Insurance Plans February 6, 2021

Bharti AXA Life Insurance Plans come with various riders to enhance your overall protection. These riders are the additional coverage plans that will provide you financial security in case of a specific eventuality. You should buy such Bharti AXA Life Riders that offer enhanced coverage over the base policy. You can have riders like a waiver of premium, hospital cash benefits, accidental death benefits, etc. All these riders can make your Bharti AXA Life Insurance Plan a comprehensive one. Of course, the riders will increase your overall premium. But having such riders makes sense in today’s uncertain times. Let’s read the page below and know more about Bharti AXA Life Riders.

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Available Bharti AXA Life Riders

At Bharti AXA Life, you can have the following riders-

Bharti AXA Life Term Rider

This Bharti AXA Life Rider will help you get an additional death benefit in case of your death during the policy term. Key features of Bharti AXA Life Term Rider are:-

  1. Enhanced coverage
  2. Flexible rider term
  3. Option for sum assured
  4. Tax benefits

Benefits Payable Under Bharti AXA Life Term Rider

In the event of the death of the life assured, a sum assured under this rider will be paid to the policyholder/nominee in addition to the sum assured of the base policy payable on death.

You can add this Bharti AXA Life Rider to the following –

  1. Bharti AXA Life Dhan Varsha
  2. Bharti AXA Life Elite Advantage
  3. Bharti AXA Life Income Protection Plan
  4. Bharti AXA Life Monthly Advantage
  5. Bharti AXA Life Samriddhi
  6. Bharti AXA Life Secure Income Plan

Bharti AXA Life Premium Waiver Rider

With this Bharti AXA Life Rider, you will get a waiver of future premiums in case of an unfortunate event like the diagnosis of critical illness, death and permanent total disability. The key features of Bharti AXA Life Premium Waiver Rider are –

  1. Continued Benefit
  2. Waiver of Premium
  3. Multiple waivers of premium options
  4. Tax benefits

Benefits of Bharti AXA Life Premium Waiver Rider

Under this plan, you will get two premium waiver options:-

Option 1 – Waiver of premium in case of death or permanent total disability. In the case of disability, it should have persisted for a continuous period of 180 days and proved to be true in the opinion of a medical practitioner appointed by the company. The permanent total disability will only be accepted if it has occurred after 90 days from the date of issuance or revival.

Option 2 – Waiver of premium in case you are diagnosed with any of the following critical illnesses.

  1. First Heart Attack -Of Specified Severity
  2. Open Chest CABG
  3. Kidney Failure Requiring Regular Dialysis
  4. MajorOrgan/Bone MarrowTransplant (Kidney, Liver, Lung and Heart)
  5. Open Heart Replacement or Repair Of Heart Valves
  6. Stroke Resulting in Permanent Symptoms
  7. Coma of Specified Severity
  8. Multiple Sclerosis with Persisting Symptoms
  9. Cancer of Specified Severity
  10. Permanent Paralysis of Limbs
  11. Benign Brain Tumour

Note – The above-mentioned critical illness should have been diagnosed to you after 90 days from the date of issuance or revival. You should survive for 30 days following the date of diagnosis of critical illness. Otherwise, no benefit shall be payable if you die within 30 days from the date of diagnosis.

Bharti AXA Life Hospi Cash Benefit Rider

This is one of the Bharti AXA Life Riders where the insured will get hospitalization cover in case of illness, injury or surgery. Some of the key features of Bharti AXA Life Hospi Cash Benefit Rider are –

  1. Hospitalization benefit for a minimum 48-hour continuous hospitalization
  2. Lump-sum benefit in case of surgery
  3. Affordable premium amount
  4. Tax benefits

Benefits payable under Bharti AXA Life Hospi Cash Benefit Rider

Daily Hospital Cash Benefit (DHCB) – Get a fixed cash benefit per day for each day of hospitalization, provided the policy is in force and the minimum period of hospitalization remains 48 hours. The DHCB is available up to 40 days in a policy year.

