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BHARTI AXA -- WEALTH CONFIDENT |
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Wealth Confident Plan |
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Wealth Confident is a unit linked life insurance plan from Bharti AXA Life Insurance Company Ltd. This is a non-participating plan. |
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Basic plan parameters |
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Entry age: Minimum – 18 years; maximum – 60 years |
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Maximum age at maturity: 70 years |
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Policy term: 10 years |
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Minimum regular premium: annual – Rs.24,000; semi-annual – Rs.12,000; quarterly – Rs.6,000; monthly – Rs.2,000 |
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Premium paying term is equal to the policy term |
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Minimum top up premium: Rs.5,000 |
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Benefit payments |
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On death of life assured: sum assured, equal to five times of regular annual premium, is payable to nominee. |
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At maturity of policy: accumulated fund value is received by policy holder as a lump sum or in installments, or as combination of both. |
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Policy premium |
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Premium paid / payable decides the value of sum assured. |
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Limited term: premium is payable only for initial five policy years |
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Flexibility: premium payable can be increased or decreased, anytime after completion of two policy years. |
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Top-ups: additional premium payment over and above the regular premium, helps in accumulation of higher fund value, with no effect on sum assured. Total amount of top-up premium cannot be more than 25% of the regular premiums paid. |
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Investment procedure |
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- Premiums paid are netted of premium allocation charge and invested in one of the investment funds or a combination of the funds.
- Unit price of the fund decides number of units to be allocated.
- Monthly fixed charges and mortality charges are deducted from allocated units, by cancellation of units.
- Remaining units, multiplied by the unit price, constitute the investment value of policy.
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Premium allocation rate: varies from 80% to 88% of the premium paid for the first year. For 2nd and 3rd year it is 96% of premium, and for 4th and 5th year it is 98%. |
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Choice of funds: Investment in one or a combination of the following four funds: |
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| Fund |
Objective |
Asset allocation |
Potential risk-return profile |
Grow money |
To earn potentially higher returns over the long term |
Cash & money market instruments: 0% to 20%
Listed equities: 80% to 100% |
High |
Steady money |
To earn steady returns |
Cash & money market instruments: 0% to 20%
Government bonds & securities: 20% to 80%
Corporate bonds: 20% to 80% |
Low |
Protect money |
To obtain capital protection of investments and accumulated wealth |
Cash & money market instruments: 0% to 20%
Government bonds & securities: 0% to 60%
Corporate bonds: 0% to 60% |
Capital protection |
Save 'N' Grow money |
To balance capital appreciation and steady earnings |
Listed equities: 0% to 60%
Cash & money market instruments: 0% to 20%
Government bonds & securities: 0% to 40%
Corporate bonds: 0% to 50% |
Moderate |
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Charges |
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Policy administration charge: a fixed charge of Rs.55 / month, deducted by cancellation of units. |
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Fund Management charge: varies from 1.00% to 1.50% p.a. depending on the choice of the investment fund |
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Mortality charge: levied as per the age of life assured |
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Top-up charge: of 1.5% levied on allocation of top-up premium. |
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Loyalty additions: special additions for 5 continuous years starting from the 6th policy year accrue. |
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Partial withdrawal facility: available, after 3 completed policy years, from the fund value of the policy. |
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Tax benefits |
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Under Section 80C and 10 (10D) available for the plan. |
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