Bharti AXA Life Group Term Micro Insurance Plan

(UIN:130N099V02)
(ADVT NO:II-Oct-2021-3337)

Buying a comprehensive group micro term insurance plan for your members/customers can foster an environment in which they can live with peace without worrying about life’s eventualities. It is a non-linked non-participating life insurance group term micro insurance plan. The plan offers two death benefit payout options that ensure optimum financial support along with flexibility. The product is designed to offer combination of lucrative features and flexibility to completely suit your organization and members’ requirements.

4 Reasons to Buy

  • Low-cost Insurance coverage : Now you can have insurance cover for a large group at low cost.

  • Death Benefit Payout Options : You have the flexibility to choose Death Benefit Payout option as Lumpsum or Lumpsum plus Monthly Income.

  • Flexible premium payment modes : Multiple options of paying premium in single, annual, semi - annual, quarterly, or monthly modes.

  • Tax Benefits : You may also be eligible for tax benefits on the premiums paid and pay-out benefits received. These tax benefits are as per Income Tax Act, 1961. They are subject to change as per change in tax laws from time to time.

Minimum Entry Age

18 years

Maximum Entry Age

69 years

Maximum Maturity Age

70 years

Minimum Sum Assured

Rs. 1,000

Maximum Sum Assured

Rs. 2,00,000

Policy Term

One Year Renewable Term : 1 year (Annually Renewable)

Fixed Policy Term :

  • Regular Pay: 2 – 5 years (Term will be in multiples of one year)
  • Single Pay: 1 month – 60 months (Term will be in multiples of one month)

 

Premium Payment Term

One Year Renewable Term/ Regular Pay/ Single Pay

Premium Frequency

Fixed Policy Term :

  • Single
  • Regular - Annual/ Semi-Annual/ Quarterly/ Monthly
One Year Renewable Term – Annual/ Semi-Annual/ Quarterly/ Monthly

 

Minimum Group Size

5 members

Mode (Frequency)

Frequency

Modal Factors

Annual

1

Semi-Annual

0.51

Quarterly

0.26

Monthly

0.0867