Bharti AXA Life Elite Advantage
(ADVT NO: II-May-2020-2208)
A comprehensive long term savings plan with dual benefits of :
a. Guaranteed pay-outs# of 8.5% to 9.5% of Sum Assured on Maturity, paid during Maturity Payout period.
b. 100% Sum Assured at Maturity*
c. One of the best investment plans with high returns
Life Insurance coverage is available under this product.
#Provided the policy is in force, Guaranteed Payouts start after the policy term & depends upon Premium payment Term & premium band.
*Payouts at the end of Maturity Payout Period.
4 Reasons to Buy
- Enjoy Guaranteed benefits at regular intervals. A percentage of the Sum Assured on Maturity will be paid during the Maturity pay-out period as a guaranteed maturity benefit starting from the end of the Policy Term till the end of the 19th year. You can choose whether the Guaranteed pay-outs will be annual/semi-annual/quarterly.
- Enjoy Guaranteed lump sum benefit at Maturity. 100% of Sum Assured on Maturity is paid at the end of 20th year from the policy date.
- Different Premium payment Terms to choose from. Premium payment Terms are 5, 7 and 12 years.
- Receive Tax benefits on the Premiums paid and pay-out benefits received. The Tax benefits fall under Section 80C and Section 10 (10D) respectively, of the Income Tax Act, 1961. They are subject to change as per change in tax laws from time to time.
How it works?
Let’s take a look at this case study
35 year old Mohan is looking for an income protection plan he chooses our Bharti AXA Life Elite Advantage a term plan with maturity benefits to meet his future expenses such as his daughter’s higher education, marriage expenses etc., for a Sum Assured of ₹ 11,87,648. He pays an annual premium of ₹ 1,00,000 for 12 years.
Starts paying an annual premium of ₹ 1,00,000* every year
1ST POLICY YEAR
Finishes paying an annual premium of ₹ 1,00,000*
12TH POLICY YEAR
He receives a Guaranteed pay-out of ₹ 1,12,827 annually (9.5% of sum assured at maturity)
12TH POLICY YEAR
He continues to receive the maturity benefit in regular instalments from the end of the policy term till the end of the 19th year.
19TH POLICY YEAR
He receives a lump sum amount of ₹ 11,87,648 at the end of the 20th year.
20TH POLICY YEAR
*Premium is exclusive of service tax
- In case of his demise before 12th Policy Year, his family will receive ₹ 11,87,648
- In case of his sad demise during the 12th Policy Year, his family will receive ₹ 12,60,000
|Minimum age at entry (age as on last birthday)||8 years for 10-years Policy Term
6 years for 12-years Policy Term
The risk coverage will start immediately on policy commencement for all lives including minors
|Maximum age at entry (age as on last birthday)||65 years|
|Maximum Maturity Age (age as on last birthday)||75 years for 10-years Policy Term
77 years for 12-years Policy Term
|Minimum Sum Assured||Depends on the minimum premium|
|Minimum Annualised Premium||₹ 24,000 for 5-years Premium Payment Term
₹ 15,000 for 7-years Premium Payment Term
₹ 12,000 for 12-years Premium Payment Term
|Policy Term||10 and 12 years.|
|Premium Payment Term||5 years for 10-years Policy Term
7/12 years for 12-years Policy Term
|Premium Payment Modes||Annual, Semi-Annual, Quarterly*, Monthly*|
|Maturity Payout Period||End of 10th year till end of 20th year for 10-years Policy Term
End of 12th year till end of 20th year for 12-years Policy Term
|Guaranteed Payout frequency||Annual, Semi-Annual, Quarterly|
* Through auto pay only