Policy Document- Bharti AXA Life Wealth Pro

UIN: 130L100V03

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

PART B

1. Definitions: (meaning of technical words used in Policy

Document)

a) Age is the Age at last birthday in completed years.

b) Allocation means the creation of Units in the applicable

Investment Fund/s at the prevailing Unit Price.

c) Annualized Premium means the premium amount

payable in a year excluding the taxes, rider premiums

and underwriting extra premium on riders, if any.

d) Appointee means the person appointed by You to

receive the benefits payable under the Policy till the

Nominee is a minor as per applicable Indian Laws

e) Base Policy is the life insurance product chosen by the

Policyholder out of the various products offered by the

Company.

f) Date of Commencement of Risk is the date from which

the Life Insurance coverage under this Policy

commences and is as specified in the Policy Schedule.

g) Date of Inception of Policy is the date on which the

Policy is issued and is as specified in the Policy

Schedule.

h) Discontinuance means the state of a Policy that could

arise on account of Surrender of the Policy or non-

payment of the premium before the expiry of the grace

period.

i) Discontinuance charge means a charge that can be

levied upon the Discontinuance of the Policy

j) Discontinued Policy Fund means the fund that is set

aside and is constituted by the fund value, as applicable,

of all the discontinued policies.

k) Investment Fund is a specific and separate fund

managed for the exclusive interest of all Policyholders

sharing the same Investment Fund option. The Company

offers a number of Investment Funds from time to time

earmarked for its unit linked business and each of these

Investment Funds have an asset Allocation mix of

various financial instruments.

l) Investment Fund Allocation Instruction is

Policyholders instruction for Allocation of the premiums

net of all relevant Premium Allocation Charge for

purchase of Units in the Investment Fund as specified by

Policyholder.

m) Lapse is the status of the Policy where the premium due

is not paid before the expiry of grace period.

n) Life/Lives Insured is the person(s) named in the Policy

Schedule and whose life/lives is(are) covered under the

Policy.

o) Limited Premium Payment Policy is a Policy wherein

the Premium Payment Term is limited as compared to

the Policy Term.

p) Lock-in Period is a period of five years from the Date of

Commencement of Risk.

q) Maturity Date is the date on which the Policy Term

concludes and is specified in the Policy Schedule.

r) Modal Premium is the amount payable by the

Policyholder on the due dates in a policy year as per the

mode chosen by the Policyholder.

s) Nominee is the person nominated under the Policy to

receive the benefits under the Policy in the event of death

of the Life Insured before Maturity Date as per the

provisions of Section 39 of Insurance Act, 1938 as

amended from time to time. This is applicable where the

Policyholder and Life Insured are the same.

t) Partial Withdrawal means any part of fund / partial

withdrawal that is encashed / withdrawn by the

Policyholder during the term of the Policy.

u) Policy means Bharti AXA Life Wealth Pro along with the

unique Policy number issued to You as mentioned in the

“Policy Schedule”

v) Policy Anniversary Date is the date which periodically

falls after every twelve months starting from the Date of

Commencement of Risk whilst the Policy is in force.

w) Policy Charges are the charges associated with the Policy

as detailed in Part E of the Policy Document.

x) Policy Document means and includes the proposal form

for insurance submitted by the Policyholder, the Policy

Schedule, the first premium receipt, any attached

endorsements or supplements provided by the Company

from time to time, the medical examiner’s report and any

other document/s called for by the Company and submitted

by the Policyholder to enable the Company to process the

proposal.

y) Policy Fund Value is the value of the aggregate of the

number of outstanding Units on any day in each

Investment Fund allocated under this Policy multiplied by

their respective Unit Prices applicable as on that day.

Illustration:

(if a customer holds 100 units of Grow Money Plus Fund

and 50 units of Growth Opportunities Plus Fund, and

assuming the NAV of the Grow Money Plus Fund is Rs.11

and that of Growth Opportunities Plus Fund is Rs.12, the

Policy Fund Value of the customer would be calculated as

follows:

Grow Money Plus Fund :100 units x Rs.11 = Rs.1100

Growth Opportunities Plus Fund 50 units x Rs.12 = Rs.600

Policy Fund Value = Rs.1700)

z) Policy Schedule contains a brief description of the

Policy, the Policyholder and the Life Insured and forms an

integral part of the Policy.

aa) Policy Term is the number of Policy Years for which the

Policy is in-force, commencing from the Date of

Commencement of Risk and ending on the Maturity Date

and is mentioned in the Policy Schedule.

bb) Policy Year is measured from the Date of Commencement

of Risk and is a period of twelve consecutive calendar

months and includes every subsequent twelve consecutive

calendar months.

cc) Policyholder is the owner of the Policy whose name is

mentioned in the proposal form.

dd) Premium Payment Term means the number of Policy

Years for which the Policyholder is required to pay the

premium.

ee) Premium Redirection means an option which allows the

Policyholder to modify the Allocation of amount of renewal

premium to various segregated funds, under a unit linked

UIN: 130L100V03

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

policy, offered through a different investment pattern from

the option exercised at the Date of Commencement of Risk

of the Policy.

ff) “Proceeds of the Discontinued Policy” means the fund

value as on the date of discontinuance plus entire income

earned after deduction of the fund management charges,

subject to a minimum guarantee of interest @ 4% p.a. or

as prescribed by IRDA of India from time to time.

gg) Regular Premium Payment Policy is a Policy wherein the

premium payment is made throughout the Policy Term.

hh) Return of Mortality Charges (RoMC) is the total amount

of Mortality charges (excluding any extra Mortality charge

& or any other applicable tax/cess levied) deducted during

the Policy Term which will be credited to the Policy at

maturity date. RoMC will be allocated to the Policy by

creating additional Units across Investment Funds.

ii) Return of Premium Allocation charges (RoPC) is the

total Premium Allocation Charges (excluding any

applicable tax/cess levied) deducted during the Policy

Term which will be credited to the Policy at maturity date.

RoPAC will be allocated to the Policy by creating additional

Units across Investment Funds.

jj) Revival means reviving the Policy after the Policyholder

has paid all due premiums.

kk) Revival Period is the time of 3 years from the date of the

first unpaid premium and is the period available to the

Policyholder to revive the Policy

ll) Segregated Fund means the funds as referred in Clause 1

Part E.

mm) Settlement Option means a facility made available to the

Policyholder to receive the Policy Fund Value on Maturity

Date in installments in accordance with the terms and

conditions.

nn) Single Premium Payment Policy means linked insurance

products, where the premium payment is made by a single

payment at the inception of the Policy.

oo) Sum Assured is an assured amount used to calculate the

Death Benefit

pp) Surrender means complete withdrawal/ termination of the

entire Policy by the Policyholder.

qq) Surrender Value means an amount, if any, that becomes

payable in case of Surrender in accordance with the terms

and conditions

rr) Switch is the facility allowing the Policyholder to change

the investment pattern by moving from one Investment

Fund to other Investment Fund(s) amongst the Investment

Funds offered under the Policy.

ss) The Company /Company means Bharti AXA Life

Insurance Company Limited.

tt) Unit is a portion or a part of the underlying Investment

Fund Purchased from the Premiums paid under the Policy.

uu) Unit Price is the value per Unit of each Investment Fund

calculated in accordance with Part E.

vv) Valuation Date is the date on which the Unit Price of the

Investment Fund is determined in accordance with the

Valuation provisions of this Policy

ww) You/Your/Yours refers to the Policyholder/ Life Insured

The terms defined above shall also act as a reference guide

to the Policy Document in terms of IRDA of India Circular

No. IRDA/LIFE/CIR/GDL/034/01/2014 dated 14 January 2014'

UIN: 130L100V03

PART C

Benefits payable

1. Death Benefit

In case of death of the Life Insured during the Policy Term,

the Death Benefit will be payable to the Nominee or the

Policyholder as the case may be, subject to Policy being in

force and all due premiums till the date of death have been

paid.

The Death Benefit will be highest of:

1. Sum Assured* less Partial Withdrawals made in the

two-year period immediately preceding the date of

death of Life Insured.

2. 105% of all premiums paid as on date of death.

3. Policy Fund Value (including any Loyalty Additions) as

on the date of death of the Life Insured

Sum Assured will be as per table below:

The Death Benefit shall become payable on/from the date of

intimation of death, subject to acceptance of the claim by the

Company. The Policy shall terminate upon payment of Death

Benefit.

In case of the death of the Life Insured during the grace period

allowed for payment of due Premium, the death benefit shall be

payable and the Policy will be terminated.

The risk coverage will start from the Date of Commencement of

Risk for all lives, including minors

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

Variant

Premium

Payment

Term

Policy

Term

Age last

birthday

Sum Assured

Growth

Single

Premium

years

<= 50 years

Option 1: 125% *

Single Premium

Option 2: 10 *

Single Premium

> 50 years 125% * Single

Premium

years

<= 46 years

Option 1: 125% *

Single Premium

Option 2: 10 *

Single Premium

> 46 years 125% * Single

Premium

years

<= 43 years

Option 1: 125% *

Single Premium

Option 2: 10 *

Single Premium

> 43 years 125% * Single

Premium

Growth

and

Legacy

Limited/

Regular

Premium

All All

10 * Annualized

Premium#

# Annualized premium is the premium selected by the

policyholder at inception of the policy, excluding applicable

taxes.

In case of the death of the Life Insured while the policy is in a

discontinuance status and the monies are a part of the

‘Discontinued Policy Fund’, the Policy Fund Value as on the

date of death shall be payable and the Policy will terminate.

In case of the death of the Life Insured during the Settlement

Period, the Higher of Policy Fund Value or 105% of total

premiums paid as on the date of death shall be payable to the

Nominee/ legal heirs and the policy will terminate.

Subject to the exclusions as mentioned in the Policy Document,

the death benefit shall be payable for death under all situations

(including death during declared or undeclared war, civil

commotion, invasion, terrorism, Naxalite Operation and

hostilities).

2. Maturity Benefit

On maturity, subject to the policy being in-force and depending

upon the variant chosen, the Policyholder shall be eligible for

the Maturity Benefit as follows –

i. Growth Variant: Maturity Benefit payable shall be equal to

the Policy Fund Value (including Return of Mortality

Charges, Return of Premium Allocation Charges and Wealth

Boosters) as on the date of maturity.

ii. Legacy Variant: Maturity Benefit payable shall be equal to

the Policy Fund Value (including Loyalty Additions and

Wealth Boosters) as on the date of maturity.

The Policy Fund Value is calculated with the respective Unit

Prices of the relevant Investment Funds to which the premium/s

have been allocated as on their Valuation Dates, coinciding with

the Maturity Date of the Policy.

At maturity, the Policyholder may also choose to avail of the

Settlement Option.

3. Other Benefits

a) Loyalty Additions (Applicable in Legacy variant):

Subject to the Policy being in-force, and the Variant

chosen, Loyalty Additions will be credited to the Policy at

the end of each Policy Year starting from the end of tenth

Policy Year till one year before the date of maturity.

Loyalty Additions will be allocated to the Policy by

creating additional Units across Investment Funds, in the

same proportion as the investment fund allocation

instruction then in effect.

