Bharti AXA Life POS Saral Bachat Yojana(UIN:130N090V01)
(ADVT No. II-Apr-2018-1616)

A quick and easy to buy plan that helps you save for future needs and also provide financial backup to secure your family’s future in case of an unfortunate death

4 REASONS TO BUY

  • Flexibility in Policy Term/Premium Payment Terms: Flexibility to choose from 5 combinations of policy terms and premium payment terms.

  • Comprehensive Protection Plan: Life Insurance cover in case of death and 2X Life Insurance cover in case of death due to accident.

  • Savings through Maturity Benefit: At the end of your policy term, you will get Sum Assured on Maturity provided all due premiums have been paid and policy is in-force.

  • 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.

Plan details

How does the Product work?

Let’s take a look at this case study

Ajay, 35 years old is looking for a simple plan with good returns that helps him get guaranteed protection as well as lumpsum payout that can be utilized for future expenses and also to shield his family in the event of his death.

Ajay decides to purchase Bharti AXA Life POS Saral Bachat Yojana for a policy term of 10 years for which the premium payment term is 5 years.

He decides to pay a premium of Rs. 1,500 per month (exclusive of taxes) for 5 years.

Let us look at the benefits that Ajay would receive

Benefits Payable End of Policy Year Maturity Benefit = Sum Assured on Maturity
Maturity Benefit 10th Year Rs. 127,617

In case of Ajay’s death during the policy term, his family would receive benefits as given below:

Benefits Payable Death Benefit
Death Benefit* (other than death due to Accident) Rs. 190,311
Death Benefit^ (death due to Accident) Rs. 380,622
  • * There is a waiting period of 90 days. During this period, 100% of premiums paid till the date of death (excluding any taxes) will be payable as Death Benefit.
  • ^ No waiting period is applicable in case of death due to Accident.

Needs Met:

  • By making a small monthly payout, Ajay has been able to accumulate his savings which he will get through the Maturity Benefit.
  • Comprehensive Protection in event of death with additional cover in case of death due to accident.
Who can buy?
Parameter Eligibility Criteria
Minimum age at entry
Policy Term Age at Entry
10 years 8 years
15 years 3 years

The insurance cover will start immediately on policy commencement for all lives including minors.
Maximum age at entry 55 years for 10 year Policy Term
50 years for 15 year Policy Term
Maximum age at Maturity 65 years, age last birthday for all Policy Terms
Policy Term & Premium Payment Term
Policy Term Premium Payment Term
10 years 5 years
15 years 6, 8, 10 & 12 years
Minimum Sum Assured (Rs.)
Premium Payment Term Policy Term Minimum Sum Assured
5 years 10 years 15,602
6 years 15 years 24,018
8 years 15 years 30,649
10 years 15 years 35,868
12 years 15 years 41,295
The minimum Sum Assured is as per maximum age at entry
Maximum Sum Assured (Rs.)
Premium Payment Term Policy Term Maximum Sum Assured
5 years 10 years 6,75,753
6 years 15 years 10,00,000
8 years 15 years 10,00,000
10 years 15 years 10,00,000
12 years 15 years 10,00,000
Minimum Premium (Rs.) The minimum premium is Rs 2,500 per annum for all ages and Premium Payment Term / Policy Term combinations. The applicable taxes will be collected separately along with the premium collection.
Maximum Premium (Rs.)
Premium Payment Term Policy Term Maximum Premium
5 years 10 years 90,909
6 years 15 years 90,909
8 years 15 years 77,970
10 years 15 years 66,860
12 years 15 years 57,990
The Maximum premium will be as per the Maximum Sum Assured and Maximum age at entry for the respective policy terms. The applicable taxes will be collected separately along with the premium collection.
Premium Payment Modes Annual, semi- annual, quarterly* & monthly*
  • *Through auto pay only

View Details

View Details

1. Maturity Benefit: In case the Life Insured survives till maturity and all due premiums have been paid till the date of maturity, Maturity Benefit will be payable to the Policyholder as Sum Assured on Maturity equal to the chosen Sum Assured.

2. Death Benefit:

  • a. Death Benefit (other than death due to Accident) – During Waiting period of 90 days : In case of the death (other than due to Accident) of the Life Insured during the Waiting Period of 90 days, the Death Benefit payable will be 100% of premiums paid till the date of death, exclusive of applicable taxes.

  • b. Death Benefit (other than death due to Accident) – After Waiting period of 90 days: In case of unfortunate event of death (other than due to Accident) of the Life Insured during the policy term after the expiry of Waiting period of 90 days, the Sum Assured on Death will be payable to the nominee 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 under the policy
    • 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 loadings for modal premiums, if any, and applicable taxes.

    • The maximum Sum Assured on Death, irrespective of number of Policies, is capped to Rs. 10 Lakhs per life

  • c. Death Benefit (death due to Accident) – No waiting period is applicable: This is an in-built cover under this Plan where In case of Accidental death of the Life Insured during the Policy term, total Death Benefit payable will be equal to two times of the Sum Assured on Death (as defined above) provided such death was caused directly by such Accident and independently of any physical or mental illness within one hundred twenty (120) days of the date of Accident. It is also clarified that if the Accident occurs during the Policy Term and the death due to the said Accident happens after the expiry of the Policy Term (but within 120 days from the date of Accident), Death benefit will be payable. No benefits are payable, if the death is due to the scenarios mentioned under Terms and Conditions - “Exclusions in case of death due to Accident” – refer Sales Literature.

    Accident here means a sudden, unforeseen and involuntary event caused by external, visible and violent means.

    The maximum Death Benefit (due to Accident), irrespective of number of Policies, is capped to Rs. 20 Lakhs per life

3. 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.

Premium rates

For Male & Female Lives – Premium: Rs. 2,500 - 15,000
Premium Payment Term 5 years 6 years 8 years 10 years 12 years
Age\Policy Term 10 years 15 years
10 145.35 95.33 78.85 65.14 56.62
20 145.92 95.88 79.30 65.83 56.89
30 145.92 95.88 79.30 65.83 56.89
40 147.62 97.45 80.65 66.86 58.27
50 153.49 104.09 81.57 69.70 60.54
  • * Rates are per thousand Sum Assured.
  • * High Sum Assured discount is available.

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