Bharti Axa Life Bright Stars Edge

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Bharti AXA Life Bright Stars Edge Plan

 

This is a regular premium Unit Linked Insurance Plan (ULIP). The overall charges too are reasonable compared to other similar plans in the market. This Child Plan can be considered as a long term investment tool for securing your child’s future needs.

 

 

Key Features of Bharti AXA Life Bright Stars Edge

 

§  20 times the Premium is provided as Sum Assured

§  6 Fund Options for Investment

 

 

Benefits you get from Bharti AXA Life Bright Stars Edge

 

Death Benefit – In case of death of the policy holder, the nominee gets Sum Assured + Fund Value.

 

Maturity Benefit - If the policy holder survives the policy term, then the policyholder gets the Fund Value.

 

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.

The maturity amount you receive from this plan are exempt from tax under section 10(10D)

 

 

Eligibility Conditions for Bharti Axa Life Bright Star EDGE

 

Parameter

Minimum

Maximum

Sum Assured (in Rs.)

20 times the Annualized Premium

Policy Term (in years)

10

20

Premium Payment Term (in years)

Regular Premium

Lock-in period

5 years

Entry Age of Policyholder

18

60

Age at Maturity

28

70 years for 10 year term

75 years for 15 year term

80 year for 20 year term

Regular premium

Rs 18000 for 10 and 15 years term

Rs 12000 for 20 years term

No Limit

Single premium

NA

NA

Payment modes

Yearly, Half-Yearly, Quarterly and Monthly

Top-up premium

NA

NA

       

 

 

Sample illustration of Bharti AXA Life Bright Stars Edge Returns

 

Age                         = 30 years old

Premium               = Rs.25,000

Policy Term          = 20 years

Total Investment  = Rs. 25,000 x 20 years = Rs.5,00,000

Returns from Bharti Axa Life Bright Stars EDGE

 

 

Additional Features and Benefits of Bharti AXA Life Bright Stars Edge

 

Riders – There are no riders available under this policy

 

Investment Fund Options – Under this plan the policy holder gets the following fund options:

1.     Growth Opportunities Plus Fund

2.     Grow Money Plus Fund

3.     Build India Fund

4.     Save ‘n’ Grow Money Fund

5.     Steady Money Fund

6.     Safe Money Fund

 

Top-up – No top-ups are allowed in this policy.

 

Switching - You have the flexibility to switch investments from one fund to the other any time during the policy term. The minimum switching amount should be Rs.1,000 and there are 12 free switches available each year.

 

Partial Withdrawal - You are allowed to make partial withdrawals in this policy after 5 complete policy years. The minimum amount of partial withdrawal should be Rs.1,000 provided at least 120% of the annualized premium remains in the fund value. You are allowed to make 2 free partial withdrawals each year.

 
Charges in Bharti AXA Bright Stars EDGE Plan
 
Premium Allocation Charge – This charge is deducted from the Premium Paid by you

Policy Year
Premium Allocation Charge
1st
8%
2nd to 12th 
5.5%
13th year onwards
NIL

 
 
Policy Administration Charge— This is the charge for the administrative working of the policy and is deducted by cancellation of units on a monthly basis.

Policy Year
Policy Administration Charge
1st to 5th
NIL
6th year onwards
0.18% of Annual Premium upto a max of Rs 5000 p.a.

 
 
Fund Management Charge– This charge is deducted by adjusting the NAV of the units on a daily basis.

Type
Charge
Growth Opportunities Plus Fund
1.35%
Grow Money Plus Fund
1.35%
Build India Fund
1.35%
Save‘n’Grow Money Fund
1.25%
Steady Money Fund
1.00%
Safe Money Fund
1.00%

 
 
Discontinuation Charge— This charge is for discontinuing the plan before the end of the Policy Tenure.

Year of Discontinuation
Annual Premium <= Rs 25,000 p.a.
Annual Premium > Rs 25,000 p.a.
1st
Lower of 20% of (Annual Premium or Fund Value) subject to a maximum of Rs 3,000
Lower of 6% of (Annual Premium or Fund Value) subject to a maximum of Rs 6,000
2nd
Lower of 15% of (Annual Premium or Fund Value) subject to a maximum of Rs 2,000
Lower of 4% of (Annual Premium or Fund Value) subject to a maximum of Rs 5,000
3rd
Lower of 10% of (Annual Premium or Fund Value) subject to a maximum of Rs 1,500
Lower of 3% of (Annual Premium or Fund Value) subject to a maximum of Rs 4,000
4th
Lower of 5% of (Annual Premium or Fund Value) subject to a maximum of Rs 1,000
Lower of 2% of (Annual Premium or Fund Value) subject to a maximum of Rs 2,000
5th onwards
NIL
NIL

 
 
Mortality Charge — This charge is paid for the Life Coverage provided according to the Sum At Risk. This is based on the mortality rates which are specified for all ages and amount of cover being provided.
 

Service Tax would be applicable on the charges depending on the applicable rates. 

 

What happens if?

 

You stop paying the premium before 5 years – If the policy holder stops paying the premium, then the accumulated policy fund amount shall be paid to the policy holder after the fifth policy year. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee.

 

You stop paying the premium after 5 years - If the policy holder stops paying the premium after 5 years, then the accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will terminate immediately.

 

You want to surrender the policy – The policy can be surrendered from the 6th (sixth) policy year. The surrender value will be equal to the fund value of all the premiums paid.

 

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

 

 

Alternate ULIPs from different insurance companies

 

HDFC SL Crest

ICICI Prudential LifeTime Premier

Kotak Wealth Insurance

SBI Smart Performer

 

 

Other investment plans from Bharti AXA Life Insurance

 

Bharti AXA Life True Wealth

 

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