When expanding your family, the first thought that may strike is whether to begin insuring your child during the early years or not, isn’t it? If you are also sailing in the same boat, why must you wait to get insurance?
Bharti AXA Life Insurance has been providing satisfactory plans all these years. Not just for your family, but they have got something for your bundle of joy as well. So, without any wait, let’s find out the advantageous Bharti AXA life child plans in this post.
It is a traditional participating savings plan with an in-built premium waiver advantage that offers you the flexibility to choose between - money back and endowment - depending on the needs and career goals of your child. The plan gives you the flexibility to choose the policy term between 11 years and 21 years.
Also, you get to choose the premium payment type between ‘limited pay’ - where the premium payment term is 5 years lesser than ‘regular pay’, where the premium payment term is equal to the policy term.
|Parameter||Regular Pay||Limited Pay|
|Policy Term||11 to 21 years||11 to 21 years|
|Premium Payment||Term Same as Policy Term||Policy Term minus 5 years|
|Minimum age at entry (age last birthday)||18 Years||18 years|
|Maximum age at entry (age last birthday)||50 years||55 years|
|Maximum Maturity Age (age last birthday)||71 years for Regular pay||76 years for Limited pay|
|Minimum Sum Assured||₹ 25,000||₹ 25,000|
It is a non-linked, non-participating individual savings life insurance plan that offers coverage along with an opportunity to save for your future. The Income option gives you options like - deferred income (which offers short-term, long-term and life-long income options post completion of premium payment term) as well as Early income (which offers you the choice of short-term and long-term income options beginning from the second policy year itself).
Benefits of the plan:
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The endowment life insurance plan is designed to take care of the financial needs of your child. Here, you get the flexibility to opt between multiple premium paying terms and policy terms. There is an inbuilt benefit in case of the death of the parent during the policy term.
The plan gives you guaranteed income which increases every year through-out the payout period and guaranteed periodic lump sums at the start and end of the payout period to fulfil your family's goals. You can a Range of investment duration and returns to choose from, such as - Super 6, Super 7 or Super 10 series.
This plan gives you guaranteed benefits at regular intervals. A percentage of the 'Sum Assured on Maturity' will be paid during the maturity pay-out period as a guaranteed maturity benefit starting from the end of the Policy Term till the end of the 19th year.
Bharti AXA Life Elite Advantage offers different premium payment terms to choose from. Also, you receive tax benefits on the Premiums paid and pay-out benefits received.
|Minimum age at entry (age as on last birthday)||8 years for 10-years Policy Term / 6 years for 12-years Policy Term. The risk coverage will start immediately on policy commencement for all lives including minors|
|Maximum age at entry (age as on last birthday)||65 years|
|Maximum Maturity Age (age as on last birthday)||75 years for 10-years Policy Term / 77 years for 12-years Policy Term|
|Minimum Sum Assured||Depends on the minimum premium|
|Minimum Annualised Premium||₹ 24,000 for 5-years Premium Payment Term / ₹ 15,000 for 7-years Premium Payment Term / ₹ 12,000 for 12-years Premium Payment Term|
|Policy Term||10 and 12 years|
Upon buying this Bharti AXA life child plan, you would have to submit the following documents:
Customer Care Number:
Customer Care Email ID:
SERVICE at 56677
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