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Investment Plans 367 views January 27, 2021
Looking to fulfill the financial needs of your family in case you are not around? Well, Bharti AXA Life Super Series Plan can be the right option for you as it offers a lump sum amount at the end of your premium payment term, followed by increasing guaranteed payouts until the policy matures and a lump sum amount at maturity. It is a non-linked non-participating individual life insurance savings plan that helps individuals protect the dreams and goals of their families.
Here, we will be discussing some of the important aspects of the Bharti AXA Life Super Series Plan. Keep reading to know more!
Table of Contents
Reasons to Choose Bharti AXA Life Super Series Plan
What are those amazing features that could make people choose Bharti AXA Life Super Series Plan? Well, we are showing the same below. Please check!
- Individuals can choose from two plan options according to their desired investment terms and returns — Super 6 and Super 10. With the former, you will need to pay a premium for 6 years, while you have to pay a premium for 10 years if you choose the latter. Also, the period of guaranteed money back benefits will be 6 for Super 6 and 10 years, and Super 10.
- Talking about guaranteed money back benefits, policyholders can enjoy guaranteed cash payouts every year from the end of the premium payment term till the maturity of their policy. This benefit will be 50% of the sum assured at the end of the premium payment term. With this amount, individuals can easily fulfill their different needs like child’s education, marriage, etc.
- Other than the guaranteed money back benefits, this policy also provides guaranteed maturity additions of 30% of the sum assured on maturity as loyalty benefits for staying invested for the total policy term.
- Policyholders can also opt for a loan against this policy with a minimum amount of INR 15,000. However, the maximum loan amount can go up to 70% of the overall surrender value of the policy.
- In the case of Bharti AXA Life Super Series Plan, the sum assured amount will depend on the minimum premium amount towards the policy.
- Bharti AXA also provides a few additional riders with which you can enhance your protection. There are two options for you here — Life Hospi Cash Rider and Life Premium Waiver Rider
- Tax benefits are an added advantage that policyholders can enjoy by choosing Bharti AXA Life Super Series Plan. These benefits can be given on the premium paid and benefits received under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
- Individuals will also get a grace period of 15 or 30 days from their premium due date within which there will be no impact on their policy benefits.
What Will be the Policy Term and Premium Payment Term?
As we mentioned earlier, you can choose from two plan options while going for Bharti Super Series Plan. Both policy term and premium payment term depend on the desired option. In the case of the Super 6 option, the policy term will be 12 years while the premium payment term will be 6 years. On the other hand, when you choose the Super 12 Option, the policy term will be 20 years and the premium payment term will be 10 years.
Minimum Annualized Premium Amount for Bharti AXA Life Super Series Plan
Similar to the policy term and premium payment term, the minimum annualized premium also depends on the chosen option. In the case of the Super 6 option, the minimum premium amount will be INR 18,000, while in the case of the Super 12 option, this amount can be as low as INR 15,000. Also, you need to keep in mind that different premium payment intervals are available for you – annual, semi-annual, quarterly and monthly.
Bharti AXA Life Super Series Plan Benefits in Detail!
Want to know the key benefits to have with the Bharti AXA Life Super Series Plan? Well, we are showing them below. Have a look!
Guaranteed Money Back Benefit
Individuals will start receiving guaranteed money back benefits right after the end of the premium payment term and will be paid at the end of each policy year until maturity. These benefits will be a percentage of the sum assured on maturity. Also, you should have paid all the premiums to get such benefits. To know more, you can check the table below.
| For Super 6 Option | |
| End of the Policy Year | Percentage of Sum Assured at Maturity |
| 6 | 50% |
| 7 | 12% |
| 8 | 15% |
| 9 | 18% |
| 10 | 21% |
| 11 | 24% |
| For Super 12 Option: | |
| End of the Policy Year | Percentage of Sum Assured on Maturity |
| 10 | 50% |
| 11 | 12% |
| 12 | 15% |
| 13 | 18% |
| 14 | 21% |
| 15 | 24% |
| 16 | 27% |
| 17 | 30% |
| 18 | 33% |
| 19 | 36% |
Maturity Benefit
If a policyholder survives until the end of the policy term, he/she will receive the sum assured at maturity if the policy is in force.
Death Benefit
The nominee or beneficiary will receive a death benefit in the event of the policyholder’s unfortunate demise. These benefits can be the highest of the following amounts.
- 11 times the annualized premium (for Super 6 option) and 15 times the annualized premium (for Super 12 option)
- 105% of all premiums paid up to the date of death
- Sum assured at maturity
Bharti AXA Life Super Series Plan Eligibility Criteria
There are a few important conditions that you should keep in mind when going for the Super Series Plan. Have a look below to know the same!
- The minimum age at entry for the Super 6 option stands at 6 years, while for the Super 12 option, this age can be 0 years. However, the maximum entry age stands at 63 years and 60 years for Super 6 and Super 12 options, respectively.
- Coming to the maturity age, this will be 75 years and 80 years for Super 6 and Super 12 options, respectively.