Bharti Axa Investment Plans
Bharti AXA Life Monthly Advantage helps you secure your financial futu ...Read More
A quick read on what this Bharti Axa Investment Plans term plan covers and why it might be a fit for you.
Get Income for Tomorrow with Bharti AXA Monthly Advantage Plan – secure savings, guaranteed returns, and financial security.
Bharti AXA Life Monthly Advantage is a non-participating life insurance savings plan. It offers a choice of three premium payment term options and guarantees monthly payouts from the end of the premium payment term (PPT) until your policy matures. In the event of an unfortunate event that might lead to total disability or death, your family starts receiving the monthly income, which continues for the period chosen by you.
With Bharti AXA Monthly Advantage, you can build your wealth with yearly non-guaranteed cash bonuses starting from the end of the 1st policy year and get paid out on Maturity, Death, or Accidental Total Permanent Disability. The plan also offers enhanced protection during the policy term along with in-built accidental cover.
A quick honest summary — the strengths and the trade-offs.
Eligibility criteria pulled straight from the policy wording.
| What’s Good Here | What’s Missing |
| Guaranteed Monthly Income | Guaranteed Additions |
| In-built Accidental Total Permanent Disability | No High Sum Assured Rebate |
| Earn Annual Cash Bonuses | No Auto Cover Continuance |
| Flexible Premium Payment or Policy Term | Premium Offset |
| 3 Add-on Riders | Plan Options |
Benefits of Bharti AXA Monthly Advantage Plan
There are various benefits to buying the Bharti AXA Monthly Advantage Plan. Let’s understand each of them in detail:
Guaranteed Monthly Income:
You'll start receiving a Guaranteed Monthly Income after you finish paying the premiums until the policy matures, as long as the policy is active. You can decide how much monthly income you want, and that choice will determine the premium amount you pay.
Death or Accidental Total Permanent Disability (ATPD):
Upon the policyholder's unfortunate death or accidental total permanent disability, the monthly income shall be payable to the nominee from the next policy month onwards. It continues for the next 6, 8, or 12 years, depending on the policy term option chosen at the policy's inception.
Maturity Benefit:
Once you survive till the end of the policy term, you'll receive accrued non-guaranteed annual reversionary bonus (if any) + non-guaranteed terminal bonus (if declared) subject to the policy being in force.
Survival Benefit:
Once you survive till the completion of the premium payment, the guaranteed monthly income on survival will be payable.
Death Benefit under the Plan
Natural Death
If a policyholder passes away during the policy term, the death benefit amount payable to their nominee will be higher than: Sum assured on death + non-guaranteed vested simple reversionary bonuses + non-guaranteed terminal bonus (if declared), or 105% of total premiums paid as on date of death, or Absolute amount assured to be paid on death, or Guaranteed sum assured on maturity. Kindly note that the survival benefit already paid will not be deducted from the death benefit. If the insured person passes away, the death benefit amount will be paid out in equal monthly installments, starting from the next monthly anniversary following the date of death. These payments will continue for the number of months specified in the table. Policy Term Monthly Installments 12 years 72 16 years 96 24 years 144
Accidental Total Permanent Disability
If the policyholder suffers total permanent disability due to an accident, the benefit amount will be payable to the nominee. The benefit amount will be payable immediately or within 90 days from the accident date. The benefit payable will be the same as the death benefit under the policy. The nominee also has the option to take the above-mentioned monthly installments as a lump sum.
Bharti AXA Life Monthly Advantage Plan Policy Details
Policy Revival
You can revive all the benefits under your policy within five years after the default premium's due date. Check out the revival terms & conditions: A written application from you for revival; Satisfactory evidence of insurability. You must pay your premium and interest rate to restore your policy to its total value.
Policy Surrender
If you cannot afford to pay the premium and want to exit the policy earlier, only the surrender value will be payable to you. Under this plan, policy surrender is allowed after a premium payment of two full years’ premium. On policy surrender, you will get the higher of the following: Guaranteed Surrender Value (GSV) Special Surrender Value (SSV)
Policy Loan
To meet your specific financial needs, you can take a loan against your policy's value once it has accrued a surrender value. However, you can only take out a loan of a minimum of Rs. 15,000; the maximum amount you can avail of will be up to 70% of the surrender value.
Key features that make Bharti AXA Life Monthly Advantage stand out.
Guaranteed Income
The plan offers guaranteed income from the end of the premium payment term (PPT) until your policy matures.
In-Built Features
The plan comes with in-built death or accidental total permanent disability coverage.
Cash Bonus
Grow your savings with cash bonuses from the 1st year onwards till the maturity or death of the life insured, whichever is earlier.
Flexible Premium
Flexible premium payment terms allow you to pay premiums at your convenience.
Optional Riders
The plan offers a wide range of optional riders that protect you against death, disability, or disease.
Keep these documents handy when applying for Bharti AXA Life Monthly Advantage.
Photo ID Proof
Photo ID Proof (either of one) - Passport, Aadhaar card, PAN card, Driving license.
Age Proof
Age Proof (either of one) - Passport, Aadhaar card, PAN card, Driving license.
Address Proof
Address Proof (either of one) - Utility bill, passport, voter ID, ration card.
Medical Records
Medical Records of the policyholder if requested.
Income Proof
Income Proof (either of one) - bank statement, last three months' salary slips (if you are salaried).
Here are the key features of the Bharti AXA Life Monthly Advantage.
Conclusion
Now that you're familiar with the features and benefits of the Bharti AXA Life Monthly Advantage plan, you can decide if it's right for you. If you need more info, feel free to contact our insurance experts at PolicyX for advice anytime. With our expert guidance, you will surely find a plan that best fits your requirements.
The 5 most-asked questions about Bharti AXA Life Monthly Advantage, answered.
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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