Bharti Axa Life Insurance launches Guaranteed Wealth Pro plan offering tax-free income - See pay-out options, benefits and more

On Wednesday, Bharti Axa Life Insurance has announced the launch of Guaranteed Wealth Pro. It is a comprehensive product providing life insurance coverage along with a competitive and efficient savings avenue. This plan also offers liquidity in the form of tax-free income from the second year onwards with its early income variants.

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Guaranteed Wealth Pro policy

The Guaranteed Wealth Pro is designed to help save for future milestones or needs across various life-stages such as planning for retirement or early retirement, children’s higher education, a company statement said. It could also cater to other goals including a luxurious holiday or safeguarding ones’ financial independence by securing a supplementary income that allows one to pursue their passion without a worry.

Furthermore, the plan even offers liquidity in the form of tax-free income from the second year onwards with its early income variants, the company statement said. In doing so, it helps in securing one's family by guaranteeing the elimination of uncertainty of future income streams.

Pay-out structures

There are two pay-out structures that the customers choose from for this product. These are as follows:

1) The ‘Endowment’ option to receive pay-outs under the product as lump sum enable planning for future milestones and life goals

2) The ‘Income’ option offers a choice between short-term, long-term income and lifelong income with two early income variants as well.

Riders with the policy

The interested customers must know that there are additional riders which can be taken along with the policy. The riders available with the product are Term Rider, Hospi Cash Rider, Accidental Death Benefit Rider and Premium Waiver Rider.

Benefits

Also, it allows customers the flexibility to choose premium payment term or policy term based on their needs and preferences.

In case of an unfortunate death of the life insured during the policy term, the nominee will be entitled to all the pan options under the policy, provided the policy is in-force and all due premiums till the date of death have been paid.