Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, one of India’s leading trading groups, and AXA, one of the world’s largest insurance companies, today announced the launch of a new product participatory savings plan – Bharti AXA Life Unnati. This plan is designed to provide long term financial stability to individuals with the dual benefit of savings and protection in one plan.
Bharti AXA Life Unnati is a comprehensive product that offers four plan options, flexible premium payment terms and multiple add-ons in terms of endorsements. This allows customers to customize the product according to their needs and life goals.
Speaking on the occasion of the launch of Bharti AXA Life Unnati, Mr. Parag Raja, Managing Director and CEO of Bharti AXA Life, said: “At Bharti AXA Life, we have acquired a culture of perseverance in our approach to provide customers with innovative solutions. . With the changing needs of clients in mind, we have designed Unnati – a comprehensive life insurance plan for clients at every stage of life. It not only offers immediate insured income options and protection up to age 100, but also helps clients take the guesswork out of achieving their key life goals. “
The four plan options offered under this plan are:
Lifetime income option: Provides guaranteed income from year 2 with cash bonuses (if declared) until age 100. This is a “4G” plan that can help cover the expenses of three generations and offers guaranteed returns. Therefore, this plan is suitable for people aged 35-50 who need to care for their parents, children and need extra income.
Possibility of endowment: Offers a flat-rate benefit, allowing the insured to achieve their long-term goals. The plan option also offers two variants: one in which the premiums are waived in the event of the death of the insured and the second in which there is an option for higher life coverage. This is suitable for clients who want to achieve a specific goal with a lump sum at the end of the policy such as a child’s higher education, down payment for a house, enjoying a vacation abroad and more.
Refund option: Offers a guaranteed refund equal to an annualized premium every 4 years during the term of the policy as well as a lump sum at the end of the term of the policy. This is ideal for customers who don’t want blockages for a long time and instead want large returns at regular intervals.
Immediate income option: Provides regular income in the form of cash premiums (if declared), from the 2nd year of insurance and provides a lump sum at maturity. This plan helps increase the client’s income and meet his immediate needs that his salary may not be able to meet.
In all these options, the death guarantee prevails throughout the duration of the contract and in the event of the unfortunate death of the insured, the death benefit is paid to the family (nominee or beneficiary).
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