Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, one of India's largest trade groups, and AXA, one of the world's largest insurance firms, announced the launch of Bharti AXA Life Unnati, a new product participatory savings plan.
Bharti AXA Life Unnati, according to the company, is a comprehensive product that includes four plan options, a flexible premium payment term, and several rider add-ons. Customers can modify the product to meet their own needs and life objectives.
The plan provides reasonable life insurance coverage as well as savings benefits, allowing you to safeguard your family's future and plan for various life goals.
Key Benefits of Bharti AXA Life Unnati Plan
- Multiple Plan Options
- Waiver of Premium
- Enhanced Protection
- Tax Benefits
- Flexibility in Policy Terms
Bharti AXA Life Unnati is a comprehensive product with four plan options, flexible premium payment terms, and a variety of endorsement add-ons. Customers can personalise the product to meet their own demands and objectives.
The following are the four plan alternatives available under this plan:
This option provides a guaranteed moneyback equivalent to one annualised premium every fourth year during the policy term, as well as a lumpsum payment at the policy's conclusion.
Immediate Income Option
From the second policy year onwards, delivers ongoing income in the form of cash bonuses (if reported), as well as a lump sum payment at maturity.
Whole Life Income Option
Starting in the second year, this option provides a fixed income with cash bonuses (if claimed) until you reach the age of 100. This is a '4G' scheme that can assist cover the costs of three generations while also ensuring a profit.
This option gives a lump sum payment, allowing the policyholder to achieve long-term objectives. The plan option also comes in two flavors: one with premiums waived in the event of the life insured's death, and the other with a larger life cover choice.
Mr. Parag Raja, Managing Director & Chief Executive Officer, Bharti AXA Life, remarked at the launch of Bharti AXA Life Unnati, "At Bharti AXA Life, we have imbibed a culture of being tenacious in our approach to serve clients with innovative solutions." We created Unnati, a complete life insurance plan for customers at all stages of life, with evolving customer demands in mind. It not only provides instant guaranteed income options and security up to the age of 100, but it also assists consumers in achieving important life goals by removing uncertainty. We will continue to harness innovation and grow on our objective to help clients.
In all of these options, death cover applies throughout the policy term, and the death benefit is paid to the family in the event of the life insured's untimely death (nominee or beneficiary).