Bharti AXA Life
Grow Wealth

A Unit Linked, Non-Participating Individual Life Insurance Plan

(UIN: 130L088V03)(ADVT No. II-Sep-2020-2366)
A Unit Linked, Non-Participating Individual Life Insurance Plan

#FlexibleInvestment#LoyaltyAddition#TaxBenefits

Why Choose Bharti AXA Life Grow Wealth?

A savings-oriented unit linked insurance plan that offers you multiple fund options to suit your investment needs with a life insurance cover and high interest investments to protect your family in case of any unfortunate event. It also provides additional benefits in the form of loyalty additions to ensure your money works as hard as you.

  • Flexibility in Investment Tenure

    The plan not only offers you multiple options to choose Investment duration of your desire but also offers you the flexibility on how you want to pay your premiums – either as a single payment or for a limited duration or for the entire policy term basis your investment needs.

  • Single Life/Joint Life Option

    The plan allows you the option to choose between Single Life (life coverage for one individual) and Joint Life Coverage (life coverage for two individuals under the policy)

  • Loyalty Additions

    Grow your wealth further with Loyalty Additions Subject to Policy being in-force, a percentage of Fund Value is added at the end of every Policy year from 6th Policy Year to end of Policy Term, making it a great wealth insurance option.

  • Multiple Fund Options

    Multiple Fund Options to suit your investment needs and zero premium allocation charges. The plan lets you choose from 7 fund options basis the desired risk-return potential. Also, there is zero premium allocation charge.

  • 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.

Key Benefits

Life Cover

Maturity Benefit

Death Benefit

Multiple Fund Options

Flexible Premium Payment Terms

Tax Benefits

How Does the Product Work?

 

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

 

Case Study :

Ajay, 35 years old, is the Managing Director of a leading MNC company. He has accumulated savings and is looking for an investment solution where he can invest those savings and get stable returns. He is also considering buying Life Insurance product to safeguard his family, in event of an unfortunate death.

 

Scenario 1: Let us look at how Bharti AXA Life Grow Wealth helps Ajay to fulfil his investment goals

 

Premium Payment Term Single Pay
Single Premium Rs. 1,60,00,000
Policy Term 10 years
Sum Assured Rs. 2,00,00,000 (1.25 times the Single Premium)
Fund opted Grow Money Plus Fund to get higher returns from his investment
Fund Value on Maturity* @4% Rate of Investment Return
Rs.2,10,10,303
@8% Rate of Investment Return
Rs. 3,06,70,169

 

Fund Value illustrated in the table is not guaranteed. 4% and 8% rate of investment returns are used only for illustration purposes and are not guaranteed.

 

Scenario 2: Let us look at how Bharti AXA Life Grow Wealth helps Ajay to fulfil his investment goals as well as safeguard his family’s future.

 

Premium Payment Term Single Pay
Single Premium Rs. 20,00,000
Policy Term 10 years
Sum Assured Rs. 2,00,00,000 (10 times the Single Premium)
Fund opted Grow Money Plus Fund to get higher returns from his investment
Fund Value on Maturity* @4% Rate of Investment Return
Rs. 23,60,614
@8% Rate of Investment Return
Rs.35,16,325

 

Fund Value illustrated in the table is not guaranteed. 4% and 8% rate of investment returns are used only for illustration purposes and are not guaranteed.

 

Needs met :

 

  • At the end of 10 years, he will receive Fund Value on Maturity – which will also include additional Loyalty Additions accumulated over the duration of the Policy.
  • In event of Ajay's death in both the above scenarios, his family will receive the higher of Sum Assured of Rs. 2 crores or Policy Fund Value (including Loyalty Additions) at the time of death or 105% of all premiums paid.

The above Illustration is for Policy bought through offline channel.

What Do You Gain from the Plan?

Option to Choose Higher Coverage

You can now opt for higher coverage of 10 times the annualized premium even in the single pay variant of the product (for specific age groups). Thus, giving you the flexibility of choosing the desired protection.

Policy Administration Charges for a Limited Period

Policy administration charges are only charged for a period of 5 years for single pay and for 10 years for limited/regular pay variants of the product.

Maturity Benefit

Subject to the Policy being in-force, at the time of Maturity, you will get your Policy Fund Value (including Loyalty Additions). The Policy Fund Value will reflect the returns during the duration of the Policy and is dependent on market conditions, your choice of funds etc.

Loyalty Additions

Subject to Policy being in-force, an additional 0.70% of fund value gets added every year from 6th year onwards till one year before maturity and 1.40% of fund value gets added on maturity. The loyalty additions reward you for staying invested in the policy for a longer duration. The longer you stay invested, the greater benefits you get in form of Loyalty Additions.

Death Benefit

Single Life

 

In case of death of the Life Insured during the Policy Term, the Sum Assured on Death will be payable to the Nominee or the Policyholder as the case may be, subject to Policy being in force
The Death Benefit will be highest of :

  • Sum Assured less all Partial Withdrawals made in the two-year period immediately preceding the death of Life Insured.
  • 105% of all premiums paid as on date of death
  • Policy Fund Value (including any Loyalty Additions) as on the date of death of the Life Insured

 

B. In case of first death, the Fund Value shall be set to be higher of Sum assured equal to 125% of Single Premium or Policy Fund Value (including any Loyalty Additions) as on date of death.

 

C. In case of death of second life, provided the policy is in-force and all due premiums till the date of death have been paid, the Death Benefit will be payable immediately on death.
Death Benefit, which is the highest of :

  • Sum assured equal to 10 times Single premium less all partial withdrawals made during the two-year period immediately preceding the date of death of the Life Assured.
  • Policy Fund Value (including any Loyalty Additions) as on date of death.
  • 105% of all premiums paid as on date of death

 

Sum Assured will be as per table below :

 

For Single Premium Payment Policy
Option Policy Term Age at Entry (Age at Last Birthday) Sum Assured
Single Life Option 5 years 13 to 46 years Option 1: 125% * Single Premium
Option 2: 10 times Single Premium
47 to 64 years 125% * Single Premium
10 years 8 to 44 year Option 1: 125% * Single Premium
Option 2: 10 times Single Premium
45 to 60 years 125% * Single Premium
15 years 3 to 40 years Option 1: 125% * Single Premium
Option 2: 10 times Single Premium
41 to 55 years 125% * Single Premium
20 years 0 to 35 years Option 1: 125% * Single Premium
Option 2: 10 times Single Premium
36 to 50 years 125% * Single Premium
Joint Life Option 5,10, 15 years 18(at least one life) to 70 years Second Death: 10 * Single Premium
First Death: 1.25 * Single Premium
20 years 18(at least one life) to 64 years

 

For Regular Premium Payment Policy and Limited Premium Payment Policy
Sum Assured Higher of 
10 times Annualized Premium#
Or
(0.5* Policy Term* Annualized Premium) #

# Annualized premium is the premium selected by the policyholder at inception of the policy, excluding applicable taxes.

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 Plan Option

Choose one of the options, as per your financial goals.

Single Life Option

Life coverage for one individual

Joint Life Option

Life coverage for two individuals under the policy

Single Life Option

Life coverage for one individual

Joint Life Option

Life coverage for two individuals under the policy

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.