Why Bharti AXA Life Shining Stars is the Right Choice for You

This child plan policy offers you the flexibility to choose from multiple premium paying terms and policy terms allowing you to choose the benefit payout options depending on your child's needs. A great short-term investment option for a child insurance policy.

  • Flexibility in Policy Term/Premium Payment Terms

    The product offers the choice of 9 combinations of policy terms and premium payment terms. A great single premium policy for child.

  • Flexibility to opt between 2 Maturity Payout Options
    Flexi Payout Option

    You may choose to receive the payout at the end of any year during the Maturity Payout period under Flexi Payout Option.

    Annual Payout Option at the time of inception

    Under Annual Payout option, you may choose to take the present value as lumpsum for all outstanding future payouts.

    The Payout option can be modified at the time of Maturity as per the child’s needs.

  • Inbuilt Benefit in case of death

    This benefit ensures that your child’s needs are taken care of if something unfortunate happens to the parent (Life Insured) during the Policy Term. In such a case, no further premiums to be paid, death benefit is paid and the Maturity Benefit shall continue to be payable to the nominee at the time of Maturity.

  • Tax benefits

    You can avail the tax benefits on the premiums paid and the benefits received subject to the prevailing provisions under Income Tax Act, 1961. The tax benefits are subject to change as per change in Tax laws from time to time.

Bharti AXA Life Shining Stars
Invest Rs. 6,000#/Month for 10 years | Get Rs. 12,46,263^

How does the plan exactly work?

 

Let’s take a look at a case study

 

Anil works in an MNC and is a 35-year-old married man. His family consists of his wife and his 3-year-old son. He wants to start planning for his son and needs a comprehensive child insurance policy to take care of all education related expenses of his son and accumulate enough funds which can be utilized for his child’s marriage or his child’s education plan or any other purposes in future. He also wants to ensure that his family’s needs are taken care of in case of his death.

 

Anil does not want to be constrained by the payout options that he chooses at the time of inception of the policy, hence, he decides to purchase Bharti AXA Life Shining Stars where he can choose to change the benefit options even at the time of Maturity.

 

He decides to take a policy term of 15 years for which the premium payment term is 10 years.

 

He decides to pay a premium of Rs. 50,000 p.a. (exclusive of taxes) for which the Sum Assured is Rs. 7,42,501. He pays the premium for 10 years.

 

Flexi Payout Option illustrate

 

Let us look at the benefits that Anil would receive in the below payout options so as to fulfil his future goals

 

When Anil decides to receive Maturity Benefit as a lumpsum so that he can pay for his child’s higher education expenses when his child turns 18 years old.

 

Benefits Payable

Benefit Amount @ (₹)

Maturity Benefit at end of 16th year

7,79,626

 

Anil may also choose to take the lumpsum at the end of any year during the Maturity Payout period. Maturity Payout period is the period of 4 years starting from Maturity.

What do you Gain from the Plan?

Maturity Benefit

In case the Life Insured survives till Maturity Date and all due premiums have been paid, the Maturity Benefit will be payable to the Policyholder on the date of Maturity. Maturity Benefit is the Sum Assured on Maturity, which is equal to the Sum Assured under the policy and will be paid as lump sum. The Policyholder has the flexibility to choose any one option from the two Maturity Payout Options, as defined below, to receive this Maturity Benefit during the Maturity Payout Period. Maturity Payout period is the period of 4 years from the date of maturity. The choice of the options can be taken either at policy inception or at least 90 days before the date of maturity.

 

Flexi Payout Option 

 

Flexibility to receive Maturity Benefit as a lumpsum amount at the end of any year during the Maturity Payout period. Depending on the year of payout chosen, the benefit will be determined as Flexi Payout Factor * Sum Assured, where the Flexi Payout Factors are as defined below:

 

The Guaranteed Maturity Addition is determined as Guaranteed Maturity Addition% X Sum Assured, where the Guaranteed Maturity Addition% varies according to premium bands as below:

Year of Payout

Flexi Payout Factors

One Year after maturity date

105%

Two Years after maturity date

110%

Three Years after maturity date

116%

Four Years after maturity date

122%

Death Benefit

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, the Death Benefit will be payable immediately on death.

 

Death Benefit is the Sum Assured on Death, which is the highest of

  • 11 times Annualized Premium*
  • 105% of all premiums paid as on date of death
  • Absolute amount assured to be paid on death equal to the Sum Assured
  • Sum Assured on Maturity, equal to the Sum Assured under the policy

 

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

 

In addition to the death benefit mentioned above, the policy shall continue after the death of the Life Insured till the end of the Policy Term with no further premiums to be paid and the Maturity Benefit shall continue to be payable to the nominee at the time of Maturity as per the Maturity Payout Option chosen by the Policyholder. The nominee will not have any rights or obligations except to receive the benefits under the Policy.

 

In case of the death of the life insured during the Maturity Payout Period, the maturity benefit will continue to be paid out to the nominee according to the Maturity Payout Option chosen by the Policyholder.

 

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 policy shall continue after the death of the Life Insured till the end of the Policy Term with no further premiums to be paid and the Maturity Benefit shall continue to be payable to the nominee at the time of Maturity as per the Maturity Payout Option chosen by the Policyholder at the time of inception. The nominee will not have any rights or obligations except to receive the benefits under the policy.

 

In case of the death of the Life Insured while the Policy is in lapse status, no benefit shall be payable and the Policy will terminate.

Tax Benefits

You may be eligible for tax benefits on the premiums paid as well as the benefits received as per the prevailing tax laws under Section 80C and Section 10 (10D) of the Income Tax Act, 1961. The tax benefits are subject to change as per the change in tax laws from time to time.

Bharti AXA Life Shining Stars
Invest Rs. 6,000#/Month for 10 years | Get Rs. 12,46,263^

Choose Your Plan with Ease

Select a Maturity Payout Option

Flexi Payout Option

 

You can choose to receive the payout at the end of any year during the Maturity Payout period under Flexi Payout Option.

Annual Payout Option at the time of inception

Flexi Payout Option

 

You can choose to receive the payout at the end of any year during the Maturity Payout period under Flexi Payout Option.

Annual Payout Option at the time of inception

Note: The Payout option can be modified at the time of Maturity as per the child’s needs.

 

Under Annual Payout option, you can choose to take the present value as lumpsum for all outstanding future payouts.

Now, Choose a Rider

For added protection the following riders can be availed by paying additional premium along with Bharti AXA Life Shining Stars:

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

This rider allows payment of a fixed benefit for each day of hospitalization and also provides lump sum benefit in case of surgery.

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

Under this rider, you will receive the additional sum assured, as chosen, in case of unfortunate event of death due to an accident.

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

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

Please refer rider brochure for complete details on terms and conditions and exclusions before opting for the rider.

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.

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.

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).

#For 30 Year Old Male, PT-15, PPT-10, on online purchase of policy excluding underwriting extra premium (if any) & GST. ^From 15th year onwards as 2,49,253 every year for 5 years.