Bharti AXA Life Insurance on Tuesday launched single premium guaranteed plan, 'Invest Once', with an aim to attract new young investors into insurance sector.
Bharti AXA Life Insurance on Tuesday launched single premium guaranteed plan, ‘Invest Once’, with an aim to attract new young investors into insurance sector. This policy provides guaranteed additions of up to 9%, optional insurance cover of 10 times the premium paid and an opportunity to save tax both on investment and on return.
Bharti AXA Life Invest Once is a traditional, non-linked, non-participating endowment plan created for the benefit of young investors. The policy holder has the option to choose between two policy terms of 5 years and 10 years while premium is paid only once. The guaranteed additions stand at 7% for the 5-year term and 9% for the 10-year term. The minimum annual base premium (excluding applicable taxes and premium for enhanced death cover) is Rs 5,000.
Sandeep Ghosh, MD and CEO of Bharti AXA Life Insurance, said, “This products will provide investors with both investments as well as savings. Bharti AXA Life Invest Once has been designed keeping in mind the needs of the young investor. The research study helped us understand their expectations of the category, and the delivery of our product; I’m confident (this) will meet their needs. We have provided a user-friendly buying experience by following a mobile first strategy.” According to officials from the insurance company, though policies can be purchased online, they will also sell the products through agents and particularly leverage Airtel’s network across the country.