Saturday, October 23, 2021
Home INSURANCE Bharti AXA Life launches new savings product. Details here

Bharti AXA Life launches new savings product. Details here


Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, one of India’s leading business groups, and AXA, one of the world’s largest insurance companies, today announced the launch of a new participating savings product – Bharti AXA Life Unnati. This plan is designed to provide long term financial stability to individuals with the dual benefits of savings and protection in one single plan.

Bharti AXA Life Unnati is a comprehensive product that offers four plan options, flexible premium payment terms and multiple add-ons in terms of riders. This allows customers to customize the product as per their needs and life goals.

Speaking on the launch of Bharti AXA Life Unnati, Mr. Parag Raja, Managing Director & Chief Executive Officer, Bharti AXA Life, said, “At Bharti AXA Life we have imbibed a culture of being persistent in our approach to provide customers with innovative solutions. Keeping in mind the evolving customer needs, we designed Unnati – a comprehensive life insurance plan for customers at each life stage. It not only offers immediate assured income options and protection up to the age 100 but also helps customers remove uncertainties in fulfilling key life goals.”

The four plan options offered under this plan are:

Whole Life Income option: Provides guaranteed income starting from the 2nd year onwards with cash bonuses (if declared) till age 100 years. This is a ‘4G’ plan that can help cover the expenses of three generations and offers guaranteed returns. Hence, this plan is suitable for people between the age group of 35-50 years that needs to take care of their parents, children and need the support of an additional income.

Endowment option: Provides lump-sum benefit, enabling a policyholder to meet long term goals. The plan option also offers two variants – one in which premiums are waived off in case of death of the life insured and the second in which there is an option for a higher life cover. This is suitable for customers who wish to fulfil a specific goal with a lumpsum amount at the end of the policy such as a child’s higher education, down payment for a house, enjoy a foreign holiday and more.

Moneyback Option: Gives a guaranteed moneyback equal to one annualized premium every 4th year during the policy term along with a lumpsum amount at the end of the policy term. This is ideal for customers who don’t want a lock-in for a long duration and instead desire sizeable returns at regular intervals.

Immediate Income Option: Provides regular income in form of cash bonuses (if declared), from the 2nd policy year and provides a lump sum amount at maturity. This plan helps to augment the customer’s income and meet their immediate needs which their salary may not be able to provide.

In all these options, death cover prevails during the entire policy term and in case of unfortunate death of the life insured, the death benefit is paid to the family (nominee or beneficiary).

 

 

 

 

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