximum Sum Assured, subject to satisfactory underwriting

How can I buy this plan?

You can buy this plan at www.hdfclife.com. It just takes 4 steps to own your HDFC Life Click 2 Protect Plus plan.

Customize your plan1. Plan Option 
2. Sum Assured 
3. Policy Term 
4. Additional Coverage Options
5. Premium Paying Term & Frequency of payment
Generate Premium QuoteYou will need to fill the following to generate premium quote
1. Age
2.Gender 
3. Answer if you consume tobacco or not
Provide your relevant InformationFill in your personal details; answer few questions on your occupation, lifestyle, health and your family’s medical history. You need to fill nomination details and accept the policy terms & conditions
Pay PremiumsPay your premiums! Your policy document will be sent to you subject to acceptance of your application as per the policy terms & conditions

What are the benefits?

The plan covers the event of death under all options as mentioned below. An additional benefit is paid in case of accidental death under Extra Life Option. Plan also offers an opportunity to enhance your cover through Life Stage Protection Feature under Life Option. Benefits will be paid only if you have paid all the due premiums and your policy is in force as on date of claim.

Death benefit

In the unfortunate event of death of life assured during the policy term, the nominee will receive the benefit as defined below:

Single Premium PoliciesOther then Single Premium Policies
Highest of:Highest of:
125% of Single Premium10 times the annualized premium
Sum Assured105% of all the premiums paid as on date of death
 Sum assured

For the purpose of the computation of the Death Benefit, the annualized premium shall exclude the underwriting extra premiums and loadings for modal premiums, if any

Under Life Option, the Death Benefit specified above shall be payable in the form of a lump sum upon death. Under Extra Life Option, the Death Benefit specified above shall be payable in the form of a lump sum and an additional benefit equal to the Sum Assured shall be payable in case of accidental death.

Under Income Option, the Death Benefit specified above is paid in the following manner:

  • 10% of the Death Benefit paid as a lump sum upon death
  • Remaining 90% of the Death Benefit shall be paid as monthly income over next 15 years (0.5% of Death Benefit every month for 15 years)

Under Income plus Option:

  • 100% of the Death Benefit specified above shall be paid as a lump sum upon death
  • In addition, a monthly income equal to 0.5% of the Sum Assured shall be payable for a period of 10 years.

The monthly income can be level or increasing at 10% p.a. as chosen by the policyholder.

Maturity benefit

No benefit is payable on survival till end of policy term.

Life Stage Protection

(Available under Life option upon payment of an additional premium) You want to be sure you have enough cover as your financial circumstances change as you go on to achieve different milestones in your life. With Life Stage Protection feature you can

Increase your cover (Sum Assured)

Reduce the additional cover later which will lead to proportional reduction in future premiums

Increase your cover:

You can increase your Insurance Cover without any medicals on any one or all of the following events:

EventsAdditional Sum Assured 
(Percentage of sum assured)
Subject to Maximum Additional sum assured
Marriage50%Rs 50,00,000
Birth of 1st Child25%Rs 25,00,000
Birth of 2nd Child25%Rs 25,00,000

Occurrence of these events must be during the term of the policy.

Your premium will be recalculated based on your increased Sum Assured and outstanding policy term.

See Terms & Conditions section for details.

llustration of Life Stage Protection feature

Joy is a 30 year old professional who has purchased HDFC Life Click 2 Protect Plus with Sum Assured of `.10,00,000. On his marriage, he wants to increase his Sum Assured. He opts for the Life Stage Protection Option and his Additional Sum Assured is 50% of the Sum Assured i.e. `. 5,00,000. He becomes a father after 2 years of marriage and opts to increase his cover. His Additional Sum Assured is increased by 25% of his Sum Assured i.e. `. 2,50,000.

Reduce the Additional Sum Assured:

With age as your income is on a rise and as your children become independent, you may realize that you don’t need Additional Insurance Cover anymore. We offer you the flexibility to reduce your Additional Insurance Cover after you have attained age of 45 years. Your Sum Assured will be reset to the original Sum Assured at inception. Your premium will be recalculated based on revised sum assured for the remainder of the premium paying term.

What if i don’t Pay Premium?

Grace Period is the time provided after the premium due date during which the policy is considered to be in-force with the risk cover. This plan has a grace period of 30 days for yearly, half yearly and quarterly frequencies from the premium due date. The grace period for monthly frequency is 15 days from the premium due date. Should a valid claim arise under the policy during the grace period, but before the payment of due premium, we shall still honour the claim. In such cases, the due and unpaid premium will be deducted from any benefit payable. In case you do not pay premiums before the end of grace period, the policy will lapse. All risk covers will cease and no benefits will be payable in case of lapsed policies.

Can I surrender the plan?

You can surrender your policy anytime and get surrender benefit as stated below:

Premium PaySurrender Value
Single payLife, Extra Life, Income Option and Income Plus Option : 70% x Single Premium x (Unexpired Coverage Term / Original Coverage Term ):

Regular   Pay

Non Surrender Value

Limited

Pay

Non Surrender Value

Who will get the benefit?

The benefit on death will be paid to your nominee. As per Section 39 of the Insurance Act, 1938, you can nominate a person to receive the benefit under this policy. During your lifetime and while your policy is in force, you may at any time, by written notice to us, designate any person or persons as a nominee to whom we shall pay benefits under this policy upon your unfortunate death. If you assign your policy as per Section 38 of the Insurance Act, 1938 any nomination made by you will be cancelled.

Exclusions only for Accidental Death Benefit

We will not pay accidental death benefit if the death occurs after 180 days from the date of the accident. We will not pay accidental death benefit, if accidental death is caused directly or indirectly by any of the following: If the death occurs after 180 days from the date of the accident Intentionally self-inflicted injury or suicide, irrespective of mental condition Alcohol or solvent abuse, or the taking of drugs except under the direction of a registered medical practitioner War, invasion, hostilities (whether war is declared or not), civil war, rebellion, revolution or taking part in a riot or civil commotion Taking part in any flying activity, other than as a passenger in a commercially licensed aircraft Taking part in any act of a criminal nature with criminal intent Taking part or practicing for any hazardous hobby, pursuit or race unless previously agreed to by us in writing