CURRENT AFFAIRS : BANKING & FINANCE
Bharti AXA Life Launches “Income Laabh” to Streamline Insurance with Enhanced Protection
- Bharti AXA Life Insurance has introduced a new insurance product called “Bharti AXA Life Income Laabh” with the goal of simplifying insurance and providing maximum protection to customers.
- This plan is designed to offer both financial protection and a consistent income stream to policyholders.
About Bharti AXA Life Income Laabh :
- Bharti AXA Life Income Laabh is a non-linked, non-participating individual savings plan that includes life insurance coverage.
- Customers who opt for this plan can expect a steady stream of guaranteed income for a period of 10 to 12 years, depending on the chosen policy term.
- Initially, the income payout is set at 100% of the annual premium paid. After 5 years (for a 10-year policy term), this payout increases to 150%.
- For a 12-year policy term, after 6 years, the income payout grows to 200%.
- In addition to the regular income payouts, the policyholder or nominee receives a guaranteed lump sum amount in the final year of the income period. This can be utilised to achieve significant life goals.
- The primary aim of this product is to enhance the financial well-being of policyholders and their families.
About Bharti AXA Life Insurance :
- Headquarters : Mumbai, Maharashtra
- MD & CEO : Parag Raja
- Bharti AXA Life Insurance is a Joint Venture (JV) between Bharti Enterprises ( 51%) and French insurance company AXA (49%).
Rabindranath Tagore