Bharti AXA Saral Jeevan Bima Plan Benefits, Reason to Choose SJBP, Eligibility & Apply Process

Bharti AXA Saral Jeevan Bima Plan: The Life Saral Jeevan Bima Plan by Bharati Axa is a non-linked, non-participating, pure-risk term insurance plan that offers a fixed amount to the nominee in the event of the policyholder’s death during the policy term. This Bharti AXA Saral Jeevan Bima Plan comes with simple features and standard terms & conditions. It excludes additional riders, benefits, or variants beyond those specified in its annexure.

It is important to highlight that the terms and conditions of Saral Jeevan Bima are uniform across all insurance providers. Bharti AXA Saral Jeevan Bima Plan is a pure-term insurance policy that provides simple yet necessary financial protection to the policyholder.

It not only provides death benefits but also helps financially secure the policyholder’s family. The premium on this Bharti AXA Saral Jeevan Bima Plan is paid either monthly or yearly. With this unique, non-linked, non-participating individual pure-risk insurance plan, the starters or first-time buyers of life insurance can easily access pocket-friendly protection.

Why Choose Bharti AXA Saral Jeevan Bima Plan 2024?

The Bharati Axa Life Saral Jeevan Bima Plan is a term plan that can be customized according to your needs and stages of life. Choose from a variety of features that meet your needs and make your term insurance the best for you.

• You can choose from various options for the policy term and premium payment term.
• Customize your policy by choosing riders to enhance security.
• Special premium rates for women are available, allowing them to benefit from special premium rates.
• Features are very simple and easy to understand.

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Bharti AXA Life Insurance Saral Jeevan Bima Yojana Eligibility

• An entry age of at least 18 years and a maximum entry age of 65 years, with a maximum maturity age of 70 years.
• The policy terms range from 5 to 40 years, and the payment term, premium, and payment options vary accordingly.
• The policy terms for single pay, regular pay, and limited pay (5 years and 10 years) are also specified.
• The sum assured ranges from a minimum of 5,00,000 to a maximum of 50,00,000, with premium payment modes available in annual, semi-annual, and monthly options.
• The minimum premium is determined based on the chosen sum assured, and the product is also available for sale online.

Bharti AXA Saral Jeevan Bima Benefits:

The policy offers the following benefits:

a) Death Benefit:

A- If the Life Assured passes away during the Waiting Period and the Policy is active, the Death Benefit amount payable as a lump sum is:

1. In the event of Accidental Death, for regular premium or limited premium payment policy, it is equal to the Sum Assured on Death, which is the highest of:
   1. 10 times the Annualized Premium, or105% of all premiums paid as of the date of death, or
   1. The total amount assured to be paid on death.

(2) In the event of an Accidental Death, for single premium policy, it is equal to the Sum Assured on Death, which is the higher of:

    (a) 125% of the Single premium, or

    (b) The absolute amount assured to be paid on death.

(3) In the event of death due to causes other than accident, the Death Benefit is equal to 100% of all Premiums paid excluding taxes, if any.

B-In the unfortunate event of the Life Assured passing away after the Waiting Period has ended but before the maturity date, the Death Benefit amount will be paid out as a lump sum. This amount will be determined based on the policy type:

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• For Regular premium or Limited premium payment policies, the Death Benefit will be the highest of:
  • 10 times the annualized premium
  • 105% of all premiums paid up to the date of death
  • The absolute amount assured to be paid on death
• For Single premium policies, the Death Benefit will be the higher of:
  • 125% of the Single Premium
  • The total amount assured to be paid on death.

How the Bharti AXA Life Insurance Saral Jeevan Bima premium is calculated?

• The premiums are evaluated based on the policy term and Premiums do not include any applicable taxes or any cess.
• The amount of premiums you will need to pay depends on factors such as your age, gender, Policy Term, and Premium Payment Term.
• It is important to note that the premiums will vary for standard and substandard lives.
• When it comes to the Premium Payment Mode, you have the option to choose between monthly, semi-annual, or annual premium payment modes.
• Each mode has its modal factor, with the Single mode having a factor of NA, the Annual mode having a factor of 1 of Annualized Premium, the Semi-Annual mode having a factor of 0.51 of Annualized Premium, and the Monthly mode (only through NACH/ECS) having a factor of 0.0867 of Annualized Premium.

Bharti AXA Life Insurance Saral Jeevan Bima Helpline

You have the option to request clarification or support regarding the Policy from the following sources:

• The Advisor who facilitated the purchase of the Policy.
• Contact Customer care at toll-free number 1800 102 4444.
• Initiate contact via WhatsApp by sending ‘Hi’ to 02248815768.
• Send an SMS with the keyword “SERVICE” to 56677.
• Reach out via email at [email protected].
• Correspond through mail addressed to Customer Service.

Frequently Asked Questions (FAQ): Bharti AXA Saral Jeevan Bima Plan