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Health Insurance 450 views January 23, 2021
The cost of healthcare has been rising with each passing day. Keeping that in mind, having a health insurance plan can be the right way to meet such costs in case any health emergency arises. With the Bharti AXA Life Triple Health Insurance Plan, individuals can protect themselves financially in case they are caught up with any of the13 critical illnesses as specified in the policy document. You can enjoy up to a maximum of 3 claims in a policy term separated into three different groups — A, B and C. With this plan, you can get a sum assured with which you can deal with different medical expenses without hurting your finances.
Here, we will discuss different aspects of the Bharti AXA Life Triple Health Insurance Plan, such as its key features, premium amount, sum assured options, eligibility criteria, etc. Keep reading to know more!
Table of Contents
Reasons to Choose Bharti AXA Life Triple Health Insurance Plan
Your health is one of your most valuable assets, and choosing a health insurance plan can help you take care of it in the right way. But what are those reasons because of which you should choose Bharti AXA Life Triple Health Insurance Plan? Well, here we are showing the same. Have a look!
- This plan offers coverage for 13 critical illnesses split into Group A, Group B and Group C.
- During the policy term, an individual can make a maximum of 3 claims under any group. After claiming any of the groups, policyholders will still be eligible for the other two remaining groups.
- Individuals can choose the option of ‘Waiver of Future Premiums’ after making the first claim. The company will pay all the future premiums on the behalf of the policyholder, and your policy will be in force until maturity.
- Individuals will get a 100% Sum Assured for each claim. After making the first claim, the company will provide 100% of the sum assured for the other two claims provided the event is not included in the same group. However, this option will be subject to a no benefit period of 365 days between each claim.
- Policyholders can also enjoy tax benefits under Section 80D and Section 10(10D) of the Income Tax Act, 1961 on the premium paid and benefits received on the policy, respectively.
- Individuals can also enjoy a free look period of 15 days ( in case of the offline policy) or 30 days (in case of distance marketing) from the date of receipt of policy documents within which policyholders can return the policy and get a refund.
Sum Assured Options Available for You
In the case of the Bharti AXA Life Triple Health Insurance Plan, individuals can choose from a total of three sum insured options according to their requirements. These are INR 10 lakh, INR 5 lakh and INR 2 lakh. However, the maximum sum insured can go up to INR 30 lakh.
Premium Amount for the Bharti AXA Life Triple Health Insurance Plan
As you know you will need to pay a premium amount towards this policy from Bharti AXA. Do remember that the premium amount will depend on the individual’s age at the entry, gender of the applicant, and sum insured options. The minimum premium amount will be INR 1,358 for a male individual with an entry age of 25 years who is choosing a sum insured option of INR 2 lakh.
Individuals can also choose to pay the premiums at different intervals – annual, semi-annual, quarterly and monthly. Do remember that the monthly interval can be chosen only if the payment mode is ECS.
What is the Policy Term and Premium Payment Term?
An individual can choose the Bharti AXA Life Triple Health Insurance Plan for 15 years. Also, the premium payment term will be equal to the policy term i.e. 15 years.
What are Different Group Options under this Plan from Bharti AXA?
As we mentioned there are three groups under which you will get coverage against 13 critical illnesses. We are showing these groups below. Have a look!
| Group A | Group B | Group C |
|---|---|---|
| 100% Sum Assured Payable | 100% Sum Assured Payable | 100% Sum Assured Payable |
| First Heart Attack of Specified Severity | Coma of specified severity | Cancer of specified severity |
| Open Chest CABG | Multiple Sclerosis with persisting symptoms | Benign Brain Tumor |
| Major Organ Transplant (Kidney or Heart) | Major Organ Transplant (Liver or Lung) | Bone Marrow Transplant |
| Kidney Failure Requiring Regular Dialysis | ||
| Heart Valve Surgery | ||
| Stroke Resulting in Permanent Symptoms | ||
| Permanent Paralysis of Limbs |
Eligibility Criteria of Bharti AXA Life Triple Health Insurance Plan
There are a few important conditions that a policyholder needs to keep in mind when choosing this plan. We are showing them below. Please have a look!
- The minimum age at the time of entry into the policy can be 18 years, while it can go up to 65 years
- Coming to the age at the time of policy maturity, an individual can be as old as 80 years
- The policy will lapse if a policyholder fails to pay the premium within the grace period of 15 days (monthly mode) or 30 days (for annual/ semi-annual/ quarterly)
- An individual should not have any kind of pre-existing illnesses while applying for this policy from Bharti AXA