The Loyalty Additions are as follows:

Variant Policy Year

% of Policy Fund Value*

as at end of Policy Year

Legacy

From end of

Policy Year 10

till one year

before

maturity

0.75%

Growth NA 0.00

The Loyalty Additions will be payable along with the Policy Fund

Value on Maturity. In event of Paid-up Policy, Loyalty Additions

will not be credited after the Policy has attained Paid-Up status.

UIN: 130L100V03

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

b) Wealth Booster: Subject to the Policy being in-force,

Wealth Booster will be credited to the Policy at the end of

fifth policy year and at Maturity date. Wealth Booster will

be allocated to the Policy by creating additional Units

across Investment Funds, in the same proportion as the

investment fund allocation instruction then in effect.

Variant Policy Year

% of Policy Fund Value*

as at end of Policy Year

Growth &

Legacy

End of 5h

Policy Year

0.25%

At date of

Maturity

1.25%

For Growth Variant, Wealth Booster shall be calculated

as of 1.25% of Fund Value at maturity before adding

back RoMC and RoPAC units.

The Wealth Booster will be payable along with the Policy

Fund Value at Maturity. In event of Paid-up Policy,

Wealth Booster will not be credited after the Policy has

attained Paid-Up status.

c) Return of Mortality Charges (RoMC) and Return of

Premium Allocation Charge (RoPAC) (Applicable

only in Growth Variant): Subject to Policy being in force

(including revived policies), the total amount of Mortality

charges (excluding any extra Mortality charge & or any

applicable tax/cess levied) and total Premium Allocation

Charges (excluding any applicable tax/cess levied)

deducted during the Policy Term will be credited to the

Policy at maturity. RoMC and RoPAC will be allocated to

the Policy by creating additional Units across Investment

Funds, in the same proportion as the investment fund

allocation instruction then in effect.

RoMC and RoPAC shall not be credited in case of

Surrender, Discontinued or Paid-up Policy.

4. Grace Period

Grace period is the period, as mentioned below, which shall

be applicable to the Policyholder to pay all the unpaid

premiums, in case the premiums had not been paid as on

the Premium Due date.

The Policyholder gets the Grace period of:

• Fifteen (15) days in case of Monthly Premium Payment

Mode

• Thirty (30) days in case of Annual Premium Payment

mode

to pay the premiums which fell due and the benefits under

the Policy remain unaltered during this period.

During the said Grace period, the policy will be inforce

status.

Grace Period is not applicable for Single Premium Payment

Policy.

5. Payment of Premium

i. You are required to pay Premiums on the due dates and

for the amount mentioned in the Policy Schedule.

ii. You are required to pay Premiums for the entire

Premium Payment Term.

iii. If Single Pay option has been chosen by You, only one

Premium is to be paid and no future Premiums are

payable.

iv. Premium Payment modes available under the Policy are

annual, half yearly, quarterly and monthly.

v. If the Policyholder discontinues the payment of

premiums, the Policy will be treated as Lapsed or Paid-

up as per the conditions under Part D section 2.

6. Riders

In case the Policyholder opts for a Rider, the outstanding

term of the Base Policy will be at least equal to 5 years. The

Policy Term of the Rider shall be less than or equal to the

Premium Payment Term of the Base Policy.

The Premium pertaining to health related or critical illness

riders shall not exceed 100% of premium under the Base

Policy, the Premiums under all other life insurance Riders

put together shall not exceed 30% of premiums under the

Base Policy and any benefit arising under each of the above

mentioned Riders shall not exceed the Sum Assured under

the Base Policy.

UIN: 130L100V03

1. Free Look Period

If Policyholder disagrees with any of the terms and

conditions of the Policy, there is an option to return the

original Policy along with a letter stating reason/s within 15

days of receipt of the Policy in case of offline Policy and

within 30 days of receipt of the Policy in case of electronic

Policy & policy sourced through distance marketing (i.e.

online sales). The Policy will accordingly be cancelled and

the Company will refund the premium amount paid by the

Policyholder excluding the Proportionate risk premium for

the period on cover and the medical expenses incurred by

the insurer and stamp duty charges.

In addition to this, the Company shall also be entitled to

repurchase the units at the price of the units on the date of

cancellation.

All rights under this Policy shall stand extinguished

immediately on cancellation of the Policy under the free look

option.

If the Policy is opted through Insurance Repository (IR), the

computation of the said Free Look Period will be as stated

below:-

For existing e-Insurance Account: Computation of the said

Free Look Period will commence from the date of delivery of

the e mail confirming the credit of the Insurance Policy by

the IR.

For New e-Insurance Account: If an application for e-

Insurance Account accompanies the proposal for insurance,

the date of receipt of the ‘welcome kit’ from the IR with the

credentials to log on to the e-Insurance Account(e IA) or the

delivery date of the email confirming the grant of access to

the eIA or the delivery date of the email confirming the credit

of the Insurance policy by the IR to the eIA, whichever is

later shall be reckoned for the purpose of computation of the

free look period.

2. Discontinuance of Premium Provision

I. Discontinuance of Policy during the lock-in Period:

a) For other than single premium policies, upon expiry of

the grace period, in case of discontinuance of Policy due

to non-payment of premium, the fund value after

deducting the applicable discontinuance charges shall be

credited to the discontinued policy fund and the risk

cover and rider cover, if any, shall cease.

b) Such discontinuance charges shall not exceed the

charges, stipulated in ‘Charges’ section – Discontinuance

charges of this document. All such discontinued policies

shall be provided a revival period of three years from

date of first unpaid premium. On such discontinuance,

the Company will communicate the status of the Policy,

within three months of the first unpaid premium, to the

Policyholder and provide the option to revive the Policy

within the revival period of three years.

i. In case the Policyholder opts to revive but does not

revive the Policy during the revival period, the

proceeds of the discontinued policy fund shall be paid

to the Policyholder at the end of the revival period or

lock-in period whichever is later. In respect of revival

period ending after lock-in period, the Policy will

remain in discontinuance fund till the end of revival

PART D

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

period. The Fund management charges of

discontinued fund will be applicable during this period

and no other charges will be applied.

ii. In case the Policyholder does not exercise the option

as set out above, the Policy shall continue without

any risk cover and rider cover, if any, and the policy

fund shall remain invested in the discontinuance fund.

At the end of the lock-in period, the proceeds of the

discontinuance fund shall be paid to the Policyholder

and the Policy shall terminate.

iii. However, the Policyholder has an option to surrender

the Policy anytime and proceeds of the discontinued

policy shall be payable at the end of lock-in period or

date of surrender whichever is later.

c) In case of Single premium policies, the Policyholder has

an option to surrender any time during the lock-in period.

Upon receipt of request for surrender, the fund value,

after deducting the applicable discontinuance charges,

shall be credited to the discontinued policy fund.

i. Such discontinuance charges shall not exceed the

charges stipulated in ‘Charges’ – Discontinuance

charges of this document.

ii. The Policy shall continue to be invested in the

discontinued policy fund and the proceeds from the

discontinuance fund shall be paid at the end of lock-in

period. Fund management charge can be deducted

from this fund during this period. Further, no risk

cover shall be available on such policy during the

discontinuance period.

The minimum guaranteed interest rate applicable to the

‘Discontinued Policy Fund’ shall be as per the prevailing

regulations and is currently 4% p.a. The proceeds of the

discontinued policy shall be refunded only upon

completion of the lock-in period.

Proceeds of the discontinued policies means the fund

value as on the date the policy was discontinued, after

addition of interest computed at the interest rate

stipulated as above.

II. Discontinuance of Policy after the lock-in Period:

a) For other than Single Premium Policies:

i. Upon expiry of the grace period, in case of

discontinuance of Policy due to non-payment of

premium after lock-in period, the Policy shall be

converted into a reduced paid up policy with the paid-

up sum assured i.e. original sum assured multiplied

by the total number of premiums paid to the original

number of premiums payable as per the terms and

conditions of the Policy. The Policy shall continue to

be in reduced paid-up status without rider cover, if

any. All charges as per terms and conditions of the

Policy shall be deducted during the revival period.

However, the mortality charges shall be deducted

based on the reduced paid up sum assured only.

ii. On such discontinuance, the Company will

communicate the status of the Policy, within three

months of the first unpaid premium, to the

Policyholder and provide the following options:

Policy Servicing Related Aspects

UIN: 130L100V03

1. To revive the policy within the revival period of

three years, or

2. Complete withdrawal of the Policy.

iii. In case the Policyholder opts for (1) above but does

not revive the Policy during the revival period, the

fund value shall be paid to the Policyholder at the end

of the revival period.

iv. In case the Policyholder does not exercise any option

as set out above, the Policy shall continue to be in

reduced paid up status. At the end of the revival

period the proceeds of the policy fund shall be paid to

the Policyholder and the Policy shall terminate.

v. However, the Policyholder has an option to surrender

the Policy anytime and proceeds of the policy fund

shall be payable. In case of Single Premium Policies,

the Policyholder has an option to surrender the Policy

any time. Upon receipt of request for surrender, the

fund value as on date of surrender shall be payable.

In case of Single Premium Policies, the Policyholder has an

option to surrender the Policy any time. Upon receipt of request

for surrender, the fund value as on date of surrender shall be

payable.

NON-RECEIPT OF ANY NOTICE AS REQUIRED UNDER THIS

CONTRACT SHALL NOT BE CONSTRUED AS A BREACH OF

ANY CONTRACTUAL OBLIGATION ON OUR PART

3. Partial Withdrawal of Fund Value

The Policyholder has the option to apply for Partial Withdrawal

of funds from the Policy Fund Value in the specified form, at any

time after the completion of the Lock-in Period, if Policy is in

force or in Reduced Paid Up.

i. The minimum partial withdrawal limit is Rs 5,000.

ii. The Policy Fund Value should be at least equal to 120% of

one Annualized Premium for Regular/Limited Premium

Payment Policy or 25% of single premium for Single

Premium Payment Policy after a Partial Withdrawal.

iii. For Policies issued on minor lives, Partial Withdrawals shall

not be allowed until the minor life Insured attains majority i.e.

on or after attainment of Age 18.

In a Policy Year, the Policyholder is entitled to make any

number of Partial Withdrawals free of charge subject to the limit

of minimum and maximum Partial Withdrawal amount as

described above.

Partial withdrawal shall not be allowed if it would result in

termination of the contract.

SWP (Systematic Withdrawal Plan): is an automated partial

withdrawal facility which can be opted by the Policyholder under

Legacy Variant. Under this facility, a pre-decided amount will be

withdrawn from the Policy Fund Value from the end of chosen

policy year and paid to Policyholder till the end of the Policy

Term. At the time of the written request to effect the SWP, the

Policyholder needs to choose the following:

a. Systematic Withdrawal amount per annum, Payout will only

be annually.

b. Policy Year from which the amount under SWP will be

payable

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

SWP will be subject to following conditions:

a) SWP will start from 10th policy year or thereafter;

b) Maximum allowed systematic withdrawal should not be

greater than One Annualized premium.

The amount paid out to the Policyholder in each installment

will be withdrawn as Units from the Segregated Funds which

have been invested into in the same proportion. The Units

will be calculated as follows:

Systematic Withdrawal Amount chosen/ NAV

c) SWP option can be opted anytime during the Policy Term.

