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Bharti AXA Life Grow Wealth

(UIN - 130L088V03)
(ADVT) - II-Sep-2020-2366

In this policy, the investment risk in investment portfolio is borne by the policyholder.

A savings-oriented unit linked insurance plan that offers you multiple fund options to suit your investment needs with a life insurance cover and high interest investments to protect your family in case of any unfortunate event. It also provides additional benefits in the form of loyalty additions to ensure your money works as hard as you

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5 Reasons to Buy
  • Flexibility in Investment Tenure The plan not only offers you multiple options to choose Investment duration of your desire but also offers you the flexibility on how you want to pay your premiums – either as a single payment or for a limited duration or for the entire policy term basis your investment needs.
  • Single Life/Joint Life Option The plan allows you the option to choose between Single Life (life coverage for one individual) and Joint Life Coverage (life coverage for two individuals under the policy)
  • Grow your wealth further with Loyalty Additions Subject to Policy being in-force, a percentage of Fund Value is added at the end of every Policy year from 6th Policy Year to end of Policy Term, making it a great wealth insurance option.
  • Multiple Fund Options to suit your investment needs and zero premium allocation charges The plan lets you choose from 7 fund options basis the desired risk-return potential. Also, there is zero premium allocation charge.
  • Tax benefits You may be eligible for tax benefits on the premiums paid and the benefits received subject to the prevailing provisions. The tax benefits are subject to change as per change in Tax laws from time to time.

Case Study 1:

Ajay, 35 years old, is the Managing Director of a leading MNC company. He has accumulated savings and is looking for an investment solution where he can invest those savings and get stable returns. He is also considering buying Life Insurance product to safeguard his family, in event of an unfortunate death.

Scenario 1: Let us look at how Bharti AXA Life Grow Wealth helps Ajay to fulfill his investment goals

Premium Payment Term Single Pay
Single Premium Rs. 1,60,00,000
Policy Term 10 years
Sum Assured Rs. 2,00,00,000 (1.25 times the Single Premium)
Fund opted Grow Money Plus Fund to get higher returns from his investment
Fund Value on Maturity* @4% Rate of Investment Return
Rs.2,10,10,303 		@8% Rate of Investment Return
Rs. 3,06,70,169
  • Fund Value illustrated in the table is not guaranteed. 4% and 8% rate of investment returns are used only for illustration purposes and are not guaranteed.

Scenario 2: Let us look at how Bharti AXA Life Grow Wealth helps Ajay to fulfill his investment goals as well as safeguard his family’s future.

Premium Payment Term Single Pay
Single Premium Rs. 20,00,000
Policy Term 10 years
Sum Assured Rs. 2,00,00,000 (10 times the Single Premium)
Fund opted Grow Money Plus Fund to get higher returns from his investment
Fund Value on Maturity* @4% Rate of Investment Return
Rs. 23,60,614 		@8% Rate of Investment Return
Rs.35,16,325
  • Fund Value illustrated in the table is not guaranteed. 4% and 8% rate of investment returns are used only for illustration purposes and are not guaranteed.
Needs met:

1) At the end of 10 years, he will receive Fund Value on Maturity – which will also include additional Loyalty Additions accumulated over the duration of the Policy.

2) In event of Ajay's death in both the above scenarios, his family will receive the higher of Sum Assured of Rs. 2 crores or Policy Fund Value (including Loyalty Additions) at the time of death or 105% of all premiums paid.

The above Illustration is for Policy bought through offline channel.

Case Study 2:

Mr Verma, 45 years old, is a professional working in leading MNC. He has accumulated savings and is looking for an investment solution where he can invest those savings and get stable returns. He is considering buying a Life Insurance product to safeguard his family, in event of an unfortunate death. He is also considering some alternative to insure his wife, Mrs Verma, a 35 year old homemaker.

Let us look at how Bharti AXA Life Grow Wealth – Joint Life Option helps Mr. Verma to fulfill his investment goals as well as insure his wife and safeguard his family’s future

Premium Payment Term Single Pay
Single Premium Rs. 25,00,000
Policy Term 20 years
Policy Type Joint Life
Sum Assured Rs. 31,25,000 (1.25 times the single premium for 1st Death)
Rs. 2,50,00,000 (10 times the single premium for 2nd Death)
Fund opted Grow Money Plus Fund to get higher returns from his investment
Fund Value on Maturity* @4% Rate of Investment Return
Rs. 42,67,966		 @8% Rate of Investment Return
Rs. 92,06,948
  • Fund Value illustrated in the table is not guaranteed. 4% and 8% rate of investment returns are used only for illustration purposes and are not guaranteed.
Needs met:

1) At the end of 20 years, he will receive Fund Value on Maturity – which will also include additional Loyalty Additions accumulated over the duration of the Policy.

