Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, and AXA, one of the world's largest insurance companies, on Monday announced the launch of Bharti AXA Life Wealth Pro, a unit linked individual insurance plan.
This offers triple benefits of regular savings, enhanced protection and market-linked returns, it said in a statement.
"The new and value-loaded ULIP helps customers plan and achieve their financial milestones as per the changing life-stages along with financial security for their families," it said.
The plan provides protection and wealth creation benefits from an early age of 91 days up to the age of 99 years by paying premiums either for a limited duration or once at the commencement of the plan.
The plan has two variants Growth and Legacy.
In the Growth variant, the customers have three policy term choices, ten, 15 or 20 years, and can pay premium once or for five, seven, ten, 15 or 20 years.
While the customer chooses to pay the premium once, he/she can opt for higher life insurance coverage of 10 times life insurance cover, it was stated.
The Legacy variant also provides the policyholder with a life insurance cover of 10 times the annualised premium throughout the policy term up to 99 years of age and a legacy fund for his/her loved ones.
Under this, the customer has to pay premiums for five, seven, ten or till 60 years of age, the statement added.