Bharti AXA Life Group Superannuation Builder

Why Choose Bharti AXA Life Group Superannuation Builder ?

The Bharti AXA Life Group Superannuation Builder is designed to support your employees’ retirement needs through a flexible group pension savings plan. By ensuring their financial security, you help them focus on work with peace of mind.

Annual Renewable Plan
Secure and renew coverage for your employees each year.
Covers Both DB & DC Schemes
Works for both Defined Benefit (DB) and Defined Contribution (DC) schemes.
Flexible Contributions
Employers can contribute as per scheme rules and accounting standards.
Tax Benefits
Contributions and benefits may qualify for tax advantages under prevailing laws.

Key Benefits

Ensures employee financial security at retirement.

Strengthens employee loyalty and retention.

Flexibility to cover both DB & DC schemes.

Backed by Bharti AXA Life’s financial strength and reliability.

How does the Plan Works ?

1. Employer Sets Up the Scheme

The employer either creates a Trust with trustees or administers the scheme directly.
The employer or the Trust acts as the Master Policyholder.

2. Choose the Type of Scheme

This plan supports both:

Defined Benefit (DB) Scheme
- A single fund is maintained (Policy Account Value).
- Contributions are made as per accounting standards and scheme rules.
- Assured benefits apply to the entire fund and are also available in case of a member’s death.
Defined Contribution (DC) Scheme
- Each employee has an individual account (Member Account Value).
- Assured benefits are provided at retirement or on death.
- Contributions are made as per scheme rules.
  
  3. Policy Accounts

Contributions (net of charges) are credited to the Policy Account (DB) or Member Account (DC).
Interest is credited regularly based on declared rates.
Withdrawals, payouts, or other transactions are deducted from these accounts.

4. Interest Earnings
Your employees’ funds grow through:

Guaranteed Minimum Interest: 0.1% per annum for the entire policy term.
Regular Interest: Declared by the company from time to time, non-negative in nature.
Interim Interest: Applied when members exit during the year before the regular interest is declared.

5. Benefit Payouts
Depending on the scheme rules and availability of funds, benefits are payable in the event of:

Retirement (vesting)
Death
Resignation, transfer, or other exits

6. Fund Management

Contributions are invested in Bharti AXA Life’s non-linked, non-participating fund.
A separate account is maintained for all receipts and payments under this product.
Interest rates and expenses are managed as per the company’s Board-approved policy.

Insurance Jargon Explained

Participating Policy

An insurance plan which gives the policyholder a share in the profits of the insurance company’s participating fund in the form of bonuses. Apart from bonuses, such insurance plans shall provide some guaranteed benefits also. Participating policy is also referred to as “with profits policy”.

Endowment plan

An insurance policy which provides a lump sum amount on a fixed date, either maturity of the policy or upon the death of the life insured, whichever occurs earlier.

Income payout

The money paid to the policyholder as regular income at the end of the policy term.

Rider

A provision attached to a policy that adds benefits not available in the original policy or that changes the original policy.

Riders help the Policyholder in enhancing the insurance product to meet specific needs by adding protection benefits to the basic Insurance Plan at a lower additional cost. For example, Bharti AXA Life Hospi cash rider provides fixed per day cash benefit to the Policyholder for each day of hospitalisation, thus providing benefits of a health plan along with base Life Insurance plan.

View all Jargon

Disclaimers

Life Insurance coverage is available in this product.
Tax Benefits*: Enjoy tax benefits on premiums and payouts, subject to prevailing tax laws.
Bharti AXA Life Group Superannuation Builder is a non-linked, non-participating, group savings pension plan.
Tax benefits are subject to change as per prevailing laws.
Please refer to the policy document for complete terms and conditions.