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Investment Plans 1338 views November 4, 2020
Most individuals want to multiply their wealth through investment and savings. But on the other hand, they look for their life security. So, in such a scenario the investment insurance plans are the best option for them. The investment insurance plan helps the individuals to multiply their wealth and gives them lifelong coverage. You can explore the Bharti AXA Life Wealth Pro Plan that will boost your wealth. It will give you loyalty additions and death benefits so that your family will receive the maturity after your death. This plan is a unit-linked, non-participating individual insurance plan. There are two variants available in this plan so you must explore every detail of this policy.
Table of Contents
Here are some of the benefits of this insurance plan that you must explore before buying it. These benefits will make you understand how your investment will increase after the policy term.
Death Benefits
In case of unfortunate death of the insured the nominee is entitled to receive the highest of the following as the death benefit:-
Maturity Benefits
The maturity benefits differ depending upon the variant you have chosen at the time of inception of the policy. You can see the maturity benefits below:-
If you have chosen the Growth Variant then you will receive the amount of money:-
If you have chosen Legacy Variant then you will receive the following benefits:-
Loyalty Additions
The loyalty additions are given to the Legacy Variant only of the Bharti AXA Life Wealth Pro Plan. You will receive loyalty additions at the end of every policy year. The Loyalty Additions will be allocated to the plan by creating additional Units as per the Investment Funds in the same proportion as the investment fund allocation is given.
Wealth Booster
You will get the wealth booster at the end of the 5th policy year and at the date of maturity. This booster will be provided in both variants that are Growth Variant and Legacy Variant. The wealth booster will be added as follows:-
Rider Options
You can add the following riders to this plan in order to enjoy more coverage. The riders allowed are:-
Grace Period
If in case you are unable to make the payment of the premium on time then the company gives you a grace period of 15 days to pay the premium. 15 days of the grace period is given if you have opted for the premium paying frequency on a monthly basis. The company gives you a grace period of 30 days if you have chosen any other premium paying
frequency modes.
Variants of this Policy
There are two variants available in this policy and they are as follows:-
Particulars | Details |
---|---|
Minimum Age of Entry for Growth Variant | 91 Days for the Policy Term of 20 Years |
Minimum Age of Entry for Legacy Variant | 91 Days |
Maximum Age of Entry for Growth Variant | 65 Years for the Policy Term of 10 Years |
Maximum Age of Entry for Legacy Variant | 65 Years for the Policy Term of 10 Years |
Minimum Policy Term | 10 Years |
Premium Paying Term for Legacy Variant | 5 Years, 7 Years, and 10 Years |
Minimum Single Pay Premium | Rs1 Lac |
Minimum Regular or Limited Pay Premium | Rs.25000 |
Maximum Premium | No Limit |
Minimum Sum Assured for Single Pay | Rs.1.25 Lacs |
Minimum Sum Assured for Limited and Regular Pay | Rs.2.5 Lacs |
Maximum Sum Assured | No Limit |