Bharti AXA Life
Monthly Income Plan+

Bharti AXA Life Monthly Income Plan+

(UIN: 130N057V03)(ADVT No. II-Sep-2024-5494)
A Non-Linked Participating Individual Life Insurance Savings Plan

#AssuredIncome#TaxBenefits#DeathBenefit

Why Bharti AXA Life Monthly Income Plan+ is the right choice for you?

Every month comes with a new wish. We understand this, and present you Bharti AXA Life Monthly Income Plan+, a plan that guarantees you an extra source of monthly income that enables you to fulfil those long pending wishes and desires.

  • Monthly Income Benefits

    Benefits in the form of guaranteed monthly income after completion of premium payment term until Maturity, provided the policy is still in force. You have the flexibility to choose the Monthly income you wish to receive, which decides your Premium amount.

  • Potential Upside of Bonus

    A non-guaranteed simple annual reversionary bonus gets accrued to the policy from the end of the 1st policy year and will get paid out on maturity or on death. You may also receive non-guaranteed terminal bonus either on death or maturity.

  • Tax Benefits

    Enjoy tax benefits on the premiums paid and pay-out benefits received. They are subject to change as per changes in tax laws from time to time.

  • Retirement Planning

    Ideal for retirement planning or for receiving additional monthly income. The additional tax-free income can help you live a comfortable life in your golden years.
    Subject to the prevailing tax laws

Key Benefits

Guaranteed Monthly Income

Life Insurance Benefit

Tax Benefits

Maturity Benefit

Multiple Policy Term

How Does the Plan Work?

 

Following illustrative scenarios will help you understand Bharti AXA Life Monthly Income Plan+ :

 

35-year-old Rohit chooses our Bharti AXA Life Monthly Income Plan+ with a policy term of 15 years as he wishes to receive ₹ 3000 as a guaranteed Monthly income. He pays an annual premium for 7 years.

 

Starts paying an annual premium of ₹ 35,715.

 

1st Policy Year

Finishes paying an annual premium of ₹ 35,715

 

7th Policy Year

He receives a monthly income of ₹ 3,000 for 8 years (In case of survival)

 

8th Policy Year

He receives a vested non-guaranteed benefit of ₹ 80,784 at 8% #gross rate of return (on maturity). He receives a vested non-guaranteed benefit of ₹ 9,504 at 4% #gross rate of return (on maturity)

 

*Premium is exclusive of taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.

 

# 4% and 8% rates are used only for illustration purposes and are not guaranteed. The values represented with 4% & 8% are not the upper or lower limits of what one can expect from this policy, as it is dependent on a number of factors, including investment performance

 

Sad Demise

In case of his sad demise, his family receives a monthly income of ₹ 4,950 until 8 years

Make your plan with ease

Choose Policy Term

You have the flexibility to choose your policy term from 3 options

15 Years

Monthly Income Benefit Period: 8 Years (96 Months)

20 Years

30 Years

15 Years

Monthly Income Benefit Period: 8 Years (96 Months)

20 Years

Monthly Income Benefit Period: 10 Years (120 Months)

30 Years

Monthly Income Benefit Period: 15 Years (180 Months)

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:130B007V05):

This rider allows payment of a fixed benefit for each day of hospitalisation. It also offers a fixed amount benefit if you are admitted to an Intensive Unit Care or a lump sum benefit in case of surgery.

Bharti AXA Life Premium Waiver Rider (UIN: 130B005V05):

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 the Proposer, depending on the chosen option.

Bharti AXA Life Term Rider (UIN: 130B009V03):

Under this term 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.

Your Questions Answered

What is the important benefit of this plan?

The important benefits of this plan are as follows :

  • Financial protection to you and your family.
  • Monthly income benefits for your family
  • The inbuilt accidental death benefit
  • Bonuses to augment your savings.
  • Grow Your Wealth Further with Wealth Booster
  • Multiple Investment Strategies to Suit Your Investment Needs
  • Tax Benefits
  • Guaranteed Monthly Income
  • Maturity Benefits
  • Death Benefits
  • Self-Funding for Premiums
  • Long Term Coverage

How much income is assured, and on what basis?

The minimum sum assured is calculated on the basis of the minimum monthly income multiplied by the duration for which it will be paid.

  • Rs. 1.92 lakhs for a policy term of 15 years.
  • Rs. 2.1 lakhs for a policy term of 20 years.
  • Rs. 1.35 lakhs for a policy term of 30 years.

Is the receivable income taxable?

You may avail the tax benefits on the premiums paid, and the benefits received, subject to the prevailing tax laws. The tax benefits are subject to change as per changes in Tax laws from time to time.

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.

^Tax benefits are as per the current tax laws that are subject to change from time to time.