Bharti Axa Aajeevan Sampatti

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Bharti AXA Life Aajeevan Sampatti Plan

 

Bharti AXA Life Aajeevan Sampatti Plan is a Participating Whole Life Limited Pay Life Insurance Plan. 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.

 

How it works – In this plan, premium needs to be paid for 10 or 15 years as selected at the time of policy inception and the coverage continues till 100 years of age.

 

In this plan, 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.

 

There are guaranteed Survival Benefits in this plan as well. After completion of 10 policy years, 5.5% of the Sum Assured is paid every year to the Life Insured until Maturity or Death, whichever is earlier.

 

This policy has an additional Premium Waiver rider.

 

 

Key Features of Bharti AXA Life Aajeevan Sampatti Insurance Plan

 

  • 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
  • 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 6 policy years until maturity or death, whichever is earlier.
  • This policy provides discount for higher Sum Assured
  • There is Premium Waived Rider available with this plan as an additional benefit.

 

 

Benefits you get from Bharti AXA Life Aajeevan Sampatti Insurance Policy

 

Death Benefit – In case of death of the Life Insured, the nominee gets the entire Sum Assured + the accrued Cash Bonus as Death Benefit and the policy terminates.

 

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.

 

Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C

 

 

Eligibility conditions & other restrictions in Bharti AXA Life Aajeevan Sampatti Plan

 

 

Minimum

Maximum

Sum Assured (in Rs.)

1,00,000

No Limit

Policy Term (in years)

10

20

Premium Payment Term (in years)

Equal to Policy Term

Entry Age of Life Insured (in years)

91 days

60

Age at Maturity (in years)

-

100

Premium (in Rs.)

15,379 for PPT=10

9,100 for PPT=15

No Limit

Payment modes

Yearly, Half-Yearly. Quarterly and Monthly

 

                               

Sample illustration of premium amount in Bharti AXA Life Aajeevan Sampatti Plan

 

The below illustration is for a healthy Male (non-tobacco user) opting for Sum Assured = Rs. 5, 10 and 25 lacs and Premium Paying Term = 15 years for Age = 35 years and 45 years old male respectively.

The premium shown is the base premium.

Bharti Axa Life Aajeevan Sampatti Plan Sample Premiums

 

 

Additional Features and Benefits of Bharti AXA Life Aajeevan Sampatti Plan

 

Riders – There is 1 additional rider available with this plan:

  • Premium Waiver Benefit

 

 

What happens if?

 

You stop paying the premium - If the policy holder stops paying the premium, then all benefits of the policy will cease after the expiry of the grace period of the unpaid premium due date. The Policy continues in a Paid Up state. However, it can be revived within 5 policy years from the date of first unpaid premium.

 

You want to surrender the policy – There are Surrender Benefits under this term plan after premiums have been paid for first three policy years.

Guaranteed Surrender Value= 30% of all premiums paid – 1st years’ premium

 

You want a loan against your policy – Loan facility is not available under this policy.

 

 

Alternate Endowment Plans from different insurance companies

 

Aviva Dhan Vriddhi

Kotak Endowment Plan

Tata AIG Maha Life Guarantee

 

 

Other Endowment Plans from Bharti AXA Life Insurance

 

Bharti AXA Life Monthly Income Plan

Bharti AXA Life Young India Plan

 

Compare Endowment Plans

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