Bharti AXA Life Insurance has recently launched Bharti AXA Life Growth Shield Plus. The plan is a Unit-Linked Insurance Plan (ULIP) designed to offer a life cover up to 100 times the annualised premium, along with market-linked returns, a statement notified.
It said that this product will not only ensure protection to the customers, but also give them the flexibility to choose between investment strategies along with multiple fund options tailored to their investment goals and risk-return preference.
Further, according to the statement, Bharti AXA Life Growth Shield Plus also offers benefits like return of charges and up to 30 per cent loyalty benefits on Fund Value. Individuals who opt for the plan will receive a return of two times the premium allocation charge and up to three times of mortality charge. Additionally, customers can also avail the tax benefits on the premiums paid, subject to the prevailing provisions under Income Tax Act, 1961.
Murli Jalan, Chief Distribution Officer (CDO), Bharti AXA Life Insurance, said in the statement, “We are delighted to launch Bharti AXA Life Growth Shield Plus. The plan is a unique offering from us, designed to provide customers the combined benefit of a term plan and a ULIP. Our ultimate aim behind launching this new product is to enable individuals to build financial security for their families while also empowering them to grow their wealth over the long term. Customers will not need to choose between a ULIP and a term plan, as this product offers both the benefits.”
