Bharti AXA Life
Wealth Pro
(UIN: 130L100V02)(ADVT No. II-Dec-2022-4600)
A Unit Linked, Non-participating Individual Life Insurance Plan
Why Choose Bharti AXA Life Wealth Pro?
This plan offers you a comprehensive financial solution that gives you a life cover up to 10 times of your premium and helps build wealth over the long term to ensure that you and your family fulfil all your aspirations.
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Dual Variants
(i) Growth Variant :
The policy term options available are 10, 15, 20, 25 and 30 years with multiple Premium Payment term options.
(ii) Legacy Variant :
To provide a legacy fund to your loved ones, we offer you a Legacy variant that provides a life insurance coverage of 10 times the annualized premium throughout your policy term (99 years).
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Wealth Booster
A percentage of Fund Value is added as wealth booster subject to policy being in force. Wealth Boosters are available under both Growth and Legacy variants.
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Multiple Investment Strategies
The plan lets you choose from 2 investment strategies - Dynamic Fund Allocation and Systematic Transfer Plan and multiple fund options based on the investment goals and risk-return potential.
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Tax Benefits
You may avail the tax benefits on the premiums paid and the benefits received, subject to the prevailing tax laws. The tax benefits are subject to change as per change in tax laws from time to time.
Key Benefits
Dual Variants
Multiple Investment Options
Tax Benefits
Wealth Booster
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER
How Does the Plan Work?
Bharti AXA Life Wealth Pro is a unit linked, non-participating individual life insurance plan that helps you keep your family’s future well protected while you aim at achieving your milestones.
You Gain at Every Stage
Death Benefit
In case of death of the Life Insured during the Policy Term, the Death Benefit will be payable to the Nominee or the Policyholder as the case may be, subject to Policy being in force.
Death Benefit, which is the higher of:
- Sum assured 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:
| Variant | Premium Payment Term | Policy Term | Age last birthday | Sum Assured |
| Growth | Single Premium | 10 years | <= 50 years | Option 1: 125% * Single Premium Option 2: 10 * Single Premium |
| > 50 years | 125% * Single Premium | |||
| 15 years | <= 46 years | Option 1: 125% * Single Premium Option 2: 10 * Single Premium |
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| > 46 years | 125% * Single Premium | |||
| 20 years | <= 43 years | Option 1: 125% * Single Premium Option 2: 10 * Single Premium |
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| > 43 years | 125% * Single Premium | |||
| Growth and Legacy | Limited/Regular Premium | All | All | 10 times Annualized Premium |
# Annualized premium is the premium selected by the policyholder at inception of the policy, excluding applicable taxes.
In case the Policyholder chooses a Single Premium, the level of Sum Assured will also need to be chosen, as specified in Table above. If at any time after the lock-in period, the Fund Value falls below at least one annualized premium, the Policy shall stand terminated.
The Death Benefit shall become payable on death of the Life Assured. The Policy shall terminate upon payment of Death Benefit.
In case of the death of the Life Insured during the grace period allowed for payment of due premium, the Death Benefit shall be payable and the Policy will be terminated.
The risk coverage will start from the Date of Commencement of Risk for all lives, including minors.
In case of the death of the Life Assured while the policy is in a discontinuance status and the monies are a part of the ‘Discontinued Policy Fund’, the Policy Fund Value as on the date of death shall be payable and the policy will be terminated
In case of the death of the life insured during the Settlement Period, the Higher of Policy Fund Value or 105% of total premiums paid as on the date of death shall be payable to the nominee/legal heirs and the policy will terminate.
Maturity Benefit
On maturity, subject to the policy being in-force and depending upon the variant chosen, you shall be eligible for the Maturity Benefit as follows –
Growth Variant
Maturity Benefit payable shall be equal to the Policy Fund Value (including Return of Mortality Charges, Return of Premium Allocation Charges and Wealth Boosters) as on the date of maturity.
Return of Mortality Charges (RoMC) and Return of Premium Allocation Charge (RoPAC) :
Subject to Policy being in force (including revived policies), the total amount of Mortality charges (excluding any extra Mortality charge & or any other applicable tax/cess levied) and total Premium Allocation Charges (excluding any applicable tax/cess levied) deducted during the Policy Term will be credited to the policy at maturity. RoMC and RoPAC will be allocated to the policy by creating additional Units across Investment Funds, in the same proportion as the investment fund allocation than in effect. RoMC and RoPAC shall not be credited in case of Surrender, Discontinued or Paid-up Policy.
