A COMPREHENSIVE PLAN THAT MAKES YOUR AND YOUR FAMILY’S LIFE SECURE
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.
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.
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%||Rs. 57,500|
|13th Year||125%||Rs. 62,500|
|14th Year||135%||Rs. 67,500|
|15th Year||145%||Rs. 72,500|
|16th Year||155%||Rs. 77,500|
|17th Year||165%||Rs. 82,500|
|18th Year||175%||Rs. 87,500|
|19th Year||185%||Rs. 92,500|
|20th Year||195%||Rs. 97,500|
|21st Year||205%||Rs. 102,500|
|22nd Year||215%||Rs. 107,500|
|Maturity Benefit||23rd Year||225%||Rs. 112,500|
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
|Policy Term & Premium Payment Term||
Minimum age at entry
|Maximum age at entry||55 years for all Policy Terms|
Maximum Age at Maturity
|Minimum Sum Assured (Rs.)||Rs 25,000|
|Maximum Sum Assured (Rs.)||No Limit, subject to underwriting|
Minimum Premium (Rs.)
|Premium Payment Modes||Annual, semi- annual, quarterly* & monthly*|
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|
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:
Death Benefit is payable in addition to any Survival Payout already paid.
HERE ARE THE AGE WISE PREMIUM RATES
|Males - Policy Term - Band 1|
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: 130B007V02
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: 130B008V01
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: 130B005V03
Bharti AXA Life Term Rider: Under this rider the policyholder can increase the Life Insurance coverage for a nominal premium. UIN: 130B009V01
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.
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