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.
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 |
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% |
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:
Death Benefit is payable in addition to any Survival Payout already paid.
| 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 |
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