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Bharti AXA Life Future Invest Plan

The Bharti AXA Life Future Invest Plan is a unit-linked plan that ensures that a policyholder benefits the most from the insurance policy. This plan is a market-linked plan that invests the premium amount paid towards building your fund amount without levying any additional allocation charges. Benefits are provided for a period of 10 years during the first 5 years of the premium payment period. Some of the important advantages of this plan are:

  • Life Insurance Benefit
  • Limited Premium Payment
  • Fund Options
  • Zero Allocation Charge
  • Liquidity Benefit with Partial Withdrawal
  • Extendable Investment Period or Settlement Period
  • Tax benefits

Eligibility – Who is the Bharti AXA Life Future Invest Plan for?

An individual will have to meet the eligibility criteria listed below to avail the Bharti AXA Life Future Invest Plan:

Parameters Details
Minimum Age at Entry 18 years (As of last birthday)
Maximum Age of Entry 59 years (As of last birthday)
Maturity Age 69 years (As of last birthday)

Sum Assured and Premium Range – What you get and what is costs?

Sum Assured

The sum assured is based completely on the premiums that you will be required to pay to avail the benefits of the policy. The sum assured for Bharti AXA Life Future Invest Plan is listed below:

Parameters Details
Sum Assured for a Single Pay Premium Payment Term 125% of Single Premium
Sum Assured for a 5 year Premium Payment Term The higher value between (0.5*Annualized Premium*Policy Term) or 10 times the Annualized Premium

Premiums*

Premiums are paid to the insurer to purchase a policy from them so that the individual can come under the umbrella of benefits and coverage that this plan has to offer. The premiums that a policyholder will have to pay towards a Bharti AXA Life Future Invest Plan are listed below:

Parameters Details
Minimum Premium
  • Premium Payment Term of 5 years:
  • Monthly: Rs1,500
  • Quarterly: Rs.4,500
  • Half-Yearly: Rs.9,000
  • Yearly: Rs.18,000
  • Premium Payment Term of Single Pay is Rs.50,000
Modes of Premium Payment
  • Monthly
  • Quarterly
  • Half-Yearly
  • Yearly
Premium Payment Term Single Pay and 5 years
Policy Benefit Period 10 years

*Premiums paid vary based on age, location, plan term and other factors

Premiums for a Bharti AXA Life Future Invest Plan can be made using any of the following ways:

  • Using payment gateways or internet banking
  • Payment in cash at the insurer’s branch office
  • ECS/Direct Debit/Salary Deduction Scheme
  • With a cheque or demand draft
  • Through the use of debit or credit cards

Plan Coverage – What the Bharti AXA Life Future Invest Plan covers?

The Bharti AXA Life Future Invest Plan offers a number of different benefits and these are listed in the table below:

Parameters Details
Death Benefits The Death Benefit that is paid is the higher value among the following:
  • 105% of the Premiums that have been paid up to the time of death of the policyholder
  • Fund Value of the policy at the time of death of the policyholder
  • Sum Assured
Tax Benefits As per the prevailing tax laws
Maturity Benefits At the time of maturity of the policy, the policyholder will be entitled to make a choice among the following options to make a claim for the maturity benefit:
  • Lump sum amount of the Policy Fund Value
  • Policyholder can choose to withdraw the maturity benefit at regular intervals which has been chosen during the settlement period by the policyholder
Investment Fund Options A policyholder can opt to choose any of the following investment options depending on his/her financial objectives:
  • Growth Opportunities Plus Fund SFIN: ULIF01614/12/2009EGRWTHOPPL130
  • Save’n’Grow Money Fund SFIN: ULIF00121/08/2006BSAVENGROW130
  • Grow Money Plus Fund SFIN: ULIF01214/12/2009EGROMONYPL130
  • Build India Fund SFIN ULIF01909/02/2010EBUILDINDA130
  • Safe Money Fund SFIN: ULIF01007/07/2009LSAFEMONEY130
  • Steady Money Fund SFIN: ULIF00321/08/2006DSTDYMOENY130
Partial Withdrawals Plus Liquidity Benefit The policyholder can opt for partial withdrawals when situations arise where you require an immediate capital. These withdrawals are made from the Fund Value. Partials withdrawals can be made for a minimum of Rs.1,000 and the Fund Value cannot be lesser than 120% of the annualized premium after making these withdrawals.
Switch and Premium Redirection You can manage your plan and asset allocation between debt and equity depending on your needs and requirements. A policyholder is granted 12 switches in policy year and these will not be charged. Minimum investment cannot be lesser than 5% in any allocated fund.
Settlement Period Settlement Period is a maximum of 5 years and this begins from the Maturity Date and this option is available to the policyholder.

