Bharti AXA Life Guaranteed Wealth Pro

(UIN: 130N107V01) (ADVT No. II-Jan-2022-3541)
A Non-Linked, Non-Participating Individual Savings Life Insurance Plan

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Fulfil your dreams and aspirations with this insurance plan!

Why Bharti AXA Life Guaranteed Wealth Pro is the right choice for you?

At Bharti AXA Life, we understand the importance of not only saving for the future but also ensuring that the future is safe in case of any unfortunate event. That is why we present to you Bharti AXA Life Guaranteed Wealth Pro - a Life Insurance plan that offers life insurance coverage along with an opportunity to save for your future. The product is designed to protect your family's financial security to ensure that they lead their lives comfortably without any financial worries, even in your absence.

  • Secure your Financial Obligations

    Fulfil your financial goals and obligations – whether for child needs (such as Education and Marriage), retirement, a holiday or just planning a supplementary income for your family.

  • Flexibility to Choose the Payout Structure

    Bharti AXA Life Guaranteed Wealth Pro offers you the option to choose from the Endowment as well as Income options. Both the options provide guaranteed benefits based on your personal choice and needs, to ensure that you overcome the most uncertain times.

  • Multiple Income Options

    The Income option gives you various options to choose from, viz. deferred income (which offers short-term, long-term and life-long income options post completion of premium payment term) as well as Early income (which offers you the choice of short-term and long-term income options beginning from the second policy year itself).

  • Guaranteed Financial Returns

    The plan offers you fully guaranteed benefits to help you save for your milestones, provided all due premiums have been paid and policy is in force.

  • Life Insurance Cover

    The product offers life insurance cover for the financial security of your family and loved ones. Apart from the in-built cover, you can get added protection through additional rider(s) that can be taken with the policy. Please note that riders are not mandatory and available at an additional cost.

  • Tax Benefits

    You may be eligible for the tax benefits on the premiums paid along with the benefits received, subject to the prevailing tax laws. The tax benefits are subject to change as per change in Tax laws from time to time.

Key Benefits

Multiple Payout Options

Enhanced Protection

Tax Benefits

Flexibility in Policy Terms

Best in Class IRR

Lifelong Income till age 100

Return of Premium (Applicable for Life Long Income, Long Term Income and Long Term Early Income)

Tax free income beginning from the second policy year

How Does the Plan Exactly Work?

Following illustrative scenarios will help you understand different options offered by Bharti AXA Life Guaranteed Wealth Pro:

 

Siddharth is 35 years old and is looking for opportunities to save for his future. He evaluated multiple financial instruments such as debt funds, fixed deposits, mutual funds, and insurance based on their likelihood of guaranteed & safe returns, financial security as well as tax benefits. Taking into account the benefits offered by each instrument, he decided to save for his future with a life insurance policy which offers all three benefits of guaranteed returns, financial security for his family through inbuilt death benefit along with the tax benefits that he was looking for.

 

Siddharth chooses Bharti AXA Life Guaranteed Wealth Pro and opts for Endowment Option considering he wants a lumpsum benefit at maturity and opts for a policy term of 24 years and premium payment term of 12 years.

 

He wants to pay a premium of INR 50,000 p.a. (exclusive of taxes, rider premiums, underwriting extra premiums, if any). The Sum Assured at Maturity under his Policy is INR 8,99,993.

 

The below cases illustrate the benefits that Siddharth would receive in this Endowment option.

 

Case I: On survival till policy maturity

 

Siddharth pays all the due premiums and survives till the end of the Policy Term. At the end of 21st, 22nd, 23rd and 24th Policy Years, the benefits under his Policy are enhanced by Loyalty Additions of INR 163,200 each. At maturity, he receives a lumpsum Maturity Benefit of INR 15,52,793.

 

end

 

Total Premium Paid INR

6,00,000

Benefits Payable

Benefit Amount INR

Accrued Loyalty Additions

652,800

Sum Assured on Maturity

899,993

Maturity Benefit at the end of 24th Year

15,52,793

 

Case II : In case of death during policy term :

 

In case of death of Siddharth during the policy term in the 15th year, his family would receive Death Benefit of INR 630,000 immediately on death.

 

end

 

All the above examples are for illustration purpose only.

You gain at every stage

Tax Relief

You gain tax benefits on the premiums paid as well as the benefits received, as per the prevailing tax laws. To be noted that tax benefits are subject to change as per change in tax laws from time to time.

Survival Benefit

1. Endowment Option

 

Upon survival of the Life Insured till the end of the Policy Term and provided the Policy is in- force and all due premiums have been paid Loyalty Additions accrued till the date of Maturity shall be payable as a lumpsum.

Loyalty Additions, defined as a percentage of Annualized Premium and varying by age, premium size and premium payment term / policy term chosen, shall accrue in the last four policy years (at the end of the Policy Year). Accrued Loyalty Additions are payable as lumpsum on death of the Life Insured, surrender and maturity.

Maturity Benefit

Upon survival of the Life Insured till the end of the Policy Term and provided the Policy is in-force all due premiums have been paid, maturity benefits are payable in lumpsum on the date of maturity in the following manner:

 

Benefit Option

Maturity Benefit

Endowment Option

Endowment Option
(Limited Pay)

Sum Assured on Maturity plus Loyalty Additions accrued till the date of Maturity.

