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Bharti Axa Life Aajeevan Sampatti is a traditional whole life plan with an add-on benefit of guaranteed annual payouts through the life of the policyholder or until he/she attains the age of 100 years. The investor can choose a premium paying term between 10 and 15 years for a minimum sum assured of Rs 1 lakh. Discounts on premium rates are available for a sum assured of Rs 4 lakh and above.
Additional Features
The guaranteed annual payout, through the life of the policyholder, is a compelling feature of this plan. The scheme promises to pay an amount equivalent to 5.5% of the basic sum assured to the policyholder, every year, starting from the 11th policy year till the policyholder attains the age of 100 years or until his/her survival, whichever is earlier. An amount equal to the sum assured will also be paid on maturity to the policyholder or to the nominee in the event of death of the policyholder during the policy term.
In a nutshell, longer the life of an Aajeevan Sampatti policyholder, the higher would be the quantum of returns that he can get from this scheme. Though the annual guaranteed returns @ 5.5% are not appealing enough in the current environment, especially when banks are offering more attractive interest rates on term deposits, these returns would probably make sense if the interest rates were to cool off significantly in the coming future. While it is convincing that the scheme guarantees a fixed rate of return for the entire policy term, ie, 100 years, given the high premium charged by it, the net returns may be limited in the event of early death of the policyholder.
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