Bharti AXA Life
Monthly Advantage
(UIN: 130N068V04)(ADVT No. II-Jul-2022-4086)
A Non-Linked, Participating Individual Life Insurance Savings Plan
#MonthlyIncome#SurvivalBenefit#TaxBenefits
Why Bharti AXA Life Monthly Advantage is the Right Choice?
It is a plan that gives you the flexibility to choose your Policy Term and Premium Payment Term from 3 options. It makes sure you receive a steady stream of monthly income without staying invested in the plan for a very long time. Life Insurance coverage is available under this product.
- Guaranteed Monthly Income
You start receiving Guaranteed Monthly Income after the completion of the Premium Payment Term, until Maturity, provided the policy is in force. You have the flexibility to choose the Monthly Income you wish to receive, which decides your Premium amount.
- Potential Upside through Bonuses
Non-Guaranteed Simple Annual Reversionary Bonuses (if declared) get accrued to the policy from the end of 1st policy year and get paid out on Maturity, Death or Accidental Total Permanent Disability. You may also receive Non-Guaranteed terminal bonus (if declared).
- Death or Accidental Total Permanent Disability (ATPD) Benefit
In case of the unfortunate event of Death or Accidental Total Permanent Disability of the Life Insured, the Monthly Income is payable to the nominee from the next policy month onwards and continues for the next 6, 8 or 12 years depending on the Policy Term option chosen at inception of the policy.
- Tax Benefits
Tax benefit for premiums paid and benefits received, are as per the prevailing tax laws which are subject to changes.
Key Benefits
Limited Pay Options
Maturity Benefit
Annual Reversionary Bonuses
Death Benefit
Accidental Total Permanent Disability Benefit
Survival Benefit
Tax Benefits**
How Does the Product Work?
What Do You Gain from the Plan?
Limited Pay Options
You have the flexibility to choose your Policy term from 3 options. The corresponding Premium Payment Term for each policy term is as mentioned below :
| Policy Term | Premium Payment Term |
|---|---|
| 12 Years | 6 Years |
| 16 Years | 8 Years |
| 24 Years | 12 Years |
* Through ECS only
Maturity Benefit
At Maturity, you receive Non-Guaranteed Annual Reversionary Bonus (if any) plus Non-Guaranteed Terminal Bonus (if any), subject to the policy being in force.
Potential Upside through Bonuses
Non-Guaranteed Simple Annual Reversionary Bonuses (if any) get accrued to the policy from the end of 1st policy year and get paid out on Maturity, Death or Accidental Total Permanent Disability. You may also receive Non-Guaranteed terminal bonus (if any).
Insurance Benefit Payable
In the event of death or Accidental Total Permanent Disability (whichever is earlier), provided the policy is in force & all premiums have been paid, the insurance benefit is paid out which is higher of the following :
- Sum Assured on Death plus Non-Guaranteed vested simple Reversionary Bonuses and Non-Guaranteed Terminal Bonus (if any).
- 105% of all premiums paid as on the date of Death.
The benefit will be paid in equal monthly instalments starting immediately from the next monthly anniversary following date of death or ATPD and will be payable for the number of months as mentioned in the table below :
| Policy Term | No. of months for which Death Benefit will be payable |
|---|---|
| 12 Years | 72 Months |
| 16 Years | 96 Months |
| 24 Years | 144 Months |
The non-guaranteed vested simple Reversionary Bonus along with Terminal Bonus (if any), shall be payable as lump sum immediately on Death of Life Insured.
Survival Benefit
Subject to the policy being in force, the Guaranteed Monthly Income on Survival (as displayed in the table below) will be payable monthly starting from the end of the next month after the completion of the Premium Payment Term and will be payable for 72 months for 12 year policy term, 96 months for 16 year policy term and 144 months for 24 year policy term.
| Policy Term | Premium Payment Term | Guaranteed Monthly Income on Survival as % of (annual premium/12) |
|---|---|---|
| 12 Years | 6 years | 105% |
| 16 Years | 8 years | 110% |
| 24 Years | 12 years | 120% |
Tax Benefits
You may be eligible for the tax benefits on the premiums paid along with the benefits received, subject to the prevailing provisions. The tax benefits are subject to change as per the change in tax laws from time to time.
Make Your Plan with Ease
Pick a Policy Term
Choose one of the options, as per your financial goals.
12 years
Premium payment term: 6 years
16 years
Premium payment term: 8 years
24 years
Premium payment term: 12 years
12 years
Premium payment term: 6 years
16 years
Premium payment term: 8 years
24 years
Premium payment term: 12 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.
Bharti AXA Life Term Rider (UIN: 130B009V02):
Under this rider the policyholder can increase the life insurance coverage for a nominal premium.
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 current tax laws that are subject to change from time to time.