Bharti AXA Life Aajeevan Sampatti Plan
Product Info
UIN
Status
Launch Date
Withdrawn Date
Product Overview
Bharti AXA Life Aajeevan Sampatti Plan is a traditional participating whole life plan that ensures a worry-free life with a guaranteed payouts and adequate protection until you reach the age of 100 years. Thus, this is a Traditional Plan with Bonus Facility where the premiums need to be paid for a limited period and not for the entire policy tenure.
Product Description
- It is an Insurance Policy with both Death Benefit and Maturity Benefit.
- Premium needs to be paid only for 10 or 15 years as chosen.
- The Sum Assured would be paid on policy maturity when the life insured is 100 years of age as Maturity Benefit or on earlier death as Death Benefit.
COMPARE & BUY SIMILAR PLANS
Unique Features
- Bharti Axa Aajeevan Sampathi is a traditional whole life plan with bonus facility.
- 5.5% of the Sum Assured is paid as Guaranteed Payout after completion of 10 policy years.
- This policy offers Cash Bonus after completion of the 6th policy years until maturity or on death, whichever is earlier.
Eligibility Criteria
| Eligibility Criteria | ||||||
|---|---|---|---|---|---|---|
| Entry Age | Minimum | Maximum | ||||
| 91 Days | 60 years | |||||
| Max Age at Maturity | - | 100 Years | ||||
| Sum Assured | Rs. 50,000 | No Limit | ||||
| Minimum Premium | Policy Term | Amount | ||||
| 15,379 | 10 Years | |||||
| 9,100 | 15 Years | |||||
| Payment Modes | Yearly, Half-Yearly, Quarterly and Monthly* | |||||
| Notes: *For monthly mode: 3 monthly premiums to be paid in advance and renewal premium payment is allowed only through ECS, Credit Card, Direct Debit and EFT. |
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| Minimum | Maximum | |||||
| Policy Term (Years) | 10 Years | 20 Years | ||||
| Premium Payment Term(Years) | Equal to Policy Term | |||||
OneInsure App Benefits
Product Benefit
- Maturity Benefit:
When the policy terminates, i.e. the Life Insured is 100 years old, the entire Sum Assured + the Accrued Cash Bonus would be paid as Maturity Benefit.
- Death Benefit:
In the event of death of the Life Insured, the nominee gets the entire Sum Assured + the Accrued Cash Bonus as Death Benefit and the policy terminates.
Other Policy Features
| Feature | Description | |||||
|---|---|---|---|---|---|---|
| Cash Bonuses | It participates in the performance of the participating insurance fund and surplus (if declared) is distributed as a bonus. | |||||
| This bonus (if declared) is paid out as a cash benefit every year, starting from the end of 6th Policy Year, until maturity or on death, whichever is earlier. | ||||||
| Discontinuous Premium | All benefits of the policy will cease after the expiry of the grace period from the unpaid premium due date. The Policy continues in a Paid-Up State. | |||||
| Revival | It can be revived within 5 policy years from the date of the first unpaid premium. | |||||
| Surrender | There are Surrender Benefits under this term plan after premiums have been paid for the first three policy years. | |||||
| Guaranteed Surrender Value | 30% of all the premiums paid - 1st years premium. | |||||
| Loan | Loan facility is not available under this policy. | |||||
Add-ons
- Premium Waiver Rider:
In the event of death of the Life Assured, all the future premiums gets waived off and all benefits remain intact in the policy. Benefit will be paid to the nominee as per the policy features and terms & conditions.
Exclusions
If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of reinstatement of the Policy, the Policy shall be void and the Company will only be liable to pay the higher of 80% of premiums paid or the surrender value.
Tax Benefits
Tax Benefits will be as per Section 80C & Section 10(10D) of the Income Tax Act, 1961.
Claim Process
Know Claim Process of Bharti AXA Life Aajeevan Sampatti Plan
Company Overview
Bharti AXA Life is a life Insurance player that was started in the year 2006. It brings together the strong financial expertise of the Paris - Headquartered AXA Group and Bharti Enterprises - which is one of the India's leading business groups with interests in telecom, agricultural business, financial services, and retail.
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