This is a non-linked and non-participating plan, which ensures that the family of the deceased policyholder receives income through annual instalments for a select period, said a release.
The plan also returns up to 120 per cent of premiums paid at the end of the policy term as a lump sum survival benefit, depending on the option chosen by the policyholder at inception, it added.
"The plan ensures the family continues to receive an income so that they can fulfil their needs in case of any unfortunate incident," said Bharti AXA Life Chief and Appointed Actuary Mudit Kumar.
CUMI inaugurates composite electro-minerals unit at Cochin
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Carborundum Universal (CUMI), part of the Murugappa Group, today said its three new fusion plants at Cochin in Kerala, built with an investment of Rs 80 crore, has become operational.
The direct job creation from this project will be primarily in the technology and application side, it is also expected to create over 300 indirect jobs in the front and back-end of the supply chain, the company said in a release.
"The new facilities-estimated at Rs 80 crore investment, funded through internal accruals, will add about 25,000 tonne of fused minerals generation, with potential sales of about USD 30 million," said Murugappa Group Executive Chairman A Vellayan.