Bharti AXA Life ULIP Plans

What are ULIP Plans?

Unit Linked Insurance Plans (ULIPs) are financial instruments that combine insurance coverage with investment opportunities. These plans provide policyholders with the dual benefit of life insurance protection and the potential for wealth creation through investment in various market-linked funds. When an individual invests in a ULIP, a portion of the premium goes towards securing life insurance, while the remaining amount is allocated to investment funds of the policyholder's choice, such as equity, debt, or a combination of both.

ULIPs offer tax benefits under Section 80C of the Income Tax Act for the premium paid. Additionally, the maturity proceeds and death benefit are usually tax-free under Section 10(10D). They can be suitable for those seeking insurance coverage and an opportunity for wealth creation through market-linked investments.

Bharti AXA Life ULIP Plans

Below are the types of ULIP Plans sold by the company and their features and benefits.

1. Bharti AXA Life Wealth Maximizer

   Bharti AXA Life Wealth Maximizer is a unit-linked, non-participating individual investment plan that offers a unique combination of life cover, wealth creation, and charge transparency.
   Key features of the plan:

   • Return of All Charges: 118% of all charges applicable during the premium payment term viz Mortality charges, Premium allocation charges, Fund management charges and Policy administration charges are refunded back into the Policy Fund Value.

   • Loyalty Additions: As an incentive for maintaining your policy, Wealth Maximizer offers loyalty additions, a percentage of your fund value added back to your policy, further boosting your wealth accumulation.

   • Flexibility in Payment and Term: Choose premium payment options and policy terms that suit your budget and financial goals. Whether you prefer monthly, quarterly, yearly, or lump sum payments and a term length of 5, 10, 15, or 20 years, there's a plan configuration for you.

   • Tailored Investment Strategies: Optimize your investment journey with two distinct strategies: Dynamic Fund Allocation, which automatically adjusts your fund allocation based on market conditions, and Systematic Transfer Plan, which allows you to gradually shift funds from equity to debt over time, securing your accumulated wealth. You can also select from a range of investment funds matching your risk appetite and financial objectives.

   • Tax Benefits: Enjoy potential tax benefits on premiums paid and received, subject to prevailing tax laws. Remember, these benefits are subject to change, so consult a tax advisor for the latest information.

   

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2. Bharti AXA Life Wealth Pro Plan

   Bharti AXA Life Wealth Pro Plan is an individual-linked life insurance cum savings plan that offers you a comprehensive financial solution. It provides life cover up to 10 times your premium while helping you build wealth over the long term. 

   The plan also comes with a number of features and benefits, including:

   • You can choose from two variants:

     • Growth Variant: This variant focuses on wealth creation and market-linked returns.

     • Legacy Variant: This variant provides additional benefits for your family in case of your untimely demise. It offers guaranteed income for your loved ones along with market-linked returns on your investment.

   • Wealth Booster: This feature helps you grow your wealth further by adding additional units to your policy based on your investment performance.

   • Multiple Investment Strategies: You can choose from a variety of investment strategies to suit your risk appetite and investment goals. 

   • Tax benefits: You can avail tax deductions on premiums paid and tax-free maturity benefit under this plan.

   Eligibility:

   Parameter	Eligibility
   Entry Age	Minimum 0 to Maximum 65 years
   Maturity Age	Maximum 99 years
   Policy Term	10 years, 15 years, 20 years
   Sum Assured	5 years, 7 years, 10 years, 15 years, 20 years
   Premium Payment	Annual, Semi-annual, quarterly, monthly

   

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3. Bharti AXA Life Grow Wealth

   Bharti AXA Life Grow Wealth is a Unit Linked Insurance Plan (ULIP) that combines the benefits of life insurance with the potential for wealth creation through market-linked investments. It is designed to offer:

   • Investment Tenure: Choose the investment duration that suits your needs, from short-term to long-term.

   • Premium Payment: Pay premiums in a single lump sum, for a limited period, or throughout the policy term.

   • Life Coverage: Select life coverage for one individual (Single Life) or two individuals (Joint Life).

   • Loyalty Additions: Receive additional units at the end of each policy year from the 6th year onwards, boosting your final payout.

   • Multiple Fund Options: Choose from 8 funds with varying risk-return profiles to match your investment goals.

   • Zero Premium Allocation Charges: Invest every penny of your premium directly into your chosen fund.

Conclusion

Bharti AXA Life ULIP plans offer a promising avenue for wealth creation with a built-in life cover. However, a thorough understanding of the associated charges, market risks, and alternative options is crucial before making an informed decision. Consult a financial advisor to assess your situation and choose the plan that aligns with your unique needs and risk profile.