Exclusions – What the Bharti AXA Life Future Invest Plan doesn’t cover?

If the policyholder commits suicide within a year from the date of commencement of the policy or revival date, whether the policyholder is sane or insane at the time of death, the nominee or beneficiary of the policy shall not be entitled to any payout. If there are any premiums that were paid after the death of the policyholder, the company shall pay back the same to the beneficiary or nominee of the policy.

Other Key Benefits of Bharti AXA Life Future Invest Plan:

Parameters Details
Free Look Period In case the policyholder is not satisfied with the “Terms and Conditions” of the policy, a 15 day period is provided where the insured can return the policy back to the insurer. The company will return any premiums that were made during this period after deducting any expenses incurred by the insurer such as stamp duty charges, medical expenses, etc.
Grace Period (Applicable for premium payment period of 5 years) A grace period of 15 days is provided for monthly mode from the due date of making a premium payment so that the policyholder can clear his/her dues. A time period of 30 days is provided for other modes of premium payment. If the policyholder fails to make the premium payments within the grace period, the policy will lapse.
Revival of a Policy The application for the revival of a policy should be submitted within 30 days from the date of your last unpaid premium. This is applicable for premiums that have been paid for a period of 5 years.
Surrender of a Policy A policyholder is entitled to surrender a policy but within the lock-in period. In this case the Fund Value, after deducting the discontinuance charges from it, will be credited to the Discontinued Policy Fund. This fund will be payable to the policyholder after the completion of 5 policy years. Once the policy has been surrendered, the policy shall be terminated.
Surrender Value After a policy has been surrendered and payment completion term of 5 years has been reached, the Surrender Value, which is the Fund Value, will be payable to the policyholder.
Nomination Nomination is allowed as per the existing tax laws under Section 39 of the Insurance Act, 1938.
Assignment Assignment is allowed as per the prevailing tax laws under Section 38 of the Insurance Act, 1938.

Tax Benefits – How you can save with the Bharti AXA Life Future Invest Plan?

A policyholder can enjoy tax benefits on any premium that is paid towards Bharti AXA Life Future Invest Plan under the prevailing tax laws under Section 80C and for monthly income received by the policyholder under 10(10D) of the Income Tax Act, 1961. Tax benefits are subject to changes without prior notice so it is important that the policyholder consults a Tax Advisor to stay informed about any changes made.

Other Benefits - How you can save with the Bharti AXA Life Future Invest Plan?

Listed below are the benefits that you can avail by choosing the Bharti AXA Life Future Invest Plan:

  • Get policy updates through SMSes
  • Manage the policy online
  • Contact the customer care through various avenues
  • You can ask for an advisor to guide you
  • Register and track claims easily online
  • Download brochures and policy bonds online
  • Download brochures and policy bonds online
  • Get a quote easily online for your insurance policy
  • Pay premiums online
  • Get coverage for your entire family

Why you should buy the Future Invest Plan offered by the Bharti AXA General Insurance Company Ltd?

The inception of Bharti AXA dates back to 2006. The insurance provider has grown to be a leader and preferred company for financial protection and wealth management in the country. Bharti AXA Life Insurance has a wide range of insurance products and wealth management services in its portfolio. The company operates on a strong foundation of values such as pragmatism, integrity, professionalism innovation, and team spirit. Individuals can also avail a number of other benefits such as hassle-free claims process, availing an advisor, round the clock customer care service and state of the art technology. Individuals can also purchase plans online by visiting the Bharti AXA Life website.

With the Bharti AXA Life Future Invest Plan, a policyholder can be in a state of peace knowing that his/her family is protected in case the policyholder meets with his/her untimely demise. The Future Invest Plan offered by the Bharti AXA General Insurance Company Ltd. provides a number of interesting and attractive features like zero allocation charges and a number of tax benefits.