Exide Life Elite Term Insurance Plan
Exide Life Elite Term Insurance Plan is a pure protection plan carefully designed to build a solid financial foundation for your family when you are not around. Moreover, the plan is backed with various attractive features such as income protection solutions, making it an ideal option who wants a secured financial future for their loved ones.
Exide Life Elite Term Insurance Plan Features
- Exide Life Elite Term Insurance Plan is a unique term plan offering a substantial sum assured at an affordable premium amount.
- It offers lower premium rates by opting for higher sum assured.
- The policy guarantees an extended coverage period by providing an option to increase the policy tenure by either 5 or 10 years.
- The minimum entry age is 21 years, and the maximum is 60 years as on last birthday.
- The maximum maturity age is 70 years as on last birthday and 80 years if an extended term is opted for.
- The maximum policy term is 40 years subject to maximum maturity age, and for an extended term, it could be 5 or 10 years more.
- The minimum sum assured is Rs 50 lakhs, and there is no limit for maximum sum assured subject to underwriting guidelines.
- The plan offers lower premium rates for female policy seekers.
- The policy offers flexibility to choose from 3 different payout options as per your requirement.
- It also gives the option to enhance the protection level by opting for riders -Accidental Death, Disability and Dismemberment rider, and Critical illness rider.
- Tax benefits are applicable as per the prevailing norms of the Income Tax Act 1961.
What will my family receive if I am not around anymore?
In case of the unfortunate demise of the insured, the policy nominee will receive the Death Benefit as higher of:
- Basic Sum Assured refers to the absolute amount chosen by the insured at the date of policy inception and as specified in the policy schedule.
- Minimum Death Benefit is the higher of:
– ‘X’ times the annualized premium
– 105% of the total premiums received up to date of death
There are 3 different payout options to choose from
|Upon the demise of the policyholder, the entire death benefit amount is paid as a lump sum to the policy nominee.|
Lumpsum with Family Income Payout
|In this option, the nominee of the policy receives 50% of the death benefit as a lump sum and 0.95% of the death benefit every month in arrear over the next 60 months from the date of death.|
Family Income Payout
|Under this option, the policy nominee receives 1.07% of the Death Benefit every month in arrear for the next 120 months from the date of death.|
Why should you choose the Exide Life Elite Term Insurance Plan?
- To make sure that your family’s future is always secured.
- To get the benefit of high sum assured at reasonable premium amount.
- To avail of the extended policy term benefits, make sure that your loves are protected for a more extended period.