Minimum Premium (Rs)
Yearly
2500
Half-Yearly
1300
Quarterly
675
Monthly
225
Premium Payment Frequency
Yearly, Half-Yearly, Quarterly(via ECS), Monthly(via ECS)
Premium Payment Term
Equal to Policy term
Policy Cover
Cover remains same throughout the policy term.
Other Features
Free Look Cancellation
In case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered.
Grace Period
You are allowed to pay premiums within 30 days from the due date for Yearly, Half yearly and quarterly premium payment modes and 15 days in case of monthly premium payment mode.. If a due premium is not received within the grace period, your policy will lapse and the life insurance cover will be terminated.
Lapsed Policy Reinstatement
You can reinstate your lapsed policy any time (within 2 years from the due date of the first unpaid premium) by paying all the due premiums with interest and undergoing underwriting requirements, if any.
Tax Benefits
Section 80C, 10(10D) of the Income Tax Act, 1961 would apply.
Exclusions
In case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable.
Maturity Value
100% of total premiums paid during benefit term
Surrender Value
Allowed after three year premiums have been paid duly on time and three years have alapsed. It is calculated as: 30% x premiums paid till date excluding first years premium excluding first year's premium and any extra premium paid.
Customer Service
Bharti AXA Life Insurance Company Limited, Unit 601 & 602, 6th Floor, Raheja Titanium, Off Western Express Highway, Goregaon (East), Mumbai 400 063
