Investment Plans 315 views November 11, 2021

Bharti AXA Life Express Secure is a unit-linked non-participating insurance plan that provides you the benefit of both investment and life cover. The payable premium under this policy shall be invested in the fund as chosen by you based on your goal and risk appetite as well as help secure the future of your family in case of your death during the policy term. Check out the key features of this Bharti AXA Life Insurance Plan.

  • Death Benefit
  • Maturity Benefit
  • Guaranteed Special Additions
  • Special Additions
  • Six Fund Options

Read this page further and learn more about these and other benefits of the Bharti AXA Life Express Secure.

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Bharti AXA Life Express Secure Benefits

The insurance company shall provide you and the nominee the following benefits under the Bharti AXA Life Express Secure Plan.

Death Benefit Payable to the Nominee During the Policy Term

In case of your unfortunate demise during the policy term, the insurer shall pay an amount equal to 50% of the sum assured to the nominee if the death happens within the first policy year. Whereas, from the second policy year, the death benefit shall be as follows –

Before Guaranteed Special Additions Payment for Option 1

The death benefit payable to the nominee shall be higher of –

  • Policy Fund Value + 110% of first-year annualized regular premium
  • Sum Assured – Withdrawals (other than made out of top-up premium) made twelve months before the date of death.

Before Guaranteed Special Additions Payment for Option 2

The company shall pay higher of –

  • Policy Fund Value + 150% of first-year annualized regular premium
  • Sum Assured – Withdrawals (other than made out of top-up premium) made twelve months before the date of death.

to the nominee

After Guaranteed Special Additions Payment

The nominee will receive the higher of –

  • Policy Fund Value
  • Sum Assured – Withdrawals (other than top-up premium) made twelve months before the date of death.

The death benefit is paid to the nominee by the cancellation of the outstanding units under the policy. Units will be cancelled from the investment funds following the claim request received by the company.

Before 3.00 p.m., the closing unit price shall apply

After 3.00 p.m., the next day’s closing unit price shall apply

Maturity Payout for the Life Assured at the End of Term

You’ll receive the policy fund value at the prevailing rate on the maturity date. The company provides you with the following options to receive the maturity benefit –

  • Lump-sum payment
  • Withdrawal at regular intervals during the Extended Maturity Period
  • Or the combination of above

The extended maturity period is a maximum of five years starting from the maturity date, and you are not entitled to any life insurance benefit, partial withdrawals and switches during this period. However, you can withdraw the balance fund value at any time during this period. If you choose the option of withdrawing during the extended maturity period or a combination of lump sum and withdrawal, the risk shall be borne by you and the applicable fund management charges shall continue to apply. You can intimate the maturity payout option to the insurer at least 90 days before the maturity date. The default option of payout is lump-sum if you don’t intimate the insurer within the specified period.

In case of your death during the extended maturity period, the company shall pay the fund value to the nominee if the same individual is both life assured and policyholder. Otherwise, the policyholder will receive this benefit and the policy will terminate.

Guaranteed Special Additions Under the Bharti AXA Life Express Secure

At inception, you’ll get the option to select the Guaranteed Special Addition (GSA) payout, and the following are your options –

Option 1 – At the end of the 10th Year, the GSA is 110% of the annualized regular premium

Option 2 – At the end of 15th Year, the GSA is 150% of the annualized regular premium

Once the option is chosen, it can’t be altered. And if you surrender the policy before the GSA payout, the same will not be available to you.

Special Additions Credited During the Policy Term

Besides the above, the company shall also provide special additions of 2.50% of the average fund value as per your chosen GSA option. For option 1, the special addition shall be credited to your respective funds at the end of 15th, 20th and 25th policy years. Whereas, for option 2, the same shall be credited at the end of 20th and 25th policy years.

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

Bharti AXA Life Express Secure Investment Options

You can invest your money in any of the following funds –

Growth Opportunities Plus Fund – The company invests in stocks of all market capitalizations for long-term capital appreciation.

Grow Money Plus Fund – The investment is done in the high-quality portfolio of equities for long-term capital appreciation.

Build India Fund – The fund invests in stocks of infrastructure (including its various sub-sectors) and allied sectors for long-term capital appreciation.

Save’n’grow Money Fund – A steady accumulation of income starts through investments in high-quality debt papers and government securities. However, there is limited scope for capital appreciation as this is more of a defensively managed fund.

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

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

The company may change the asset portfolio allocation from time to time after getting approval from the Insurance Regulatory and Development Authority of India (IRDAI).

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