At Bharti AXA Life Insurance, this is what we mean by Financial … · 2017-12-16 · Satish Mac...

You would like to live your life and prepare for the future with complete confidence.

We design solutions, which will protect you and your family and help you realise

your dreams.

At Bharti AXA Life Insurance, this is what we mean

by Financial Protection.

Bharti AXA Life Insurance Company LimitedAn ISO 9001:2000 Certified Company

Registered Office: 6th floor, Unit - 601 & 602, Raheja Titanium, Off Western Express Highway, Goregaon (East), Mumbai - 400 063. www.bharti-axalife.com Registration No.: 130. Advt. No.: PB 01 April 09. UIN 130L002V01.

FutureConfidentBharti AXA Life

Unit-linked Regular Pay Product

For further details call:Customer Care Nos. - Toll free Nos.: 1800 425 1350

(MTNL, BSNL users) or 1800 102 4444 (Airtel, TATA, BPL, Spice Telecom - Punjab & Shyam Tel users)

Alternate Nos.: 020 40182300/020 26141350OR

SMS BALIFE to 56677Log on to: www.bharti–axalife.com

Insurance is subject matter of solicitation.

FILE NAME: FC Bro JAN.AI CLOSE SIZES: 8.5”X11” INCHES JOB NO.: GWAW09000135Satish Mac Data / Dee / Ashay E / Bharati AXA / 2009 New Job / future Confident / Broucher Job No. 0135 / Final AW / FC Bro Jan PG.ai

FutureConfidentUnit-linked Regular Pay Product

Your advantages with FutureConfident

1. A financial solution that provides protection to your family. • Guaranteed Sum Assured for your family’s protection. Get a life insurance benefit (Sum Assured) of

as much as 420 times your monthly premium & coverage up to 70 years of age

2. A financial solution to be confident of comprehensive overall protection, with the help of “Protection Enhancers”, in the form of riders.

• Financial protection against unfortunate contraction of six dreaded critical illnesses - cancer, heart attack, stroke, total kidney failure, major organ transplant and bypass surgery with Critical Illness Benefit Rider

In this Policy, the investment risk in the investment portfolio is borne by the Policyholder.

With FutureConfident, get comprehensive financial protection and build wealth for your long-term needs.

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Imagine 12 years from now your son will go for his MBA degree or 15 years from now you will have to find a suitable son-in-law or 20 years from now you will require a pot of money for your retirement. If you believe that your financial milestones are long- term, we at Bharti AXA Life Insurance believe there is no shortcut to achieve them.

When financial protection along with wealth creation for long-term needs is your key financial objective, you need a solution that provides that extra protection for your loved ones, while creating wealth for your long-term goals. Presenting, “FutureConfident” – a complete financial solution that serves you in building wealth for your long-term needs, but most importantly, provides the extra financial protection to your loved ones.

Now, be confident of a solution that works for your long-term needs to make your future confident. Be Life Confident.

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Bharti AXA Life FutureConfident Terms & Conditions

Disclaimers• This product brochure is indicative of terms, conditions, warranties and

exceptions contained in the insurance Policy Bond. In the event of conflict, if any, between the terms and conditions contained in this brochure and those contained in the Policy Bond, the terms and conditions contained in the Policy Bond shall prevail

• Insurance is the subject matter of the solicitation • Bharti AXA Life Insurance Company Limited, 61/62, Kalpataru Synergy,

Opposite Grand Hyatt, Vakola, Santacruz (East), Mumbai 400 055• UIN No.: 130L002V01• UIN for Critical Illness Rider: 130C001V01• UIN for Accidental Death and Disability Benefit Rider: 130C002V01


• Financial protection against death and total disability caused due to accident, with Accidental Death and Disability Benefit Rider

3. A financial solution to be confident of continued long-term wealth creation. • Long-term wealth creation with regular special additions throughout the

benefit period starting from the end of 7th year of your Policy

4. A financial solution to be confident of growth for your money. • Choice of investment funds to invest your premium. This choice ranges from

a fund with high equity allocation to help you earn potentially high returns, to a fund that is highly debt oriented to earn steady returns

5. A financial solution to be confident of complete control. • Total control on your Policy with a wide range of available flexibilities, like -

partial withdrawal from your Policy, additional investments with the help of top-up, 4 free switches between the investment funds in every Policy year and many more

All these at a starting premium of Rs. 10,000 per annum in FutureConfident. Get the confidence of a complete long-term financial solution.

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Add riders to the Policy at a very nominal additional cost to attain financial protection against critical illness and disability due to accident. Take advantage of availability of various investment funds.

How does FutureConfident work for you?

FutureConfident is a suitable product for you, if your objective is long-term targeted wealth creation over 15-20 years, either for your own retirement or for your children’s future, while at the same time providing your family enhanced financial protection. Being a unit-linked plan, it suits your requirement of deriving potentially higher returns by assuming the appropriate risks.

Why should you buy FutureConfident?

FutureConfident is a unit-linked plan. The product works as follows;

1. The premium paid by you and your age decides the Sum Assured.

2. The premium is netted of the premium allocation charge and invested in the investment fund of your choice. The unit price of the investment fund decides the number of units allocated to you.

Bharti AXA Life FutureConfident Realise your Dreams

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Enjoy tax benefits Sections under 80C and 10(10D) of the Income Tax Act, so while your money grows, you save on taxes too.

Computation of Unit Price

The unit pricing shall be computed based on whether the Company is purchasing (appropriation price) or selling (expropriation price) the assets in order to meet the day-to-day transactions of unit allocations and unit redemptions, i.e. the life insurer shall be required to sell/purchase the assets if unit redemptions/allocations exceed unit allocations/ redemptions at the valuation date.

