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Bharti AXA Life Income Protection plan

(UIN: 130N071V03)
(ADVT II-Dec-2019-2011)

A plan where your family receives income in the form of annual instalments for a period of 15 or 20 years in case of an unfortunate event of death. 100-120% of premiums paid are returned at the end of the policy term as a lump sum survival benefit.

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4 Reasons to Buy
  • Provides an annual pre-planned income for your financially dependent family in order to take care of their recurring expenses in case of the unfortunate event of death
  • Term with 'Return of Premium' plan, which allows you to receive all your invested premiums* as Maturity benefit. Thus allowing you to avail maximum benefits from one plan (*Premiums are exclusive of Service Tax & underwriting extra)
  • Two death benefit options available, which allow flexibility in duration of payouts depending on your financial outlook
  • Tax benefits on the premiums paid as well as the benefits received as per the prevailing tax laws under Section 80C and Section 10 (10D) of the 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

Sujay, 35 years old decides to purchase Bharti AXA Life Income Protection plan, because he wants a plan that will ensure his wife and 3-year-old child remain financially protected in case something unfortunate were to happen to him. Since the plan also ensures that if he were to survive till the end of the policy term, he will receive all the premiums that he has paid over the entire term thus ensuring that he receives commensurate benefits for the premiums he invests whether it is in the form of the Death Benefit or Maturity Benefit.

For the Sum Assured selected, Sujay will need to pay Rs. 28,650 (exclusive of Service Tax) as annual premium. Benefits he will receive will be as following:

Benefits Amount Payable
Death Benefit ₹ 25,00,000 (paid as annual instalment of ₹ 1,91,250 for 20 years)
Maturity Benefit ₹ 6,87,600 (Option B)

(If the customer were to opt for Maturity Benefit Option A instead of Maturity benefit Option A at inception, the amount received at maturity would be Rs. 573,000)


Parameter Eligibility Criteria

Minimum age at entry

18 years

Maximum age at entry

58 years for policy term of 12 years
55 years for policy term of 15 years
50 years for policy term of 20 years

Maximum Age at Maturity entry

70 years

Premium Payment Term & Policy Term

12 years, 15 years and 20 years

Minimum Sum Assured (₹)

Rs 5,00,000

Maximum Sum Assured (₹)

No Limit, subject to underwriting

Minimum Premium (₹)

Policy Term of 12 years
Maturity Benefit Option A = ₹ 4,990
Maturity Benefit Option B = ₹ 7,480

Policy Term of 15 years
Maturity Benefit Option A = ₹ 3,565
Maturity Benefit Option B = ₹ 5,530

Policy Term of 20 years
Maturity Benefit Option A = ₹ 2,730
Maturity Benefit Option B = ₹ 3,825

Premium Payment Modes

Annual, semi-annual, quarterly* & monthly*

*ECS only

1. Three Policy Term Options: You have the flexibility to choose your Policy Term from 3 options. i.e. 12 years, 15 years and 20 years. The premium payment term is the same as the policy term.

2. Maturity Benefit: You can receive up to 120% of the premiums* paid till end of the Policy Term, provided policy is in force (depending on the Maturity benefit Option chosen) as your Maturity benefit. There are two Maturity Benefit options available under this plan as given below:

Policy Term 12 years 15 years 20 years
Maturity Benefit Option A 100% 100% 100%
Maturity Benefit Option B 110% 115% 120%

Once selected, the Maturity Benefit option cannot be changed during the course of the Policy Term.
*Premium excludes service tax & underwriting extra

3. Death Benefit Payable: In the event of death, provided the policy is in force & all due premiums have been paid the death benefit will be paid out as equal annual instalments for 15 years or 20 years depending on the death benefit option selected by the customer. The death benefit applicable will be highest of the following:

  • 10 times annualised 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 
*Annualised Premium shall be the premium payable in a year chosen by the policyholder, excluding the underwriting extra premiums and loadings for modal premiums, if any. The death benefit option once selected cannot be changed. The nominee also has the option to claim the death benefit as lump sum instead of instalments. However, the nominee will have to intimate the Company of the same prior to the payment of the first instalment.

How does the plan work?

Step 1: Choose the preferred Policy Term

Choose the policy term depending on the years you want to remain protected and as per your financial goals. You have the option to choose between the policy terms of 12, 15 or 20 years

Step 2: Choose the Maturity Benefit Option

Choose between the Maturity Benefit options as given below.

