Bharti AXA Life
Smart Invest Guaranteed Plan

Invest ₹7,000#/Month for 5 years Get ₹7.23L*

(UIN: 130N108V01)(ADVT No. II-Dec-2022-4630)
A Non-Linked, Non-Participating, Life Insurance, Individual Savings Product

#TheSmartThingToDo#GuaranteedBenefits #SaveforFuture

Why Bharti AXA Life Smart Invest Plan is the right choice for you?

Bharti AXA Life Smart Invest Guaranteed Plan makes sure that you get to live the future you desire, without having to worry about money constraints. And in case of your unfortunate death, the Bharti AXA Life Smart Invest Guaranteed Plan also ensures the protection of the future of your precious family members. So, with the plan, you get.

  • Guaranteed Maturity Benefit

    The plan offers you fully guaranteed benefits. When your policy is in force and you successfully pay all the due premiums, you get a guaranteed lump sum benefit at maturity that can help you reach your milestones or you can enjoy the returns as retirement savings.

  • Life Insurance Cover

    The product offers you life insurance coverage during the policy term for the financial security of your family and loved ones.

  • Option to choose from 2 plan variants

    There are two types of coverage available, Single and Joint Life Cover. You get the option to choose cover on Single Life or Joint Life basis.

  • Flexibility to choose

    There are two sum assured multiples between which you can choose after meeting the required entry age.

  • Additional protection through riders

    For added protection, you can take riders that can be availed by paying an additional premium along with your Bharti AXA Life Smart Invest Guaranteed Plan. Please note that riders are not mandatory and available at an additional cost.

  • Tax Benefits

    With this plan, you are also eligible for tax benefits as per the prevailing tax laws. The tax benefits are as per Income Tax Act, 1961, and subject to amendment from time to time.

Key Benefits

Guaranteed Financial Returns1

Single/Joint Life Coverage

Flexible Policy Terms

Enhanced Safety

Tax Benefits2

How Does the Plan Exactly Work?

There are two plan variations available in our Bharti AXA Life Smart Invest Guaranteed Plan with differing payment modes; single-life coverage and joint-life coverage.

 

In single-life coverage, there are two sum assured options from which you can choose. Do remember that these two options are available for single premium policies only. With this guide, you will easily be able to understand how the plan works.

 

  • Option 1 : This option provides you 1.25 to 1.77 times sum assured multiple based on the entry age.
  • Option 2 : This option provides you 10 to 10.42 times sum assured multiple based on the entry age.

 

Let’s understand these options with the following illustrative scenario.

Siddharth is 45 years and has a 17-year-old daughter. He is looking to make an investment to cover the expenses of his daughter when she grows up, like marriage, education, and also for the times when he is not around. Having evaluated the various options available to him, he decides to buy a savings life insurance product as it will offer him guaranteed returns, life insurance coverage as well as tax benefits.

 

Siddharth decides to buy Bharti AXA Life Smart Invest Guaranteed Plan and opts for a single premium payment and option 1(Lower Life cover) with a policy term of 5 years. He wants to pay a premium of Rs. 1,00,000 (exclusive of taxes, rider premiums, and underwriting extra premiums). The Sum Assured at Maturity under his Policy is Rs. 1,34,311.

 

The below cases illustrate the benefits that Siddharth would receive under this plan.

 

Case I: On survival till policy maturity

 

Siddharth pays all the due premiums and survives till the end of the Policy Term. At maturity, he receives a lumpsum Maturity Benefit of Rs. 1,34,311.

end

 

Case II: In case of death during the policy term

 

In case of the death of Siddharth during the policy term in the 3rd year, his family would receive a Death Benefit of Rs. 1,40,000 immediately upon death and the policy will terminate.

end

 

You gain at every stage

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, a lump sum death benefit will be payable to the nominee immediately on death.

 

Option

Death Benefit

Single Pay

Sum Assured on Death

Non-Single Pay

Death Benefit is higher of:
1. Sum Assured on Death
2. 105% of the total premiums paid till the date of death

 

Wherein, the Sum Assured on Death is defined as,

 

Single Premium Policies

Sum Assured Multiple (Option 1 or Option 2) * Single Premium

Non-Single Premium Policies

10.5 * Annualized Premium

Joint Life Single Premium Policies

Varies between 1.67X to 1.25X based on the age of Primary Life * Single Premium for the first death.
And between 10.5X to 10X based on the age of Secondary Life * Single Premium for the second death.

 

Death during Grace Period

In case of the death of the life insured/s during the Grace Period, the death benefit after deducting the unpaid due premium shall be payable. The nominee will not have any rights or obligations except to receive the benefits under the policy.

