Bharti AXA Future Invest
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
ZERO Premium Allocation Charges
Pay a premium for 5 years and accrue benefits for 10 years
The advantage to keep the funds invested for another 5 years after maturity
In-built Accidental Death Benefit (Incase of Option B)
A partial withdrawal facility gives you the flexibility to withdraw money anytime after 5 years
2 Life Insurance Benefits Options to choose from:
- Higher of the Fund Value or Sum Assured
- Sum Assured + Fund Value
- 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
Build India Fund
Grow Money Plus Fund
Growth Opportunities Plus Fund
Safe Money Fund
Save 'n' Grow Money Fund
Steady Money Fund
Policy Year
|
Premium Allocation Charge
|
Every Year
|
NIL
|
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
|
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%
|
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
|
Example 1:
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
Example 2:
35 year old Anurag chooses our Bharti AXA Life Future Invest and would like to invest in the Grow Money Fund. He chooses a policy term of 10 years with a premium payment term of 5 years for a Sum Assured of Rs.5,00,000.
Example 3:
35 year old Rishab chooses our Bharti AXA Life Future Invest and would like to invest in the Grow Money Fund. He chooses a policy term of 10 years with a single premium payment for a Sum Assured of Rs.3,75,000.
Benefits
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
The Fund Value as on maturity date is payable
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).
Eligibility
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 |