A plan that gives you the flexibility to choose your Policy Term and Premium Payment Term from 3 options. It makes sure you receive a steady stream of monthly income without staying invested in the plan for a very long time.
*Life Insurance coverage is available under this product.
Ask an Advisor35 year old Advait, works with an MNC, while his homemaker wife takes care of their 5 year old daughter. He wishes to secure his family's future by making a provision for monthly income, in case something unfortunate were to happen to him. So he chooses our Bharti AXA Life Monthly Advantage for 16 years with a Sum Assured of ₹ 2,50,000. He invests ₹ 37,405 for 8 years to receive a steady flow of monthly income.
Starts paying ₹ 37,405 (without Service Tax) for the next 8 years
He finishes paying annual premiums
In case of survival, he and his family will receive a monthly income of ₹ 3,429 until maturity for the next 8 years
At an assumed 8%* rate of return, he receives ₹ 1,49,600(Accrued Non-guaranteed bonuses) on maturity
Or
At an assumed 4%* rate of return, ₹ 19,800 (Accrued Non-guaranteed bonuses) on maturity
Disclaimer: *4% and 8% rates are used only for illustration purposes and are not guaranteed.
*The Gross rate of return shown above is the return earned on the participating fund of the company
In case of Advait’s demise, his family will receive a monthly income of ₹ 5,260 for 8 years and accrued bonus.
Parameter | Eligibility Criteria |
---|---|
Minimum age at entry | 6 years for 12 years policy term 2 years for 16 years policy term 91 days for 24 years policy term (The risk coverage will start immediately on policy commencement for all lives including minors) In case of the life insured being a minor at the time of policy issuance, the ownership of the policy will vest in the life insured on attainment of age 18 years, age last birthday. |
Maximum age at entry | 65 years for 12 & 16 years policy term 60 years for 24 years policy term |
Maximum Maturity Age | 77 years for 12 years policy term 81 years for 16 years policy term 84 years for 24 years policy term |
Minimum Monthly Income | Rs 928 for 12 years policy term Rs 642 for 16 years policy term Rs 370 for 24 years policy term |
Minimum Sum Assured | Rs. 50,000 for all policy terms |
Minimum Premium | Rs 10,600 for 12 year policy term Rs 7,000 for 16 year policy term Rs 3,700 for 24 year policy term |
Policy Term | 12, 16 and 24 years |
Premium Payment Term | 6, 8 and 12 years for 12, 16 and 24 years policy term respectively |
Premium Payment Modes | Annual, Semi Annual, Quarterly* & Monthly* |
* Through ECS only
You have the flexibility to choose your Policy term from 3 options. The corresponding Premium Payment Term for each policy term is as mentioned below
Policy Term | Premium Payment Term |
---|---|
12 Years |
6 Years |
16 Years |
8 Years |
24 Years |
12 Years |
At Maturity, you receive Non-Guaranteed Annual Reversionary Bonus (if any) plus Non-Guaranteed Terminal Bonus (if any), subject to the policy being in force.
Non-Guaranteed Simple Annual Reversionary Bonuses (if any) get accrued to the policy from the end of 1st policy year and get paid out on Maturity, Death or Accidental Total Permanent Disability. You may also receive Non-Guaranteed terminal bonus (if any).
In the event of death or Accidental Total Permanent Disability (whichever is earlier), provided the policy is in force & all premiums have been paid, the insurance benefit is paid out which is higher of the following
The benefit will be paid in equal monthly instalments starting immediately from the next monthly anniversary following date of death or ATPD and will be payable for the number of months as mentioned in the table below.
Policy Term | No. of months for which Death Benefit will be payable |
---|---|
12 years |
72 months |
16 years |
96 months |
24 years |
144 months |
The non-guaranteed vested simple Reversionary Bonus along with Terminal Bonus (if any), shall be payable as lump sum immediately on Death of Life Insured.
