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Bharti AXA Life Super Series is a non par, Money back plan that provides a lump sum payout on completion of the premium payment term along with increasing guaranteed payouts until maturity and a lump sum payout at Maturity. This plan also provides the life insurance cover that ensures financial security for your family, even in your absence.
2 plan variants can be opted under this plan:
In the event of death of the life insured during the policy term, the Sum Assured on Death which is higher of 105% of all the premiums paid, Sum Assured on Maturity, or multiple of annualized premium. Here, multiple is 11/15 times for Super 6/Super 10 Option repectively.
On survival of the life insured till maturity of the policy, Sum Assured on Maturity is payable, provided the policy being in-force. On the date of maturity, an additional payout as Guaranteed Maturity Addition 30% of the ‘Sum Assured on Maturity’is also payable.
Guaranteed Money Back
A percentage of ‘Sum Assured on Maturity’ is payable and it starts after the end of Premium Payment Term. The payouts are available as specified under the table.
No bonus is applicable as it is a non participating plan.
The loan amount can be availed up to 70% of the acquired Surrender Value.
This policy acquires Surrender Value after paying at least two/three full policy years’ premium, in case of premium payment term of 6 years/10 years respectively. The Surrender Value payable is higher of Guaranteed Surrender Value or Special Surrender Value less survival benefits already paid.
This policy provides tax benefits for premiums paid under section 80C and the benefits received under section 10 (10D) of the Income Tax Act, subject to amendment in tax laws.
|Age (as on last birthday)||6 Years (for Super 6), 0 Years (for Super 10)||63 Years (for Super 6), 60 Years (for Super 10)|
|Age at Maturity||-||75 Years (for Super 6), 80 Years (for Super 10)|
|Policy Tenure||12 Years (for Super 6), 20 Years (for Super 10)||-|
|Premium Paying Term||6 Years (for Super 6), 10 Years (for Super 10)||-|
|Premium Paying Mode||Annually, Semi Annually, Quarterly & Monthly||-|
|Annual Premium||Rs 18000 (for Super 6), Rs 15000 (for Super 10)||No Limit|
|Sum Assured on Maturity||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||-|
Following riders can be opted, on payment of additional rider premium.
Sahil is 35 years of age, wants to buy Bharti AXA Life Super Series Plan to get regular money backs along with life protection. He opts the plan with super 10 option with the policy term of 20 years, premium paying term of 10 years, sum assured on maturity is Rs 2,00,000 and annualized premium of Rs 48,598.
Scenario A: Sahil Survives the Policy Term
If Sahil survives till the maturity of the policy term, he receives Rs 1,00,000 as the first payout under guaranteed money back benefits and it continues for the next 10 years. He will also receive a lump sum amount of Rs 2,60,000 as maturity benefit.
Scenario B: Sahil dies during the Term of the Policy
In the event of demise of Sahil during the policy term, the Sum Assured on Death is payable to the nominee. The death benefit provides financial cover for the nominee/family.