Want life insurance policy cover for up to 99 years? Check it out here

Bharti AXA Life Insurance today announced its new-age and comprehensive protection solution, Bharti AXA Life Flexi Term Pro, that offers the option to cover your life up to 99 years and provide a customized shield with multiple flexibilities to financially secure the insured and the family too. Bharti AXA Life Flexi Term Pro is a non-linked, individual, non-participating pure protection plan that also offers One Year Term and tele-medical underwriting option to individuals as a key differentiator in the domestic insurance market.

With the novel term plan, the company introduced quit smoking and stay fit benefits for customers with an additional discount of 5 per cent on the subsequent renewal premium. The new protection solution stirs customers to get rewarded for a healthy lifestyle on quitting smoking and improved health status and reduces policy premium under the ‘Quit Smoking’ and ‘Stay Fit’ benefits before the third policy anniversary and the second policy anniversary, respectively.

Unveiling the wide-ranging life security solution, Parag Raja, Managing Director and Chief Executive Officer, Bharti AXA Life Insurance, said, "The ongoing Coronavirus pandemic has made people aware about the need for financial protection and obligations in the uncertain life and set term insurance a crucial component in their portfolio, which was not the same a few years ago. We designed Flexi Term Pro with multiple features and options that help people insure their life and earn financial security for their families as per the preference and needs. Further, the value-loaded protection solution also caters to the evolving life stage needs of our customers. We believe that quit smoking and stay fit benefits are game-changing characteristics that will redefine the protection insurance market in India."

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Bharti AXA Life Flexi Term Pro is available in two options – Without Return of Premium and With Return of Premium. It gives 100 per cent premium back to the policyholders at the end of maturity only on the return of the premium option. In case the life insured survives and all due premiums have been paid till the date of maturity, the sum assured at maturity (total premiums paid till maturity) without GST will be payable.

Under without return of premium variant, the customer also has the option to avail a joint-life benefit in the same policy which allows the assured to cover his/her spouse. On the demise of the primary life assured, the life cover for the spouse will continue.

Apart from providing protection, the return of premium on maturity, and death benefit payout option - including lump sum and monthly income - benefits, it also gives the policyholders flexibility to increase their protection cover across various life stages - single, marriage, childbirth and education etc. ‘’This feature empowers our customers with adequate protection at different milestones of their lives with no additional financial and medical requirements. With this unique product, we will be able to bridge, to an extent, the protection gap that currently exists in the country,” Raja pointed out.

The life cover is available till 85 years, though there is an option of whole life term coverage up to 99 years. "We are also extending the life coverage from the age of 85 years to 99 years to support our customers at a later stage of life," Raja said adding, "he innovative term plan also allows the customers to pay a premium for a limited-term, as less as five years, and get a life cover till the age of 85.It offers the option to choose from multiple policy terms and premium payments terms and the opportunity for the customers to customize their plan as per life needs. They can also enhance their protection by availing riders - Bharti AXA Hospi Cash Rider, Bharti AXA Life Accidental Death Benefit Rider, Bharti AXA Life Premium Waiver Rider and Bharti AXA Life Accidental Total and Permanent Disability Rider - at an additional premium."