How can I provide for a worry free future for my loved ones?

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1 life insurance How can I provide for a worry free future for my loved ones? Bharti AXA Life Family Income Secure A unique plan that provides your family with income support to meet the regular household expenses should something unfortunate were to happen to you

2 What should I know about Bharti AXA Life Family Income Secure? We understand that you wish to provide the best for your loved ones at key stages of their lives. You also wish that their needs are always taken care of even if you are not around. Which is why we bring you Bharti AXA Life Familly Income Secure a plan that provides your family with income support to meet the regular household expenses should something unfortunate were to happen to you. What are my advantages with Bharti AXA Life Family Income Secure? Financial Security of your family: In case of an unfortunate event, the plan ensures that the annual income under the policy is paid to your family every year for the next 20 years irrespective of the benefit term Cash Back on Maturity: On maturity we will return 100% of the total premiums paid during the benefit term Can you explain to me the Key Benefits of Bharti AXA Life Family Income Secure? Life insurance benefit The life insurance benefit is provided by the annual income as chosen by you at inception in the product. In case of the unfortunate event of death of the life insured, the Policyholder or the nominee will be entitled to receive the Annual Income (as opted at inception) every year for the next 20 years from the date of intimation of death. The first instalment of Annual Income will be paid on admission of claim and the remaining instalment will be paid every year on a date coinciding with policy anniversary either by ECS or through cheque as opted. For e.g. In case the policyholder choses a 10 year policy term, the Life insurance benefit will be the annual income paid for 20 years from the date of death of the life insured. In case of death of the nominee, the discounted value of all future outstanding annual income benefit will be paid to the legal heirs of the policyholder. 1

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4 The policyholder/nominee also has the option to take this benefit by way of a single lump sum amount. In this case, the total lump sum benefit will be paid by calculating the annual income payable for 20 years at a present value factor that will be declared by the company from time to time. Maturity Benefit Along with the life insurance benefit, Family Income Secure Benefit offers you a return of 100% of the total premiums paid, on maturity of the policy. Surrender Benefit Bharti AXA Life Family Income benefit acquires a surrender value after premiums have been paid for first three policy years. Once, the plan acquires a surrender value, you have the option to surrender (exit) the policy. At any point of time the surrender value is equal to 30% of all the premiums paid till that date, excluding the first years premium and any extra premium paid under this policy. Surrender shall extinguish all rights and benefits under the Policy. Tax Benefits Tax benefits are as per Income Tax Act 1961 and are subject to amendments from time to time. Service tax and Education Cess will be levied as per prevailing tax laws. Reinstatement of the policy: If the premiums are discontinued during the Policy Benefit Period, the policy shall lapse. In such a situation, you can revive the policy by paying the due premiums with the due interest within 2 years of the date of discontinuance of the premium. In case of a death during the reinstatement period, no Death Benefit will be payable. If the policy is not reinstated during the reinstatement period, the policy will stand terminated and no policy benefits will be payable. How does the product work for you? Family Income Secure is a simple, long-term and affordable insurance plan that offers return of premium on maturity. The product works as follows; 1. You choose the annual income benefit at inception (subject to the specified minimum amount). Once annual income is chosen, it will remain unchanged throughout the policy term. The available policy terms are 10, 15 and You pay the premium (Base Policy premium) regularly as per the mode of premium payment chosen by you. 2

5 3. In case of the unfortunate event of death of the Life Insured during the policy term, the Company shall pay the annual income to the nominee for 20 years from the date of death. Eligibility criteria Parameter Eligibility Criteria Policy term options available 10 years, 15 years & 20 years Premium Payment Term Minimum age at entry Maximum age at entry Maximum age at maturity Minimum premium (Rs.) Premium Payment Modes Same as policy term chosen 18 years 60 years 70 years for 10 year term 75 years for 15 year term 80 years for 20 year term Rs.2500 for annual mode Rs.1300 for semi - annual mode Rs.675 for Quarterly mode Rs.225 for monthly mode. * ECS is available only for quarterly & monthly modes Annual, Semi annual, Quarterly* & Monthly* Premium The Family Income Secure annual premium rate per 1000 Annual Income will be as follows: Annual Income (in Rs.) 50, ,000 Age at Entry/ Policy Term 10 years 15 years 20 years Ser vice tax, cess and surcharge will be applicable as per the prevailing rates. 3

6 SECTION 41 OF INSURANCE ACT 1938 No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy nor shall any person taking out or renewing or continuing a policy accept any rebate except one such rebate as may be allowed in accordance with the published prospectus or tables of the Insurer. SECTION 45 OF INSURANCE ACT 1938 No policy of life insurance shall after the expiry of two years from the date on which it was effected, be called in question by an insurer on the ground that statement made in the proposal for insurance or in any report of a medical officer, or referee, or friend of the insured, or in any other document leading to the issue of the policy, was inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the policyholder and that the policyholder knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose. Provided that nothing in this Section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent proof that the age of the Life insured was incorrectly stated in the proposal. 4

7 Terms & conditions This product brochure is indicative of terms, conditions, warranties and exceptions contained in the Insurance Policy Please refer to the policy bond for further details. In the event of conflict, if any, between the terms and conditions contained in this brochure and those contained in the policy bond, the terms and conditions contained in the policy bond shall prevail Suicide: If the Life Insured, whether medically sane or insane, commits suicide resulting in death directly or indirectly as a result of such suicide within A) one year of the Issue Date; or B) one year of the date of the latest reinstatement of the Policy, Then in the above cases, the Policy shall be void and the Company shall refund the premium paid towards the Policy as on the date of intimation of death Free-look Option: If you disagree with any of the terms and conditions of the Policy, then you have the option to return the original Policy Bond along with a letter stating reasons for the objection within 15 days of receipt of the Policy Bond ( the free look period ). The Policy will accordingly be cancelled and an amount equal to the premium received, less stamp duty and underwriting expenses incurred by The Company will be refunded to you. All Your rights under this Policy shall stand extinguished immediately on the cancellation of the Policy under the free look option Bharti AXA Life Family Income Secure is the name of the traditional insurance product. The name of the product does not in any way indicate the quality of the product, its future prospects This is a non participating Policy, i.e. the Policy does not provide for participation in the distribution of surplus or profits that may be declared by The Company Insurance is the subject matter of solicitation Bharti AXA Life Insurance Company Limited, Unit no 601 & 602, 6th Floor, Raheja Titanium, Off Western Express Highway, Goregaon (E), Mumbai UIN: 130N038V01 5

8 Get in touch with us For any fur ther queries regarding the product, or any other feedback, please contact your Financial Advisor OR The Customer Ser vice Representative of The Company during business hours (9:00 a.m. to 9:00 p.m.) at the following number: SMS SERVICE to We will get in touch within 48 hours to address your query us: Visit us: Your Bharti AXA Life Advisor Bharti AXA Life Insurance Company Ltd. Regd. Office Address: Unit & 602, 6th Floor, Raheja Titanium, Off Western Express Highway, Goregaon (E), Mumbai Regn. No UIN: 130N038V01. Advt. no.:ii-oct Insurance is the subject matter of the solicitation. 6