November 23, 2024 04:33 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
'Third World War has begun:' Ex-Ukraine military commander-in-chief Valery Zaluzhny | UK-India Free Trade Agreement negotiations to resume in early 2024 | UK can arrest Benjamin Netanyahu if he visits country based on ICC warrant | Centre to send over 10,000 additional soldiers to violence-hit Manipur amid fresh violence | Chhattisgarh: 10 Maoists killed during encounter with security forces in Sukma
Bharti AXA Life introduces insurance with guaranteed returns, maturity benefits in COVID times
Bharti AXA Life

Bharti AXA Life introduces insurance with guaranteed returns, maturity benefits in COVID times

| @indiablooms | 16 Dec 2020, 06:48 pm

Kolkata/IBNS: Leading private insurer Bharti AXA Life Insurance on Wednesday announced the launch of its novel plan - Bharti AXA Life Guaranteed Income Pro - that offers life insurance along with maturity benefits and guaranteed returns.

This non-linked, non-participating savings insurance plan is designed to provide financial stability to individuals and ensure policyholders of future income requirements with dual benefits of savings and protection.

The new plan empowers policyholders with fi­nancial returns, fulfills the need to secure their fi­nancial obligations and helps achieve goals like child’s education or marriage, retirement, a holiday, retirement income or a supplementary income.

Bharti AXA Life Insurance MD and CEO Parag Raja said, ‘’We designed Guaranteed Income Pro as an innovative solution that provides life insurance coverage and benefits of a savings product. The hallmark of our unique offering is the sound financial returns amid uncertain markets. It not only offers flexible short, medium and long-term income options but also helps people meet different financial needs at various milestones of life.’’

The unique plan takes care of fi­nancial goals of policyholders by giving flexibility to choose from Endowment and Income options, which offer promising benefi­ts and help them sail through uncertain times.

Under Endowment Option, the insured will get lump sum benefits at maturity with guaranteed additions boosting annual corpus from the first year. The guaranteed addition of 10 per cent of one annualized premium shall be accrued from the end of first policy year till the end of policy tenure.

The new plan returns all premiums paid at the end of the payout period under Long-term and Deferred Income variants. Besides, under Long-term Income, the policyholders also get income for an income payout period of 25 or 30 years following the completion of policy term. The income payout under Long-term Income option ranges from 25.7 per cent to 90 per cent of annualized premium. This enables customers to supplement their income for the golden years.

The Short-term Income option offers maturity benefits in the form of income which is defi­ned as a percentage of one annualized premium, payable for ­fixed period of 10, 11 or 12 years upon payment of all due premiums and life assured surviving the policy term. The income payout Short-term Income option ranges from 165.8 per cent to 197.9 per cent of the Annualized Premium. This helps the life assured achieve financial milestones.

The Deferred Income plan provides assured income for an income payout period of 25 years after the completion of policy term. The income payout under Deferred Income option ranges from 43 per cent to 74 per cent of the Annualized Premium under the Limited Pay option. It allows the policyholders to meet their recurring expenses for a defined period.

''With Bharti AXA Life Guarantee Income Pro, we are helping people remove uncertainties from financial planning through an assurance of certain income. This is ideal for risk-averse individuals who aim to generate a substitute source of regular income and achieve assured financial returns for tomorrow,'' Parag added.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.