Bharti AXA Life
Child Advantage
(UIN: 130N065V03)(ADVT No. II-Jul-2022-4079)
A Non-Linked Participating Individual Life Insurance Savings Plan
#MultiplePayoutOptions#PremiumWaiver#MaturityBenefit
Why Choose Bharti AXA Life Child Advantage?
This plan offers you guaranteed payouts at key milestones and waives off all future premiums in case of an unfortunate event, thus ensuring your child’s dreams are never compromised. Along with this, the bonuses accrued, if any, from the end of 1st year onwards are paid out at maturity which ensure additional needs of your child are met in the future. The Life Insurance Benefit acts as contingency fund to allow your family to maintain their standard of living, thus ensuring that nothing comes in the way of your child’s future.
- Dual Payout Options
I) Money back With the money back option, you will get guaranteed pay-outs in the last 5 years before maturity to meet your child’s education needs. At maturity you will get guaranteed maturity pay-out for your child’s higher education and career needs.
II) Endowment With the endowment plan you will get a guaranteed lump sum amount at maturity, provided the Policy is in force, to help meet your child’s dream.
- Premium Waiver Benefit
This ensures that your child’s needs will be taken care of. If something unfortunate were to happen to the parent (Life Insured) the future Premiums are waived off while all the benefits in the policy continue. - Flexible Policy Term
You have the flexibility to choose between 11 and 21 years. Based on your child’s age, you can choose a Policy Term between 11 to 21 years. Also choose the Premium payment type- ‘limited pay’ where the Premium payment term is 5 years lesser than the Policy Term or ‘regular pay’ where the Premium payment term is equal to Policy Term. - Potential Upside with Bonus
Non-guaranteed annual simple reversionary bonus gets accrued to the policy at the end of each year provided all due Premiums are paid and is payable at Maturity. The company may also declare non-guaranteed terminal bonus that will be also be payable at Maturity.
Key Benefits
Dual Maturity Benefit
Potential Upside with Bonus
Dual Premium Payment Terms
Life Insurance Benefit
Tax Benefits**
How Does the Plan Exactly Work?
Bharti AXA Life Child Advantage is a traditional participating plan with an in-built Premium Waiver Benefit. The plan is flexible to suit the requirements of your child and help you plan his/her future. This plan offers you two options:
What Do You Gain from the Plan?
As parents, you take care to plan your child’s future. You want to give them the best and nothing less. But life is unpredictable. An unfortunate event could cast a shadow on your child’s future; you need to be ready for every eventuality.
At Bharti AXA Life, we understand your needs and have decided to act. We bring you Bharti AXA Life Child Advantage. A child plan that offers you guaranteed payouts at key milestones and waives off all future premiums in case of an unfortunate event. Thus, ensuring that your child’s dreams are never compromised. Along with this, you get the benefits of non-guaranteed bonuses and Life Insurance, so your child’s aspirations and dreams are secured for life.
Option to Choose the Desired Benefits
You can choose between 2 Maturity benefits options under this plan at inception according to the needs and career goal of your child.
Money Back Option
Provides guaranteed pay outs in the last 5 years before maturity to meet your child’s education needs. At maturity this plan offers guaranteed maturity payout of 40% of Sum Assured, to support your child’s higher education and kick start his/her career.
|
Time of Guaranteed pay outs |
% of Sum Assured Payable |
|---|---|
|
End of 5th Year before the Maturity Date |
10% |
|
End of 4th Year before the Maturity Date |
10% |
|
End of 3rd Year before the Maturity Date |
15% |
|
End of 2nd Year before the Maturity Date |
15% |
|
End of 1st Year before the Maturity Date |
20% |
Endowment option
Provides a guaranteed lump sum amount of 125% of sum assured at maturity of the Policy, provided the policy is in force, to help your child pursue his aspirations and prepare him for the big events in life.
Policy Continuance
The policy ensures that your child will receive all the benefits as planned, by waiving off all the future premiums in case something unfortunate was to happen thus ensuring that Your child’s dreams will not be compromised even when you are not around.
Life Insurance Benefit
In case of the unfortunate event of death of the life insured, the nominee will receive Higher of (110% of Sum Assured for Money Back option and 125% of Sum Assured for Endowment option) or 11 times the base annualized Premium to support your child in a time of need. The death benefit payable at any point in time will not be less than 105% of all premiums paid. In case of an unfortunate event, the guaranteed benefits would continue as planned and all future premiums will be waived off.
Potential Upside with Bonus
The policy participates in the distribution of surplus or profits that may be declared by the Company. Non-Guaranteed Annual Simple Reversionary bonus gets accrued to the policy at the end of each year provided all due premiums are paid and is payable at Maturity. The company may also declare Non- Guaranteed Terminal bonus which is also payable along with Maturity Benefit.
Option to Choose Premium Payment Term
Depending upon the age of your child you can choose the Policy Term options from 11 to 21 Years. Then choose the premium payment type i.e., Limited Pay or Regular Pay depending upon your preference of investment tenure. For Regular Pay, the premium payment term is equal to Policy Term. For Limited Pay, the premium payment term is Policy Term minus 5 Years.
Tax Benefits
You may be eligible for the tax benefits on the premiums paid and, on the benefits, received subject to the prevailing provisions. The tax benefits are subject to change as per change in Tax laws from time to time.
Make Your Plan with Ease
Pick a Pay-out Option
Choose one of the options, as per your financial goals.
Money Back Option
Under this option, 40% of Sum Assured will be paid on Maturity Date at the end of the Policy Term. This option also offers Guaranteed Payouts (adding up to 70% of the sum assured) which would be as defined in Guaranteed Payouts section.
Note: The Money Back or Endowment Option should be chosen at inception of the Policy and cannot be changed during the Policy Term.
Endowment Option
Money Back Option
Under this option, 40% of Sum Assured will be paid on Maturity Date at the end of the Policy Term. This option also offers Guaranteed Payouts (adding up to 70% of the sum assured) which would be as defined in Guaranteed Payouts section.
Note: The Money Back or Endowment Option should be chosen at inception of the Policy and cannot be changed during the Policy Term.
Endowment Option
Under this option, 125% of Sum Assured will be paid on Maturity Date at the end of the Policy Term. No Guaranteed Payouts would be paid under this option.
Note: The Money Back or Endowment Option should be chosen at inception of the Policy and cannot be changed during the Policy Term.
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 hospitalization and also provides lump sum benefit in case of surgery.
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.
#For 30 Year Old Male, Endowment Plan Option, online purchase of policy excluding underwriting extra premium & GST. ^As lumpsum payout at the end of 20th year.