MUMBAI/NEW DELHI: July 8, 2020: Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, one of India’s leading business groups, and AXA, one of the world’s largest insurance companies, today announced the launch of its first-of-its-kind Health and Life Secure, an inclusive protection solution with triple benefits of life cover, hospitalization and critical illness amid COVID19.
Health and Life Secure is an all-in-one protection solution that offers financial security and comprehensive health and critical illness coverage as a key differentiator in the domestic insurance market.
‘’In view of the unprecedented environment and the fear arising out of the Corona virus infection and disease, Health and Life Secure is the need of the hour that addresses customers’ requirements of life protection, hospitalisation and critical illness benefits. The unique proposition of this all-embracing solution is that it offers financial security and support for managing health and critical illness expenses as well. This is in line with our vision and strategy to offer best-in-class insurance solutions to the customers,’’ said Mr. Parag Raja, Managing Director and CEO, Bharti AXA Life Insurance.
Health and Life Secure, available through Bharti AXA Life Flexi Term Plan with Critical Illness option and Bharti AXA Life Hospi Cash Benefit Rider & Bharti AXA Life Accidental Death Benefit Rider, is a combination that keeps finances of people secured against any health emergencies that might arise in the future.
Under this overarching solution, the maximum life coverage up to the age of 75 years is offered with the entry age of 18-65 years. It provides two convenient sum assured options – Rs 15 Lakh and Rs. 20 Lakh – with flexible premium payment term options of 5,10,15,20 years till the age of 75 years.
Health and Life Secure offers enhanced health coverage against life-threatening illnesses and major surgeries. It covers as many as 34 critical illnesses with affordable premium options. Customers have an option to choose from the comprehensive cover (34 illnesses) and major illnesses cover (15 illnesses). It has in-bulit waiver of premium for death cover in case of critical illness.
The unique solution gives fixed benefits up to Rs. 4.5 lakh with daily hospitalization benefits, Intensive Care Unit facilities and minor or major surgeries. Daily hospitalization benefit is a fixed per day benefit paid to the policyholder for each day of hospitalisation, if the hospitalisation is for a minimum period of 48 hours while the policy is in force.
Apart from the death cover, the novel solution, which is available on both online and offline channels and for all distribution partners, also offers a double sum assured in case of accidental death. The insured will also be entitled for applicable tax benefits on premium payment.
Mr. Raja said, “We have always focused on innovation to enrich customer experience. With our new insurance solution, we are offering the much needed financial security to the customers to meet their life and health-related contingencies and would continue to service them with innovative products. We expect a significant demand for this product, which includes the best of both life and health insurance, as so far people have not been provided with an adequate choice of quality insurance products.’’
Bharti AXA Life Insurance will leverage its pan-India distribution network of 261 branches and more than 40,000 advisors to enable people to access this comprehensive insurance solution along with Claims Handler, Quality Servicing Capabilities and Grief Support Programme, as part of its drive to boost insurance penetration in the country.