All About Bharti AXA Life Shining Stars Plan

All About Bharti AXA Life Shining Stars Plan
Conclusion

Bharti AXA Life Insurance is a well-reputed life insurance company in India. It offers a wide range of life insurance plans whether it's pure term insurance or savings plans, retirement plans or other life insurance instruments. Bharti AXA Life Insurance is a joint venture between Bharti Enterprises and AXA Group, a France-based insurance company that offers a wide range of options which includes investments insurance and financial services globally.

Key responsibilities for any parent are education and career planning of a child and for that they require financial management which can only be done through investment. Monthly savings are often not sufficient to meet the future requirements of the child as education is getting costlier day by day. Thus, in this article, we will talk in detail about the Bharti AXA Life Shining Stars Plan which is a non-linked, non-participating, limited pay endowment life insurance plan. It is a great short-term investment insurance for securing the future of your child.

All About Bharti AXA Life Shining Stars Plan

Bharti AXA Life Shining Stars is a child plan designed with the twin benefits of savings and protection to help parents ensure their children's bright future and their children can fulfill their dreams without any compromise.

Payout Options: It provides parents with flexibility to choose among any between two maturity payout options i.e. Flexi Payout option and Annual Payout Option at the time of inception. The Payout option can be molded at the time of Maturity as per the child’s requirements. Under the Flexi Payout option during the Maturity Payout you may also choose to receive the payout at the end of the year. Under the Annual Payout option, you may need to choose to take the present value as a lump sum for all outstanding future payments.
In-built Benefit in Case of Death: The plan provides an in-built benefit in case of death where the child's needs are taken care for after the sudden demise of the parents and the policy would continue after the death of the parent also with the benefit of no premiums needs to be paid and the maturity benefits would continue to payable at the time of the maturity.
Tax Benefits: The premiums paid towards the Bharti AXA Life Shining Stars Plan qualify for a tax deduction of up to Rs. 1.5 Lakh under Section 80C of the Income Tax Act 1961. Also, the maturity benefits received during the plan are exempt from taxation under Section 10(10D) of the Act.
Policy Terms & Premium Payment Terms (PPTs): There is also flexibility in policy terms and premium payment terms. It offers a choice of 9 combinations of policy terms with little premium payment terms.
Maturity Benefit: It also provides you with maturity benefit under which if the policy holder survives till the maturity date and all the premiums have been paid then maturity benefit will be paid to policyholder on the date of the maturity.
Loan Facility: In order to meet unforeseen needs It allows the policyholder to take loan from the company.
Rider Benefits: The policyholder can avail customise the plan with the help of 3 riders namely Bharti AXA Life Hospital Cash Rider, Bharti AXA Life Accidental Death Benefit Rider and Bharti AXA Life Term Rider by paying additional premiums.

Conclusion

In this article, we have mentioned some of the key highlights of this plan provided by Bharti AXA Life Insurance Company. Some really unique features of this plan such as life cover along with maturity payout make it stand out among its peers. Those who want to plan and secure the future of their child can consider investing their money in this plan.