Once opted, the SWP options such as Systematic

withdrawal amount per annum, Policy year from which the

Systematic Withdrawal Plan (SWP), will be payable cannot

be changed.

d) The Policyholder may opt out of the Systematic Withdrawal

Plan option during the Policy Term by giving the Company

prior written request, in which case this option will cease to

be effective from the Policy Anniversary following the receipt

of the request. Once opted out, the Systematic Withdrawal

Plan cannot be re-chosen.

e) Minimum amount that can be withdrawn under SWP is Rs.

5,000 per installment.

f) If an installment amount to be withdrawn under SWP is less

than Rs. 5,000 such installment amount shall not be paid.

g) Fund Value after SWP installment and/or partial withdrawal

should be greater than or equal to 120% of one annualized

premium

h) Sum Assured at all times should be at least 10 times one

annualized premium

i) For Policies issued on minor lives, SWP shall not be allowed

until the minor life Insured attains majority i.e. on or after

attainment of age 18.

Both Systematic Withdrawal Plan and Partial Withdrawal can be

availed simultaneously. SWP will follow all other the conditions

of partial withdrawals.

4. Complete Withdrawal / Surrender

a) Complete withdrawal of this Policy within Lock-in

period: Upon Your request, Policy can be completely

withdrawn during lock-in period of 5 years. On complete

withdrawal of the Policy, fund value less applicable

discontinuance charges as on the date of

discontinuance, shall be credited into the Discontinued

Policy Fund maintained by the Company at a minimum

guaranteed rate of 4% p.a. or as prescribed by IRDAI of

India from time to time. The “Proceeds of the

Discontinued Policy” shall be payable to Policyholder

immediately after completion of the lock-in period. All

benefits in this Policy shall cease on the date of complete

withdrawal.

b) Complete withdrawal of Policy after Lock-in period:

Upon complete withdrawal of the policy after five policy

years, the Total Fund Value as on the date of complete

withdrawal, shall be payable and the Policy shall

terminate

UIN: 130L100V03

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

5. Settlement Option: The Policyholder may choose to

receive the Policy Fund Value as:

i. A lumpsum payment on the date of maturity

ii. At regular intervals chosen by the Policyholder, during

the Settlement Period as defined below

iii. A combination of the above

Settlement Period is the period not exceeding five years

commencing from the date of maturity and is an option

available to the Policyholder at maturity.

a) The Policyholder is required to apply to The Company, in

the specified form, intimating the choice at least 90 days

prior to the date of maturity. The default option in case of

non-receipt of such an application would be Option 1 as

mentioned above.

b) During the Settlement period the death benefit shall be

higher of existing Policy Fund Value or 105% of total

premiums paid as on the date of death. The mortality

charges shall be deducted accordingly.

c) In case Options 2 or 3 are chosen, the Policyholder is

required to choose a frequency of withdrawals

(monthly/quarterly/semi-annually/annually) from the

Fund.

d) Depending on the frequency of withdrawals chosen, the

number of units as on the date of maturity will be divided

equally as per the frequency. The withdrawal amount will

be calculated with the respective Unit Prices of the

relevant Investment Funds to which the Annual Regular

Premiums have been allocated as on their Valuation

Dates, multiplied by the number of units.

e) The Company shall levy fund management charge and

mortality charge during the settlement period and no

other charges shall be levied.

f) At any time during the Settlement Period the policy

holder can withdraw the balance available Policy Fund

value as on that date.

g) However, the Policyholder is not entitled to opt for partial

withdrawals or Switches between Investment Funds

during this period.

The inherent risk of fluctuating markets during the

Settlement Period, in respect of Policy Fund Value, shall be

borne by Policyholder and applicable Fund Management

Charge as specified in Clause 2 C under Part E will be

levied.

If the Life Insured dies during the settlement period, then the

higher of Policy Fund Value as on the date of death or 105%

of total premiums paid shall be paid to the Nominee or the

Policyholder as the case may be and the policy shall be

terminated.

6. Change in the Investment Fund Allocation (Premium

Redirection)

The Investment Fund Allocation as chosen by Policyholder at

the Date of Commencement of Risk of the Policy can be

modified only after the first Policy Year by submitting the

Investment Fund Allocation Instruction. Units will be created in

each of the prevalent Investment Funds for all the future

premiums as per the modified Investment Fund Allocation

Instruction.

The Investment Fund Allocation Instruction is subject to a

minimum allocation percentage in a chosen Investment Fund/s,

which is currently 5% of the Modal Premium. Currently, the

number of Investment Funds for Allocation is seven. The

change in the Investment Fund Allocation will be effective from

the next premium due date provided the premium is paid within

the due date.

Premium Redirection is not applicable for Single Premium

Payment Policy.

7. UNITS

a) Creation of Units

The Units shall be created based on the Unit Price.

Units will be created in the Investment Fund/s on receipt by the

Company of the premium along with a local cheque/demand

draft payable at par at the place where the premium/application

for Switch is received on the following basis:

i. the same day’s closing Unit Price shall be applicable if

received by 3.00 p.m.

ii. the next day’s closing Unit Price shall be applicable if

received after 3.00 p.m.

In respect of premiums received with outstation

cheques/demand drafts at the place where the premium is

received, the closing Unit Price of the day on which cheques/

demand draft is realized shall be applicable.

However, Units for the first premium shall be allocated on the

day the proposal is accepted and results into a Policy by

adjustment of proposal deposit towards premium.

In case the premium is paid in advance, Units will be created

only on the due date. No interest shall be payable on premium

paid in advance.

b) Cancellation of Units

Units will be cancelled from the Investment Funds, wherein an

application (including claims, Surrender, Free-Look option,

Policy closure, Switch request, Partial Withdrawal and

Discontinuance of Premium) is received by the Company:

i. by 3.00 p.m., at the same day’s closing Unit Price shall be

applicable.

ii. after 3.00 p.m., at the next day’s closing Unit Price shall be

applicable.

8. Reduced Paid Up

a) In the event of Reduced Paid Up, Policy shall continue with

Reduced Paid Up Sum Assured as mentioned below till the

end of the Revival Period:

Sum Assured X Number of Premiums Paid

Total Number of Premiums Payable

b) The timing of reduced benefits under a Paid up policy

remains unaltered and all applicable charges i.e. Policy

Administration Charge, Mortality Charge and Fund

Management Charge will continue to be levied.

UIN: 130L100V03

Events Description of Benefits payable in Reduced Paid Up status

Death

Paid

-up Death Benefit, which is the highest of:

Paid-Up Sum assured less all partial withdrawals* made during the two year period immediately

preceding the date of death of the Life Insured

Policy Fund Value(including any Loyalty Additions and Wealth Boosters already credited as on

date of Paid-up)

105% of all premiums paid as on date of death

Details of Partial withdrawals allowed are specified in Clause 3 Part D

In case of the death of the life insured during the Settlement Period (as defined in

Clause 5 Part D

above), the Higher of Policy Fund Value as on the date of death or 105% premiums paid shall be

payable and the policy will terminate.

Maturity

Policy Fund Value (including any Loyalty Additions and Wealth Boosters already credited as on date

of Paid up)

Loyalty Additions

Loyalty Additions will be credited to the Policy Fund Value after the Policy becomes Paid-up

Wealth Booster

Wealth Booster will be credited to the Policy Fund Value after the Policy becomes Paid-up

Return of Mortality Charge

(RoMC) and Return of

Premium Allocation

Charge (RoPAC)

RoMC and RoPAC shall be credited to the Policy Fund Value after the Policy becomes Paid-up

Surrender

Policy Fund Value (including any Loyalty Additions and Wealth Boosters already credited as on date

of Paid up)

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

9. Revival

a) Subject to Clause 2 under Part D (“Discontinuance of

Premium provision”), and subject to (i) Your written

application for revival is made within three(3) years from

the date of first unpaid premium; (ii) production of

Insured’s Declaration of Good Heath as per Board

approved Underwriting policy and other evidence of

insurability satisfactory to Us; (iii) payment of all overdue

premiums; the Policy may be revived Any evidence of

insurability requested at the time of revival will be based

on the prevailing Board approved underwriting policy.

b) Any revival shall only cover loss or Insured event which

occurs after the Revival Date.

c) The revival of the Policy may be on terms different from

those applicable to the Policy before it lapsed. The

revival will take effect only on it being specifically

communicated by the Company.

I. Revival of a discontinued policy during lock-in

period:

Where the policyholder exercises the option to revive the

policy, the policy shall be revived restoring the risk cover

along with the investments made in the segregated funds

as chosen by the policyholder, out of the discontinued

fund less the applicable charges as mentioned below

and conditions as mentioned above. The Company, at

the time of revival:

a) Shall collect all due and unpaid premiums without

charging any interest or fee.

b) May levy policy administration charge and premium

allocation charge as applicable during the

discontinuance period. No other charges shall be

levied.

c) Shall add back to the fund, the discontinuance charges

deducted at the time of discontinuance of the policy.

II. Revival of a discontinued policy after lock-in period:

The policyholder can revive the policy, as mentioned

above. Where the policyholder revives the policy, the

policy shall be revived restoring the original risk cover in

accordance with the terms and conditions of the policy.

The insurer, at the time of revival:

a) Shall collect all due and unpaid premiums under base

plan without charging any interest or fee.

b) Will levy premium allocation charge as applicable.

c) No other charges shall be levied.

10.Suicide

In case of death due to suicide within 12 months from the date of

Commencement of the Policy or from the date of Revival of the

Policy as applicable, the Nominee or beneficiary of the

Policyholder shall be entitled to the Fund Value as available on

the date of intimation of death.

Any charges recovered, other than Fund Management Charges

and guarantee charges subsequent to the date of death shall be

added back to the fund value as available on the date of

intimation of death.

11.Termination

The Policy will terminate on the earliest of the following:

a) On the date the Surrender Value is paid to the Policyholder.

b) Upon receipt of written intimation about the death of Life

Insured along with a supporting document to the satisfaction

of the Company and on payment of Death Benefit or

UIN: 130L100V03

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

c) If at any time after the Lock-in Period, the Fund Value falls

below at least one Annualized Premium, the Policy shall

stand terminated.

d) The Maturity Date of the Policy and on payment of Maturity

Benefit; or

e) Acceptance of Free look request by the Company.

f) On payment of Fund Value in case of Suicide.

12.Loan

There is no provision of loan on the Policy.

13. Policy alterations / Modifications

Only a duly authorized officer of the Company has the power to

effect changes on the Policy/Plan at the request of the

Policyholder, subject to the rules of the Company and within the

regulatory parameters.

14.Advance Premium

i. Collection of advance premium shall be allowed within the

same financial year for the premium due in that financial

year. However, where the premium due in one financial year

is being collected in advance in earlier financial year, The

Company may collect the same for a maximum period of

three months in advance of the due date of the premium.

ii. The premium so collected in advance shall only be adjusted

on the due date of the premium.

