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  • Bharti AXA Life Future Invest Plan

    Overview

    Bharti AXA Life Future Invest is a unit-linked insurance plan that offer protection against life’s uncertainties while ensuring that your money grows steadily. The policy provides benefits for 10 years while premium payment is to be done by customers only for the first 5 years. Bharti AXA Life Future Invest is aimed at helping you derive the most out of your insurance scheme. Since the scheme is invested in the share market, the policy offers 6 fund choices for customers to choose from. The policy also offers liquidity benefit to policyholders after a certain term of policy has been completed.

    Eligibility Criteria for Bharti AXA Life Future Invest:

    Listed below are the minimum and maximum entry age for the Bharti AXA Life Future Invest

    Age at entry, Minimum

    18 years

    Age at entry, Maximum

    59 years

    Maximum Maturity Age

    69 years



    Key Features of Bharti AXA Life Future Invest

    The table below depicts some of the key features of the Bharti AXA Life Future Invest.

    Plan type

    Non-Participating unit-linked plan.

    Plan basis

    Individual

    Premium paying terms

    5 years

    Policy term

    10 years

    Premium payment Mode

    Yearly, Half-yearly, Quarterly and Monthly

    Where, Quarterly and Monthly payments can only be made through ECS



    Grace period

    30 days from the expected date of payment of premium (for yearly, half-yearly and quarterly modes)

    15 days from the expected date of premium payment for monthly mode

    Free Look Period

    15 days from the date of availing the policy



    Policy revival

    In case you miss payment of premium even after the grace period has lapsed, then you will receive a notice asking you to either immediately pay the premium amount and revive the policy or wait out for the full 2 years within which the policy can be revived or to opt out from the policy and lose the existing protection. Either of these cases are taken forward depending upon the request placed by policyholder

    Nomination

    Nomination facility is available under section 39 of the Insurance Act, 1938

    Sum Assured

    In case of single pay:

    Sum assured is 125% of single premium

    In case of 5 year pay:

    Sum assured is Higher of 10 times Annualized Premium Or (0.5*Policy Term*annual premium)

    Policy coverage

    Death benefits and maturity benefits.

    Death Benefits: In case of death of the policyholder, higher of the three listed below is paid to the beneficiary:

    1. Sum assured applicable

    2. 105% of all premiums paid

    3. Policy Fund Value at that point in time

    Maturity Benefits:

    Maturity benefit depends upon the policy fund value at the time of maturity. One out of the following three options can be chosen by policyholders as maturity benefit.

    1. Lump-sum amount of the policy fund value at that point in time
    2. Withdrawal of policy fund value at regular intervals as chosen by the policyholder at the time of policy inception
    3. A combination of the above two options

    Discontinuation of premium

    Any discontinuation needs to be intimated to Bharti AXA and decision regarding surrender or revival of policy needs to be made within 2 years from the inception of policy

    Surrender of Policy

    Two conditions arise:

    1. Surrender the policy before completion of lock-in period: Current fund value less discontinuance charges are paid out to policyholder
    2. Surrender the policy after completion of lock-in period: Current fund value is paid out to policyholder

    Charges Applicable

    1. Premium Allocation Charges: Nil
    2. Mortality Charges: Depends on entry age and sum assured
    3. Discontinuance Charges: Depends on fund value and premium payment term
    4. Fund Management Charges: Depends upon the type of fund availed out of the 6 available options

    Name of Fund

    Management Charges

    Grow Money Plus Fund

    1.35% p.a.

    Growth Opportunities Plus Fund

    1.35% p.a.

    Build India Fund

    1.35% p.a.

    Save’n’grow Money Fund

    1.25% p.a.

    Steady Money Fund

    1.00% p.a.

    Safe Money Fund

    1.00% p.a.

    Discontinued Policy Fund

    0.50% p.a.

    1. Policy Administration Charges:

    Policy Year

    5 year payment term

    Single premium term

    1 - 5

    0.5%

    0.2%

    5 +

    0.5%

    0%

    Benefits/Advantages of Bharti AXA Life Future Invest

    Bharti AXA Life Future Invest offers some great advantages to policyholders. Listed below are a few of these benefits.

    • Tax benefits: Tax benefits can be availed for premiums paid towards Bharti AXA Life Future Invest
    • Limited premium Payment: The benefits of this policy last for 10 years while premium payment term is either 5 years or single pay
    • Choice of investment funds: Bharti AXA Life Future Invest offers 6 different funds to customers, to choose from.
    • Extended fund investment period: Policyholders can choose to stay invested in their funds for an extended 5 year period even after maturity.
    • Partial Withdrawal as well as liquidity benefits: Option to avail partial withdrawal facility once the policy completes 5 years.

    How Does the Bharti AXA Life Future Invest Work

    Bharti AXA Life Future Invest offers protection as well as capital growth via investment funds to customers. The Bharti AXA Life Future Invest offers 6 different investment options to customers to choose from. Let us look into each of these plans.

    Fund Name

    Objective

    Asset Allocation

    Risk-Return Profile

    Growth Opportunities Plus Fund

    Investment across all market size stocks, large, mid and small in order to diversify and achieve long-term capital appreciation. It is a high-risk, high-return fund option.

    Equities: 80% - 100%, Cash & Money Market Instruments: 0% - 40%

    High

    Grow Money Plus Fund

    This investment fund too invests in companies across all sectors and sizes. This fund is suitable for policyholders with a high risk appetite and for those who are looking to reap greater benefits.

    Equities: 80% - 100%, Cash & Money Market Instruments: 0% - 40%

    High

    Build India Fund

    Majorly invests in infrastructure stocks and aims to provide long-term capital appreciation.

    Equities: 80% - 100%; Corporate Bonds and Bank deposits: 0% to 20%; Cash & Money Market Instruments: 0% -20%

    High

    Save’n’Grow Money Fund

    A moderate risk fund that invests majorly in debt and money market instruments and a certain percentage of funds in equity. The fund aims to achieve medium to long term capital appreciation.

    Listed Equities: 0% - 60%, Corporate bonds and Bank Deposits: 0% - 50%, Government bonds and securities: 0% - 40%, Cash & Money Market Instruments: 0% - 40%

    Moderate

    Steady Money Fund

    A low risk fund option that invests in corporate bonds and government securities in order to offer a steady growth of income to the policyholder.

    Corporate bonds and Bank Deposits: 20% - 80%, Government bonds and securities: 40% - 60%, Cash & Money Market Instruments -0% - 40%

    Low

    Safe Money Fund

    This fund basically invests in money market and debt instruments and offers low-risk capital appreciation with maturity of 1 year or less

    Corporate bonds and Bank Deposits: 0% - 60%, Government bonds and securities: 40% - 60%, Cash & Money Market Instruments -0% - 40%

    Low

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