Investment Plans 306 views November 8, 2021

Bharti AXA Life Bright Stars EDGE is a unit-linked insurance plan that comes with the benefit of both investment and life insurance. This plan helps you build a corpus for future financial needs and provide a lump sum to your family in case of your death. Let’s check out the key features of this Bharti AXA Life Insurance Plan.

  • Death payout to the nominee
  • Maturity benefit
  • Partial withdrawal facility
  • Six fund options

Continue reading this page and know more about these benefits available under Bharti AXA Life Bright Stars EDGE.

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Bharti AXA Life Bright Stars EDGE Benefits

You and your nominee shall get the following benefits while choosing this policy –

Death Benefit to Your Nominee Upon Death During the Policy Term

If your nominee files a death claim, the company shall pay him/her an amount equal to the sum assured plus fund value. This benefit is subject to being policy in force and all due premiums paid till the date of death.

Maturity Benefit Available to You at the End of Policy Term

Upon survival till the end of the policy term, the fund value shall be payable to you. However, this is subject to the policy being in force and all premiums are paid till the maturity date. The policy fund value is calculated based on the respective unit prices of the relevant funds as on the valuation date coinciding with the maturity date.

The Utility of the Partial Withdrawal Facility

If you need urgent money, you can apply for partial withdrawal of units. But this facility is available to you after the completion of five policy years. But this benefit is available if the policy is in force and all due premiums are paid till the day of partial withdrawal. The minimum withdrawal amount is INR 1,000. And after the withdrawal, the minimum fund value should be equal to 120% of one annualized regular premium.

You can request as many partial withdrawals as you want, subject to the minimum withdrawal limit and the minimum policy fund value. Only two partial withdrawals are free of charge in a policy year. After that, every subsequent withdrawal is subject to a charge of INR 100 per withdrawal, which is recovered by the cancellation of units from the fund value.

Bharti AXA Life Bright Stars EDGE Surrender Option

If you want, you can surrender the Bharti AXA Life Bright Stars EDGE. And when you do so, the surrender value payable to you shall be equal to the policy fund value less discontinuance charge. The discontinuance charges are as follows.

Year of discontinuance of premium or surrenderFor policies with annualized premium <= INR 25,000 p.a.For policies with annualized premium > INR 25,000 p.a.
1stLower of -
20% of the annual premium
20% of the fund value
INR 3,000
Lower of -
6% of the annual premium
6% of the fund value
INR 6,000
2ndLower of -
15% of the annual premium
15% of the fund value
INR 2,000
Lower of -
4% of the annual premium
4% of the fund value
INR 5,000
3rdLower of -
10% of the annual premium
10% of the fund value
INR 1,500
Lower of -
3% of the annual premium
3% of the fund value
INR 4,000

If the policy is surrendered before the completion of five years, the surrender value is calculated based on the surrender request date. And the money shall be credited to the Discontinued Policy Fund which will earn a minimum interest computed at a rate as specified by the Insurance Regulatory and Development Authority (IRDAI). This shall be payable to you on the completion of five policy years.

What are the Investment Options Under Bharti AXA Life Bright Stars EDGE?

You can invest in any of the following funds as per your goals and risk appetite –

Growth Opportunities Plus Fund – This fund invests in stocks of all market capitalizations to provide long-term capital appreciation.

Grow Money Plus Fund – The fund invests in a high-quality portfolio of equities to generate long-term capital appreciation.

Build India Fund – Your money will be invested in stocks of infrastructure and allied sectors to generate a long-term capital appreciation. Plus, there are diversified investments across various sub-sectors of the infrastructure sector.

Save’n’grow Money Fund – A steady accumulation of income is generated through investments in high-quality debt papers and government securities. However, there is limited scope for capital appreciation.

Steady Money Fund – You’ll get a steady accumulation of income through investments in high-quality debt papers and government securities.

Safe Money Fund – This will provide capital protection through investments in money-market and short-term debt instruments which have a maturity of one year or less.

Suicide Exclusion Applicable to Bharti AXA Life Bright Stars EDGE

In case of your death due to suicide within one year of the policy issuance, policy fund value shall be payable to the nominee as on the valuation date following the intimation of death.

Free Look Option

In the welcome letter that you’ll receive along with the policy bond, a free look option is mentioned using which you can cancel the policy within a specified period. You can cancel the policy if you have any disagreement with the terms and conditions. When a cancellation request is received, the insurer will refund an amount equal to the sum of premium allocation charge, policy administration charge, mortality charge and policy fund value less stamp duty and underwriting expenses incurred by the company.

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