Bharti AXA Life POS Saral Jeevan Bima Yojana(UIN:130N094V01)
(ADVT No. II-Mar-2019-1828)

A Non-Linked Non-Participating Term Insurance Plan which is designed to provide Life Insurance cover in case of death

4 REASONS TO BUY

  • Double the Sum Assured on death due to Accident: The plan offers sum assured on death as lump sum on death of the Life Insured and double the sum assured on death in case of death due to accident.

  • Flexibility to choose policy term: You get the flexibility to choose from 4 policy terms, that are 10, 15, 20 and 25 years.

  • No medical examinations: The plan is available without any medical examination of the Life Insured.

  • 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 change in tax laws from time to time.

Plan details

How does the Product work?

Let’s take a look at this case study

Vijay, 30 years old, is looking for a Life Insurance plan that would ensure he is covered against any unforeseen events and in case of any eventualities, his wife and daughter are well protected against any financial uncertainty.

Vijay decides to purchase Bharti AXA Life POS Saral Jeevan Bima Yojana for a policy term of 10 years for which he has to pay premium for 10 years.

He chooses a sum assured of Rs. 5,00,000, he has to pay an annual premium of Rs. 1,465 (exclusive of applicable taxes).

In case of Vijay’s death during the policy term, his nominee would receive benefits as given below:

a) First Scenario: Death Benefit (other than death due to Accident) during Waiting Period of 90 days

In case of Vijay’s unfortunate death (other than death due to Accident) during the Waiting Period of 90 days, the Death Benefit payable will be 100% of premiums paid (exclusive of applicable taxes) till the date of death, that is, Rs. 1,465.

b) Second Scenario:Death Benefit (other than death due to Accident) after Waiting Period of 90 days

In case of Vijay’s unfortunate death (other than death due to Accident) after the Waiting Period of 90 days, the Death Benefit payable will be the Sum Assured on Death, that is, Rs. 5,00,000

c) Third Scenario:Death Benefit (death due to Accident) – No Waiting Period is applicable

In case of Vijay’s unfortunate death due to Accident, the total Death Benefit payable will be equal to two times the Sum Assured on Death, that is, Rs. 10,00,000.

Benefits Payable Death Benefit
Death Benefit (other than death due to Accident) – During Waiting Period of 90 days Rs. 1,465 (i.e. 100% of premiums paid till the date of death (excluding any taxes))
Death Benefit (other than death due to Accident) – After Waiting Period of 90 days Rs. 5,00,000
Death Benefit (death due to Accident) – No Waiting Period is applicable Rs. 10,00,000
Who can buy?
Parameter Eligibility Criteria
Min Max
Age at entry 18 years 55 years
Maturity age 28 years 65 years
Policy Term 10/15/20/25 years
Premium Payment Term Regular Pay (Same as Policy Term)
Sum Assured (Rs.) Rs 50,000 No Limit^
Premium (Rs.) Depends on Sum Assured
Premium Payment Modes Annual, semi- annual, quarterly* & monthly*
* Payable through ECS only
^ Maximum Sum Assured subject to Board approved Underwriting Policy

More Details

More Details

1. Maturity Benefit :

No benefit will be payable on maturity



2. Death Benefit: In case of 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, the Death Benefit will be payable immediately on death.

A. Death Benefit (other than death due to Accident) - During Waiting Period of 90 days: Upon death of the Life Insured, provided the Policy is in-force and all due premiums till the date of death have been paid, the Death Benefit payable will be 100% of premiums paid till the date of death, exclusive of applicable taxes. The Sum Assured on Death as defined below in Section B shall not be payable in such scenario.

B. Death Benefit (other than death due to Accident) - After Waiting Period of 90 days:

Upon death of the Life Insured, provided the Policy is in-force and all due premiums till the date of death have been paid; the Death Benefit payable will be Sum Assured on Death, which is the highest of:

  • 11 times Annualized Premium*; or
  • 105% of all premiums paid as on date of death; or
  • Absolute amount assured to be paid on death equal to the Sum Assured under the policy; or
  • Sum Assured on maturity which is zero under this product

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

C. Death Benefit (death due to Accident) - No Waiting Period is applicable:

Upon death of the Life Insured due to accident, provided the Policy is in-force and all due premiums till the date of death have been paid, the total Death Benefit payable will be equal to two times of the Sum Assured on Death (as defined above) provided such death was caused directly by such Accident and independently of any physical or mental illness within one hundred twenty (120) days of the date of Accident.

