PLAN FOR LIFE’S EVERY MILESTONE WITH BHARTI AXA LIFE’S SECURE INCOME PLAN
Pay limited Premiums with this saving plan depending on the term you choose. At the end of your chosen term, you start receiving 8% p.a. of the Sum Assured as guaranteed Monthly income*. On Maturity you will receive the Sum Assured plus guaranteed additions as benefits.
Limited pay guaranteed income plan.
You start receiving guaranteed tax-free income after the completion of the Premium payment term, until Maturity, provided the policy is in force and all due Premiums have been paid.
Guaranteed additions of up to 10% (depending on plan term chosen) regularly added during the plan term.
A fixed guaranteed addition, declared as a percentage of the Sum Assured will get added to your policy each year after the completion of Premium payment term, until Maturity of the policy. These guaranteed additions get paid out either on death or at Maturity. 7% of Sum Assured for a Premium payment of 5 years, 8.5% of Sum Assured for a Premium payment of 7 years and 10% of Sum Assured for a Premium payment of 10 years.
Guaranteed benefit at Maturity.
You get Sum Assured plus Guaranteed Additions.
Enjoy Tax benefits on the Premiums paid and pay-out benefits received.
The Tax benefits fall under Section 80C and Section 10 (10D) respectively, of the Income Tax Act, 1961. They are subject to change as per change in tax laws from time to time.
Let’s take a look at this case study
30 year old Gaurav chooses our Bharti AXA Life Secure Income Plan with a policy term of 20 years as he wishes to receive a guaranteed monthly income along with a guaranteed amount at maturity. He pays an annual premium of ` 50,000 for 10 years for a Sum Assured of `3,11,061.
Starts paying an annual premium of `50,000
Finishes paying an annual premium
He starts to receive an annual income of
He continues to receive an annual income of
`24,885 till the 20th year
He receives a guaranteed maturity amount of
In case Gaurav’s demise, his family will receive a total death benefit of `6,50,000
WHO CAN BUY?
|Minimum age at entry||3 years for 15 years Policy Term
1 year for 17 years Policy Term
0 year for 20 years Policy Term
|Maximum age at entry||65 years for 15 years Policy Term
63 years for 17 years Policy Term
60 years for 20 years Policy Term
|Maximum Maturity Age||80 years|
Excluding service tax and cess
|For 15 years Policy Term
|Policy Term||15, 17 and 20 years|
|Premium Payment Term||5, 7 and 10 years for 15, 17 and 20 years Policy Term respectively|
|Premium Payment Modes||Annual, Semi annual, Quarterly* & Monthly*|
Guaranteed Monthly Income:
Start receiving Guaranteed Income after the completion of the Premium Payment Term, until Maturity, provided the policy is in force and all due premiums have been paid. This income will be tax-free#.
#Subject to the prevailing provisions of section 10(10D) of the Income-tax Act, 1961
|Policy Term||Premium Payment Term||Guaranteed Income*||Guaranteed Income Benefit Period*(in months)|
|15 Years||5 Years||8% of Sum Assured p.a.||10 years (120 months)|
|17 Years||7 Years|
|20 Years||10 Years|
* The Guaranteed Income commences after the end of Premium Payment Term and will be paid out on a monthly basis.
A fixed guaranteed addition, declared as a percentage of Sum Assured gets added to your policy each year after the completion of premium payment term, until maturity of the policy. Thus, Sum Assured plus Guaranteed Additions get paid out on Maturity.
|Policy Term||Premium Payment Term||Annual Guaranteed Addition (applicable after Premium payment term)|
|15 Years||5 Years||7% of Sum Assured|
|17 Years||7 Years||8.5% of Sum Assured|
|20 Years||10 Years||10% of Sum Assured|
In case of the unfortunate death of the Life Insured, a percentage of Monthly Income is payable to the nominee. This payout is made over and above the Monthly Income payouts made before the death of the Life Insured. The Death benefit depends upon the age and the policy term chosen.
|Policy Term||Death Benefit|
|15 Years||Higher of (Sum Assured plus Guaranteed Additions accrued till date of death) or (105% of Premiums paid) or (11 times Annual Base Premium)|
|17 Years||Higher of (Sum Assured plus Guaranteed Additions accrued till date of death) or (105% of Premiums paid) or (11 times Annual Base Premium)|
|20 Years||Higher of (Sum Assured plus Guaranteed Additions accrued till date of death) or (105% of Premiums paid) or (13 times Annual Base Premium)|
For premiums paid and benefits received, are as per the prevailing tax laws which are subject to changes with change in tax laws.
HERE ARE THE AGE WISE PREMIUM RATES
|Premium Payment Term|
You may enhance your protection under this Plan by opting for the following rider(s):
Bharti AXA Life Hospi Cash Rider (UIN:130B007V02): This rider allows payment of a fixed benefit for each day of hospitalisation. It also offers a fixed amount benefit if you are admitted in an Intensive Unit Care or a lump sum benefit in case of surgery.
Premium Waiver rider (UIN: 130B005V03): 100% of all future premiums under the base policy are waived and paid by the company on the death & total permanent disability or critical illness of Proposer, depending on the chosen option.
Bharti AXA Life Accidental Death Benefit Rider(UIN:130B008V01): This is a non-linked and regular pay rider that provides 100% Sum Assured in case of death of the Life Insured due to an accident subject to the rider policy being in-force.
Please refer to the 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.
Let us help you
The insurance industry is getting digitally savvy giving policyholders the comfort of buying and managing their policy and that too at lower costs.
A regulatory clause makes it mandatory for life insurers to offer guaranteed returns to all its subscribers.