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Bharti AXA Life POS Saral Bachat Yojana

Insurance Company	Bharti Axa Life Insurance Company Ltd
Plan Name	Bharti AXA Life POS Saral Bachat Yojana
Plan Nature	TRADITIONAL
Plan Category	Savings & Investment Plan
UIN No.	130N090V01
About Plan	This is a Non Linked Non-Participating Limited Pay Life Insurance Plan. This is a plan that is simple and easy to understand and where all benefits are guaranteed upfront. This plan provides life insurance coverage in case of an unfortunate death so as to provide financial backup to secure your familys future. This plan offers the option to choose from five premium payment terms. It enables you to pay premiums for limited period and receive lumpsum amount on maturity. It also comes with an accidental death benefit which provides a total death benefit of two times the sum assured on death.

Minimum Entry Age	8 Years - for 10 Years Policy Term; 3 Years - for 15 Years Policy Term; (age as on last birthday)
Maximum Entry Age	55 Years - for 10 Years Policy Term; 50 Years - for 15 Years Policy Term; (age as on last birthday)
Maximum Maturity Age	65 Years (for all Policy Terms)
Policy Term	10 Years / 15 Years
Premium Payment Term	5 Years - for 10 Years Policy Term; 6 / 8 / 10 / 12 Years - for 15 Years Policy Term;
Minimum Sum Assured	a)10 Years Policy Term; Rs. 15,602/- - for 5 Years Premium Payment Term; b) 15 Years Policy Term; Rs. 24,018/- - for 6 Years Premium Payment Term; Rs. 30,649/- - for 8 Years Premium Payment Term; Rs. 35,868/- - for 10 Years Premium Payment Term; Rs. 41,295/- - for 12 Years Premium Payment Term; (minimum sum assured is as per maximum age at entry)
Maximum Sum Assured	a) 10 Years Policy Term; Rs. 6,75,753/- - for 5 Years Premium Payment Term; b) 15 Years Policy Term; Rs. 10,00,000/- - for 6 / 8 / 10 / 12 Years Premium Payment Term;
Minimum Premium	Rs. 2,500/-
Maximum Premium	a) 10 Years Policy Term; Rs. 90,909/- - for 5 Years Premium Payment Term; b) 15 Years Policy Term; Rs. 90,909/- - for 6 Years Premium Payment Term; Rs. 77,970/- - for 8 Years Premium Payment Term; Rs. 66,860/- - for 10 Years Premium Payment Term; Rs. 57,990/- - for 12 Years Premium Payment Term;

Benefits

Particulars	Description
Maturity Benefits	In case the life insured survives till maturity and all due premiums have been paid till the date of maturity, Maturity Benefit will be payable to the Policyholder as Sum Assured on Maturity equal to the chosen Sum Assured.
Death Benefits	a. Death Benefit (other than death due to Accident)-During Waiting period of 90 days: In case of the death (other than due to Accident) of the Life Insured during the Waiting Period of 90 days, the Death Benefit payable will be 100% of premiums paid till the date of death, exclusive of applicable taxes. b. Death Benefit (other than death due to Accident)-After Waiting period of 90 days: In case of unfortunate event of death (other than due to Accident) of the Life Insured during the policy term after the expiry of Waiting period of 90 days, the Sum Assured on Death will be payable to the nominee, where the Sum Assured on Death is highest of: i) 11 times annualized premium, or ii) 105% of all premiums paid as on date of death, or iii) Absolute amount assured to be paid on death equal to the sum assured under the policy, or iv) Sum assured on maturity, equal to Sum Assured under the Policy. c. Death Benefit (death due to Accident)-No waiting period is applicable: This is an in-built cover under this Plan where In case of Accidental death of the Life Insured during the Policy term, total Death Benefit payable will be equal to two times of the Sum Assured on Death provided such death was caused directly by such Accident and independently of any physical or mental illness within one hundred twenty (120) days of the date of Accident. It is also clarified that if the Accident occurs during the Policy Term and the death due to the said Accident happens after the expiry of the Policy Term (but within 120 days from the date of Accident), Death benefit will be payable.
Loan against policy	This Policy gives flexibility to take loan from the company. This is only possible if your Policy is in force and has acquired surrender value and shall be subject to terms and conditions.
Surrender Benefit	The policy acquires a surrender value provided if at least two annualized premiums have been paid for 5, 6 and 8 years premium payment term and three annualized premium have been paid for 10 years and 12 years premium payment term. The Guaranteed Surrender Value is a percentage of cumulative premiums paid (excluding any taxes). Your policy will also be eligible for a Special Surrender Value. The surrender value payable will be the higher of Guaranteed Surrender Value or Special Surrender Value. The policy shall be terminated once the Surrender Value is paid.

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Section	Description
SEC 80 C	Tax deduction up to Rs. 1,50,000 of premiums can be claimed under Section 80C of the Income Tax Act, 1961 for premium payments made towards a term insurance policy.
SEC 10 (10)D	As per Section 10(10D) of the Income Tax Act, 1961, any amount received under a Life Insurance Policy, including bonus is exempt from tax.

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