Bharti AXA Life Insurance, the private life insurance joint venture between Bharti Enterprises and AXA, the world’s largest insurance company, announced the launch of a unique traditional non-participating plan, Bharti AXA Life Secure Income Plan.
The plan has a limited premium payment term and at the end of the term, the policy holder starts receiving tax free guaranteed income until maturity. At maturity, the policyholder receives sum assured along with guaranteed additions. Bharti AXA Life Secure Income Plan is completely compliant with the new IRDA guidelines for Traditional Plans.
Announcing the launch, Sandeep Ghosh, MD & CEO, Bharti AXA Life Insurance said, “Locking in your investments in guaranteed instruments is very relevant in today’s inflationary and uncertain macro environment. Keeping this in mind, Bharti AXA Life has introduced Secure Income, a plan that not only provides a guaranteed monthly income to fulfill short term needs of the customer but also provides a lump sum amount at maturity to meet their long term goals.”
In the unfortunate event of death of the life insured, the beneficiaries get the highest of sum assured plus guaranteed additions accrued till date of death or 105% of premiums paid or 13 times annual base premium (for a policy term of 20 years).
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