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Bharti AXA Life boosts protection cover segment
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SME Times News Bureau | 25 Feb, 2021
In a bid to explore and expand the new avenues in the overall term
insurance market in India, leading private sector insurer Bharti AXA
Life has enriched the protection cover segment with the benefits of
'Quit Smoking' and 'Stay Fit' in its life cover solution Bharti AXA Life
Flexi Term Pro.
The Bharti AXA Life Flexi Term Pro offers the
option to cover the life up to 99 years and also provides a customised
shield with multiple flexibilities to financially secure the insured and
the person's family.
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 reduce policy premium under the
new benefits before the third policy anniversary and the second policy
anniversary respectively.
"With the introduction of Flexi Term
Pro, we are offering a wide range of benefits and choices to help our
customers and their loved ones fulfill their specific financial
requirements at each stage of life and to empower them with adequate
financial resources to live the life of their dreams.
Further,
we aim to penetrate deeper into the current industry and explore new
segments in order to expand the overall term market in India," said
Parag Raja, MD and CEO, Bharti AXA Life Insurance.
"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," Raja added.
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 in the return of
premium option.
"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 said.
The life cover is available till 85 years, though there is an option of whole life term coverage up to 99 years.
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