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Business News/ Money / Personal Finance/  Bharti AXA Life Insurance unveils Income Laabh to provide both income and insurance benefits. Details here
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Bharti AXA Life Insurance unveils Income Laabh to provide both income and insurance benefits. Details here

Bharti AXA Life Insurance launched a simple new product with an assured income of up to 200% increase in income after 5 or 6 years depending on the policy term while promising an assured income for 10-12 years depending on the option you choose.

Bharti AXA Life launches Income Laabh; a simple new product with assured income benefits.Premium
Bharti AXA Life launches Income Laabh; a simple new product with assured income benefits.

Bharti AXA Life Insurance has unveiled a new product, Bharti AXA Life Income Laabh to simplify insurance and provide optimal protection to its customers. This plan addresses the twin goals of providing financial protection and ensuring a steady income stream.

The plan gives customers a regular stream of assured income for 10-12 years, depending on the policy term they choose. Initial income pay-out is 100 per cent of the annual premium one pays, which then increases to 150 per cent after five years for a 10-year policy term. In the case of a 12-year policy term, the income increases by 200 per cent after six years. Also, the policyholder or the nominee will receive a guaranteed lump sum amount in the last year of the income period which can help them step up and accomplish important life goals. The product aims to strengthen the financial well-being of the customers along with their families.

Bharti AXA Life Income Laabh plan (a non-linked, non-participating, individual savings plan) will also provide life insurance coverage throughout the policy term. For those seeking even more comprehensive coverage, the plan offers optional riders. These riders will allow policyholders to enhance their protection coverage, providing them with peace of mind and added security. Furthermore, Bharti AXA Life Income Laabh (UIN: 130NI22VO1) will give the flexibility to choose premium payment terms or policy terms along with providing tax benefits for the customers.

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 in launching 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."

More and more life insurance companies are getting innovative with their products. The new launches are essentially multiple financial solutions effectively packaged into one. However, investors must not jump in to avail of all the product launches; instead, they must wait and verify the benefits offered to check those apropos of their financial goals.

 

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 Important Life Insurance terms who should know
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 Important Life Insurance terms who should know

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Published: 13 Sep 2023, 12:30 PM IST
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