UIN: 130L100V03

1. INVESTMENT FUNDS

A. The Company holds legal and beneficial interests in the

assets of each Investment Fund and has sole discretion

on the investment and the management of each

Investment Fund within the defined asset portfolio

Allocation as set out under Clause 1B Part E. The

Investment Funds currently offered under the Policy by

PART E

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

Investment Fund Objective

Asset Category and

Asset Allocation

Risk-Return

Potential

Growth Opportunities Plus Fund

SFIN:

ULIF01614/12/2009EGRWTHOPPL130

To provide long term capital

appreciation by investing in stocks

across all market capitalization

ranges (Large, Mid or small)

Debt: NA

Money Market Instruments:

0% - 20%

Equities: 80% - 100%

High

Grow Money Plus Fund

SFIN:

ULIF01214/12/2009EGROMONYPL130

To provide long term capital

appreciation by investing across a

diversified high quality equity

portfolio

Debt: NA

Money Market Instruments:

0% - 20%

Equities: 80% - 100%

High

Build India Fund

SFIN:

ULIF01909/02/2010EBUILDINDA130

To provide long term capital

appreciation, through exposure to

equity investments in Infrastructure

and allied sectors, and by

diversifying investments across

various sub-sectors of the

infrastructure sector

Debt: 0% - 20%

Money Market Instruments:

0% - 20%

Equities: 80% - 100%

High

Save‘n’grow Money Fund

SFIN:

ULIF00121/08/2006BSAVENGROW130

To provide steady accumulation of

income in medium to long term by

investing in high quality debt

papers and government securities

and a limited opportunity of capital

appreciation. This would be more

of a defensively managed fund

Debt: 0% - 90%

Money Market Instruments:

0% - 40%

Equities: 0% - 60%

Moderate

Steady Money Fund

SFIN:

ULIF00321/08/2006DSTDYMOENY130

To provide steady accumulation of

income in medium to long term by

investing in corporate bonds and

government securities

Debt: 60% - 100%

Money Market Instruments:

0% - 40%

Equities: NA

Low

Safe Money Fund

SFIN:

ULIF01007/07/2009LSAFEMONEY130

To provide capital protection

through investment in low-risk

money-market & short-term debt

instruments with maturity of 1 year

or lesser.

Debt: 60% - 100%

Money Market Instruments:

0% - 40%

Equities: NA

Low

Stability Plus Money Fund

SFIN:

ULIF02322/02/17STAPLUMONF130

To provide long term absolute total

return through investing across a

diversified high quality debt

portfolio

Debt: 55% - 100%

Money Market Instruments:

0% - 20%

Equities: 0% - 25%

Moderate

Emerging Equity Fund

SFIN:

ULIF02507/04/23EMERGINGEQ130

To provide long term capital

appreciation through investing in a

portfolio of mid cap companies

Debt: NA

Money Market Instruments:

0% - 35%

Equities: 65-100%

High

the Company are - Growth Opportunities Plus Fund,

Grow Money Plus Fund, Save’n’grow Money Fund,

Steady Money Fund, Safe Money Fund, Build India

Fund, Stability Plus Money Fund and Emerging Equity

Fund.

B. The investment objective, risk profile and asset allocation

range for the various funds is as mentioned below:

UIN: 130L100V03

Note:

• Growth Opportunities Plus Fund, Grow Money Plus Fund,

Save’n’grow Money Fund, Build India Fund, Steady Money

Fund, Safe Money Fund Stability Plus Money Fund and

Emerging Equity Fund are the names of the Investment

Funds and do not in any manner indicate the quality of the

Investment Funds, their future prospects or returns.

• Investments in the Investment Funds are subject to market

and other risks and the achievement of the Objective of any

of the Investment Funds cannot be assured.

• The Company may from time to time change the asset

portfolio Allocation in the existing Investment Funds with the

approval of the Insurance Regulatory and Development

Authority of India (IRDAI).

The Company shall also maintain a Discontinued Policy Fund

that comprises of the fund values of all the Policies that have

been discontinued and will earn a minimum interest computed at

a rate specified by IRDAI from time to time which is currently 4%

pa. If the Company earns higher than 4% on Discontinued

Policy Fund, that will also be credited to Discontinued Policy

Fund. The Discontinued Policy Fund shall be a unit fund with the

following asset categories:

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

Assets

Discontinued Policy Fund

SFIN: ULIF02219/01/2011DDISCONTLF130

Money

Market

securities

0%-40%

Government

securities

60%-100%

The excess income earned in the Discontinued Policy Fund over

and above the minimum guaranteed interest rate shall also be

apportioned to the Discontinued Policy Fund. The proceeds

from the Discontinued Policy Fund shall be payable only upon

completion of Lock-in Period. However, in case of death of the

Life Insured, the proceeds of the Discontinued Policy Fund shall

be payable immediately to the Nominee.

You can, through a secured login, access the value of policy

wise units held by you in the format as per Form D02 prescribed

under IRDAI Investment Regulations, 2016.

C. Investment Strategy

At inception of the Policy, the Policyholder may also choose to

allocate the premium/s in one of the Investment strategies as

per the conditions of the Product, with a maximum of two

Investment strategies being available. If the Policyholder has

opted for any one of the Investment Strategies then the

Policyholder cannot opt for the other.

The two strategies available are as follows:

Dynamic Fund Allocation:

1. This Strategy can only be chosen on inception of the Policy.

2. In case this strategy is chosen at inception, the 1st

Premium and subsequent premiums will be allocated (after

deducting Premium Allocation Charges) to Grow Money

Plus Fund.

3. During the last 5 years of the Policy Term, the funds will

automatically be allocated between Grow Money Plus Fund

and Steady Money Fund

i. Limited Pay policies: In case of Limited Pay policies,

the Company will automatically allocate the monies

between Grow Money Plus Fund and Steady Money

Fund, from the end of 5th year before Policy Maturity, in

a pre-determined manner as described below through

switching Units in the respective Fund

ii. For Regular Pay Policies: The Company will

automatically allocate/ switch Units in the Funds on each

Policy Anniversary with respect to Regular Premium

received on Policy Anniversary or date of receipt of the

Regular Premium and switch Units in the Funds on each

Policy Anniversary, in a predetermined proportion

specified in the applicable table below:

Year

Existing Funds

Grow Money Plus

Fund

Steady Money

Fund

(PT-5) yr 80% 20%

(PT-4) yr 75% 25%

(PT-3) yr 70% 30%

(PT-2) yr 50% 50%

(PT-1) yr 0% 100%

Year

Existing Funds

New Premium

(Regular)

Grow

Money Plus

Fund

Steady

Money

Fund

Grow

Money Plus

Fund

Steady

Money

Fund

(PT-5) yr 80% 20% 80% 20%

(PT-4) yr 75% 25% 75% 25%

(PT-3) yr 70% 30% 70% 30%

(PT-2) yr 50% 50% 50% 50%

(PT-1) yr 0% 100% 0% 100%

4. You may opt out of the Dynamic Fund Allocation option

during the Policy Term by giving the Company prior written

request, in which case this option will cease to be effective

from the Policy Anniversary following the receipt of the

request. In such instances, the existing funds shall continue

to remain in the vested funds and new Premium amounts will

be allocated basis the funds and proportion chosen at

inception.

5. Once the Policyholder has opted out, then the Policyholder

shall not be permitted to recommence the Dynamic Fund

Allocation option during the Policy Term

6. While Dynamic Fund Allocation is operational Switching in or

out of the Steady Money Fund will cause the Dynamic Fund

Allocation to cease. Dynamic Fund Allocation will continue to

be active in Reduced Paid- Up status.

UIN: 130L100V03

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

Systematic Transfer Plan (STP)

1. This Strategy can only be chosen on inception of the Policy.

2. If the Systematic Transfer Plan is opted, then the Company

will automatically allocate the Single Premium/Regular

Premium received (after deducting Premium Allocation

Charges) to purchase Units in the Safe Money Fund. On

each subsequent monthly anniversary, the Fund Value of

[1/(13 less month number in the Policy Year)] of the Units

available at the beginning of the month] shall be switched to

the Grow Money Plus Fund by cancelling Units in the Safe

Money Fund, and purchasing Units in the Grow Money Plus

Fund till the availability of Units in Safe Money Fund. For

instance: Policy month 1: 1/(13-1)= 1/12th of the Units to be

switched Policy month 2: 1/(13-2)= 1/11th of the Units to be

switched Policy month 11: 1/(13-11)= 1/2 of the Units to be

switched Policy month 12: 1/(13- 12)= balance Units to be

switched.

3. The Company will not levy any switching charges for the

operation of the Systematic Transfer Plan.

4. You shall not be permitted to make partial withdrawals from

the Safe Money Fund during the period when this option is in

force.

5. You may opt out of the Systematic Transfer Plan during the

Policy Term by giving the Company a prior written notice, in

which case this option will cease to be effective from the

next Monthly Policy Anniversary following the receipt of the

request.

6. While STP is operational, you are not allowed to change

your fund choice.

7. This strategy can be availed only on annual Premium

payment mode and will be active during the Premium

Payment Term chosen by you provided due Premium has

been paid. STP cannot be opted once all Premiums payable

under the Policy have been paid.

8. If due Premium is not received during the Grace Period, STP

will cease to be operational.

9. The Premiums received after the expiry of Grace Period will

be allocated entirely to the Grow Money Plus Fund unless

otherwise specified by You.

10.If you give the request for Premium redirection or to change

to monthly Premium payment mode then such request will

make STP ineffective.

11.Once STP ceases to exist, your future Premiums will

continue to be invested in the Grow Money Plus Fund

chosen at the time of opting STP unless otherwise specified

by you.

D. Investment Fund Addition

The Company may from time to time create and add new

Investment Funds with different fees/ charges with the approval

of the Insurance Regulatory and Development Authority of India

(IRDAI) and consequently, new Investment Funds may be made

available to Policyholder. All provisions of the Policy will apply

to such new Investment Funds unless stated otherwise.

E. Switch amongst Investment Funds

There is an option available to the Policyholders to apply for

Switch of Investment Fund/s from one Investment Fund to

another through a Switch Application Form specified by the

Company, subject to Policy being in force. The facility of Switch

would be subject to the administrative rules of the Company,

existing at the time of Your Switch application and will be

applicable to all Premium Payment Term options. Switch of funds

will be effected at a Unit Price declared on the date Your Switch

application is received and accepted by the Company before

3.00 p.m. and on the next day’s Unit Price declared if the

application is received and accepted at the Company after 3.00

p.m. The Policyholder is entitled to make any number of

Switches in a Policy Year free of charge. The minimum

investment in any allocated fund should not be less than 5% of

the Fund Value at the time of allocation, However, there is no

minimum amount of transaction.

F. Investment Fund Closure

The Company reserves the right to close any Investment Fund at

any time by giving a three month written notice of its intention to

close an Investment Fund and from the date of such closure the

Company will cease to create or cancel Units in the said

Investment Fund (‘Closing Investment Fund’). Closure of an

Investment Fund shall be subject to prior approval of IRDAI and

will follow the guidelines issued by IRDAI from time to time. The

Company will require the Policyholder who has invested in the

Closing Investment Fund to replace it with another Investment

Fund/s (‘Replacing Investment Fund’) before the date specified

in the written notice of The Company. Upon receiving the notice

from the Policyholder, Units in the Closing Investment Fund

allocated to this Policy will be cancelled on the last Valuation

Date of the Closing Investment Fund. The Company will replace

the Closing Investment Fund with the Replacing Investment

Fund/s chosen by the Policyholder, by creating Units in the

Replacing Investment Fund/s, with proceeds from the

cancellation of Units in the Closing Investment Fund on the last

Valuation Date of the Closing Investment Fund.

