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Bharti AXA Life Guaranteed Income Plan
(UIN: 130N073V02)
(ADVT II-Dec-2019-2004)
A savings plan that provides increasing income every year ensuring that the rising expenses are taken care of and Life Insurance coverage in case of an unfortunate event to keep your family covered even in the worst eventuality.
4 Reasons to Buy
- Flexibility in Policy Term/Premium Payment Terms: The product offers the choice of 4 policy terms with limited premium payment terms for the Policy Terms
- Increasing Survival Payouts: On Survival of the Life Assured till the end of the premium payment term, Survival Payouts are given as a percentage of ONE Annual Premium which increases every year at 10% of Annual Premium from the end of the premium payment term till one year before the end of the policy term
- Maturity Benefit: In case the Life Insured survives till the maturity of the Policy and all premiums are duly paid, then a Maturity benefit as a percentage of ONE Annual Premium is payable to the Policyholder on the date of maturity
- Tax benefits: You can avail the tax benefits on the premiums paid and the benefits received subject to the prevailing provisions under Income Tax Act, 1961. The tax benefits are subject to change as per change in Tax laws from time to time.
Plan Details
How it works?
Let’s take a look at this case study
Sarthak is 35 years old married man and is currently working with an MNC. He purchases Bharti AXA Life Guaranteed Income Plan and invests Rs. 50,000 p.a. (exclusive of taxes) as Annualized Premium. He chooses a policy term of 23 years and premium payment term of 12 years.
Let us look at how Bharti AXA Life Guaranteed Income Plan helps Sarthak receive Survival Payouts over a period of years and fulfil his future goals
| Benefits Payable | End of Policy Year | Survival Payout as % of Annual Premium | Survival Payout |
| Survival Payout | 12th Year | 115% | ₹ 57,500 |
| 13th Year | 125% | ₹ 62,500 | |
| 14th Year | 135% | ₹ 67,500 | |
| 15th Year | 145% | ₹ 72,500 | |
| 16th Year | 155% | ₹ 77,500 | |
| 17th Year | 165% | ₹ 82,500 | |
| 18th Year | 175% | ₹ 87,500 | |
| 19th Year | 185% | ₹ 92,500 | |
| 195% | ₹ 97,500 | ||
| 21st Year | 205% | ₹ 1,02,500 | |
| 22nd Year | 215% | ₹ 1,07,500 | |
| Maturity Benefit | 23rd Year | 225% | ₹ 1,12,500 |
Needs Met:
- Sarthak pays the premium for 12 years. After completion of the premium payment term, the Guaranteed Survival Payouts are given to Sarthak every year from the end of 12th year till the end of 22nd year
- He also receives Maturity benefit of Rs. 1,12,500 at the end of 23rd year.
Sad Demise
In case of Sarthak’s demise before Maturity of the Policy, his nominee would receive higher of ₹ 5,00,000 or 105% of all premiums paid as on date of death
| Parameter | Eligibility Criteria | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Policy Term & Premium Payment Term |
|
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|
Minimum age at entry |
The insurance cover will start immediately on policy commencement for all lives including minors. |
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|
Maximum age at entry |
55 years for all Policy Terms |
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|
Maximum Age at Maturity |
|
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|
Minimum Sum Assured (₹) |
25,000 |
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|
Maximum Sum Assured (₹) |
No Limit, subject to underwriting |
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|
Minimum Premium (₹) |
|
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|
Premium Payment Modes |
Annual, semi- annual, quarterly* & monthly* |
*Through auto pay only
