Why Choose Bharti AXA Life Group Term Insurance Plan?

Bharti AXA Life Group Term Insurance Plan

A Non-Linked Non-Participating One Year Renewable Group Term Life Insurance Plan

Rest Assured, When You Get Insured with Bharti AXA Life Group Term Insurance Plan!

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#HassleFree

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<ul>
	<li>A Non-Linked Non-Participating One Year Renewable Group Term Life Insurance Plan</li>
	<li>Rest Assured, When You Get Insured!</li>
</ul>


<h1><span class="small-heading">Bharti AXA Life</span><br />
Group Term Insurance Plan</h1>


Low-cost Insurance

Hassle Free Insurance Coverage

Retention Tool

Flexible Premium Payment Modes

Tax Benefits**

Key Benefits

<section class="blog">
<div class="blog-content">
<h2 class="section-main-heading">What is group term life insurance?</h2>

<p>Many people are still very much confused when it comes to group term life insurance. In simple words, a group <a href="https://www.bhartiaxa.com/be-smart/term/what-is-term-life-insurance" target="_blank" title="term life insurance">term life insurance</a> can be defined as a contract which is issued to a person to cover more than one person. Usually, it is the companies or brands which opt for such group term life insurance. Group term life insurance given by the employer to the employee offers to cover the family members of the employee. If you think that it is not possible to have group term life insurance and an individual <a href="/life-insurance" target="_blank" title="life insurance policy">life insurance policy</a> at the same time you are wrong as both can exist at a time. The employee of the company becomes eligible for this <a href="https://www.bhartiaxa.com/group-plans/group-term-insurance-plan" target="_blank" title="group term insurance">group term insurance</a> from day one of joining the company/ organization.</p>
</div>
</section>

<section class="blog">
<div class="blog-content">
<h2 class="section-main-heading">How does group term life insurance work?</h2>

<p>According to the research conducted by the Society for Human Resource Management that somewhere around 80% of companies across the globe offer its employees the paid group term life insurance as one of the many benefits. There are a certain set of eligibility requirements which an individual has to meet in the company to become eligible for the same like he/she should be a permanent employee or must have completed at least 30 days in the company, etc. Along with this group term, life insurance can also be adjusted by the employee for qualifying different life events and the time of open-employment.</p>

<p>Usually, the amount of coverage of this group term life insurance is equivalent to the annual salary of the employee. Under this group term insurance, the employees get paid for all the premiums relating to basic coverage by the employer and at times extra premium is also paid to the employees.</p>

<p>Readers should note that once an employee leaves or changes the company, he or she cannot carry forward this group term life insurance with him or her.</p>

<h2 class="section-main-heading">What are the requirements of a group term life insurance?</h2>

<p>In the most common scenario, all the employees of the company/organization become entitled to the coverage of group term life insurance once they meet all the eligibility requirements. However, these requirements of eligibility may vary from one company to another. There will be times when the employee will only become eligible for the cover once he/she has qualified a certain life event.</p>

<p>In case if you are wondering about the process of getting the group term <a href="https://www.bhartiaxa.com/online-insurance-plans" target="_blank" title="insurance cover">insurance cover</a> then let us tells you that it is a quick and easy underwriting process during which the employee has to answer the questions asked to him by the company/organization.</p>

<h2 class="section-main-heading">What are the benefits of having a group term life insurance?</h2>

<p>There is no hiding from the fact that group <a href="https://www.bhartiaxa.com/be-smart/term/top-7-features-of-term-life-insurance-policy" target="_blank" title="term life insurance offer">term life insurance offer</a> employee's proper financial assistance and the much-needed financial independence as well from their employer. If you want to know more about this <a href="https://www.bhartiaxa.com/life-insurance/types-of-insurance" target="_blank" title="type of term insurance">type of term insurance</a>, then read the below-mentioned benefits of having group <a href="https://www.bhartiaxa.com/be-smart/term/importance-of-buying-term-life-insurance-policy-in-india" target="_blank" title="term life insurance policy">term life insurance policy</a>.</p>

