Bharti AXA New Endowment Plan

• Reduce taxable income by up to Rs. 1,50,000 deduction under section 80C**
• Convenient payment options - annual, half-yearly, quarterly or monthly premium payments
• Do more with plans that offer pure protection, retirement planning and investment options

Bharti AXA Life endowment plans are designed to cater to the needs of policyholders who are looking to receive a profit from their policies in addition to their life insurance coverage. Endowment plans offered by Bharti AXA Life provide policyholders with the chance to receive a lump sum amount on maturity of the policy, or in the unfortunate event of the death of the policyholder during the policy term, the nominees will receive a lump sum (death benefit).

Benefits of Bharti AXA Life Endowment Plans:

The features and benefits of a Bharti AXA Life Endowment Plan are as follows:

• Flexibility: The policy allows policyholders to withdraw the savings from the plan at any time during the flexi benefit period.
• Bonuses: The policy provides for non-guaranteed simple reversionary bonuses as well as a terminal bonus, which are payable at the end of the policy term or on the death of the policyholder.

The new endowment plan offering by Bharti AXA Life is the Bharti AXA Life Flexi Save Plan.

Bharti AXA Life Flexi Save:

This is a traditional, limited pay participating life insurance policy that offers policyholders a savings withdrawal option as well as other benefits such as a maturity benefit.

Features and benefits of Bharti AXA Life Flexi Save:

• Choice of premium payment term: Policyholders can choose their premium payment term as well as policy term based on what they are most comfortable with. The policy has three policy and corresponding premium terms, which are as follows:

• Additional bonuses: The policy offers policyholders the opportunity to earn more through non-guaranteed bonuses. The non-guaranteed simple reversionary bonus and terminal bonus can both be declared, with both payable at the end of the policy or at the demise of the policyholder.
• Maturity benefit: If the policyholder survives past the policy term, 100% of the sum assured is paid out along with any non-guaranteed bonus and terminal bonus.
• Death Benefit: In the event of the policyholder’s demise during the policy term, the nominee/nominees stand to receive either 105% of the premiums paid or the base sum assured amount or a combination of the annual base premium.
• Policy term flexibility: This policy has a flexi benefit period, during which time the policyholder can choose to bring forward the maturity benefit.
• Loans under policy: The policy offers policyholders the opportunity to take out a loan against the policy. This is valid only once the policy had achieved surrender value, and the loan amount can be up to 70% of the surrender value.

Why should you opt for Bharti AXA Life Endowment Plans?

Bharti AXA Life Endowment Plans offer policyholders a comprehensive range of coverage as well as add-ons that provide complete protection. In addition to the ease of accessibility and high claim settlement ratio, there are a host of tax benefits that can also be availed, which are as follows:

• Amounts paid towards premium are exempt from tax under Section 80C of the Income Tax Act.
• Income from life insurance policies such as the maturity benefit, bonuses and death benefit are exempt from tax.

An endowment plan is also a prudent way to provide for one’s family in the event of unforeseen circumstances as they offer a host of benefits in addition to basic life cover, thereby enhancing savings.