Bharti AXA Life Insurance Company launched 2 new plans – “Wonder Years Retirement Plan” and “Bright Stars Plus”.
Wonder Years Retirement Plan: As the name suggests this plan is designed to take care of an individual’s retirement years. The plan offers guaranteed retirement amounts, life insurance benefits, and bonuses (if declared, starting from 1st policy year).
No medical examination or declaration of health status is required. At the time of purchasing the policy, an individual can choose between the ‘vesting age at 60 years’ or ‘vesting term of 10 years’. For the ‘vesting at 60’ option the age criteria is 18 – 45 years with a minimum annual premium of Rs 12,000. For the ‘10 year vesting term’, the minimum and maximum entry age are 40 – 70 years and the premium starts at Rs 20,000 per year. Read our expert review of ‘Bharti AXA – Wonder Years Retirement Plan’
Bright Stars Plus: This is a regular premium Unit-linked Child plan allowing the policyholder to plan and invest in market-linked funds while providing a protection benefit during the policy term. In case of the death of the policyholder, the sum assured is paid out immediately to the family. All future premiums are paid by the company and the policy continues till the end of the policy tenure, and the fund value and Jumpstart bonus are paid on maturity.
The plan offers 12 free switches and a choice of six fund options. On long-term investments, the company offers a jumpstart benefit as a percentage of the average policy fund value. In case of a financial crisis, the plan allows the policyholder to decrease the premium amount anytime after 2 years. The minimum entry age is 18 years and policy terms available are 7 years, 10 years, 15 years, 20 years, and 25 years. Read our complete review of ‘Bharti AXA – Bright Stars Plus’
Commenting on the launch, Mark Meehan, Chief Marketing & Operations Officer said that Bright Stars Power Plus combines the benefits of 3 of their best-in-class products – Bharti AXA Life Family Income Secure, Bharti AXA Life Bright Stars Edge and Bharti AXA Life Premium Waiver rider. He also added that Wonder Years Retirement Plan is a traditional participating product that provides financial independence by combining guaranteed retirement payouts and bonuses.
