Bharti AXA Life Assure Benefit Plan(UIN:130N093V01)
(ADVT No. II-Oct-2018-1754)

Life Insurance plan that provides life insurance coverage in case of death and is also designed to take care of multiple needs and future expenses.

4 REASONS TO BUY

  • Flexibility in Policy Term/Premium Payment Terms: The product offers the choice of 6 combinations of policy terms and premium payment terms.

  • Guaranteed Additions and Guaranteed Maturity Addition: Get Guaranteed Additions as 3% of the Sum Assured accrued at the end of every Policy year starting from the first policy year till maturity and is payable at the time of maturity.

    The Guaranteed Maturity Addition will be payable on the date of Maturity as a percentage of Sum Assured which can vary from 20% to 40%.

  • Maturity Benefit along with Reversionary Bonus: Maturity Benefit will be payable as Sum Assured on Maturity plus Guaranteed Additions accrued till date of Maturity plus Simple Reversionary bonus accrued till maturity.

    Sum Assured on Maturity means Sum Assured chosen under the policy plus Guaranteed Maturity Addition

  • 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

Sunil works in an IT company and is 40 years old and has a 5 year old son. He is looking for a simple plan which can accumulate sufficient wealth and helps him get lump sum amount along with good returns at a time where the corpus amount can be utilized for his child’s marriage or for higher education purpose.

Sunil decides to purchase Bharti AXA Life Assure Benefit Plan for a policy term of 20 years for which the premium payment term is 10 years. He decides to pay a premium of Rs. 50,000 p.a. (exclusive of taxes) for which the Sum Assured is Rs.336,973.

Let us look at the benefits that Sunil would receive at the end of 20th Policy year so as to fulfil his future goals

Benefits Payable Benefit Amount @ 4% (Rs.) Benefit Amount @ 8% (Rs.)
Sum Assured Rs. 336,973 Rs. 336,973
Guaranteed Additions accumulated till date of maturity Rs. 202,184 Rs. 202,184
Guaranteed Maturity Addition Rs. 101,092 Rs. 101,092
Simple Reversionary Bonus accumulated till date of maturity Rs. 151,553 Rs. 558,583
Total Maturity Benefit Rs. 791,801 Rs. 1,198,831

In case of death of Sunil during the policy term, his family would receive death benefit as higher of :

  • the Sum Assured on Death; plus Guaranteed Additions accrued till the date of death; plus Simple Reversionary Bonus accrued till the date of death or
  • 105% of all premiums paid as on the date of death

The above example is for illustration purpose only. 4% and 8% rate of investment returns are used only for illustration purposes and are not guaranteed and the actual benefits may vary
Who can buy?
Parameter Eligibility Criteria
Minimum age at entry
Policy Term Age at Entry
14 years 4 years
16 years 2 years
18 – 24 years 91 days

The insurance cover will start immediately on policy commencement for all lives including minors.
Maximum age at entry
Policy Term Age at Entry
14 years 66 years
16 years 64 years
18 years 62 years
20 years 60 years
22 years 58 years
24 years 56 years
Maximum age at Maturity 80 years age last birthday
Policy Term & Premium Payment Term
Policy Term Premium Payment Term
14 years 7 years
16 years 8 years
18 years 9 years
20 years 10 years
22 years 11 years
24 years 12 years
Minimum Sum Assured (Rs.) Rs 50,000
Maximum Sum Assured (Rs.) No Limit, subject to underwriting
Minimum Premium (Rs.)
Premium Payment Term Policy Term Minimum Annual Premium
7 years 14 years 10,337
8 years 16 years 9,359
9 years 18 years 8,172
10 years 20 years 7,170
11 years 22 years 6,558
12 years 24 years 6,032
Premium Payment Modes Annual, semi- annual, quarterly* & monthly*
*Through auto pay only
View Details

View Details

1. Guaranteed Additions: Subject to the policy being in force and all due premiums being paid, Guaranteed Additions will accrue as 3% of the Sum Assured at the end of every Policy year starting from the first policy year till maturity.
The accrued Guaranteed Additions will be payable on maturity or death, whichever is earlier.
If a Policy becomes Paid Up, the Guaranteed Additions will accrue on the Paid Up Sum Assured.

2. Guaranteed Maturity Addition: In case the Life Insured survives till Maturity Date and all due premiums have been paid, the Guaranteed Maturity Addition will be payable to the Policyholder on the date of Maturity.

The Guaranteed Maturity Addition is determined as Guaranteed Maturity Addition% X Sum Assured, where the Guaranteed Maturity Addition% varies according to premium bands as below:

Premium* (INR) Guaranteed Maturity Addition %
(as a % of Sum Assured)
< 40,000 20%
40,000 to less than 75,000 30%
75,000 to less than 2,50,000 35%
2,50,000 and above 40%

*Premium is the annual premium excluding any modal factors, underwriting extra or any applicable taxes.

3. Simple Reversionary Bonus : Subject to the Policy being in force and all due premiums being paid, Simple Reversionary Bonus will accrue at the end of every Policy year starting from the first Policy year till maturity.
The Simple Reversionary Bonus will be payable on maturity or death, whichever is earlier.
The Simple Reversionary Bonus will be payable as percentage of Sum Assured plus the Guaranteed Additions accrued till the beginning of the applicable Policy year.
However the actual bonus rate declared by the Company is dependent on the performance of the par fund.
In case of a paid up Policy, the bonuses accrued till the date of the Policy becoming paid up shall be payable on death of the Life Insured or at maturity of the Policy.