If The Company has not received valid notice from the

Policyholder for modification of the Investment Fund Allocation

by the time of closure of the Investment Fund, the Company will:

• Switch the funds from the Closing Investment Fund to the

‘Stability Plus Money Fund’. This switch will be free of charge.

• Change the Investment Fund Allocation in such a way that

the percentage allocated to the Closing Investment Fund is

added to the percentage allocated to the ‘Stability Plus

Money Fund’.

G. Risks of investments

Investments in any of the Investment Funds are subject to the

following, amongst other risks:

• The Unit Price of any Investment Fund may increase or

decrease as per the performance of the financial markets.

• The past performance of these or other Investment Funds of

the Company do not indicate the future performance of these

Investment Funds.

The investment risk in investment portfolio is borne by the

Policyholder.

UIN: 130L100V03

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

2. POLICY CHARGES

Applicable taxes on Policy Charges as per prevailing regulations

will be levied at the prevailing rates.

A. Premium Allocation Charge

The Company will levy an Allocation Charge as a

percentage of the Annualised Premium. The balance

allocation amount will be utilized to purchase Units for the

Policy in accordance with the Investment Fund Allocation

mentioned by the Policyholder.

The allocation charge is as per the tables below:

For Online Channel:

Policy

Year

Single

Premium

Limited/

Regular

Premium

Annual Mode

Limited/

Regular

Premium

Non Annual

Mode

Year 1 1.0% 6.0% 4.5%

Year 2 - 5.0% 3.0%

Year 3 - 4.0% 3.0%

Year 4 - 3.0% 2.0%

Year 5+ - 2.0% 2.0%

For Other Channels

Policy

Year

Single

Premium

Limited/

Regular

Premium

Annual Mode

Limited/

Regular

Premium

Non Annual

Mode

Year 1 3% 9.0% 7.5%

Year 2 - 7.0% 5.0%

Year 3 - 5.0% 4.0%

Year 4 - 3.0% 2.0%

Year 5 + - 2.0% 2.0%

B. Policy Administration Charge

This charge shall represent the expenses other than those

covered by the fund management expenses. This charge is

levied at the beginning of each Policy month from the unit

fund by canceling Units of an equivalent amount.

The Policy Administration Charge will be deducted by

cancellation of Units from the Policy Fund Value at the

prevailing Unit Price on the corresponding Policy Date in

each Policy Month as a percentage of Annualized Premium

for Regular and Limited Premium Payment Policy and as a

percentage of single premium for Single Premium Payment

Policy.

The monthly Policy administration charge is as per the table

below:

Policy Year Single Premium

Limited/Regular

Premium

1 - 5 0.15% 0.15%

6 - 10 Nil 0.45%

11+ Nil Nil

The Policy administration charge is subject to a maximum of

Rs 500 per month.

These charges are exclusive of applicable taxes.

C. Fund Management Charge

Fund Management Charge will be charged by adjustment of

the Unit Price on the Investment Fund/s on each Valuation

Date. This is a charge levied as a percentage of the value of

assets and shall be appropriated by adjusting the Net Asset

Value. This is a charge levied at the time of computation of

NAV, which is usually done on daily basis.

Fund

Fund Management

Charge (as a % of Fund

Value)

Growth Opportunities Plus Fund 1.35% per annum

Grow Money Plus Fund 1.35% per annum

Build India Fund 1.35% per annum

Emerging Equity Fund 1.35% per annum

Save’n’grow Money Fund 1.25% per annum

Steady Money Fund 1.00% per annum

Safe Money Fund 1.00% per annum

Stability Plus Money Fund 0.80% per annum

Discontinued Policy Fund 0.50% per annum

The above charges (except for Discontinued Policy Fund) will

not exceed the maximum cap prescribed by IRDAI which is

currently 1.35% p.a.

The fund management charges for Discontinued Policy Fund

will not exceed the maximum cap prescribed by IRDAI which is

currently 0.50% pa.

These charges are exclusive of applicable taxes.

D. Mortality Charge

This charge is levied to provide the life insurance benefit. This

charge is applied on the Sum at Risk (as defined below) and

is deducted proportionately by cancellation of Units on a

monthly basis. The annual charge per thousand of Sum at

Risk will be based on the attained Age of the policyholder,

age last birthday.

Sum at Risk is defined as the higher of excess of Sum

Assured over Policy Fund Value as on the corresponding

Policy Date in the Policy Month and zero. For Policy in paid

up status, the Sum at Risk is defined as the higher of excess

of paid up sum assured over Policy Fund Value as on the

corresponding Policy Date in the Policy Month and zero.

The rates of mortality charges are guaranteed to remain the

same during the policy term. These charges are exclusive of

Taxes.

This charge is applied on per 1000 Sum at Risk. Mortality

rates are as follows.

UIN: 130L100V03

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

Mortality rates* Per 1000 sum at risk per annum

Age Mortality Charge Age Mortality Charge

0 0.9150 50 4.4360

1 0.9150 51 4.9690

2 0.9150 52 5.5500

3 0.4700 53 6.1740

4 0.2710 54 6.8310

5 0.1850 55 7.5130

6 0.1520 56 8.2120

7 0.1490 57 8.9250

8 0.1670 58 9.6510

9 0.2060 59 10.3930

10 0.2650 60 11.1620

11 0.3410 61 11.9690

12 0.4290 62 12.8310

13 0.5220 63 13.7650

14 0.6140 64 14.7920

15 0.6980 65 15.9320

16 0.7700 66 17.2060

17 0.8290 67 18.6350

18 0.8740 68 20.2400

19 0.9050 69 22.0400

20 0.9240 70 24.0580

21 0.9340 71 26.3140

22 0.9370 72 28.8320

23 0.9360 73 31.6380

24 0.9330 74 34.7570

25 0.9310 75 38.2210

26 0.9310 76 42.0610

27 0.9340 77 46.3160

28 0.9420 78 51.0240

29 0.9560 79 56.2310

30 0.9770 80 61.9850

31 1.0050 81 68.3380

32 1.0420 82 75.3500

33 1.0860 83 83.0820

34 1.1400 84 91.6010

35 1.2020 85 100.9790

36 1.2750 86 111.2910

37 1.3580 87 122.6160

38 1.4530 88 135.0370

39 1.5600 89 148.6390

40 1.6800 90 163.5070

41 1.8150 91 179.7260

42 1.9690 92 197.3800

43 2.1440 93 216.5470

44 2.3450 94 237.3020

45 2.5790 95 259.7060

46 2.8510 96 283.8130

47 3.1680 97 309.6590

48 3.5360 98 337.2650

49 3.9580 99 366.6300

*There is a 3-year setback for female lives.

E. Discontinuance Charge

The Discontinuance Charge shall be levied at the time of

Surrender or on Discontinuance of Premium whichever is

earlier.

The Discontinuance charge for Regular and Limited Premium

Payment Policy will be computed as follows:

Year of

Discontinuance

of Premium/

Surrender

Charges for the

policies having

annualized

premium up to Rs.

50,000/-

Charges for the

policies having

annualized

premium above

Rs. 50,000/-

Lower of Lower of

a) 20% of

Annualized

Premium

a) 6% of

Annualized

Premium

b) 20% of Fund

Value

b) 6% of Fund

Value

c) Rs. 3,000 c) Rs. 6,000

Lower of Lower of

a) 15% of

Annualized

Premium

a) 4% of

Annualized

Premium

b) 15% of Fund

Value

b) 4% of Fund

Value

c) Rs. 2,000 c) Rs. 5,000

Lower of Lower of

a) 10% of

Annualized

Premium

a) 3% of

Annualized

Premium

b) 10% of Fund

Value

b) 3% of Fund

Value

c) Rs. 1,500 c) Rs. 4,000

Lower of Lower of

5% of Annualized

Premium

a) 2% of

Annualized

Premium

b) 5% of Fund

Value

b) 2% of Fund

Value

c) Rs. 1,000 c) Rs. 2,000

5 and onwards NIL NIL

UIN: 130L100V03

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

The Discontinuance charge for Single Premium Payment Policy

will be computed as follows

Year of

Discontinuance

of Premium/

Surrender

Charges for the

policies having

Single Premium

up to Rs.

3,00,000/-

Charges for the

policies having

Single Premium

above Rs.

3,00,000/-

Lower of Lower of

a) 2% of Single

Premium

a) 1% of Single

Premium

b) 2% of Fund

Value

b) 1% of Fund

Value

c) Rs. 3,000 c) Rs. 6,000

Lower of Lower of

1.5% of Single

Premium

a) 0.7% of Single

Premium

b) 1.5% of Fund

Value

b) 0.7% of Fund

Value

c) Rs. 2,000 c) Rs. 5,000

Lower of Lower of

a) 1% of Single

Premium

a) 0.5% of Single

Premium

b) 1% of Fund

Value

b) 0.5% of Fund

Value

c) Rs. 1,500 c) Rs. 4,000

Lower of Lower of

0.5% of Single

Premium

0.35% of Single

Premium

b) 0.5% of Fund

Value

b) 0.35% of Fund

Value

c) Rs. 1,000 c) Rs. 2,000

5 and onwards

NIL

F. Revision of Policy Charges

The Company may at any time revise the below mentioned

charge to the maximum limit as indicated, subject to prior

approval from Insurance Regulatory and Development

Authority of India (IRDAI):

Fund Management Charge: The maximum charge shall not

exceed be the cap as prescribed by IRDAI which is currently

1.35% p.a.

3. Force Majeure

a) The Company shall value the Funds (SFIN) on each day

for which the financial markets are open. However, the

Company may value the SFIN less frequently in extreme

circumstances external to the Company i.e. in force

majeure events, where the value of the assets is too

uncertain. In such circumstances, the Company may

defer the valuation of assets for up to 30 days until the

Company is certain that the valuation of SFIN can be

resumed.

b) The Company shall inform IRDAI of such deferment in

the valuation of assets. During the continuance of the

force majeure events, all requests for servicing the policy

including policy related payment shall be kept in

abeyance.

c) The Company shall continue to invest as per the fund

mandates submitted in Section E (1B) above. However,

the Company shall reserve its right to change the

exposure of all or any part of the Fund to Money Market

Instruments in circumstances mentioned under points (a

and b) above. The exposure to of the fund as per the

fund mandates submitted in Section E (1B) shall be

reinstated within reasonable timelines once the force

majeure situation ends.

d) Few examples of circumstances as mentioned [in point 3

(a & b) above] are:

i. When one or more stock exchanges which provide a

basis for valuation of the assets of the fund are

closed otherwise than for ordinary holidays.

ii. When, as a result of political, economic, monetary or

any circumstances which are not in the control of the

insurer, the disposal of the assets of the fund would

be detrimental to the interests of the continuing

Policyholders.

iii. in the event of natural calamities, strikes, war, civil

unrest, riots and bandhs.

iv. in the event of any force majeure or disaster that

affects the normal functioning of the Insurer.

e) In such an event, an intimation of such force majeure

event shall be uploaded on the Company’s website for

information.

