Why Choose Bharti AXA Life Saral Pension?
It is an immediate annuity plan to ensure that you live life at your own terms – even after your retirement. With its simple and easy-to-understand features and standardized options, this pension plan is the perfect immediate annuity plan for you.
- Guaranteed Fixed Income for Whole Life
Pay once (purchase price^) and get guaranteed fixed income (annuity) for your entire life.
- Joint Life Option
Extend the same benefit of guaranteed fixed income to your spouse. In case your spouse outlives you, he/she will receive the same annuity income for as long as he/she lives.
- Multiple Annuity Pay-Out Frequencies
Option to receive annuity income monthly, quarterly, half yearly or yearly to suit your need.
- Return of Purchase Price^
In case of death of the annuitant (or the last surviving annuitant in case of Joint life), 100% of the purchase price (excluding taxes) will be returned to the nominees or the legal heir of the annuitant.
- Single Premium Payment
Pay premium only once to purchase the annuity, post which you start receiving the benefits.
Joint Life Option
Single Premium Payment
Multiple Annuity Pay-out
How Does the Product Work?
Insurance Jargon Explained
A scheme under which a certain amount is paid at regular yearly/ half yearly/ quarterly/ monthly intervals.
These plans provide for a "pension" amount (or a mix of a lump sum amount and a pension) to be paid to the insured or his spouse. In the event of death of both of them during the policy period, a lump sum amount is paid to the next of kin.
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).
^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.