Insurance Plans February 1, 2021

If you often find yourself worrying about your family’s future in your absence, Bharti AXA Life Group Accidental Death Benefit Rider could be one for you. With this rider option upon your base policy, your family will get additional protection and coverage in case of an unfortunate death due to an accident. It is a non-linked non-participating individual life insurance rider with which you can choose the rider coverage term according to your convenience.

On this page, we will talk about several features of Bharti AXA Life Group Accidental Death Benefit Rider, such as its benefits, eligibility conditions, rider term, premium amount, etc. Keep reading to know more!

Why Should You Choose Bharti AXA Life Group Accidental Death Benefit Rider?

What are those key features of Bharti AXA Life Group Accidental Death Benefit Rider because of which an individual should choose this plan? Well, we are showing them below. Have a look!

  1. One of the best features of this plan is that your family can get enhanced financial protection in case you die due to an accident. In such a case, the nominee or beneficiary will receive a basic sum assured apart from the death benefit applicable under the base policy upon which you are taking the rider.
  2. With this policy from Bharti AXA Life, you can also choose the rider coverage term according to your convenience that ranges from 5 years to 57 years. However, there is an important thing you need to keep in mind that the rider term cannot exceed the premium payment term of your base policy.
  3. In case of accidental death, the nominee will receive 100% of the sum assured.
  4. Other than the rider coverage term, this plan also provides the option to choose the rider sum assured without any stress. This sum assured can range from INR 50,000 to INR 50,00,000. However, remember that the sum assured chosen cannot be greater than the sum assured applicable under the base policy.
  5. You can also enjoy tax benefits on the premium paid towards the rider under the Section 80C of the Income Tax Act, 1961.
  6. You will also get a free look period of 15 days (for offline policy) or 30 days (for online policy) within which you can return the policy if you are dissatisfied with its terms and conditions.

What Will be the Rider and Premium Payment Term?

One of the important aspects of any rider plan is the period for which it will cover in case of any eventualities. In the case of Bharti AXA Life Group Accidental Death Benefit Rider, you can choose a minimum rider term of 5 years. However, it can be a maximum of 75 years less than the age at the time of the entry of an individual in the policy. For example, if an individual is 30 years at the time of entering into the policy, the maximum rider term can be 45 years. Do remember that the rider term cannot exceed the policy term of the base policy.

When we talk about the premium payment term, it will be the same as the rider term chosen by you. Bharti AXA Life Group Accidental Death Benefit Rider also provides multiple premium payment frequencies from which you can choose according to your convenience. These options are annual, semi-annual, quarterly, and monthly. Do remember that only ECS payment is acceptable for the monthly mode.

What will be the Premium Amount for Bharti AXA Life Group Accidental Death Benefit Rider?

Before choosing this policy, you should know about the premium amount that you will need to pay towards the same. This can be as low as INR 40 when choosing the policy offline, while it will be even lower at INR 25 if you choose this online. Also, the premium amount will be different for standard and substandard lives.

Bharti AXA Life Group Accidental Death Benefit Rider Eligibility Criteria

What are those important parameters related to this rider from Bharti AXA Life that you should know? Well, you can know them below. Do check!

  1. The minimum age at entry can be as low as 18 years for individuals wanting this policy.
  2. The maximum age at the time of entering into the policy can go up to 65 years.
  3. Coming to the maturity age, an individual can be as old as 75 years at the time of maturity of the policy.

Exclusions under the Bharti AXA Life Group Accidental Death Benefit Rider

You should also know a few things that are not covered under this plan from Bharti AXA Life. An individual will not get any benefits for the following incidents caused directly or indirectly.

  1. Suicide or attempted suicide or self-inflicted injury
  2. War, Terrorism, invasion, the act of foreign enemy
  3. Taking part in any kind of naval, military, or air force operation during peacetime
  4. Intake of alcohol or solvent abuse or drugs
  5. Committing an assault, a criminal offense, an illegal activity, or any breach of law
  6. Participation in any flying activity, except as a bona fide, fare-paying passenger on a scheduled time table

People Also Read