The appropriation price shall apply in a situation when the Company is required to purchase the assets to allocate the units at the valuation date. This shall be the amount of money that the Company should put into the fund in respect of each unit it allocates in order to preserve the interests of the existing Policyholders. The unit price will be computed as follows: Market value of investment held by the fund plus the expenses incurred in the purchase of the assets plus the value of any current assets plus any accrued income net of fund management charges less the value of any current liabilities less provisions, if any. This gives the net asset value of the fund. Dividing by the number of units existing at the valuation date (before any new units are allocated), gives the unit price of the fund under consideration.

The expropriation price shall apply in a situation when the Company is required to sell assets to redeem the units at the valuation date. This shall be the amount of money that the Company should take out of the fund in respect of each unit it cancels in order to preserve the interests of the continuing Policyholders. The unit price will be computed as follows: Market value of investment held by the fund less the expenses incurred in the sale of the assets plus the value of any

current assets plus any accrued income net of fund management charges less the value of any current liabilities less provisions, if any. This gives the net asset value of the fund. Dividing by the number of units existing at the valuation date (before any units are redeemed), gives the unit price of the fund under consideration.

Risks of investments in unit-linked Policies:

• Bharti AXA Life FutureConfident is a unit-linked insurance Policy and is different from traditional insurance Policies

• The premium in unit-linked insurance Policy are subject to investment risk associated with capital market and the NAV of the units may go up or down based on the performance of the investment funds and the factors influencing the capital markets and the insured is responsible for his/her decisions

• Bharti AXA Life Insurance Company Ltd. is only the name of the insurance company and Bharti AXA Life FutureConfident is only the name of the unit-linked insurance Policy and does not in any way represent or indicate the quality of the Policy, its future prospects and performance or the returns

• Bharti AXA Life FutureConfident does not provide for participation in the distribution of surplus or profits that may be declared by the Company

• Growth Opportunities Fund, Grow Money Fund, Steady Money Fund and Save‘n’grow Money Fund are the names of the Investment Funds and do not in any manner indicate the quality of the Investment Funds, their future prospects or returns


What are the key benefits of FutureConfident?

Life insurance benefit:In case of the unfortunate event of death of the Life insured during the Policy benefit period, higher of the Sum Assured (net of partial withdrawals, made on regular premium in 12 months prior to death of the Life insured) or the Policy Fund Value at that point in time is payable, and the Policy will cease to exist.

In case the Life assured is less than 5 years at the time of death, only Policy Fund Value shall be paid.

The following table shows multiples for the sum insured, which are dependant on your age at the time of buying FutureConfident.

These multiples are corresponding to male lives. For female lives, the applicable multiple would be the multiple corresponding to a male life three years lesser than the age of the female.

Example: Suppose your age at the time of buying FutureConfident is 36 years and the annual premium that you decide to invest based on your financial planning, is Rs. 20,000. Then the Sum Assured for male life would be Rs. 20,000 x 20 = Rs. 4,00,000 and for female life it would be Rs. 20,000 x 25 = Rs. 5,00,000 as the applicable multiple for female life would be the multiple corresponding to a male life three years lesser than the age of female, i.e. as the age of female is 36 years, the applicable multiple would be corresponding to a 33-year male (36 minus 3) as per the table above.

Comprehensive overall protection benefits with “Protection Enhancers”:

Along with the life insurance benefit, FutureConfident offers you Protection Enhancers in the form of additional riders. You can choose these riders to provide comprehensive protection to your loved ones, by paying nominal additional premium. Following are the rider options available to you:

• Critical Illness Benefit Rider• Accidental Death and Disability Benefit Rider

Please ask our agent to show you the separate rider brochure for details of applicable terms and conditions.

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Age 0-20 years 21-35 years 36-45 years 46-50 years 51-60 years

Sum Assured 35 25 20 15 10(as a multiple of the premium)

FutureConfident gives you complete flexibility and control over your hard earned money.

3. Once the units are allocated, Policy administration charges and mortality charges (deducted for the life insurance cover and dependent on your age) are deducted by cancellation of units.

4. Net units and the unit price of the investment fund decide your Policy Fund Value. Every time the premium is paid, fresh units are allocated and subsequently the deductions are made and the Policy fund accumulates higher number of units, resulting into potentially higher Policy Fund Value.

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1. If any regular premium due within the first three years of the Policy remains unpaid even after the grace period of 30 days, the Policy lapses and all the benefits under the Policy cease to exist. You can however, revive the Policy by paying all the unpaid premium within a period of two years from the due date of the last unpaid premium. If the Policy is not reinstated during the reinstatement period, the Policy will stand terminated and the Policy Fund Value as at the expiry of reinstatement period net of Surrender Charge as on the lapse date shall be payable at the completion of the third Policy year or at the end of the reinstatement period, whichever is later.

2. If the due premium have been paid for at least three consecutive Policy years from the Policy date and subsequent premium are unpaid, you may reinstate the Policy within two years from the date of first unpaid premium by resuming premium payment by paying all the unpaid premium and the appropriate Premium Allocation Charge shall be deducted from the above mentioned payment. During the period allowed for reinstatement, the Policy shall continue to be in effect by levying applicable Policy Charges. At the end of the allowed period for reinstatement, if you have not opted for cover continuance option, only the Policy Fund Value, after deducting applicable surrender charges will be paid and the Policy will terminate. In an event of death during the reinstatement period, the death benefit shall be paid out. If the Policy Fund Value falls below the sum of one Annualised Regular Premium plus applicable surrender charges, then the Policy will be terminated and the surrender value will be paid out.

