Bharti AXA Future Invest

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Bharti AXA Life Future Invest Plan

 

Future Invest is a Unit-linked insurance plan (Ulip) for a fixed term of 10 years where you have to pay premiums for only 5 years. This is a market-linked plan which invests the premiums paid by you towards building your fund. Future Invest is a Ulip with ZERO Premium Allocation charges. 

 

You pay premium for 5 years and the plan continues for 10 years. On maturity you get back the fund value. You also get the option to keep the corpus invested for up to 5 years after maturity.


 

Key Features of Bharti AXA Life Future Invest Insurance Plan

 

  • ZERO Premium Allocation Charges
  • Pay premium for 5 years and accrue benefits for 10 years
  • Advantage to keep the funds invested for another 5 years after maturity
  • In-built Accidental Death Benefit (Incase of Option B)
  • Partial withdrawal facility gives you flexibility to withdraw money anytime after 5 years
  • Tax Benefits
  • 2 Life Insurance Benefit Options to choose from:
    • Higher of the Fund Value or Sum Assured
    • Sum Assured + Fund Value

 

Benefits you get from Bharti AXA Life Future Invest Insurance Plan

 

Death Benefit – There are 2 Options to choose from – Option A and Option B. In case of an unfortunate death of the life insured during the 10 year of Policy Benefit period, the nomine gets the money as per the details below.

In Option A: Higher of Sum Assured (net of partial withdrawals, made within 12 months prior to death of the life insured) OR the Policy Fund Value at that point in time is payable.

In Option B: Sum Assured + Fund Value

 

Maturity Benefit – The Fund Value as on maturity date is payable

 

Income Tax Benefit - Premiums paid towards Life Insurance policies up to Rs.1,00,000 are allowed as a deduction from the taxable income each year under section 80C. Maturity amounts are also exempt from tax as per Sec 10(10D).

 

 

Applicable Charges in Bharti AXA Life Future Invest Insurance Policy

 

  • Premium Allocation charges: Zero
  • Policy administration charges: 0.50% of annual premium subject to a maximum of Rs.6000
  • Accidental Death Benefit charges (Only in Option B):  Re.1 per Rs.1000 per annum
  • Discontinuance charges: Levied at the time of surrender or on discontinuance of premium
  • Fund Management charges: 1% to 1.35% per annum
  • Mortality charges

 

 

Eligibility conditions of Bharti AXA Life Future Invest Policy

 

 

Minimum

Maximum

Sum Assured (in Rs.)

For Age 18 to 44 = 10 x Annual Premium

For Age 45 to 70 = 7 x Annual Premium

Policy Term (in years)

10

Premium Payment Term (in years)

5

Premium (in Rs.)

Payable only through ECS

Annual - 18,000
Half yearly - 9,000

Quarterly - 4,500

Monthly - 1,500

Entry Age of Policyholder (in years)

18

70

Age at Maturity

-

80

Payment modes

Yearly, Half-Yearly, Quarterly and Monthly

 

 

Sample illustration of premium of Bharti AXA Life Future Invest Insurance Plan

 

Premium = Rs.50,000 per annum

Age = 35 years

Policy Term = 10 years

Premium Paying Term = 5 years

Fund Value = Rs.4,09,560 at an assumed rate of 10% per annum and Rs.2,96,701 at an assumed rate of 6% per annum


 

Additional Features and Benefits of Bharti AXA Life Future Invest Insurance Plan

 

Investment Fund Options: 6 options to choose from

  1. Build India Fund
  2. Grow Money Plus Fund
  3. Growth Opportunities Plus Fund
  4. Safe Money Fund
  5. Save 'n' Grow Money Fund
  6. Steady Money Fund

 

 
Charges in Bharti AXA Life Future Invest Insurance Plan
 
Premium Allocation Charge – This charge is deducted from the Premium Paid by you

Policy Year
Premium Allocation Charge
Every Year
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
Each Year
0.50% of annual premium subject to a maximum of Rs.6000

 
 
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

 
 
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.

 

 

Alternate ULIP plans from different insurance companies

 

AEGON Religare iMaximize

Tata AIG Invest Assure Gold Supreme

 

 

Other ULIP plans from Bharti AXA Life Insurance

 

Bharti AXA Life True Wealth

Download Bharti AXA Future Invest Brochure download
~ By Rupanjali Mitra Basu
Note: This is a statement of facts based on the information collected from the Bharti AXA Future Invest brochure and insurance company's website. It should not be construed as a Critical or Favourable Bharti AXA Future Invest Review, Analysis or Recommendation.
Insurance is a subject matter of the solicitation.


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By Anil Kumar on Feb 25, 2012 Reply

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