Maturity Benefit Option A – 100% of the premium paid 
Maturity Benefit Option B – 110%, 115% or 120% of the premium paid depending on the policy term chosen

Step 3: Choose the preferred Sum Assured

Choose the sum assured depending on the amount for which you wish to be covered. This can be determined basis your requirement of financial protection

Step 4: Choose the death benefit payout option

You have the option to choose the number of years over which you will want the death benefit to be paid to your family in equal annual installments. You can choose between:

  • Death Benefit payable annually in equal annual installments for 15 years
  • Death Benefit payable annually in equal annual installments for 20 years
Here Are The Age Wise Premium Rates
Premium rates (per 1000 Sum Assured per annum) - Band 1 (₹ 5,00,000 - 24,99,999)
For Male Lives
Policy Term 12 Years Policy Term 15 Years Policy Term 20 Years
Age\Return of Premium option 100% 110% Age\Return of Premium option 100% 115% Age\Return of Premium option 100% 120%
18 9.98 14.96 18 7.13 11.06 18 5.46 7.65
19 10.07 15.1 19 7.21 11.18 19 5.55 7.77
20 10.17 15.26 20 7.32 11.35 20 5.62 7.86
21 10.22 15.33 21 7.4 11.47 21 5.67 7.94
22 10.27 15.41 22 7.48 11.6 22 5.77 8.08
23 10.47 15.7 23 7.55 11.72 23 5.88 8.22
24 10.57 15.86 24 7.67 11.89 24 5.98 8.37
25 10.69 16.03 25 7.78 12.07 25 6.06 8.49
26 10.79 16.19 26 7.93 12.28 26 6.16 8.64
27 11.05 16.57 27 8.11 12.57 27 6.36 8.9
28 11.29 16.94 28 8.34 12.92 28 6.52 9.14
29 11.64 17.46 29 8.54 13.24 29 6.76 9.47
30 11.85 17.77 30 8.84 13.7 30 7.03 9.84
31 12.3 18.45 31 9.18 14.24 31 7.32 10.24
32 12.74 19.1 32 9.56 14.83 32 7.65 10.71
33 13.32 19.99 33 10.02 15.53 33 8.06 11.28
34 13.89 20.83 34 10.52 16.31 34 8.48 11.88
35 14.58 21.87 35 11.09 17.19 35 8.97 12.55
36 15.28 22.92 36 11.76 18.23 36 9.51 13.32
37 16.29 24.44 37 12.5 19.38 37 10.1 14.14
38 17.15 25.73 38 13.31 20.64 38 10.58 14.82
39 18.46 27.69 39 14.33 22.22 39 11.27 15.78
40 19.82 29.73 40 15.58 24.15 40 12.26 17.16
41 21.4 31.78 41 16.93 25.99 41 13.31 18.64
42 23.27 34.21 42 18.39 27.96 42 14.41 20.18
43 25.13 36.56 43 19.5 29.35 43 15.6 21.84
44 26.99 38.87 44 21.08 31.41 44 16.91 23.67
45 29.25 41.68 45 22.77 33.58 45 18.3 25.62
46 30.74 43.35 46 24.5 35.79 46 19.76 27.67
47 32.89 45.89 47 26.38 38 47 21.32 29.84
48 35.29 48.7 48 28.29 40.21 48 22.96 32.15
49 37.57 51.11 49 30.28 42.42 49 24.66 34.53
50 40 53.52 50 32.33 44.63 50 26.42 36.99
51 42.64 55.93 51 34.41 46.84 51    
52 45.23 58.34 52 36.55 49.05 52    
53 47.77 60.75 53 38.77 51.26 53    
54 50.58 63.16 54 40.98 53.47 54    
55 53.12 65.57 55 43.31 55.68 55    
56 55.88 67.98 56     56    
57 58.39 70.39 57     57    
58 60.97 72.8 58     58    

 

Premium rates (per 1000 Sum Assured per annum) - Band 2 (₹ 25,00,000 - 49,99,999)
For Male Lives
Policy Term 12 Years Policy Term 15 Years Policy Term 20 Years
Age\Return of Premium option 100% 110% Age\Return of Premium option 100% 115% Age\Return of Premium option 100% 120%
18 9.41 14.12 18 6.44 9.99 18 4.99 6.99
19 9.49 14.24 19 6.51 10.1 19 5.06 7.09
20 9.59 14.39 20 6.61 10.24 20 5.13 7.19
21 9.64 14.46 21 6.68 10.36 21 5.18 7.25
22 9.69 14.53 22 6.76 10.48 22 5.27 7.38
23 9.87 14.81 23 6.82 10.58 23 5.37 7.52
24 9.98 14.96 24 6.93 10.74 24 5.46 7.65
25 10.08 15.12 25 7.03 10.9 25 5.54 7.75
26 10.17 15.26 26 7.16 11.11 26 5.63 7.88
27 10.42 15.63 27 7.33 11.37 27 5.81 8.14
28 10.64 15.97 28 7.53 11.69 28 5.96 8.35
29 10.98 16.47 29 7.72 11.96 29 6.17 8.65
30 11.17 16.75 30 7.99 12.39 30 6.42 9
31 11.6 17.4 31 8.3 12.86 31 6.68 9.36
32 12 18.01 32 8.64 13.38 32 6.99 9.79
33 12.56 18.84 33 9.05 14.02 33 7.36 10.3
34 13.1 19.65 34 9.5 14.73 34 7.74 10.84
35 13.75 20.62 35 10.02 15.53 35 8.18 11.46
36 14.4 21.6 36 10.61 16.45 36 8.69 12.17
37 15.36 23.05 37 11.28 17.49 37 9.22 12.91
38 16.18 24.26 38 12.03 18.64 38 9.67 13.54
39 17.4 26.11 39 12.94 20.06 39 10.29 14.41
40 18.69 28.03 40 14.06 21.8 40 11.19 15.67
41 20.17 29.96 41 15.28 23.46 41 12.15 17.01
42 21.94 32.26 42 16.6 25.23 42 13.16 18.42
43 23.68 34.47 43 17.61 26.51 43 14.24 19.94
44 25.45 36.64 44 19.03 28.36 44 15.43 21.61
45 27.57 39.29 45 20.55 30.32 45 16.7 23.39
46 28.98 40.87 46 22.12 32.31 46 18.04 25.26
47 31.01 43.25 47 23.82 34.3 47 19.45 27.24
48 33.27 45.92 48 25.54 36.29 48 20.96 29.34
49 35.42 48.19 49 27.33 38.28 49 22.51 31.51
50 37.7 50.46 50 29.18 40.27 50 24.12 33.77
51 40.2 52.73 51 31.06 42.26 51    
52 42.64 55 52 33 44.25 52    
53 45.03 57.27 53 35 46.24 53    
54 47.67 59.54 54 36.99 48.23 54    
55 50.07 61.81 55 39.09 50.22 55    
56 52.68 64.08 56     56    
57 55.04 66.35 57     57    
58 57.47 68.62 58     58    