3. Free-look option: If you disagree with any of the terms and conditions of the Policy, you have the option to return the original Policy Bond along with a letter stating reasons for the objection within 15 days of receipt of the Policy Bond (“the free look period”). The Policy will accordingly be cancelled and an amount equal to (the sum of Premium Allocation Charge, Policy

Administration Charge, Mortality Charge, deducted from the Policy Fund Value) and (the Policy Fund Value less stamp duty and underwriting expenses) incurred by the Company, will be refunded to the Policyholder. All the rights under the Policy shall stand extinguished immediately on the cancellation of the Policy under the Free Look Option.

4. If the Life insured under the Policy, whether medically sane or insane, commits suicide, within one year of the Issue Date or the date of reinstatement of the Policy, the Policy shall be void and the Company will only be liable to pay the Policy Fund Value as on the date of intimation of death and all the benefits under the Policy shall cease to exist.

5. This is a non-participating Unit-linked Insurance Policy.

Revision of charges:

The Company reserves the right to revise the following charges from time to time with a prior approval from the Insurance Regulatory and Development Authority (IRDA).

Fund Management Charge: The maximum limit of charge for each of the investment funds are as follows: Growth Opportunities Fund: 2.50% p.a. of the net assets, Grow Money Fund: 2.50% p.a. of the net assets, Save‘n’grow Money Fund: 2.00% p.a. of the net assets and Steady Money Fund: 1.75% p.a. of the net assets.

Policy administration charge: The maximum limit on this charge in any Policy year shall not be more than an amount equal to compounded value of current charge at a rate of 5% since August 2006.

The Company also has the right to revise the asset allocation of any investment fund(s) with prior approval from IRDA.

Terms and conditions



Bharti AXA Life FutureConfident Special Additions

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A perfect product for those who want to safeguard their future by planning for it right now.

Grow your wealth to fund important events in your life.

Plan to give the best education for your children, a dream wedding for your daughter and build healthy retirement savings.

The schedule of special additions is as follows:

The average Policy Fund Value is equal to the average of the Policy Fund Values as on the last date of each of the preceding 36 Policy months, prior to the date of crediting of the special additions.

For example, at the end of the 7th Policy year, the average Policy Fund Value over the last 36 months is calculated and 1% is applied on the same. The value is then allocated in terms of additional units, based on the unit price of the fund as on that date.

Maturity benefit: FutureConfident matures when you attain the age of 70 years. On maturity, your Policy Fund Value as on that date is paid to you and the Policy ceases to exist.

End of Policy year 7th 10th 15th and every 5 years thereafter

Addition as % of average Policy 1% 1.5% 2.5%Fund Value for preceding 36 months

Special additions:FutureConfident offers you special additions over the long-term by crediting additional units to your investment fund, at regular intervals throughout the term of FutureConfident. These special additions potentially enhance your long-term wealth creation.

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Withdraw when you need. Invest when you have.Not only do you have the option of investing more with the facility of top-up, you also have the flexibility of withdrawing money from your Policy, should a need arise.

Tax benefits

You can avail of the tax benefits on the premium paid and the benefits received as per the prevailing tax laws under Section 80C and Section 10(10D) of the Income Tax Act, 1961. The tax benefits are subject to change as per change in Tax laws from time to time.

SECTION 41 OF INSURANCE ACT, 1938

“No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the Policy nor shall any person taking out or renewing or continuing a Policy accept any rebate except such rebate as may be allowed in accordance with the published prospectus or tables of the Insurer.”


“No Policy of life insurance shall after the expiry of two years from the date on which it was effected, be called in question by an insurer on the ground that statement made in the proposal for insurance or in any report of a medical officer, or referee, or friend of the insured, or in any other document leading to the issue of the Policy, was inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the Policyholder and that the Policyholder knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose.

Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no Policy shall be deemed to be called in question merely because the terms of the Policy are adjusted on subsequent proof that the age of the Life insured was incorrectly stated in the proposal.”


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Life Insurance Benefit

Higher of the Sum Assured (net of partial withdrawals made from the Regular Premium’s Policy Fund Value) or the Policy Fund Value is payable.

Take care of unexpected contingencies by opting for Critical Illness Benefit Rider, and Accidental Death and Disability Rider.

Investment fund options:FutureConfident provides you the benefit of diverse fund options, to match your financial objectives depending on your requirements and lifestage.

The investment mix of each of the Investment Funds is as per the following table:

Your need analysis exercise with our agent should help you choose an appropriate fund mix commensurate with your financial objectives (Minimum allocation in any chosen investment fund should be 5%).

Investment Fund Objective Asset Allocation Potential Risk-return

Growth To provide long-term capital Listed Equities: 80%-100% High Opportunities appreciation through investing Cash & Money Market Instruments: 0%-40%Fund in stocks across all market capitalisation ranges (Large, Mid or Small)

Grow Money To provide long-term capital Listed Equities: 80%-100% HighFund appreciation through investing Cash & Money Market Instruments: 0%-40% across a diversified high quality equity portfolio

Save‘n’grow To provide steady accumulation of Listed Equities: 0%-60% ModerateMoney Fund income in medium to long-term by Corporate Bonds: 0%-50% investing in high quality debt papers Government Bonds and Securities: 0%-40% and government securities and a Cash & Money Market Instruments: 0%-40% limited opportunity of capital appreciation. This would be more of a defensively managed fund

Steady Money To provide steady accumulation of Corporate Bonds: 20%- 80%, LowFund income in medium to long-term by Government Bonds and Securities: 20%-80%, investing in high quality debt papers Cash & Money Market Instruments: 0%-40% and government securities

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The benefits of diversity.Choose an appropriate investment fund that meets your financial objectives and risk appetite.

An illustration of the product benefits

This is a sample illustration that enumerates the benefits of FutureConfident.

