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Insurance Company
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Bharti Axa Life Insurance Company Ltd
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Plan Name
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Bharti AXA Spot Suraksha
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Plan Nature
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ULIP
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Plan Category
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Protection Plan
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UIN No.
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130L015V01
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About Plan
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Spot Suraksha helps you create a pool of wealth to meet your long-term needs, with an added advantage of simplified buying process. In this plan you can enjoy the Flexibility of partial withdrawals after fifth Policy Year, cover continuance option after seven policy years. There is no medical examinations required in this scheme.
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Minimum Entry Age
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5 Yrs
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Maximum Entry Age
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55 Yrs
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Maximum Maturity Age
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70 Yrs
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Minimum Premium
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Rs,12000
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Maximum Policy Term
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15 YRS
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Benefits
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| Particulars | Description |
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Maturity Benefits
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On maturity, the Policy Fund Value on the date of maturity plus the Guaranteed Special Addition is paid to you.
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Death Benefits
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In case of an unfortunate event of death in the first Policy year higher of 50% of the sum assured or Market Index Factor annualised Premium, from Second Policy year onwards higher of Sum assured under the policy (net of partial withdrawals made from regular premium's Policy Fund Value in the 12 months prior to death) or The Policy Fund Value plus the Guaranteed Special Addition the sum assured is calulated as five times the Annualised Premium.
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Switch Benefit
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You can change the allocation of the various investment funds in your policy as per your changing financial priorities and objectives. The minimum value of a switch should be Rs 2,500. Four switches in a policy year are free.
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Partial Withdrawal Benefit
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You can withdraw money from your Policy Fund Value anytime after completion of five policy years. Each partial withdrawal should be a minimum of Rs 5,000 and maximum withdrawal amount should not exceed 20% of the Policy Fund Value in that Policy Year.
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Guaranteed Benefit
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A guaranteed Special Addition equal to 130% of annualised premium in the first policy year is added in the Policy Fund Value at maturity or death, whichever is earlier.
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Tax Benefits
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| Section | Description |
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SEC 80 C
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Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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You may want to take advantage of Bharti AXA Life's fund management expertise even after maturity of your policy. You can avail of any of the following options at maturity: I. Take entire maturity proceeds (Policy Fund Value + Guaranteed Special Addition) as Lump sum payment on maturity; or II. Take the maturity proceeds (Policy Fund Value + Guaranteed Special Addition) at regular intervals in instalments over five years after the maturity date (extended maturity period). The value payable at such intervals will be calcaulated at the Unit Price as on the relevant date. III. A combination of the above mentioned two optionsHowever, at any time during the extended maturity period, you can withdraw the balance available Policy Fund Value as on that date. Applicable fund management charges will be levied during the extended maturity period. Please note that during the extended maturity period, the investment risk in the investment portfolio is borne by the policyholder. The Policyholder is not entitled to avail of any life insurance benefit or opt for partial withdrawals or switches between Investment Funds during this period
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You can withdraw money from your Policy Fund Value anytime after completion of five policy years. Each partial withdrawal should be a minimum of Rs 5,000 and maximum withdrawal amount should not exceed 20% of the Policy Fund Value in that Policy Year. Only two partial withdrawals are allowed in a Policy Year, which are free of charge. In case the Policy Fund Value becomes less than one year's Annualised Regular Premium after the Partial Withdrawal, the Policy will be terminated
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This option entitles you to continue your Life Insurance benefit if you are unable to pay premium after seven completed policy years. In case discontinuance of premium payment has been opted by you, by submitting a written notice to the Company, no further regular premiums or top up premiums can be paid by you. In case this benefit is opted for, the policy will remain in effect by deducting applicable policy charges. However, the minimum Policy Fund Value at all time, should be greater than one year's annual regular premium, failing which the policy shall be terminated and the surrender value will be paid out. The Guaranteed Special Addition will be paid out at maturity or death even on availing the Cover Continuance Option.
