Exide Life Insurance New Fulfilling Life Plan

 Fulfilling the needs of our loved ones is the foremost priority for most of us, pushing us to work hard and provide for them. The New Fulfilling Life Plan offered by aims to secure the financial future of an individual, ensuring that helping them cater to the dreams of their family members.


Eligibility Criteria for Exide Life New Fulfilling Life

Minimum entry age 15 years
Maximum entry age The maximum entry age depends on the premium payment term, with it being:
  • 50 years for terms ranging between 12 and 20 years
  • 46 years if the term is 24 years
Minimum premium
  • Rs 2,000 per month for 12 year term
  • Rs 1,000 per month for other terms
Age at maturity 85 years

Key Features of Exide Life New Fulfilling Life

Plan type Non-linked participating life insurance scheme
Plan basis Individual
Premium paying terms
  • 12 years
  • 16 years
  • 20 years
  • 24 years
Policy term 85 years minus entry age For example, if the entry age is 40 years, then the policy term is (85-40), = 45 years
Maturity benefits A maturity benefit equivalent to the combination of sum assured, vested bonus (if applicable) and terminal bonus (if applicable) will be paid
Premium payment frequency Monthly or yearly
Loan Policyholders can avail a loan under the plan
Grace period
  • 30 days for annual payment frequency
  • 15 days for monthly premium frequency
Free look period
  • 30 days if policy is purchased through distance marketing
  • 15 days if it is purchased in person
Revival Lapsed policies can be revived within 2 years of first unpaid premium. Individuals should clear all dues and pay penalties as applicable for this
Alterations No alterations permitted
Nominations Nomination facility provided as per provisions of the Insurance Act
Sum assured The minimum sum assured for different premium payment terms is given below
  • Rs 1,15,942 for 12 PPT
  • Rs 75,642 for 16 PPT
  • Rs 96,339 for 20 PPT
  • Rs 1,48,331 for 24 PPT
Policy coverage Survival benefit, maturity benefit and death benefit

Benefits of Exide Life New Fulfilling Life

Some of the key benefits of investing in Exide Life New Fulfilling Life Plan are mentioned below.

  • Maturity benefit – A policyholder is entitled to a maturity benefit equivalent to the total of sum assured, vested and terminal bonus (as applicable) on maturity.
  • Survival benefit – Policyholders are entitled to a survival benefit at regular frequencies, depending on the premium payment term opted by them.
  • Death benefit – In the event of unfortunate demise of a policyholder while the policy is in force, his/her nominee will receive the death benefit equivalent to the total of the assured death benefit, vested and terminal bonuses (as applicable).
  • Tax benefits – Policyholders are entitled to tax benefits on the premiums paid and the amount received on maturity/survival under Sections 80C and 10(10D) of the Income Tax Act respectively.
  • Discounts – Members who opt for higher premiums are provided special discounts.
  • Loans – Policyholders are eligible to apply for a loan under certain circumstances.
  • Flexible – Members can choose a premium payment term which suits their needs, with an option to pay either yearly or monthly premiums.
  • Assured death benefit – An assured death benefit equivalent to either the higher of 10 times the annualised premium or the sum assured is provided.

Working of Exide Life New Fulfilling Life

The is a simple to understand plan with quick implementation. Let us take the example of Mr. Joshi to understand how it works. Mr. Joshi is a 35 year old banker who aims to secure the future of his family by investing in this plan. He opts for a 12 year policy term, choosing to pay an annual premium of Rs 1 lakh. His total investment in this scheme at the end of 12 years stands at Rs 12 lakhs.

Under the scheme, he is entitled to a portion of the sum assured (Survival benefit) at the end of every 3 years, thereby earning around Rs 1.5 lakh every three years, for the period of 12 years. In the event of his unfortunate demise before he reaches the age of 85 years, his nominee will receive the death benefit.

In the case of Mr. Joshi living a long, fruitful life, he will receive the maturity benefit when he reaches 85 years of age. This benefit will be equal to the sum assured plus any bonuses accumulated during this period.

Premium Payment for Exide Life New Fulfilling Life

Individuals who are enrolled in this scheme can pay their premiums either every month or annually, for the term chosen by them.

