Bharti AXA Life Secure Savings Plan

Key Features

• It is a non-participating plan with limited and regular premium payment option
• Guaranteed Additions increase the corpus

Benefits

• Guaranteed Additions are paid every year as a % of cumulative premiums paid and depend on the term and premium amount
• On maturity, the basic SA along with the aggregate Guaranteed Additions, is paid to the policyholder
• On death of the policyholder , higher of the basic SA plus Guaranteed Additions till date or 10 times the annual premiums or 105% of premiums paid till death 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:

Details About Premium

Annual premium in Rupees for a term of 20 years

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 if one 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 Guaranteed Additions

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

• Discount in premium for premiums of Rs. 1 lakh and above
• Bharti AXA Life Hospi Cash Rider is available under the plan

Exclusions

• In case of suicide committed within 12 months of policy inception only 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.