Bharti AXA Life launches traditional plan 'Elite Advantage'

MUMBAI: Private insurer Bharti AXA Life Insurance today launched a traditional non-participating plan - Life Elite Advantage.

The plan provides policyholders with guaranteed regular income payouts allowing them to choose the frequency of the payout, Bharti AXA said in a release issued here.

Besides the regular payouts, the customer also receives a guaranteed lump sum amount at maturity.

"Amidst intensifying inflation coupled with rising daily expenditures, households are struggling with inadequate savings," Bharti AXA Life Insurance Managing Director and CEO Sandeep Ghosh said.

"Consumers are looking for investment solutions that supplement the regular household income to meet the ever increasing demands of the family. Elite Advantage is a plan designed for such individuals who desire for a stable income along with long term insurance cover," he added.

Elite Advantage allows the policyholders to choose from three premium payment terms comprising of 5 years, 7 years or 12 years.

At the end of the policy term, maturity payment period will start, during which a guaranteed payout of 8.5-9.5 per cent of sum assured will be paid.

Hundred per cent of the sum assured will be paid to the policyholder at the end of the 20th year.

Bharti AXA Life Insurance is a joint venture between Bharti Enterprises and AXA, world leader in financial protection and wealth management.