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2012
Bharti AXA Life eProtect Tags: Date: Meta Description: Bharti AXA's online term insurance policy eProtect is the cheapest so far Category: Insurance
Analysis: Type of policy: Term Insurance
Term insurance is a fantastic product that every single family needs to have, for its earning member(s). It is a pure life insurance policy that gives your family a cover in case of an eventuality to the bread winner. This is an online policy so agents are done away with and the procedure is hassle-free too. Premiums of online term policies are the cheapest. eProtect is a good plan to have. Premiums are cheapest compared to other insurers. However if you are over 50 years you will have to look for other insurers. An additional feature that eProtect offers is paying Rs 1 lakh from the sum assured to the nominee within 48 hours of submission of claim documents, going under the name Family Care Benefit. Balance sum assured is paid if the claim is settled. We typically recommend an insurance cover of 4-8 times your annual income and for as long a term as is available for your age. Find out the ideal cover for you using this calculator.
Product Feature: Parameter
Value
Minimum age at entry
18 years
Maximum age at entry
50 years
Fintotal Comment This is much lower than the usual cap of
60 years Maximum policy term
30 years or till age of 60, whichever is earlier
Minimum sum assured
Rs 25 lakhs
Maximum sum assured
No limit; subject to underwriting
Higher minimum a disadvantage for those looking for lesser cover
Returns: If the insured survives term, no benefits are paid. Insurance should be viewed as an expense rather than investment.
Illustration: Your age
Term
Indicative Annual Premium (For cover of Rs.50 lakh )
25 years
25 years
Rs. 3,550
30 years
25 years
Rs. 4,000
40 years
20 years
Rs. 7,150
50 years
10 years
Rs. 15,050
Fintotal Recommends: For buying policy: Yes If holding policy: Continue