Subject to the policy being in force, the Guaranteed Monthly Income on Survival (as displayed in the table below) will be payable monthly starting from the end of the next month after the completion of the Premium Payment Term and will be payable for 72 months for 12 year policy term, 96 months for 16 year policy term and 144 months for 24 year policy term.
Policy Term | Premium Payment Term | Guaranteed Monthly Income on Survival as % of (annual premium/12) |
---|---|---|
12 years |
6 years |
105% |
16 years |
8 years |
110% |
24 years |
12 years |
120% |
Premium rates (per ₹ 1000 Sum Assured per annum) - Band 1 (₹ 50000 - ₹ 500000)
For Male Lives | |||
---|---|---|---|
Policy Term | 12 years | 16 years | 24 years |
Age\Premium Payment Term | 6 years | 8 years | 12 years |
0 |
75.65 |
||
1 |
75.89 |
||
2 |
142.30 |
76.01 |
|
3 |
142.52 |
76.35 |
|
4 |
142.71 |
76.56 |
|
5 |
142.89 |
76.87 |
|
6 |
217.50 |
143.01 |
77.01 |
7 |
217.81 |
143.23 |
77.11 |
8 |
217.90 |
144.00 |
77.37 |
9 |
217.96 |
144.17 |
77.38 |
10 |
218.14 |
144.25 |
77.42 |
11 |
218.41 |
144.36 |
77.47 |
12 |
218.74 |
144.51 |
77.53 |
13 |
219.09 |
144.66 |
77.60 |
14 |
219.43 |
144.82 |
77.67 |
15 |
219.76 |
144.98 |
77.74 |
16 |
220.05 |
145.12 |
77.80 |
17 |
220.31 |
145.25 |
77.86 |
18 |
220.53 |
145.36 |
77.92 |
19 |
220.73 |
145.46 |
77.97 |
20 |
220.89 |
145.56 |
78.02 |
21 |
221.05 |
145.65 |
78.07 |
22 |
221.20 |
145.74 |
78.13 |
23 |
221.36 |
145.84 |
78.19 |
24 |
221.53 |
145.95 |
78.26 |
25 |
221.74 |
146.08 |
78.34 |
26 |
221.98 |
146.23 |
78.43 |
27 |
222.28 |
146.41 |
78.53 |
28 |
222.63 |
146.62 |
78.66 |
29 |
223.06 |
146.87 |
78.80 |
30 |
223.57 |
147.17 |
78.96 |
31 |
224.17 |
147.52 |
79.13 |
32 |
224.89 |
147.94 |
79.34 |
33 |
225.75 |
148.42 |
79.56 |
34 |
226.76 |
148.98 |
79.81 |
35 |
227.94 |
149.62 |
80.11 |
36 |
229.31 |
150.34 |
80.47 |
37 |
230.91 |
151.17 |
80.87 |
38 |
232.75 |
152.09 |
81.32 |
39 |
234.88 |
153.13 |
81.82 |
40 |
237.31 |
154.42 |
82.39 |
41 |
240.09 |
155.89 |
83.02 |
42 |
243.24 |
157.53 |
83.74 |
43 |
246.81 |
159.36 |
84.55 |
44 |
250.84 |
161.42 |
85.48 |
45 |
255.37 |
163.73 |
86.52 |
46 |
260.47 |
166.32 |
87.67 |
47 |
266.17 |
169.21 |
88.95 |
48 |
272.75 |
172.44 |
90.36 |
49 |
280.43 |
176.03 |
91.91 |
50 |
289.08 |
180.03 |
93.61 |
51 |
298.82 |
184.76 |
95.47 |
52 |
309.89 |
190.07 |
97.51 |
53 |
322.57 |
196.05 |
99.81 |
54 |
339.18 |
202.86 |
102.39 |
55 |
359.77 |
210.66 |
105.25 |
