Bharti Axa Life Guaranteed Income Pro

Overview

Bharti AXA Life Guaranteed Pro is a non-linked, non-participating life insurance savings plan. This plan offers the dual benefit of a long-term income option and a guaranteed maturity benefit. With a minimum entry age of 3 months, this plan can be purchased for individuals up to 65 years of age.

In addition to the regular guaranteed plan, it offers death benefits based on the premium paid. With Bharti AXA Life Guaranteed Income Pro, you can receive death benefits ranging from Rs. 25,000 with no upper limit.

Key Benefits of Bharti AXA Life Guaranteed Pro Plan

• Life insurance cover
• Two plan options
• Receive all premiums back
• Flexible premium paying term

Plan Features

• Premium Back

  Receive premiums back under the income option.

• Flexibility

  Flexible policy and premium paying term.

• Life Insurance

  Life insurance coverage for the whole policy tenure.

• Plan Options

  Two plan options: endowment and income option.

Plan Options Available in Bharti AXA Life Guaranteed Income Pro

This plan offers two different plan options:

1. Endowment Option

   • Death Benefit

     Upon the unfortunate demise of the life insured during the policy term, the death benefit will pay the highest of the following:

     For single pay less than Rs. 50,000:

     • 1.25 times Single Premium or
     • 105% of the total premium paid or
     • As per the policy sum assured.

     For single pay more than Rs. 50,000:

     • 10 times the Single Premium or
     • 105% of the total premium paid or
     • As per the policy sum assured.

     For limited and regular pay:

     • 11 times the annualized premium or
     • 105% of the premium paid or
     • As per the policy sum assured.

   • Maturity Benefit

     Upon the policy's maturity and all premiums are paid, Bharti AXA Life Guaranteed Income Pro will pay the maturity benefit as below:

     Maturity Benefit = Sum Assured on Maturity + Accrued Guaranteed Additions.

   • Tax Benefit

     All premiums paid towards this plan can be used for claiming tax benefits under the Income Tax Act, 1961, for the below sections:

     Sections	Limits
     Section 80C	Up to 1.5 lac
     Section 80D	Up to 50 thousand
     Section 1010D	Up to 2.5 lac

2. Income Option

   • Death Benefit

     Upon the unfortunate demise of the life insured during the policy term, the death benefit will pay the highest of the following:

     For single pay:

     • 10 times a single premium.
     • 105% of total premium paid.
     • As per the policy sum assured.

     For limited or regular pay:

     • Death Benefit Multiple + times Annualized Premium.
     • 105% of Total Premiums paid.
     • As per the policy sum assured.

   • Maturity Benefit

     Upon the policy's maturity and all premiums are paid, the Bharti AXA Life Guaranteed Income Pro plan gives two options to receive the payout:

     • Short-Term Income

       In this payout, you'll receive the maturity benefit in the form of income payable for a fixed period of 10, 11, or 12 years upon all due payments being paid.

       The income payout period and premium payment terms would be as follows:

       Short-Term Income
       Premium Payment Term (years)			10	11	12
       Policy Term (years)			11	12	13
       Income Payout Period (years)			10	11	12
       Income Payout			Income from 12th year to 21st year in arrears	Income from the 13th year to 24th year in arrears	Income from the 14th year to 25th year in arrears
       Income Payout Percentage	Age Band 1 (less than 46 years)	AP: 35000 and below	165.80%	173.90%	182.80%
       		AP: 35001 and 49,999	171.60%	178.30%	187.80%
       		AP: 50,000 and above	188.10%	188.60%	209.30%
       	Age Band 2 (more than 46 years)	AP: 35000 and below	161.00%	166.50%	175.50%
       		AP: 35001 and 49,999	165.00%	170.70%	181.80%
       		AP: 50,000 and above	176.70%	176.10%	197.90%

     • Long-Term Income

       In this payout, you'll receive the maturity benefit in the form of income payable for a fixed period of 25 or 30 years upon all due payments being paid.

       The income payout period and premium payment terms would be as follows:

       Long-Term Income
       Premium Payment Term (years)			5	10	12
       Policy Term (years)			6	11	13
       Income Payout Period (years)			30	25	25
       Income Payout			Income from 7th year to 36th year in arrears	Income from the 12th year to 36th year in arrears	Income from the 14th year to 38th year in arrears
       Income Payout Percentage	Age Band 1 (less than 46 years)	AP: 35000 and below	25.70%	64.50%	82.50%
       		AP: 35001 and 49,999	27.30%	71.70%	89.50%
       		AP: 50,000 and above	32.10%	91.40%	99.40%
       	Age Band 2 (more than 46 years)	AP: 35000 and below	24.90%	61.80%	80.00%
       		AP: 35001 and 49,999	165.00%	170.70%	181.80%
       		AP: 50,000 and above	176.70%	176.10%	197.90%

   • Tax Benefit

     All premiums paid towards this plan can be used for claiming tax benefits under the Income Tax Act, 1961, for the below sections:

     Sections	Limits
     Section 80C	Up to 1.5 lac
     Section 80D	Up to 50 thousand
     Section 1010D	Up to 2.5 lac

Conclusion

Bharti AXA Life Guaranteed Income Pro offers dual benefits: death benefits to your family in case of uncertain demise and regular guaranteed income until the entire policy tenure. This plan helps you receive income and a lump sum maturity benefit at the end of the policy tenure. If you are still confused about whether the Life Secure Income plan is right, contact us at PolicyX. One of our insurance experts will reach out to you shortly, understand your requirements, and help you choose a plan that best fits your unique needs.