Bharti AXA Life Premier Protect Plan
A plan that not only offers financial protection to your family in your absence but also offers the option of increasing protection at important milestones.
4 Reasons to Buy
- Flexibility in Policy Term/Premium Payment Terms: The plan offers the choice of multiple policy terms ranging from 10 years to 35 years and To Age 75 years with multiple premium payment terms (Single, Limited and Regular Pay Options)
- Multiple Death Benefit Payout Option: Flexibility to choose from 3 Death Benefit Payout options : a) Lumpsum – where 100% of Death Benefit is paid immediately b) Monthly Income – where Death Benefit is paid as 1.04% of the Sum Assured as monthly income for 10 years c) Lumpsum plus Monthly Income – where 50% of the Death Benefit is paid immediately as lumpsum and the remaining 50% is paid as 0.93% of the Sum Assured as monthly income for 5 years
- Increase the Sum Assured on important milestones: Flexibility for the customer to increase the Sum Assured during the Policy Term by 50% of the Sum Assured chosen at inception on 3 milestones – Marriage , Purchase of House , Birth of Child
- 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
Siddharth is a 35 year old non-smoker salaried professional. His family consists of his wife and a son. He is worried about the uncertainties in life and realizes the need for protection in his fast-paced life. He wants to ensure that his family's needs are taken care of in case of his death and wants an insurance solution to this.
How does the plan work?
Siddharth decides to purchase Bharti AXA Life Premier Protect Plan for a policy term of 25 years regular pay and opts for Lumpsum payout option. He wants a Sum Assured of Rs. 1,00,00,000 for which he pays a premium of Rs. 12,400 p.a. (exclusive of taxes)
Case 1: In case of death of Siddharth during the policy term, his family would receive death benefit of Rs. 1 Cr immediately on death.
Case 2: Siddharth continues to live a healthy life and at the age of 40 years, he and his wife plan to have a second child. In this major milestone of Siddharth’s life and due to increased responsibilities, he wants to increase the protection by 50% so as to secure both his children and his wife in case of any unfortunate event.
Based on the increased protection, Siddharth's Sum Assured increases to Rs. 1.5 Cr for which he pays an additional premium of Rs. 8,000 p.a. (exclusive of taxes) i.e. total premium of Rs. 20,400 p.a. for the remaining 20 years of the policy term.
In case of Siddharth's death within 60 years of age, his family would receive Rs. 1.5 Cr immediately on death.
|Minimum age at entry||18 years age last birthday|
|Maximum age at entry||65 years age last birthday|
|Maximum Age at Maturity||75 years age last birthday|
|Policy Term & Premium Payment Term||
|Minimum Sum Assured (Rs.)||Rs 50,00,000|
|Maximum Sum Assured (Rs.)||No Limit, subject to underwriting|
|Premium Payment Modes||Annual, semi- annual, quarterly* & monthly*|
|Minimum Premium||Based on the minimum Sum Assured|
* Through auto pay only