What is saving plan?
Saving Plan is typically a life insurance product that allows you to save and create a corpus to meet your future needs. These are intended to assist policyholders in developing a regular savings habit while also providing considerable returns when needed. Savings plans also provide insurance coverage, ensuring that your family's financial needs are satisfied even if you are not there to provide them. Most saving plans in India provide a specified amount of maturity benefit when the policy ends. Some savings policy additionally provides a steady income throughout the policy duration or as a portion of the maturity proceeds.
Key Features of Savings Plan
Benefits of Having Saving Plan
Why Do You Need Saving Plans?
Who Should Buy A Savings Insurance Plan?
Reasons to Buy Money Savings Plan
Why You Should Choose Bharti Axa For Saving Plan In India?
Simple Steps to Buy Saving Plans Online
How to Choose the Savings Plans
What Our Customers Say
Spending more than 12 years in the organization, I can categorically say that it’s been most rewarding experience and best learning years of my car...
Jun 28, 2021
Website journey was very simple and user friendly, Adviser has advised very nicely in simple manner. Advise to purchase a dual benefit plan(Shinnin...
Mumbai | May 11, 2021
Types of Saving Plan We Offer
Bharti AXA Life Guaranteed Income Pro
- A Non-Linked, Non-Participating Individual Life Insurance Savings Plan
- 4 Income options to choose
- Guaranteed 10% Addition of Annualised Premium (as per the terms and conditions of the policy)
- Get all your premiums back at the end of the payout period under Long Term Income and Deferred Income variants
- Flexibility to choose premium payment term or policy term
Bharti AXA Life Shining Stars
- Non-linked, non-participating limited pay endowment Life Insurance plan
- Designed to take care of the financial needs of your child.
- Flexibility to opt between 2 Maturity Payout Options
- Flexibility in Policy Term/Premium Payment Terms
- A great short-term investment option for a child insurance policy.
Bharti AXA Life Elite Advantage
- Guaranteed benefits at regular intervals (as per the terms and conditions of the policy)
- Guaranteed lump sum benefit at Maturity (as per the terms and conditions of the policy)
- Different Premium Payment Terms to choose from
- Tax benefits on the Premiums paid and payout benefits received
- 100% of Sum Assured on Maturity
Savings Plan – Verified Most Frequently Searched FAQ
When is the right Time to Begin a Saving Plan?
When you think of investing in financial products, the sooner you get started, the better. The power of compounding assures that even if you invest small amounts over a longer period, your returns will significantly exceed your expectations. In addition, if you start investing early, you will give your money plenty of opportunities to compound interest.
How can a Saving Plan Help me?
Most people save to invest and expand their money, whereas others save for a rainy day. The risk of fluctuating fund values is always there with market-linked funds. A saving plan is the ideal combination of life insurance and investing. Furthermore, because traditional life insurance plans are not connected to the market, you can save important goals without worrying about market volatility.
Some saving plans also allow you to take out a loan against your policy and make partial withdrawals. These saving plans provide regular payouts that act as a cash infusion just when you need it. For example, you may invest and let your money grow with Bharti AXA Life's Life Insurance saving plan while still having the peace of mind that comes with full life coverage.
What is the right Way to Begin with a Long-Term Saving Plan?
When it comes to returns, long-term investments always outperform short-term investments. This type of investment is beneficial if you are budgeting for your child's future financial needs, such as schooling, marriage, and a better lifestyle. You must choose one wisely as there are different long investment options available, based on your financial goals.
Curious to learn more?
5 Important Tips for Better Financial Planning
2:46 Min Read Time | Dec 2, 2020
Income Tax Deduction Under Section 80C
2:41 Min Read Time | Dec 12, 2020
Add on Benefits that are a Must While Buying a Long Term Insurance Plan
2:55 Min Read Time | Jan 3, 2021
Factors Impacting Savings Plan Premium
Age is the key criterion in determining the premium you pay. However, some saving plans are age agnostic. An individual is less prone to an age-related ailment and untimely demise at a young age; therefore, the premiums are lower.
When you start saving at an early age, you can enrol in a solid saving plan at a discounted premium rate. As you get older, the insurer raises your premiums since the chances of filing a claim due to death rise.
Duration of the policy and the amount guaranteed
Previous medical history
Add-on riders like severe sickness or accidental death coverage may incur an additional premium when choosing additional benefits.
Drinking and Smoking Habits
For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale
Note: Riders are optional and available at an additional cost
Note: Tax benefits are as per the Income Tax Act, 1961, and are subject to any amendments made thereto from time to time
BEWARE OF SPURIOUS PHONE CALLS AND FICTIOUS / FRADULENT OFFERS
• IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.