Began operating in 2006, Bharti AXA Life Insurance is an outcome of a joint venture between AXA Group and Bharti Enterprises. Currently, Bharti Group sustains a 51% stake whereas AXA preserves the rest of the 49%.
Bharti AXA renders a range of insurance products varying from conventional to investment plans and assures protection for children through child plans. This company brings together unshakeable values in which they work on serving customers with the best. Their promise to solve insurance–related issues is mirrored in their impression claim settlement percentage.
Prominent Features of Bharti AXA Term Insurance Company
Annual premium: IRDAI report 2021-22 exhibits that Bharti AXA Life Insurance Company recorded an annual premium of Rs. 5889.92 crores.
Solvency ratio: The solvency ratio of the insurance company helps a person substantiate the company’s capability to meet its financial commitments. The solvency ratio of Bharti AXA Life Insurance Company for the financial year 2021-22 as per IRDAI is 1.72.
Claim settlement ratio: This insurance company preserves a notable CSR of 99.09% as per the IRDAI report for the financial year 2021-22.
Operating network: Presently, Bharti AXA Life Term Insurance Company has 250+ branches across India and additional distribution touchpoints via multiple new tie-ups and partnerships. Besides, its PAN India presence, it has professional consultants who are always eager to help you choose the best.
Benefits of Bharti AXA Term Insurance Company
Dependable and easy claim settlement: The claim settlement of Bharti AXA Life is one of the best across the nation. It showcases one of the highest claim-settlement ratios making customers trust this company for their insurance needs.
24*7 customer support: Bharti AXA Life ensures to connect with its potential customers via numerous channels such as email, phone, and social media platforms assuring that customers get quick responses.
Several options: Bharti AXA Life Insurance acknowledges the wide-ranging needs of customers and thus offers alternatives. Additionally, you will find a range of riders available to let you enhance your coverage.
Expansive coverage: Feel free to choose term insurance plans that entail longer coverage options that render Life covering up to the age of 85, and you can get whole life insurance up to the age of 99.
Affordable term plans: The term plans of Bharti AXA Life are available at economical rates.
Reasons to Buy Bharti AXA Term Plans
Financial well-being: Bharti AXA Term Plans are concocted to provide a lump sum amount to your beneficiary that can provide financial independence to your family in case of your sudden demise.
Affordable premiums: A Bharti AXA Life Term Plan renders affordable premiums that lure individuals who want to secure the financial future of their loved ones without worrying about paying hefty premiums.
Customize coverage: These term insurance plans let you decide the coverage and policy duration as per your needs. It is feasible to customize a policy that goes well with your financial needs and obligations.
Tax benefits: Bharti AXA Life Term insurance plans present tax benefits under Section 80C of the Income Tax Act, 1961. The premium payments are tax-deductible which can assist you enjoy tax-saving.
Extra benefits: Bharti AXA Life Term insurance plans present additional benefits, such as accidental death benefits, critical illness cover, and waiver of premium. The addition of these riders can enhance coverage protection.
Who Should Buy a Bharti AXA Term Plan?
Sole wage earner of the family: If you are the primary breadwinner of the family who also has dependents, this term plan offers the required financial support to your family in your absence.
Young and hale & hearty: If you are young and sustaining good health, you can enjoy benefits like lower premiums by buying a term insurance plan at an early age. As you age, the premiums of insurance policies also tend to go up due to more susceptibility to age-related health issues.
Risky occupation: If your job requires you to work at a perilous site, this plan can equip you with financial security in the event of accidental death and disability.
Unsettled debts: If you have unsettled debts, a life-term plan can provide your family capital to repay the debt in the event of accidental death and disability.
Bharti AXA Term Plan Riders
Bharti AXA Life Term Rider: It pays out an additional sum assured in the event of the policyholder’s death.
Bharti AXA Life Premium Waiver Rider: It offers additional protection that waives off your future premiums if life makes you face an unfortunate incident.
Bharti AXA Life Accidental Death Benefit Rider: This rider provides 100% sum assured in the event of the policyholder’s death due to an accident but the policy should be active during the time of death.
Bharti AXA Life Group Accidental Death Benefit Rider: It fetches better protection for the family in the event of the policyholder’s death due to an accident.
Bharti AXA Life Hospital Cash Rider: It waives off your future premiums if you face any mishap like death, critical illnesses, or permanent disability.
You can buy Bharti AXA Term Plans either by visiting the official website of Bharti AXA Life Insurance Company or Policychayan.
Conclusion:
We cannot predict uncertainties but we can relieve the adverse impact of uncertainty by investing in the meticulously curated Bharti AXA Term Insurance plans.
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