Investment Plans 182 views January 28, 2021

A life insurance plan can also help accumulate savings, something which individuals look for. Bharti AXA Life Samriddhi Plan can be the perfect companion for such individuals as it helps build regular savings that can fulfill people’s aspirations. This non-linked participating endowment savings plan from Bharti AXA provides a 100% sum assured on maturity along with accumulated non-guaranteed bonuses every year. To meet your future goals, it is essential to save regularly over a long period, and this plan helps in the same.

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On this page, we will discuss some of the important aspects related to the Bharti AXA Life Samriddhi Plan, such as its key features, premium payment term options, eligibility criteria, etc. Keep reading to know more about it!

Why Should You Choose Bharti AXA Life Samriddhi Plan?

If you are someone who is looking to fulfill your family’s aspirations, Bharti AXA Life Samriddhi Plan could be the best fit for you. But it’s important to know those key features of the Bharti AXA that make it one of the popular plans among customers. We are showing the same below. Please check!

  1. One of the best things about the Bharti AXA Life Samriddhi Plan is the flexibility customers can enjoy with the policy term and premium payment term options. The company provides two premium payment term options — Limited premium payment term and Regular premium payment term. With the limited payment term option, you can choose 5 or 12 years with a policy term of 10 or 20 years respectively. On the other hand, with the regular premium payment option, you can choose from options of 10, 15, 20, 25, 30 and 35 years (same as the policy term).
  2. With this Bharti AXA plan, individuals can enjoy a guaranteed lump sum benefit at maturity. This benefit will be 100% of the sum assured at the time of maturity if all the premiums are duly paid.
  3. Bharti AXA also provides the option to receive additional earnings in the form of a non-guaranteed annual simple reversionary bonus and a non-guaranteed terminal bonus. Policyholders can also receive these bonuses along with maturity benefit or death benefit.
  4. Individuals also get the option to increase their protection by choosing a few additional riders such as Hospi Cash Rider, Premium Waiver Rider, Life Term Rider, and Accidental Death Benefit Rider.
  5. In case a policyholder is unable to pay the premium on the due date, he/she can do so within a grace period of 15 or 30 days from the premium due date. And it will not impact policy benefits.
  6. Policyholders can also opt for a loan against the policy if it has acquired a surrender value. The loan amount can be a maximum of 70% of the surrender value with a minimum amount of INR 15,000.

Minimum Sum Assured and Minimum Annualized Premium Amount for Bharti AXA Life Samriddhi Plan

For Bharti AXA Life Samriddhi Plan, the minimum sum assured depends on the minimum annualized premium amount. Do remember that the minimum premium amount depends on the premium payment term chosen by individuals. Also, your premium amount depends on several other factors such as age, policy term, premium payment mode, and the sum assured on maturity as chosen by policyholders. To know more about it, you can check the below table!

Premium Payment TermMinimum Annualized Premium (In INR)
5 and 10 years18,000
12 and 15 years12,000
20 and 25 years6,000
30 and 35 years3,000

Premium Payment Modes That You Can Choose from

One of the best things that this policy from Bharti AXA provides is the flexibility to choose from different premium payment modes. These modes are annual, semi-annual, quarterly, and monthly. However, you can choose the quarterly and monthly mode by choosing the auto-payment option.

Let’s Discuss Bharti AXA Life Samriddhi Plan Benefits

Bharti AXA Life Samriddhi Plan provides maturity and death benefits to the policyholders. Want to know more about them in detail? Well, we are showing the same below. Have a look!

Maturity Benefit

If all the premiums are duly paid and the policyholder survives until the maturity of the policy, the company will pay 100% of the sum assured on maturity to the individual. Apart from this, they will also receive a non-guaranteed simple reversionary bonus and a non-guaranteed terminal bonus (if declared).

Death Benefit

The company will pay a death benefit to the nominee in case the policyholder dies during the policy term. The death benefit will be the sum of the following amounts.

  1. Basic life insurance cover
  2. Accumulated non-guaranteed annual simple reversionary bonus (if declared)
  3. Non-guaranteed terminal bonus (if declared)

Do remember that the basic life insurance cover can be higher of the following amounts

  1. Sum assured on maturity
  2. 11 times the annualized premium

Bharti AXA Life Samriddhi Plan Eligibility Criteria

There are a few conditions that an individual needs to keep in mind while choosing this plan from Bharti AXA. We are showing them in the below table. Please check!

Policy TermMinimum Entry AgeMaximum Entry AgeMaximum Age of the Individual Allowed at Maturity
10 years8 years55 years65 years
15 years3 years55 years70 years
20 & 25 years0 years50 years70 and 75 years
30 & 35 years0 years45 years75 and 80 years

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