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Bharti AXA Life Future Invest Plan

Overview

Bharti AXA Life Future Invest is a 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

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: 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

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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