2) In event of Mr Verma’s death during the policy term, the Policy Fund Value (including any Loyalty Additions) will be set to higher of - 125% of single premium or existing Fund Value and Mrs. Verma; can continue the policy for remaining term. Mrs. Verma will be covered for 2.5 Crores, and in case of an unfortunate death during the policy term, nominee will receive death benefit.

The above Illustration is for Policy bought through offline channel.

Parameter Eligibility
Minimum age at entry (Age Last Birthday)
Policy Term Minimum Entry Age
5 years 13 years
10 years 8 years
15 years 3 years
20 years 0 years (91 days)
Under Joint Life Option inclusive of conditions above at least one of the two lives under Joint Life should be 18 years age last birthday on entry.
Maximum age at entry (Age Last Birthday)
Policy Term Maximum Entry Age
(For Single Life Option)		 Minimum Entry Age
(For Joint Life Option)
5 years 64 years 70 years
10 years 60 years 70 years
15 years 55 years 70 years
20 years 50 years 64 years
Maximum Maturity age
(Age Last Birthday)		 70 years for Single Life Option
85 years for Joint Life Option
Premium Modes Annual, Semi-Annual, Quarterly$ and Monthly$
Minimum Premium Minimum Premium varies by channel and premium payment option.

 

Channel\ Premium Payment Option Single Pay Limited/Regular Pay
Online Rs. 1,00,000 Rs. 26,000
Other than Online Rs. 1,50,000 Rs. 35,000
Maximum Premium No Limit, subject to Board Approved Underwriting Policy.
Minimum Sum Assured
Channel\ Premium Payment Option Single Pay Limited/Regular Pay
Online Rs. 1,25,000 Rs. 2,60,000
Other than Online Rs. 1,87,500 Rs. 3,50,000
Maximum Sum Assured No limit, Subject to Board Approved Underwriting Policy .
Policy Term & Premium Payment Term

The following Policy Terms and corresponding Premium Payment Terms (PPTs) are available under the product:

Policy Term options Premium Payment Term options
Single Life Option Joint Life Option
Single Pay 5 Years 7 Years 10 Years 15 Years 20 Years Single Pay
5 years
10 years
15 years
20 years

$ -Payable through ECS only

  • Option to choose higher coverage: You can now opt for higher coverage of 10 times the annualized premium even in the single pay variant of the product (for specific age groups). Thus, giving you the flexibility of choosing the desired protection.
  • Policy Administration charges for a limited period: Policy administration charges are only charged for a period of 5 years for single pay and for 10 years for limited/regular pay variants of the product.
  • Maturity Benefit: Subject to the Policy being in-force, at the time of Maturity, you will get your Policy Fund Value (including Loyalty Additions). The Policy Fund Value will reflect the returns during the duration of the Policy and is dependent on market conditions, your choice of funds etc.
  • Loyalty Additions: Subject to Policy being in-force, an additional 0.70% of fund value gets added every year from 6th year onwards till one year before maturity and 1.40% of fund value gets added on maturity. The loyalty additions reward you for staying invested in the policy for a longer duration. The longer you stay invested, the greater benefits you get in form of Loyalty Additions.

    • 1. Death Benefit (Single Life)

In case of death of the Life Insured during the Policy Term, the Sum Assured on Death will be payable to the Nominee or the Policyholder as the case may be, subject to Policy being in force

The Death Benefit will be highest of:

1. Sum Assured less all Partial Withdrawals made in the two year period immediately preceding the death of Life Insured.

2. 105% of all premiums paid as on date of death

3. Policy Fund Value (including any Loyalty Additions) as on the date of death of the Life Insured

1.1 Death Benefit (Joint Life)

A. In case of simultaneous death of both the Life Insured during the Policy Term, the Sum Assured on death will be payable to the Nominee or the Policyholder as the case may be, subject to Policy being in force.

The Death Benefit will be highest of:

1. Sum assured equal to 10 times single premium less Partial Withdrawals made in the two year period immediately preceding the death of Life Insured.

2. 105% of all premiums paid as on date of death

3. Policy Fund Value (including any Loyalty Additions) as on the date of death of the Life Insured

B. In case of first death, the Fund Value shall be set to be higher of Sum assured equal to 125% of Single Premium or Policy Fund Value (including any Loyalty Additions) as on date of death

C. In case of death of second life, provided the policy is in-force and all due premiums till the date of death have been paid, the Death Benefit will be payable immediately on death.

Death Benefit, which is the highest of:

1. Sum assured equal to 10 times Single premium less all partial withdrawals made during the two year period immediately preceding the date of death of the Life Assured.