Annual Regular Premium paid: Rs. 12,000, Term of the illustration: 20 years, Age: 32 years Male, Sum Assured: Rs. 3,00,000

Policy Year Benefits with 6% Benefits with 10% investment return* investment return* Surrender Value Death Benefit Surrender Value Death Benefit

1st year 0 3,00,000 0 3,00,000

2nd year 1,358 3,00,000 1,433 3,00,000

5th year 43,231 3,00,000 48,182 3,00,000

7th year 72,341 3,00,000 83,836 3,00,000

10th year 1,17,103 3,00,000 1,44,733 3,00,000

15th year 2,08,859 3,00,000 2,90,264 3,00,000

20th year 3,26,569 3,26,569 5,14,059 5,14,059

Additional Protection Enhancers

Accidental Death and Disability Benefit Rider: Benefit Amount = Rs. 3,00,000

Annual Premium = Rs. 405 extra

Critical Illness Benefit Rider: Benefit Amount = Rs. 3,00,000


*6% and 10% p.a. are assumed gross investment rate of return on Grow Money Fund.

Product at a glance

Parameter Eligibility

Minimum age at entry 0 years

Maximum age at entry 60 years

Maturity age 70 years

Policy Benefit Period 70 years less age at entry

Premium modes Yearly, half-yearly, quarterly* and monthly*.

Minimum premium Rs. 10,000 for yearly, Rs. 5,000 for half-yearly, Rs. 2,500 for quarterly and Rs. 834 for monthly premium

Minimum top-up premium Rs. 500

Rider premium The sum of all the rider premium cannot be more than 30% of the base premium.

* Payment only through ECS

Bharti AXA Life FutureConfident Flexible Options


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Confidence of total control with FutureConfident

Benefit of liquidity: FutureConfident offers you the benefit of “partial withdrawal”, to take care of your intermittent financial needs while continuing your long-term wealth creation. This facility is available to you after first three completed Policy years. The minimum amount for each partial withdrawal is Rs. 5,000.

You can avail of this facility after 3 completed Policy years. However, in a Policy year two withdrawals shall be free, post which a charge of Rs. 100 would be applied per withdrawal in that Policy year. Post-withdrawal, the minimum Policy Fund Value should be equal to sum of 120% of one year’s premium of the basic plan.

Benefit of changing the premium: While we recommend that you pay the agreed amount of annual premium for the entire term of the Policy, we also understand that sometimes you may face financial constraints which might make it difficult for you to pay the agreed premium throughout the term. Therefore, in this product, we allow you to increase/decrease your premium any time after completion of two Policy years but the change will come into effect from the next Policy anniversary. Increase in the premium of the basic plan will increase your Sum Assured in exactly the same proportion. Any increase in premium of the basic plan shall be subject to the then administrative and underwriting rules of the Company. Decrease in premium will decrease your Sum Assured in the same proportion. Annualised Regular Premium can be reduced subject to the following condition:

During 3rd policy year, the Annualised Regular Premium can be reduced such that the revised premium is at least Higher of

• 75% of first year Annualised Regular Premium• Minimum Annualized Regular Premium

From 4th policy year onwards, the Annualised Regular Premium can be reduced to the minimum Annualised Regular Premium.

Special additions at regular intervals potentially enhance your long-term wealth.


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What are the applicable charges?

Annual Regular Premium less than Premium equal to orPremium Rs. 1,00,000 greater than Rs. 1,00,000

1st year 50.00% 38.00%

2nd-3rd year 15.00% 15.00%

4th-5th year 7.50% 7.50%

6th-10th year 3.00% 3.00%

11th+ year 1.50% 1.50%

a) Premium Allocation Charge: This charge is deducted from the regular premium paid by you. This charge depends upon the annual regular premium and the Policy year, which is as follows:

The Top-up premium is subject to an allocation charge of 1.5%.

b) Mortality Charge: This charge is levied to provide you the life insurance benefit. This charge is applied on the Sum at Risk (as defined below) and is deducted proportionately by cancellation of units on a monthly basis.

Sum at Risk is defined as the excess of Sum Assured over Policy Fund Value as on the corresponding Policy Date in the Policy Month. Annual Mortality Charge per thousand rupees of Sum at Risk for sample ages of healthy lives is as follows:

c) Policy Administration Charge: This charge is deducted by cancellation of units on a monthly basis. The fixed charge is Rs. 60 per month

d) Fund Management Charge: This is a charge that is levied on each of the Investment Funds and is adjusted in the unit price calculation on a daily basis. The charges for the funds are as follows:

Service tax & cess on all the charges will be levied as per prevailing rates.

Gender/Age (in years) 30 35 40 50

Male 1.40 1.66 2.46 6.29

Female 1.39 1.44 1.91 4.58

Fund Type Charge

Growth Opportunities Fund 1.75% p.a.

Grow Money Fund 1.50% p.a.

Save‘n’grow Money Fund 1.25% p.a.

Steady Money Fund 1.00% p.a.

FILE NAME: FC Bro JAN.AI CLOSE SIZES: 8.5”X11” INCHES JOB NO.: GWAW09000135Satish Mac Data / Dee / Ashay E / Bharati AXA / 2009 New Job / future Confident / Broucher / Final AW / FC Bro Jan PG.ai

Benefit of making additional investment through Top-ups: This feature helps you to make additional investment over and above your regular premium with the help of “Top-up premium” facility, at your own convenience. This facility is available to you after 3 completed years of the Policy. The minimum amount of a single Top-up is Rs. 500.

Top-up investment at any point can be made only if the regular premium for the base plan is paid in full. Additionally, at any point during the Policy benefit period, total amount of Top-up premium paid cannot be more than 25% of total regular premium paid till that date. Top-up premium has no effect on your Sum Assured.

