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Group Insurance 583 views February 1, 2021
Bharti AXA Life Group Term Micro Insurance Plan is a comprehensive group micro term insurance plan that can be suitable for you if you are looking to protect the financial lives of your members or customers. This is a non-linked non-participating life insurance plan with which you can get two death benefit payout options so that your members always get the necessary financial support all the time.
One of the best things about this plan is that you can customize this plan according to your organization and members’ requirements. Want to know more about this plan? Well, on this page, we will discuss some of its key features, benefits, death payout options, etc. Keep reading to know more!
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What are those key features with which your members can enjoy their lives peacefully without worrying about the finances with Bharti AXA Life Group Term Micro Insurance Plan? Well, it’s important to understand them better before choosing this plan. That’s why we are showing them below. Please do check!
In the case of Bharti AXA Life Group Term Micro Insurance Plan, there are different kinds of policy term that you can choose according to the premium payment term. The first option is the One Year Renewable term that you can renew t after one year. The other option is the Fixed Policy Term. Within this option, if you are choosing Regular Pay, the policy term can range from 2 to 5 years that will be in multiples of one year. On the other hand, if you are choosing Single Pay, the policy term can be 1 month to 60 months that will in the multiples of one month.
Talking about the premium payment term, it can be One Year Renewable Term or Regular Payment, or Single Payment. You can also choose to pay the premium in different frequencies that we are showing below.
Frequency | Modal Factors |
---|---|
Annual | 1 |
Semi-annual | 0.51 |
Quarterly | 0.26 |
Monthly | 0.0867 |
In the case of this Group Term Insurance Plan from Bharti AXA, you can choose a sum assured amount according to your needs that can be as low as INR 5,000, while it can be as high as INR 2,00,000.
When you choose this plan from Bharti AXA Life, you can choose a group that can have a minimum of 5 members.
You can enjoy a wide range of benefits when you choose Bharti AXA Life Group Term Micro Insurance Plan. We are showing them below. Do check!
The death benefit can be of two types in the case of Single Life and Joint Life option. Let’s talk about the single life option first. In case of the unfortunate demise of the insured member, the company will pay a sum assured to the nominee if all the premium have been paid. Coming to the joint life option, in case of the first death of two lives, the company will pay a sum assured to the beneficiary or nominee. Other than this, the coverage for the second life will be terminated.
You will not get maturity benefits if an individual manages to survive the end of the policy term on this Bharti AXA Life Group Term Micro Insurance Plan.
We are showing all the eligibility conditions related to Bharti AXA Life Group Term Micro Insurance Plan that you should know before choosing this plan. Have a look below!