Bharti AXA Life Aajeevan Sampatti - Aajeevan Sampatti Plus Plan

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Bharti AXA Aajeevan Sampatti Plus Overview

Bharti AXA Aajeevan Sampatti Plan is a traditional Whole Life plan covering the policyholder till age 100 thereby securing the protection need of the policyholder. The plan also provides annual Payouts to take care of everyday needs

Bharti AXA Aajeevan Sampatti Policy Key Features

  • This plan is a participating traditional Whole life plan with limited premium payment term.
  • The individual is covered up to age 100 or 85  years.
  • Guaranteed Annual Payouts from the completion of 10th policy year depending on the policy term.
  • Non-guaranteed cash bonuses from the 6th policy year further increase the corpus.

Benefits of Aajeevan Sampatti Plan

  • On death higher of the SA on Maturity or 11 times the annual premium subject to 105% of all premiums paid is payable
  • On maturity, the basic Sum Assured is paid
  • Guaranteed Annual payouts @ 5.5% of SA for coverage till 100 years and 6% of SA for coverage till 85 years is paid from the 10th policy year till maturity or death whichever is earlier
  • Income tax benefit under Sections 80C and 10(10D) for premiums paid and claims received respectively

Bharti AXA Aajeevan Sampatti Plan Specification:

 

Minimum

Maximum

Entry Age (Last Birthday)

91 days

60 for coverage till 100

50 for coverage till 85

Maturity Age (Last Birthday)

-

100 or 85 years

Policy Term (PT) in years

100 or 85 – Entry Age

Premium Paying Term (PPT) in years

10 and 15

Premium Paying Frequency

Annual, Half-yearly, quarterly, monthly

Yearly Premium

Depends on SA, term and PPT

Sum Assured

50,000

No limit

 

Details About Premium

Annual premium in Rupees and benefit illustration

Age

30 years

Premium

107,310

Sum Assured

500,000

Cumulative Guaranteed Payouts till age 100 years including Maturity Benefit

21,50,000

Cumulative bonus till age 100 @ 4%

178,750

Cumulative bonus till age 100 @ 8%

22,75,000

 

Aajeevan Sampatti Policy Details

Grace Period: 30 days’ grace period is allowed for premium payment in all modes

Policy Termination or Surrender Benefit: the policy can be surrendered anytime if one full years’ premium has been paid. The Surrender value will be higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV)

GSV = % of all Premiums paid

Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Inclusions in Aajeevan Sampatti Plan by Bharti AXA 

  • The policy provides loan facility of up to 70% of the Surrender value

Additional Features or Riders

  • Hospi Cash Rider is available under the plan
  • High Sum Assured discounts for higher coverages of 400,000 and above

Exclusions in Aajeevan Sampatti Plus Plan by Bharti AXA 

  • In case of suicide within 12 months from inception, total premiums paid is returned and within 12 months of revival, higher of 80% of total premiums paid or acquired Surrender Value is paid to the nominee

Documents Required For Aajeevan Sampatti Plus Plan

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.