Benefit of switches & Premium redirection: Through the feature of switches & premium redirection you can manage your asset allocation between equity & debt depending on your needs. For example you may wish to move your money to a low-risk investment fund option before maturity of the Policy to protect against adverse movements in equity markets.

You can switch four times in a Policy year free of charge, beyond which a charge of Rs. 100 per switch is levied. The minimum value of a switch should be Rs. 2,500.

You can also redirect your future premium after first Policy year into different funds with Premium Redirection facility. This facility can be availed of any number of times free of charge. The minimum allocation in any chosen investment fund should be 5%.

Surrender Value: FutureConfident offers you the option of completely foreclosing your Policy with the help of “surrender” facility.

The value payable to you at surrender would depend upon the Policy year in which you surrender the Policy. The surrender values available are as follows:

If the Policy is surrendered before the completion of three Policy years then the surrender value, calculated as on the date of request of such surrender by the Policyholder, shall be frozen and become payable after the completion of three Policy years. Once the Policy is surrendered, the Policy shall cease to exist.

Policy Year Surrender Value

1st Policy year NIL

2nd Policy year 20% of the Policy Fund Value

3rd Policy year 55% of the Policy Fund Value

4th Policy year 90% of the Policy Fund Value

5th Policy year 95% of the Policy Fund Value

6th Policy year onwards 100% of the Policy Fund Value

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6

Confidence of total control with FutureConfident

Benefit of liquidity: FutureConfident offers you the benefit of “partial withdrawal”, to take care of your intermittent financial needs while continuing your long-term wealth creation. This facility is available to you after first three completed Policy years. The minimum amount for each partial withdrawal is Rs. 5,000.

You can avail of this facility after 3 completed Policy years. However, in a Policy year two withdrawals shall be free, post which a charge of Rs. 100 would be applied per withdrawal in that Policy year. Post-withdrawal, the minimum Policy Fund Value should be equal to sum of 120% of one year’s premium of the basic plan.

Benefit of changing the premium: While we recommend that you pay the agreed amount of annual premium for the entire term of the Policy, we also understand that sometimes you may face financial constraints which might make it difficult for you to pay the agreed premium throughout the term. Therefore, in this product, we allow you to increase/decrease your premium any time after completion of two Policy years but the change will come into effect from the next Policy anniversary. Increase in the premium of the basic plan will increase your Sum Assured in exactly the same proportion. Any increase in premium of the basic plan shall be subject to the then administrative and underwriting rules of the Company. Decrease in premium will decrease your Sum Assured in the same proportion. Annualised Regular Premium can be reduced subject to the following condition:

During 3rd policy year, the Annualised Regular Premium can be reduced such that the revised premium is at least Higher of

• 75% of first year Annualised Regular Premium• Minimum Annualized Regular Premium

From 4th policy year onwards, the Annualised Regular Premium can be reduced to the minimum Annualised Regular Premium.

Special additions at regular intervals potentially enhance your long-term wealth.


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What are the applicable charges?

Annual Regular Premium less than Premium equal to orPremium Rs. 1,00,000 greater than Rs. 1,00,000

1st year 50.00% 38.00%

2nd-3rd year 15.00% 15.00%

4th-5th year 7.50% 7.50%

6th-10th year 3.00% 3.00%

11th+ year 1.50% 1.50%

a) Premium Allocation Charge: This charge is deducted from the regular premium paid by you. This charge depends upon the annual regular premium and the Policy year, which is as follows:

The Top-up premium is subject to an allocation charge of 1.5%.

b) Mortality Charge: This charge is levied to provide you the life insurance benefit. This charge is applied on the Sum at Risk (as defined below) and is deducted proportionately by cancellation of units on a monthly basis.

Sum at Risk is defined as the excess of Sum Assured over Policy Fund Value as on the corresponding Policy Date in the Policy Month. Annual Mortality Charge per thousand rupees of Sum at Risk for sample ages of healthy lives is as follows:

c) Policy Administration Charge: This charge is deducted by cancellation of units on a monthly basis. The fixed charge is Rs. 60 per month

d) Fund Management Charge: This is a charge that is levied on each of the Investment Funds and is adjusted in the unit price calculation on a daily basis. The charges for the funds are as follows:

Service tax & cess on all the charges will be levied as per prevailing rates.

Gender/Age (in years) 30 35 40 50

Male 1.40 1.66 2.46 6.29

Female 1.39 1.44 1.91 4.58

Fund Type Charge

Growth Opportunities Fund 1.75% p.a.

Grow Money Fund 1.50% p.a.

Save‘n’grow Money Fund 1.25% p.a.

Steady Money Fund 1.00% p.a.


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Life Insurance Benefit

Higher of the Sum Assured (net of partial withdrawals made from the Regular Premium’s Policy Fund Value) or the Policy Fund Value is payable.

Take care of unexpected contingencies by opting for Critical Illness Benefit Rider, and Accidental Death and Disability Rider.

Investment fund options:FutureConfident provides you the benefit of diverse fund options, to match your financial objectives depending on your requirements and lifestage.

The investment mix of each of the Investment Funds is as per the following table:

Your need analysis exercise with our agent should help you choose an appropriate fund mix commensurate with your financial objectives (Minimum allocation in any chosen investment fund should be 5%).

