- Only plan in the ULIP category providing 118% return of all charges applicable during premium paying term
- Backed with the bouquet of best performing funds in the market to provide customers with great returns along with life insurance protection
MUMBAI, India, Sept. 21, 2023 /PRNewswire/ -- With the aim of catering to the twin needs of customers, i.e. financial security and wealth creation, Bharti AXA Life Insurance has partnered with PolicyBazaar to launch the Bharti AXA Life Wealth Maximizer (UIN: 130L121V01, A Unit Linked, Non-participating Individual Life Insurance Plan) a one-of-a-kind ULIP plan in the industry. The unit-linked, non-participating individual life insurance plan is the only one in the ULIP category providing 118% 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% on 100% payment of charges.
Along with return of all charges, after the premium payment term, the fund also offers loyalty additions of 0.2% 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 customers with a crucial life cover, 10 times the annual premium, to shield the financial future of their loved ones.
Speaking at the launch of the product, Nitin Mehta, Chief Customer Officer and Head â€“ Marketing, Digital business & Online sales at Bharti AXA Life Insurance said, "Bharti AXA Life Wealth Maximizer has been created with benefits previously unavailable in any ULIP plan, to help our valued customers realize their financial goals, which often change with time and circumstances. Along with life cover, we have put a special emphasis on the capital formation requirement of customers by offering best-in-industry investment funds. As the Indian market continues to achieve stellar growth among other global economies, this plan provides a great opportunity for our customers to compound their wealth and play their part in scripting India's growth story. With PolicyBazaar onboard, we believe this association will enable us to connect with a wider range of customers and deliver the benefits of the product."
Adding to the significance of the product and this partnership, PolicyBazaar's Chief Business Officer, Santosh Agarwal said, "We are truly elated to partner with Bharti AXA Life to bring the Bharti AXA Life Wealth Maximizer plan amongst our precious customers. With our shared synergies and goal to make insurance accessible and simplified for all, 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 a minimum of Rs. 2,000 on the monthly mode. The plan also presents customers with the flexibility to choose from different premium modes according to their convenience, ranging from a monthly to yearly basis.
To ensure optimum returns for the customers, the plan provides customers with a total of eight funds, comprising best-in-class funds in the market that 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 â€” Emerging Equity Fund â€” with an aim to provide long-term capital appreciation through investing in a portfolio of mid-cap companies.
About Bharti AXA Life Insurance
Bharti AXA Life Insurance is a joint venture between Bharti, one of India's leading business groups with interests in telecom, agriculture business and retail, and AXA, one of the worl d's leading organizations with interests in financial protection and wealth management. The joint venture company has a 51% stake from Bharti and 49% stake from AXA. The company has a pan-India presence through its 251 branches and offers a wide range of value for money and need-based life insurance products targeted at individuals and groups.
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