Bharti AXA Life Flexi Save Plan

Bharti AXA Life Flexi Save is an insurance plan that will help you achieve your different life goals and allows you to withdraw from your savings whenever you want them. Under Bharti AXA Life Flexi Save, you will get maturity benefits when you complete the policy term. Whereas if you don’t survive till the end of the policy term, the Bharti AXA Life Flexi Save plan will take care of your family’s financial needs with its death benefit. And there are three options of policy terms/premium payment terms for the customer. Sounds like a great plan to you! Know more about its features and benefits on the page below.

Benefits Under Bharti AXA Life Flexi Save

The life insured or his/her nominee will receive the following benefits –

Maturity Benefit – When your Bharti AXA Life Flexi Save plan term is completed, you will receive a maturity benefit of 100% of the sum assured plus the accrued reversionary and terminal bonus, if any.

Death Benefit – This benefit is for your nominee in case you die during the policy term, provided the policy is in force and all premiums are paid till the date of death. The nominee shall receive the highest of the following as a death benefit under Bharti AXA Life Flexi Save.

1.  Sum assured
2. 105% of all paid premiums till the date of death
3. A multiple of the annual base premium

Along with the above-mentioned benefits, the nominee will also receive the accrued reversionary bonus and terminal bonus, if any.

Advantages of Bharti AXA Life Flexi Save

The life insured gets the following advantages when he/she buys Bharti AXA Life Flexi Save

1. Limited premium payment term – You can choose your policy term and premium payment term from the following –

   Maturity Benefit (In INR) (A)	Amount Exempted from Tax (In INR) (B)	Amount on Which Tax Would Apply (In INR) (C)	Percentage of Tax on Your Maturity Amount (D)	Tax to be Charged (In INR) (E)	Amount You’ll Receive Post Tax Deduction (In INR) (A-E)
   50,00,000	1,00,000	49,00,000	10%	4,90,000	45,10,000

2. Potential upside through bonuses such as non guaranteed simple reversionary bonuses declared at the end of each policy year starting from the end of the first policy year. There is also a terminal bonus under the Bharti AXA Life Flexi Save plan, which is declared in case of death or maturity, whichever is earlier.
3. Flexi benefit period – During this period, you can prepone your maturity benefit and avail of 100% of the sum assured, accrued bonuses and terminal bonus, if any. Check out the table below and know when your flexi benefit period starts as per your policy term/premium payment term.

   Policy Term (in years)	Premium Payment Term (in years)	Flexi Benefit Period
   20	5	From the end of the 10th policy year
   25	7	From the end of the 15th policy year
   30	12	From the end of the 20th policy year

Note – When Bharti AXA Life Flexi Save completes its policy term, it will have the full maturity benefit and, therefore, no surrender and paid-up benefit will apply to it.

Optional Rider for Enhanced Protection Under Bharti AXA Life Flexi Save

If the customer wants additional cover under the Bharti AXA Life Flexi Save policy, they can do so by paying an extra premium for the rider policy. Bharti AXA Life Flexi Save comes with the following rider –

Bharti AXA Hospital Cash Rider – With the help of this rider policy, the life insured can get a fixed benefit on each day of hospitalization. And in case of surgery, the company will pay a lump sum benefit to the life insured as per the rider policy benefits.

Eligibility for Bharti AXA Life Flexi Save Plan

An individual can purchase the Bharti AXA Life Flexi Save plan if he/she meets the following –

1. The minimum age at entry 

   Policy Term (in Years)	Minimum Age at Entry (In Years)
   20	8
   25	3
   30	0

2. The maximum age at maturity is 85 years
3. The maximum age at entry

   Policy Term (in Years)	Minimum Age at Entry (In Years)
   20	65
   25	60
   30	55

Bharti AXA Life Flexi Save Terms and Conditions

1. A participating traditional life insurance policy
2. The minimum sum assured will depend on your minimum premium amount
3. Three policy term options are available to you – 20, 25 and 30 years
4. There are 4 types of premium payment modes available – annual, half-yearly, quarterly and monthly
5. The minimum annual base premium is as follows:-

   Policy Term (In Years)	Minimum Annual Base Premium (In INR)
   20	30,000
   25	24,000
   30	15,000

6. If you disagree with any of the policy terms and conditions, you can return the policy bond, along with a letter stating the reason for cancellation, within 15 days of the free look period. When you cancel your policy during this period, you will get a refund of paid premiums, less medical examination fees and stamp duty charges if incurred by the company.
7. The nominee will get the paid premiums as on the date of death if the life insured commits suicide within a year from the date of issuance of the policy
8. The nominee will get either 80% of the paid premiums or the policy surrender value if the life insured commits suicide within one year from the date of revival of the policy
9. A flexi year can be chosen as per the flexi benefit period only