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Manage Your Policy

How can I get a duplicate policy issued?

For Issuance of a Duplicate Policy Bond, the policyholder is required to inform the company in writing and request for a duplicate policy bond, along with the following requirements:

  • Indemnity bond on stamp paper of adequate value
  • Stamp charges @ 20 paise per Rs.1000 Sum Assured

What do we mean by Assignment of an Insurance policy?

FAssignment of a life insurance policy means the act of transferring the rights of property in the policy from one person to another. The person who transfers his right is called the "assignor" and the person to whom the right is transferred is called the "assignee"

  • Conditional Assignment whereby on the happening of a specified event which does not depend on the will of the assignor, the assignment will be suspended or revoked wholly or in part.
  • Absolute Assignment whereby all the rights, title and interest which the assignor has in the policy passes on to the assignee without reversion to the assignor or his estate in any event.

How can I avail the facility to assign a policy?

Assignment to immediate family member:

  • Assignment request form duly signed by the policyholder
  • Original policy document
  • If duplicate policy bond has been previously issued, then same should be collected

Assignment to third party relationship other than bank/ financial institution

  • Assignment request form duly signed by the policyholder
  • Original policy document
  • Identity proof of the assignee
  • Address proof of the assignee
  • Proof of insurable interest (relationship to be established)
  • If duplicate policy bond has been previously issued, then same should be collected

Assignment to bank/ financial institution

  • Assignment request form duly signed by the policyholder
  • Original policy document
  • Proof of insurable interest
  • If duplicate policy bond has been previously issued, then same should be collected

What do you mean by switch of funds?

Fund Switch is a facility available only in Unit Linked policies allowing the Policyholder to change the investment pattern by moving from one Investment Fund/s to another among the Investment Funds offered under the underlying product of the Company.

How can I avail the facility of switching between funds?

The policy holder can avail this facility by sending a Switch of funds request form duly signed by him/her.

Note:

  • A fixed number of switches are free per policy year. For details on switch, please refer to Policy Bond.
  • A charge of Rs 100/- will be levied on any additional switch. This charge is subject to change but shall not exceed Rs.300/-.
  • Switch of funds will be affected at a Unit Price declared on the date the Switch application is received and accepted by the Company before 3.00 p.m. and on the next day's Unit Price declared if the application is received and accepted at the Company after 3.00 p.m.
Changes in Policy

What is the procedure to change the contact details?

The policyholder can send a request for change in Address/ Contact details through a duly completed and signed policy service request form. If there is a change in contact details, the STD code along with the contact number should be mentioned in the policy request form.

What is the procedure to change the name?

The policyholder can send a request for change of name, through a policy service request form which should be duly completed and signed by him/her and submitted at a Bharti AXA Life branch along with applicable proofs.

  • Standard age proof (for minor changes)
  • Copy of marriage certificate, mentioning old name and new name
  • Gazette notification and the copy of affidavit submitted for the notification to be issued in case the name is changed through gazette notification

What is the procedure to change the mode of payment?

For change in Mode of Payment, the policy holder needs to submit a duly filled and signed Policy Service Request Form at any of our branch locations.

In addition, policyholder needs to submit any one of the following documents (as applicable) in case he/she opts for Auto Debit methods (ECS/ Direct Debit or Standing Instructions to Credit Card).

For ECS/ Direct Debit

Duly filled and signed ECS/ Direct Debit Mandate form and original cancelled cheque.

For Standing Instructions to Credit Card

Duly filled and signed Credit Card Authorisation Form and photocopy of the front side of the credit card.

Points to be remember:

  • Mode change request should be received at least 15 days before the premium due date.
  • For instances where the mode needs to be changed to monthly, submitting an ECS/ Direct Debit Mandate or Credit Card Authorisation along with the request is mandatory.

What is the procedure to change premium payment method?

The policyholder can send a request for change of premium payment method, through a policy service request form which should be duly completed and signed by the policy holder.

In addition, we would require any one of the following documents in case of Auto debit methods (ECS/ Direct Debit or Standing Instructions to Credit Card)

For ECS/ Direct Debit

Duly filled and signed ECS/ Direct Debit Mandate form and original cancelled cheque.

For Standing Instructions to Credit Card

Duly filled and signed Credit Card Authorisation Form and photocopy of the front side of the credit card.

Points to be remember:

  • Method change request should be submitted at least 15 days in advance from the due date, for it to be effected.
  • If two successive payments/ instructions in case of monthly premium payment mode or any one payment/ instruction in case of quarterly/ half yearly/ yearly premium payment mode is not received/ honoured, the Company reserves the right to automatically cancel/withdraw the facility of ECS/ Direct Debit or Standing Instructions to Credit Card.

What is the procedure to request for change in nomination?

For Nomination of a policy, the policyholder needs to submit a duly filled and signed Nomination Form and at any of our branch locations.

  • Nomination form duly filled, signed and witnessed