Investment Plans 297 views November 5, 2021

Bharti AXA Life InvestConfident is a unit-linked life insurance plan (ULIP) that provides you the benefit of investment with a life cover for your family’s security. The key features of this Bharti AXA Life Insurance Plan are as follows –

  • Death Benefit
  • Maturity Benefit
  • Accidental Death Payout
  • Special Additions
  • Partial Withdrawal of Units
  • Five Fund Options

Read this page below and learn more about these and other benefits of the Bharti AXA Life InvestConfident.


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Bharti AXA Life InvestConfident Benefits

The insurance company shall provide you and your nominee the following benefits –

Death Benefit Payout to the Nominee

In case of your death, the company shall pay your nominee a death benefit based on the year of death.

Death within First Policy Year

The company shall pay the higher of –

  • 5% of Basic Sum Assured
  • Policy Fund Value

Death within Second Policy Year

Your nominee will receive the higher of –

  • 75% of Basic Sum Assured + Top-up Sum Assured
  • Policy Fund Value

Death After Third Policy Year Onwards

In case of death, the nominee will receive the higher of –

  • Basic Sum Assured + Top-up Sum Assured – Partial Withdrawal (other than Top-up Premium) made 24 months before the death
  • Policy Fund Value

In case the death happens before the p[olicy anniversary and after the life assured has attained the age of 5 years, the nominee will receive the policy fund value as a death benefit.

Accidental Death Payout to the Nominee

Your nominee will receive an accidental death benefit in addition to the above if the cause of your death is an accident. The insurance company pays an amount equal to 3X the Basic Death Benefit as on the date of death, subject to a maximum of INR.5,00,000.

Note – The total accidental death benefit payable to the nominee across all policies issued under Bharti AXA Life InvestConfident shouldn’t be more than INR.10,00,000.

Maturity Benefit Payable to the Life Assured at the End of the Term

You will receive the policy fund value on the maturity date at the prevailing rate.

Special Addition Available Under the Bharti AXA Life InvestConfident

The company shall credit additional units to your respective funds from the fifth policy year onwards, subject to 1.5% of the Average Policy Fund Value for the previous 36 months. This addition will be 2.0% from the tenth policy year and every five years thereafter.

Let’s Talk about the Partial Withdrawal Facility

You can withdraw money from the policy fund value after the completion of three years, provided the policy is in force. This withdrawal is subject to prevalent administrative rules regarding minimum and maximum withdrawal. The minimum withdrawal is INR 10,000. After the partial withdrawal, the fund value should not be less than INR 25,000. The partial withdrawal shall attract a surrender charge on the withdrawn amount from the 4th (2% of the policy fund value) and 5th policy years (1% of the policy fund value).

In a policy year, you can request as many withdrawals, subject to the minimum withdrawal limit and the minimum limit of policy fund value post such withdrawal as told above. Only two partial withdrawals are free of charge in a policy year. After that, every subsequent withdrawal is subject to a charge of INR 100. This charge isn’t more than INR 300 per withdrawal. Along with that, service tax, cess and surcharge will apply to the partial withdrawal amount.

For withdrawals, the cancellation of units is done from the policy fund value corresponding to the paid top-up premiums, provided top-ups are invested for at least three completed years from their payments. However, this shall not apply if the top-up premium is paid during the last three policy years.

Note – You can get the partial withdrawal facility upon attaining the age of 18 years or more.

Bharti AXA Life InvestConfident Fund Options

You can invest in any of the following funds of your choice based on the risk appetite and desired goal.

Growth Opportunities Fund – You’ll get a long-term capital appreciation through investments across stocks of all market capitalizations – large, mid and small.

Grow Money Fund – The fund aims for long-term capital appreciation through investments across a diversified, high-quality portfolio of equities.

Save’n’grow Money Fund – Get a steady accumulation of income through investments in high-quality debt papers and government securities. But here, there is a limited opportunity for capital appreciation. This is more of a defensively managed fund.

Steady Money Fund – You’ll get a steady accumulation of income as the money will be invested in high-quality debt papers and government securities.

Safe Money Fund – The company shall provide capital protection through investments in low-risk money-market & short-term debt instruments that have a maturity of one year or less.

Free Look Period

The insurance company shall provide you a free look period of 15 days from the date of this policy receipt to review its terms and conditions. If you disagree with any of the terms and conditions, you can return the policy stating the for it. After that, the policy will be cancelled and an amount equal to the sum of –

Premium Allocation Charge, Policy Administration Charge, Mortality Charge, deducted from the Policy Fund Value will be refunded.

Note – The policy fund value is subject to the deduction of stamp duty and underwriting expenses incurred by the company.

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