Accident here means sudden, unforeseen and involuntary event caused by external, visible and violent means.



3. Tax Benefits: You may avail of tax benefits on the premiums paid as well as the benefits received as per the prevailing tax laws under Section 80C and Section 10 (10D) of the Income Tax Act, 1961. The tax benefits are subject to change as per change in tax laws from time to time.

Premium rates

Age\PPTPremium Rates - Males - Sum
Assured < 10 Lakhs
10152025
18 2.38 2.39 2.42 2.45
19 2.42 2.43 2.46 2.49
20 2.46 2.47 2.5 2.53
21 2.49 2.5 2.53 2.57
22 2.52 2.53 2.56 2.61
23 2.54 2.56 2.59 2.68
24 2.57 2.6 2.64 2.76
25 2.61 2.64 2.71 2.85
26 2.65 2.7 2.79 2.96
27 2.7 2.76 2.88 3.08
28 2.76 2.85 3 3.23
29 2.84 2.94 3.13 3.4
30 2.93 3.06 3.29 3.59
31 3.03 3.18 3.46 3.79
32 3.15 3.32 3.66 4.02
33 3.3 3.49 3.88 4.28
34 3.46 3.69 4.13 4.56
35 3.66 3.92 4.42 4.88
36 3.85 4.17 4.72 5.21
37 4.08 4.45 5.06 5.58
38 4.34 4.77 5.43 5.98
39 4.64 5.13 5.84 6.42
40 4.98 5.52 6.28 6.9
41 5.37 5.98 6.79 -
42 5.82 6.48 7.35 -
43 6.31 7.02 7.95 -
44 6.84 7.61 8.61 -
45 7.43 8.25 9.32 -
46 8.16 9.04 - -
47 8.94 9.9 - -
48 9.78 10.82 - -
49 10.67 11.82 - -
50 11.62 12.89 - -
51 12.62 - - -
52 13.68 - - -
53 14.81 - - -
54 16 - - -
55 17.29 - - -

Age\PPTPremium Rates - Males - Sum
Assured >= 10 Lakhs
10152025
18 2.32 2.33 2.36 2.39
19 2.36 2.37 2.4 2.43
20 2.4 2.41 2.44 2.47
21 2.43 2.44 2.47 2.51
22 2.46 2.47 2.5 2.54
23 2.48 2.5 2.53 2.61
24 2.51 2.54 2.57 2.69
25 2.54 2.57 2.64 2.78
26 2.58 2.63 2.72 2.89
27 2.63 2.69 2.81 3
28 2.69 2.78 2.93 3.15
29 2.77 2.87 3.05 3.32
30 2.86 2.98 3.21 3.5
31 2.95 3.1 3.37 3.7
32 3.07 3.24 3.57 3.92
33 3.22 3.4 3.78 4.17
34 3.37 3.6 4.03 4.45
35 3.57 3.82 4.31 4.76
36 3.75 4.07 4.6 5.08
37 3.98 4.34 4.93 5.44
38 4.23 4.65 5.29 5.83
39 4.52 5 5.69 6.26
40 4.86 5.38 6.12 6.73
41 5.24 5.83 6.62 -
42 5.67 6.32 7.17 -
43 6.15 6.84 7.75 -
44 6.67 7.42 8.39 -
45 7.24 8.04 9.09 -
46 7.96 8.81 - -
47 8.72 9.65 - -
48 9.54 10.55 - -
49 10.4 11.52 - -
50 11.33 12.57 - -
51 12.3 - - -
52 13.34 - - -
53 14.44 - - -
54 15.6 - - -
55 16.86 - - -
  • * Rates are per thousand Sum Assured.
  • * There is a 3 year setback for female lives








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