Bharti AXA iProtect Plan is a pure Term Plan which can be purchased online. This is a pure protection plan for Sum Assured of Rs. 25 lakhs and more. This plan is a Traditional Plan without profit.
In this plan, premium needs to be paid till the end of the policy tenure. The Sum Assured would be paid to the nominee is the Life Insured dies within the Policy tenure. This being a pure Term Plan, nothing would be paid if the Life Insured survives the entire policy tenure as Maturity Benefit.
Key Features
It is a pure Term Insurance Policy with Death Benefit
This plan has only Death Benefit and no Maturity Benefit
The minimum Sum Assured is Rs. 25 lakhs
This plan has the Family Care Benefit option, where a cheque of Rs. 1 lakh is paid immediately within 48 hours of claim submission to take care of immediate expenses before verification
This policy offers reduced premium for non-smokers policyholders
Benefits
Death Benefit – In case of death of the Life Insured, the nominee gets the Sum Assured as the Death Benefit.
Maturity Benefit – Being a pure Term Plan, there is no Maturity Benefit.
Income Tax Benefit - Life Insurance premiums paid up to Rs. 1, 00,000 are allowed as a deduction from the taxable income each year under section 80C.
Eligibility conditions
Minimum Maximum
Sum Assured (in Rs.) 25,00,000 No Limit
Policy Term (in years) 10 30
Premium Payment
Term (in years) Equal to Policy Term
Entry Age of Life
Insured (in years) 18 60
Age at Maturity (in years) - 75
Premium (in Rs.) - -
Payment modes Yearly and Half-Yearly only
Additional Features
Riders – There are no additional riders available in this policy
Surrender the policy
There are no Surrender Benefits of this plan.