Bharti AXA Life
Ajeevan Sampatti+
(UIN: 130N058V03)(ADVT No. II-Jul-2022-4071)
A Non-Linked Participating Individual Life Insurance Savings Product
#WholeLifeCover#MaturityBenefit#TaxBenefits
Why Do You Need Bharti AXA Life Ajeevan Sampatti+?
It is a non-linked participating individual life insurance savings product that ensures a worry-free life with guaranteed payouts and adequate protection.
- Whole Life Cover Plan
The product offers the choice of 3 premium payment terms of 7 years, 10 years and 15 years with life cover up to age 85 and 100 years as policy term.
- Guaranteed Annual Payouts
Receive Guaranteed Annual Payouts equal to 5.5% or 6% of the Sum Assured (depending upon the policy term chosen) from 10th Policy year onwards, until maturity or death whichever is earlier, provided the policy is in force.
- Maturity Benefit along with Cash Bonuses
The product also offers non-guaranteed cash bonuses and is paid out every year starting from the 6th Policy year until maturity or death whichever is earlier. At the time of Maturity, receive 100% of the Sum Assured as Maturity Benefit provided the policy is in force.
- 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
Limited Pay Period
Guaranteed Annual Payouts
Cash Bonuses
Life Insurance Benefit
Maturity Benefit
Tax Benefits**
How Does the Product Work?
You gain at every stage
Maturity Benefit
Sum Assured on Maturity is paid if the Life Insured survives till the maturity of the Policy and the policy is in force.
Guaranteed Annual Payouts
This plan assures guaranteed annual payouts until Maturity (except in the policy year coinciding with maturity). Once you complete the 10th Policy year, you will start receiving an annual payout until maturity or death of Life Insured, whichever is earlier, subject to policy being in force. The Guaranteed Annual Payout percentage depends on the Policy term option chosen and is mentioned below.
|
Policy Term |
Guaranteed Annual Payout Percentage |
|---|---|
|
To age 100 |
5.5% of Sum Assured on Maturity |
|
To age 85 |
6% of Sum Assured on Maturity |
Cash Bonuses
This Policy also offers non-guaranteed cash bonuses subject to the policy being in force. The Policy participates in the performance of the participating insurance fund and surplus is distributed as bonus. This Non-guaranteed benefit (as percentage of Sum Assured on Maturity) is paid out as a cash bonus every year starting from the 6th Policy year, until maturity or death, whichever is earlier. No bonuses shall be payable in the first 5 policy years.
Death Benefit
Your coverage under the Policy will continue until you reach the age of 100 or 85 years as per the Policy term selected. In case of unfortunate event of loss of life of Life insured (applicable even in case of minor lives), subject to the policy being in force the Sum Assured payable on death will be higher of:
- Sum Assured on Maturity OR
- 11 times Annualised Premium
Tax Benefits
You may be eligible for tax benefits on the premiums paid as well as the benefits received as per the prevailing tax laws. The tax benefits are subject to change as per change in tax laws from time to time.
Make Your Plan with Ease
Pick Premium Payment Term
Choose one of the options, as per your financial goals.
7 years
10 years
15 years
7 years
10 years
15 years
Now, Add a Rider
You may enhance your protection under this Plan by opting for the following rider(s)
Bharti AXA Life Hospi Cash Rider (UIN:130B007V04):
This rider allows payment of a fixed benefit for each day of hospitalisation. It also offers a fixed amount benefit if you are admitted in an Intensive Unit Care or a lump sum benefit in case of surgery.
Premium Waiver Rider (UIN: 130B005V04):
100% of all future premiums under the base policy are waived and paid by the company on the death & total permanent disability or critical illness of Proposer, depending on the chosen option.
Bharti AXA Life Accidental Death Benefit Rider (UIN:130B008V02):
This is a non-linked and regular pay rider that provides 100% Sum Assured in case of death of the Life Insured due to an accident subject to the rider policy being in-force.
Please refer to the rider brochure for complete details on terms and conditions and exclusions before opting for the rider. Riders are optional and are available at an extra cost.
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.
Insurability
Insurability refers to all conditions pertaining to individuals seeking insurance; that affect their health, susceptibility to injury and life expectancy; an individual's risk profile.
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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**Tax benefits are in accordance to the current tax laws that are subjected to change from time to time.