Kolkata, Sep 22 (UNI) Bharti AXA Life Insurance, a joint venture between Bharti
Enterprises, one of India’s leading business groups, and AXA, one of the world’s
largest insurance companies, today announced the launch of Bharti AXA Life
Wealth Pro, a unit linked individual insurance plan, that offers triple benefits of
regular savings, enhanced protection and market-linked returns.
The new and value-loaded ULIP helps customers plan and achieve their financial
milestones as per the changing life-stages along with financial security for their
families. The unique proposition of Bharti AXA Life Wealth Pro is that it offers triple
benefits of savings, insurance and investment within a single solution.
‘’We believe it is important for new age customers to exercise goal-based savings
for accomplishing their life and financial goals. To avoid the hassle of choosing from
multiple protection and investment products, Bharti AXA Life Wealth Pro brings out a
protection-oriented investment solution that provides multifold benefits from helping
policyholders plan their finances prudently at different stages of life to providing risk
cover on loss of life. We are confident that our new ULIP shall allow customers to
focus on their life and long-term wealth creation goals with strategic investment
options to maximize savings for their future,’’ said Parag Raja, Managing Director
and Chief Executive Officer, Bharti AXA Life Insurance.
The unique plan provides protection and wealth creation benefits from an early
age of 91 days up to the age of 99 years by paying premiums either for a limited
duration or once at the commencement of the plan.
Bharti AXA Life Wealth Pro has two variants – Growth and Legacy. In Growth
variant, the customers have three policy term choices, 10, 15 or 20 years, and
can pay premium once or for 5, 7, 10, 15 or 20 years. While the customer
chooses to pay premium once, he/she can opt for higher life insurance coverage
of 10 times life insurance cover.
The Legacy variant also provides the policyholder with a life insurance cover of
10 times the annualized premium throughout the policy term up to 99 years of age
and a legacy fund for his/her loved ones to build wealth and fulfill life aspirations.
Under this, the customer has to pay premiums for only 5, 7, 10 or till 60 years of
age.
A percentage of fund value is added as wealth booster for policies in force.
Wealth Boosters are available under both the variants to complement fund value
by allocating extra units to the policy fund at the end of 5th policy year and at
maturity of the policy.
Apart from Wealth Boosters, the plan also encourages the customers to stay
invested for a long-term in the policy by providing loyalty additions from 10th
policy year under the Legacy option.
Further, it returns mortality and premium allocation charges deducted during
the policy tenure at maturity under the Growth variant. They help the customers
maximize their accumulated fund value and boost maturity benefits.
It allows the customers to choose from two automatic investment strategies -
Dynamic Fund Allocation and Systematic Transfer Plan – or the policyholders
may opt for self-managed strategy wherein they can choose from seven funds
in any proportion basis the investment goals and risk-return potential.
The flexibility offered to the policyholders by the company allows liquidity
through partial withdrawals at any time after the completion of lock-in period.
The plan also offers an automated partial withdrawal facility - Systematic
Withdrawal Plan - only under the Legacy variant wherein the customers can
opt to receive an annual payout from 10th policy year or thereafter as per
their request.
Besides the maturity and applicable tax benefits, the ULIP also provides a
host of optional rider benefits - Bharti AXA Life Hospi Cash Rider, Bharti AXA
Life Accidental Death Benefit Rider, Bharti AXA Life Premium Waiver Rider
and Bharti AXA Life Term Rider - to enhance protection cover. They can be
availed by paying additional premium.
‘’In these challenging times, Bharti AXA Life Wealth Pro is not only providing
its valued customers a certainty of regular income and market-linked returns but
also enriching them with benefits as per their needs,’’ Raja added.
UNI BM SJC