Bharti AXA Life Secure Income Plan
(UIN:130N056V05)
(ADVT NO:II-May-2020-2209)
Pay limited Premiums with this saving plan depending on the term you choose. At the end of your chosen term, you start receiving 8% p.a. of the Sum Assured as guaranteed Monthly income*. On Maturity you will receive the Sum Assured plus guaranteed additions as benefits.
*Life Insurance coverage is available under this product.
4 Reasons to Buy
- Limited pay guaranteed income plan. You start receiving guaranteed tax-free income after the completion of the Premium payment term, until Maturity, provided the policy is in force and all due Premiums have been paid.
- Guaranteed additions of up to 10% (depending on plan term chosen) regularly added during the plan term. A fixed guaranteed addition, declared as a percentage of the Sum Assured will get added to your policy each year after the completion of Premium payment term, until Maturity of the policy. These guaranteed additions get paid out either on death or at Maturity. 7% of Sum Assured for a Premium payment of 5 years, 8.5% of Sum Assured for a Premium payment of 7 years and 10% of Sum Assured for a Premium payment of 10 years.
- Guaranteed benefit at Maturity. You get Sum Assured plus Guaranteed Additions.
- Enjoy 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.
Plan Details
How it works?
Let’s take a look at this case study
30 year old Gaurav chooses our Bharti AXA Life Secure Income Plan with a policy term of 20 years as he wishes to receive a guaranteed monthly income along with a guaranteed amount at maturity. He pays an annual premium of ₹ 50,000 for 10 years for a Sum Assured of ₹ 3,11,061.
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Starts paying an annual premium of ₹ 50,000
1ST POLICY YEAR
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Finishes paying an annual premium
10TH POLICY YEAR
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He starts to receive an annual income of ₹ 24,885
11TH POLICY YEAR
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He continues to receive an annual income of ₹ 24,885 till the 20th year
20TH POLICY YEAR
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He receives a guaranteed maturity amount of ₹ 6,22,122
END OF
20TH POLICY YEAR
Sad Demise
- In case Gaurav’s demise, his family will receive a total death benefit of ₹ 6,50,000
|
Parameter |
Eligibility Criteria |
|
Minimum age at entry |
3 years for 15 years Policy Term 1 year for 17 years Policy Term 0 year for 20 years Policy Term |
|
Maximum age at entry |
65 years for 15 years Policy Term 63 years for 17 years Policy Term 60 years for 20 years Policy Term |
|
Maximum Maturity Age |
80 years |
|
Minimum Premium |
For 15 years Policy Term ₹ 30,000 for Annual Mode ₹ 8,100 for Quarterly Mode ₹ 2,700 for Monthly Mode For 17 years Policy Term ₹ 24,000 for Annual Mode ₹ 12,480 for Semi-Annual Mode ₹ 6,480 for Quarterly Mode ₹ 2,160 for Monthly Mode For 20 years Policy Term ₹ 20,000 for Annual Mode ₹ 6,240 for Semi-Annual Mode ₹ 3,240 for Quarterly Mode ₹ 1,080 for Monthly Mode |
|
Policy Term |
15, 17 and 20 years |
|
Premium Payment Term |
5, 7 and 10 years for 15, 17 and 20 years Policy Term respectively |
|
Premium Payment Modes |
Annual, Semi annual, Quarterly* & Monthly* |
*Through ECS only