<h2 class="section-main-heading">Default insurance cover</h2>

<p>There is no much one has to do to become eligible for the group term insurance because an employee automatically becomes eligible for it by just being part of the company/organization. This group term life insurance is best to provide basic insurance to people who at present do not have a personal life insurance policy.</p>

<h2 class="section-main-heading">Gratuity Funding</h2>

<p>In today's date all thanks to group term insurance that the employees now have access to a systematic method of arranging for funds for the future in the form of gratuity liabilities. The life cover is provided to the employees easily.</p>

<h2 class="section-main-heading">Tax Benefits</h2>

<p>The next benefit of group term life insurance is the <a href="https://www.bhartiaxa.com/term-insurance/term-insurance-tax-benefits" target="_blank" title="tax benefits">tax benefits</a> it gives to both the employer and the employee as well. According to the current Tax Laws and death, benefits are given to the employee is always exempted from the tax under section 10(10D) of the Income Tax Act. This group term insurance is helpful for the employee in two ways- employee welfare as well as retention.</p>

<h2 class="section-main-heading">It can be customized to suit the employee needs</h2>

<p>Another benefit of group term life insurance is that it can be customized to suit the needs of the employee with add-ons for education allowance, repatriation allowance, accidental death and more with the basic cover as well.</p>

<h2 class="section-main-heading">No medical check-ups</h2>

<p>Do you know that once you will have the group term life insurance cover you will be freed from the task of undergoing medical check-ups with your own cost as the company will be paying for the same?</p>

<h2 class="section-main-heading">It is cost-effective</h2>

<p>When we sit to compare the premiums of all the term life insurance, the premium of group term life insurance is way too less than the usual <a href="/term-insurance">term insurance</a>.</p>

<h2 class="section-main-heading">Economic options for both- employer and employee</h2>

<p>The best part about group term life insurance is that every year it is renewed, and it comes with a grace period which is mentioned on the main documents of the policy. With this cover, the employee is able to save a lot on the taxes because the premium which is paid for the same is listed under the business-related expenses. The reason why this group term insurance is great and economic for the employer as well because the cost of insurance cover for every individual is way too costly when compared to the cost of group cover.</p>

<h2 class="section-main-heading">Worldwide coverage</h2>

<p>Last but not the least, another benefit of group life term insurance is that I offer the employee the worldwide coverage. This means that if the policyholder dies in a foreign land then in that case also the nominee will receive the payout of the <a href="https://www.bhartiaxa.com/life-insurance/life-insurance-benefits" target="_blank" title="policy benefits">policy benefits</a> in India.</p>

<h2 class="section-main-heading">Things you should keep in mind while signing your group term life insurance policy</h2>

<p>Now that you are aware of what is group life term insurance and also about the benefits of the same, we would like to conclude this blog by mentioning a few important things which one should keep in mind before you sign the policy papers.</p>

<div>
<ol class="bhartiaxa-order-list">
	<li>
	<h3 class="section-sub-heading">Always read all the terms and conditions carefully</h3>

	<p>One of the biggest and most common mistakes people make while signing the policy paper is that they don't read the terms and conditions properly and then at the time of filing the claims they are rejected. If you don't want the same happening to you as well, then read the information carefully.</p>
	</li>
	<li>
	<h3 class="section-sub-heading">Be honest with the details you fill in the policy form</h3>

	<p>The second thing which one should keep in mind before signing the final policy papers is that you should be honest about all the details including your health so that there is no confusion later.</p>
	</li>
	<li>
	<h3 class="section-sub-heading">Don't refrain from asking any questions</h3>

	<p>Last, if you want to ask any question then do not refrain from doing the same so that you are aware of everything related to the group term life insurance policy.</p>

	<p>We hope that our readers have enjoyed reading the blog and got all the information they had been looking for. If our readers want to know something more specific, then they can reach us through the comment section given below.</p>
	</li>
</ol>
</div>
</div>
</section>


