Securing your child's future is now completely in your hands
A traditional participating savings plan with an in-built Premium waiver benefit that offers you the flexibility to choose between 2 Maturity benefits – Money back and Endowment – depending on the needs and career goals of your child.
Choose between pay-out options that are based on your child's needs – Money back or Endowment.
a.)With the Money back option, you will get guaranteed pay-outs in the last 5 years before Maturity to meet your child's education needs. At Maturity you will get guaranteed Maturity pay-out for your child's higher education and career needs. b.) With the Endowment option you will get a guaranteed lump sum amount at Maturity, provided the Policy is in force, to help meet your child's dream.
Built-in Premium waiver benefit ensures that your child's needs will be taken care of.
If something unfortunate were to happen to the parent (Life Insured) the future Premiums are waived off while all the benefits in the policy continue.
Flexibility to choose your Policy Term – between 11 and 21 years.
Based on your child's age, you can choose a Policy Term between 11 to 21 years. Also choose the Premium payment type –'limited pay' where the Premium payment term is 5 years lesser than the Policy Term or 'regular pay' where the Premium payment term is equal to Policy Term.
Potential upside with bonus.
Non-guaranteed annual simple reversionary bonus gets accrued to the policy at the end of each year provided all due Premiums are paid and is payable at Maturity. The company may also declare non-guaranteed terminal bonus that will be also be payable at Maturity.
Let's take a look at this case study
35 year old Karan has a 2 year old son Sahil, he chooses our Bharti AXA Life Child Advantage with Money Back option for a Sum Assured of `18,74,414. He pays an annual premium of `1,00,000 p.a. for 20 years.
Starts paying an annual premium* of `1,00,000
Starts receiving guaranteed pay-outs of
`1,87,441 each year
Then he receives guaranteed pay-outs of
`2,81,162 each year
Next he receives guaranteed pay-out of
While Karan still continues paying an annual premium of `1,00,000 throughout the entire premium payment term of 20 years
He also receives a lump sum maturity benefit of `19,86,879(Guaranteed `7,49,766 + accumulated bonus @8% p.a. `12,37,113)
Accumulated Bonuses @4% p.a.: `4,53,608
Total Maturity Benefit @4%# p.a.: `12,03,374
Total Benefits @4%# p.a.: `25,15,464
*Premium is exclusive of service tax
#4% and 8% rates of investment returns are used only for illustration purposes and are not guaranteed.
In case of Karan's untimely demise, before the 20th Policy year, his son will receive `20,61,856 as life insurance benefit and all the future premiums will be waived off. Additionally, his son will receive all the remaining guaranteed pay-outs and lump sum maturity benefits.
WHO CAN BUY?
|Premium Type||Regular Pay||Limited Pay|
|Policy Term||11 to 21 years||11 to 21 years|
|Premium Payment Term||Same as Policy Term||Policy Term minus 5 years|
|Minimum age at entry (age last birthday)||18 Years||18 years|
|Maximum age at entry (age last birthday)||50 years||55 years|
|Maximum Maturity Age (age last birthday)||71 years for Regular pay||76 years for Limited pay|
|Minimum Sum Assured||` 25,000|
|Minimum Annualized Premium||Depends on the Minimum Sum Assured|
|Premium Payment Modes||Annual, Semi annual, Quarterly*, Monthly*|
As parents, you take care to plan your child's future. You want to give them the best and nothing less. But life is unpredictable. An unfortunate event could cast a shadow on your child's future; you need to be ready for every eventuality.
At Bharti AXA Life, we understand your needs and have decided to act. We bring you Bharti AXA Life Child Advantage. A child plan that offers you guaranteed payouts at key milestones and waives off all future premiums in case of an unfortunate event. Thus ensuring that your child's dreams are never compromised.Along with this, you get the benefits of Non-Guaranteed bonuses and Life Insurance, so your child's aspirations and dreams are secured for life.
Option to choose the desired benefits:
You can choose between 2 Maturity benefits options under this plan at inception according to the needs and career goal of your child.
Money Back option
Provides guaranteed payouts in the last 5 years before maturity to meet your child's education needs. At maturity this plan offers guaranteed maturity payout of 40% of Sum Assured, to support your child's higher education and kick start his/her career.
|Time of Guaranteed Pay-outs||% of Sum Assured Payable|
|End of 5thYear before the Maturity Date||10%|
|End of 4thYear before the Maturity Date||10%|
|End of 3rd Year before the Maturity Date||15%|
|End of 2nd Year before the Maturity Date||15%|
|End of 1th Year before the Maturity Date||20%|
Provides a guaranteed lump sum amount of 125% of sum assured at maturity of the Policy, provided the policy is in force, to help your child pursue his aspirations and prepare him for the big events in life;
Policy Continuance: The policy ensures that your child will receive all the benefits as planned, by waiving off all the future premiums in case something unfortunate was to happen thus ensuring that Your child's dreams will not be compromised even when you are not around.
Life Insurance Benefit: In case of the unfortunate event of death of the life insured, the nominee will receive Higher of (110% of Sum Assured for Money Back option and 125% of Sum Assured for Endowment option) or 11 times the base annualized Premium to support your child in a time of need. The death benefit payable at any point in time will not be less than 105% of all premiums paid. In case of an unfortunate event, the guaranteed benefits would continue as planned and all future premiums will be waived off.
Potential Upside with Bonus: The policy participates in the distribution of surplus or profits that may be declared by The Company. Non-Guaranteed Annual Simple Reversionary bonus gets accrued to the policy at the end of each year provided all due premiums are paid and is payable at Maturity. The company may also declare Non- Guaranteed Terminal bonus which is also payable along with Maturity Benefit.
Option to choose Premium Payment term: Depending upon the age of your child you can choose the Policy Term options from 11 to 21 Years. Then choose the premium payment type i.e. Limited Pay or Regular Pay depending upon your preference of investment tenure. For Regular Pay, the premium payment term is equal to Policy Term. For Limited Pay, the premium payment term is Policy Term minus 5 Years.
Tax Benefits: You can avail the tax benefits on the premiums paid and on the benefits received subject to the prevailing provisions under Section 80C and Section 10 (10D) respectively of the Income Tax Act, 1961. The tax benefits are subject to change as per change in Tax laws from time to time.
Do I get the flexibility to enhance my protection through additional features?
Yes. To enhance your protection, you may customize your policy by opting for the following riders.
1. Bharti AXA Life Hospi Cash Rider (UIN: 130B007V02)
2. Bharti AXA Life Accidental Death Benefit Rider (UIN:130B008V01)
Please refer rider brochures for complete details on terms and conditions and exclusions before opting for the riders.
SIMPLY FILL IN A FEW OF YOUR DETAILS AND LET US HELP CALCULATE A SPECIFIC PREMIUM RATE FOR YOU.
You may enhance your protection under this Plan by opting for the following rider(s):
Bharti AXA Life Hospi Cash Rider (UIN:130B007V02): This rider allows payment of a fixed benefit for each day of hospitalisation. It also offers a fixed amount benefit if you are admitted in an Intensive Unit Care or a lumpsum benefit in case of surgery.
Bharti AXA Life Accidental Death Benefit Rider(UIN:130B008V01): 100% of all future premiums under the base policy are waived and paid by the company on the death & total permanent disability or critical illness of Proposer, depending on the chosen option.
Please refer to the rider brochure for complete details on terms and conditions and exclusions before opting for the rider. Riders are optional and are available at an extra cost.