Bharti AXA Life Saral Pension

(ADVT NO:II-Jun-2021-2887)

A Single Premium Non-Linked Non-Participating Individual Immediate Annuity Plan


Enjoy retirement on your own terms!

4 Reasons To Buy

  • Pay once and get guaranteed fixed income for your entire life
  • Extend the same benefit of guaranteed fixed income to your spouse
  • Option to receive annuity income monthly, quarterly, half yearly or yearly
  • In case of death 100% of the purchase price^ (excluding taxes) to be returned to the nominees

^ Purchase price is defined as the amount paid by the policyholder to secure the benefits under the policy. The term Purchase Price and the Premium are used interchangeably in this document.  Purchase Price does not include any taxes which are payable separately.

Plan Details

Type of Annuity Options:

  1. Option 1 - Life Annuity with Return of 100% of Purchase price (ROP) – Under this option, Annuity is paid for life of the annuitant. In addition, 100% Purchase Price^ will be returned to the nominee / legal heirs on death of the annuitant. 
  2. Option 2 - Joint Life Last Survivor Annuity with Return of 100% of Purchase Price (ROP) on death of the last survivor – In this case, the annuity is first paid to the primary annuitant for life. After death of the primary annuitant, if the spouse is surviving, the spouse continues to receive same amount of annuity for life till his/her death. Subsequently, on death of the spouse, Purchase Price^ shall be payable to nominee / legal heirs.  However, if the spouse has pre-deceased the annuitant, then on the death of the annuitant, the Purchase price^ shall be payable to the nominee / legal heir. Joint life policy is permitted only where a spousal relationship exists.

Annuity option once chosen cannot be altered.


Get your annuity in 4 simple steps

  1. Choose your annuity amount that you wish you receive at regular intervals or choose the purchase price you are willing to pay for the annuity
  2. Select your annuity Option (Single Life or Joint Life Annuity)
  3. Choose the frequency at which you would like to receive your annuity income – Monthly, quarterly, half-yearly or yearly based on your needs
  4. Provide your details (and your partner’s details in case of joint life option) and pay the purchase price to complete your annuity purchase.


How does the Plan work?

Let’s take a look at this case study


Mohit is a 58 year old salaried employee nearing his retirement. He wants to ensure that he and his wife, Swati, are not a financial burden on their children. For his financial independence, Mohit wants to ensure he gets regular monthly income for the rest of his life, even after retirement. He also wants to secure his wife in case he was to die before her. Mohit opts for Bharti AXA Life Saral Pension.


Mohit purchases Bharti AXA Life Saral Pension under the Option 2 - Joint Life Last Survivor Annuity with Return of 100% of Purchase Price (ROP) on death of the last survivor. He opts for a monthly annuity pay-out of Rs. 6,380.78 for which he has to pay a one-time purchase price of Rs. 15,00,000.

One month after payment of his Purchase price, he would start receiving monthly annuity of Rs. 6,380.78 till as long as he lives. After his death, his wife would continue receiving monthly annuity of Rs. 6,380.78 for as long as she lives. On her death, her nominees or legal heirs would receive 100% of the purchase price^, i.e. Rs. 15,00,000 and the annuity would be terminated.


The above example is for offline illustration purpose only and prices stated are exclusive of tax.

Plan at a Glance

Parameter Eligibility Criteria
Min Age at Entry 40 years
Maximum Age at Entry 80 years
Minimum Annuity Amount
Monthly Rs. 1,000
Quarterly Rs. 3,000
Half-Yearly Rs. 6,000
Yearly Rs. 12,000
Maximum Annuity Amount No Limit
Minimum & Maximum Purchase Price

As per Annuity Amount, Annuitant Age and mode of Annuity payment chosen.

Minimum Purchase Price:

Annuity Option 1:  Rs. 2,33,554

Annuity Option 2:  Rs. 2,45,902

Policy Term This is a whole life product
Premium Payment Term Only one mode of premium payment permitted under the policy - Single Premium, which is also the Purchase Price
Modes of Annuity Payment Monthly, Quarterly, Half-Yearly, Yearly
This Product is also available for sale through Online mode.