Bharti AXA Life Insurance partnered with Policybazaar to create Wealth Maximizer, a first-of-its-kind ULIP plan in the industry, with the goal of meeting clients’ dual needs of financial stability and wealth growth. The unit-linked, non-participating individual life insurance plan is the only plan in the ULIP category that returns 118% of all charges applicable during the premium-paying term, including premium allocation charges, admin charges, fund management charges, and so on, ensuring a guaranteed refund of 118% on 100% payment of fund charges.
In addition to the return on all costs, the fund is offering Loyalty Additions of 0.2% of the fund value credited to the fund at the conclusion of each policy year up to maturity to reward client loyalty. In addition to the high investment value, the plan provides customers with a critical life insurance of Rs. 12,00,000 to protect their loved ones’ financial future.
Speaking at the launch of the product, Santosh Agarwal, Chief Business Officer – Life Insurance, Policybazaar.com said, “We are truly elated to partner with Bharti AXA Life in bringing Wealth Maximizer plan among 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 entities and help each other cater to our customers with this uniquely valuable product.”
Adding to the significance of the product and this partnership, Nitin Mehta, Chief Customer Officer and Head – 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 changes with time and circumstances. Along with life cover, we have put a special emphasis on capital formation requirement of the customers by offering best-in-industry investment funds. As 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.”
The plan’s eligibility criteria range from a minimum of three years to a maximum maturity age of 65 years for all premium-paying terms. The monthly and annual premium payment modes begin with a minimum of Rs. 2,000 and Rs. 6,000, respectively. The plan also gives users the option of selecting from various premium options based on their needs, ranging from monthly to yearly.
To assure maximum returns for users, the plan includes a total of eight funds, including best-in-class funds that have been among the top-performing funds in the market for the past few years. Customers can also select one or more of the eight investment funds. Bharti AXA Life has launched its first mid-cap fund, Emerging Equity Fund, with the goal of providing long-term capital appreciation by investing in a portfolio of mid-cap companies.