Frequency Minimum amount per instalment Maximum amount per instalment
Monthly
  • Rs 1,000 for PPT of 16 years, 20 years and 24 years
  • RS 2,000 for PPT of 12 years
No upper limit
Annually
  • Rs 12,000 for PPT of 16 years, 20 years and 24 years
  • Rs 24,000 for PPT of 12 years
No upper limit

Riders

There is no provision for additional riders under this plan.

This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

 4.0 / 5.0   by 137 users
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Plan Benefits

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Customer Service

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

Exide Life Insurance New Fulfilling Life Plan Reviews

Page 1 of 7 1 2 3 4 5
  • Exide Life Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I have taken a term insurance in EXIDE LIFE INSURANCE 3 years before. The policy is for 50 years. I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details. I use to do payments through an online.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 28, 2019
  • Exide
    Exide Life Insurance
    "Short period payment policy"
    0.5 4.0/5 "Great!"
    I have purchased a life insurance policy from Exide. I need to pay the premium for first 3 years. After 10 years, i will be getting the returns. I will be getting the maturity of 10 times greater. When i was working as a advisor, i have chosen the policy. I used to pay the premium in their branch. I am paying the premium amount of Rs. 50000 yearly.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 16, 2019
  • Exide Life Insurance
    "Better"
    0.5 3.0/5 "Satisfactory"
    I took a term plan in Exide Life Insurance because my friend is working in company and other than that have no idea about this company. I have paid the premium for 2 years and tenure period is 20 years. Am paying yearly around 10K through online. The benefits are better.
    Was this review helpful? 0
    , nellore
    Reviewed on Mar 01, 2019
  • Exide Life Insurance
    "Good service"
    0.5 3.0/5 "Satisfactory"
    I had taken this insurance policy a pretty long time back and i had been paying the premium every six months. The premium amount has not been high and the payment method is quite simple. The insurance policy covers my entire family and there has not been any hassle faced with their services so far.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Feb 17, 2019
  • Exide Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have applied for life insurance with Exide life insurance for long time.Their service is good,the agent had clearly explain me about the policy and benefit coverage,and the premium amount i use to pay on off line mode, and the premium amount i use to pay on yearly basis.Till now no hidden charges.
    Was this review helpful? 1
    , ongole
    Reviewed on Feb 17, 2019
  • Exide Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    EXIDE LIFE INSURANCE is the life insurance policy where i am holding it since from last 15 years added on that the maturity period of this policy is for 30 years. The policy coverage is for self also the premium i pay for yearly once with this policy.
    Was this review helpful? 0
    , faridabad
    Reviewed on Feb 11, 2019
  • Exide Life Insurance
    "Good Investment"
    0.5 4.0/5 "Great!"
    The support for the EXIDE insurance is very good, I have taken this policy by myself because they have good claim settle ratio hence I availed the policy. I used to pay the premium of Rs.25,000 per annum, its for 16 years. Then I get Rs. 5.5 lakhs. It has tax benefits and life coverage.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Feb 11, 2019
  • Exide Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    EXIDE LIFE INSURANCE is the insurance provider where i have taken the life insurance with this and it is the TERM PLAN where the maturity period of this policy is for 16 years where i pay the premium for this policy is for 3 months once with this policy.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Feb 03, 2019
  • Exide Life Insurance
    "Excellent Policy"
    0.5 5.0/5 "Blown Away!"
    I had taken this Insurance Policy a long time back and i had been paying the premium on an annual basis. The premium amount is around 99,000 and i had been paying the payments online which is pretty comfortable. There has not been any issues faced with their services of them so far.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 28, 2019
  • Exide Life Insurance
    "GOOD SERVICE"
    0.5 4.0/5 "Great!"
    The name of the policy is NEW FILLING LIFE where i get the cash backs with this policy for 4-5 years once. I have taken this policy and using it from past 5 years where the process is good to get the policy. The customer service is very good along with that the offline service is good with this policy.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Nov 26, 2018
  • Exide Life Insurance
    "GOOD SERVICE"