Intensive Care Unit (ICU) Benefit – A fixed benefit will be paid per day to the policyholder for each day of hospitalization in ICU, provided the policy is in force and the hospitalization lasts for 48 hours or more. The ICU benefit will be available for up to 10 days in a policy year.

Surgical Hospitalization Benefit (SHB) – If you are undergoing any valid and medically necessary surgery as specified by your attending medical practitioner, a lump sum benefit will be payable. In case you have undergone more than one surgical procedure during a single admission, a lump sum attracting the highest benefit will be payable to you. The SHB is capped at 90X the DHCB under Bharti AXA Life Hospi Cash Benefit Rider plan

Bharti AXA Life Hospi Cash Benefit Rider Benefit Schedule

At any point, during the term of the policy, you cannot switch between the below-mentioned benefit schedule;-

Silver

  1. DHCB - INR 1,000

  2. ICU Benefit - 100% of DHCB

  3. Major SHB - 20X DHCB

  4. Minor SHB - 5X DHCB

Gold

  1. DHCB - INR 2,000

  2. ICU Benefit - 100% of DHCB

  3. Major SHB - 20X DHCB

  4. Minor SHB - 5X DHCB

Diamond

  1. DHCB - INR 3,000

  2. ICU Benefit - 100% of DHCB

  3. Major SHB - 20X DHCB

  4. Minor SHB - 5X DHCB Valid

Bharti AXA Life Accidental Death Benefit Rider

With the Bharti AXA Life Riders, the nominee will get 100% of the rider sum assured in case of the death of the life assured. Key features of Bharti AXA Life Accidental Death Benefit Rider are:-

  1. Enhanced protection
  2. Flexible coverage term
  3. Flexible sum assured
  4. Tax benefits

This non-linked non-participating individual life insurance rider will give you the following benefits:-

  1. Sum assured under the rider will be payable to the policyholder/nominee in the event of the death of the life assured due to accident.
  2. Tax benefits will be admissible to your rider premium as per the prevailing income tax laws.
  3. The minimum premium amount for Bharti AXA Life Accidental Death Benefit Rider is INR 40 (offline purchase) and INR 25 (online purchase).
  4. Rider policy term – 5 years to 75 years – your entry age
  5. Sum assured – INR 50,000 – 50 lakh, but it can’t exceed the sum assured of the base policy.

Bharti AXA Life Group Accidental Death Benefit Rider

This Bharti AXA group rider will help you get extra protection for your family in case you die due to an accident. Key features of Bharti AXA Life Group Accidental Death Benefit Rider are:-

  1. Additional coverage
  2. Low premium
  3. Same coverage period as the base coverage
  4. Tax benefits

Death Benefit – The death benefit payout will be on a monthly reducing coverage depending on your rider sum assured, policy term and the company’s assumed interest rate. This benefit shall be payable to the nominee/beneficiary only if the insured member’s death is due to an accident.

Joint Life Cover Benefit – If there’s a co-borrower in your Bharti AXA Life Insurance, he/she can also avail coverage under this Bharti AXA Life Riders if he/she pays an additional premium besides the primary borrower premium amount. In this case, if any of the insured members first dies during the policy term, the death benefit will become payable to the surviving life assured and all benefits will cease.

Condition on Bharti AXA Life Group Accidental Death Benefit Rider

You should know that the company will pay your rider benefit only if the accidental death is defined as a traumatic death caused by external, violent, unforeseeable and visible means, and independent of any other causes. And such accidental death should be validated by the company within 90 days from such trauma.

Exclusions From Bharti AXA Life Riders

  1. Suicide or self-inflicted injury, whether sane or insane
  2. War, terrorism, invasion, an act of a foreign enemy, hostilities, civil war, martial law, rebellion, revolution, insurrection, military or usurped power
  3. Riot or civil commotion.
  4. Assault, criminal offense, illegal activity or any breach of law
  5. Liquor, drug, narcotic, medicine, sedative or poison abuse
  6. Participation in aviation other than as a fare-paying passenger
  7. Taking part or practicing any hazardous hobby, pursuit or any race
  8. Hazardous occupations like mining, deep-sea fishing, forestry and scuba diving
  9. Bodily or mental infirmity or disease

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