Bharti AXA Life
Unnati
(UIN: 130N106V01)(ADVT No. II-Jul-2022-4093)
A Non-Linked, Participating, Individual Savings, Life Insurance Plan
Why Bharti AXA Life Unnati is great for you?
The plan gives life insurance coverage and benefits of a savings product at affordable rates so that you can secure your family’s future and plan for various life goals.
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Get Life Insurance Cover
for the entire policy term
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Choose Whole Life Cover
to stay protected up to 100 years.
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Protect your family
with Waiver of Premium
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Get 15x protection* throughout the policy term
with the higher death benefit option
*Available through Higher Death Benefit Variant under Endowment Option -
4 plan options to choose from:
Moneyback Option
Immediate Income Option
Whole Life Income Option
Endowment Option -
Tax Benefits
You may be eligible for the tax benefits on the premiums paid and on the benefits received subject to the prevailing tax laws.
The tax benefits are subject to change as per change in Tax laws from time to time.
Key Benefits of Bharti AXA Life Unnati Plan
Multiple Plan Options
Waiver of Premium
Enhanced Protection
Tax Benefits
Flexibility in Policy Terms
How does the plan exactly work?
These illustrative life scenarios lay out several use cases to help you see how this life insurance plan works.
You gain at every stage
Death Benefit
In case the Life Insured passes away during the Policy Term, the following benefits will be payable to the Nominee, provided the Policy is in force and all due premiums till the date of death have been paid. Death Benefit will be payable immediately on death to the nominee.
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Base Variant & Higher Death Benefit Variant |
Waiver of Premium Variant |
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For death during the policy term, the death benefit is payable and the policy terminates. Death Benefit is higher of: 1. Sum Assured on Death; plus Simple reversionary bonus accrued till the date of death plus Terminal Bonus, if declared, will be payable. 2. 105% of the Total Premiums paid^ as on the date of death. |
For death during the policy term, the death benefit is payable. Death Benefit is higher of : 1. Sum Assured on Death; 2. 105% of the Total Premiums paid^ as on the date of death Additionally, all future premiums will be waived off. The Simple Revisionary Bonus, if declared, shall continue to accrue at the end of each Policy Year until Maturity and the accrued Simple Reversionary Bonus shall be payable at maturity along with Sum Assured on Maturity and Terminal Bonus, if declared. |
Where,
Sum Assured on Death = Sum Assured Multiple * Annualized Premium
Where Sum Assured Multiple is as below:
|
Plan Option |
Sum Assured multiple |
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Endowment - Base Variant |
10.5 |
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Endowment - Higher Death Benefit Variant |
15.0 |
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Endowment - Waiver of Premium Variant |
10.5 |
Where, Annualized Premium shall be the premium payable in a year chosen by the Policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.
^Total Premiums paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.
Maturity Benefit (All Variants)
In case the Life Insured survives till the maturity of the policy and all premiums are duly paid, then the benefits as mentioned below will be payable as a lump sum:
Maturity Benefit = Sum Assured on Maturity + Accrued Simple Reversionary Bonuses + Terminal Bonus, if declared
Simple Reversionary Bonus
For Endowment Option (All Variants except Waiver of Premium Variant) this bonus shall accrue at the end of each policy year commencing from the first policy year until the maturity or death of the policyholder, whichever is earlier.
The accrued Simple Reversionary Bonuses shall be payable at maturity or death, whichever is earlier.
*For Endowment Option (Waiver of Premium Variant), the Simple Revisionary Bonus shall accrue at the end of each policy year commencing from the first policy year until Maturity and the accrued Simple Reversionary Bonus shall be payable at maturity.
The Simple Reversionary Bonus will be calculated as a percentage of the Sum Assured on Maturity.
The Simple Reversionary Bonus rate declared by the company is dependent on the performance of the participating fund.
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. The tax benefits are subject to change as per change in tax laws from time to time.
Make your plan with ease
Pick a plan option
Choose one of the options, as per your financial goals.
Moneyback Option
Guaranteed moneyback equal to one annualized premium every 4th year.
Immediate Income Option
Cash benefit (bonus) is paid out every year from 2nd policy year till policy matures.
Whole Life Income Option
Guaranteed payout every year along with a Life Cover till the age of 100
Endowment Option
Lumpsum benefit at maturity to meet your long-term goals.
Moneyback Option
Guaranteed moneyback equal to one annualized premium every 4th year.
Immediate Income Option
Cash benefit (bonus) is paid out every year from 2nd policy year till policy matures.
Whole Life Income Option
Guaranteed payout every year along with a Life Cover till the age of 100
Endowment Option
Lumpsum benefit at maturity to meet your long-term goals.
Now, add a rider
The Bharti AXA Unnati will help you feel secure about your family’s future.
The plan offers you enhanced protection with multiple riders.
Bharti AXA Life Term Rider (130B009V02):
The policyholder can increase the life insurance coverage for a nominal premium.
Bharti AXA Life Hospi Cash Rider (130B007V04):
This allows payment of a fixed benefit for each day of hospitalization, subject to a maximum of 40 days per year, and also provides a lump sum benefit in case of surgery.
Bharti AXA Life Premium Waiver Rider (130B005V04):
In case the policyholder is diagnosed to be suffering from any of the 11 critical illnesses covered under the rider, then the future premiums are waived off and the benefits under the policy will continue.
Insurance Jargon Explained
Participating Policy
An insurance plan which gives the policyholder a share in the profits of the insurance company’s participating fund in the form of bonuses. Apart from bonuses, such insurance plans shall provide some guaranteed benefits also. Participating policy is also referred to as “with profits policy”.
Endowment plan
An insurance policy which provides a lump sum amount on a fixed date, either maturity of the policy or upon the death of the life insured, whichever occurs earlier.
Income payout
The money paid to the policyholder as regular income at the end of the policy term.
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.
You might find these useful
We have more articles and updates. Be assured that you have made the right choice with Bharti AXA Life Unnati, in order to have certainty for your life goals.
3 Min Read Time | November 01, 2018
2:46 Min Read Time | December 01, 2020
3 Min Read Time | March 24, 2020
#For 30 Year Old Male, Endowment Plan Option, online purchase of policy excluding underwriting extra premium & GST. ^As lumpsum payout at the end of 20th year.