    0.5 4.0/5 "Great!"
    The customer service is very good with the EXIDE LIFE INSURANCE where i have purchased the life insurance policy. I have been using it from past two years and it is a short term policy where the maturity period is for short term policy of five years.
    Was this review helpful? 2
    , anantapur
    Reviewed on Nov 11, 2018
  • Exide Life Insurance
    "Best Policy"
    0.5 5.0/5 "Blown Away!"
    I have take life insurance from Ing vysya insurance which has of good returns , This coverage also covers accidental and critical illness coverage . I make the payment yearly through online This policy coverage is for 20 years .explained well about the policy.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Oct 19, 2018
  • Exide Life Insurance
    "EXIDE LIFE INSURANCE INJURIOUS TO YOUR FAMILY......."
    0.5 0.5/5 "Unacceptable"
    PLEASE DO NOT INVEST IN EXIDE LIFE INSURANCE FAKE COMMITMENTS & WRONG PROMISES WORST INSURANCE COMPANY... NEVER EVER TRUST ITS MY EXPERIENCE EXIDE LIFE INSURANCE INJURIOUS TO YOUR FAMILY..... ITS MY PERSONNEL EXPERIENCE.... DONT WASTE YOUR MONEY & TIME EXIDE AGENTS & SALES TEAM ARE BIG LIERS, FRAUDS.....
    Was this review helpful? 11
    , hyderabad
    Reviewed on Aug 10, 2018
  • Exide Life Insurance
    "Fraudulent (Exide Life Insurance)"
    0.5 0.5/5 "Unacceptable"
    Exide outsourced the marketing part to bajaj capital to get the genuine customers and involve them in fraud insurance policies of Exide Life Insurance. The representative told that I can get my 100% amount in case of need after completing two yearly transactions, while applying for closure the manager from exide said I ll get only 30% of whatever Iâ??ve paid. Dont know how this company is still in the market!!!!!! I would suggest not to take policies from exide. When I asked for contact number of bhopal Office, the telephonic representative said, we dont have the contact number of bhopal office. LIC and mutual funds are way better!!
    Was this review helpful? 3
    , bhopal
    Reviewed on Aug 09, 2018
  • Exide Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    I have take life insurance from Exide life insurance which has 9-10% of good returns , This policy also covers accidental and critical illness coverage . I make the payment yearly through on-line This policy coverage is for life time had to renew yearly . I used to get income tax benefits. Their customer service explained well about the policy.
    Was this review helpful? 1
    , gurgaon
    Reviewed on Jul 23, 2018
  • Exide Life Insurance
    "ONE OF THE WORST INSURANCE"
    0.5 0.5/5 "Unacceptable"
    I've been using the Life insurance policy from the Exide Life for a while. The response is not good. I pay a premium of 30000 per year via ECS. The premium gets auto debited from the account as it total i paid them 146000 now i want there office to surrender insurance policy and they pay me back 51500/ only this is worst insurance in India.
    Was this review helpful? 15
    , mumbai
    Reviewed on Jul 13, 2018
  • Exide Life Insurance
    "Average Service"
    0.5 3.0/5 "Satisfactory"
    I've been using the Life insurance policy from the Exide Life for a while. The response is not good. I pay a premium of 2000 per year via ECS. The premium gets auto debited from the account as it is more convenient for me. So far it has been a useful insurance policy to have.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 20, 2018
  • Exide Life Insurance
    "Good Retirement policy"
    0.5 5.0/5 "Blown Away!"
    Their is much future benefits is available in this policy. Since it is a after retirement policy, i can get the benefits after my retirement. They have suggested me the best policy. I used to make the payment through cheque. I have tried to make the payment through ECS and their is no proper response for that. The branch response is good. I'm making the payment yearly in the amount of Rs. 12K. Maturity will be there.
    Was this review helpful? 3
    , salem
    Reviewed on Jun 18, 2018
  • Exide Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I hold a life insurance policy with EXIDE life from last 1 year and it is a long term policy. I am happy with the coverage and returns of this insurance policy. I pay my premium once in a year through net banking and i am convenient with the payment options. The maturity period for this insurance policy is 10 years.
    Was this review helpful? 0
    , bangalore
    Reviewed on May 20, 2018
  • Exide Life Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I have a EXIDE life insurance from last 10 years, the only benefit i found in this insurance policy is, they give good bonus when compared to other insurance companies. I pay my premium once in a year through net banking. I am satisfied with the returns of this insurance policy.
    Was this review helpful? 1
    , kolkata
    Reviewed on Apr 25, 2018
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