Bharti AXA Life POS Saral Bachat Yojana

(UIN:130N090V02)
(ADVT NO:II-Jul-2022-4088)

A Non-Linked, Non-participating Individual life Insurance Savings Plan

A quick and easy to buy plan that helps you save for future needs and also provide financial backup to secure your family’s future in case of an unfortunate death.

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4 Reasons to Buy

Flexibility in Policy Term/Premium Payment Terms: Flexibility to choose from 5 combinations of policy terms and premium payment terms.
Comprehensive Protection Plan: Life Insurance cover in case of death and 2X Life Insurance cover in case of death due to accident.
Savings through Maturity Benefit: At the end of your policy term, you will get Sum Assured on Maturity provided all due premiums have been paid and policy is in-force.
Tax benefits: You may be eligible for the tax benefits on the premiums paid and the benefits received subject to the prevailing provisions.

Plan Details

How does the Product work?

Ajay, 35 years old is looking for a simple plan with good returns that helps him get guaranteed protection as well as lump sum payout that can be utilized for future expenses and also to shield his family in the event of his death.

Ajay decides to purchase Bharti AXA Life POS Saral Bachat Yojana for a policy term of 10 years for which the premium payment term is 5 years.

He decides to pay a premium of Rs. 1,500 per month (exclusive of taxes) for 5 years.

Let us look at the benefits that Ajay would receive

Benefits Payable	End of Policy Year	Maturity Benefit = Sum Assured on Maturity
Maturity Benefit	10th Year	₹ 1,27,617

In case of Ajay’s death during the policy term, his family would receive benefits as given below

Benefits Payable	Death Benefit
Death Benefit* (other than death due to Accident)	₹ 1,90,311
Death Benefit^ (death due to Accident)	₹ 3,80,622

* There is a waiting period of 90 days. During this period, 100% of premiums paid till the date of death (excluding any taxes) will be payable as Death Benefit.
^ No waiting period is applicable in case of death due to Accident.

Needs Met:

By making a small monthly payout, Ajay has been able to accumulate his savings which he will get through the Maturity Benefit.
Comprehensive Protection in event of death with additional cover in case of death due to accident.

Parameter

Eligibility Criteria

Minimum age at entry

Policy Term	Age at Entry
10 years	8 years
15 years	3 years

The insurance cover will start immediately on policy commencement for all lives including minors.

Maximum age at entry

55 years for 10-year Policy Term
50 years for 15 year Policy Term

Maximum age at Maturity

65 years, age last birthday for all Policy Terms

Policy Term & Premium Payment Term

Policy Term	Premium Payment Term
10 years	5 years
15 years	6, 8, 10 & 12 years

Minimum Sum Assured (₹)

Premium Payment Term	Policy Term	Minimum Sum Assured
5 years	10 years	15,602
6 years	15 years	24,018
8 years	15 years	30,649
10 years	15 years	35,868
12 years	15 years	41,295

The minimum Sum Assured is as per maximum age at entry

Maximum Sum Assured (₹)

Premium Payment Term	Policy Term	Maximum Sum Assured
5 years	10 years	6,75,753
6 years	15 years	10,00,000
8 years	15 years	10,00,000
10 years	15 years	10,00,000
12 years	15 years	10,00,000

Minimum Premium (₹)

The minimum premium is Rs 2,500 per annum for all ages and Premium Payment Term / Policy Term combinations. The applicable taxes will be collected separately along with the premium collection.

Maximum Premium (₹)

Premium Payment Term	Policy Term	Maximum Premium
5 years	10 years	90,909
6 years	15 years	90,909
8 years	15 years	77,970
10 years	15 years	66,860
12 years	15 years	57,990

The Maximum premium will be as per the Maximum Sum Assured and Maximum age at entry for the respective policy terms. The applicable taxes will be collected separately along with the premium collection.

Premium Payment Modes

Annual, semi-annual, quarterly* & monthly*

*Through auto pay only

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