UIN: 130L100V03

PART F

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

1. Fraud And Misstatement

Fraud, Misstatement would be dealt with in accordance with

provisions of Sec 45 of the Insurance Act 1938 as amended

from time to time. [A Leaflet c ontaining the simplified

version of the provisions of Section 45 is enclosed in

appendix – IV for reference]

2. Claims

The Company would require the following primary

documents in support of a claim at the stage of claim

intimation under the Policy:

For Maturity Benefit: Claimant’s Statement, KYC

Documents and personalized cancelled cheque of the

Claimant or beneficiary, acceptable to the Company.

For Death Benefit (other than death due to

Accident/natural death): the original Policy (entire booklet),

Death Certificate of the Life Insured. Claimant’s Statement

and KYC Document of Nominee or beneficiary, acceptable

to the Company and Copy of medical records pertaining to

treatment taken by the insured such as admission notes,

discharge / death summary, test report etc. in case of

hospitalization.

For Death Benefit (death due to Accident/Unnatural

death): First Information Report (FIR) and Post Mortem

report is required in addition to the documents required for

Death Benefit (other than death due to Accident/ natural

death) as mentioned above.

The Company is entitled to call for additional documents, if in

the opinion of the Company such additional documents are

warranted to process the claim.

Easy ways of claim intimation

i. Walk in to your nearest Bharti AXA Life Branch

ii. Call us Toll Free: 1800-102-4444*

iii. Intimate Online through Claims Portal:

https://online.bhartiaxa.com/OnlineClaims

iv. Have us call you*

v. E-mail us: [email protected]

vi. Submit online claim through our website

www.bhartiaxa.com

*Claims intimated through these modes will be considered as

verbal intimation. Claim will be formally registered only when

written intimation is received at branch or directly to Claims

team at Service Office

3. Misstatement of Age and Gender:

i. If the correct Age of the Life Insured is different from that

mentioned in the proposal form, the Company will assess

the eligibility of the Life Insured for the Policy in

accordance with the correct Age of the Life Insured.

ii. If on the basis of correct Age, the Life Insured is not

eligible for the Policy, the Policy shall be cancelled

immediately by refunding the premium received by the

Company under the Policy as per the provisions of

Section 45 of Insurance Act as amended from time to

time.

iii. If the Life Insured is eligible for the Policy as per his / her

correct Age, then the Company will calculate the

applicable charges basis the correct Age of Life Insured

and will accordingly adjust the Fund Value / Coverage

Sum Assured.

4. Assignment and Nomination

Assignment: Assignment shall be in accordance with the

provisions of sec 38 of the Insurance Act 1938 as amended

from time to time.

[A Leaflet containing the simplified version of the

provisions of Section 38 is enclosed in annexure – (II)

for reference]

Nomination: Nomination shall be in accordance with the

provisions of sec 39 of the Insurance Act 1938 as amended

from time to time.

[A Leaflet containing the simplified version of the

provisions of Section 39 is enclosed in annexure – (III)

for reference]

5. Vesting of Ownership

In case the Life Insured is a minor, the ownership of Policy

will automatically vest on the Life Insured on attainment of

majority. In case of death of the Policyholder while the Life

Insured is a minor, surrender and any other such options

available under the policy cannot be exercised during the

period of minority of the Life Insured.

6. Incorrect information and Non-Disclosure

The Policyholder and the Life Insured under the Policy have

an obligation to disclose every fact material for assessment

of the risk in connection with issuance of the Policy.

In case of fraud, misrepresentation and suppression of

material facts the Policy contract shall be treated in

accordance with the Section 45 of the Insurance Act,1938 as

amended from time to time.

7. Taxation

The tax benefits, if any, on the Policy may be available as

per the prevailing provisions of the tax laws in India. If

required by the relevant legislations prevailing from time to

time, the Company will withhold taxes from the benefits

payable under the Policy. The Company reserves the right to

recover statutory levies including applicable taxes by way of

adjustment of the premiums paid by the Policyholder.

8. Notices

Any notice to be given to the Policyholder under the Policy

will be issued by post or electronic mail or telephone

facsimile transmission to the latest address/es/fax

number/email of the Policyholder available in the records of

the Company.

Any change in the address of the Policyholder should be

informed to the Company so as to ensure timely

communication of notices and to the correct address.

Kindly refer to Part G section 1 of the Bond for intimating

about the change in existing details.

General Terms and Conditions

UIN: 130L100V03

9. Currency and Place of Payment

All payments to or by the Company will be in Indian rupees

and shall be in accordance with the prevailing Exchange

Control regulations and other relevant laws in force in India.

10.Mode of communication

The Company and the Policyholder may exchange

communications pertaining to the Policy either through

normal correspondence or through electronic mail and the

Company shall be within its right to seek clarifications / to

carry out the mandates of the Policyholder on merits in

accordance with such communications. While accepting

requests / mandate from the Policyholder through electronic

mail, the Company may stipulate such conditions as deemed

fit to give effect to and comply with the provisions of

Information Technology Act 2000 and/ or such other

applicable laws in force from time to time.

11.Governing Laws & Jurisdiction

The terms and conditions of the Policy Document shall be

governed by and shall be subject to the laws of India. The

parties shall submit themselves to the jurisdiction of the

competent court/s of law in India in respect of all matters and

disputes which may arise out of in connection with the Policy

Document and / or relating to the Policy.

12.Term used and its meaning

If a particular term is not defined or otherwise articulated

either in the Policy Document or under the Policy, endeavor

shall be to impart the natural meaning to the said term in the

context in which it is used.

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

UIN: 130L100V03

PART G

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

1. Customer Service

You can seek clarification or assistance on the Policy from

the following:

• The Advisor through whom the Policy was bought

• The Customer Service Representative of The Company

at toll free no. 1800 102 4444

• SMS "SERVICE" to 56677

• WhatsApp us ‘Hi’ at 02248815768

• Email: service@bhartiaxa.com

• Mail to: Customer Service

Bharti AXA Life Insurance Company Ltd.

Spectrum tower, 3rd Floor,

Malad link road, Malad (west),

Mumbai 400064. Maharashtra’

2. Grievance Redressal Procedure

Step 1: Inform us about your grievance

In case you have any grievance, you may approach our

Grievance Redressal Cell at any of the below-mentioned

helplines:

• Lodge your complaint online at www.bhartiaxa.com

• Call us at our toll free no. 1800 102 4444

• Email us at complaints.unit@bhartiaxa.com

• Write to us at:

Registered Office:

Bharti AXA Life Insurance Company Ltd.

Unit No. 1902, 19th Floor, Parinee Crescenzo

'G' Block, Bandra Kurla Complex, BKC Road,

Behind MCA Ground, Bandra East,

Mumbai - 400051, Maharashtra’

Grievance Redressal Cell:

Bharti AXA Life Insurance Company Ltd.

Spectrum tower, 3rd Floor,

Malad link road, Malad (west),

Mumbai 400064. Maharashtra’

• Visit our nearest branch and meet our Grievance Officer

who will assist you to redress your grievance/ lodge your

complaint.

Step 2: Tell us if you are not satisfied

In case you are not satisfied with the decision provided or if

you have not received any response post completion of 14

days, you may write to Head - Customer Service for

resolution at the above mentioned address or email

at: head[email protected]

You are requested to inform us about your concern (if any)

within 8 weeks of receipt of resolution as stated above,

failing which it will be construed that the complaint is

satisfactorily resolved.

If you are not satisfied with the response or do not receive a

response from us within 14 days, you may approach the

Grievance Cell of the Insurance Regulatory and

Development Authority of India (IRDA of India) on the

following contact details:

Integrated Grievance Management System (IGMS)

TOLL FREE NO: 1800 4254 732 or 155255

Email ID: [email protected]

You can also register your complaint online at

https://bimabharosa.irdai.gov.in/

Address for communication for complaints by paper:

General Manager

Insurance Regulatory and Development Authority of

India(IRDAI)

Consumer Affairs Department – Grievance Redressal Cell.

Sy.No.115/1, Financial District, Nanakramguda,

Gachibowli, Hyderabad – 500 032

Step 3: If you are not satisfied with the resolution

provided by the Company

Where the redressal provided by the Company is not

satisfactory despite the escalation above, the customer may

represent the case to the Ombudsman for Redressal of the

grievance, if it pertains to the following:

• Delay in settlement of claim

• Partial or total rejection of claim

• Dispute with regard to premium

• Misrepresentation of policy terms and conditions

• Legal construction of the policy in so far as dispute

related to claim

• Grievance relating to policy servicing

• Issuance of policy which is not in conformity with

proposal form

• Non- issuance of your insurance document and

• Any other matter resulting from the violation of provisions

of the Insurance Act, 1938 or the regulations, circulars,

guidelines or instructions issued by the IRDAI from time

to time or the terms and conditions of the policy contract,

in so far as they relate to issues mentioned hereinabove.

The complaint should be made in writing duly signed by the

complainant or through his legal heirs, Nominee(s)/legal

heirs in case of death of the Nominee(s)or Assignee, and

shall state clearly the name and address of the complainant,

the name of the branch or office of the insurer against whom

the complaint is made, the facts giving rise to the complaint,

supported by documents, the nature and extent of the loss

caused to the complainant and the relief sought from the

Insurance Ombudsman. As per provision 14(3) of the

Insurance Ombudsman Rules, 2017, the complaint to the

Ombudsman can be made, within a period of one year

provided it is not simultaneously under any litigation:

• Only if the grievance has been rejected by the Grievance

Redressal Machinery of the Insurer; or

• the complainant had not received any reply within a

period of one month after the Insurer received his

representation; or

• the complainant is not satisfied with the reply given to

him by the insurer.

For informative purpose and for Your ready reference,

the relevant clause/s of the Insurance Act,1938 as

amended from time to time are reproduced below:

Section 41 of the Insurance Act, 1938, as amended from

time to time:

1) “No person shall allow or offer to allow, either directly or

indirectly, as an inducement to any person to take out or

renew or continue an insurance in respect of any kind of

Grievance Redressal

UIN: 130L100V03

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

risk relating to lives or property in India, any rebate of the

whole or part of the commission payable or any rebate of

the premium shown on the Policy, nor shall any person

taking out or renewing or continuing a Policy accept any

rebate, except such rebate as may be allowed in

accordance with the published prospectus or tables of

the insurer:

2) Any person making default in complying with the

provisions of this section shall be liable for a penalty

which may extend to ten lakh rupees.”

