Bharti AXA Life Monthly Income Plan+

Bharti AXA Life Monthly Income Plan+ Plan is a traditional participating savings plan with regular monthly incomes which provides a steady inflow of cash every month with life insurance cover for protecting the family against unforeseen emergencies

  • Peaceful Post-Retirement Life

  • Tax Free Regular Income

  • Wealth Generation to beat Inflation

Invest ₹6,000/month & Get Tax-Free* Monthly Pension of ₹60,000#
Get the best returns & make the most of your golden years
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Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs
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7.7 Crore
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4.2 Crore
Policies Sold
Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Key Features

  • It is a participating plan with limited premium payment option
  • Guaranteed Monthly Income is paid every month after the completion of the premium payment term
  • Non-guaranteed bonuses accrue form the end of the first policy year itself

Benefits

  • On maturity, accrued reversionary bonuses and Terminal Bonus, if any, is paid
  • On death of the policyholder higher of the SA on death + accrued reversionary bonuses and Terminal Bonus if any or 105% of all premiums paid till death is payable
  • The SA on death will be the higher of 165% or 150% of SA for policy term of 15 years, 140% of SA for a term of 20 years and 110% of SA for a term of 30 years or 10 times the annual premium
  • The death benefit will be paid on a monthly basis or can be withdrawn in lump sum after discounting it @ 8%
  • 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:

 

Minimum

Maximum

Entry Age (Last Birthday)

0 years

65 years

Maturity Age (Last Birthday)

-

80 years

Policy Term (PT) in years

15, 20 or 30

Premium Paying Term (PPT) in years

 7 or 10 or 15 respectively

Premium Paying Frequency

Annual, half-yearly, quarterly, monthly

Yearly Premium

Depends on the monthly income chosen

Sum Assured

135,000

No limit

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Details About Premium

Annual premium in Rupees for a policy term of 15 years and PPT 7 years

Age

35 years

Monthly Income in case of survival

3000

Monthly Income after death

4950

Annual Premium

35,715

Vested Bonuses @ 4%

9504

Vested Bonuses @ 8%

80,784

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 if at least one years’ premium 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 paid + GSV of accrued 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

  • Discount in premium for choosing higher monthly incomes of Rs.3000 and above
  • Bharti AXA Life Hospi Cash Rider is available under the plan

Inclusions

  • A loan of a maximum of 70% of the Surrender Value 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.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Secure Your Retirement Today
Start Investing ₹6,000/month
Get Pension ₹60,000/month+
Including Life Cover
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Pension Plan 1
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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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