Bharti AXA Life pushes locked annuity rates amidst retirement anxiety

Customers can fix current pricing now for income that runs for life.

Private life insurer, Bharti AXA Life Insurance, launched a non-linked, non-participating individual deferred annuity plan designed to provide assured and predictable lifelong income, helping individuals retire with confidence, independence and financial dignity.

The plan, or “Bharti AXA Life Swabhimaan Retirement Plan,” enables customers to plan early and lock in annuity rates at current levels, promising guaranteed income for life. 

The plan offers lifetime annuity payouts, with an option to continue the same assured income for the lifetime of the surviving spouse, ensuring income security for as long as either the policyholder or the spouse is alive. 

The Atmanirbhar option allows customers to withdraw in case of emergency. An important feature of the plan is increased payout after every five years to help customers beat inflation and structure retirement income in line with their financial goals, cash flow requirements, and life milestones. 

Tax benefits for retirement planning fall under Sections 80C, 80CCC which have an aggregate limit of ~$1,650 (₹1.5 lakh).