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
  • Rs 1,000 for PPT of 16 years, 20 years and 24 years
  • RS 2,000 for PPT of 12 years
No upper limit
  • Rs 12,000 for PPT of 16 years, 20 years and 24 years
  • Rs 24,000 for PPT of 12 years
No upper limit


There is no provision for additional riders under this plan.

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

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