Bharti AXA Life Invest Once insurance scheme is a great insurance product that ensures not just standard savings but also offers protection against unforeseen events like death of the policyholder.
Today’s lifestyle demands more out of each and every aspect of life. The same holds true for financial matters too. When looking for a suitable financial product, customers want not only an instrument that will ensure regular savings but also one that would offer optimum capital growth.
Not just that, you can also avail tax benefits on this scheme which makes it a truly holistic financial product. Bharti AXA Life Invest Once is non-participating, non-linked, single premium endowment plan.
Listed below are the minimum and maximum entry age for the Bharti AXA Life Invest Once.
Minimum Entry Age | Maximum Entry Age | Maximum Maturity Age |
8 years for policy term 10 years 13 years for policy term 5 years | 55 years | 60 years for policy term 5 years 65 years for policy term 10 years |
Listed below are some of the most important features of Bharti AXA Life Invest Once:
The table below depicts the key features of the SBI Life Smart Guaranteed Savings Plan.
Plan type | Non-Participating Non-unit-linked endowment insurance plan. |
Plan basis | Individual |
Premium paying terms | Single Premium |
Policy term | 5 years and 10 years |
Premium payment Mode | Yearly |
Grace period | 30 days from the expected date of payment of premium |
Free Look Period | 15 days from the date of availing the policy |
Nomination | Nomination facility is available under section 39 of the Insurance Act, 1938 |
Minimum Sum Assured | Minimum sum assured depends upon the minimum premium paid by policyholder |
Policy coverage | Death benefits and maturity benefits. Death Benefits: In the event of death of the policyholder, the higher of below three will be paid to the customer -
or 110% of single premium plus mortality premium (for policyholders aged above 45 years at the time of policy inception) Maturity Benefits: In the event of survival of the policyholder beyond the policy term, maturity benefit equal to 100% of the premium paid till maturity plus guaranteed additions accrued shall be payable to the policyholder |
Minimum Annual Base Premium Amount | Rs.5000 per annum |
Maximum Annual Base Premium Amount | No Limit |
Guaranteed Additions as a % of Base Single Premium | 7% for 5 year term 9% for 10 years term |
Bharti AXA Life Invest Once offers some unique features and benefits to its customers.
Bharti AXA Life Invest Once is a single premium endowment plan that requires you to pay a one-time premium and then enjoy death and maturity benefits throughout the policy term. The scheme also offers you the option to enhance your life cover by paying an extra premium amount over and above your regular insurance premium. This extra amount is known as mortality premium and is dependent upon your age and the policy term.
GST of 18% is applicable on life insurance effective from the 1st of July, 2017
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