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Group Insurance 682 views February 3, 2021
One of the ways to get the best of your organization’s members is to provide them an environment where they are assured of their family’s future. Bharti AXA Life Smart Bima Plan can help ensure the same as this one-year renewable group term insurance plan provides a death benefit to the families of your organization’s members in case they die. One of the best things is the flexibility to pay the premium in monthly installments if someone is unable to pay annually.
We’ll discuss the key features, the sum assured options, eligibility and several other details related to Bharti AXA Life Smart Bima Plan. Read further to know more!
Table of Contents
Before securing the future of your members, it is essential to look at the key features of a plan that you are going to have. Keeping your needs in the first place, we are showing some of the striking features of the Bharti AXA Life Smart Bima Plan below. Have a look!
You can choose a sum assured option ranging from as low as INR 5,000 and to as high as INR 5,00,000 per life insured.
A Non-employer-employee group can choose this group insurance plan where a member and group policyholder holds a clear relationship for services other than insurance. In the case of the lender-borrower group, the life cover under this policy will not be attached to the loan provided to the member.
What are those benefits that members of a group can enjoy under the Bharti AXA Life Smart Bima Plan? We are discussing them below. Please check!
Death Benefit – If the life insured dies during the policy term, the company will pay an amount equal to the sum assured to the nominee or beneficiary. If there are any unpaid premiums during the policy term, they will be deducted from the sum assured. Also, each life insured person will be eligible for a single claim under the policy.
Maturity and Surrender Benefit – This policy from Bharti AXA Life doesn’t provide any maturity and surrender benefit to the members of a group.
You should also know the eligibility criteria of the Smart Bima Plan. We are showing them below. Please check!
The nominee or beneficiary will receive at least 80% of the total premiums paid till the date of death or the available surrender value as on the date of death (whichever is higher) if the insured member dies due to suicide within 12 months from the date of commencement of risk under the policy or the date of policy revival.