<p>Many people are still very much confused when it comes to group term life insurance. In simple words, a group term life insurance can be defined as a contract that is issued to a person to cover more than one person. Usually, it is the companies or brands which opt for such group term life insurance.</p>


Types of Investment Plans

Benefits of Group Term Life Insurance Plans

<section class="blog">
<div class="blog-content">
<p>With the rising uncertainties in life, having an insurance cover has become crucial, especially in the post-pandemic world. There are various kinds of insurance plans that you can choose from, but you need to make sure you’re opting for the plan that suits your requirements and financial conditions. This requirement increases manifolds in the case of salaried employees who need to cover their financial requirements with a stipulated cash flow.</p>

<p>This is why it is essential to understand the contours of the policy and <a href="https://www.bhartiaxa.com/be-smart/life/tips-to-choose-the-best-life-insurance-policies" target="_blank" title="choose the best insurance plan">choose the best insurance plan</a> for salaried employees. But how to make this choice? Here we talk about a few of the <a href="/online-insurance-plans" target="_blank" title="best insurance plans">best insurance plans</a> for salaried employees to help you make an informed decision.</p>
</div>
</section>

<section class="blog">
<div class="blog-content">
<h2 class="section-main-heading">ULIP for Salaried Employees</h2>

<p>ULIP is amongst the best insurance plans for salaried people. <a href="/ulip-plans" target="_blank" title="ULIP">ULIP</a> provides benefit of insurance and investment in one policy that helps to achieve the goal of wealth creation and along with life cover. These plans are designed to help you meet your financial goals while also providing a safety net to you and your loved ones.</p>

<p>While these <a href="/investment-plans" target="_blank" title="investment plans">investment plans</a> can be incredibly lucrative, it is important to make the right choice while selecting a ULIP plan for yourself. Here’s a quick guide to choosing the best Unit Link Insurance Plan for salaried persons.</p>

<ul>
	<li>Keep your financial goals in mind</li>
	<li>Calculate an appropriate life insurance cover amount</li>
	<li>Stay invested for a long term</li>
	<li>Be mindful of the ULIP charges and choose a plan you can comfortably afford</li>
	<li>Please note, ULIP is a market-linked product, the returns depend on the market conditions and performance of funds.</li>
</ul>
</div>
</section>

<section class="blog">
<div class="blog-content">
<h2 class="section-main-heading">Guaranteed Income Plans for Salaried Employees</h2>

<p>We’re all driven by certain life goals. These could be related to things like our child’s education, their wedding, and our retirement plans to name a few. However, these dreams can only be fulfilled if we’re financially capable. As salaried employees, we depend on a single source of income which increases our financial vulnerability, and even the smallest mishappening can diverge us from our journey towards our financial goals.</p>

<p>Therefore, it is important to have an additional source of income that can come in handy during difficult times. A <a href="https://www.bhartiaxa.com/savings-plans/guaranteed-income-pro" target="_blank" title="guaranteed income insurance plan">guaranteed income insurance plan</a> acts as this secondary income and can significantly enhance your financial security.</p>

<p>If you’re wondering what a guaranteed income insurance plan is, it is essentially a life insurance product that allows you to save and create a corpus to meet your future needs. Savings plans also provide insurance coverage, ensuring that your family’s financial needs are satisfied even if you are not there to provide for them. These are undoubtedly one of the best insurance plans for salaried people.</p>

<p>Having said this, you must be mindful while exploring your options and make sure to pick the most appropriate insurance plan for salaried persons. Here are a few things that can help you make the right choice:</p>

<ul>
	<li>Be clear on your financial objectives</li>
	<li>Compare different plans</li>
	<li>Explore different riders</li>
	<li>Select your savings timeframe</li>
</ul>
</div>
</section>

<section class="blog">
<div class="blog-content">
<h2 class="section-main-heading">Term Insurance Plans for Salaried Employees</h2>

