Bharti AXA Life Secure Income Plan is a traditional non-participating savings plan with regular monthly incomes to take care of the additional expenses and also life insurance coverage for protection purposes
|
Policy term |
Death Benefit |
|
15 years & 17 years |
Higher of SA + accrued Guaranteed Additions or 11 times Annual Premium or 105% of all premiums paid till death |
|
20 years |
Higher of SA + accrued Guaranteed Additions or 13 times Annual Premium or 105% of all premiums paid till death |
|
|
Minimum |
Maximum |
|
Entry Age (Last Birthday) |
0 years |
65 years |
|
Maturity Age (Last Birthday) |
- |
80 years |
|
Policy Term (PT) in years |
15, 17 or 20 |
|
|
Premium Paying Term (PPT) in years |
5, 7 or 10 respectively |
|
|
Premium Paying Frequency |
Annual, half-yearly, quarterly, monthly |
|
|
Yearly Premium |
18,000 |
No limit |
|
Sum Assured |
Depends on the premium chosen |
|
Annual premium in Rupees for a policy term of 20 years and PPT 10 years
|
Age |
30 years |
|
Premium |
50,000 |
|
Sum Assured |
311,061 |
|
Guaranteed Income from 11th year |
24,885 every year |
|
Aggregate Guaranteed Additions payable on Maturity |
311,061 |
|
Maturity Benefit |
622,122 |
|
Death Benefit |
650,000 |
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 / 3 years’ premiums has been paid. The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value.
GSV = GSV Factor * annual premiums less the Guaranteed Monthly Income already received
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.
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.
