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  • Exide Life Insurance Investment Plans

    Exide Life Insurance

    Just having a good income does not ensure wealth creation. The best way to augment your wealth would be to take that good income and invest it in a place where it has a chance to grow and offer considerable returns. The investment plans offered by Exide Life Insurance allow you to invest that surplus income into policies that offer some of the most attractive benefits you’ll see. The maturity benefits from these plan can ensure that you have enough money to be able to plan for future expenses like buying the dream house or even putting a down payment on it.

    Exide Life Assured Gain Plus

    This is a plan that offers you the opportunity to invest only for 5 years yet enjoy the benefits, which are tax free, for as long as the policy is in effect.

    Eligibility

    To be able to take this plan you must be between the ages of 3 years and 65 years. The minimum and maximum ages at maturity need be between 18 years and 80 years.

    Features
    • The policy comes with a limited premium paying term of 5 years.
    • The premium can be paid monthly, half-yearly or annually or as a single premium.
    • The minimum premium to be paid in case of a single payment is Rs. 2.4 lakhs and in case of annual payments its Rs. 60,000.
    • The term of the policy can range from 10 to 15 years.
    • There is no limit on how much premium can be paid.
    • The minimum sum assured is Rs. 1.93 lakhs for annual premium payments and Rs. 2.19 lakhs for single premiums.
    Benefits
    • For higher sums assured, the policy offers discounts of up to 6.5% on the premiums.
    • The policy offers maturity benefits that are the sum of the sum assured and bonuses offered if any.
    • The bonuses offered for this policy are the simple reversionary bonus and a guaranteed terminal bonus.
    • The death benefits offered by this policy are a payment of the sum assured, any vested bonuses and the guaranteed terminal bonus.
    • The plan can also be taken with a critical illness rider which helps enhance the cover offered.
    • The policy also offers tax benefits under section 80C and section 10(10D) of the IT Act.
    • In case you ever fall short of funds then you can also take a loan of up to 60% based on this policy.

    Exide Life Secured Income Insurance Plus

    The Secured Income Insurance plan from Exide Life Insurance is a plan that comes in two variants. The first is the plus and the second the regular pay plan.

    Eligibility

    To be able to take the Secured Income Insurance Plus plan you need to be no older than 50 years of age. There is no minimum age for entry under this plan. The age on maturity, however, must be between 18 years and 70 years.

    Features
    • The policy term can range from 10 years to 20 years.
    • The premium paying term comes with 3 options. Pay for 5 years, 7 years or 10 years.
    • The minimum annual premium payable for this policy is about Rs. 18,000 which is associated with the premium paying term of 10 years.
    • There is no limit on the premiums that can be paid under this policy.
    • The premium can either be paid annually or every month.
    Benefits
    • The death benefits offered under this policy are the sum of the guaranteed death benefits and any bonuses as applicable.
    • The bonuses offered under this policy are a vested bonus, a simple reversionary bonus and a terminal bonus.
    • The policy also offers two choices for taking the death benefits:
      • Take the death benefits as a lump sum
      • Take part of the death benefits as a lump sum and the remainder as family income for up to 60 months.
    • The policy offers up to 7% discount on the premiums for higher sums assured.
    • It also offers tax benefits on premiums and death benefits under section 80C and 10(10D) of the IT Act.

    Exide Life Secured Income Insurance Regular Pay

    This is the second option under the Secured Income Insurance plans where you pay premiums for the duration of the policy term instead of just for a limited time.

    Eligibility

    This plan too has no minimum age for entry into the plan. The maximum age, however is 55 years and the minimum and maximum ages at maturity are set to 18 years and 70 years, respectively.