<p>We all wish to safeguard our families and provide them with financial security. But what about when we’re no longer around to ensure this ourselves? This is when a life insurance plan comes into the picture. This is one of the most important insurance plans for salaried employees with limited savings to secure their families’ stable future. <a href="/term-insurance" target="_blank" title="Term life insurance">Term life insurance</a> is a <a href="/life-insurance/types-of-life-insurance-policy" target="_blank" title="type of life insurance">type of life insurance</a> that provides financial protection in the case of the life assured’s demise within the policy term It is a <a href="/life-insurance" target="_blank" title="life insurance policy">life insurance policy</a> that offers financial protection and coverage to the policy beneficiary if the insured passes away during the active period of the term insurance plan.</p>

<p>Here’s how to choose the best term insurance plans for salaried persons.</p>

<ul>
	<li>Examine the necessary financial requirements of your family</li>
	<li>Decide the insurance plan’s tenure</li>
	<li>Compare costs and benefits</li>
</ul>
</div>
</section>

<section class="blog">
<div class="blog-content">
<h2 class="section-main-heading">Health Insurance for Salaried People</h2>

<p>It is advisable for salaried people to go for the best insurance plan that offers maximum health coverage and protects you financially against any medical emergency. You can also opt for <a href="/health-plans" target="_blank" title="Health Insurance">health insurance</a> riders over other insurance policies at additional costs</p>

<p>Like any other investment, an insurance plan for salaried persons also requires ample research. Keeping these points in mind will help you make the most of your insurance plans and cater to your financial needs with ease.</p>
</div>
</section>


<p>With the rising uncertainties in life, having an insurance cover has become crucial, especially in the post-pandemic world. There are various kinds of insurance plans that you can choose from, but you need to make sure you’re opting for the plan that suits your requirements and financial conditions. This requirement increases manifolds in the case of salaried employees who need to cover their financial requirements with a stipulated cash flow.</p>


Best Insurance Policy

 How to select the best Insurance Plan for Salaried Individuals

<section class="blog">
<div class="blog-content">
<p>Traditional Insurance Plans primarily offer a combination of protection and <a href="https://www.bhartiaxa.com/be-smart/savings/6-features-of-savings-plans" target="_blank" title="savings benefits">savings benefits</a> to customers. Popular Traditional Insurance Plans are the <a href="/savings-plans/super-endowment-plan" target="_blank" title="Endowment Insurance Plans">Endowment Insurance Plans</a> and the <a href="https://www.bhartiaxa.com/be-smart/term/whole-life-insurance-vs-term-insurance-top-differences" target="_blank" title="Whole Life Insurance Plans">Whole Life Insurance Plans</a>. These plans broadly include features such as life insurance cover, guarantees, returns, safety and <a href="https://www.bhartiaxa.com/term-insurance/term-insurance-tax-benefits" target="_blank" title="tax benefits">tax benefits</a>. Traditional policies are considered risk-free, as they provide fixed returns in case of death or maturity of the policy. Investment guidelines given by the regulator (<a href="https://www.bhartiaxa.com/be-smart/life/new-policy-by-irdai-need-to-know-for-insurance-awareness" target="_blank" title="IRDA">IRDA</a>) also ensure safety of funds with a cap on equity investment for the underlying participating fund in which all monies are invested.</p>

<p>Here are some of the reasons that tell you how traditional <a href="/savings-plans">savings insurance plans</a> are beneficial for you:</p>
</div>
</section>

<section class="blog">
<div class="blog-content">
<div>
<ol class="bhartiaxa-order-list">
	<li>
	<h3 class="section-sub-heading">Customer comes first</h3>

	<p>In participating plans, the company can earn margins only when the customer earns margins which means the interest of the company and the customer are aligned.</p>

	<p>As per the insurance law, the company can retain only 1/10th of the profits with 9/10th of the profits being shared with the customers. This is known as the "90/10" rule (As per IRDA (Distribution of Surplus, Regulations 2002) in the insurance industry. For example: If the company makes Rs 100 as profits, Rs 90 has to be given to the customer first.</p>
	</li>
	<li>
	<h3 class="section-sub-heading">Investment risk is borne by the company instead of customer</h3>

