Bharti Axa Life Monthly Income Plan+

Death Benefit

The death benefit is payable if the life insured dies during the term of the policy. The nominee from the next policy month onwards and continues for the next 8, 10 or 15 years,depending on the Policy Term option chosen at the inception of the policy. This payout is made over and above the Monthly Income payouts made before the death of the Life Insured.

Policy Term	Death Benefit Period (in months)	Death Benefit
15 years	96	165% of Monthly Income for Ages <45 150% of Monthly Income for Ages >=45
20 years	120	140% of Monthly Income for all Ages
30 years	180	110% of Monthly Income all Ages


The accrued Non-Guaranteed Annual Reversionary bonuses and Non-Guaranteed Terminal bonus are paid out on death as a lump sum along with the first monthly income Instalment.

Guaranteed Monthly Income

The life insured will start receiving Guaranteed Monthly Income after the completion of the Premium Payment Term, until Maturity, provided the policy is in force. After the completion of the premium payment term, the guaranteed monthly income is paid for 96 months for a 15 year policy term, for 120 months for 20 year policy term and for 180 months for 30 year policy term.

Maturity Benefit

Maturity benefit is payable on  the survival of the Life Assured till the completion of the policy term . At Maturity, you receive Non-Guaranteed Annual Reversionary

Bonus

Non-Guaranteed vested simple Reversionary Bonuses and Non-Guaranteed Terminal Bonus is payable under this plan.

Loan Benefit

Loan facility is available under this plan. The maximum loan amount which can be taken under this policy should not exceed 70% of Surrender Value.

Surrender Value

Minimum guaranteed Surrender Value is 30% of all premiums paid till date, less all guaranteed monthly income pasid till date and excluding any extra premium paid.

Tax Benefit

The plan offers tax benefits under section 80C  and section 10 (10D) of the Income Tax Act,1961.

Following rider is available with this plan

• Bharti AXA Life Hospi Cash Rider 

Let us understand the plan with the case study of Rohit

• Name of Life Insured: Rohit
• Age: 35 years old
• Profession:  salaried individual working with an MNC
• Family Structure: Wife who is a homemaker and a son who is 1 year old.
   

Rohit invest in this plan for a period of 15 years. He wishes to receive Rs 3,000 as Guaranteed Monthly Income. His premium payment term will be 7 years.
 

Plan Benefits:
 

1.Rohit starts receiving Guaranteed Monthly Income of Rs 3,000 by the time his son is 8 years old. With this Rohit can ensure that he fulfills the dreams and needs of his growing son.
 

2. In case something unfortunate happens to him, before Maturity of the policy,he secures his family as they receive Monthly Income of Rs 4,950 until 8 years.