Bharti AXA Life
Flexi Term Pro

Upon death of the Life Insured during the policy term, provided the policy is in force and all due premiums till the date of death have been paid, Death Benefit will be payable to the nominee/beneficiary immediately on death.

In case of Joint Life Variant

• Upon the death of the Primary Insured, provided the Secondary Life is alive, the policy is in-force and all due premiums till the date of death have been paid :
  • Death Benefit shall be payable immediately on death of primary life.
  • Subsequent premiums for the surviving Secondary Life Insured will be waived off and cover for secondary life will continue for the remaining policy term.


• Upon the death of Secondary Life Insured, provided the Primary Life is alive, the policy is in-force and all due premiums till the date of death have been paid :
  • Death Benefit shall be payable immediately on death of secondary life.
  • The policy shall continue with premiums payable by the policyholder for the Primary Life Insured.


• In case of simultaneous death of both lives, provided the policy is in-force and all due premiums till the date of death have been paid, the Death Benefit will be payable immediately on death.

If the Secondary Life is a non-working spouse, then the Sum Assured shall be 50% of Sum Assured of the Primary Life Insured subject to a maximum Sum Assured of Rs 50 lacs.

If the Secondary Life is a working spouse, the Sum Assured can vary subject to a maximum of the Sum Assured of the Primary Life. The working status of the spouse would be identified at the time of proposal.

For Single Pay,

Death Benefit is the Sum Assured on Death, which is the highest of :

• 11 times Single Premium
• Absolute amount assured to be paid on death equal to the Sum Assured

For Regular and Limited Pay,

Death Benefit is the Sum Assured on Death, which is the highest of :

• 11 times Annualized Premium*
• 105% of Total Premiums Paid as on date of death
• Absolute amount assured to be paid on death equal to the Sum Assured

Annualized Premium shall be the premium payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.

Total Premiums Paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.

Under Single Life Cover, In case of the death of the Life Insured during the Grace Period, the Death Benefit after deducting the unpaid due premium shall be payable and the Policy will be terminated.

Under Joint Life Cover, In case of death of either of the Life Insured during the Grace Period, the Death Benefit after deducting the unpaid due premium shall be payable and the Policy will continue for the surviving life insured.

In case of simultaneous death of both the Life Insureds during the Grace Period, the Death Benefit after deducting the unpaid due premium shall be payable and the Policy will be terminated.

Death Benefit Payout

At inception of the policy, the policyholder can choose the Death Benefit Payout from one of the three options below:

• Lumpsum:
  Under this mode, 100% of the Death Benefit will be paid immediately on death as lumpsum.


• Monthly Income:
  • Under this mode, for all options excluding One Year Policy Term, the Death Benefit will be paid as 1.04% of the Sum Assured every month in the form of Monthly Income, payable for 10 years (120 installments) with the first installment being payable immediately on death.
  • Under One Year Policy Term, Death Benefit will be paid as 1.0% of the Sum Assured every month in the form of Monthly Income, payable for 10 years (120 installments)
• Lumpsum plus Monthly Income:
  Under this mode, for all options excluding One Year Policy Term, 50% of the Death Benefit will be paid immediately on death as lumpsum and the remaining 50% of the Death Benefit will be paid as 0.93% of the total Sum Assured every month in the form of Monthly Income, payable for 5 years with the first installment being payable immediately on death.

The nominee shall have an option to take the Monthly Income as a lump sum. This option is only available at the time of death before the payment of the first instalment. The lump sum shall be calculated as a Present Value of Monthly Incomes discounted at 5% pa. This rate may be revised subject to prior approval from IRDAI. This option is not available for One Year Policy Terms.

Under OYT, the nominee shall receive the lump sum or the monthly income payout, as chosen at policy inception. The payment of the first instalment of the monthly income payout will be immediately on the date of death.

In case the nominee dies during the monthly income payout period, the present value of the outstanding Monthly Incomes shall be paid to as a lump sum to the legal heir of Life Insured’s. The lump sum shall be calculated as the Present Value of outstanding Monthly Incomes discounted at 5% p.a. This rate may be revised subject to prior approval from IRDAI.

In case the Life Insured survives till maturity and all due premiums have been paid till the date of maturity, the Sum Assured at Maturity will be payable on the date of maturity.

Sum Assured on Maturity is calculated as the sum of the Total Premiums Paid till the date of maturity of the policy.

No Maturity Benefit shall be payable for Without Return of Premium option.

Under To Age policy terms, for regular premium payment option and Limited Pay (Pay till Age 60) option, the policyholder will have an option to increase the Sum Assured twice during the policy term without undergoing any further medical examination, provided that at the time of exercising this option, the outstanding policy term is at least 10 years and the policyholder’s age is not over 45 years age last birthday. The Sum Assured can be increased by an amount equal to 50% of the Sum Assured chosen at inception. The option to increase Sum Assured has to be chosen at inception of the policy. This option is not available under Joint Life option and With Return of Premium Option.

The cumulative increase of Sum Assured is capped to 100% of the Sum Assured chosen at inception. The increase in Sum Assured shall be effective from the policy anniversary following the exercise of the options. Additional premium shall be collected for the additional Sum Assured, where the premium rate shall be based on the age of the policyholder and the outstanding duration of the policy, as at the policy anniversary following the selection of the option.

You may be eligible for tax benefits on the premiums paid as well as the benefits received as per the prevailing tax laws. The tax benefits are subject to change as per change in tax laws from time to time.

**Income Tax benefits/exemptions are as per the prevailing tax laws in India, which are subject to change from time to time. Please consult your tax advisor for further details.