	<p>In Unit Linked products the investment risk lies with the customer. On the other hand, in traditional participating products, this risk lies with the company. Traditional <a href="https://www.bhartiaxa.com/online-insurance-plans" target="_blank" title="Insurance Plans">Insurance Plans</a> are apt for customers who are risk averse and do not actively participate in managing the investment.</p>
	</li>
	<li>
	<h3 class="section-sub-heading">Easier to understand</h3>

	<p>Traditional participating plans offer in-built guaranteed benefits hence the 'give and get' equation is simple to comprehend. The product benefits are specified at the outset with lesser dependencies on external factors, making the product extremely simple to understand.</p>

	<p>All in all, Traditional Insurance Plans are an ideal fit for the passive investors as they provide dual benefits of guaranteed returns and protection. If your investment objective is long term savings with safety and guaranteed returns, then Traditional Insurance Plans are the best investment product for you.</p>
	</li>
</ol>
</div>
</div>
</section>


<p>Traditional Insurance Plans primarily offers a combination of protection and savings benefits to customers. Popular Traditional Insurance Plans are the Endowment Insurance Plans and the Whole Life Insurance Plans. These plans broadly include features such as life insurance cover, guarantees, returns, safety, and tax benefits.</p>


A traditional Life Insurance Plans

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Bharti AXA Life Group Term Insurance Plan – Low Cost Insurance Cover

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Bharti AXA Life Group Term Insurance Plan offers flexibility to choose death benefit payout options, premium payment mode, and insurance at a low cost. Check out for more benefits!

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<div class="plan-title">Invest Rs. 5,000<sup>#</sup>/Month for 10 years | Get Rs. 14,39,764<sup>^</sup></div>
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How does the plan exactly work?

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<div class="plan-name">Bharti AXA Life Shining Stars</div>

<div class="plan-title">Invest Rs. 6,000<sup>#</sup>/Month for 10 years | Get Rs. 12,46,263<sup>^</sup></div>
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Why Bharti AXA Life Shining Stars is the Right Choice for You

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<div class="plan-name">Bharti AXA Life Wealth Pro</div>

<div class="plan-title">Invest Rs. 5,000<sup>∼</sup>/Month for 10 years | Get Rs. 19.58L at 8% or Rs. 9.15L at 4%</div>
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<table width="100%">
	<tbody>
		<tr>
			<td>
			<p>Minimum Entry Age</p>
			</td>
			<td>
			<p>18 years</p>
			</td>
		</tr>
		<tr>
			<td>
			<p>Maximum Entry Age</p>
			</td>
			<td>
			<p>69 years</p>
			</td>
		</tr>
		<tr>
			<td>
			<p>Maximum Maturity Age</p>
			</td>
			<td>
			<p>70 years</p>
			</td>
		</tr>
		<tr>
			<td>
			<p>Minimum Sum Assured</p>
			</td>
			<td>
			<p>Rs. 5,000</p>
			</td>
		</tr>
		<tr>
			<td>
			<p>Maximum Sum Assured</p>
			</td>
			<td>
			<p>No Limit,<br />
			Subject to Board Approved Underwriting Policy</p>
			</td>
		</tr>
		<tr>
			<td>
			<p>Policy Term</p>
			</td>
			<td>
			<p>1 year</p>
			</td>
		</tr>
		<tr>
			<td>
			<p>Minimum Group Size</p>
			</td>
			<td>
			<p>50 members</p>
			</td>
		</tr>
	</tbody>
</table>


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View all Jargon

<p>It is the amount which the insurance company pays to the policy holder on the completion of the Policy Term, if the Life Insured has survived the entire duration of the Policy. This amount includes the guaranteed sum of money called as Sum Assured on Maturity and also the Accrued Bonuses, if applicable.</p>


Maturity Benefit

<p>Insurance covering a number of people under a single policy, issued to their employer with whom they are working.</p>


Group Insurance

<p>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).</p>


Premium

<p>Sum assured is the amount that an insurer agrees to pay on the occurrence of a stated contingency (eg: Death).</p>


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