Bharti AXA Life Dhan Varsha Plan

Want to keep your family protected in case you are not around? Well, choosing a Bharti AXA Life Dhan Varsha Plan can help ensure the same. It is a non-linked non-participating individual life insurance savings plan from Bharti AXA that provides non-guaranteed bonuses as early as from your 7th policy year. Apart from this, you can also enjoy guaranteed survival benefits from the start of the 10th policy year along with protecting your family from an unfortunate event in case you are not around to look after them.

Want to know more about Bharti AXA Life Dhan Varsha Plan? Let’s understand its key advantages, policy benefits, policy term, premium amount, eligibility parameters on this page.

Key Advantages of Bharti AXA Life Dhan Varsha Plan

“Why should I choose this particular life insurance plan?” — This is one of the first questions that come into an individual’s mind while going to protect his or her future with a life insurance policy. Well, to understand this point better, it’s necessary to know all the key advantages of a plan. We are showing the same for Bharti AXA Life Dhan Varsha Plan so that you can make the right decision. Have a look below!

1. Bharti AXA Life Dhan Varsha Plan provides guaranteed survival benefits until maturity. Once an individual completes the 10th policy year, he or she will start getting survival benefits up to one year before maturity or death.
2. This Bharti AXA plan also provides annual benefits with the help of non-guaranteed cash bonuses if the policy is in force. The bonus will be a certain percentage of the sum assured and is given every year from the start of the end of the 7th policy year until maturity or death, whichever is earlier.
3. Along with all these annual benefits, the plan ensures that your family’s future is safe even when you are not around to take care of the same.
4. Bharti AXA also provides several rider options through which you can increase the overall protection. These options are Hospi Cash Rider, Accidental Death Benefit Rider, Premium Waiver Rider and Life Term Rider.
5. Policyholders will also be eligible for the tax benefits on the premium paid towards the policy as well as on the benefits received under Section 80C and Section 10(10D) of the Income Tax Act, 1961, respectively.
6. Individuals will also get a grace period of 15 days (for monthly premium payment mode) and 30 days (for all other modes) after the premium due date. They can pay their premium during this period without having any impact on their policy benefits.
7. If your policy has acquired a surrender value and there are no due premiums on your policy, you can also opt for a loan against your policy to fulfill your urgent needs. The maximum loan amount will be 70% of the surrender value, while the minimum loan amount stands at INR 15,000.

What will the Sum Assured Amount under Bharti AXA Life Dhan Varsha Plan?

Basic sum assured is one of the important aspects of any life insurance plan as all your benefits depend on the same. In the case of Bharti AXA Life Dhan Varsha Plan, the minimum sum assured amount stands at INR 25,000, while there is no maximum limit on it. The company will decide on the final amount after assessing several factors.

What will be the Policy Term and Premium Payment Term?

One of the best things about the Dhan Varsha Plan is the flexibility it provides to individuals when it comes to choosing policy terms and premium payment terms. There are two policy term options from which individuals can choose according to their convenience  — 20 years and 25 years.

The premium payment term will depend on the policy term. For the 20-year policy term option, the premium payment term will be 10 years, while for the 20-year option, it will be 15 years. Policyholders can also choose the suitable premium payment frequency from – monthly, quarterly, semi-annual or annual.

Premium Amount for Bharti AXA Life Dhan Varsha

One of the important things you need to remember about the premium amount is that it depends on several factors such as the policy term, age, gender, premium payment term, and the chosen sum assured. In the case of Bharti AXA Life Dhan Varsha Plan, the minimum annual premium amount for a 20-year policy term will be INR 3,443 and for a 25-year policy term, the premium amount can go as low as INR 2,515 per year. Bharti AXA also provides a discount on the premium rate to individuals choosing the sum assured of more than INR 3,00,000.

Bharti AXA Life Dhan Varsha Plan Benefits

As we mentioned earlier, Dhan Varsha Plan provides a range of benefits to the individual. Now is the time to understand them in detail. Have a look below to know the same!

Guaranteed Survival Benefit

This benefit will be 6% of the sum assured chosen by policyholders. They will start receiving this benefit from the 10th policy year until maturity or death (whichever is earlier).

Life Insurance Benefit

In case of an unfortunate demise of the policyholder, the company will pay the life insurance benefit to the nominee or beneficiary. This benefit can be higher of the following amounts.

1. Sum assured on death
2. 105% of all the premiums paid up to the date of death

You can understand the sum assured on death further. This amount can be the highest of the following –

1. 10 times the annualized premium
2. The guaranteed amount assured to be paid on death equal to the sum assured under the policy
3. Sum assured on maturity under the policy

Maturity Benefits

In case a policyholder survives until the end of the chosen policy term and policy is in force, the company will pay the sum assured on maturity under the policy.

Bharti AXA Life Dhan Varsha Plan Eligibility Criteria

An individual needs to keep a few important parameters while choosing the Dhan Varsha Plan that we are mentioning below. Please check!

1. The minimum age at entry stands at INR 91 days for both policy term options. However, the maximum age at entry can be 55 years and 50 years for 20-year and 25-year policy terms, respectively.
2. An individual can be as old as 75 years at the time of policy maturity.