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Bharti AXA Life Elite Advantage Plan

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Bharti AXA Life Elite Advantage Plan

Bharti AXA Life Elite Advantage is a traditional non-linked, non-participating, endowment plan that offers guaranteed pay-outs of 8.5% to 9.5%  from the end of the policy term and 100% Sum Assured at Maturity. It also provides life insurance cover, to take care of uncertainties of life. 

 

How does the plan works

Policy Holder pays premium for the chosen Premium Payment Term. At the end of Policy Term, the Maturity Benefit Period will start during which Guaranteed Pay-outs will be paid from the end of the Policy Term until the end of the 19th year. At the end of the 20th year, 100% of the Sum Assured on Maturity will be paid to the Policyholder.
Benefits Illustrated with an example below:
Mohan, age 35, purchases Bharti AXA Life Elite Advantage Plan and pays Rs. 1, 00,000 as annualised Premium. He chooses a Policy Term and Premium Paying term of 12 years, his Sum Assured as per his age is Rs.12, 29,256. 

Benefit

Pay out (in Rs.)

Sum Assured on Maturity (paid at the end of 20th year)

12,29,256

Guaranteed Pay-out (9.5% of Maturity Sum Assured)

1,16,779 (paid annually)

Guaranteed Pay-out – at the end of 12th policy year until the end of 19th policy year
Needs met:
1. He will receive the maturity benefit in regular instalments from the end of the policy term until the end of the 19th year. These pay-outs could serve as a second income and also help in paying his children’s school expenses.
2. The lump sum amount that he will receive at the end of the 20th year could be used for his children’s higher education expenses. 
3. In case of the unfortunate event of his death before the maturity of the policy, his family will get higher of 100% of Sum Assured or 105% of the Premiums paid or 11 times the Annualised Base Premium.

 

Key Features of Bharti AXA Life Elite Advantage Plan

  • Guaranteed Pay-out - 8.5% to 9.5% from the end of the policy term and 100% Sum Assured at Maturity
  • Sum Assured - 100% of Sum Assured on Maturity is paid at the end of 20th year from the Policy Date.
  • Flexible Premium Paying Term – 5,7, and 12 years
  • Tax benefits -  under Section 80C and 10(10D) as per Income Tax Act
 
COMPARE THIS PLAN WITH OTHER ENDOWMENT PLANS

 

Benefits you get from Bharti AXA Life Elite Advantage Plan

Death Benefit - In case of the unfortunate event of death of the Life Insured during the Policy Term, the higher of the following benefits will be payable to the Nominee
  • Sum Assured on Maturity, or
  • 11 times Annualised Premium, or 
  • 105% of all premiums paid 
Maturity Benefit - In case the Life Insured survives till the maturity of the Policy, then the benefits, as mentioned below, will be payable to the Policyholder. 
  • Guaranteed Pay-out - A percentage of Sum Assured on Maturity is paid during the Maturity Pay-out Period. 
  • Sum Assured - 100% of Sum Assured on Maturity is paid at the end of 20th year.



Eligibility conditions & other restrictions for Guaranteed/Maturity pay-out in Bharti AXA Life Elite Advantage Plan

Guaranteed Pay-out - The percentage of Guaranteed Pay-out depends upon the Policy Term, Premium Payment Term and the Premium Amount as mentioned below:

Policy Term

( in years)

Premium Paying Term (in years)

Guaranteed Pay-out (end of the year)

Annual Premium (in Rs.)

Guaranteed pay out as a % of sum assured on maturity

Guaranteed pay out frequency

10

5

10 - 19

24,000-49,999

8.5%

Annual,

Semi-Annual,

Quarterly

50,000-99,999

9.%

1,00,000 and above

9.5%

12

7

12 - 19

15,000-49,999

8.5%

50,000-99,999

9.%

1,00,000 and above

9.5%

12

12

12 - 19

12,000-49,999

8.5%

50,000-99,999

9.%

1,00,000 and above

9.5%


Maturity Pay-out Period - The Maturity pay-out Period is a period post the Policy Term when the guaranteed pay-outs as shown in the table above and the Sum Assured at Maturity are paid. This is dependent on the Policy Term as shown below:

Policy Term (in years)

Maturity Pay-out (end of the year)

10

end of 10th year till the end of 20th year

12

end of 12th year till the end of 20th year

 

Eligibility conditions & other restrictions in Bharti AXA Life Elite Advantage Plan

Particulars

Minimum

Maximum

Entry Age

8 years for 10 year Policy Term

6 years for 12 year Policy Term

65

Maturity Age

-

75 years for 10 year Policy Term

77 years for 12 year Policy Term

Sum Assured

Depends on the minimum premium

Premium (in Rs.)

24,000 for 5 year Premium Payment Term

15,000 for 7 year Premium Payment Term

12,000 for 12 year Premium Payment Term

Policy Term

10 and 12 year

Premium Payment Term

5 years for 10 year Policy Term

7/12 years for 12 year Policy Term

Premium Payment Modes

Annual, Semi-Annual, Quarterly*, Monthly*

* Through Auto Pay only

 

Additional Features and Benefits of Bharti AXA Life Elite Advantage Plan

Riders Bharti AXA Life Hospi Cash Rider, to boost your protection, viz;

Reduced Paid up – If the premium is paid for at least 3 years then the policy will be converted to “paid up”. In this case, the accumulated money will be paid on death, maturity or surrender, whichever is earlier.

Free look – In case you are not convinced with Terms and Conditions of the policy, you can cancel the same within 15 days of receipt of the policy document.
 

Plan Details

Let's Understand The Plan With An Example:

35 year old Mohan chooses our Bharti AXA Life Elite Advantage to meet his future expenses such as his daughter’s higher education, marriage expenses etc., for a Sum Assured of Rs.12,29,256. He pays an annual premium of Rs.1,00,000 for 12 years.


What happens if?

You stop paying the premium – If the policy holder does not pay the premium within 30 days after the premium due date, then the policy will lapse. 

You want to surrender the policy – There are Surrender Benefits in this plan is at least 3 annual premiums have been paid. Minimum Guaranteed Surrender Value= % of sum of premiums paid.

You want a loan against your policy – Loan facility is available under this policy.
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