Investment Plans 104 views November 4, 2020

Bharti AXA Life Wealth Pro Plan

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.

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Features of Wealth Pro Plan

  1. There are two variants available in this insurance plan.
  2. Wealth booster will help you to increase your investment.
  3. Flexibility of choosing the investment strategy as per your needs.
  4. Get tax benefits as per the prevailing tax laws.
  5. Flexibility of choosing the Policy term.
  6. You are free to choose the amount of Sum Assured as per your investment.
  7. Your family will get the death benefits in this policy after you.

Benefits of Wealth Pro Plan by Bharti AXA

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:-

  1. Sum Assures minus all partial withdrawals made during the two year period immediately preceding the date of the death of the insured.
  2. Policy Fund Value as on the date of death.
  3. 105% of all the premiums paid up to the time of the death.

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:-

  1. Policy Fund Value
  2. Return of Mortality Charges
  3. Return of Premium Allocation Charges
  4. Wealth Boosters

If you have chosen Legacy Variant then you will receive the following benefits:-

  1. Policy Fund Value
  2. Loyalty Additions
  3. Wealth Booster

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:-

  1. 5th Policy Year- 0.25% of the Policy Fund Value
  2. At Maturity- 1.25% of the Policy Fund Value

Rider Options

You can add the following riders to this plan in order to enjoy more coverage. The riders allowed are:-

  1. Bharti AXA Life Hospi Cash Rider
  2. Accidental Death Benefit Rider
  3. Bharti AXA Life Premium Waiver Rider
  4. Bharti AXA Life Term Rider

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:-

  1. Growth Variant – The policy term options available are 10, 15, and 20 years with multiple Premium Payment term options in this variant.
  2. Legacy Variant – The Company offers a Legacy variant that provides life insurance coverage of 10 times the annualized premium throughout the policy term (99 years).

Details of Bharti AXA Life Wealth Pro Plan

ParticularsDetails
Minimum Age of Entry for Growth Variant91 Days for the Policy Term of 20 Years
Minimum Age of Entry for Legacy Variant91 Days
Maximum Age of Entry for Growth Variant65 Years for the Policy Term of 10 Years
Maximum Age of Entry for Legacy Variant65 Years for the Policy Term of 10 Years
Minimum Policy Term10 Years
Premium Paying Term for Legacy Variant5 Years, 7 Years, and 10 Years
Minimum Single Pay PremiumRs1 Lac
Minimum Regular or Limited Pay PremiumRs.25000
Maximum PremiumNo Limit
Minimum Sum Assured for Single PayRs.1.25 Lacs
Minimum Sum Assured for Limited and Regular PayRs.2.5 Lacs
Maximum Sum AssuredNo Limit

Charges of the Wealth Pro Policy

  1. Premium Allocation Charges
  2. Mortality Charges
  3. Policy Administration Charges
  4. Fund Management Charges
  5. Discontinuance Charges

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