2. Policy Fund Value (including any Loyalty Additions) as on date of death.

3. 105% of all premiums paid as on date of death

Sum Assured Will Be As Per Table Below:
For Single Premium Payment Policy
Option Policy Term Age at Entry (Age at Last Birthday) Sum Assured
Single Life Option   5 years 13 to 46 years Option 1: 125% * Single Premium
Option 2: 10 times Single Premium
47 to 64 years 125% * Single Premium
10 years 8 to 44 year Option 1: 125% * Single Premium
Option 2: 10 times Single Premium
45 to 60 years 125% * Single Premium
15 years 3 to 40 years Option 1: 125% * Single Premium
Option 2: 10 times Single Premium
41 to 55 years 125% * Single Premium
20 years 0 to 35 years Option 1: 125% * Single Premium
Option 2: 10 times Single Premium
36 to 50 years 125% * Single Premium
Joint Life Option 5,10, 15 years 18(at least one life) to 70 years Second Death: 10 * Single Premium
First Death: 1.25 * Single Premium
20 years 18(at least one life) to 64 years
For Regular Premium Payment Policy and Limited Premium Payment Policy
Sum Assured Higher of 
10 times Annualized Premium#
Or
(0.5* Policy Term* Annualized Premium) #

# Annualized premium is the premium selected by the policyholder at inception of the policy, excluding applicable taxes.

HERE ARE THE AGE WISE PREMIUM RATES

The below table shows the Mortality rates (for male lives) for all Ages in Online Channels and for

a) Single Premium Payment Policy and
b) Regular and Limited Premium Payment Policy if Annualized Premium >= Rs. 1,50,000 in Offline Channels

Mortality Charge per Rs. 1000 Sum at Risk per annum
Age Mortality Charge*
0 2.0854
1 1.7078
2 1.2865
3 0.9704
4 0.7338
5 0.5573
6 0.4270
7 0.3335
8 0.2704
9 0.2329
10 0.2170
11 0.2189
12 0.2345
13 0.2598
14 0.2905
15 0.3234
16 0.3558
17 0.3856
18 0.4119
19 0.4339
20 0.4515
21 0.4653
22 0.4758
23 0.4835
24 0.4894
25 0.4944
26 0.4993
27 0.5050
28 0.5125
29 0.5223
30 0.5348
31 0.5506
32 0.5706
33 0.5953
34 0.6249
35 0.6600
36 0.7011
37 0.7489
38 0.8040
39 0.8674
40 0.9404
41 1.0248
42 1.1224
43 1.2355
44 1.3665
45 1.5176
46 1.6909
47 1.8873
48 2.1065
49 2.3473
50 2.6071
51 2.8834
52 3.1733
53 3.4745
54 3.7859
55 4.1076
56 4.4419
57 4.7921
58 5.1631
59 5.5606
60 5.9910
61 6.4611
62 6.9776
63 7.5468
64 8.1748
65 8.8675
66 9.6306
67 10.4699
68 11.3910
69 12.4000
70 13.5034

* There is a 3 year setback for female lives

The below table shows the Mortality rates for all Ages for Regular and Limited Premium Payment Policy if Annualized Premium < Rs. 1,50,000 in Offline Channel

Mortality Charges per Rs. 1000 Sum at Risk per annum
Age Mortality Charge*
0 2.9195
1 2.3909
2 1.8011
3 1.3585
4 1.0273
5 0.7802
6 0.5978
7 0.4669
8 0.3785
9 0.3260
10 0.3038
11 0.3064
12 0.3283
13 0.3637
14 0.4067
15 0.4527
16 0.4981
17 0.5399
18 0.5766
19 0.6074
20 0.6321
21 0.6514
22 0.6661
23 0.6769
24 0.6851
25 0.6921
26 0.6990
27 0.7070
28 0.7175
29 0.7312
30 0.7487
31 0.7709
32 0.7989
33 0.8334
34 0.8748
35 0.9240
36 0.9816
37 1.0484
38 1.1256
39 1.2143
40 1.3165
41 1.4347
42 1.5713
43 1.7297
44 1.9131
45 2.1247
46 2.3672
47 2.6422
48 2.9491
49 3.2862
50 3.6500
51 4.0367
52 4.4426
53 4.8643
54 5.3002
55 5.7507
56 6.2186
57 6.7090
58 7.2284
59 7.7849
60 8.3874
61 9.0456
62 9.7687
63 10.5655
64 11.4447
65 12.4145
66 13.4829
67 14.6578
68 15.9474
69 17.3600
70 18.9047

The below table shows the Mortality rates for Joint Life Option - Single Premium Payment Policy:

Age of Life 1: 35 years

Age of Life 2: 40 years

Policy Term: 10 years

Mortality Charges per Rs. 1000 Sum at Risk per annum
Policy Year Mortality Charge 1 Mortality Charge 2
1 1.5991 0.0006
2 1.7244 0.0007
3 1.8696 0.0008
4 2.0375 0.0010
5 2.2315 0.0012
6 2.4551 0.0014
7 2.7122 0.0017
8 3.0054 0.0021
9 3.3368 0.0026
10 3.7073 0.0032

* There is a 3 year setback for female lives

  • Three year setback for female life.
  • Rates mentioned here are exclusive of GST.