Aajeevan Sampatti Overview
Aajeevan Sampatti Plan is a traditional Whole Life plan covering the policyholder till age 100 thereby securing the protection need of the policyholder. The plan also provides annual Payouts to take care of everyday needs
Benefits of Aajeevan Sampatti Plan
On death higher of the SA on Maturity or 11 times the annual premium subject to 105% of all premiums paid is payable On maturity, the basic Sum Assured is paid Guaranteed Annual payouts @ 5.5% of SA for coverage till 100 years and 6% of SA for coverage till 85 years is paid from the 10th policy year till maturity or death whichever is earlier Income tax benefit under Sections 80C and 10(10D) for premiums paid and claims received respectively
Exclusionsin Aajeevan Sampatti Plus Plan
In case of suicide within 12 months from inception, total premiums paid is returned and within 12 months of revival, higher of 80% of total premiums paid or acquired Surrender Value is paid to the nominee
Aajeevan Sampatti PolicyKey Features
This plan is a participating traditional Whole life plan with limited premium payment term. The individual is covered up to age 100 or 85 years. Guaranteed Annual Payouts from the completion of 10th policy year depending on the policy term. Non-guaranteed cash bonuses from the 6th policy year further increase the corpus.
Aajeevan Sampatti Plan Specification
Details About Premium Annual premium in Rupees and benefit illustration Aajeevan SampattiPolicy Details Grace Period: 30 days grace period is allowed for premium payment in all modes Policy Termination or Surrender Benefit: the policy can be surrendered anytime if one full years premium has been paid. The Surrender value will be higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV) GSV = % of all Premiums paid Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim. Inclusionsin Aajeevan Sampatti Plan by Bharti AXA The policy provides loan facility of up to 70% of the Surrender value Additional Features or Riders Hospi Cash Rider is available under the plan High Sum Assured discounts for higher coverages of 400,000 and above