Why Choose Bharti AXA Life Group Loan Protect?
A comprehensive group credit protection product that safeguards your customer’s family in unforeseen circumstances, by paying an amount to settle your outstanding liability. This product provides an easy and inexpensive way of providing financial stability along with your existing offerings.
Convenient Premium Payment Terms
The plan offers the choice of three premium payment term options, single pay, limited pay and regular pay to protect the policyholder during the entire coverage term.
Sum Assured options
Group Loan Protect provides multiple coverage options on loan amount that allow the policyholder to customize the insurance cover requirements as per his outstanding liabilities.
Joint Life Coverage
Under this product, one additional life along with the primary borrower can also be covered.
You can enjoy Tax benefits on the Premiums paid and pay-out benefits received. The Tax benefits fall under Income Tax Act, 1961. They are subject to change as per changes in tax laws from time to time.
Joint Life Coverage
Multiple Coverage Options
Convenient Premium Payment Modes
How Does the Product Work?
Make your plan with ease
Pick a plan option
Choose one of the options, as per your financial goals.
Now, add a rider
You may enhance your protection under this Plan by opting for the following rider(s)
Bharti AXA Life Group Accidental Death Benefit Rider (UIN: 130B006V02):
Under this group accidental death benefit rider you will receive additional sum assured as chosen in case of unfortunate event of death due to any sudden accident.
The Premium pertaining to health related or critical illness riders shall not exceed 100% of premium under the Base Policy, the Premiums under all other life insurance Riders put together shall not exceed 30% of premiums under the Base Policy and any benefit arising under each of the above-mentioned Riders shall not exceed the Sum Assured under the Base Policy.
Please refer to the rider brochure for complete details on terms and conditions and exclusions before opting for the rider. Riders are optional and are available at an extra cost.
Insurance Jargon Explained
The payment made to a beneficiary upon the death of the insured person.
-- Whenever an unfortunate event happens, there is both emotional as well as financial loss. An insurance company helps you replace the financial/monetary loss through the Death Benefit, which helps maintain your family’s financial stability. This benefit includes both a guaranteed sum of money called as Sum Assured on Death and also the Accrued Bonuses, if applicable.
A provision attached to a policy that adds benefits not available in the original policy or that changes the original policy.
Riders help the Policyholder in enhancing the insurance product to meet specific needs by adding protection benefits to the basic Insurance Plan at a lower additional cost. For example, Bharti AXA Life Hospi cash rider provides fixed per day cash benefit to the Policyholder for each day of hospitalisation, thus providing benefits of a health plan along with base Life Insurance plan.
The payment, or one of the regular periodic payments, that a policyholder makes to an insurer in exchange for the insurer's obligation to pay benefits upon the occurrence of the contractually-specified contingency (e.g., death).
Sum assured is the amount that an insurer agrees to pay on the occurrence of a stated contingency (eg: Death).
**Tax benefits are in accordance to current tax laws that are subject to change from time to time.