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What Are The Common Exclusions Under Child Insurance Plans Offered By Bharti AXA Life Insurance?

Published On Jun 30, 2021, Updated On Jul 01, 2021

As a parent, you do everything for your child that is in your power just to make them live their life freely without any concerns. You want to plan each and everything related to their key milestones so that nothing gets in the way of their journey to success.

But life is unpredictable, no one knows what is going to happen the next moment or in a second. Even though you as a parent do your best to make sure that your child's future is secure, an unfortunate event can put a bad shadow on your child's future. For that, you as a parent need to be ready for such circumstances by planning with prudence you can fulfil your child's dreams even in your absence. 

What is Bharti AXA Life Child Advantage Plan? 

Bharti AXA Life Child Advantage is such a policy that ensures you guaranteed payouts for key milestones and the insurance company waives off all the future premiums in case of unforeseen situations. Through this plan, your child does not need to compromise with their dreams. It offers you 2 flexible options for maturity benefits, be it a money-back or endowment option which can be chosen according to future prospects of the child. 

In this article, we will focus on the benefits and exclusions of the Child Advantage Plan offered by Bharti AXA Life. 

Benefits of Bharti AXA Life Child Advantage Plan

There are certain important benefits of this plan as mentioned below:

1. Tax Benefits

Child Advantage Plan offers you to avail tax benefits on the premiums paid and benefits under Section 10(10D) and Section 80C. Tax benefits can change according to the prevailing laws of Income-tax. 

2. Death Benefit

In case of death of the policyholder during the policy tenure, the death benefit payable to the nominee is higher than the Sum Assured on Death plus 105% of all premiums paid. Also, Death Benefits is Higher than Guaranteed Maturity Benefits plus 11 times the annual premiums paid. Here, Under Money Back Option Sum Assured on Maturity is 110% whereas 125% for the Endowment Option. 

  • The Guaranteed Payouts already paid are not deducted from the Death Benefit under the Money Back Option, 
  • In case of death of the policyholder, all premiums are waived off and all the benefits provided by the plan would continue.


3. Maturity Benefit

If the insurer survives till the tenure then he/ she can attain Maturity Benefits depending on the Maturity Benefit option chosen by the insurer while purchasing the policy from Bharti AXA Life Advantage. In the case of the death of the insured during the tenure, this benefit is received by the nominee.

  • Endowment Option: 125% of the sum assured is paid on maturity and does not offer any guaranteed payouts option. 
  • Money-Back Option: 40% of the sum assured is paid on the date of maturity and also offers guaranteed payouts under the policy. 

4. Insurance Cover

Child Advantage Plan offers the policyholder the opportunity of life cover throughout the policy tenure. Under this benefit, Insurance Companies provide protection to the loved ones of the policyholder during financial circumstances. Death benefits are paid to the nominee of the policy after the death of the policyholder during the policy tenure. 

Exclusions Under Child Advantage Plan 

There is only one exclusion under the Child Advantage Plan that is suicide exclusion. Under this, if the insurer commits suicide within 12 months after commencement of the policy or after policy revival date whether he/she is sane or insane 80% of the total premiums is paid to the nominee excluding all other benefits because the policy will mark as invalid. 


The Child Advantage Plans offer the opportunity to policyholders to earn more through savings facilities while keeping their loved ones protected with an insurance cover. It also allows the flexibility to choose the maturity benefits type, policy tenure, premium payment term and premium amount. Child Advantage Plans makes itself unique due to its least number of exclusions unlike other available which consist of more exclusions.

Also Read: 

Ways To Save For Your Child’s Education

Features of Child Insurance Plan Which Make it a Must Have Investment Plan

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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