Section 13 of the Insurance Ombudsman Rules, 2017:

Duties and Powers of Insurance Ombudsman

1) The Ombudsman shall receive and consider complaints or

disputes relating to—

a) Delay in settlement of claims, beyond the time specified

in the regulations, framed under the Insurance

Regulatory and Development Authority of India Act,

1999;

b) Any partial or total repudiation of claims by the Company;

c) Disputes over premium paid or payable in terms of

insurance policy;

d) Misrepresentation of policy terms and conditions at any

time in the policy document or policy contract;

e) Legal construction of insurance policies in so far as the

dispute relates to claim;

f) Policy servicing related grievances against insurers and

their agents and intermediaries;

g) Issuance of life insurance policy, general insurance

policy including health insurance policy which is not in

conformity with the proposal form submitted by the

proposer;

h) Non-issuance of insurance policy after receipt of

premium in life insurance; and

i) Any other matter resulting from the violation of provisions

of the Insurance Act, 1938, as amended from time to

time, or the regulations, circulars, guidelines or

instructions issued by the IRDAI from time to time or the

terms and conditions of the policy contract, in so far as

they relate to issues mentioned at clauses (a) to (f).

2. The Ombudsman shall act as counsellor and mediator

relating to matters specified in sub-rule (1) provided there is

written consent of the parties to the dispute.

3. The Ombudsman shall be precluded from handling any

matter if he is an interested party or having conflict of

interest.

4. The Central Government or as the case may be, the IRDAI

may, at any time refer any complaint or dispute relating to

insurance matters specified in sub-rule (1), to the Insurance

Ombudsman and such complaint or dispute shall be

entertained by the Insurance Ombudsman and be dealt with

as if it is a complaint made under Clause provided herein

below.

Section 14 of the Insurance Ombudsman Rules, 2017:

Manner in which complaint to be made

1) Any person who has a grievance against the Company, may

himself or through his legal heirs, nominee or assignee,

make a complaint in writing to the Insurance Ombudsman

within whose territorial jurisdiction the branch or office of the

Company complained against or the residential address

or place of residence of the complainant is located.

2) The complaint shall be in writing, duly signed by the

complainant or through his legal heirs, nominee or

assignee and shall state clearly the name and address of

the complainant, the name of the branch or office of the

Company against whom the complaint is made, the facts

giving rise to the complaint, supported by documents, the

nature and extent of the loss caused to the complainant

and the relief sought from the Insurance Ombudsman.

3) No complaint to the Insurance Ombudsman shall lie

unless—

a. the complainant makes a written representation to the

Company named in the complaint and—

i. either the Company had rejected the complaint; or

ii. the complainant had not received any reply within

a period of one month after the Company received

his representation; or

iii. the complainant is not satisfied with the reply given

to him by the Company;

b. The complaint is made within one year—

i. after the order of the Company rejecting the

representation is received; or

ii. after receipt of decision of the Company which is

not to the satisfaction of the complainant;

iii. after expiry of a period of one month from the date

of sending the written representation to the

Company if the Company fails to furnish reply to

the complainant.

4) The Ombudsman shall be empowered to condone the

delay in such cases as he may consider necessary, after

calling for objections of the Company against the

proposed condonation and after recording reasons for

condoning the delay and in case the delay is condoned,

the date of condonation of delay shall be deemed to be

the date of filing of the complaint, for further proceedings

under these rules.

5) No complaint before the Insurance Ombudsman shall be

maintainable on the same subject matter on which

proceedings are pending before or disposed of by any

court or consumer forum or arbitrator.

UIN: 130L100V03

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

Address & Contact Details of Ombudsman Centres

Council for Insurance Ombudsmen (Monitoring Body for Offices of Insurance Ombudsman)

3rd Floor, Jeevan Seva Annexe, S V Road, Santacruz (West), Mumbai – 400054.

Tel no: 022-26106671/6889/980. Email id: [email protected].in website:www.cioins.co.in

If you have a grievance, approach the grievance cell of Insurance Company first. If complaint is not resolved/

not satisfied/not responded for 30 days then You can approach The Office of the Insurance Ombudsman

(Bimalokpal)

Please visit our website for details to lodge complaint with Ombudsman.

List of Ombudsman

(For the updated list You may refer to IRDAI website)

=================================================================================

Annexure I- List of Ombudsman

(For the updated list you may refer to IRDAI website)

Office of the

Ombudsman

Address Contact Details Areas of Jurisdiction

AHEMDABAD Office of the Insurance Ombudsman,

Jeevan Prakash Building, 6th Floor,

Tilak Marg, Relief Road,

Ahemdabad- 380 001

Tel: 079 - 25501201/02/05/06

Email:

bimalok[email protected]

Gujrat, Dadra & Nagar

Haveli, Daman & Diu

Bengaluru Office of the Insurance Ombudsman,

Jeewan Soudha Building, PID No.

57-27-N-19,Ground Floor, 19/19,

24th Main Road, JP Nagar, 1st

Phase

Bengaluru- 560 078

Tel.: 080 – 26652048/ 26652049

Email:

bimalok[email protected]

Karnataka

BHOPAL

Office of the Insurance Ombudsman,

1st Floor of LIC Zonal Office

Building, Jeevan Shikha, 60-B,

Hoshangabad Road, (Opp Gayatri

Mandir)

Bhopal 462011

Tel.: 0755 - 2769201 / 2769202

Email: bimalokpa[email protected]

Madhya Pradesh,

Chhattisgarh

BHUBANESHWAR

Office of the Insurance Ombudsman,

62, Forest Park,

BHUBANESHWAR-751 009

Tel.: 0674 - 2596461 /2596455

Email:

bimalok[email protected]

Odisha

CHANDIGARH Office of the Insurance Ombudsman,

S. C.O. No. 101, 102 & 103, 2nd

Floor,

Batra Building, Sector 17 – D,

CHANDIGARH-160 017

Tel.: 0172- 2706196/2706468

Email:

bimalok[email protected]

Punjab, Haryana

(excluding Gurugram,

Faridabad, Sonepat

and Bahadurgarh),

Himachal Pradesh,

Union Territories of

Jammu & Kashmir,

Ladakh & Chandigarh

CHENNAI

Office of the Insurance Ombudsman,

Fatima Akhtar Court, 4th Floor, 453,

Anna Salai, Teynampet,

CHENNAI-600 018.

Tel.: 044 - 24333668 / 24335284

Email: bimalokpa[email protected]

Tamil Nadu,

Puducherry Town and

Karaikal (which are

part of Puducherry)

UIN: 130L100V03

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

Office of the

Ombudsman

Address Contact Details Areas of Jurisdiction

DELHI

Office of the Insurance Ombudsman,

2/2 A, Universal Insurance Bldg.,Asaf

Ali Road,

NEW DELHI-110 002.

Tel.: 011 - 23232481/23213504

Email: bimalokpa[email protected]

Delhi & following

Districts of Haryana -

Gurugram, Faridabad,

Sonepat &

Bahadurgarh

GUWAHATI

Office of the Insurance Ombudsman,

“Jeevan Nivesh”, 5th Floor, Nr.

Paanbazar over bridge, S.S. Road

GUWAHATI- 781 001 (ASSAM)

Tel.: 0361 – 2632204 / 2602205

Email: bimalokpa[email protected]

Assam,

Meghalaya, Manipur,

Mizoram,

Arunachal Pradesh,

Nagaland and Tripura.

HYDERABAD. Office of the Insurance Ombudsman,

6-2-46, 1st floor, "Moin Court",

Lane Opp. Saleem Function Palace,

A. C. Guards, Lakdi-Ka-Pool,

HYDERABAD-500 004.

Tel.: 040- 23312122

Email:

[email protected]

Andhra Pradesh,

Telangana, Yanam

and part of Union

Territory of

Puducherry

JAIPUR

Office of the Insurance Ombudsman,

Jeevan Nidhi- II Bldg., Ground Floor,

Bhawani Singh Marg,

JAIPUR – 302 005.

Tel.: 0141 - 2740363

Email: bimalokpa[email protected]

Rajasthan

ERNAKULAM 10th floor, LIC building

‘Jeevan Prakash’

M G road, Ernakulam

Kochi – 682011

Tel.: 0484 – 2358759/ 2359338

Email:

bimalok[email protected]

Kerala, Lakshadweep,

Mahe-a part of UT of

Puducherry

KOLKATA Office of the Insurance Ombudsman,

Hindustan Building, Annexe, 4th

Floor, 4, CR Avenue

KOLKATA- 700 072

Tel.: 033 - 22124339 / 22124340

Email: bimalokpa[email protected]

West Bengal, Sikkim,

Andaman & Nicobar

Islands

LUCKNOW

Office of the Insurance Ombudsman,

6th Floor, Jeevan Bhawan, Phase-II,

Nawal Kishore Road, Hazratganj,

LUCKNOW-226 001.

Tel.: 0522 - 2231330 / 2231331

Email: bimalokpa[email protected]

Districts of Uttar

Pradesh:

Lalitpur, Jhansi,

Mahoba, Hamirpur,

Banda, Chitrakoot,

Allahabad, Mirzapur,

Sonbhabdra,

Fatehpur, Pratapgarh,

Jaunpur, Varanasi,

Gazipur, Jalaun,

Kanpur, Lucknow,

Unnao, Sitapur,

Lakhimpur, Bahraich,

Barabanki,

Raebareli,Sravasti,

Gonda, Faizabad,

Amethi Kaushambi,

Balrampur, Basti,

Ambedkarnagar,

Sultanpur,

Maharajgang,

Santkabirnagar,

Azamgarh,

Kushinagar, Gorkhpur

Deoria

, Mau, Ghazipur

Chandauli, Ballia

Sidharathnagar.

UIN: 130L100V03

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

Office of the

Ombudsman

Address Contact Details

Areas of

Jurisdiction

MUMBAI

Office of the Insurance Ombudsman,

3rd Floor, Jeevan Seva Annexe,S.V.

Road, Santacruz(W),

MUMBAI-400 054.

Tel.:

69038821/23/24/25/26/27/28/28/29/30/31

Email: bimalokpa[email protected]

Goa, Mumbai

Metropolitan Region

(excluding Navi

Mumbai & Thane).

NOIDA

Office of the Insurance Ombudsman,

Bhagwan Sahai Palace, 4th Floor,

Main Road, Naya Bans, Sector-15,

Distt. Gautam Buddh Nagar

U.P- 201301

Tel.: 0120- 2514252 / 2514253

Email: bimalokpa[email protected]

State of Uttarakhand l

and the following

Districts of Uttar

Pradesh:

Agra, Aligarh, Bagpat,

Bareilly, Bijnor,

Budaun,

Bulandshehar, Etah,

Kannauj, Mainpuri,

Mathura, Meerut,

Moradabad,

Muzaffarnagar,

Oraiyya, Pilibhit,

Etawah, Farrukhabad,

Firozbad, Gautam

Buddhnagar,

Ghaziabad, Hardoi,

Shahjahanpur, Hapur,

Shamli, Rampur,

Kashganj, Sambhal,

Amroha, Hathras,

Kanshiramnagar,

Saharanpur.

PUNE

Office of the Insurance Ombudsman,

Jeevan Darshan Bldg., 3rd Floor, C.

T.S No’s 195 to198, N.C. Kelkar

Road, Narayan Peth,

PUNE – 411030.

Tel.: 020 - 41312555

Email: bimalokpa[email protected]

Maharashtra,

Area of Navi Mumbai

and Thane (excluding

Mumbai Metropolitan

Region).

PATNA Office of the Insurance Ombudsman,

2nd Floor, Lalit Bhawan,

Bailey Road,

Patna - 800 001

Tel.: 0612- 2547068

Email id: bimalokp[email protected]

Bihar, Jharkhand.

