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?

 

Rahul is 30 years old. His wife is a homemaker and his 6-year-old son is studying in the 1st standard.

 

He has a few concerns about his financial preparedness:

  • He may exhaust all his savings on his mortgage repayment and the education of his son.
  • His retirement savings like PF, PPF may be compromised because of daily expenses.
  • He would like a product that provides him with a regular payout throughout his life.
  • He also wants to secure his family by ensuring they get a lump sum amount in case of an unfortunate event.

 

Proposed solution:

Rahul purchases Bharti AXA Life Ajeevan Sampatti+ with a Premium Payment Term of 10 years and coverage until the age of 100 years. He chooses a Sum Assured on Maturity amount of 5,00,000. Assuming that Rahul is in good health, his premium as per his age is 1,07,310 p.a. (exclusive of taxes)

 

Life Insured

Rahul, Age 30 Years

Life cover until maturity

₹ 11,80,410

Annualised Premium (exclusive of tax)

₹ 1,07,310

Premium Payment Term

10 years

Age at which Guaranteed Annual Payout Benefit will commence

36 years

Non-guaranteed payout each year @ 8% rate of return*

₹ 35,000

Non-guaranteed payout each year @ 4% rate of return*

₹ 2,750

Maturity amount at age 100 years

₹ 5,00,000

Cumulative guaranteed payouts including maturity benefit, paid if Rahul survives until the age of 100 years

₹ 21,50,000

Cumulative non-guaranteed benefits paid for the period assuming 8% gross rate of return*

₹ 22,75,000

Cumulative non-guaranteed benefits paid for the period assuming 4% gross rate of return*

₹ 1,78,750

 

*The gross rate of return shown above is the return earned on the participating fund of the company and is not guaranteed.

 

Needs Met

 

The regular payouts of this Policy help Rahul preserve his other savings, ensuring his funds are used as intended.

 

The Life Insurance benefit of the Policy ensures that if something unfortunate were to happen to Rahul before the Policy matures, his family will receive 11,80,410 as life insurance benefit.

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.

Bharti AXA Life Guaranteed Wealth Pro
Invest Rs. 5,000#/Month for 10 years | Get Rs. 14,39,732^

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).

**Tax benefits are in accordance to the current tax laws that are subjected to change from time to time.