 

Premium rates (per 1000 Sum Assured per annum) - Band 3 (₹ 50,00,000 and above)
For Male Lives
Policy Term 12 Years Policy Term 15 Years Policy Term 20 Years
Age\Return of Premium option 100% 110% Age\Return of Premium option 100% 115% Age\Return of Premium option 100% 120%
18 8.76 13.14 18 5.8 9 18 4.25 5.95
19 8.83 13.25 19 5.87 9.09 19 4.31 6.04
20 8.92 13.38 20 5.95 9.22 20 4.37 6.12
21 8.97 13.45 21 6.02 9.34 21 4.4 6.16
22 9.02 13.53 22 6.09 9.45 22 4.49 6.28
23 9.18 13.78 23 6.14 9.52 23 4.57 6.4
24 9.29 13.93 24 6.24 9.67 24 4.65 6.51
25 9.38 14.06 25 6.33 9.81 25 4.71 6.6
26 9.46 14.19 26 6.45 10.01 26 4.79 6.71
27 9.7 14.55 27 6.6 10.22 27 4.95 6.93
28 9.9 14.86 28 6.78 10.51 28 5.07 7.1
29 10.22 15.33 29 6.96 10.79 29 5.26 7.36
30 10.4 15.6 30 7.19 11.15 30 5.46 7.65
31 10.8 16.2 31 7.47 11.58 31 5.68 7.96
32 11.17 16.75 32 7.78 12.07 32 5.95 8.33
33 11.69 17.53 33 8.15 12.64 33 6.26 8.76
34 12.19 18.29 34 8.55 13.26 34 6.59 9.22
35 12.79 19.18 35 9.02 13.98 35 6.96 9.74
36 13.41 20.11 36 9.55 14.81 36 7.39 10.35
37 14.29 21.44 37 10.16 15.75 37 7.84 10.98
38 15.05 22.58 38 10.83 16.79 38 8.22 11.52
39 16.19 24.28 39 11.65 18.07 39 8.76 12.26
40 17.39 26.08 40 12.66 19.63 40 9.52 13.33
41 18.76 27.87 41 13.76 21.12 41 10.34 14.48
42 20.41 30.01 42 14.94 22.71 42 11.19 15.67
43 22.04 32.07 43 15.86 23.87 43 12.11 16.95
44 23.67 34.1 44 17.13 25.53 44 13.13 18.38
45 25.64 36.54 45 18.5 27.3 45 14.2 19.88
46 26.96 38.01 46 19.91 29.09 46 15.34 21.48
47 28.84 40.24 47 21.44 30.88 47 16.54 23.15
48 30.95 42.71 48 22.99 32.67 48 17.81 24.94
49 32.94 44.82 49 24.6 34.46 49 19.14 26.81
50 35.07 46.93 50 26.27 36.25 50 20.5 28.7
51 37.38 49.04 51 27.96 38.04 51    
52 39.66 51.15 52 29.7 39.83 52    
53 41.88 53.26 53 31.51 41.62 53    
54 44.35 55.37 54 33.29 43.41 54    
55 46.57 57.48 55 35.19 45.2 55    
56 49 59.59 56     56    
57 51.19 61.7 57     57    
58 53.45 63.81 58     58
You may enhance your protection under this Plan by opting for the following rider:
  • Bharti AXA Life Term Rider (UIN: 130B009V02): Under this rider the policyholder can increase the life insurance coverage for a nominal premium.
    Please refer to the 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.