Bharti AXA Life Ajeevan Anand Plan Review

Bharti AXA Life Ajeevan Anand Plan Review

Let us today review the new insurance plan launched by Bharti AXA Life. The plan name is – Ajeevan Anand Plan. And it is the whole life insurance plan.

For which kind of Customers this Plan is?

Well, basically the key salient feature of this plan is that, the policy holder has to pay premiums for first 10-15 years of policy duration. Thus, this plan is mainly for the salaried Individuals.

This plan provides guaranteed regular payouts after every 5 years and life cover until the age of 100 years.

Key Features -

- Get guaranteed regular payouts of 25% of Sum Assured every 5 years, starting from the end of 10^thyear until you reach the age of 100 years

- Life Insurance cover until the age of 100 years

Minimum Sum Assured -

• The minimum Sum Assured under the plan is Rs 50,000.

Tax Benefits -

• You receive tax benefits under section 80C and 10(10D)

Riders Available -

Bharti AXA Life Insurance gives you enhanced protection in this plan with the option to add protection enhancer by paying a nominal amount towards this additional protection:

• Critical Illness Benefit Rider: This rider pays a lump-sum benefit incase of diagnosis of any of the six critical illnesses: Cancer, Stroke, Hear attack, Coronary Artery Bypass Graft surgery, Major Organ Transplant and Kidney failure.

My Personal View -

Well, weather you want to go for this plan or not mainly depends on your need. I mean many people want the life cover up to the age of 100. Let me tell you that the premiums will be higher than the pure term life insurance plans here.

What I personally feel is that, after the age of 65 years one should not need life insurance cover because according to me at this age your children should be financially independent and you MUST have build sufficient retirement corpus for yourself that in your sudden death, your nominees will receive this corpus as an inheritance.

However, if you think that you won’t be able to build the sufficient retirement corpus up to the age of 65 years and your adult children won’t be financially independent after your retirement and will need your financial outpatient care than and only go for this plan. Otherwise, this plan is not for you.

If you are in your twenties and thirties than I will advise you to build your own corpus by regular investments rather than depending on whole life plans.