Exide Life Term Insurance Plans
Exide Life Insurance, owned by Exide Industries Limited, commenced operations 2001-02, focusing on providing long-term protection and savings solutions for consumers to achieve their life goals. With headquarters in Bengaluru, the company earned a total premium income of over Rs 3,325 crores and manages assets of INR 18,381 Crores (as of 31 March 2021)
Term plans offered by Exide Life Insurance
1. Exide Life Elite Term Insurance Plan: This a classic term insurance policy that provides life cover for a substantial amount at an affordable premium. If you have many dependents relying on your income, opting for a higher sum assured makes sense so that all the needs of your family members are taken care of appropriately. You may also enhance the cover by availing the riders of accidental death disability and critical illnesses. The plan also offers you to choose between three benefit payout options –
2) Lumpsum with family income payout, wherein 50% of the sum assured is paid as a lump sum and remaining is paid every month for 60 months and
3) Family income payout, which pays the sum assured every month for ten years.
2. Exide Life Smart Term Pro: This plan provides the benefit of life insurance cover to protect your family financially and receive the premiums on completing the policy term. It also allows you to enjoy life coverage for the entire policy period while paying premiums for 5, 8, 10, or 12 years only. Also, opt from the three benefit payout options and riders as mentioned in the previous plans.
3. Exide Life Smart Term Edge: A unique term insurance plan offering three different options to match your desired level of protection:
1) Classic – life protection with the return of premium on survival,
2) Step-up – life protection with a higher return of premium based on the chosen policy term and
3) Comprehensive – enhanced life protection with the return of premiums.
Added to these, extend your coverage through riders and claim income tax benefits.
4. Exide Life Term with Return of Premium Plan: This term plan works like a traditional term life plan; however, it offers a maturity benefit wherein you get back the total premiums paid on completion of the policy term. Rebates on premium for female policyholders, flexibility to choose premium payment terms, and tax benefits are few other benefits of this plan.
Why choose Exide Life Term Insurance Plans?
- Exide Life Term Insurance offers the benefit of low premiums on a high sum assured amount.
- You can further enhance the scope of the policy by adding various riders like Accidental Death, Disability and Dismemberment Rider, and Critical Illness Rider.
- If the policyholder pays premiums for two full years, then they will get a surrender benefit.
- Exide Life Term Insurance policies are eligible for tax benefits under sections 80C and 10(10D) of the Income Tax Act.
- The Claims Settlement Ratio (CSR) of Exide Life Insurance is 98.15% (IRDAI Annual Data 19-20), making it a desirable insurer partner.
Get to know more detailed information on the term insurance plans of Exide Life Insurance from the website, iiflinsurance.com.