Survival Payout*: On Survival of the Life Assured till the end of the premium payment term, Survival Payouts are paid as a percentage of ONE Annual Premium which increases every year at 10% of annual premium from the end of the premium payment term till one year before the end of the policy term. The Survival Payout percentage varies depending on the Annual Premium and is as given below
| End of Policy Year | Premium Payment Term | |||
|---|---|---|---|---|
| 8 years | 10 years | 12 years | 15 years | |
|
8 |
100% |
-- |
-- |
-- |
|
9 |
110% |
-- |
-- |
-- |
|
10 |
120% |
105% |
-- |
-- |
|
11 |
130% |
115% |
-- |
-- |
|
12 |
140% |
125% |
115% |
-- |
|
13 |
150% |
135% |
125% |
-- |
|
14 |
160% |
145% |
135% |
-- |
|
15 |
-- |
155% |
145% |
125% |
|
16 |
-- |
165% |
155% |
135% |
|
17 |
-- |
175% |
165% |
145% |
|
18 |
-- |
185% |
175% |
155% |
|
19 |
-- |
-- |
185% |
165% |
|
20 |
-- |
-- |
195% |
175% |
|
21 |
-- |
-- |
205% |
185% |
|
22 |
-- |
-- |
215% |
195% |
|
23 |
-- |
-- |
-- |
205% |
|
24 |
-- |
-- |
-- |
215% |
|
25 |
-- |
-- |
-- |
225% |
|
26 |
-- |
-- |
-- |
235% |
|
27 |
-- |
-- |
-- |
245% |
|
28 |
-- |
-- |
-- |
255% |
- Subject to the policy being in force and all due premiums being paid
Maturity Benefit: In case the Life Insured survives till the maturity of the Policy and all premiums are duly paid, then the benefits as mentioned below will be payable to the Policyholder on the date of maturity :
| Premium Payment Term | Maturity Date | MaturityBenefit as a % of one Annual Premium |
|---|---|---|
|
8 years |
End of 15th policy year |
170% of Annual Premium |
|
10 years |
End of 19th policy year |
195% of Annual Premium |
|
12 years |
End of 23rd policy year |
225% of Annual Premium |
|
15 years |
End of 29th policy year |
265% of Annual Premium |
Death Benefit: In case of death of the Life Insured provided the policy is in-force and all due premiums till the date of death have been paid during the policy term, the sum assured on death will be paid to the nominee which is highest of:
- 10 times annualized premium*
- 105% of all premiums paid as on date of death
- Absolute amount assured to be paid on death equal to the sum assured under the policy
- Sum assured on maturity;
Death Benefit is payable in addition to any Survival Payout already paid.
Here Are The Age Wise Premium Rates
| Males - Policy Term - Band 1 | ||||
|---|---|---|---|---|
|
Age/PPT |
8 |
10 |
12 |
15 |
|
20 |
303.69 |
226.66 |
180.93 |
142.36 |
|
25 |
309.10 |
229.69 |
183.93 |
144.00 |
|
30 |
320.66 |
236.11 |
189.63 |
146.32 |
|
35 |
350.01 |
249.97 |
199.87 |
149.99 |
|
40 |
395.55 |
273.30 |
216.17 |
157.33 |
|
45 |
445.17 |
307.59 |
249.45 |
171.55 |
|
50 |
534.54 |
369.34 |
309.19 |
197.74 |
|
55 |
746.36 |
515.69 |
448.49 |
245.94 |
- Premium rates are expressed as per’000 SA.
- The above table is for male lives.
- A 3 year setback will apply for female lives.
- For sum assured greater than 250,000, a volume discount of 3% will apply.
You may enhance your protection under this Plan by opting for the following rider(s):
- Bharti AXA Life Hospi Cash Rider:-: This rider allows payment of a fixed benefit for each day of hospitalization and also provides lump sum benefit in case of surgery. UIN: 130B007V03
- Bharti AXA Life Accidental Death Benefit Rider: Under this rider you will receive additional Sum Assured as chosen in case of unfortunate event of death due to an accident. UIN: 130B008V02
- Bharti AXA Life Premium Waiver Rider: Under this rider future premiums will be waived off in case of critical illness (for rider taken by Life Insured) and under Critical Illness/Death or ATPD/Both incase Rider is taken by proposer). UIN: 130B005V04
- Bharti AXA Life Term Rider: Under this rider the policyholder can increase the Life Insurance coverage for a nominal premium. UIN: 130B009V02 Please refer rider brochure for complete details on terms and conditions and exclusions before opting for the rider.
Riders are optional and are available at an extra cost.
Download Brochure