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
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Parameter
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Minimum
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Maximum
|
|
Sum Assured (in Rs.)
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20 times the Annualized Premium
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|
Policy Term (in years)
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10
|
20
|
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Premium Payment Term (in years)
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Regular Premium
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|
Lock-in period
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5 years
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|
Entry Age of Policyholder
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18
|
60
|
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Age at Maturity
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28
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70 years for 10 year term
75 years for 15 year term
80 year for 20 year term
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Regular premium
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Rs 18000 for 10 and 15 years term
Rs 12000 for 20 years term
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No Limit
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|
Single premium
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NA
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NA
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|
Payment modes
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Yearly, Half-Yearly, Quarterly and Monthly
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|
Top-up premium
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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
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.
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
