Bharti AXA Life Super Endowment Plan
(ADVT NO: II-Dec-2019-2005)
A plan that helps to build your wealth, in a planned manner and meet your financial goals and future expenses.
4 Reasons to Buy
- Flexibility in Policy Term/Premium Payment Terms: Flexibility to choose from 10 combinations of policy terms and premium payment terms.
- Guaranteed Benefits: Get Survival Benefit as 50% of the Sum Assured at the end of one year before the end of policy term and Sum Assured on Maturity as Maturity benefit at the end of the Policy term in case the Life Insured survives till that period and all premiums have been duly paid.
- Extended Life Cover Benefit: An option to choose for Extended Life Cover benefit at inception of the policy by paying additional premium throughout the premium paying term.
- 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.
How does the Product work?
Let’s take a look at this case study
Ravi, 35 years old has a son of 3 years old. He is looking for a simple plan that could double his returns and help him get guaranteed lump sum amount that can be utilized for his child’s post-graduation and also to shield his family against any unfortunate event that could happen to him.
He decides to pay a premium of Rs. 50,000 p.a. (exclusive of taxes) for which the Sum Assured is Rs. 6,66,756. He pays the premium for 10 years.
|Benefits Payable||End of Policy Year||Guaranteed Benefit as % of Sum Assured||Guaranteed Benefit|
|Survival Benefit||19th Year||50%||₹ 3,33,378|
|Maturity Benefit||20th Year||Sum Assured on Maturity||₹ 6,66,756|
- Ravi pays the premium for 10 years and receives Survival Benefit of Rs. 3,33,378 at the end of 19th year and Maturity Benefit of Rs. 6,66,756 at the end of 20th year.
- Total Benefits received by Ravi is Rs. 10,00,133 which is double the premiums paid by him and can be utilized for his child’s higher education when his son turns 23 years old.
In case of Ravi’s demise before Maturity of the Policy, his nominee/legal heir(s) would receive Rs. 6,66,756 as death benefit
|Minimum age at entry||Policy Term||Age at Entry|
|16 years||2 years|
|18/20 years||91 days|
|The insurance cover will start immediately on policy commencement for all lives including minors.|
|Maximum age at entry||60 years for all Policy Terms In case Extended Life Cover is opted for, the maximum age at entry is 55 years age last birthday|
|Maximum age at Maturity||Maximum Age||Policy Term|
|76 years||16 years|
|78 years||18 years|
|80 years||20 years|
|Policy Term & Premium Payment Term||Policy Term||Premium Payment Term|
|16 years||8 years|
|18 years||9 years|
|20 years||8 to 15 years|
|The Policy Term is from the date of commencement of Policy till the Maturity Date and does not include the Extended Life Cover Period. The Extended Life Cover Period will start immediately after maturity|
|Minimum Sum Assured (₹)||50,000|
|Maximum Sum Assured (₹)||No Limit, subject to underwriting|
|Minimum Premium (₹)||Premium Payment Term||Policy Term||Minimum Annual Premium|
|Premium Payment Modes||Annual, semi- annual, quarterly* & monthly*|
*Through auto pay only