Investment Fund Objective Asset Allocation Potential Risk-return

Growth To provide long-term capital Listed Equities: 80%-100% High Opportunities appreciation through investing Cash & Money Market Instruments: 0%-40%Fund in stocks across all market capitalisation ranges (Large, Mid or Small)

Grow Money To provide long-term capital Listed Equities: 80%-100% HighFund appreciation through investing Cash & Money Market Instruments: 0%-40% across a diversified high quality equity portfolio

Save‘n’grow To provide steady accumulation of Listed Equities: 0%-60% ModerateMoney Fund income in medium to long-term by Corporate Bonds: 0%-50% investing in high quality debt papers Government Bonds and Securities: 0%-40% and government securities and a Cash & Money Market Instruments: 0%-40% limited opportunity of capital appreciation. This would be more of a defensively managed fund

Steady Money To provide steady accumulation of Corporate Bonds: 20%- 80%, LowFund income in medium to long-term by Government Bonds and Securities: 20%-80%, investing in high quality debt papers Cash & Money Market Instruments: 0%-40% and government securities

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The benefits of diversity.Choose an appropriate investment fund that meets your financial objectives and risk appetite.

An illustration of the product benefits

This is a sample illustration that enumerates the benefits of FutureConfident.

Annual Regular Premium paid: Rs. 12,000, Term of the illustration: 20 years, Age: 32 years Male, Sum Assured: Rs. 3,00,000

Policy Year Benefits with 6% Benefits with 10% investment return* investment return* Surrender Value Death Benefit Surrender Value Death Benefit

1st year 0 3,00,000 0 3,00,000

2nd year 1,358 3,00,000 1,433 3,00,000

5th year 43,231 3,00,000 48,182 3,00,000

7th year 72,341 3,00,000 83,836 3,00,000

10th year 1,17,103 3,00,000 1,44,733 3,00,000

15th year 2,08,859 3,00,000 2,90,264 3,00,000

20th year 3,26,569 3,26,569 5,14,059 5,14,059

Additional Protection Enhancers

Accidental Death and Disability Benefit Rider: Benefit Amount = Rs. 3,00,000


Critical Illness Benefit Rider: Benefit Amount = Rs. 3,00,000


*6% and 10% p.a. are assumed gross investment rate of return on Grow Money Fund.

Product at a glance

Parameter Eligibility

Minimum age at entry 0 years

Maximum age at entry 60 years

Maturity age 70 years

Policy Benefit Period 70 years less age at entry

Premium modes Yearly, half-yearly, quarterly* and monthly*.

Minimum premium Rs. 10,000 for yearly, Rs. 5,000 for half-yearly, Rs. 2,500 for quarterly and Rs. 834 for monthly premium

Minimum top-up premium Rs. 500

Rider premium The sum of all the rider premium cannot be more than 30% of the base premium.

* Payment only through ECS

Bharti AXA Life FutureConfident Flexible Options



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A perfect product for those who want to safeguard their future by planning for it right now.

Grow your wealth to fund important events in your life.

Plan to give the best education for your children, a dream wedding for your daughter and build healthy retirement savings.

The schedule of special additions is as follows:

The average Policy Fund Value is equal to the average of the Policy Fund Values as on the last date of each of the preceding 36 Policy months, prior to the date of crediting of the special additions.

For example, at the end of the 7th Policy year, the average Policy Fund Value over the last 36 months is calculated and 1% is applied on the same. The value is then allocated in terms of additional units, based on the unit price of the fund as on that date.

Maturity benefit: FutureConfident matures when you attain the age of 70 years. On maturity, your Policy Fund Value as on that date is paid to you and the Policy ceases to exist.

End of Policy year 7th 10th 15th and every 5 years thereafter

Addition as % of average Policy 1% 1.5% 2.5%Fund Value for preceding 36 months

Special additions:FutureConfident offers you special additions over the long-term by crediting additional units to your investment fund, at regular intervals throughout the term of FutureConfident. These special additions potentially enhance your long-term wealth creation.

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Withdraw when you need. Invest when you have.Not only do you have the option of investing more with the facility of top-up, you also have the flexibility of withdrawing money from your Policy, should a need arise.

Tax benefits

You can avail of the tax benefits on the premium paid and the benefits received as per the prevailing tax laws under Section 80C and Section 10(10D) of the Income Tax Act, 1961. The tax benefits are subject to change as per change in Tax laws from time to time.


“No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the Policy nor shall any person taking out or renewing or continuing a Policy accept any rebate except such rebate as may be allowed in accordance with the published prospectus or tables of the Insurer.”


“No Policy of life insurance shall after the expiry of two years from the date on which it was effected, be called in question by an insurer on the ground that statement made in the proposal for insurance or in any report of a medical officer, or referee, or friend of the insured, or in any other document leading to the issue of the Policy, was inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the Policyholder and that the Policyholder knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose.

Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no Policy shall be deemed to be called in question merely because the terms of the Policy are adjusted on subsequent proof that the age of the Life insured was incorrectly stated in the proposal.”


What are the key benefits of FutureConfident?

Life insurance benefit:In case of the unfortunate event of death of the Life insured during the Policy benefit period, higher of the Sum Assured (net of partial withdrawals, made on regular premium in 12 months prior to death of the Life insured) or the Policy Fund Value at that point in time is payable, and the Policy will cease to exist.

In case the Life assured is less than 5 years at the time of death, only Policy Fund Value shall be paid.

The following table shows multiples for the sum insured, which are dependant on your age at the time of buying FutureConfident.

These multiples are corresponding to male lives. For female lives, the applicable multiple would be the multiple corresponding to a male life three years lesser than the age of the female.

Example: Suppose your age at the time of buying FutureConfident is 36 years and the annual premium that you decide to invest based on your financial planning, is Rs. 20,000. Then the Sum Assured for male life would be Rs. 20,000 x 20 = Rs. 4,00,000 and for female life it would be Rs. 20,000 x 25 = Rs. 5,00,000 as the applicable multiple for female life would be the multiple corresponding to a male life three years lesser than the age of female, i.e. as the age of female is 36 years, the applicable multiple would be corresponding to a 33-year male (36 minus 3) as per the table above.

