Bharti AXA Life
Grameen Jeevan Bima Yojana
(UIN: 130N098V01)(ADVT No. II-June-2020-2285)
A Non-Linked, Non-Participating Life Term Micro Insurance Plan
DualPlanOptions Flexibility TaxBenefits
Why Choose Bharti AXA Life Grameen Jeevan Bima Yojana?
It is a plan designed to provide Life Insurance cover in case of death. The plan also offers a return of premium option where 100% of the premiums paid are returned at the end of the policy term as a lump sum.
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Flexibility to opt for two plan options:
1) Pure Protection Plan Option : Offers Life Insurance cover throughout the policy term. There is no maturity benefit.
2) Protection with Return of Premium Option : Offers Life Insurance cover throughout the policy term. On survival till the maturity of the policy, 100% of the premiums paid would be returned.
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Flexibility in Policy Term/Premium Payment Terms
The product offers the choice of 2 policy terms – 5 years and 10 years. You can choose to pay the premiums once or for the complete duration of the policy term.
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No Medical Examination
The plan is available without any medical examination of the Life Insured.
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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
Death Benefit
Maturity Benefit
Dual Plan Options
No Medical Examination
Tax Benefits
How Does the Plan Work?
Make your plan with ease
Pick a Plana Option
Choose one of the options, as per your financial goals.
Pure Protection Plan Option
Offers Life Insurance Plan throughout the policy term. There is no maturity benefit.
Protection with Return of Premium Option
Pure Protection Plan Option
Offers Life Insurance Plan throughout the policy term. There is no maturity benefit.
Protection with Return of Premium Option
Offers Life Insurance cover throughout the policy term. On survival till the maturity of the policy, 100% of the premiums paid would be returned.
Insurance Jargon Explained
Maturity Benefit
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.
Term Insurance
A basic insurance plan which provides a lump sum amount to the family of the person who is insured in case of his/her unfortunate death.
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.