Bharti AXA Life Samriddhi Plan
Bharti AXA Life Samriddhi Plan is a traditional participating Endowment Assurance plan to build a corpus through regular savings thereby taking care of the family’s future needs and requirements
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Save Upto ₹46,800 in tax under Sec 80C
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Inbuilt Life Cover
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Tax Free Returns Unlike FD
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
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Investment Plan
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Bharti AXA Life Investment Plans
- Bharti AXA Life Samriddhi Plan
Key Features
- It is a participating plan with limited and regular premium payment option
- Simple reversionary bonuses and Terminal Bonus increase the corpus
Benefits
- On maturity, the basic SA along with the aggregate simple reversionary bonuses and Terminal Bonus, if any, is paid to the policyholder
- On death of the policyholder , higher of the basic SA on Maturity including Simple reversionary bonuses and Terminal Bonus, if any, or 11 times the annual premiums subject to a minimum of 105% of premiums paid is payable
- Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.
Product Specification:
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Minimum |
Maximum |
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Entry Age (Last Birthday) |
0 years |
55 years |
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Maturity Age (Last Birthday) |
65 years |
80 years |
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Policy Term (PT) in years |
10 |
Limited pay – 20 Regular pay - 35 |
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Premium Paying Term (PPT) in years |
Limited pay - 5 |
Limited pay – 12 Regular pay – equal to policy term |
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Premium Paying Frequency |
Annual, half-yearly, quarterly, monthly |
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Yearly Premium |
3000 |
No limit |
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Sum Assured |
Depends on the premium chosen |
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Details About Premium
Annual premium in Rupees
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Age |
35 years |
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Premium |
25,000 |
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Sum Assured |
698,129 |
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Simple reversionary Bonus +Terminal Bonus @ 4% |
172,787 |
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Simple Reversionary Bonus + terminal Bonus @ 8% |
681,548 |
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Maturity Benefit @ 4% |
870,916 |
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Maturity Benefit @ 8% |
13,79,677 |
Policy Details
Grace Period: 30 days’ grace period is allowed for premium payment in all modes. If policyholder fails to make payment within the grace period, the policy lapses
Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 2 or 3 full years’ premiums has been paid. The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value.
GSV = GSV Factor * cumulative annual premiums paid including the GSV of Simple Annual Reversionary bonuses
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.
Additional Features or Riders
- The following riders are available under the plan:
- Bharti AXA Life Hospi Cash Rider
- Bharti AXA Life Premium Waiver Rider
Exclusions
- In case of suicide committed within 12 months of policy inception only 80% of premiums paid are returned to the nominee. In case of suicide within 12 months of revival, higher of 80% of premiums paid or acquired Surrender Value is paid
Documents Required
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.
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