Bharti AXA Life
Flexi Term Plan

In case of unfortunate event of death of the Life Insured during the Policy Term, the following benefits will be payable to the Nominee, subject to Policy being in force. The Death Benefit will be highest of :

• 10 times Annualized Premium*
• 105% of all premiums paid as on date of death
• Absolute amount assured to be paid on death equal to the Base Sum Assured under the Policy
• Guaranteed Sum Assured on Maturity which is zero under this product

* Annualized Premium does not include taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.

The Death Benefit shall become payable on/from the date of intimation of death, subject to acceptance of the claim by the Company.

At the inception of the Policy, the Life Insured has an option to choose one of the following Death Benefit Payout Options :

• Lumpsum : Entire Death Benefit will be payable as a lumpsum
• Monthly Income : Death Benefit will be payable as monthly income for 15 years increasing annually by 10% at simple rate. The payout schedule will be as follows :

  Years	% of Death Benefit payable monthly
  1	5.828% / 12
  2	6.411% / 12
  3	6.994% / 12
  4	7.577% / 12
  5	8.16% / 12
  6	8.742% / 12
  7	9.325% / 12
  8	9.908% / 12
  9	10.491% / 12
  10	11.074% / 12
  11	11.656% / 12
  12	12.239% / 12
  13	12.822% / 12
  14	13.405% / 12
  15	13.988% / 12

• Lumpsum plus Monthly Income : 50% of Death Benefit will be payable as a lumpsum and the remaining amount will be paid as monthly income for 15 years increasing annually by 10% at simple rate.
  Lumpsum Payout = 50% of Death Benefit
  Monthly Income Payout = payout schedule is as follows

  Years	% of Death Benefit payable monthly
  1	2.914% / 12
  2	3.206% / 12
  3	3.497% / 12
  4	3.789% / 12
  5	4.080% / 12
  6	4.371% / 12
  7	4.663% / 12
  8	4.954% / 12
  9	5.246% / 12
  10	5.537% / 12
  11	5.828% / 12
  12	6.120% / 12
  13	6.411% / 12
  14	6.703% / 12
  15	6.994% / 12

Under the Death Benefit Payout Options ii) and iii), the Nominee will have an option to take the Death Benefit (Monthly Income) as a lumpsum. This option will be available at the time of Death before the payment of first instalment. The lumpsum will be calculated as a present value of Monthly Incomes at 5% per annum rate of interest, the rate may be revised subject to prior approval from IRDAI.

In case of occurrence of any of the covered critical illnesses, as per the chosen coverage option (as defined below), the Sum Assured on Critical Illness will be payable to Life Insured, subject to Policy being in-force on the date of occurrence of critical illness of Life Insured and all due premiums have been paid.

Critical Illness is any illness mentioned in the list of 34 critical illnesses as defined below and as per the critical illness option chosen. The plan offers two different Critical Illness options – (i) Comprehensive Cover (ii) Major Illness Cover. Under Comprehensive Cover, all the 34 critical illnesses are covered. Under Major Illness Cover, 15 critical illnesses as highlighted in the below table are covered. Critical Illness benefit is payable on survival of the life insured for a period of 30 days from the date of occurrence of covered Critical Illness. For further details, refer section V on ‘Conditions for c Benefit.

Critical Illness options You can select from any of the below mentioned coverage options, only at the Inception of the Policy

*Represents inclusion of the respective Critical Illness in a particular option

** In case of Angioplasty, Critical Illness Benefit equal to ₹ 5,00,000 will be payable. The Critical Illness Sum Assured will reduce by ₹ 5,00,000 and the reduced Critical Illness Sum Assured will be available for the other covered Critical Illnesses under the chosen Option, other than Angioplasty. All future premiums in respect of the reduced Critical Illness Sum Assured will also reduce. Please read the definitions, exclusions and other applicable conditions as mentioned in the Terms & Conditions.

In case of occurrence of any of the covered critical illnesses (as per the chosen option), the future premiums for Life Cover under the Policy will be waived off. The Policy should be in-force as on the date of occurrence of Critical Illness of Life Insured. The Policy will continue for the Life Cover; however, any attached riders will be terminated.

Please note, there will be no waiver of premium in case of a claim for Angioplasty.