ULIP Plans

Bharti AXA Life provides some of the best insurance policy plans available in the market. The ULIP plan offered by Bharti AXA Life is aimed towards providing life insurance cover as well as growth in the investment of the policyholder. The ULIP plan offered by Bharti AXA Life is the Bharti AXA Life Wealth Pro Plan. This policy plan offers a comprehensive financial solution to provide life cover of up to 10 times the amount of the premium. It thus helps build wealth over a long period of time and enables fulfilment of aspirations and dreams of the individual and his/her family. The plan provides two variants to choose from: growth variant and legacy variant. Moreover, multiple investment strategies are also offered to choose from as per the investor’s suitability and needs. Other benefits included in the plan are death benefit, maturity benefit, loyalty addition, settlement option, and others.

*Single pay option not available for the Legacy variant investment

In a ULIP plan, the premium paid by the policyholder is invested in a fund that will collect long-term savings. This fund will be decided as per the policyholder’s choice and according to his/her estimated risks. The premium paid is subject to various changes like mortality changes, administrative changes, fund management changes, etc. Under ULIP policy plans, no withdrawal is allowed for 5 years, which is the lock-in period.

After this lock-in period, money can be withdrawn partially without any termination. Following are some of the other key features of ULIP:

Single Premium

In a ULIP policy plan, the policyholder is required to pay the entire premium amount as a lump sum, at the beginning of the policy term.

Regular Premium Payment

The policyholder of a ULIP policy has to pay pre-determined premium amount on a periodical basis, i.e. annually, semi-annually, or monthly, based on the premium payment term opted for.

Number of Premium Payment Years

The number of the premium payment years depends on the term of the policy that the policyholder has chosen. In most of the cases, the number of premium paying years and the term of the policy are the same. However, in some policies, the insured gets the option of choosing the number of years of premium payment.

ULIP plan returns can be calculated easily by following certain steps. With the help of the online calculator, you can calculate the estimated investment returns. While using the ULIP calculator, the buyers must consider details like premium payment frequency, types of funds, expected rate of returns on investment, amount of money to be invested, etc. Firstly, log in to the online ULIP calculator. As per your suitability, select the premium to be paid for investment, the minimum amount being Rs. 1500 per month. In the next step, select the frequency of premium payment. Then select the tenure of the policy and the amount of premium payment which they want to allocate for investment. Next, the investor will have to select the lock-in period of investment. The ULIP plans offer a minimum lock-in period of 5 years, but according to the experts, it is more beneficial to gain maximum return on investment by investing for a long period of time. As the last step, the investor must select the types of funds in which they want to invest their money in. However, before making the investment, it is highly important to check how the fund has performed in the market. The ULIP calculator is very easy and hassle-free to use. Along with estimating the returns, the ULIP calculators also take into consideration the inflation rates.

Anyone who is looking out for making financial investments must buy a ULIP policy. If you are looking for availing the multiple investment benefits of the market, you choose one of the most popular and reliable wealth creation instruments like the Unit Linked Insurance Plan (ULIP). If you are someone who wants to avail the dual benefits of life coverage and long-term investment, ULIP investment will help you reap those benefits. Moreover, ULIP plans reap maximum returns through numerous instruments like equity funds, debt funds, or balanced funds. You can gain higher returns on your investment by purchasing the ULIP plan. If you want to avail the benefit of life cover, and get coverage in times of the unfortunate event of death, in order to help your family in times of financial crisis, you can choose to purchase a ULIP plan. Other than that, you can also avail long-term savings fund growth benefit for fulfilling the future financial needs and requirements. Along with the other numerous benefits, if you also want to avail tax exemption benefits, ULIP insurance plan helps gain those benefits. If you are looking for investment options, selecting the best instrument for investment is a crucial and cumbersome task. However, if you want to strike a balance between your insurance cover and maximized returns, you must purchase the ULIP investment plan.

The first step involves informing us about your intention to file the claim. Get a hold of the claims form which you can find both at our physical outlet as well as Bharti AXA’s online portal. The claims form will involve filling in details such as cause of death, name of the beneficiary, the location of the death, and personal details such as date of birth of the beneficiary, policy number and name of the beneficiary amongst other aspects.

The next step involves arranging all the necessary documents that you will need in order to ensure that your claim goes through successfully. Some of the main documents that you need to keep handy if you are looking to file a claim include the death certificate pertaining to the deceased registered under the policy, age of the deceased, original copies of the policy document, ID proof of the beneficiary, and any medical reports/records pertaining to the beneficiary’s demise.

Once the claims form and the necessary documents are submitted, the claim will be processed within a duration of 30 days. In some cases, additional steps will be undertaken by the insurer. This is especially true in cases where claims are made within a period of 3 years since the purchase of the policy, in lieu of which additional investigation is undertaken. This includes checking with the hospital where the deceased registered under the policy was admitted prior to his/her demise.