FAQs

Yes, you can purchase a term plan with Bharti AXA Life Insurance if you already have a term plan from other insurance provider. However, you need to disclose your income and existing insurance cover details in corresponding sections while applying for the term cover under Bharti AXA Life Insurance. Based on underwriting decision, the request for the cover will either be accepted, accepted with certain conditions or declined.

What is Life Insurance?

Life insurance is a contract between an insurer and a policy owner. A life insurance policy guarantees the insurer pays a sum of money to named beneficiaries when the insured dies in exchange for the premiums paid by the policyholder during their lifetime. Life insurance is a key investment, especially in uncertain circumstances, like the present. Life insurance policies work in three stages :

What are the benefits of buying life insurance?

Life insurance offers three major benefits.

Besides this, life insurance plans offer a host of other benefits, like tax deductions under Section 10, 80C, and 80CCC of the Income Tax Act, 1961 on the premium paid. You may also borrow a loan against your insurance plan if needed. However, tax benefits are as per provisions of the Income Tax Act and are subject to change.

*IN ULIP POLICIES, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. The premium paid in Unit Linked Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.

Why consider Bharti AXA Life Insurance?

You should definitely consider getting an insurance policy from Bharti AXA Life as we provide flexible products. You can easily change your coverage limits and include riders with your insurance policy in minutes. You can access your account anytime from anywhere. With an impressive claim settlement ratio and dedicated claim handler for the policyholder, our claim settlement process is seamless.

What is MWPA?

MWPA is the Married Women Property Act of 1874 that entails that if a married man, including a divorcee or a widower, buys life insurance with the MWP addendum, the insurance benefits upon maturity or death are the sole property of the nominated beneficiaries (wife, or of his wife and children) and no one else. Even the policyholder does not have any right over these benefits.

The entire sum is treated as separate fund from the policyholder's estate and hence, these benefits cannot be used for repayment of debt or loan or form part of joint family property, in case of the untimely death of the policyholder.

Where can I get the list of diagnostic / medical centres?

The list is available with the medical service provider. When a customer receives a call for the arranging the medicals, they are given location options of a medical centre nearest and most convenient to them.

I am a self-employed person and do not work for any organisation. What details should be entered in employment section?

Please enter your Proprietorship/ Partnership & provide us the number of years for which you are active in your business. Giving correct details is very important.

Why is my smoking status required? I am not a habitual smoker?

The product offers special rates for a non-smoking person. Even if you are not a regular smoker or a casual smoker, please select the 'Smoker' status only.

What is meant by Physical Copy?

In case you wish to receive your application form by courier in a hard copy; you need to select this option – Physical Copy. We will send a PDF on your listed email ID & also along with the policy kit once we confirm your application with the company.

I am a Social Drinker. What details are required to be entered ?

Please select 'Yes' & provide details on the number of glasses of specific alcohol consumed per week.

What is the difference between policy holder, nominee and life assured?

The individual who purchased the life cover is the policyholder.
The individual or people who will receive the death benefits which is the funds paid by the insurance company when the policyholder dies are the nominee/s.
Life assured is the individual whose life is covered by the life insurance company.

Is a nominee and beneficiary one and the same in life insurance?

The nominee is a person who is nominated or appointed by the policyholder to look after his/her financial accounts, assets, etc., after his death. It is the responsibility of the nominee to disburse the proceeds among the legal heirs.

A beneficiary is an individual who has a financial interest in the life of the policyholder. The beneficiary can be either the legal heirs or financial institutions like banks who have provided loan/ finance to the policyholder.

If any immediate family member (like spouse, children or parents) is made the nominee, then they will automatically become the beneficial owners of the claim benefits and be referred to as beneficiary in life insurance.

Can I make my child who is a minor the nominee or have multiple nominees?

If the nominee is a minor, you are required to share their appointee details with us. Additionally you can also appoint multiple nominees.

Note: An appointee is the person to whom the proceeds/benefits secured under the Policy are payable if the benefit becomes payable to the nominee and the nominee is minor as on the date of claim payment.

Will my policy cover remain active if I shift abroad and become NRI?

Once you buy the policy, you stay covered whether you are in India or abroad.

Why do I need to provide my Mobile Number – I have registered for DND & don`t want to receive any calls?

Accurate mobile number is necessary for all our future communications. This includes pre and post login communication.

Policy Issuance

How can I track my proposal status?

If you have purchased the policy online through our website,you can track the proposal status by following below steps :

Alternatively, you can call us on our Customer Care No at 1800-102-4444 or SMS SERVICE at 56677 or Email us at service@bhartiaxa.com to know about for proposal status

What are the accepted supporting documents that can be submitted for Age, Identity and Address Proof?

When will I receive my policy documents?

I have an eIA account. When and how will I get my policy documents?

If you have opted for eIA,policy soft copy will be credited in your IR account post issuance. You will be communicated on credit of policy in e-IA account through SMS and email.

How can I get a duplicate copy of my policy document?

You can submit request for duplicate policy document by visiting any of our nearest branch.

To locate the nearest branch, click here https://www.bhartiaxa.com/contact-us

From where can I download my policy document soft copy?

Policy document soft copy can be downloaded using below options :

Can I change the policy term after purchasing the policy?

The policy term cannot be changed once the policy is issued.

Can I change the sum assured after purchasing the policy?

Sum assured in life insurance policies cannot be generally changed mid-term. If you are looking for an enhanced sum assured, you will have to either buy a new policy altogether or buy a supplementary cover.

Can I pay my initial premium by cash?

Cash payment for new policy purchase is not allowed. Exception in cash acceptance is allowed only for short premiums like counter offer up to Rs 5000/- towards new policy login.

When and how can I cancel my policy?

If you are not happy with the terms and conditions of the purchased policy,you can cancel the policy within the freelook period.

For policy cancellation request ,you need to visit any of our nearest branch and submit the "Payout Request" Form along with the policy document hard copy and Identity Proof.

Once all the required documents are received , branch will tag the "Freelook Request" for further processing.

Note : Freelook period for policies purchased is 30 days from date of receiving the policy hard copy.

Renewal Premium Payment

What are the options to pay my renewal premiums?

You can pay your premiums using the below options:

Online Payment