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Online Premium Payment 1175 views June 28, 2021
Premium payment of your policy is one of the important things to ensure if you want to enjoy its benefits without any break. Want to know everything about several important aspects of the Bharti AXA Life Insurance Premium Payment?
Well, on this page, we will talk about different premium payment modes and methods to revive your lapsed policy. Read on to know more!
Table of Contents
One of the biggest worries that people have after purchasing a life insurance policy is its timely premium payment. Bharti AXA allows you to pay your premium both online and offline.
We are going to discuss them in detail. Please check!
You can make the Bharti AXA Life Insurance Premium Payment online in a few simple steps mentioned below.
You can use AMEX, Diners, Master or Visa Credit Card to make the payment. For Debit Card payment, Bharti AXA accepts the following banks’ services.
You can also log in to the net banking account of the partner banks of Bharti AXA to make instant payments. You don’t need any registration for this facility. The list of partner banks is as follows.
Bharti AXA also offers the option to receive and pay your premiums electronically via your net banking account with the following banks.
To make the payment, you will need to register on your bank’s official website. Once you are registered, the bill for your premium payment will be available on your next payment date. You can choose between the View & Pay or Auto Pay option to make the payment. Do remember that your bill will be available for 10 days before the renewal premium due date.
If you have a Visa-enabled credit or debit card, you can make the Bharti AXA Life Insurance Premium Payment by simply registering on the official website of the Visa Bill Pay. Once your details are validated, you will receive your premium bill electronically.
Bharti AXA allows you to pay the premium through your phone anytime. For this, you will only need to call the Bharti AXA customer care and request for the IVR payment services.
You will need to provide your credit card (VISA or Master) details by which the premium amount will be debited online regularly.
With this facility, you get the option to make Bharti AXA Life Insurance Premium Payment directly from your bank account. For this, you only need to submit the Auto Pay form with a cancelled cheque to any of the nearest Bharti AXA Life Branches.
If you are living in a non-ECS location, you can use this method. To enroll yourself, you will need to submit the ECS or Direct Debit Mandate with a cancelled cheque. This payment method is available to the account holders of the following banks.
You can also use your credit card (Master/ Visa/ Amex/ Diners) to pay your premiums automatically. Just submit the credit card authorization form PDF and photocopy of the front side of the credit card to the nearest Bharti AXA Life Branch.
Other than online payment methods, you can also pay the premium of your Bharti AXA Life Insurance Policy via cash or cheque at any of the nearest branch offices.
In the case of the cheque payment, you will need to draw it in favor of ‘BHARTI AXA LIFE INSURANCE COMPANY LIMITED POLICY NUMBER XXXXXXXXXX’ by mentioning your name and contact number on the reverse of the cheque. You can also make premium payments at AXIS or YES Bank Branches.
Note: The maximum cash payment accepted by Bharti AXA stands up to INR 49,999.
If you want to change the premium payment mode, you can do that by submitting the following –
You should submit your request at least 15 days before the due premium payment date.
If you do not pay the premium towards your policy within the due date and grace period, your policy will lapse. In that case, the customer will need to pay the interest at 8% on the overdue premiums.
Bharti AXA will not charge any interest on the overdue premium within 90 days. Instead, it will be calculated on the total number of days elapsed (factored on the pro-rata basis as the number of days divided by 365).