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Bharti AXA Life Unnati

(UIN: 130N106V01) (ADVT No. II-Sep-2021-3161)
A Non-Linked, Participating, Individual Savings, Life Insurance Plan

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One plan that fits different life plans

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.

  • Get Life Insurance Cover

    for the entire policy term

  • Choose Whole Life Cover

    to stay protected up to 100 years.

  • Protect your family

    with Waiver of Premium

  • 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

Key Benefits of Bharti AXA Life Unnati Plan

Multiple Plan Options

Waiver of Premium

Enhanced Protection

Tax Benefits

Flexibility in Policy Terms

What Our Customers Say

Sunayana Verma

Website journey was very simple and user friendly, Adviser has advised very nicely in simple manner. Advise to purchase a dual benefit plan(Shinnin...

Sunayana Verma

Mumbai | May 10, 2021

Kamleshwar Prasad

It has been a wonderful 14 years journey with Bharti AXA Life till now with full of extra-ordinary learning and growth opportunities along with som...

Kamleshwar Prasad

Jun 28, 2021

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.

 

Scenario

 

Siddharth, age 35 years, decides to purchase Bharti AXA Life Unnati. He opts for the Endowment Option – Base Variant considering he wants a lump sum benefit at maturity and opts for a policy term of 24 years and a premium payment term of 12 years.

 

He wants to pay a premium of Rs. 50,000 p.a. (exclusive of taxes, rider premiums, underwriting extra premiums, if any). The Sum Assured on Maturity would be Rs. 8,62,830 and Sum Assured on Death would be Rs. 5,25,000

 

The below cases illustrate the benefits that Siddharth would receive in the Endowment Option - Base Variant.

 

Case I

 

From the 1st policy year, Simple Reversionary Bonus, if declared, may accrue at the end of each policy year till the end of the policy term.

 

Siddharth pays the premiums for the entire duration of the premium payment term that is, 12 years.

 

At maturity, a lump sum Maturity Benefit is payable.

 

Unnati Plan with Life Insurance Coverage - Bharti AXA Life

 

Total Premium Paid (Rs.)

6,00,000

Estimate Benefits Payable (Rs.)

Assumed @ 4% p.a.

Assumed @ 8% p.a.

Sum Assured on Maturity

8,62,830

8,62,830

Accrued Simple Reversionary Bonus, if any

62,124

4,18,300

Terminal Bonus, if declared

51,770

4,14,158

Maturity Benefit at the end of 24th Year

9,76,724

16,95,288

 

Case II

 

In case of Siddharth’s death during the policy term at the end of the 10th year, the death benefit would be Sum Assured on Death plus the accrued Simple Reversionary Bonus till the date of death, his family would receive death benefit immediately on death as follows:

 

Estimate Benefits Payable (Rs.)

Assumed @ 4% p.a.

Assumed @ 8% p.a.

Sum Assured on Death

5,25,000

5,25,000

Accrued Simple Reversionary Bonus, if any

25,885

1,74,292

Death Benefit

5,50,885

6,99,292

 

4% and 8% rates of investment returns are used only for illustration purposes and are not guaranteed. 4% and 8% are not the upper or lower limits of what one may expect from this plan, as it is dependent on multiple factors.

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.

 

Base Variant & Higher Death Benefit Variant

Waiver of Premium Variant

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

Endowment - Base Variant

10.5

Endowment - Higher Death Benefit Variant

15.0

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:

The policyholder can increase the life insurance coverage for a nominal premium.

Bharti AXA Life Hospi Cash Rider:

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 Accidental Death:

The policyholder can get an additional Sum Assured as chosen under the rider, in case of the life insured passing away due to an accident.

Bharti AXA Life Premium Waiver Rider:

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.

Bharti AXA Life Accidental Total and Permanent Disability Rider:

An amount equal to Rider Sum Assured shall be payable in case of Total and Permanent Disability of the Life Insured within 120 days from the occurrence of an accident (and independent of all other causes).

 

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

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.