    Features
    • The policy term for this plan can range from 15 years to 25 years.
    • Since this is a regular pay policy, the premium is paid for the entire duration of the policy term.
    • The minimum annual premium that can be paid for this policy is about Rs. 12,000
    • There is no limit on the maximum premium that can be paid.
    • The premiums can be paid annually or monthly however if they are paid monthly then the first 3 months premium needs to be paid in one go.
    Benefits
    • The maturity benefits of this policy are the sum assured and any vested bonuses as applicable.
    • The death benefits are a sum of the guaranteed death benefit and any other bonuses that may be applicable.
    • The policy offers terminal, vested and simple reversionary bonuses.
    • The death benefits can be taken in two ways:
      • As a lump sum where 100% of the benefits are given in one go or
      • As a family income plan where 50% is given in a lump sum and the reaming as a monthly income for up to 60 months (5 years).
    • The premiums paid and the benefits earned are eligible for tax benefits under section 80C and 10(10D) of the IT Act
    • The policy can also be used to take loans once it reaches the surrender value.
    • High sums assured are also offer discounts on premiums of up to 7%.

    Exide Life Prospering Life Plus

    The Prospering Life Plus is a unit linked insurance plan that offers investors the opportunity to invest their money in a place where it has ample opportunities to grow.

    Eligibility

    To be eligible to invest in this plan you need to be no older than 55 years at the time of entry. The maturity age for this plan is set to between 18 years old and 75 years old.

    Features
    • The policy can be taken for 10 years, 15 years or 20 years.
    • The premium paying term can be 5 years, 10 years or equal to the policy term.
    • The premiums can be paid annually or every month.
    • The minimum premium that can be paid for this policy is about Rs. 24,000 annually.
    • The basic sum assured depends on the entry age.
      • For those below the age of 45 years it is 10 times the annual premium
      • For those above the age of 45 years it is 7 times the annual premium
    • The policy also allows for top-up premiums to be paid which range from Rs. 6,000 to Rs. 7.8 lakhs.
    Benefits
    • The maturity benefits under this scheme can be taken in two ways:
      • The entire fund value as a lump sum or
      • 20% to 80% of the fund value as a lump sum and the remainder as a monthly income for 5 years.
    • The policy also offers claw-back additions, if needed, to the policy at the time of withdrawal.
    • It offers investors a limited pay option of 10 years or 15 years.
    • Funds can be partially withdrawn from the policy after the end of the first 5 years.
    • The policy can be surrendered at any time and also comes with surrender benefits.
    • It offers a choice of 6 funds to invest in and you can switch between funds at any time.
    • The policy will also offer tax benefits under sections 80C and 10(10D).

    Exide Life Prospering Life Plus Single Pay

    This too is a unit linked policy which is the single pay variant of the Prospering Life Plus plan. It offers you the opportunity to pay the entire premium for the policy in a lump sum.

    Eligibility

    The entry age limit for this policy is 65 years of age and there is no minimum age to enter. The minimum and maximum ages at maturity are set to 18 years and 75 years respectively.

    Features
    • The policy can be taken for tenures of 10 years, 15 years of 20 years.
    • The premium is paid in one go as a lump sum.
    • The minimum premium payable for this policy is about Rs. 96,000 and there is no limit on the maximum.
    • The top-up premiums can range from Rs. 6,000 to Rs. 7.8 lakhs.
    • The basic sum assured is 1.25 times the premium if the policyholder is below 45 years of age and 1.1 times the premium if they are above 45 years of age.
    Benefits
    • Under this scheme the maturity benefits can be taken as per two options.
      • The entire fund value as a lump sum or
      • Part of the fund value as a lump sum and the remainder as a monthly income for up to 5 years.
    • This policy too will offer claw-back additions if needed at the time of maturity.
    • The policy offers partial withdrawals which can be made after the first 5 years.
    • It also offers surrender benefits and can be availed at any time.
    • It also offers a choice of 6 funds to invest in and unlimited switching between said funds.

    Exide Life Guaranteed Income Insurance Plan

    If you are looking for a way to augment your income this policy might be what you are looking for. It offers the combination of guaranteed incomes along with attractive tax benefits.

    Eligibility

    To be able to take this policy you need to be between the ages of 3 years and 55 years. The maximum maturity age ranges from 26 years to 85 years.