4. Maturity Benefit : In case the Life Insured survives till Maturity Date and all due premiums have been paid, the Maturity Benefit will be payable to the Policyholder on the date of Maturity.
Maturity Benefit is:

  • The Sum Assured on Maturity; plus
  • Guaranteed Additions accrued till the date of Maturity; plus
  • Simple Reversionary Bonus accrued till the date of Maturity

Where, Sum Assured on Maturity is the Sum Assured chosen under the Policy plus the Guaranteed Maturity Addition.

5. Death Benefit: In case of death of the Life Insured during the policy term, provided the policy is in force and all due premiums have been paid till the date of death, the Death Benefit will be payable immediately on Death.
Death Benefit is higher of:

  • The Sum Assured on Death; plus Guaranteed Additions accrued till the date of death; plus Simple Reversionary Bonus accrued till the date of death
  • 105% of all premiums paid as on the date of death

Where the Sum Assured on Death is defined as highest of :

  • 11 times Annualized Premium*; or
  • Absolute amount assured to be paid on death equal to the Sum Assured under the policy; or
  • Sum Assured on Maturity equal to the Sum Assured under the Policy plus Guaranteed Maturity Addition

*Annualized Premium shall be the premium payable in a year chosen by the Policyholder, excluding the underwriting extra premiums/applicable taxes and loadings for modal premiums, if any.

6. Tax Benefits: You may avail of 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.

Please refer rider brochure for complete details on terms and conditions and exclusions before opting for the rider.

Premium rates

Premium Payment Term7 years8 years9 years10 years11 years12 years
Age\Policy Term14 years16 years18 years20 years22 years24 years
0--163.43143.40131.16120.64
1--163.46143.43131.19120.67
2-187.18163.49143.46131.22120.70
3-187.21163.52 143.49 131.25 120.73
4206.74187.24163.55143.52131.28120.77
5206.77187.27163.58143.55131.31120.82
6206.80187.30163.61143.58131.34120.87
7206.83187.33163.64143.61131.37120.93
8206.86187.36163.67 143.64131.40121.00
9206.88187.39163.70 143.67131.43121.07
10206.93187.42163.74143.73131.48121.15
11207.02187.51163.81143.80131.57121.24
12207.11187.60163.90143.89131.65121.33
13207.24187.69163.99143.97131.76121.43
14207.35187.79164.07144.06131.85121.53
15207.45187.87164.15144.14131.94121.62
16207.54187.95164.23144.24132.01121.71
17207.63188.04164.29144.30132.08121.79
18207.70188.10164.34144.35132.14121.86
19207.75188.15164.40144.39132.20121.92
20207.80188.19164.43144.43132.26121.97
21207.85188.23164.48144.48132.31122.02
22207.89188.27164.52144.53132.35122.08
23207.93188.30164.56144.57132.41122.13
24207.98188.35164.60144.61132.46122.19
25208.05188.41164.65144.68132.53122.27
26208.12188.49164.70144.74132.59122.36
27208.20188.55164.78144.82132.72122.45
28208.33188.64164.85144.91132.82122.59
29208.44188.74164.96145.03132.95122.74
30208.61188.89165.09145.17133.11122.92
31208.78189.05165.22145.34133.30123.14
32208.97189.23165.41145.52133.52123.38
33209.23189.45165.60145.74133.77123.66
34209.50189.70165.83145.98134.06123.98
35209.84189.99166.10146.27134.40124.35
36210.24190.33166.39146.61134.77124.78
37210.68190.72166.76146.97135.19125.25
38211.19191.14167.16147.40135.68125.79
39211.76191.65167.61147.85136.20126.37
40214.11192.20168.13148.38136.80127.03
41214.47192.85168.72148.95137.46127.77
42214.71193.57169.39149.61138.18128.58
43214.95194.39170.14150.31138.99129.47
44215.98195.29170.97151.09139.86130.46
45217.13196.28171.90151.96140.82131.54
46218.42197.40172.91152.87141.85132.72
47219.81198.61174.08153.88142.97133.97
48221.34199.95175.34154.96144.21135.32
49222.98201.38176.75156.09145.50136.77
50224.77202.95178.33157.30146.89138.29
51226.72204.65180.04158.57148.39139.94
52228.82206.50181.93159.91150.00141.67
53231.11208.51184.04161.34151.68143.52
54233.60210.71186.37162.85153.50145.49
55236.36213.15188.96164.72155.44147.59
56239.43215.86189.49167.05157.51149.83
57241.46218.91189.97169.82159.74-
58241.84219.22190.48173.00162.15-
59242.22219.52190.99176.80--
60242.61219.83191.50179.16--
61242.99220.13192.01---
62243.38220.44192.53---
63243.76220.75----
64244.15221.05----
65244.53-----
66244.91-----
  • * Rates are per thousand Sum Assured.
  • * There is a 3 year setback for female lives
Riders

RIDER

For added protection the following riders can be availed by paying additional premium along with Bharti AXA Life Assure Benefit 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.

The Premium pertaining to health related or critical illness riders shall not exceed 100% of premium under the Base Policy, the Premiums under all other life insurance Riders put together shall not exceed 30% of premiums under the Base Policy and any benefit arising under each of the above mentioned Riders shall not exceed the Sum Assured under the Base Policy.









WHAT OTHERS SAY

Trends

The insurance industry is getting digitally savvy giving policyholders the comfort of buying and managing their policy and that too at lower costs.

Expert Review

A regulatory clause makes it mandatory for life insurers to offer guaranteed returns to all its subscribers.