56 |
384.92 |
220.42 |
108.46 |
57 |
416.39 |
232.07 |
112.12 |
58 |
456.98 |
246.13 |
116.46 |
59 |
511.31 |
263.44 |
121.48 |
60 |
587.64 |
285.23 |
127.36 |
61 |
621.64 |
313.42 |
|
62 |
671.64 |
351.15 |
|
63 |
700.02 |
403.99 |
|
64 |
749.45 |
482.83 |
|
65 |
780.23 |
612.32 |
Premium rates (per 1000 Sum Assured per annum) -Band 2 (₹ 500001 & above)
For Male Lives | |||
---|---|---|---|
Policy Term | 12 years | 16 years | 24 years |
Age\Premium Payment Term | 6 years | 8 years | 12 years |
0 |
68.45 |
||
1 |
68.55 |
||
2 |
131.56 |
68.72 |
|
3 |
131.98 |
68.85 |
|
4 |
132.04 |
68.98 |
|
5 |
132.23 |
69.11 |
|
6 |
202.94 |
132.59 |
69.35 |
7 |
203.00 |
132.86 |
69.51 |
8 |
203.09 |
133.02 |
69.72 |
9 |
203.14 |
133.35 |
69.89 |
10 |
203.31 |
133.42 |
69.92 |
11 |
203.56 |
133.53 |
69.97 |
12 |
203.86 |
133.66 |
70.02 |
13 |
204.19 |
133.81 |
70.09 |
14 |
204.51 |
133.96 |
70.15 |
15 |
204.81 |
134.10 |
70.21 |
16 |
205.09 |
134.23 |
70.27 |
17 |
205.33 |
134.35 |
70.33 |
18 |
205.54 |
134.45 |
70.38 |
19 |
205.72 |
134.55 |
70.43 |
20 |
205.87 |
134.64 |
70.47 |
21 |
206.02 |
134.72 |
70.52 |
22 |
206.16 |
134.81 |
70.57 |
23 |
206.30 |
134.90 |
70.63 |
24 |
206.47 |
135.00 |
70.69 |
25 |
206.66 |
135.12 |
70.77 |
26 |
206.89 |
135.26 |
70.85 |
27 |
207.16 |
135.42 |
70.95 |
28 |
207.49 |
135.62 |
71.06 |
29 |
207.89 |
135.86 |
71.20 |
30 |
208.37 |
136.13 |
71.34 |
31 |
208.93 |
136.46 |
71.51 |
32 |
209.60 |
136.85 |
71.70 |
33 |
210.38 |
137.30 |
71.91 |
34 |
211.30 |
137.81 |
72.15 |
35 |
212.38 |
138.41 |
72.41 |
36 |
213.63 |
139.08 |
72.70 |
37 |
215.09 |
139.84 |
73.02 |
38 |
216.77 |
140.70 |
73.38 |
39 |
218.70 |
141.66 |
73.78 |
40 |
220.92 |
142.74 |
74.24 |
41 |
223.44 |
143.94 |
74.74 |
42 |
226.34 |
145.29 |
75.31 |
43 |
229.66 |
146.79 |
75.95 |
44 |
233.41 |
148.47 |
76.66 |
45 |
237.63 |
150.34 |
77.45 |
46 |
242.37 |
152.44 |
78.32 |
47 |
247.68 |
154.99 |
79.29 |
48 |
253.62 |
157.95 |
80.41 |
49 |
260.25 |
161.25 |
81.77 |
50 |
267.68 |
164.92 |
83.27 |
51 |
276.51 |
169.00 |
84.92 |
52 |
286.75 |
173.58 |
86.77 |
53 |
298.47 |
178.71 |
88.81 |
54 |
312.06 |
184.83 |
91.06 |
55 |
328.38 |
191.96 |
93.57 |
56 |
351.33 |
200.25 |
96.38 |
57 |
380.05 |
210.02 |
99.62 |
58 |
417.10 |
222.65 |
103.40 |
59 |
466.68 |
238.34 |
107.76 |
60 |
536.35 |
258.09 |
112.90 |
61 |
559.48 |
283.64 |
|
62 |
604.48 |
317.83 |
|
63 |
630.02 |
365.72 |
|
64 |
674.51 |
437.18 |
|
65 |
702.21 |
554.54 |