Investment Plans 464 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.

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Benefits Under Bharti AXA Life Super Endowment Plan

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 –

  1. 11X annualized premium
  2. 105% of the total paid premiums till the date of death
  3. Absolute amount assured to be paid on death. This will be equal to the sum assured plus any guaranteed additions accrued as on the date of death.
  4. Sum assured on maturity

Note – Death Benefit will be reduced by the already paid survival benefit, if any.

Bharti AXA Life Super Endowment Plan Flexible Policy Terms & Premium Payment Terms

You can choose your policy and premium payment term for Bharti AXA Life Super Endowment Plan from the following –

Policy TermPremium Payment Term
16 years8 years
18 years9 years
20 years8 years
20 years9 years
20 years10 years
20 years11 years
20 years12 years
20 years13 years
20 years14 years
20 years15 years

Extended Life cover for Bharti AXA Life Super Endowment Plan

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.

Eligibility Criteria for Bharti AXA Life Super Endowment Plan

You should check the following criteria for Bharti AXA Life Super Endowment Plan –

  1. Minimum entry age – 2 years for a policy term of 16 years
  2. Minimum entry age – 91 days for a policy term of 18 or 20 years
  3. Maximum entry age – 60 years for Bharti AXA Life Super Endowment Plan without an extended life cover
  4. Maximum entry age – 55 years for Bharti AXA Life Super Endowment Plan with an extended life cover
  5. Maturity age – 80 years for all policy terms
  6. Minimum sum assured – INR 50,000
  7. There is no capping on the sum assured of this policy
  8. Minimum premium amount – INR 3,049
  9. Available premium payment modes – annual, sem-annual, quarterly and monthly

Optional coverage Under 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.

Bharti AXA Life Super Endowment Plan Terms & Conditions

  1. The company gives a free look period of 15 or 30 days to the policyholder. The 30-day free look period is given when the policy is purchased via distance marketing such as online, telemarketing, etc. This free look shall start from the date of receipt of the policy document. During the free look period, the policyholder can read the terms and conditions for Bharti AXA Life Super Endowment Plan and returns the same if not agreeable.
  2. In case the life assured commits suicide, the nominee will get 80% of the paid premium or surrender value as on the date of death, whichever is higher. This clause shall apply if the life assured dies due to suicide within 12 months from the date of commencement or revival.
  3. If the life assured is a minor, the ownership of this life insurance plan will automatically vest on the life assured on attaining the age of 18 years. Options and benefits such as surrender or death benefit will not be available under the policy during the time where the life assured is a minor.

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