eProtect – A term insurance plan from Bharati Axa Life Insurance

  What are the benefits of Bharti AXA Life eProtect? 1. Affordable premium rates: You can get yourself insured at affordable premium rates. 2. Life Insurance Benefit: Incase of an unfortunate death of the Life Insured, an amount equal to sum assured will be paid as a life insurance benefit to the nominee   Family Care Benefit: Unfortunate events in life come unannounced and during this time of distress your family could require contingency support. Family Care Benefit is a unique proposition  by way of which, in case of the death of the Life Insured, a part of the sum assured is paid as a lumpsum amount of Rs. 100,000, to the nominee within 48 hours** of submission of all relevant claim documents. This lumpsum is paid subject to the policy being inforce and the premiums for 2 consecutive policy years from the date of issuance or the date of latest reinstatement have been paid. 3. Reward for non-smokers, premium discounts available: You will be eligible for special rates if you are a non-smoker and you have applied for a sum assured in excess of Rs 5,000,000. 4. Hassle Free buying: Now get the advantage of Life Insurance cover at the click of a button. Bharti AXA Life eProtect offers you convenience at your finger tips, as you can buy this term plan online to save the time and effort that would have been required otherwise. 5. Tax benefits: You can avail the tax benefits on the premiums paid and the benefits received subject to the prevailing provisions under Income Tax Act, 1961. The tax benefits are subject to change as per change in Tax laws from time to time. * Please refer Terms and Condition section for details on Family Care Benefit.     How does this product work? Bharti AXA Life eProtect is a simple pure term insurance protection plan which can be purchased online. The product works as follows;

1. You choose your cover (Sum Assured) and tenure of the cover(policy term) as per your choice. The premium will be determined based your age as on last birthday, gender, sum assured, term option chosen by you and your smoking habits.
2. The Policy terms options are 10, 15, 20, 25, 30, To Age 60, To Age 65, To Age 70 and To Age 75 years and will depend on maximum coverage age under this product.
3. You can choose Annual & Semi-Annual premium payment mode. Semi-Annual Premium = 0.52 times of Annual Premium.

In case of the unfortunate death of the Life Insured during the policy term, the Company shall pay an amount equal to the Sum Assured to the nominee, as mentioned in the policy. This policy does not have any maturity benefits.       What happens if I am unable to pay premiums?   While we recommend that all your premiums be paid on the respective due dates, we also understand that sudden changes in lifestyle like increased responsibilities or unexpected increase in household expenses may affect your future ability to pay premiums. You have following flexibilities in order to ensure that your benefits under the policy continue in full,

• Grace period: Grace period is the period given to you from your premium due date, to pay the premium without any impact on the benefits in your policy. Grace Period for all modes is 30 days. In case of the death of the Life Insured during the grace period of 30 days allowed for payment of due premium, the Death Benefit less the unpaid due premium shall be payable and the Policy will be terminated.

• Reinstatement: In case you do not pay the premiums within your grace period, your policy will lapse.  You have a flexibility to reinstate all the benefits under your policy within five years after the due date of the premium in default (reinstatement period) However, the Company would require:
  • o A written application from you for reinstatement;
  • o Satisfactory evidence of insurability;
  • o Payment of all overdue premiums with interest as specified by company from time to time.

Can I surrender my policy? We would want you to pay premiums regularly till the end of the policy term. However incase you are not able to pay all premiums and want to surrender the policy, the policy will be terminated, however no surrender value is payable to you under this product.     Product at a Glance  

Parameter	Eligibility Criteria
Minimum age at entry	18 years for all terms except To Age 70 and To Age 75 years 40 years for To Age 70 and To Age 75 years.
Maximum age at entry	Policy Term Maximum Entry Age (Age last birthday) 10 65 years 15 60 years 20 55 years 25 50 years 30 45 years To Age 60 50 years To Age 65 55 years To Age 70 60 years To Age 75 65 years
Minimum sum Assured	Rs. 2,500,000/-
Death Benefit	Sum Assured
Policy Term	10, 15, 20, 25, 30, To Age 60, To Age 65, To Age 70 and To Age 75 years.
Premium Payment Term	Same as policy Term
Premium Payment Modes	Annual & Semi Annual

    Sample Premiums:

Premium for Sum Assured of Rs.1 Crore
Age (yrs)	Term (yrs)
	10	20	30
25	6,100	6,100	6,400
30	6,800	7,000	7,300
35	8,700	9,300	9,700
40	12,200	13,500	14,700

  Premium calculated is annual premium excluding service tax, for a healthy individual male (non-smoker). Premium rates for smokers will vary. Premium will also change based on the underwriting decisions for the individual life made by the company. Please refer to our website to calculate your premium. The premiums are further subject to service tax and any other charges levied by the Government of India.   Terms and conditions

1. Free-look option:- If You disagree with any of the terms and conditions of the Policy, You have the option to return the original Policy Bond along with a letter stating reasons for the objection within 15 days of receipt of the Policy Bond (the free look period). The Policy will accordingly be cancelled and an amount equal to premiums paid less stamp duty and underwriting expenses incurred by the Company will be refunded to the Policyholder.

2. Suicide Exclusion: The Policy shall be void if the Life Insured, whether sane or insane, commits suicide resulting in death directly or indirectly as a result of such suicide within A)  one year of the Issue Date; or B)  one year of the date of the latest reinstatement of the Policy. In the above cases, no benefits shall be payable 3. The Family Care Benefit amount will be released subject to following conditions:

•  The Company shall release a cheque on intimation of death of Life Insured, in the nominee’s name within 48 hours of submission of all relevant claim documents and it does not in any way indicate acceptance of any other policy liability.
•  The 48 hour period shall be reckoned from the time the primary claim documents like the Original policy bond, Death certificate of life insured & Claimants statement are submitted at the branch and acknowledged to the time the cheque is released in the nominee’s name. However, while calculating 48 hours the intervening period on account of Saturdays, Sundays, Holidays declared by the Company and Public Holidays shall be excluded.
•  For any claim intimation received on Saturdays, Sundays, Holidays declared by the Company and Public Holidays and on any working days after 3 p.m., the 48 hour period will be reckoned from 9 a.m. of the next working day
•  Balance sum assured (after adjusting the Family Care Benefit amount), will be released on a later date if the claim is settled and will be subject to the terms and conditions mentioned herein.
•  Cases where the Claimant is other than nominee as per the Company records are excluded.
•  In case of multiple policies of Bharti AXA Life eProtect, the lumpsum amount will be restricted to Rs. 100,000 only.