Bharti AXA Life Insurance, the private life insurance joint venture between Bharti Enterprises and AXA, the world’s largest insurance company, introduces a unique traditional participating endowment plan - Bharti AXA Life Flexi Save. The plan provides the policyholder a lump sum benefit at maturity with life insurance cover. This product also provides flexibility to the customer to modify the policy maturity date and withdraw their savings with full maturity benefits, based on their needs.
Announcing the launch, Sandeep Ghosh, MD & CEO, Bharti AXA Life Insurance said, “Bharti AXA Life Flexi Save is the first product launch as per the new IRDA guidelines on traditional plans. The plan offers policyholders the chance to withdraw their savings at life stages best suited to them, which would assist them in achieving their long term goals in life.”
The policyholder can decide to withdraw his savings anytime during the Flexi benefit period (i.e., the last 10 years of the policy term) and avail the maturity benefits (100% of Sum Assured plus accrued reversionary bonus till date plus terminal bonus, if any). In the unfortunate event of death, the policyholder or nominee shall receive higher of either sum assured or 105% of premiums paid till date of death or a multiple of Annual Base Premium.
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