Bharti AXA Aajeevan Sampatti Plus Plan
Product Info
UIN
130N058V01
Status
Active
Launch Date
11/11/2013
Withdrawn Date
Product Overview
Bharti Axa Sampatti Plus plan offers dual advantage of guaranteed annual payouts and protection up to the age of 100. The guaranteed annual payouts up to 6% of the Sum Assured value is paid every year from the end of the 10th policy year until death or maturity, provided the policy is in-force.
Product Description
- This plan provides guaranteed annual payouts post the 10th year of policy year until maturity (except in the policy year coinciding with maturity).
- This plan provides life cover till age 100 or 85 years depending on the policy.
- This plan offers non-guaranteed cash bonuses from the 6th year of the policy, subject to the policy being in force.
- This plan provides guaranteed lump sum payout on survival till age 100 or 85 depending on the policy.
COMPARE & BUY SIMILAR PLANS
Unique Features
- Guaranteed payout of 5.5% of the Sum Assured if the policy term is untill age 100 years and 6% of the Sum Assured if the policy term is untill age 85 years.
- This Plan provides a non-guaranteed cash bonus from the 6th policy year. The maximum bonus declared till date is 2.75%.
- There is an option of adding a Hospital Cash Rider under this plan. It can be taken additionally to pay fixed benefits in the event of a hospitalization or surgery.
Eligibility Criteria
| Eligibility Criteria | ||||||
|---|---|---|---|---|---|---|
| Entry Age | Minimum | Maximum | ||||
| 91 Days | 60 years for ‘To age 100’ policy term | |||||
| 50 years for ‘To age 85’ policy term | ||||||
| Max Age at Maturity | Either 100 or 85 years depending on the policy (age last birthday) term chosen. | |||||
| Sum Assured | Rs. 50,000 | No Limit | ||||
| Minimum Premium | Will depend on the minimum Sum Assured on Maturity | |||||
| Premium Payment Term | 10 years & 15 years | |||||
| Payment Modes | Yearly, Half-Yearly, Quarterly** and Monthly** | |||||
| Notes: **Through auto-pay only | ||||||
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Product Benefit
- Survival Benefit:
- Guaranteed payout of 5.5% of the Sum Assured on Maturity paid every year starting from the end of 10th Policy Year till the age 100.
- Guaranteed payout of 6% of the Sum Assured on Maturity paid every year starting from the end of 10th Policy year till age 85.
- Non-Guaranteed Cash Bonus paid every year starting from the end of 6th policy year onwards.
- Death Benefit:
In the event of an unfortunate death of the life insured, the amount payable will be either sum assured or 11 times annualised premium or 105% of all the premiums paid, whichever is higher.
Other Policy Features
| Feature | Description | |||||
|---|---|---|---|---|---|---|
| Guaranteed Annual Payouts | Policy Term | Guaranteed Annual Payout Percentage | ||||
| To age 100 | 5.5% of Sum Assured on Maturity | |||||
| To age 85 | 6% of Sum Assured on Maturity | |||||
| Notes :- Guaranteed Payout starts from the end of 10th year onwards until the age of 100/85 years (or death) if the policy is still in force. | ||||||
| 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 death, whichever is earlier. | ||||||
| Lapse | If the Premium is not paid on the due date, the policyholder will get 30 days of Grace Period to pay all the due premiums. Benefits under the policy will remain unaltered during this period. | |||||
| If Policy has not acquired a Surrender Value: | ||||||
| The policy shall lapse with effect from the date of such unpaid premium (‘lapse date’). The policyholder will get two years to reinstate theisPolicy from the date of the first unpaid premium. | ||||||
| If the policyholder does not reinstate the policy within the period allowed for reinstatement, the Policy shall be terminated on the completion of the period allowed for reinstatement and no benefits shall be payable. | ||||||
| If Policy has acquired a Surrender Value: | ||||||
| Policyholder will get two years to Reinstate the Policy from the date of the first unpaid premium. | ||||||
| The Policy shall continue in paid-up status and the paid-up value as on the date the policy becomes Paid-Up, shall be payable either on the death or on the maturity of the policy. | ||||||
| If the policyholder reinstates the policy during the reinstatement period then all benefits will be reinstated. | ||||||
| Reinstatement | You have the flexibility to reinstate all the benefits under your policy within two years if your policy has lapsed or is in paid-up status after the due date of the premium. | |||||
| The Company would require:- | ||||||
| A written application from you for reinstatement | ||||||
| Satisfactory evidence of insurability | ||||||
| Payment of all overdue premiums with interest as specified by the company from time to time. | ||||||
| Reduced Paid up Value | Paid up value on Maturity = Number of Premiums paid X Sum Assured on the Maturity / Premium Payment Term | |||||
| Paid up value on Death = Number of Premiums paid X Sum Assured on the death / Premium Payment Term | ||||||
| Paid Up value on Surrender = Paid-Up Value on Maturity X Special Surrender Value Factor/1000 | ||||||
| Notes: Non-Guaranteed bonus received as cash benefit from the end of 6th policy year until maturity or death. | ||||||
| Surrender Value | The policy acquires a surrender value after the payment of one Annualised Premium Guaranteed. | |||||
| The guaranteed Surrender Value factors at different policy years are as mentioned in the table below: | ||||||
| Premium Payment Term / Policy Year | 10 years | 15 years | Premium Payment Term / Policy Year | 10 years | 15 years | |
| 1 | 10% | 10% | 16 | 60% | 55% | |
| 2 | 10% | 10% | 17 | 60% | 55% | |
| 3 | 30% | 30% | 18 | 60% | 60% | |
| 4 | 50% | 50% | 19 | 70% | 60% | |
| 5 | 50% | 50% | 20 | 70% | 60% | |
| 6 | 50% | 50% | 21 | 70% | 60% | |
| 7 | 50% | 50% | 22 | 70% | 70% | |
| 8 | 50% | 50% | 23 | 80% | 70% | |
| 9 | 50% | 50% | 24 | 80% | 70% | |
| 10 | 50% | 50% | 25 | 80% | 70% | |
| 11 | 55% | 50% | 26 | 90% | 80% | |
| 12 | 55% | 50% | 27 | 90% | 80% | |
| 13 | 55% | 50% | 28 | 90% | 80% | |
| 14 | 55% | 55% | 29 | 90% | 80% | |
| 15 | 60% | 55% | 30 | 90% | 90% | |
| Notes: The sum of all survival benefits already paid will be deducted from this surrender value. | ||||||
Add-ons
- Hospi Cash Rider:
Hospital Cash Rider offers you a fixed amount benefit for each day of hospitalisation either in a normal room or in the Intensive care unit (ICU).
Exclusions
If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of issuance of the Policy, the Policy shall be void and the Company will only be liable to pay the premiums paid till date.
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 Aajeevan Sampatti Plus 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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