Insurance Plans India 371 views January 28, 2021

If you are worried about what will happen to your family if you are not around, don’t worry; because Bharti AXA Life POS Saral Jeevan Bima Yojana provides you a perfect life cover with no medical examination. The policy will give a death benefit to your nominated beneficiaries in case of your death during the policy term. If this is what you are looking for, read this page below and learn more about the Bharti AXA Life POS Saral Jeevan Bima Yojana.

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Bharti AXA Life POS Saral Jeevan Bima Yojana Benefits

Under Bharti AXA Life POS Saral Jeevan Bima Yojana, your beneficiary can claim the following benefits as the case may be –

Other Than Accidental Death – If you die during the policy term due to any reason other than an accident, the highest of the following becomes payable to your nominee/beneficiary.

  1. 11X Annualized Premium
  2. 105% of all the paid premium as on the date of death
  3. Absolute amount assured to be paid on the death of the life assured
  4. Sum assured on maturity

Accidental Death – If the reason for your death is an accident or any injury that arises from an accident, the total death benefit payable will be 2X Sum Assured on Death. The Sum Assured on Death is the highest of the following

  1. 11X Annualized Premium
  2. 105% of all the paid premium as on the date of death
  3. Absolute amount assured to be paid on the death of the life assured
  4. Sum assured on maturity

Eligibility for Bharti AXA Life POS Saral Jeevan Bima Yojana

To buy this policy, you need to meet the following –

  1. Entry age 18-55 years
  2. Maturity age 28-65 years
  3. Policy term of 10, 15, 20,25 years
  4. Regular premium payment term
  5. Premium payment mode – annual, semi-annual, quarterly and monthly
  6. The minimum sum assured is INR 50,000
  7. No capping for maximum sum assured, subject to board approved underwriting
  8. A free look period of 15 days (offline purchase) and 30 days (purchase via distance marketing mode)
  9. A grace period of 15 days (monthly mode) and 30 days (annual, semi-annual and quarterly mode)

Waiting Period for Bharti AXA Life POS Saral Jeevan Bima Yojana

There is a waiting period of 90 days applicable to your Bharti AXA Life POS Saral Jeevan Bima Yojana for death other than an accident. And in case you die during the waiting period, 100% of the paid premiums, exclusive of applicable taxes, till the date of death will be payable to the nominee.

Bharti AXA Life POS Saral Jeevan Bima Yojana Premium Schedule

Your premium amount for the policy will depend on the sum assured, age and policy term. You should know that you have different modes available for premium payment. So let’s check out the factors applicable to each mode of payment in the table below –

Mode of PremiumModal Factors
Monthly0.0867 of annualized premium
Quarterly0.26 of annualized premium
Sem-annual0.51 of annualized premium

Conditions for Advance Premium Payment

  1. An advance payment shall be done within the same financial year in which the due premium date falls
  2. If an advance premium is paid earlier than the due financial year, there should be a maximum gap of 3 months between the advance payment date and the due date

Note – You can pay Bharti AXA Life POS Saral Jeevan Bima Yojana premium through ECS only.

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