Investment Plans 236 views November 10, 2021

Bharti AXA Life DreamLife Pension is unit-linked life insurance where you will get the benefit of both investment and insurance. The key features of this Bharti AXA Life Insurance Plan are as follows –

  • Death Benefit
  • Vesting Benefit
  • Special Additions
  • Five fund options

Read this page and learn more about these and other benefits of the Bharti AXA Life DreamLife Pension Plan.


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Bharti AXA Life DreamLife Pension Benefits

The insurance company will provide you and the nominee the following benefits under the Bharti AXA Life DreamLife Pension Plan.

Death Payout for Nominee

In case of your death during the policy term, the company will pay the fund value to the nominee at the prevailing rate following the intimation of death. Units will be canceled from your respective funds. The cancellation is done based on the time the company receives your application for the same.

Till 3.00 p.m. – the closing unit price of that very day shall be payable

After 3.00 p.m. – the closing unit price of the next day shall be payable

Under exceptional circumstances, the company may delay the cancellation of units for maintaining fairness and equity between policyholders who stay invested and the ones who exit at that time. The delay in the cancellation of all or part of the investment funds can happen for a maximum of 30 days. In case of delay, the company will use the unit prices of the day on which the cancellation happens.

Vesting Benefit for the Life Assured

You’ll receive the fund value at the end of the policy term, provided the policy is in force and you’re alive. You can utilize the entire proceeds to purchase the available annuity product of the company or any other insurer’s annuity product. Or utilize only two-thirds of the proceeds to purchase the annuity product and withdraw the balance amount. You need to notify the insurer about your choice at least 90 days before the vesting date.

In case you purchase an annuity product from another insurer, they shall intimate the decision to the company. After that, the company shall transfer the vesting benefit to the insurer chosen by you.

You can modify the vesting date, however, the modified date should fall within the age of 45 and 80 years and the policy should have completed a minimum of 10 years. For this, you need to intimate the insurer at least 90 days before the vesting date.

Special Additions Credited During the Policy Term

If your policy is in force, the insurer shall credit special additions to your respective funds from the tenth policy anniversary date and thereafter every policy anniversary till the vesting date. The allocation shall be made by the creation of additional units across your investment funds in the same proportion you have invested your premium. The special addition would be 0.10% of the average fund value.

Note – The average policy fund value is equal to the average of fund values as on the last date of each of the previous 36 months.

Bharti AXA Life DreamLife Pension Plan Investment Options

You can invest in any of the following funds –

Growth Opportunities Pension Fund – The fund provides a long-term capital appreciation through investments in stocks of all market capitalizations.

Grow Money Pension Fund – The investments are done in a high-quality portfolio of equities to generate long-term capital appreciation.

Save’n’grow Money Pension Fund – A steady accumulation of income is offered to you through investments in high-quality debt papers and government securities. However, the scope for capital appreciation is limited when investing in this fund, which is somewhat defensively managed.

Steady Money Pension Fund – The company provides you with a steady accumulation of income through investments in high-quality debt papers and government securities under this fund.

Safe Money Pension Fund – The fund offers capital protection through investments in money-market and short-term debt instruments which have a maturity of one year or less.

Free Look Option

When you receive the policy bond, you’ll see a free look option using which you can cancel the policy within 15 days of the document receipt. So, read the terms and conditions and cancel the policy if you have any disagreement. Upon receiving such a cancellation request, 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 it.

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