Investment Plans 218 views February 10, 2021

To get benefits of investment plus life cover, you should invest in a life insurance policy. If you are tired of the same old investment methods and don’t want to risk your money on the new investment products, we have the right solution for you – a life insurance plan. With this, you will get the same trust of the old investment product and gain market returns  along with attractive benefits. To make it easier for you, we have enlisted the top 3 life insurance plans for you. So, compare their benefits and choose the plan that suits you the best. Read the page further to know more about Bharti Axa Life Wealth Pro vs LIC New Endowment Plan vs SBI Smart Bachat Plan.

Comparison of Bharti Axa Life Wealth Pro vs LIC New Endowment Plan vs SBI Smart Bachat Plan

Check out the table below and compare the 3 life insurance plans such as Bharti Axa Life Wealth Pro vs LIC New Endowment Plan vs SBI Smart Bachat Plan –

AspectsBharti Axa Life Wealth ProLIC New Endowment PlanSBI Smart Bachat Plan
Benefits

  1. In the case of death, the highest of - the sum assured less all partial withdrawals (prior 2 years), policy fund value plus loyalty additions if any, and 105% of all premiums paid - will be payable to the nominee

  2. At the maturity date, you will receive either


  3. Policy fund value + return of mortality charge + return of allocation charge + wealth booster (Growth variant)
    Or
    Policy fund value + loyalty addition + wealth booster (Legacy variant)
    The option of seven funds

    • Use investment strategies such as dynamic fund allocation and systematic transfer plan

    • Minimum partial withdrawal limit of INR 5,000

    • Rider benefits for enhanced coverage



  1. The death benefit is higher than the base sum assured or 7X the annualized premium

  2. Sum assured on maturity + simple reversionary bonuses + final additional bonus, if any, will be payable on survival till the maturity date.

  3. Rider benefits for enhanced protection


  1. The basic sum assured + vested simple reversionary bonuses + terminal bonus if any will be payable on the maturity date

  2. In case of death of the life assured higher of A or B, as mentioned below, will be payable to the claimant -


  3. A - sum assured on death + vested simple reversionary bonuses + terminal bonus if any
    B - 105% of the total premiums paid

    • An additional amount equal to the basic sum assured will be payable to the nominee along with the above-mentioned death benefit in case of accidental death.

    • If the life assured suffers from a total permanent disability due to an accident, all future premiums shall be waived and the policy benefits will continue till maturity, surrender or death, whichever is earlier.


Eligibility

  1. Minimum entry age - 91 days to 8 years (Growth Variant) and 91 days (Legacy Variant)

  2. Maximum Entry Age - 55-65 years (Growth Variant) and 44-65 years (Legacy Variant)

  3. Maturity age - 75 years (Growth)


  1. Age at entry - 8 to 55 years

  2. Maximum age allowed at maturity - 75 years


  1. Age at entry - 6 to 50 years

  2. Maximum age allowed at maturity - 65 years

Policy Term10-20 Years or up to 99 years of age12-35 Years12-25 Years
Minimum Sum AssuredINR 1.25 lakh (Single Pay
And
INR 2.50 lakh (limited or regular pay)
INR 1 lakhINR 1 lakh
Maximum Sum AssuredNo limitNo limitNo limit
Free Look Period15 days (offline purchase) and 30 days (online purchase)15 days only15 days (offline purchase) and 30 days (online purchase)
ExclusionIf you commit suicide within 12 months from policy commencement or revival, th nominee will get fund value as applicable on the date of death.Suicide within 12 months from the commencement date or revival of the policy, the nominee will be entitled to at least 80% of the premiums paid or the surrender value whichever is higher.The nominee will be entitled to get either 80% of the premiums paid or the surrender value, whichever is higher, if the life assured commits suicide within 12 months from policy inception or revival.
Riders

  1. Hospital Cash Rider

  2. Accidental Death Benefit Rider

  3. Premium Waiver Rider

  4. Term Rider


  1. Accidental Death and Disability Benefit Rider

  2. Accident Benefit Rider

  3. New Term Assurance Rider

  4. New Critical Illness Benefit Rider

  5. Premium Waiver Benefit Rider

No Riders Available
Grace Period15 days (monthly premium)
And
30 days (other premium modes)
15 days (monthly premium)
And
30 days (yearly, half-yearly, quarterly premium)
15 days (monthly premium)
And
30 days (half-yearly, yearly and quarterly premium)

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