Bharti AXA Life Insurance on Thursday, September 21, partnered with PolicyBazaar to launch Bharti AXA Life Wealth Maximiser (a unit linked, non-participating individual life insurance plan) a one -of -its -kind ULIP plan in the industry.
"The unit-linked, non-participating individual life insurance plan is the only plan in the ULIP category providing 118 percent return of all charges applicable during the premium paying term such as premium allocation charges, admin charges, fund management charges, etc., ensuring a guaranteed refund of 118 percent on 100 percent payment of charges, Bharti AXA said in a statement.
Along with return of all charges, after the premium payment term, the fund is also offering loyalty additions of 0.2 percent of the fund value credited to the fund at the end of each policy year up to maturity to reward the patronage of the customers. The plan, in addition to the significant investment value, also provides the customers with a crucial life cover of 10 times the annual premium to shield the financial future of their loved ones, it said.
Speaking at the launch of the product, Nitin Mehta, Chief Customer Officer and Head – Marketing, Digital business & Online sales at
Bharti AXA Life Insurance said, “Along with life cover, we have put a special emphasis on capital formation requirement of the customers by offering best-in-industry investment funds. As Indian market continues to achieve stellar growth among other global economies, this plan provides a great opportunity for customers to compound their wealth and play their part in scripting India’s growth story."
Adding to the significance of the product and this partnership,
PolicyBazaar’s Chief Business Officer, Santosh Agarwal said, “We believe that this partnership will create value for both the entities and help each other cater to our customers with this uniquely valuable product.”
The maximum maturity age for availing the plan is 65 years across all kinds of premium paying terms. The premium range begins with minimum of Rs 2,000 on monthly mode. The plan also presents the customers with the flexibility to choose from different premium modes according to their convenience, ranging from monthly to yearly basis.
To ensure optimum returns for the customers, the plan provides the customers with a total of eight funds, comprising best-in-class funds in the market which have been among the top-performing funds in the market for past few years. Customers also have the facility to choose any or all of the eight investment funds. Out of the eight funds, Bharti AXA Life recently released its first mid-cap fund – Emerging Equity Fund organization with an aim to provide long-term capital appreciation through investing in a portfolio of mid-cap companies.
(Edited by : Anshul)
First Published: Sept 22, 2023 1:10 PM IST
