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Investment Plans 949 views January 27, 2021
If you are looking for a life insurance plan that can give you more than benefits, Bharti AXA Life Elite Advantage Plan could be the right choice for you. With this plan from Bharti AXA, you can get a lump sum amount at maturity and regular payouts after the end of your policy term. It is a non-linked, non-participating, individual life insurance savings plan that can give policyholders guaranteed payouts of 8.5% to 9.5% of the basic sum assured. Other than this, you can also enjoy comprehensive protection until the end of the policy term.
Looking to know more about this plan? Well, we will be discussing here everything related to the Bharti AXA Life Elite Advantage Plan, such as its key features, premium amount, the sum assured, eligibility criteria, etc. Keep reading!
Table of Contents
Before choosing any life insurance plan, it is important to understand its features so that you can make the right decision. Keeping this in mind, we are showing some of the key features of the Bharti AXA Life Elite Advantage Plan. Have a look!
One of the best things about this plan from Bharti AXA is that individuals can choose from two policy term options – 10 and 12 years. The premium payment term will depend on your policy term. If you choose a 10-year policy term, the premium payment term will be 5 years, while on choosing the 12-year policy term, the premium payment term can be either 7 or 12 years.
In the case of the Bharti AXA Life Elite Advantage Plan, the minimum premium amount will depend on the premium payment term; the period for which you need to pay the premium. Also, individuals can choose to pay a premium at any of these intervals – annually, semi-annually, quarterly and monthly. We are showing the premium amount in the table below. Have a look!
Premium Payment Term | Minimum Annualized Premium |
---|---|
5-year | INR 24,000 |
7-year | INR 15,000 |
12-year | INR 12,000 |
As we mentioned earlier too, individuals can enjoy several benefits with Elite Advantage Plan. We are discussing them in detail so that you can understand them better. Please check!
If a policyholder survives until the end of the policy term, the company will provide the following benefits to an individual.
The maturity payout period will be dependent on the policy term. For the 10-year policy term, the maturity payout period will be from the end of the 10th year till the end of the 20th year. However, for the 20-year policy term, the maturity payout period will be from the end of the 12th year till the end of the 20th year.
If a policyholder dies during the policy term, the company will pay death benefits to the nominee (if the policy is in force). The sum assured on death can be the highest of the following amounts.
There are a few conditions that you should keep in mind when choosing this plan from Bharti AXA. We are showing them below. Please check!