Mumbai: Private insurer Bharti AXA Life Insurance Wednesday launched a traditional non-participating plan, which offers the policy holder tax free guaranteed income until maturity.
The plan, Bharti AXA Life Secure Income Plan, has a limited premium payment term and at the end of the term, the policy holder starts receiving tax free guaranteed income until maturity, a company release said.
At maturity, the policyholder receives sum assured along with guaranteed additions.
"Locking in your investments in guaranteed instruments is very relevant in today's inflationary and uncertain macro environment.
"Keeping this in mind, we have introduced Secure Income, a plan that not only provides a guaranteed monthly income to fulfil short term needs of the customer but also provides a lump sum amount at maturity to meet their long term goals," Bharti AXA Life Managing Director and CEO Sandeep Ghosh said in a release issued here.
Secure Income Plan is compliant with the new IRDA guidelines for Traditional Plans.
Bharti AXA Life Insurance is a joint venture between Bharti Enterprises and AXA, the world's largest insurance company.
First Published: Wednesday, August 7, 2013, 17:59