Bharti AXA Life Jan Suraksha
(UIN: 130N040V02) (ADVT No. II-Jul-2022-4085)
One Year Renewable Term Group Life Insurance Plan
A plan for micro-financial institutions!
Why Choose Bharti AXA Life Jan Suraksha?
A product mainly meant for micro-financial institutions offering small ticket loans to the self-employed individuals, NGOs or similar institutions working for development of the economically weaker sections of the society.
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Protection for Your Group Members
Death benefit is paid in event of death of the life insured by the company to the beneficiary.
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Spouse Cover
You can opt for a spouse cover along with this plan.
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Single Premium
Pay a single lump sum payment for the entire year.
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Tax Benefits
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.
Key Benefits
Spouse Cover
Single Premium
Group Protection
Tax Benefits**
How does the plan exactly work?
You gain at every stage
Death Benefit
The Death Benefit is equal to the amount of coverage provided to the Life Insured.
In the event of death of the Life Insured, and in the case of spouse cover opted as well, the death of either of the Lives Insured, while the Coverage is in force, the Death Benefit shall be payable by the Company to the Beneficiary of the Life Insured.
In the event of spouse cover opted, the policy terminates on payment of the death benefit of either of the Lives Insured.
Tax Benefits
You may be eligible for the tax benefits on the premiums paid along with the benefits received, subject to the prevailing provisions. The tax benefits are subject to change as per the change in tax laws from time to time.
Insurance Jargon Explained
Death Benefit
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.
Group Insurance
Insurance covering a number of people under a single policy, issued to their employer with whom they are working.
Premium
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
Sum assured is the amount that an insurer agrees to pay on the occurrence of a stated contingency (eg: Death).
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**Tax benefits are in accordance to current tax laws that are subject to change from time to time.