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Bharti AXA Life Secure Income Plan is a traditional non-participating limited pay life insurance plan. The plan helps you to provide a guaranteed monthly income along with life protection in case of an insured event. This plan acts as a second source of monthly income which enables you to fulfill the financial objective. In an unfortunate event with this plan you can be assured that your family maintains their same lifestyle.BUY NOW
In case of the unfortunate death of the Life Insured, the nominee gets the Death Benefit which is as defined below for different Policy terms.
If the Life Insured survives the policy term and all the premiums are duly paid, the life insured will receive the following as maturity benefit which depends on the policy term option chosen.
Guaranteed Monthly Income
Guaranteed Monthly Income will start after the completion of the Premium Payment Term, until Maturity, provided the policy is in force and all due premiums have been paid. This income will be tax-free subject to the prevailing provisions of section 10(10D) of the Income-tax Act, 1961.
This plan is a non participating plan and is not eligible for any bonus.
Loan benefit is available under this plan. The maximum loan amount taken can be 70% of the Surrender Value.
The policy will gain surrender value if three annual premiums are paid. The minimum guaranteed surrender value under the policy is 30% of all premiums paid till date, excluding the first years’ premium and any extra premium paid. No surrender value is payable if life insured discontinue in first three policy years.
The plan offers tax benefits under section 80C and section 10 (10D) of the Income Tax Act,1961.
|Age (as on last birthday)||3 Years (for 15 Year Policy Term) 1 Year (for 17 Year Policy Term) 0 Years(for 20 Year Policy Term)||65 Years (for 15 Year Policy Term) 63 Years (for 17 Year Policy Term) 50 Years (for 20 Year Policy Term)|
|Age at Maturity||-||80 Years|
|Policy Tenure||15/17 Years||20 Years|
|Premium Paying Term||5, 7 And 10 Years For 15, 17 And 20 Years Policy Term Respectively||-|
|Premium Paying Mode||Annually,Semi Annually, Quarterly And Monthly||-|
|Premium Amount||For 15 Years Policy Term • Rs 30,000 For Annual Mode • Rs 15,600 For Semi-Annual Mode • Rs 8,100 For Quarterly Mode • Rs 2,700 For Monthly Mode For 17 Years Policy Term • Rs 24,000 For Annual Mode • Rs 12,480 For Semi-Annual Mode • Rs 6,480 For Quarterly Mode • Rs 2,160 For Monthly Mode For 20 Years Policy Term • Rs 18,000 For Annual Mode • Rs 9,360 For Semi-Annual Mode • Rs 4,860 For Quarterly Mode • Rs 1,620 For Monthly Mode||-|
|Sum Assured||Depends On The Minimum Premium||-|
|Freelook Period||15 Days/ 30 Days (for Distance Marketing Channel) From The Receipt Of The Policy||-|
|Grace Period||30 Days & 15 Days (for Monthly Mode)||-|
Following rider is available with this plan
Let us understand the plan with the example of Gaurav
Benefits under Bharti AXA Life Secure Income Plan: