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Bharti Axa Life Insurance has launched its ULIP in a new avatar. The company has launched a ULIP which offers insurance coverage like term plans.
The policy gives life cover of up to 100 times of the annual premium. Also, it offers additional protection against critical illnesses and accidental death through riders.
The ULIP also offers other benefits such as return of charges and up to 30% 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.
In a press release, Murli Jalan, Chief Distribution Officer at Bharti AXA Life Insurance said, “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 family while also empowering them to grow their wealth over the long term. Customers will not need to choose between a ULIP and or a term plan, as this product offers both the benefits.”