FEATURES: Bharti Axa Life Young India Plan is a regular premium and traditional participating plan. This plan is specially designed for the young and offers life cover risk till the insured reaches retirement age of 60.

The policy matures at 60 years of age.

ENTRY AGE: You need to be at least 18 years old to buy this policy and not more than 40 years. The minimum annual premium is Rs 8,000.

COVERAGE: You have an option to increase the sum assured or life cover at two important milestones, to be decided by you, such as marriage or childbirth. However, you will have to shell out additional premium for the additional coverage. Additional sum assured cover will terminate when policyholder attains 50 years of age.

For example, for a 25-year-old male, for a base sum assured of Rs 2,00,000 premium will be Rs 11,678. In case he opts to increase life cover at the first milestone after his wedding at the age of 31 by Rs 8,00,000, he will be charged an additional annual premium of Rs 1,688. If he chooses to raise his life cover by Rs 40,00,000 at the second milestone of childbirth, the additional annual premium will be Rs 9,440.

MONEYBACK: Money can be claimed after completion of three policy terms. The amount will depend at the time the claim is made. The minimum amount will be 10 per cent and the maximum is 29.5 per cent of the base sum assured.

SURRENDER BENEFITS: Surrender benefits are available only after completion of three years. The insurer is obligated to pay only 30 per cent of the premium paid (excluding first-year premium). It could also pay a special surrender value. Bonus accumulated will be paid.

DISCOUNT: You get a marginal discount of 5 per cent on premium if you choose a base sum assured of Rs 5,00,000 lakh or more.

MATURITY BENEFIT: The policy matures when you turn 60 years. At maturity, you will receive 200 per cent of the base sum assured plus accrued bonuses, if any.

LOAN: A loan can be availed against this policy, provided the first three years' premiums have been paid in full and the policy has acquired surrender value.

Anyone who has financial responsibility must buy a term plan with significant life cover so that in case of an unfortunate event in the future, the interest of the family can be safeguarded. There are no maturity benefits in a term plan. This plan has limitations because the additional life cover terminates at 50 years, which is hardly a time when all responsibilities are met.

Considering the premium paid, the returns on the premium paid may not be very satisfying.