Comprehensive overall protection benefits with “Protection Enhancers”:

Along with the life insurance benefit, FutureConfident offers you Protection Enhancers in the form of additional riders. You can choose these riders to provide comprehensive protection to your loved ones, by paying nominal additional premium. Following are the rider options available to you:

• Critical Illness Benefit Rider• Accidental Death and Disability Benefit Rider

Please ask our agent to show you the separate rider brochure for details of applicable terms and conditions.

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Age 0-20 years 21-35 years 36-45 years 46-50 years 51-60 years

Sum Assured 35 25 20 15 10(as a multiple of the premium)

FutureConfident gives you complete flexibility and control over your hard earned money.

3. Once the units are allocated, Policy administration charges and mortality charges (deducted for the life insurance cover and dependent on your age) are deducted by cancellation of units.

4. Net units and the unit price of the investment fund decide your Policy Fund Value. Every time the premium is paid, fresh units are allocated and subsequently the deductions are made and the Policy fund accumulates higher number of units, resulting into potentially higher Policy Fund Value.

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1. If any regular premium due within the first three years of the Policy remains unpaid even after the grace period of 30 days, the Policy lapses and all the benefits under the Policy cease to exist. You can however, revive the Policy by paying all the unpaid premium within a period of two years from the due date of the last unpaid premium. If the Policy is not reinstated during the reinstatement period, the Policy will stand terminated and the Policy Fund Value as at the expiry of reinstatement period net of Surrender Charge as on the lapse date shall be payable at the completion of the third Policy year or at the end of the reinstatement period, whichever is later.

2. If the due premium have been paid for at least three consecutive Policy years from the Policy date and subsequent premium are unpaid, you may reinstate the Policy within two years from the date of first unpaid premium by resuming premium payment by paying all the unpaid premium and the appropriate Premium Allocation Charge shall be deducted from the above mentioned payment. During the period allowed for reinstatement, the Policy shall continue to be in effect by levying applicable Policy Charges. At the end of the allowed period for reinstatement, if you have not opted for cover continuance option, only the Policy Fund Value, after deducting applicable surrender charges will be paid and the Policy will terminate. In an event of death during the reinstatement period, the death benefit shall be paid out. If the Policy Fund Value falls below the sum of one Annualised Regular Premium plus applicable surrender charges, then the Policy will be terminated and the surrender value will be paid out.

3. Free-look option: If you disagree with any of the terms and conditions of the Policy, you have the option to return the original Policy Bond along with a letter stating reasons for the objection within 15 days of receipt of the Policy Bond (“the free look period”). The Policy will accordingly be cancelled and an amount equal to (the sum of Premium Allocation Charge, Policy

Administration Charge, Mortality Charge, deducted from the Policy Fund Value) and (the Policy Fund Value less stamp duty and underwriting expenses) incurred by the Company, will be refunded to the Policyholder. All the rights under the Policy shall stand extinguished immediately on the cancellation of the Policy under the Free Look Option.

4. If the Life insured under the Policy, whether medically sane or insane, commits suicide, within one year of the Issue Date or the date of reinstatement of the Policy, the Policy shall be void and the Company will only be liable to pay the Policy Fund Value as on the date of intimation of death and all the benefits under the Policy shall cease to exist.

5. This is a non-participating Unit-linked Insurance Policy.

Revision of charges:

The Company reserves the right to revise the following charges from time to time with a prior approval from the Insurance Regulatory and Development Authority (IRDA).

Fund Management Charge: The maximum limit of charge for each of the investment funds are as follows: Growth Opportunities Fund: 2.50% p.a. of the net assets, Grow Money Fund: 2.50% p.a. of the net assets, Save‘n’grow Money Fund: 2.00% p.a. of the net assets and Steady Money Fund: 1.75% p.a. of the net assets.

Policy administration charge: The maximum limit on this charge in any Policy year shall not be more than an amount equal to compounded value of current charge at a rate of 5% since August 2006.

The Company also has the right to revise the asset allocation of any investment fund(s) with prior approval from IRDA.

Terms and conditions



• Financial protection against death and total disability caused due to accident, with Accidental Death and Disability Benefit Rider

3. A financial solution to be confident of continued long-term wealth creation. • Long-term wealth creation with regular special additions throughout the

benefit period starting from the end of 7th year of your Policy

4. A financial solution to be confident of growth for your money. • Choice of investment funds to invest your premium. This choice ranges from

a fund with high equity allocation to help you earn potentially high returns, to a fund that is highly debt oriented to earn steady returns

5. A financial solution to be confident of complete control. • Total control on your Policy with a wide range of available flexibilities, like -

partial withdrawal from your Policy, additional investments with the help of top-up, 4 free switches between the investment funds in every Policy year and many more

All these at a starting premium of Rs. 10,000 per annum in FutureConfident. Get the confidence of a complete long-term financial solution.

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Add riders to the Policy at a very nominal additional cost to attain financial protection against critical illness and disability due to accident. Take advantage of availability of various investment funds.

How does FutureConfident work for you?

FutureConfident is a suitable product for you, if your objective is long-term targeted wealth creation over 15-20 years, either for your own retirement or for your children’s future, while at the same time providing your family enhanced financial protection. Being a unit-linked plan, it suits your requirement of deriving potentially higher returns by assuming the appropriate risks.

Why should you buy FutureConfident?

FutureConfident is a unit-linked plan. The product works as follows;

1. The premium paid by you and your age decides the Sum Assured.

2. The premium is netted of the premium allocation charge and invested in the investment fund of your choice. The unit price of the investment fund decides the number of units allocated to you.

Bharti AXA Life FutureConfident Realise your Dreams

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Enjoy tax benefits Sections under 80C and 10(10D) of the Income Tax Act, so while your money grows, you save on taxes too.

