Bharti AXA Life Guaranteed Income Pro

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Bharti AXA Life Guaranteed Income Pro is a savings plan which also offers the benefits of a life cover. The plan is available in 2 variants namely Endowments Option and Income Option. Under the Endowment Option, you get a lump sum amount on maturity with guaranteed additions equivalent to 10% of your annualised premium to your savings from the first policy year till the end of the policy term. Whereas, under the Income Option, you receive regular income for a chosen payout period.

This life insurance plan offers 4 optional rider benefits namely Hospi Cash Rider, Accidental Death Benefit Rider, Premium Waiver Rider, and Term Rider to keep you protected in case of any unfortunate event. The plan also offers an option for policy loan to help you meet sudden financial requirements.

Best Features of Bharti AXA Life Guaranteed Income Pro

Following are the noteworthy features of Bharti AXA Life Guaranteed Income Pro:

  1. Plan Variants - On the basis of the benefit payout options, the plan is available in 2 variants - Endowment Option and Income Option. The Income Option further offers the choice of Immediate Income and Deferred Income.
  2. Policy Term- The plan offers 4 policy terms options of 15, 19, 23, and 29 years to help you invest your money as per your suitable time horizon.
  3. Policy Loan- If the plan has acquired the surrender value, you can avail a policy loan of up to 70% of the surrender value of your policy at an interest of 10.40% p.a. The minimum amount of loan which can be availed is INR 15,000.
  4. Rider Options- The plan provides a choice of 4 optional riders namely Hospi Cash Rider, Accidental Death Benefit Rider, Premium Waiver Rider, and Term Rider.
  5. Policy Revival - A lapsed or paid-up policy can be revived within 5 years from the date of the first unpaid premium.

Benefits of Bharti AXA Life Guaranteed Income Pro

Bharti AXA Life Guaranteed Income Pro provides the following benefits to its investors:

1. Maturity Benefit

In case of survival of the life assured till the end of the policy term, a maturity benefit is paid to the life assured as per the chosen plan variant - 

  • Endowment Option

Under this option, an aggregate of the maturity sum assured and accrued guaranteed additions is paid as the maturity benefit. The guaranteed additions are equivalent to 10% of the annualised premium and are added to your savings every year starting from the first policy year. Please note, guaranteed additions are not available with single premium plans.

  • Income Option

Under this option, the maturity benefit is paid in accordance with the income option chosen by you.

  • Immediate Income - Under this option, the payout of the maturity benefit depends on the tenure of your income payout period chosen by you -
  • Short Term Income - The maturity benefit is paid as a percentage of the annualised premium for a fixed period of 10, 11, or 12 years as selected by you.
  • Long Term Income - The maturity benefit is paid as a percentage of the annualised premium for 25 or 30 years after the end of the policy term. Also, after the end of payout period, all the paid premiums are returned to you.
  • Deferred Income -  Under this option, you are entitled to receive guaranteed income for a fixed period of 25 years after the completion of the policy term. The deferment period of 5 to 10 years starts from the end of premium payment term to the end of the policy term. Also, at the end of the income payout period of 25 years, all the paid premiums are returned to you.

2. Death Benefit

In case of unfortunate demise of the life assured, the death benefit is paid to the nominee as per the plan variant chosen -

  • Endowment Option
Single Pay (Less Than INR 50,000)Single Pay (INR 50,000 and more)Limited Pay and Regular Pay

The highest of the following is paid as the death benefit - 

  • 10 times of the single premium
  • 105% of the total premiums paid till the date of death
  • Death sum assured

The highest of the following is paid as the death benefit - 

  • 10 times of the single premium
  • 105% of the total premiums paid till the date of death
  • Death sum assured

The highest of the following is paid as the death benefit - 

  • 11 times of the annualised premium
  • 105% of the total premiums paid till the date of death
  • Death sum assured
  • Income Option
Single Pay Limited Pay and Regular Pay

The highest of the following is paid as the death benefit - 

  • 1.25 times of the single premium
  • 105% of the total premiums paid till the date of death
  • Death sum assured

The highest of the following is paid as the death benefit - 

  • Death Benefit Multiple times of the annualised premium
  • 105% of the total premiums paid till the date of death
  • Death sum assured

Bharti AXA Life Guaranteed Income Pro Eligibility 

Bharti AXA Life Guaranteed Income Pro comes with the following eligibility conditions -

Eligibility Criteria For Bharti AXA Life Guaranteed Income Pro Eligibility 

Plan VariantEndowmentShort Term IncomeLong Term IncomeDeferred Income
Minimum Entry Age 

PT*

PPT**

Age

10

5

8

12

6

6

14

7

4

15

1/5/7

3

16

8

2

20

10

91 days

22

11

24

12

PT*

PPT**

Age

11

10

7

12

11

6

13

12

5


 

PT*

PPT**

Age

6

5

12

11

10

7

13

12

5


 

PT*

PPT**

Age

6

1

12

11

1/6

7

13

6/8

5


 

Maximum Entry Age 

For PT of 15 year and PPT of 1 year - 50 years

For all other PTs and PPTs - 60 years

65 years60 years50 years
Minimum Maturity Age

PT*

PPT**

Age

10

5

 18

12

6

14

7

15

5/7

16

8

20

10

20

22

11

22

24

12

24

18 years18 years18 years
Maximum Maturity Age

PT*

PPT**

Age

10

5

70

12

6

72

14

7

74

15

5/7

65/75/75

16

8

76

20

10

80

22

11

82

24

12

84

PT*

PPT**

Age

11

10

76

12

11

77

13

12

78


 

PT*

PPT**

Age

6

5

66

11

10

71

13

12

73


 

PT*

PPT**

Age

6

1

56

11

1/6

61

13

6/8

63


 

Premium Payment Term    
Minimum Sum AssuredINR 25,000
Maximum Sum AssuredNo limit, subject to underwriting
Minimum PremiumAs per the minimum sum assured chosen
Premium Paying ModeYearly, half-yearly, quarterly, and monthly

*Policy Term **Premium Payment Term

Bharti AXA Life Guaranteed Income Pro Review

Bharti AXA Life Guaranteed Income Pro is a savings plan which also provides the benefits of a life cover. The plan provides for 2 kinds of benefits namely death benefit and maturity benefit in accordance with the plan variant chosen - Endowment Option or Income Option. 

Moreover, the plan provides multiple options for premium payment frequency, premium payment term, and policy term to offer you a substantial amount of flexibility. Bharti AXA Life Guaranteed Income Pro also allows you to avail a loan of up to 70% of the surrender value after the payment of at least 2 years’ premiums. Bharti AXA Life Guaranteed Income Pro is suitable for the individuals who are looking for a savings plan which provides guaranteed additions to their savings with customisable features.

Bharti AXA Life Guaranteed Income Pro FAQs

  • 1. What is the grace period under the plan?

    The plan offers you a grace period of 30 days (15 days for monthly mode) to pay all the due premiums from the date of first unpaid premium.

  • 2. Does the plan provide for any benefit in case of suicide by the life assured?

    In case the life assured commits a suicide within 12 months from the date of commencement of the policy, the higher of the following is paid to the nominee - 

    • At least 80% of the total premiums paid till the date of death 
    • Surrender value as on the date of death

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