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Bharti Axa Life secure savings plan is a non linked, non participating life insurance plan. This plan is framed to help you save regularly and endow you to manage every important milestone of your life with confidence by offering guaranteed additions on your savings. This plan also provides you with an insurance cover which act as a safety net to keep your loved ones financially protected.
Get QuoteDeath Benefit
In case of an unfortunate event of death of the Life Insured during the Policy Term, get higher of (Base Sum Assured plus Guaranteed additions on premiums paid or 10 times the base annualized Premium or 105% of premiums), in case of an unfortunate event of death of the life insured.
Maturity Benefit
If the Life Insured survives the policy term and all the premiums are duly paid, the life insured will receive 100% of your sum assured with accrued Guaranteed Additions.
Guaranteed Addition
The Guaranteed Additions will enhance your maturity proceeds. The Guaranteed Addition is calculated as a percentage of each year’s cumulative base annual premium. Percentage of Guaranteed Additions varies with premium band and policy term chosen. These Guaranteed Additions are paid out either on death of the life insured or on maturity of the policy, whichever happens first.
Bonus
This plan is a non participating plan and is not eligible for any bonus.
Loan Benefit
Loan benefit is not available under this plan.
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.
Tax Benefit
The plan offers tax benefits under section 80C and section 10 (10D) of the Income Tax Act,1961.
| Factor | Minimum | Maximum |
| Age (as on last birthday) | 3 Years (for 15 Year Policy Term) 0 Years(for 20 Year Policy Term) | 55 Years (for 15 Year Policy Term) 50 Years (for 20 Year Policy Term) |
| Age at Maturity | - | 70 Years |
| Policy Tenure | 15 Years | 20 Years |
| Premium Paying Term | Same As Policy Term | - |
| Premium Paying Mode | Annually,Semi Annually, Quarterly And Monthly | - |
| Premium Amount | Rs 18,000 (for 15 Year Policy Term) Rs 12,000 (for 20 Year Policy Term) | - |
| 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) | - |
| Plan Type | Offline | - |
Following riders are available with this plan
Let us understand the plan with the example of Mohan.
He purchases Bharti AXA Life Secure Savings Plan and invests Rs 20,000 as annual premium. He chooses a policy term of 20 years. Assuming that Saurabh is in good health, his sum assured as per his age is Rs 2,35,073.
Mohan will receive the maturity benefit when his kid requires it for her higher education In case of an unfortunate event of his death before maturity of the policy,his family will get higher of Sum Assured or 105% of the Premiums paid, plus guaranteed additions on the premiums paid.
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