Bharti Axa Bharti Axa

Bharti AXA Life Super Endowment Plan

(UIN: 130N089V01)
(ADVT II-JAN-2018-1561)

A plan that helps to build your wealth, in a planned manner and meet your financial goals and future expenses.

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4 Reasons to Buy
  • Flexibility in Policy Term/Premium Payment Terms: Flexibility to choose from 10 combinations of policy terms and premium payment terms.
  • Guaranteed Benefits: Get Survival Benefit as 50% of the Sum Assured at the end of one year before the end of policy term and Sum Assured on Maturity as Maturity benefit at the end of the Policy term in case the Life Insured survives till that period and all premiums have been duly paid.
  • Extended Life Cover Benefit: An option to choose for Extended Life Cover benefit at inception of the policy by paying additional premium throughout the premium paying term.
  • 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 does the Product work?

Let’s take a look at this case study

Ravi, 35 years old has a son of 3 years old. He is looking for a simple plan that could double his returns and help him get guaranteed lump sum amount that can be utilized for his child’s post-graduation and also to shield his family against any unfortunate event that could happen to him.

He decides to pay a premium of Rs. 50,000 p.a. (exclusive of taxes) for which the Sum Assured is Rs. 671,772. He pays the premium for 10 years.

Benefits Payable End of Policy Year Guaranteed Benefit as % of Sum Assured Guaranteed Benefit
Survival Benefit 19th Year 50% ₹ 3,35,886
Maturity Benefit 20th Year Sum Assured on Maturity ₹ 6,71,772
Needs Met:
  • Ravi pays the premium for 10 years and receives Survival Benefit of Rs. 3,35,886 at the end of 19th year and Maturity Benefit of Rs. 6,71,772 at the end of 20th year.
  • Total Benefits received by Ravi is Rs. 1,007,658 which is double the premiums paid by him and can be utilized for his child’s higher education when his son turns 23 years old.
Sad Demise

In case of Ravi’s demise before Maturity of the Policy, his nominee/legal heir(s) would receive Rs. 6,71,772 as death benefit

Parameter Eligibility Criteria
Minimum age at entry Policy Term Age at Entry
16 years 2 years
18/20 years 91 days
The insurance cover will start immediately on policy commencement for all lives including minors.
Maximum age at entry 60 years for all Policy Terms In case Extended Life Cover is opted for, the maximum age at entry is 55 years age last birthday
Maximum age at Maturity Maximum Age Policy Term
76 years 16 years
78 years 18 years
80 years 20 years
Policy Term & Premium Payment Term Policy Term Premium Payment Term
16 years 8 years
18 years 9 years
20 years 8 to 15 years
The Policy Term is from the date of commencement of Policy till the Maturity Date and does not include the Extended Life Cover Period. The Extended Life Cover Period will start immediately after maturity
Minimum Sum Assured (₹) 50,000
Maximum Sum Assured (₹) No Limit, subject to underwriting
Minimum Premium (₹) Premium Payment Term Policy Term Minimum Annual Premium
8 16 5,955
9 18 4,939
8 20 5,238
9 4,530
10 4,003
11 3,740
12 3,494
13 3,317
14 3,132
15 3,004
Premium Payment Modes Annual, semi- annual, quarterly* & monthly*

*Through auto pay only

  • Survival Benefit: In case the Life Insured survives till a year before maturity of the Policy and all premiums are duly paid, Survival Benefit equal to Guaranteed Additions accrued as on the date of payment of Survival Benefit shall be payable at the end of one year before the end of policy term for all premium payment term and policy terms
  • Guaranteed Additions: Guaranteed Additions Subject to the Policy being in force and all due premiums being paid, Guaranteed Additions, equal to 10% of the Sum Assured shall accrue as per the schedule is given in the table below

    Guaranteed Additions/Policy term 16 years 18 years 20 years
    At the start of the policy year 11th 13th 15th
    12th 14th 16th
    13th 15th 17th
    14th 16th 18th
    15th 17th 19th
  • Maturity Benefit:  In case the Life Insured survives till the maturity of the Policy and all premiums are duly paid, then the Maturity benefit shall be paid as Sum Assured on Maturity to the policyholder for all premium payment term and policy terms.
  • Death Benefit:

    a) Without Extended Life Cover: In case of the unfortunate event of death of the Life Insured during the policy term the Sum Assured on Death will be paid to the nominee (s)/legal heirs where the Sum Assured on Death is highest of:

    • 11 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 Plus, any Guaranteed Additions accrued as on the date of death; or
    • Sum assured on Maturity equal to Sum Assured under the policy.

    *Annualized 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.

    Death Benefit shall be reduced by any Survival Benefit already paid.

    b) With Extended Life Cover: The policyholder also has the option to choose for Extended Life Cover benefit at inception of the policy by paying additional premium throughout the premium paying term. This coverage shall be applicable for the whole of policy term as well as for Extended Life Cover Period. Extended Life Cover Period is the number of years equal to half of the Policy Term, commencing from the Maturity Date.

     

    • If death of the Life Insured happens during the Policy Term, Sum Assured on Death as defined in Point 4 (a) above will be payable. In addition, Sum Assured as chosen at inception of the policy shall also be payable
    • If the death of the Life Insured happens after the Policy Term and during the Extended Life Cover Period, Sum Assured as chosen at inception of the policy shall be payable.

    Death Benefit shall be reduced by any Survival Benefit already paid.

When Extended Life Cover Is Not Chosen
Males - Policy Term (For Sum Assured 50,000 - 3,50,000)
Policy Term 16 18 20 20 20 20 20 20 20 20
Age/ Premium Payment term 8 9 8 9 10 11 12 13 14 15
0 98.78 104.76 90.60 80.06 74.79 69.88 66.34 62.63 60.07
10 119.19 98.91 104.87 90.72 80.19 74.92 70.00 66.46 62.75 60.20
20 119.57 99.13 105.22 91.01 80.46 75.19 70.25 66.71 62.98 60.45
30 119.79 99.26 105.36 91.16 80.59 75.33 70.39 66.84 63.11 60.59
40 120.93 99.85 106.26 91.99 81.37 76.12 71.19 67.64 63.91 61.43
50 126.72 103.39 113.00 96.05 84.39 79.07 74.07 70.54 66.81 64.35
60 141.50 115.18 130.95 105.84 90.16 84.90 79.82 76.40 72.66 70.29

When extended life Cover is chosen
Males - Policy Term (For Sum Assured : 50,000 - 3,50,000)
Policy Term 16 18 20 20 20 20 20 20 20 20
Age/ Premium Payment term 8 9 8 9 10 11 12 13 14 15
0 101.17 107.17 93 82.45 77.03 72.11 68.51 64.58 62
10 121.7 101.45 107.43 93.27 82.71 77.28 72.35 68.77 64.84 62.27
20 122.81 102.51 108.69 94.47 83.81 78.33 73.38 69.7 65.77 63.14
30 124.64 104.44 111.26 96.67 85.81 80.23 75.19 71.39 67.42 64.73
40 131 110.45 119.31 103.2 91.5 85.64 80.38 76.37 72.34 69.52
50 149.96 128.14 143.9 122.6 106.57 99.62 93.76 89.25 85.14 81.89
55 169.76 145.19 168.76 141.53 121.25 113.45 106.66 100.91 96.64 92.73

• * Rates are per thousand Sum Assured.
• * There is a 3 year setback for female lives.
• * High Sum Assured discount is available.

For added protection the following riders can be availed by paying additional premium along with Bharti AXA Life Super Endowment Plan

1) Bharti AXA Life Hospi Cash Rider (UIN: 130B007V02) :

This rider allows payment of a fixed benefit for each day of hospitalization and also provides lump sum benefit in case of surgery.

2) Bharti AXA Life Accidental Death Benefit Rider (UIN: 130B008V01) :

Under this rider you will receive additional sum assured as chosen in case of unfortunate event of death due to an accident.

3) Bharti AXA Life Premium Waiver Rider (UIN: 130B005V03) :

Under this rider in case of the unfortunate event of death, Total Permanent Disability or critical illness (in case of Policyholder) and Critical Illness (in case of Life Insured) the future premiums are waived off and the benefits under the policy will continue.

4) Bharti AXA Life Term Rider (UIN: 130B009V01) :

Under this rider the policyholder can increase the life insurance coverage for a nominal premium.
Please refer rider brochure for complete details on terms and conditions and exclusions before opting for the rider.