 

Death during Lapse Status

In case of the death of the life insured while the policy is in lapse status, no benefit shall be payable and the policy shall terminate

Maturity Benefit

Upon survival of the Life Insured(s) till the end of the policy term and provided the policy is in force and all due premiums have been paid, maturity benefits are payable in a lump sum on the date of maturity.

 

Non-Single Pay (Regular/Limited Pay)

Sum Assured on Maturity plus Guaranteed Additions accrued till the date of Maturity, where Sum Assured on Maturity is defined as 105% of (Annualized premium * Premium Paying term)

Single Pay

Sum Assured on Maturity factor multiplied by the Single Premium

 

The Sum Assured on Maturity is equal to the (1000/Premium Rate) multiplied by the Single Premium.

 

Guaranteed Additions are defined as a percentage of Annualized Premium, shall accrue at the end of the Premium Paying Term, and shall be paid out as a lump sum at the Maturity of the Policy. Guaranteed Additions are not applicable for Single Premium Policies.

 

Note :Guaranteed Additions vary by entry age, policy term, and the applicable premium band.

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.

 

Note :The tax benefits are subject to change as per changes in tax laws from time to time. GST shall be applicable on premiums as per the prevailing Tax Laws.

Make your plan with ease

Pick a Coverage

Choose one of the coverage, as per your financial goals.

Single Life Coverage

Joint Life Coverage

Single Life Coverage

Joint Life Coverage

Now, add a rider

The plan offers you the provision to buy additional peace of mind.

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

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

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

This rider allows payment of a fixed benefit for each day of hospitalization subject to maximum of 40 days per year and also provides lump sum benefit in case of surgery.

Bharti AXA Life Premium Waiver Rider (UIN: 130B005V04):

Under this rider, in case the Life Insured is diagnosed from any of the 11 critical illnesses covered under the rider, the future premiums are waived off and the benefits under the policy will continue.

Bharti AXA Life Non Linked Complete Shield Rider (UIN 130B011V01):

Under this rider, benefits can be received for accidental death, accidental total and permanent disability, accidental permanent and partial disability, standard critical illnesses, comprehensive critical illnesses and cancer care.

Your Questions Answered

What premiums do I need to pay?

The premium rates vary according to age, gender, premium payment term, and policy term. The minimum premium amount for Single Premium is Rs. 5,000 and Rs. 3,500 for Non-Single Premium. You get to choose from monthly, quarterly, semi-annual, or annual premium payment modes.

 

Note : Premium will vary depending upon the option chosen. And the monthly and quarterly modes are available through auto-pay only.

 

There’s also the option of Advance Premium where you can pay the premium amount in advance based on the payment mode you select.

 

Note : In the case of Advance Premium, collection of advance premium shall be allowed within the same financial year for the premium due in that financial year. The premium so collected in advance shall only be adjusted on the due date of the premium.

What happens if I am unable to pay my premiums?

In case you fail to pay your premiums on time, you will be given a period known as a grace period. The grace period is the period after the premium due date, during which you may pay your premiums without any impact on the policy benefits.

 

During the grace period, the Policy is in-force including risk cover under the Rider. The grace period is 15 days for monthly mode and 30 days for annual/ semi-annual/ quarterly premium payment modes. 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 nominee will not have any rights or obligations except to receive the benefits under the policy.

What happens if my policy lapses?

If you stop paying premiums anytime in the first two years, your policy will lapse after the completion of the Grace Period and your insurance coverage will cease to exist. In this case, it means that the policy has not acquired surrender value. You can revive the policy within the period allowed for the revival of the policy. At the end of the revival period if the policy is not revived, then the policy will be terminated, and no benefits will be payable.

Insurance Jargon Explained

Single Premium Payment

It requires you to pay the entire payment all at once when you buy the policy. Here, the policyholder has to pay a lump sum as a premium instead of the yearly, quarterly, or monthly form of premium payment.

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.

Surrender Value

Surrender Value is the amount payable to the policy holder on his surrendering his right under a policy, and terminating the contract of insurance.

---It is the amount which the Policyholder would get in case of surrender of the policy. It is decided on the basis of number of premiums paid and the terms of the Insurance Plan and is lower than the Maturity Value in most cases.

1Provided policy is in force and all due premiums have been paid.

2Tax Benefits are as per Income Tax Act, 1961, and subject to amendment from time to time.

*For 30 Year Old Male, online purchase of policy excluding underwriting extra premium & GST. PT=10, PPT=5.

^Riders are not mandatory and available at an additional cost.