Endowment Option
(Single Pay)

Sum Assured on Maturity

Sum Assured on Maturity is equal to the Sum Assured under the Policy.

Death Cover

In case of death of the Life Insured during the Policy Term, provided the Policy is in-force and all due premiums till the date of death have been paid, Death Benefit will be payable to the Nominee immediately on death. On payment of death benefit to the nominee, the policy will terminate and no further benefits will be payable.

 

Death Benefit for the two Benefit Options available under the Plan is as follows :

 

Benefit Option

Death Benefit

Endowment Option
(Single Pay)

Sum Assured on Death

Endowment Option
(Limited Pay)

Death Benefit is higher of:

1. Sum Assured on Death; plus accrued Loyalty Additions (if any) till the date of death

2. 105% of the total premiums paid# till date of death

 

Where,

  • Sum Assured on Death is defined as Sum Assured Multiple * Annualized Premium/ Single Premium (as applicable). The Sum Assured Multiple under the various options is as follows :

     

    Option

    Sum Assured Multiple

    Endowment Option (Single Pay)

    1.25 or 10 times as opted

    Endowment Option (Limited Pay)

    10.5

  • #Total Premiums Paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.

  • Annualized Premium shall be the premium payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any

  • Single Premium shall be the total Premium amount payable at inception, excluding applicable taxes, rider premiums, underwriting extra premiums, if any.

  • The product does not offer any Loyalty Additions in case of Single Pay option.
 

Death during Grace Period

In case of the death of the life insured during the Grace Period, the death benefit after deducting the unpaid due premium shall be payable. The nominee will not have any rights or obligations except to receive the benefits under the policy.

 

Death During Lapse Status

In case of the death of the life insured while the policy is in lapse status, no benefit shall be payable and the policy shall terminate.
(For complete details of death and maturity benefits in each plan option, please refer to the Brochure carefully)

Make your plan with ease

Pick a plan option

Choose one of the options, as per your financial goals.

Endowment option

Sum assured on maturity plus loyalty Additions accrued till the date of maturity (if applicable) shall be payable as a lumpsum.

Income Option

Flexibility to choose from deferred or immediate income option

Endowment option

Sum assured on maturity plus loyalty Additions accrued till the date of maturity (if applicable) shall be payable as a lumpsum.

  • If you wish to save for a special life goal such as child’s higher education or marriage, buying a house etc.
  • This option offers guaranteed lump sum returns on your hard-earned money.

Income Option

Flexibility to choose from deferred or immediate income option

  • Under deferred income you can select from short-term, long-term and life-long income options and under immediate income you have the option to choose from short-term and long-term income.
  • This option will help you in supplementing your earnings.
  • If you want to plan for an uncertain future and wish for guaranteed returns.
  • If you wish to save for a special life goal such as child’s higher education or marriage, buying a house etc.
  • This option offers guaranteed lump sum returns on your hard-earned money.

Now, add a rider

The Bharti AXA Life Guaranteed Wealth Pro makes you feel good about life insurance.
The plan offers you the provision to buy additional peace of mind.

Bharti AXA Life Term Rider (UIN: 130B009V02):

Under this rider the policyholder can increase the life insurance coverage for a nominal premium.

Bharti AXA Life Hospi Cash Rider (UIN: 130B007V04):

This rider allows payment of a fixed benefit for each day of hospitalization subject to maximum of 40 days per year and also provides lump sum benefit in case of surgery.

Bharti AXA Life Accidental Death Benefit Rider (UIN: 130B008V02):

Receive additional sum assured as chosen under the rider in case of unfortunate event of death due to an accident.

Bharti AXA Life Premium Waiver Rider (UIN: 130B005V04):

Under this rider, in case the Life Insured is diagnosed from any of the 11 critical illnesses covered under the rider, the future premiums are waived off and the benefits under the policy will continue.

Your Questions Answered

How do I know my ideal Sum Assured?

The ideal income for your chosen Sum Assured is shown in the premium box. Depending on your income status you can either increase or decrease your Sum Assured.

What will be the difference if I take the policy from an aggregator?

There is no difference. Web aggregators just advertise the benefits of Bharti AXA Life products on their website. All applications for purchasing the policy are directly routed to the Bharti AXA Life website. A customer cannot directly purchase the policy from an aggregator.

I do not have my policy details readily available with me either for Bharti AXA or for any other Insurance Company.

We suggest you save the data entered till now & collect the information requested for completing this information. Any non-disclosure can have a direct impact on your application.

Insurance Jargon Explained

Sum Assured

Sum assured is the amount that an insurer agrees to pay on the occurrence of a stated contingency (eg: Death).

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.

Coverage

The amount of protection provided to the Policyholder on the basis of premium amount and the terms of the policy.

Rider

A provision attached to a policy that adds benefits not available in the original policy or that changes the original policy.

Riders help the Policyholder in enhancing the insurance product to meet specific needs by adding protection benefits to the basic Insurance Plan at a lower additional cost. For example, Bharti AXA Life Hospi cash rider provides fixed per day cash benefit to the Policyholder for each day of hospitalisation, thus providing benefits of a health plan along with base Life Insurance plan.