Bharti Axa Life Growth Shield Plus Plan: Bharti AXA Life is offering a growth shield plus insurance plan for individuals who want to invest their funds in a life insurance policy. Now policy holders will get double the benefits of life insurance policies including getting insurance of the life and will able to invest their premium plan under the ulip plan.
Bharti Life will provide 100x life cover under the Bharti AXA Life Growth Shield Plus plan 2024. So if you are also searching for a long-term investment plan for Life insurance then you can look out the details of the Growth Shield Plus investment plan in Bharti AXA Life. We will share with you all the details of the plan including the benefits of Bharti Life Growth Shield Plus, eligibility to invest in the Bharti Axa Life Growth Shield Plus Plan, minimum and maximum investment limit, maturity period, insurance cover, etc.
Bharti Axa Life Growth Shield Plus Plan
Bharti AXA Life Growth Shield Plus is a unit-linked insurance plan (ULIP) that offers a combination of life insurance coverage and investment opportunities. This Bharti Axa Life Growth Shield Plus Plan provides a flexible way to grow your wealth while also securing your loved one’s financial future.
With Bharti Axa Life Growth Shield Plus Plan, you can choose from various investment funds, and your premiums are invested in the funds of your choice. The unit-linked insurance plan (ULIP) plan also offers tax benefits, loyalty benefits, and a life cover to ensure your family’s financial security in your absence.
Additionally, you can customize your policy to suit your needs with optional riders and benefits. This Bharti Axa Life Growth Shield Plus Plan is designed to help you achieve your long-term financial goals, such as saving for retirement or your child’s education, while also providing a safety net for your family.
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Bharti AXA Life Growth Shield Plus Plan Benefits
- Comprehensive Life Cover with Wealth Building: The plan offers life insurance coverage up to 100 times the annual premium, ensuring financial protection for your loved ones. Simultaneously, it serves as a Unit-Linked Insurance Plan (ULIP), providing the potential for investment growth over time.
- Double Benefit on Premium Allocation Charges: During the first four years, premium allocation charges are deducted from the premiums paid. However, 200% of these charges are added back to your policy’s fund value from the end of the 10th year to the 13th year, effectively returning double the deducted amount and enhancing your fund value.
- Enhanced Returns on Mortality Charges: Mortality charges are deducted during the policy term. Depending on the policy term, 100% to 300% of these charges are added back to the fund value from the end of the 11th policy year, significantly boosting your investment.
- Significant Loyalty Additions at Maturity: To reward long-term policyholders, the plan offers loyalty additions at maturity. These additions, calculated as a percentage of the average fund value over the last three years of the policy, can be up to 30%, increasing the maturity amount received.
- Flexible Investment Strategies: The plan provides two investment strategies: Dynamic Fund Allocation, which adjusts fund allocation based on market conditions, and Systematic Transfer Plan, which systematically transfers investments to reduce market timing risk. Additionally, multiple fund options are available to match specific financial goals and risk tolerance.
- Tax Advantages on Premiums and Benefits: The premiums paid and the benefits received under the policy are eligible for tax benefits as per the prevailing provisions of the Income Tax Act, 1961. These benefits can help reduce overall tax liability, though they are subject to change with tax laws.
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Eligibility of Bharti AXA Life Growth Shield Plus Plan
- Anyone who wants to start a life insurance policy and complete the age of 18 can apply for the Life Growth Shield Plus scheme in the Bharti AXA company.
- Maximum age of the individual should not be more than 60 years old while applying.
- It is the long term investment plan where company is providing three types of investment years including 30 years investment, 35 years and maximum 40 years investment.
- The individual who achieve at least 48 years old age can claim for maturity of the policy. However the maximum duration of maturity is 100 years old for those who have participated in 40 years investment, 95 years maturity is designed for individuals who of 35 years plan and 90 year maximum maturity age is for those who have invested for 30 years plan.
So if you are interested to invest in a long term investment for your life insurance plan then you can apply for Bharti life growth Shield Plus plan 2024 where you will get double benefits of covering 100x of your premium and getting the amount through ULIP plan where you will receive the units value at the time of ending your policy which will be decided according to the market value on that time.