Bharti AXA Life ULIP Plans

Bharti AXA Life Insurance is an insurance company which is formed between Bharti Enterprises, the Indian counterpart which has multiple businesses in India including telecom, agriculture, retail and financial services and AXA Group, the foreign counterpart. The insurance company was established in December 2006 and has been working tirelessly ever since its inception. The company has a dedicated work force which is taking the company to heights by increasing its market position. Today, the company offers a range of attractive insurance plans which cater to every need of the individual whether it is for protection or for capital appreciation and also for retirement.

What are ULIPs?

Unit Linked Insurance Plans (ULIPs) are insurance plans which provide dual benefits of insurance and investment bundled in one. The plans work like a mutual fund where investment of the money is in capital markets for higher growth potential. The market value of the total corpus invested in the market in a variety of investments divided by the total securities boughtdetermine the Net Asset Value (NAV) which per unit price. The number of units credited to the policyholder depends on the premium amountpaid and the prevailing NAV as on that date. The plan has some basic features which are detailed below:

• Thepremium paid by the policyholder is invested in a fund which will be the policyholder’s choice according to his risk profile. If he can take high risks he should invest in an Equity Fund and if he does not want to take risks, he should invest in Debt funds.
• The premium paid is subject to various charges which include administrative charges, mortality charges, fund management charges, etc. and the net premium is available for investment.
• The Sum Assured is a multiple of the premium paid
• Premiums paid are locked in for 5 years during which no withdrawal is allowed. After the lock-in period, money can be withdrawn partially without plan termination
• Funds can be changed if the investment strategy changes under the Switching Option.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Bharti AXA Life ULIP Plans

Bharti AXA Life Insurance Company currently offers two types of ULIP plans. Below are the types of ULIP Plans sold by the company and their features and benefits

Bharti AXA Life Future Invest Plan

It is a unit linked insurance plan which promises good returns through market participation and also the benefit of life insurance protection. The plan has the following features and benefits:

• Premiums can be paid for a limited termor in one lump sum through the Single Pay option of paying premiums
• After deducting the charges, the net premiums are invested in a fund as per the policyholder’s choice. There is a choice of 6 funds to choose from which are:

• The plan tenure is fixed at 10 years and if the premium is paid for a limited tenure, the fixed tenure for premium payment is 5 years
• The Fund Value is the maturity benefit which may be taken in lump sum or availed in instalments over 5 years after the maturity datethrough the Settlement Option feature under the plan.
• If the insured dies during the tenure of the plan, higher of the chosen Sum Assured deducting partial withdrawals made prior to death or 105% of the total premiums paid till the date of death or the Fund Value available on the date of death is paid to the nominee
• Partial withdrawals are allowed under the plan of which 2 annual withdrawals are free and the minimum amount of withdrawal to be made is Rs.1000
• Switching is allowed to change between the chosen funds of which 12 free switches are allowed every year
• Premium redirection option is also available to redirect future premiums into another fund than that which was originally selected.
• The plan has no premium allocation charges.
• Premiums paid are exempt from tax under Section 80C and the claim received is also tax-free under Section 10(10D).

Eligibility Details

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Bharti AXA Life eFuture Invest–

Another unit linked insurance plan which is available through the website of the company. The plan has the following features and benefits:

• It is an online Term Plan which can be bought online lowering the premium and avoiding the hassles of unnecessary paperwork
• The policyholder can pay the premiums for a limited tenure of in one lump sum at the starting of the plan.
• The premiums paid after adjusting the applicable charges are invested in a choice of fund chosen by the policyholder. The company provides a choice of 6 funds to choose from which are:

• The tenure of the plan is fixed at 10 years and if the premium is paid for a limited tenure, the fixed tenure for premium payment is 5 years
• The total Fund Value is payable on maturity which may be taken in lump sum or availed in instalments after maturity within 5 years under the Settlement Option feature under the plan.
• In case of death within the term of the plan, higher of the chosen Sum Assured less any partial withdrawals made 12 months prior to death or 105% of the total premiums paid till the date of death or the available Fund Value is paid to the nominee
• Partial withdrawals are allowed under the plan of which 2 annual withdrawals are free and the minimum amount of withdrawal to be made is Rs.1000
• Switching is allowed to change between the chosen funds of which 12 free switches are allowed every year
• Premium redirection option is also available to redirect future premiums into another fund than that which was originally selected.
• The plan has no premium allocation charges.
• Tax benefit is applicable on the premium paid under Section 80C and on the claim received under Section 10(10D).

Eligibility Details