Bharti AXA Life boosts protection cover segment

New Delhi, Feb 25 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.