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Bharti AXA Life Family Income Secure Plan

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This plan has been withdrawn by the insurance company and is no longer available for sale.

 

Bharti AXA Life Family Income Secure Plan

 

Bharti AXA Life Family Income Secure Plan is a Life Insurance Plan for protection purpose with both Death and Maturity Benefit. This is a Traditional Plan without Bonus facility which can be purchased online.

 

In this plan, premium needs to be paid till the end of the Policy Term as selected by the Policyholder. The Annual Income needs to be selected at the Policy Inception.

 

In this plan, the premiums are returned at the end of the policy tenure as Maturity Benefit. However, if the Life Insured dies within the Policy Tenure, then the nominee gets Life Insurance Benefit. Under this benefit option, the nominee would get the Annual Income, as chosen at the policy inception, for the next 20 years. Along with Life Insurance Benefit, the nominee would also get Maturity Benefit at the end of the Policy Tenure.

 

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Key Features of Bharti AXA Life Family Income Secure Insurance Plan

 

 
  • It is a Life Insurance Protection Plan with both Death Benefit and Maturity Benefit
  • This policy can be purchased online
  • Premium needs to be paid till the end of the Policy Tenure
  • 100% of the premiums are returned when the policy ends as Maturity Benefit as Cash Back Facility
  • Annual Income for 20 years is paid as Death Benefit if the Life Insured dies within the Policy Tenure irrespective of the policy term
  • Death Benefit = Life Insurance Benefit of Annual Income Payment for 20 Years + Maturity Benefit at the end of the policy tenure
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Benefits you get from Bharti AXA Life Family Income Secure Insurance Policy

 

Death Benefit – In case of death of the Life Insured, the nominee gets the Annual Income as selected at the policy inception, as Death Benefit under the plan and keeps receiving the same for the next 20 years irrespective of the Policy Tenure chosen.

 

Maturity Benefit – The premiums are returned as Maturity Benefit under this plan.

 

Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C

 

 

Eligibility conditions & other restrictions in Bharti AXA Life Family Income Secure Policy

 

 

Minimum

Maximum

Annual Income (in Rs.)

Not specified

Not Specified

Policy Term (in years)

10

20

Premium Payment Term (in years)

Equal to Policy Term

Entry Age of Policyholder (in years)

18

60

Age at Maturity (in years)

-

70 for PT=10

75 for PT=15

80 for PT=20

Premium (in Rs.)

2,500 for Annual Mode

1300 for semi - annual mode

675 for Quarterly mode and 225 for monthly mode

No Limit

Payment modes

Yearly, Half-Yearly. Quarterly and Monthly

 

                               

Sample illustration of premium amount in Bharti AXA Life Family Income Secure Plan

 

The below illustration is for a healthy Male (non-tobacco user) opting for an Annual Income = Rs. 1.5 lacs and Policy Term = 20 years

 

Bharti AXA Life Family Income  Secure Insurance Plan Sample Premiums

 

 

Additional Features and Benefits of Bharti AXA Life Family Income Secure Plan

 

Riders – There are no additional riders available with this plan

 

 

What happens if?

 

You stop paying the premium - If the policy holder stops paying the premium, then all benefits of the policy will cease after the expiry of the grace period of the unpaid premium due date.

 

You want to surrender the policy – There are Surrender Benefits under this term plan after premiums have been paid for first three policy years.

Guaranteed Surrender Value= 30% of all premiums paid – 1st years’ premium

 

You want a loan against your policy – Loan facility is not available under this policy.



 

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