    Features
    • The policy can be taken for terms of 15 years, 20 years, 24 years or 30 years.
    • The premium paying terms for this policy can range from 7 years to 15 years.
    • The payout term can range from 8 years to 15 years.
    • The minimum sum assured under this scheme is about Rs. 90,978 and there is no maximum limit on it.
    • The premiums can be paid monthly, quarterly, half-yearly or annually.
    Benefits
    • The main benefit of this plan are the survival benefits which are a guaranteed income.
    • The policy also offers the sum assured as a maturity benefit for this policy.
    • It also comes with tax benefits under sections 80C and 10(10D).
    • The death benefits offered by this policy can be taken as a lump sum or 110% of the guaranteed death benefits can be taken in instalments over 60 months.
    • The policy can be used to secure a loan of up to 80%
    • If the premiums are paid for the first two years then discontinued, the policy will become a reduced-paid up policy with reduced benefits.
    • It also comes with a free look period of 15 or 30 days.

    Exide Life Smart Future Insurance Plan

    This is a unit linked insurance policy that allows your money to grow while offering you benefits like comprehensive life cover and flexibility in the premium paying term.

    Eligibility

    The entry age for this plan ranges from 3 years to 55 years and the maximum age for maturity is 70 years.

    Features
    • This policy can be taken for terms ranging from 15 years to 30 years.
    • While there is no limit on the premium that can be paid, the minimum annual premium for this plan is about Rs. 48,000.
    • It also offers the facility of paying top up premiums ranging from Rs. 8,000 to Rs. 8 lakhs.
    • The premiums can be paid annually, semi-annually, quarterly or even monthly.
    • The premium paying term can be 5 to 15 years depending in the policy term.
    Benefits
    • The policy offers death benefits that are the higher of the sum assured minus any partial withdrawals in the last 2 years or the fund value.
    • The death benefits will never be less than 105% of the premiums paid.
    • Once you get married you can cover your partner under the policy too.
    • At the time of maturity, the policy also offers loyalty bonuses at the time of maturity.
    • The policy also offers surrender benefits and can be surrendered at any time.
    • The premiums paid for this policy are covered for tax benefits under section 80C.
    • The benefits earned through this policy are exempt from tax under section 10(10D).

    Exide Life Jeevan Uday

    The Jeevan Uday plan offered by Exide Life Insurance is a non-linked participating plan that can make all the difference when it comes time to plan for future expense.

    Eligibility

    To be able to take this policy you should not be older than 55 years of age. There is no minimum age for taking this policy but there are minimum and maximum ages for the maturity, which are set to between 18 years of age to 70 years of age.

    Features
    • The policy term under this plan can be of 10 years, 15 years or 20 years.
    • The premiums paying term in each case is 10 years.
    • The premiums can be paid half-yearly or annually.
    • The minimum premium that can be paid is about Rs. 37,734.
    • The minimum sum assured under this policy is Rs. 42,000.
    Benefits
    • No medicals are required when taking this policy.
    • The policy offers maturity benefits which amount to the sum assured along with applicable bonuses.
    • The bonuses offered by the policy are a simple reversionary bonus and a terminal bonus.
    • The death benefit of this policy is the sum assured along with simple reversionary and terminal bonuses as applicable.
    • In case the premiums are not paid after the first year, the policy will continue to stay in effect for another year.
    • The premiums paid are also eligible for tax benefits under sections 80C and 10(10D).
    • If the premiums for 3 years have been paid for the policy then you can even take a loan of up to 90% against this policy.

    Exide Life Nirmal Jeevan Insurance

    This is an endowment assurance plan that helps build wealth that can ensure the financial future of your family.

    Eligibility

    To be able to take this policy, you must be between the ages of 3 years and 55 years. The maximum maturity age for this policy is between 18 years and 70 years.

    Features
    • This policy can be taken for tenures of 10 years, 15 years or 20 years.
    • The premium paying term for this policy are equal to the tenure of the policy.
    • The minimum annual premium is Rs. 6,000 and the maximum is Rs. 12,000.
    • The premiums can only be paid annually.
    Benefits
    • The death benefits of this policy is the sum assured under the policy.
    • The sum assured is also paid as a maturity benefit for this policy.
    • If premiums are not paid regularly, instead of lapsing, the policy continues to stay in force for 2 to 3 years.
    • If the premiums are paid for 3 years then the policy can be used to secure a loan.
    • The premiums paid towards the policy and the benefits received from it are eligible for income tax benefits under section 80C and 10(10D).

    Other Exide Life Insurance Plans

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