Bharti AXA Child Plan

What is Bharti AXA Child Plan?

Bharti AXA Child Plan is a type of insurance policy designed to meet the financial needs of your child as they grow up. It offers a combination of life insurance coverage, savings, and investment benefits. 

Key Features of Bharti AXA Child Plan

• Guaranteed Payouts: Receive lump sums at key stages like education milestones or maturity.

• Investment Potential: Grow your child's future funds with market-linked returns (in some plans).

• Flexibility: You can choose from various policy terms and premium payment options to suit your needs.

• Choice of Payout Options: Choose between money-back or endowment options depending on your needs.

• Flexible Policy Term: Select a policy term (between 11 and 21 years) that aligns with your child's education milestones.

Benefits of Bharti AXA Child Plan

• Premium Waiver Benefit: If you pass away during the policy term, all future premiums are waived off, and the guaranteed benefits are still paid to your child.

• Maturity Benefit: Upon maturity, your child receives a lump sum amount along with any accrued bonuses.

• Tax Benefits: Enjoy tax deductions on premiums paid (under Section 80C) and tax benefits on maturity amount (under Section 10(10D)).

• Death Benefit: In case of the policyholder's unfortunate demise, the plan continues and the sum assured is paid to the nominee, ensuring the child's financial needs are met.

• Potential Upside with Bonuses: Some plans offer non-guaranteed bonuses that can accrue and increase the payout amount.

• Riders Available: Add optional riders for critical illness, disability, or hospitalization coverage.

List of Bharti AXA Life Child Plan

Bharti AXA Life Insurance Company offers child plans that are packed with different benefits to provide complete future protection to the child. Let us understand these plans in detail:

Details of Bharti AXA Child Plans:

Bharti AXA offers a variety of child plans. Let us learn the details below-

1. Bharti AXA Life Child Advantage Plan

   The Bharti AXA Life Child Advantage Plan is a traditional participating child insurance plan that offers guaranteed payouts at key milestones and waives off all future premiums in case of an unfortunate event to the life insured parent.

   Features of Bharti AXA Life Child Advantage Plan:

   • Guaranteed payouts: The plan offers guaranteed payouts at 18th, 20th, and 22nd birthdays of the child and maturity.

   • Premium waiver benefit: If the life insured parent dies during the policy term, all future premiums are waived off and the plan continues to provide benefits.

   • Bonuses: The plan participates in the profits of the company, and bonuses are declared and added to the policy if any.

   • Benefit options: Choose Endowment (lump sum) or Money Back (guaranteed payouts + lump sum).

   • Policy term: You can choose a policy term between 11 and 21 years.

   • Premium payment term: You can choose to pay premiums for a limited period (5 years less than the policy term) or throughout the policy term.

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2. Bharti AXA Life Guaranteed Wealth Pro

   Bharti AXA Life Guaranteed Wealth Pro is a savings-cum-protection plan offered by Bharti AXA Life Insurance. It is a traditional endowment plan that provides guaranteed benefits upon maturity or death of the life assured.

   Features of Bharti AXA Life Guaranteed Wealth Pro:

   • Guaranteed benefits: The plan offers guaranteed benefits upon maturity or death of the life assured.

   • Plan Variants: 

     • Endowment option: This option provides a lump sum payout at the end of the policy term.

     • Income options: These options provide a regular income payout during the chosen income payout period. 

     • Other Options: There are various income options available, such as short-term income, long-term income, deferred income, early income, and long-term early income.

   • Choice of benefits: You can choose from a variety of benefits, including a lump sum amount at maturity.

   • Loyalty additions: You can earn loyalty additions on your premiums, which can boost your returns.

3. Bharti AXA Life Shining Stars

   Bharti AXA Life Shining Stars is a child insurance plan offered by Bharti AXA Life Insurance. It is a traditional non-participating non-linked insurance plan that provides life insurance coverage and a guaranteed maturity benefit.

   Features of Bharti AXA Life Shining Stars:

   • Flexible: Choose policy terms (16-30 years) and premium payment terms (5-16 years) to fit your needs.

   • Maturity payouts: Opt for a lump sum or 5 equal annual installments for your child's future expenses.

   • Death benefit: Policy continues even if you pass away, ensuring your child's financial security.

   • Riders available: Add optional coverage for critical illness, accidental death, or premium waiver.

   • Policy loans: Access funds through loans against your policy's surrender value.

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4. Bharti AXA Life Super Series Plan

   The Bharti AXA Life Super Series Plan is a traditional non-participating individual life insurance plan that offers a combination of guaranteed protection and savings. It provides a lump sum payout on maturity, guaranteed money back benefits during the policy term, and death benefit to the nominee in case of the policyholder's death.

   Features of Bharti AXA Life Super Series Plan:

   • Two plan options: You can choose from Super 6 or Super 10 plan, depending on your desired premium payment term and payout period.

   • Guaranteed money back benefits: You receive guaranteed cash payouts every year from the end of the premium payment term till maturity of the policy.

   • Guaranteed maturity benefit: On maturity, you receive a lump sum amount equal to the sum assured on maturity.

   • Maturity Benefit: Get the sum assured on maturity, plus a guaranteed addition.

   • Life Cover: Death benefit equals 11x annual premium or 105% of paid premiums.

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5. Bharti AXA Life Elite Advantage

   Bharti AXA Life Elite Advantage is a traditional non-participating savings and protection oriented life insurance plan offered by Bharti AXA Life Insurance Company. It is designed to provide guaranteed payouts and a lump sum amount at maturity, along with death benefit protection during the policy term.

   Features of Bharti AXA Life Elite Advantage:

   • Guaranteed payouts: 8.5%-9.5% of the sum assured annually after policy term + 100% sum assured at maturity (20 years).

   • Guaranteed Lump Sum Benefit: At the end of the maturity payout period, you will receive a guaranteed lump sum benefit of 100% of the sum assured.

   • Riders: You can opt for additional riders to enhance the coverage of the plan, such as accidental death benefit, critical illness rider, and waiver of premium rider.

   • Death benefit: Higher of sum assured on maturity, 11x annual premium, or 105% of paid premiums.

Summing It Up

The Bharti AXA Child Plan offers a comprehensive solution for securing a child's future, providing financial stability, and ensuring their education and well-being. With its customizable features and investment options, it stands as a reliable choice for parents looking to safeguard their children's future aspirations.