Insurance Plans India 268 views January 30, 2021

Looking for a plan that can provide financial protection to your family in case something unfortunate happens to you? Well, with the Bharti AXA Life Serv Suraksha Plan, you can ensure the same by making a single premium payment. It is a non-linked non-participating individual life insurance savings plan with which you can get a maturity benefit in case of survival. Other than this, your family will get a sum assured in case of your demise.

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If you want to know more about Serv Suraksha Plan, this page could be a good read for you as we will discuss its key features, policy term, the sum assured, benefits, etc. Keep reading to know more!

Key Features of Bharti AXA Life Serv Suraksha Plan

Bharti AXA Life Serv Suraksha Plan has a wide range of key features because of which it is so popular among the customers. Before choosing this plan from Bharti AXA Life, you should know those so that you can make the right decision. We are showing them below. Take a look!

  1. One of the best features of the Serv Suraksha Plan is that you don’t need to worry about premium payments every year or month. For this plan, you only need to pay a single premium to enjoy all the benefits under this plan.
  2. Your family will not need to worry about their financial future, in case you are not around later. In the case of your death, your family will receive a basic sum assured. With this feature, your family will stay protected throughout your policy term.
  3. You must be wondering for how many years you will enjoy the benefits of this plan. Well, when you opt for this life insurance plan, the benefits will be available for 5 years after the issuance of the policy.
  4. If you are not satisfied with the terms and conditions of the policy, you will get a free look period within which you can return the policy and get the premium amount back. This period can be either 15 days (in the case of an offline policy) or 30 days (through distance marketing).
  5. You can also enjoy tax benefits on the premium paid and benefits received under Section 80C and Section 10(10D) of the Income Tax Act, 1961, respectively.

What are the Single Premium Options that You Can Choose?

With this Serv Suraksha Plan, you can choose different single premium payment options. These options are INR 100, INR 500, and INR 1,000. You can choose from any of these options according to your convenience.

Let’s Understand the Bharti AXA Life Serv Suraksha Plan Benefit

Serv Suraksha Plan of Bharti AXA Life offers a wide range of benefits on maturity or at the time of a policyholder’s death. We are showing some of them below. Have a look!

Life Insurance Benefit

In case you die during the policy term, the nominee or beneficiary will receive a life insurance benefit, which will be the basic sum assured. Do remember that this benefit will depend on the single premium paid towards the policy as it will be equal to 25 times the single premium amount.

Maturity Benefit

If you survive until the end of the policy term, you will receive a maturity benefit equaling 110% of the single premium amount paid towards the policy.

What is the Surrender Value of Bharti AXA Life Serv Suraksha Plan?

You can surrender your policy after the free look period anytime during the policy term. The surrender value depends on the end of your policy term. Check out the table below to know the surrender value at different periods.

Policy YearSurrender Value
1st Policy year90% of the premium
2nd Policy year100% of the premium
3rd Policy year100% of the premium
4th Policy year102% of the premium
5th Policy year105% of the premium

What is the Entry Age of Serv Suraksha Plan?

When choosing the Serv Suraksha Plan, you should know about the entry age. Individuals aged between 18 years and 50 years of age can get this plan from Bharti AXA Life.

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