Settlement Option
On Maturity, you may choose to receive the Policy Fund Value as:
- A lumpsum payment
- At regular intervals chosen by the Policyholder, during the Settlement Period
- A combination of the above
Wealth Booster
Subject to the Policy being in-force, Wealth Booster will be credited to the Policy at the end of fifth policy year and at Maturity date. Wealth Booster will be allocated to the policy by creating additional Units across Investment Funds, in the same proportion as the investment fund allocation instruction. The Wealth Booster is as follows:
| Variant | Policy Year | % of Policy Fund Value as at end of Policy Year |
| Growth & Legacy | End of 5th Policy Year | 0.25% |
| At Maturity* | 1.25% |
- Under Growth variant, Wealth Booster, at maturity, shall be calculated as of 1.25% of Fund Value at maturity, before adding back RoMC ( Return of Mortality Charge) and RoPAC ( Return of Premium Allocation Charge) units. The Wealth Booster will be payable along with the Policy Fund Value at Maturity.
- Wealth Booster will not be credited to policies in Paid-Up status.
Investment Strategies
At inception of the Policy, You may also choose to allocate the premium/s in one of the Investment strategies as per the Term and conditions of the Product, with a maximum of two Investment strategies being available. You shall have the option to choose between two investment strategies -
(i) Dynamic Fund Allocation
(ii) Systematic Transfer Plan
| Investment Strategy | Description | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Dynamic Fund Allocation |
i) Limited Pay policies : In case of Limited Pay policies, the Company will automatically allocate the monies between Grow Money Plus Fund and Steady Money Fund, from the end of 5th year before Policy Maturity, in a pre-determined manner as described below through switching Units in the respective Fund
ii) For Regular Pay Policies: The Company will automatically allocate/ switch Units in the Funds on each Policy Anniversary with respect to Regular Premium received on Policy Anniversary or date of receipt of the Regular Premium and switch Units in the Funds on each Policy Anniversary, in a predetermined proportion specified in the applicable table below:
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| Systematic Transfer Plan (STP) |
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Make your plan with ease
Pick a plan option
Choose one of the options, as per your needs.
Growth Variant
In this variant the policy term options available are 10, 15 ,20, 25 and 30 years with multiple Premium Payment term options.
Legacy Variant
This variant provides a life insurance coverage of 10 times the annualized premium throughout your policy term (99 years).
Growth Variant
In this variant the policy term options available are 10, 15 ,20, 25 and 30 years with multiple Premium Payment term options.
Legacy Variant
This variant provides a life insurance coverage of 10 times the annualized premium throughout your policy term (99 years).
Now, add a rider
For added protection the following riders can be availed by paying additional premium along with Bharti AXA Life Wealth Pro:
Bharti AXA Life Hospi Cash Rider (UIN: 130B007V04):
This rider allows payment of a fixed benefit for each day of hospitalization subject to maximum of 40 days per year and also provides lump sum benefit in case of surgery.
Bharti AXA Life Term Rider (UIN: 130B009V02):
Under this rider, the policyholder can increase the life insurance coverage for a nominal premium.
Bharti AXA Life Premium Waiver Rider (UIN: 130B005V04):
Under this rider, in case the Life Insured is diagnosed from any of the 13 critical illnesses covered under the rider, the future premiums are waived off and the benefits under the policy will continue.
Please refer rider brochure for complete details on terms and conditions and exclusions before opting for the rider.
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.
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.
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).
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Disclaimer :
Unit Linked Life Insurance products are different from the traditional products and are subject to market risks.
The premium paid in Unit Linked Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.
Bharti AXA Life Insurance Co. Ltd. is only the name of the insurance company and Bharti AXA Life Wealth Pro (UIN:130L100V02) is only the name of the unit linked, non-participating individual life insurance plan and does not in any way indicate the quality of the contract, its future prospects or returns.
Bharti AXA Life Insurance Co. Ltd. is only the name of the insurance company and [Name of the Product (with UIN)] is only the name of the unit linked insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.
Please know the associated risk and applicable charges from your Insurance Advisor or the intermediary or the policy document issued by the insurance company.
The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects or returns.
Past performance of the Fund Options is not indicative of future performance. All benefits payable under this policy are subject to tax laws and other fiscal enactments in-effect from time to time, please consult your tax advisor for details.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
∼For 35 year old male, invested 100% in growth opportunities plus fund, on online purchase of the policy with PT=25 and PPT=10. The Unit Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender or withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of the fifth year. 8% or 4% are used only for illustrative purpose.