Bharti AXA Life Shining Stars

(UIN:130N095V03)
(ADVT NO:II-June-2020-2254)

A Non Linked and Non Participating Limited Pay Endowment Life Insurance Plan. 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.

4 Reasons to Buy

  • 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: Option to choose between 2 Maturity Payout options – a) Flexi Payout Option or b) Annual Payout Option at the time of inception. The Payout option can be modified at the time of Maturity as per the child’s needs. You may also choose to receive the payout at the end of any year during the Maturity Payout period under Flexi Payout Option. Under Annual Payout option, you may choose to take the present value as lumpsum for all outstanding future payouts.
  • 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

Plan Details

How does the Product work?

Let’s take a look at this 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.

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

Flexi Payout Option – 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 year old.

 

 

Benefits Payable Benefit Amount @ (₹)
Maturity Benefit at the 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.

Annual Payout Option – When Anil decides to receive annual payouts for 5 consecutive years to support the yearly educational expenses which may occur due to rising inflation or for any other purpose

Benefits Payable Benefit Amount @ (₹)
Maturity Payout at the end of 15th Year 1,63,350
Maturity Payout at the end of 16th Year 1,63,350
Maturity Payout at the end of 17th Year 1,63,350
Maturity Payout at the end of 18th Year 1,63,350
Maturity Payout at the end of 19th Year 1,63,350
Total Benefit Payable 8,16,751

 

In case of death of Anil's during the policy term (Let’s say, in the 5th Policy Year)

  • His family would receive a death benefit of ₹ 7,42,501 immediately.
  • No further premiums to be paid.
  • Anil's nominee would also continue to receive the Maturity benefit at the time of Maturity as per the chosen option.
Parameter Eligibility Criteria

Minimum age at entry

18 years age last birthday for all Policy terms.

Maximum age at entry

60 years age last birthday for all Policy terms.

Maximum Age at Maturity

Policy Term

Premium Payment Term

Maximum Age at Maturity

12 years

7 years

72 years

13 years

8 years

73 years

14 years

9 years

74 years

15 years

10 years

75 years

16 years

11 years

76 years

17 years

12 years

77 years

18 years

13 years

78 years

19 years

14 years

79 years

20 years

15 years

80 years

Policy Term & Premium Payment Term

Policy Term

Premium Payment Term

12 years

7 years

13 years

8 years

14 years

9 years

15 years

10 years

16 years

11 years

17 years

12 years

18 years

13 years

19 years

14 years

20 years

15 years

Minimum Sum Assured (₹)

50,000

Maximum Sum Assured (₹)

No Limit, subject to underwriting

Minimum Premium (₹)

Premium Payment Term

Policy Term

Minimum Annual Premium

7 years

12 years

5,791

8 years

13 years

4,913

9 years

14 years

4,330

10 years

15 years

3,744

11 years

16 years

3,312

12 years

17 years

2,930

13 years

18 years

2,625

14 years

19 years

2,375

15 years

20 years

2,169

Premium Payment Modes

Annual, semi- annual, quarterly* & monthly*

*Through auto pay only