Computation of Unit Price

The unit pricing shall be computed based on whether the Company is purchasing (appropriation price) or selling (expropriation price) the assets in order to meet the day-to-day transactions of unit allocations and unit redemptions, i.e. the life insurer shall be required to sell/purchase the assets if unit redemptions/allocations exceed unit allocations/ redemptions at the valuation date.

The appropriation price shall apply in a situation when the Company is required to purchase the assets to allocate the units at the valuation date. This shall be the amount of money that the Company should put into the fund in respect of each unit it allocates in order to preserve the interests of the existing Policyholders. The unit price will be computed as follows: Market value of investment held by the fund plus the expenses incurred in the purchase of the assets plus the value of any current assets plus any accrued income net of fund management charges less the value of any current liabilities less provisions, if any. This gives the net asset value of the fund. Dividing by the number of units existing at the valuation date (before any new units are allocated), gives the unit price of the fund under consideration.

The expropriation price shall apply in a situation when the Company is required to sell assets to redeem the units at the valuation date. This shall be the amount of money that the Company should take out of the fund in respect of each unit it cancels in order to preserve the interests of the continuing Policyholders. The unit price will be computed as follows: Market value of investment held by the fund less the expenses incurred in the sale of the assets plus the value of any

current assets plus any accrued income net of fund management charges less the value of any current liabilities less provisions, if any. This gives the net asset value of the fund. Dividing by the number of units existing at the valuation date (before any units are redeemed), gives the unit price of the fund under consideration.

Risks of investments in unit-linked Policies:

• Bharti AXA Life FutureConfident is a unit-linked insurance Policy and is different from traditional insurance Policies

• The premium in unit-linked insurance Policy are subject to investment risk associated with capital market and the NAV of the units may go up or down based on the performance of the investment funds and the factors influencing the capital markets and the insured is responsible for his/her decisions

• Bharti AXA Life Insurance Company Ltd. is only the name of the insurance company and Bharti AXA Life FutureConfident is only the name of the unit-linked insurance Policy and does not in any way represent or indicate the quality of the Policy, its future prospects and performance or the returns

• Bharti AXA Life FutureConfident does not provide for participation in the distribution of surplus or profits that may be declared by the Company

• Growth Opportunities Fund, Grow Money Fund, Steady Money Fund and Save‘n’grow Money Fund are the names of the Investment Funds and do not in any manner indicate the quality of the Investment Funds, their future prospects or returns


FutureConfidentUnit-linked Regular Pay Product

Your advantages with FutureConfident

1. A financial solution that provides protection to your family. • Guaranteed Sum Assured for your family’s protection. Get a life insurance benefit (Sum Assured) of

as much as 420 times your monthly premium & coverage up to 70 years of age

2. A financial solution to be confident of comprehensive overall protection, with the help of “Protection Enhancers”, in the form of riders.

• Financial protection against unfortunate contraction of six dreaded critical illnesses - cancer, heart attack, stroke, total kidney failure, major organ transplant and bypass surgery with Critical Illness Benefit Rider

In this Policy, the investment risk in the investment portfolio is borne by the Policyholder.

With FutureConfident, get comprehensive financial protection and build wealth for your long-term needs.

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Imagine 12 years from now your son will go for his MBA degree or 15 years from now you will have to find a suitable son-in-law or 20 years from now you will require a pot of money for your retirement. If you believe that your financial milestones are long- term, we at Bharti AXA Life Insurance believe there is no shortcut to achieve them.

When financial protection along with wealth creation for long-term needs is your key financial objective, you need a solution that provides that extra protection for your loved ones, while creating wealth for your long-term goals. Presenting, “FutureConfident” – a complete financial solution that serves you in building wealth for your long-term needs, but most importantly, provides the extra financial protection to your loved ones.

Now, be confident of a solution that works for your long-term needs to make your future confident. Be Life Confident.

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Disclaimers• This product brochure is indicative of terms, conditions, warranties and

exceptions contained in the insurance Policy Bond. In the event of conflict, if any, between the terms and conditions contained in this brochure and those contained in the Policy Bond, the terms and conditions contained in the Policy Bond shall prevail

• Insurance is the subject matter of the solicitation • Bharti AXA Life Insurance Company Limited, 61/62, Kalpataru Synergy,

Opposite Grand Hyatt, Vakola, Santacruz (East), Mumbai 400 055• UIN No.: 130L002V01• UIN for Critical Illness Rider: 130C001V01• UIN for Accidental Death and Disability Benefit Rider: 130C002V01


You would like to live your life and prepare for the future with complete confidence.

We design solutions, which will protect you and your family and help you realise

your dreams.

At Bharti AXA Life Insurance, this is what we mean

by Financial Protection.

Bharti AXA Life Insurance Company LimitedAn ISO 9001:2000 Certified Company

Registered Office: 6th floor, Unit - 601 & 602, Raheja Titanium, Off Western Express Highway, Goregaon (East), Mumbai - 400 063. www.bharti-axalife.com Registration No.: 130. Advt. No.: PB 01 April 09. UIN 130L002V01.

FutureConfidentBharti AXA Life

Unit-linked Regular Pay Product

For further details call:Customer Care Nos. - Toll free Nos.: 1800 425 1350

(MTNL, BSNL users) or 1800 102 4444 (Airtel, TATA, BPL, Spice Telecom - Punjab & Shyam Tel users)

Alternate Nos.: 020 40182300/020 26141350OR

SMS BALIFE to 56677Log on to: www.bharti–axalife.com

Insurance is subject matter of solicitation.


At Bharti AXA Life Insurance, this is what we mean by Financial … · 2017-12-16 · Satish Mac...

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Transcript of At Bharti AXA Life Insurance, this is what we mean by Financial … · 2017-12-16 · Satish Mac...