Bharti AXA Life
Future Invest Plan

A Unit-Linked, Non-Participating Individual Life Insurance Plan

(UIN: 130L049V04)(ADVT No. II-Jul-2022-4076)
A Unit-Linked, Non-Participating Individual Life Insurance Plan

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER.

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?

 

Let’s take a look at following case studies for understanding the plan.

 

5 Years

 

Case 1 :

35 year old Anurag chooses our Bharti AXA Life Future Invest and would like to invest in the Grow Money Fund. He chooses a policy term of 10 years with a premium payment term of 5 years for a Sum Assured of ₹ 5,00,000.

 

1st Policy Year

He starts paying ₹ 50,000 annually

 

5th Policy Year

He finishes paying the annual premiums

 

10th Policy Year

At an assumed 4% rate of return, he receives ₹ 2,55,640 on maturity

 

At an assumed 8% rate of return, he receives ₹ 3,53,827 on maturity

 

# 4% and 8% rates are used only for illustration purposes and are not guaranteed. The values represented with 4% & 8% are not the upper or lower limits of what one can expect from this policy, as it is dependent on number of factors including investment performance.

 

Sad Demise

In case of death, his family receives a death benefit of ₹ 5,00,000

 

Single Pay

Case 2 :

35 year old Rishabh chooses our Bharti AXA Life Future Invest and would like to invest in the Grow Money Fund. He chooses a policy term of 10 years with a single premium payment for a Sum Assured of ₹ 3,75,000.

 

1st Policy Year

He pays ₹ 3,00,000 as single premium

 

10th Policy Year

At an assumed 4% rate of return, he receives ₹ 3,35,417 on maturity

 

At an assumed 8% rate of return, he receives ₹ 4,95,909 on maturity

 

Sad Demise

In case of death, his family receives a death benefit of ₹ 3,75,000

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
Sum Assured
Higher of
10 times Annualized Premium
Or
(0.5* Policy Term* annualized premium)

 

In case of the death of the Life Insured during the grace period allowed for payment of due premium, the Death Benefit less the outstanding charges shall be payable.

Maturity Benefit

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.

Tax Benefits

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.

5 Years

Sum Assured: Higher of 10 times Annualized Premium Or (0.5* Policy Term* annualized premium)

Single Pay

Sum Assured: 125% of Single Premium

5 Years

Sum Assured: Higher of 10 times Annualized Premium Or (0.5* Policy Term* annualized premium)

Single Pay

Sum Assured: 125% of Single Premium

Insurance Jargon Explained

Maturity Benefit

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.

Loyalty Additions

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.

Premium

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

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.