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Investment Plans 1264 views January 29, 2021
Bharti AXA Life Super Endowment Plan builds wealth for your future goals, so you won’t have to worry about the future needs anymore. There are as many as ten policy terms and premium payment terms from which you can choose to create wealth for your future. The policyholder needs to pay a premium for a limited time only. And there are guaranteed additions on your Bharti AXA Life Super Endowment Plan which is paid a year before maturity. At maturity, the life assured will get a lump sum amount. Also, there is a life cover under Bharti AXA Life Super Endowment Plan with an extended life cover option, so in case of an unfortunate event, your family will stay financially protected. Let’s read the page further and learn more about Bharti AXA Life Super Endowment Plan features and benefits.
Table of Contents
You can get Bharti AXA Life Super Endowment Plan benefits at different time intervals or situations. Check them out below –
On Survival – A year before maturity, Bharti AXA will provide the life assured a survival benefit equivalent to the accrued guaranteed additions, provided the policy is in force and all due premiums are paid in full.
Note – Guaranteed additions are equal to 10% of the sum assured.
At Maturity – On survival till maturity of Bharti AXA Life Super Endowment Plan, the company provides the sum assured at that time. This payout applies to all premium payment terms and policy terms.
On an Unfortunate Event – If the life assured dies during the policy term and has no extended life cover, the nominee/beneficiary will be entitled to the sum assured on death, which is the highest of the following –
Note – Death Benefit will be reduced by the already paid survival benefit, if any.
You can choose your policy and premium payment term for Bharti AXA Life Super Endowment Plan from the following –
Policy Term | Premium Payment Term |
---|---|
16 years | 8 years |
18 years | 9 years |
20 years | 8 years |
20 years | 9 years |
20 years | 10 years |
20 years | 11 years |
20 years | 12 years |
20 years | 13 years |
20 years | 14 years |
20 years | 15 years |
With an extended life cover, you can get life coverage even after the maturity date for a period equal to half the policy term. And the benefit is that if you die during the extended life cover period, a sum assured chosen at inception shall be payable to you. For an extended life cover, you need to pay an additional premium for the same premium payment term.
In case of death during the policy term with an extended life cover, the nominee/beneficiary will get the sum assured on death plus an additional sum assured chosen at inception. Also, your death benefit shall be reduced by the already paid survival benefit.
You should check the following criteria for Bharti AXA Life Super Endowment Plan –
If you want to customize the Bharti AXA Life Super Endowment Plan, add the following riders by paying a nominal premium for the same.
Bharti AXA Life Hospi Cash: This will allow payment for each day of hospitalization and a lump sum for surgery.
Bharti AXA Life Accidental Death Benefit: Receive an additional sum assured if the death is caused due to an accident.
Bharti AXA Life Premium Waiver: In case of death, total permanent disability or critical illness, your future premiums will get waived and the policy benefits will continue the same.
Bharti AXA Life Term Rider: To increase the life insurance coverage, use this rider.