UIN: 130L100V03

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

Annexure II: Section 38 - Assignment and Transfer of

Insurance Policies

Assignment or transfer of a policy should be in accordance with

Section 38 of the Insurance Act, 1938 as amended from time to

time. The extant provisions in this regard are as follows:

1. This policy may be transferred/assigned, wholly or in part,

with or without consideration.

2. An Assignment may be effected in a policy by an

endorsement upon the policy itself or by a separate

instrument under notice to the Insurer.

3. The instrument of assignment should indicate the fact of

transfer or assignment and the reasons for the assignment

or transfer, antecedents of the assignee and terms on which

assignment is made.

4. The assignment must be signed by the transferor or assignor

or duly authorized agent and attested by at least one

witness.

5. The transfer of assignment shall not be operative as against

an insurer until a notice in writing of the transfer or

assignment and either the said endorsement or instrument

itself or copy there of certified to be correct by both

transferor and transferee or their duly authorised agents

have been delivered to the insurer.

6. Fee to be paid for assignment or transfer can be specified by

the Authority through Regulations.

7. On receipt of notice with fee, the insurer should Grant a

written acknowledgement of receipt of notice. Such notice

shall be conclusive evidence against the insurer of duly

receiving the notice.

8. If the insurer maintains one or more places of business, such

notices shall be delivered only at the place where the policy

is being serviced.

9. The insurer may accept or decline to act upon any transfer

or assignment or endorsement, if it has sufficient reasons to

believe that it is

a) not bonafide or

b) not in the interest of the policyholder or

c) not in public interest or

d) is for the purpose of trading of the insurance policy.

10.Before refusing to act upon endorsement, the Insurer should

record the reasons in writing and communicate the same in

writing to Policyholder within 30 days from the date of

policyholder giving a notice of transfer or assignment.

11.In case of refusal to act upon the endorsement by the

Insurer, any person aggrieved by the refusal may prefer a

claim to IRDAI within 30 days of receipt of the refusal letter

from the Insurer.

12.The priority of claims of persons interested in an insurance

policy would depend on the date on which the notices of

assignment or transfer is delivered to the insurer; where

there are more than one instruments of transfer or

assignment, the priority will depend on dates of delivery of

such notices. Any dispute in this regard as to priority should

be referred to Authority.

13.Every assignment or transfer shall be deemed to be absolute

assignment or transfer and the assignee or transferee shall

be deemed to be absolute assignee or transferee, except

a) where assignment or transfer is subject to terms and

conditions of transfer or assignment OR

where the transfer or assignment is made upon condition

that

i. the proceeds under the policy shall become payable to

policyholder or nominee(s) in the event of assignee or

transferee dying before the insured OR

ii. the insured surviving the term of the policy

Such conditional assignee will not be entitled to obtain a loan

on policy or surrender the policy. This provision will prevail

notwithstanding any law or custom having force of law which

is contrary to the above position.

14.In other cases, the insurer shall, subject to terms and

conditions of assignment, recognize the transferee or

assignee named in the notice as the absolute transferee or

assignee and such person

a) shall be subject to all liabilities and equities to which the

transferor or assignor was subject to at the date of

transfer or assignment and

b) may institute any proceedings in relation to the policy

c) obtain loan under the policy or surrender the policy

without obtaining the consent of the transferor or

assignor or making him a party to the proceedings

15.Any rights and remedies of an assignee or transferee of a

life insurance policy under an assignment or transfer

effected before commencement of the Insurance Laws

(Amendment) Ordinance, 2014 shall not be affected by this

section.

Disclaimer: This is not a comprehensive list of

amendments of Insurance Laws (Amendment) Act, 2015

and only a simplified version prepared for general

information. Policy Holders are advised to refer to

Original Ordinance Gazette Notification dated March 23 ,

2015 for comple te and accurate details.]

Annexure III: Section 39 - Nomination by policyholder

Nomination of a life insurance Policy is as below in accordance

with Section 39 of the Insurance Act, 1938 as amended from

time to time. The extant provisions in this regard are as follows:

1. The policyholder of a life insurance on his own life may

nominate a person or persons to whom money secured by

the policy shall be paid in the event of his death.

2. Where the nominee is a minor, the policyholder may appoint

any person to receive the money secured by the policy in the

event of policyholder’s death during the minority of the

nominee. The manner of appointment to be laid down by the

insurer.

3. Nomination can be made at any time before the maturity of

the policy.

4. Nomination may be incorporated in the text of the policy

itself or may be endorsed on the policy communicated to the

insurer and can be registered by the insurer in the records

relating to the policy.

5. Nomination can be cancelled or changed at any time before

policy matures, by an endorsement or a further endorsement

or a will as the case may be.

UIN: 130L100V03

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

6. A notice in writing of Change or Cancellation of nomination

must be delivered to the insurer for the insurer to be liable to

such nominee. Otherwise, insurer will not be liable if a

bonafide payment is made to the person named in the text of

the policy or in the registered records of the insurer.

7. Fee to be paid to the insurer for registering change or

cancellation of a nomination can be specified by the

Authority through Regulations.

8. On receipt of notice with fee, the insurer should grant a

written acknowledgement to the policyholder of having

registered a nomination or cancellation or change thereof.

9. A transfer or assignment made in accordance with Section

38 shall automatically cancel the nomination except in case

of assignment to the insurer or other transferee or assignee

for purpose of loan or against security or its reassignment

after repayment. In such case, the nomination will not get

cancelled to the extent of insurer’s or transferee’s or

assignee’s interest in the policy. The nomination will get

revived on repayment of the loan.

10. The right of any creditor to be paid out of the proceeds of

any policy of life insurance shall not be affected by the

nomination.

11. In case of nomination by policyholder whose life is insured, if

the nominees die before the policyholder, the proceeds are

payable to policyholder or his heirs or legal representatives

or holder of succession certificate.

12. In case nominee(s) survive the person whose life is insured,

the amount secured by the policy shall be paid to such

survivor(s).

13. Where the policyholder whose life is insured nominates his

a) parents or

b) spouse or

c) children or

d) spouse and children

e) or any of them

the nominees are beneficially entitled to the amount payable by

the insurer to the policyholder unless it is proved that

policyholder could not have conferred such beneficial title on the

nominee having regard to the nature of his title.

14. If nominee(s) die after the policyholder but before his share

of the amount secured under the policy is paid, the share of

the expired nominee(s) shall be payable to the heirs or legal

representative of the nominee or holder of succession

certificate of such nominee(s).

15. The provisions of sub-section 7 and 8 (13 and 14 above)

shall apply to all life insurance policies maturing for payment

after the commencement of Insurance Laws (Amendment)

Ordinance, 2014 (i.e 26.12.2014).

16. If policyholder dies after maturity but the proceeds and

benefit of the policy has not been paid to him because of his

death, his nominee(s) shall be entitled to the proceeds and

benefit of the policy.

17. The provisions of Section 39 are not applicable to any life

insurance policy to which Section 6 of Married Women’s

Property Act, 1874 applies or has at any time applied except

where before or after Insurance Laws (Ordinance) 2014, a

nomination is made in favour of spouse or children or spouse

and children whether or not on the face of the policy it is

mentioned that it is made under Section 39. Where

nomination is intended to be made to spouse or children or

spouse and children under Section 6 of MWP Act, it should

be specifically mentioned on the policy. In such a case only,

the provisions of Section 39 will not apply.

[Disclaimer: This is not a comprehensive list of amendments

of Insurance Laws (Amendment) Ordinance,2014 and only a

simplified version prepared for general information. Policy

Holders are advised to refer to Original Ordinance Gazette

Notification dated December 26 , 2014 for c omplete and

accurate details.]

Annexure IV: Section 45 – Policy shall not be called in

question on the ground of mis-statement after three years

Provisions regarding policy not being called into question in

terms of Section 45 of the Insurance Act, 1938, as amended from

time to time are as follows:

1. No Policy of Life Insurance shall be called in question on any

ground whatsoever after expiry of 3 yrs from

a) the date of issuance of policy or

b) the date of commencement of risk or

c) the date of revival of policy or

d) the date of rider to the policy

whichever is later.

2. On the ground of fraud, a policy of Life Insurance may be

called in question within 3 years from

a) the date of issuance of policy or

b) the date of commencement of risk or

c) the date of revival of policy or

d) the date of rider to the policy

whichever is later.

For this, the insurer should communicate in writing to the

insured or legal representative or nominee or assignees of

insured, as applicable, mentioning the ground and materials

on which such decision is based.

3. Fraud means any of the following acts committed by insured

or by his agent, with the intent to deceive the insurer or to

induce the insurer to issue a life insurance policy:

a) The suggestion, as a fact of that which is not true and

which the insured does not believe to be true;

b) The active concealment of a fact by the insured having

knowledge or belief of the fact;

c) Any other act fitted to deceive; and

d) Any such act or omission as the law specifically declares

to be fraudulent.

UIN: 130L100V03

Policy Document-

Bharti AXA Life Wealth Pro

A Unit Linked, Non-Participating Individual Life Insurance Plan

4. Mere silence is not fraud unless, depending on

circumstances of the case, it is the duty of the insured or his

agent keeping silence to speak or silence is in itself

equivalent to speak.

5. No Insurer shall repudiate a life insurance Policy on the

ground of Fraud, if the Insured / beneficiary can prove that

the misstatement was true to the best of his knowledge and

there was no deliberate intention to suppress the fact or that

such mis-statement of or suppression of material fact are

within the knowledge of the insurer. Onus of disproving is

upon the policyholder, if alive, or beneficiaries.

6. Life insurance Policy can be called in question within 3 years

on the ground that any statement of or suppression of a fact

material to expectancy of life of the insured was incorrectly

made in the proposal or other document basis which policy

was issued or revived or rider issued. For this, the insurer

should communicate in writing to the insured or legal

representative or nominee or assignees of insured, as

applicable, mentioning the ground and materials on which

decision to repudiate the policy of life insurance is based.

7. In case repudiation is on ground of mis-statement and not on

fraud, the premium collected on policy till the date of

repudiation shall be paid to the insured or legal

representative or nominee or assignees of insured, within a

period of 90 days from the date of repudiation.

8. Fact shall not be considered material unless it has a direct

bearing on the risk undertaken by the insurer. The onus is on

insurer to show that if the insurer had been aware of the said

fact, no life insurance policy would have been issued to the

insured.

9. The insurer can call for proof of age at any time if he is

entitled to do so and no policy shall be deemed to be called

in question merely because the terms of the policy are

adjusted on subsequent proof of age of life insured. So, this

Section will not be applicable for questioning age or

adjustment based on proof of age submitted subsequently.

[Disclaimer: This is not a comprehensive list of

amendments of Insurance Laws (Amendment) Act, 2015

and only a simplified version prepared for general

information. Policy Holders are advised to refer to Original

Ordinance Gazette Notification dated March 23 , 2015 for

complete and accurate details. ]

BEWARE OF SPURIOUS/FRAUD PHONE CALLS!

IRDAI is not involved in activities like selling insurance

policies, announcing bonus or investment of premiums.

Public receiving such phone calls are requested to lodge a

police complaint