Bharti AXA Life Insurance Annuity Plan

What is a Bharti AXA Life Insurance Annuity Plan?

Bharti AXA Life Insurance Annuity Plan is a retirement-income financial product that converts a lump-sum payment into regular payouts monthly, quarterly, half-yearly, or annually.

As an investor, you can opt for:

• Lump-sum payment (immediate annuity): Pay the purchase price once and start receiving income immediately.
• Regular premium payments (deferred annuity/pension accumulation): Pay premiums over a chosen term, accumulate, then commence income later.

In exchange, Bharti AXA offers:

• Guaranteed periodic payouts for the annuitant's life (or joint-life, depending on the option chosen).
• Options include “Return of Purchase Price,” where, on the annuitant's death (or the last survivor in joint life), the full purchase price is returned to the nominee/legal heir.
• Different frequencies of payout (monthly, quarterly, half-yearly, yearly) to suit individual cash-flow needs.

Types of Bharti AXA Life Insurance Annuity Plans

Bharti AXA Life Insurance provides comprehensive annuity plans crafted to secure regular income and long-term financial comfort during retirement. Here's a quick overview of the different types of annuities available with Bharti AXA Life Insurance:

• Bharti AXA Life Saral Pension: The Bharti AXA Life Saral Pension offers an immediate, guaranteed income for life in exchange for a single premium. Customers can choose between single or joint-life coverage and select their preferred payout frequency.
• Bharti AXA Life Swabhimaan Retirement Plan: Bharti AXA Life Swabhimaan Retirement Plan emphasises financial independence during retirement by combining deferred annuity benefits with steady savings growth. Policyholders may opt for Return of Purchase Price or Step-up options, depending on the plan variant.

Bharti AXA Life Saral Pension Plan

The Bharti AXA Life Saral Pension Plan is a non-linked, non-participating, individual immediate annuity plan that provides guaranteed fixed income for your entire life after retirement. The pension plan offers two options: Single Life with Return of Purchase Price and Joint Life Last Survivor with Return of Purchase Price, ensuring continued income and return of purchase price to the nominee.

Key Features of Bharti AXA Life Saral Pension Plan

Sample Illustration – Bharti AXA Life Saral Pension (Monthly Payout)

Here's an example of the annual and monthly annuity amounts payable under the Single Life (with Return of 100% Purchase Price) option for a purchase price of ₹8,00,000 across different entry ages:

Note: The annuity amount depends on the annuitant's age, option chosen, and prevailing annuity rates. Figures shown are for illustration only and exclude applicable taxes.

Bharti AXA Life Swabhimaan Retirement Plan

The Swabhimaan Retirement Plan is a non-linked, non-participating individual deferred annuity product designed to secure a guaranteed and regular income after retirement. The plan allows you to lock annuity rates at current levels for guaranteed lifelong income. It offers eight annuity options, multiple deferment periods, and flexible payout frequencies. Liquidity is available through the Atmanirbhar Option, and premiums qualify for tax benefits under prevailing laws.

Key Features of Bharti AXA Life Swabhimaan Retirement Plan

Sample Illustration – Bharti AXA Life Swabhimaan Retirement Plan (Annual Payout)

Here's how the annual annuity payout may look based on the purchase premium, deferment period, and annuity option chosen.

Note: All figures are for illustration purposes only. Actual annuity amounts vary based on age, deferment period, and annuity type.

Key Takeaways

Bharti AXA Life Insurance Annuity Plans offer guaranteed lifelong income through a one-time premium payment. Policyholders can choose between single-life or joint-life annuity options. Under return-of-premium variants, nominees receive the purchase price back after the annuitant's lifetime. The annuity plans allow flexible monthly, quarterly, half-yearly, or yearly payout frequencies to suit income needs. It accepts entries from 40 to 80 years and ensures minimum annuities of ₹1,000 per month, ₹3,000 per quarter, ₹6,000 per half-year, or ₹12,000 per year. It provides a reliable retirement income solution with assured payouts and protection of purchase price (as per plan option).