Why Choose Bharti AXA Life Future Invest Plan?
An Investment Plan where you invest money for a limited time-frame and reap good returns at the end of the policy term. You can enjoy benefits for 10 years while paying Single Premium or paying for 5 years only.
- Limited Premium Payment Plan
A limited premium payment plan with a longer term to remain invested. Pay single premium or for first 5 years and accrue benefits for 10 years.
- Zero Allocation Charges (other charges as applicable)
Since there is no premium allocation charge, 100% of premiums paid will be allocated to the funds chosen by you. other charges levied as applicable.
- Flexibility Of Partial Withdrawals
Pay once or for 5 years while accruing benefits for 10 along with the flexibility of partial withdrawals. You can stay invested in the funds for an extended period of 5 years after Maturity, as you can choose from two premium payment terms - single pay and 5 years. You can also withdraw money from your Policy Fund Value any time after the completion of five Policy years.
- Tax Benefits
You can enjoy tax benefits on the premiums paid and pay-out benefits received. The tax benefits fall under Income Tax Act, 1961. They are subject to change as per changes in tax laws from time to time.
How Does the Product Work?
What Do You Gain from the Plan?
Life Insurance Benefit
Subject to the Policy being in force, the Life Insurance benefit payable under the product will be Higher of :
- Sum assured (net of partial withdrawals, made 12 months prior to death of the life insured)
- 105% of all premiums paid till the date of intimation of death (excluding underwriting extra)
- Policy Fund Value at that point in time
The Sum Assured will be calculated as per the table below :
|Premium Payment Term: Single Pay|
|Sum Assured||125% of Single Premium|
|Premium Payment Term: 5 Years|
10 times Annualized Premium
(0.5* Policy Term* annualized premium)
Subject to the Policy being in force, the Policy Fund Value shall be payable to Policyholder on the Maturity Date. For the payment of Maturity Benefit, the Policy Fund Value is calculated with the respective Unit Prices of the relevant Investment Funds to which the premium/s have been allocated as on their Valuation Dates, coinciding with the Maturity Date of the Policy.
Policyholder shall be entitled to choose any one of the following options for claiming the Maturity Benefit :
- Lump sum payment of the Policy Fund Value; or
- Withdrawal of Maturity Benefit at regular intervals chosen by Policyholder during the Settlement Period.
- A combination of the above mentioned two options.
Policyholder is required to apply to the Company, in the specified form, intimating of the choice of the Maturity Benefit option, at least 90 days prior to the Maturity Date. The default option in case of non-receipt of such an application would be Option 1 as mentioned above.
In case of option 2 or 3, the inherent risk of fluctuating markets during the Settlement Period, in respect of Policy Fund Value, shall be borne by Policyholder and applicable Fund Management Charge and mortality charge will be levied.
Liquid Benefit with Partial Withdrawal
We understand that you may have an urgent requirement for money from time to time. The partial withdrawal facility gives you the flexibility to withdraw money from your Policy Fund Value anytime after the completion of Lock-in Period of five policy years, subject to the Policy being in force. Each partial withdrawal should be a minimum of ` 1,000 and after withdrawal the Policy Fund Value should not be less than 120% of annualized premium. In a Policy Year You can request for maximum of 2 partial withdrawals that are free of charge, subject to the limit of minimum Partial Withdrawal and the minimum Policy Fund Value. Withdrawals more than 2 times in a Policy Year are not allowed.
You may be eligible for the tax benefits on the premiums paid along with the benefits received, subject to the prevailing provisions. The tax benefits are subject to change as per the change in tax laws from time to time.
Make Your Plan with Ease
Pick a Premium Payment Term
Choose one of the options, as per your financial goals.
Sum Assured: Higher of 10 times Annualized Premium Or (0.5* Policy Term* annualized premium)
Sum Assured: 125% of Single Premium
Insurance Jargon Explained
It is the amount which the insurance company pays to the policy holder on the completion of the Policy Term, if the Life Insured has survived the entire duration of the Policy. This amount includes the guaranteed sum of money called as Sum Assured on Maturity and also the Accrued Bonuses, if applicable.
The loyalty addition is given upon the maturity of the policy, and not before. It is a small percentage of the sum assured. Broadly speaking, loyalty addition is the difference between the performance of the insurance company and the guaranteed additions.
The payment, or one of the regular periodic payments, that a policyholder makes to an insurer in exchange for the insurer's obligation to pay benefits upon the occurrence of the contractually-specified contingency (e.g., death).
Sum assured is the amount that an insurer agrees to pay on the occurrence of a stated contingency (eg: Death).
**Tax benefits are in accordance to current tax laws that are subject to change from time to time.