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Bharti AXA Life Family Income Secure


This term insurance plan pays policy benefits to the nominee as annual installments over a 20-year period, instead of a lump sum payment.

What does it do?

In case of the policyholder’s death, the plan will pay an annual sum over next 20 years to the family.
On survival, entire premium paid is returned to the policyholder on maturity.


The policy provides for maturity benefit on survival and surrender benefits if one wants to surrender the policy mid term.
The annual payout can be used as a replacement of income, and it’s better than receiving a lump sum payment.


There are no rider options available with the plan.
Policy is available for a fixed tenure of 10, 15 or 20 years.

Suited for

This policy is suitable for those not happy with the idea of paying premium for a pure term plan, paying only death benefit.

Our View

The return of premium option is a marketing gimmick and does not add value, as you end up paying higher premium as compared to a plain risk cover offered by the same insurer.
The annual payout of claim benefits is useful for the policyholder's nominees.

Entry Age (years) 
Maximum Maturity Age (years)70 years for 10 year term
75 years for 15 year term
80 years for 20 year term
Policy Term (years) 
Sum Assured (Rs) 
MinimumAnnual Income (as selected while buying the policy x 20 years)
MaximumNo limit
Minimum Premium (Rs) 
Premium Payment FrequencyYearly, Half-Yearly, Quarterly(via ECS), Monthly(via ECS)
Premium Payment TermEqual to Policy term
Policy CoverCover remains same throughout the policy term.
Other Features 
Free Look CancellationIn 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 PeriodYou 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 ReinstatementYou 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 BenefitsSection 80C, 10(10D) of the Income Tax Act, 1961 would apply.
ExclusionsIn 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 Value100% of total premiums paid during benefit term
Surrender ValueAllowed 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 ServiceBharti AXA Life Insurance Company Limited, Unit 601 & 602, 6th Floor, Raheja Titanium, Off Western Express Highway, Goregaon (East), Mumbai 400 063
Customer Service 
Mail To[email protected]
Call On1800 102 4444 during business hours (9:00
a.m. to 9:00 p.m.)
SMSService' 56677
Annual Premium Option for Male
Policy Term (in years)Age (in years)
Figures indicate premiums on a Rs 20 lakh (Rs 1 lakh per annum x 20 years) policy across different age over different policy tenures exclusive of service tax.
Annual Premium Option for Female
Policy Term (in years)Age (in years)
Figures indicate premiums on a Rs 20 lakh (Rs 1 lakh per annum x 20 years) policy across different age over different policy tenures exclusive of service tax.