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Investment Plans 688 views February 2, 2021
Bharti AXA Life Flexi Save is an insurance plan that will help you achieve your different life goals and allows you to withdraw from your savings whenever you want them. Under Bharti AXA Life Flexi Save, you will get maturity benefits when you complete the policy term. Whereas if you don’t survive till the end of the policy term, the Bharti AXA Life Flexi Save plan will take care of your family’s financial needs with its death benefit. And there are three options of policy terms/premium payment terms for the customer. Sounds like a great plan to you! Know more about its features and benefits on the page below.
Table of Contents
The life insured or his/her nominee will receive the following benefits –
Maturity Benefit – When your Bharti AXA Life Flexi Save plan term is completed, you will receive a maturity benefit of 100% of the sum assured plus the accrued reversionary and terminal bonus, if any.
Death Benefit – This benefit is for your nominee in case you die during the policy term, provided the policy is in force and all premiums are paid till the date of death. The nominee shall receive the highest of the following as a death benefit under Bharti AXA Life Flexi Save.
Along with the above-mentioned benefits, the nominee will also receive the accrued reversionary bonus and terminal bonus, if any.
The life insured gets the following advantages when he/she buys Bharti AXA Life Flexi Save
Maturity Benefit (In INR) (A) | Amount Exempted from Tax (In INR) (B) | Amount on Which Tax Would Apply (In INR) (C) | Percentage of Tax on Your Maturity Amount (D) | Tax to be Charged (In INR) (E) | Amount You’ll Receive Post Tax Deduction (In INR) (A-E) |
---|---|---|---|---|---|
50,00,000 | 1,00,000 | 49,00,000 | 10% | 4,90,000 | 45,10,000 |
Policy Term (in years) | Premium Payment Term (in years) | Flexi Benefit Period |
---|---|---|
20 | 5 | From the end of the 10th policy year |
25 | 7 | From the end of the 15th policy year |
30 | 12 | From the end of the 20th policy year |
Note – When Bharti AXA Life Flexi Save completes its policy term, it will have the full maturity benefit and, therefore, no surrender and paid-up benefit will apply to it.
If the customer wants additional cover under the Bharti AXA Life Flexi Save policy, they can do so by paying an extra premium for the rider policy. Bharti AXA Life Flexi Save comes with the following rider –
Bharti AXA Hospital Cash Rider – With the help of this rider policy, the life insured can get a fixed benefit on each day of hospitalization. And in case of surgery, the company will pay a lump sum benefit to the life insured as per the rider policy benefits.
An individual can purchase the Bharti AXA Life Flexi Save plan if he/she meets the following –
Policy Term (in Years) | Minimum Age at Entry (In Years) |
---|---|
20 | 8 |
25 | 3 |
30 | 0 |
Policy Term (in Years) | Minimum Age at Entry (In Years) |
---|---|
20 | 65 |
25 | 60 |
30 | 55 |
Policy Term (In Years) | Minimum Annual Base Premium (In INR) |
---|---|
20 | 30,000 |
25 | 24,000 |
30 | 15,000 |