Investment Plans 252 views January 25, 2021

Bharti AXA Life Smart Jeevan Plan helps individuals protect themselves and their loved ones in the right way. This is a non-linked non-participating individual life insurance savings plan from Bharti AXA and could suit you if you are looking to secure your family’s future in case you are not around. One of the best features of this plan from Bharti AXA is that individuals can get their 100% premium amount back by the time the policy matures.

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Want to know more about Bharti AXA Life Smart Jeevan Plan? Well, we are going to discuss its key features, benefits, the sum assured, premium amount, premium payment term, eligibility criteria, etc. So, without any further delay, let’s get to it!

Reasons to Choose Bharti AXA Life Smart Jeevan Plan

You would want to choose a life insurance plan that can manage your family’s lifestyle even when you are not around. Bharti AXA Life Smart Jeevan Plan can ensure the same. But before choosing this plan, you should understand some of its key features that we are mentioning below. Please check!

  1. One of the best features of the Smart Jeevan Plan is that individuals will get the option to receive protection for 12 years, in case something unfortunate like a death happens, by paying an affordable premium amount.
  2. Talking about premiums, individuals will also receive all the premiums paid over the policy term as maturity benefit. The company can return 100% of the premium paid by the policyholders. So at the end of 12 years, you will be assured of the return of your investment.
  3. Individuals will also get a grace period of 15 days (for monthly premium payment mode) or 30 days (for other payment modes) from their premium payment due date within which they can pay the premium amount without having any impact on the benefits under the policy.
  4. This policy from Bharti AXA will acquire a surrender value after two consecutive payments of the annualized premium made by the policyholder. This amount will be calculated as the guaranteed surrender value factor (depends on the policy year) into the total premiums paid.
  5. This policy will also provide tax benefits on the premiums paid and maturity benefit received under Section 80D and Section 10(10D) of the Income Tax Act, 1961, respectively.
  6. Policyholders will also get a free look period of 15 days or 30 days within which they can return the policy upon finding the terms and conditions unsatisfactory.

What Will be the Sum Assured Under Bharti AXA Life Smart Jeevan Plan?

The minimum sum assured that an individual will get under this plan from Bharti AXA stands at INR 50,000, while it can go as high as INR 5 lakh.

What is the Policy Term and Premium Payment Term?

In the case of Smart Jeevan Plan, you can choose a policy term of 12 years. On the other hand, when we talk about the premium payment term, it will be the same as the policy term i.e. 12 years.

What will be the Minimum Premium Amount for Bharti AXA Life Smart Jeevan Plan?

You would need to pay a certain amount towards your policy known as the premium amount. In the case of Smart Jeevan Plan, the premium amount will depend on the sum assured chosen by the policyholder and can be as low as INR 323 per annum. Also, the premium amount will be different from standard and substandard lives. Policyholders can also choose from different premium payment modes 一 monthly, quarterly, semi-annual or annual.

Let’s Understand the Benefits of the Bharti AXA Life Smart Jeevan Plan in Detail

Smart Jeevan Plan provides a range of benefits to policyholders that we are mentioning below. Please check!

Death Benefit

The company will pay an amount to the nominee or beneficiary as the death benefit in case the policyholder dies during the policy term. This sum assured on death will be highest of the following –

  1. 11 times the annualized premium
  2. 105% of all the premium paid up to the date of death
  3. Absolute amount assured to be paid on the date of death equal to the base sum assured
  4. The guaranteed sum assured on maturity

Maturity Benefit

If a policyholder survives until the end of the policy term, the company will pay a maturity benefit equaling 100% of the premiums paid during the policy term of 12 years.

Bharti AXA Life Smart Jeevan Plan Eligibility Criteria

We are mentioning some of the important conditions related to the entry and maturity age of the Smart Jeevan Plan below. Please check!

  1. The minimum entry for this policy stands at 18 years, while the maximum can be 50 years.
  2. Coming to the age at the time of maturity, an individual can be a maximum of 62 years.

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