India-based Bharti Axa Life Insurance has introduced a non-linked and non-par life insurance plan, Super Series.
Bharti Axa Life Super Series plan provides a lump sum payout at the end of the premium payment term followed by increasing guaranteed payouts until maturity and a lump sum payout at maturity.
The plan offers a choice between the super six and super ten option depending on desired investment term and returns.
As part of the super six option, the policyholder need to pay premiums for six years. Under the super ten option, the policyholder has to pay premiums for ten years.
The plan allows policyholders to receive cash pay-outs every year from the end of the premium payment term till policy maturity.
The policyholder will secure a lump sum cash pay-out of 50% of the sum assured on maturity, once the premium payment term comes to an end.
It is followed by cash pay-outs of 12% of the sum assured on maturity in the following year and keeps increasing by 3% for all subsequent annual pay-outs henceforth.
In addition, the policy holder will receive maturity benefit along with a guaranteed maturity addition under the plan.
Image: Bharti Axa Life Insurance has introduced Super Series non-linked life insurance plan. Photo: courtesy of Vichaya Kiatying-Angsulee / FreeDigitalPhotos.net.