Bharti AXA Life Wealth Pro Plan: Triple benefit of savings, insurance and returns

Bharti AXA Life Insurance launched ‘Bharti AXA Life Wealth Pro’. It is a unit-linked personal insurance plan, in which regular savings, better security and triple benefit of market-linked returns are available. Bharti AXA Life Insurance is a joint venture of Bharti Enterprises and AXA, one of the world’s largest insurance companies. This new value-loaded ULIP product will help customers achieve their financial goals. In ‘Bharti AXA Laugh Wealth Pro’, customers will get the triple benefit of savings, insurance and market-linked returns.

Protection up to the age of 99

Under this plan, from the age of 91 days to the age of 99 years, protection and wealth creation benefits will be available. Its benefit can be paid in a lump sum or in a limited period by paying the premium. Parag Raja, MD and CEO of Bharti AXA Life Insurance, says that Bharti AXA Life Wealth Pro is an investment solution focused on security to address the problem of choosing various security and investment products. In this, customers get many other benefits. In this, policyholders will be able to take risk cover along with investment.

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Two variants will be found in the plan: Growth and Legacy

• Bharti AXA Life Wealth Pro has two variants – Growth and Legacy. In the growth variant, customers will get a policy term of three years, 10 years, 15 years or 20 years. They will be able to pay a premium for one time or 5 years, 7 years, 10 years, 15 years or 20 years. If the customer pays the premium once, then he can avail higher life insurance cover with 10 times more life cover.
• Legacy, the variant of inheritance, gives the policyholder a life cover of 10 times the annual premium over the entire policy period up to the age of 99 years. Apart from this, a legacy fund is also available to meet the needs of their loved ones. Under this, the customer only has to pay a premium for 5 years, 7 years or 10 years or till the age of 60 years.
• Part of the fund value is added as a wealth booster for the applicable policy. Wealth boosters are available in both variants and increase the fund value on the maturity of the policy by allocating extra units in the policy at the end of the fifth policy year.
• Loyalty additions are available in the legacy plan from the 10th policy year. In addition to the growth variant, the deducted mortgage and premium allocation fees are refunded on maturity during the policy period.

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Will customers also get these benefits?

• Customers can choose two automatic Workplan of investment. Customers can choose Dynamic Fund Allocation or Systematic Transfer Plan. Or the policyholder can choose a self-managed workplan, in which he can choose any one of the seven funds based on his investment objective and risk-return.
• The company provides partial withdrawal facility to the policyholder at the end of the lock-in period.
• In this plan, the automatic partial industrial facility is also available. This option is only available in the legacy variant, in which customers can receive the annual pay-out as per their request for the tenth policy year or thereafter.
• Apart from maturity and tax benefits, ULIP also offers several alternative rider benefits. These include Bharti AXA Life Hospital Cash Rider, Bharti AXA Life Accidental Death Benefit Rider, Bharti AXA Life Premium Weaver Rider and Bharti AXA Life Term Rider. They increase the protection cover. These can be availed by paying extra premium.
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