Bharti AXA Life Insurance has introduced a new product, Bharti AXA Life Income Laabh, as part of its aim to simplify insurance and deliver maximum protection to its consumers. This approach addresses the twin aims of financial security and a consistent revenue stream.
Customers can expect a steady stream of guaranteed income for 10 to 12 years, depending on the policy term they choose. The initial income pay-out is 100% of the annual premium paid, increasing to 150% after 5 years for a 10-year policy term. After 6 years, the income grows by 200% in the case of a 12-year policy term. In addition, the policyholder or nominee will get a guaranteed lump sum amount in the final year of the income period, which can assist them in stepping up and achieving crucial life goals. The product strives to improve the financial well-being of consumers and their families.
Throughout the policy term, the Bharti AXA Life Income Laabh plan (a non-linked, non-participating individual savings plan) will also provide life insurance coverage. Optional riders are available for people who want even more extensive coverage. These riders will allow policyholders to supplement their protection coverage, giving them peace of mind and additional security. Furthermore, Bharti AXA Life Income Laabh (UIN: 130NI22VO1) will allow consumers to choose between premium payment terms and policy terms, as well as provide tax benefits.
Speaking on the launch of Bharti AXA Life Income Laabh, Parag Raja, MD & CEO, Bharti AXA Life Insurance said, “We are delighted to bring this product to our customers, which will add to their financial wellness through its unique benefits. Our sole purpose to launch Bharti AXA Life Income Laabh is to offer financial security at every stage of their life in a simple way so they can relish in the joys of their life. With our commitment to make insurance simple and accessible to all, we will continue to design simple and unique products which fulfill customers’ financial requirements as they step up in their respective lives.”
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Bharti AXA Life Insurance remains committed to offering a diverse range of insurance and investment products that assist individuals and families in achieving their financial goals. With the consumer at the forefront, the company continues to develop products that improve its customers’ financial well-being and provide them with the confidence of much-needed financial security in their life.
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