Bharti AXA Life Family Income Secure Plan
Bharti AXA Life Family Income Secure Plan is a Life Insurance Plan for protection purposes with both Death and Maturity Benefit. This is a Traditional Plan without a Bonus facility which can be purchased online.
In this plan, the 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 Benefits, the nominee would also get Maturity Benefit at the end of the Policy Tenure.
Key Features
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
Benefits
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.
The premiums are returned as Maturity Benefits under this plan.
Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C
There are no additional riders available with this plan
Eligibility
| 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 |
|
FAQs
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.
What happens if You want to surrender the policy?There are Surrender Benefits under this term plan after premiums have been paid for first three policy years.
What happens if Guaranteed Surrender Value?30% of all premiums paid – 1st years’ premium
What happens if You want a loan against your policy?Loan facility is not available under this policy.
