Bharti Axa Bharti Axa

Bharti AXA Life Guaranteed Income Plan

(UIN: 130N073V02)
(ADVT II-JAN-2018-1589)

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.

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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

Policy Term

Premium Payment Term

15 years

8 years

19 years

10 years

23 years

12 years

29 years

15 years

 

Minimum age at entry

Policy Term

Age at Entry

15 years

3 years

19/23/29 years

91 days

The insurance cover will start immediately on policy commencement for all lives including minors.

Maximum age at entry

55 years for all Policy Terms

 

Maximum Age at Maturity

Policy Term

Age at Maturity

15 years

70 years

19 years

74 years

23 years

78 years

29 years

84 years

Minimum Sum Assured (₹)

25,000

Maximum Sum Assured (₹)

No Limit, subject to underwriting

 

Minimum Premium (₹)

Policy Term

Minimum Premium

15 years

₹ 7,167

19 years

₹ 5,370

23 years

₹ 4,259

29 years

₹ 3,375

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.