Bharti AXA Life Income Protection Plan

(ADVT NO:II-Dec-2019-2011)

A plan where your family receives income in the form of annual instalments for a period of 15 or 20 years in case of an unfortunate event of death. 100-120% of premiums paid are returned at the end of the policy term as a lump sum survival benefit.

4 Reasons to Buy

  • Provides an annual pre-planned income for your financially dependent family in order to take care of their recurring expenses in case of the unfortunate event of death
  • Term with 'Return of Premium' plan, which allows you to receive all your invested premiums* as Maturity benefit. Thus allowing you to avail maximum benefits from one plan (*Premiums are exclusive of Service Tax & underwriting extra)
  • Two death benefit options available, which allow flexibility in duration of payouts depending on your financial outlook
  • Tax benefits on the premiums paid as well as the benefits received as per the prevailing tax laws under Section 80C and Section 10 (10D) of the 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 it works?

Let’s take a look at this case study

Sujay, 35 years old decides to purchase Bharti AXA Life Income Protection plan, because he wants a plan that will ensure his wife and 3-year-old child remain financially protected in case something unfortunate were to happen to him. Since the plan also ensures that if he were to survive till the end of the policy term, he will receive all the premiums that he has paid over the entire term thus ensuring that he receives commensurate benefits for the premiums he invests whether it is in the form of the Death Benefit or Maturity Benefit.

For the Sum Assured selected, Sujay will need to pay Rs. 28,650 (exclusive of Service Tax) as annual premium. Benefits he will receive will be as following:

Benefits Amount Payable
Death Benefit ₹ 25,00,000 (paid as annual instalment of ₹ 1,91,250 for 20 years)
Maturity Benefit ₹ 6,87,600 (Option B)

(If the customer were to opt for Maturity Benefit Option A instead of Maturity benefit Option A at inception, the amount received at maturity would be Rs. 573,000)

Parameter Eligibility Criteria

Minimum age at entry

18 years

Maximum age at entry

58 years for policy term of 12 years
55 years for policy term of 15 years
50 years for policy term of 20 years

Maximum Age at Maturity entry

70 years

Premium Payment Term & Policy Term

12 years, 15 years and 20 years

Minimum Sum Assured (₹)

Rs 5,00,000

Maximum Sum Assured (₹)

No Limit, subject to underwriting

Minimum Premium (₹)

Policy Term of 12 years
Maturity Benefit Option A = ₹ 4,990
Maturity Benefit Option B = ₹ 7,480

Policy Term of 15 years
Maturity Benefit Option A = ₹ 3,565
Maturity Benefit Option B = ₹ 5,530

Policy Term of 20 years
Maturity Benefit Option A = ₹ 2,730
Maturity Benefit Option B = ₹ 3,825

Premium Payment Modes

Annual, semi-annual, quarterly* & monthly*

*ECS only