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 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
Ask an AdvisorAjay, 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 a Life Insurance product to safeguard his family, in event of an unfortunate death.
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. 20,00,000 | |
Policy Term | 10 years | |
Sum Assured | Rs. 25,00,000 (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. 25,87,451 |
8% Rate of Investment Return Rs. 37,82,292 |
1) Since there is no Premium allocation charge, 100% of Single Premium will be invested in the funds of his choice.
2) 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.
In case of unfortunate event of death, Ajay’s family will receive higher of Sum Assured of ₹ . 25 Lacs or Policy Fund Value (including Loyalty Additions) at the time of intimation of death or 105% of all premiums paid
35 year old Rishab chooses our Bharti AXA Life Grow Wealth and would like to invest in the Grow Money Plus Fund. He chooses a policy term of 10 years with a single premium payment of Rs. 20,00,000.
Rishab can opt for a Sum Assured of 2 crores (10 times the Annualized Premium) to provide additional protection to his family
Let us look at how Bharti AXA Life Grow Wealth helps Rishab 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 |
In event of unfortunate death, his family will receive Sum Assured of ₹ . 2,00,00,000 or Policy Fund Value (including Loyalty Additions) at the time of intimation of death or 105% of all premiums paid as on date of death, whichever is higher, in this case
Parameter | Eligibility Criteria | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Policy term | 5 Years | 10 Years | 15 Years | 20 Years | |||||||||
Premium Payment Term | Single Pay /5 Years | Single Pay /5 Years /7 Years /10 years |
Single Pay /5 Years /7 Years /10 years /15 years |
Single Pay /5 Years /7 Years /10 years / 20 years |
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Minimum age at entry (age last birthday) |
13 Years | 8 years | 3 Years | 91 days | |||||||||
Maximum age at entry (age last birthday) |
64 Years | 60 years | 55 Years | 50 Years | |||||||||
Maximum Maturity Age (age last birthday) |
70 Years | ||||||||||||
Minimum Premium | Minimum Premium varies by channel and premium payment option.
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Maximum Premium | No Limit, subject to Board Approved Underwriting Policy | ||||||||||||
Premium Payment Modes | Annual, Semi- Annual, Quarterly*, Monthly* |
* Through ECS only
1. If Death of Life Insured occurs before attaining Age 60 years (age last birthday): Sum Assured less all Partial Withdrawals made in the two-year period immediately preceding the death of Life Insured. If Death of Life Insured occurs after attaining Age 60 years (age last birthday): Sum Assured less all Partial Withdrawals made after attaining Age 58 years (age last birthday)
2. 105% of all premiums paid as on date of death
3. Policy Fund Value (including any Loyalty Additions) as on the date of intimation of death of the Life Insured
For Single Premium Payment Policy | |||
---|---|---|---|
Policy Term | Age at Entry (Age at Last Birthday) | Sum Assured | |
5 years | 13 to 47 years |
Option 1: 125% * Single Premium Option 2: 10 times Single Premium |
|
48 to 64 years | 125% * Single Premium | ||
10 years | 8 to 45 years |
Option 1: 125% * Single Premium Option 2: 10 times Single Premium |
|
46 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 | ||
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 risk commencement date, excluding GST
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 |
* There is a 3 year setback for female lives