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Boost your savings anytime after the first policy year. The minimum amount of a single top up is Rs 5,000. At any point during the policy benefit period total amount of top up cannot be more than 25% of total regular premium paid till that date. Top up premium has no effect on your sum assured
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You can change the allocation of the various investment funds in your policy as per your changing financial priorities andobjectives. The minimum value of a switch should be Rs 2,500. Four switches in a policy year are free, beyond which a charge of Rs100 per switch is levied
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Spot Suraksha is a unit linked insurance product, which offers you an instant insurance protection and benefit of wealth creation in the long-term.
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A Guaranteed Special Addition equal to 130% of annualised premium in the first policy year is added in the Policy Fund Value at maturity or death, whichever is earlier
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On maturity, the Policy Fund Value on the date of maturity plus the Guaranteed Special Addition is paid to you
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Grow Money Fund
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Safe Money Fund
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Save 'n' Grow Money Fund
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Steady Money Fund
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Particulars
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Range
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Grow Money Fund
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Cash & Money Market Instruments
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0% - 40%
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Equities
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80% - 100%
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Safe Money Fund
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Corporate Bond & Bank Deposits
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0% - 60%
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Govt Bonds & Securities
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0% - 60%
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Cash & Money Market Instruments
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0% - 40%
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Save 'n' Grow Money Fund
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Equities
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0% - 60%
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Corporate Bonds
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0% - 50%
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Government Bonds & Securities
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0% - 40%
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Cash & Money Market Instruments
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0% - 40%
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Steady Money Fund
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Cash & Money Market Instruments
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0% - 40%
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Government Bonds & Securities
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20% - 80%
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Corporate Bonds
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20% - 80%
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Grow Money Fund
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21-May-13
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18.3421
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Safe Money Fund
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21-May-13
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12.8027
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Save 'n' Grow Money Fund
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21-May-13
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17.8046
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Steady Money Fund
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21-May-13
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17.0735
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Grow Money Fund
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Safe Money Fund
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Save 'n' Grow Money Fund
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Steady Money Fund
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29-Jun-09
21:56
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Sandeep Nanda as new CIO for Bharti AXA Life
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10-Jun-09
10:41
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Critical Illness Policy from Bharti Axa General
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04-Jun-09
09:59
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Targeting Rs 1,000 Cr revenue during this FY : Bharti AXA Life
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04-Jun-09
08:50
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Bharti AXA Life Insurance has launched Guarantee Builder
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19-May-09
11:45
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Pay premium through mobile phones : Bharti AXA
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22-Apr-09
13:56
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New CEO for Bharti AXA General Insurance
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03-Apr-09
08:45
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Bharti Axa General infusing Rs 120 Cr in FY10
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20-Mar-09
10:23
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Bharti AXA opens branch office in Kochi
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11-Feb-09
10:40
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Pension Plans Contribute
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29-Jan-09
16:51
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Insurers to inform consumer on bouncing of cheque
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21-Jan-09
14:10
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Bharti Axa General Insurance plans to raise authorised capital
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17-Jan-09
12:02
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Bharti AXA's plans
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16-Jan-09
10:26
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Bharti Axa to inject Rs 645 cr
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13-Jan-09
12:59
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Bharti AXA General Insurance gets extra capital infusion of Rs 60cr
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13-Jan-09
09:35
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Bharti AXA expands capital base
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15-Dec-08
14:20
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Bharti AXA General Insurance launching a new motor insurance policy
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29-Nov-08
11:10
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Slowdown may hit Insurer Axa future earnings
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04-Nov-08
11:06
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Bharti AXA Life aims premium of Rs 1,000 cr by next year
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03-Aug-08
10:20
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Bharti AXA Life Insurance Launches Its 100th Branch In India
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18-Mar-08
16:50
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Bharti AXA Life Insurance launches operations in Goa
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