Bharti AXA Life Future Invest Insurance 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 Plan
§ 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 Insurance Plan
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Minimum
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Maximum
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Sum Assured (in Rs.)
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For Age 18 to 44 = 10 x Annual Premium
For Age 45 to 70 = 7 x Annual Premium
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Policy Term (in years)
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10
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Premium Payment Term (in years)
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5
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Premium (in Rs.)
Payable only through ECS
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Annual - 18,000
Half yearly - 9,000
Quarterly - 4,500
Monthly - 1,500
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-
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Entry Age of Policyholder (in years)
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18
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70
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Age at Maturity
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-
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80
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Payment modes
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Yearly, Half-Yearly, Quarterly and Monthly
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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
Build India Fund
Grow Money Plus Fund
Growth Opportunities Plus Fund
Safe Money Fund
Save 'n' Grow Money Fund
Steady Money Fund
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
Bharti Axa Life WealthOne
