Bharti AXA Life Insurance has introduced a new savings and protection product, the Bharti AXA Life Guaranteed Bachat Plan, tailored for middle-income Indians. This plan combines life cover with guaranteed savings, aiming to help families build financial security. The policy offers life cover from day one, with insurance protection up to 30 times the annual premium, which can be increased to 50 times with optional rider benefits.
The Guaranteed Bachat Plan provides fixed returns on maturity, allowing customers to choose between a lump sum payout or regular income. Policyholders can also enhance their cover with various riders, including accidental death benefit, critical illness cover, hospi-cash, and waiver of premium. Additionally, the plan qualifies for tax benefits under the Income Tax Act, 1961.
According to Prerak Parmar, Chief Growth Officer at Bharti AXA Life Insurance, the product is designed for individuals seeking simple and reliable insurance solutions. The plan is non-linked and non-participating, offering customers flexibility in choosing policy terms, premium payment terms, payout options, and rider combinations to suit their needs.
Bharti AXA Life Insurance aims to serve a wider audience in India with easy-to-understand and practical insurance solutions. The company, which started operations in 2006, now operates over 200 offices across India, offering various insurance products for individuals and groups. The focus is on providing affordable and need-based coverage, making insurance more accessible to the masses.
The launch of the Bharti AXA Life Guaranteed Bachat Plan is a step towards achieving this goal, providing middle-income Indians with a reliable and simple insurance solution that combines protection and savings. With its flexible features and guaranteed returns, the plan is expected to appeal to those seeking financial security and peace of mind. Overall, the Bharti AXA Life Guaranteed Bachat Plan is a significant addition to the company’s product portfolio, catering to the growing demand for affordable and comprehensive insurance solutions in India.