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  • Exide Life New Creating Life Insurance Plan

    Exide Life Insurance

    Exide Life Insurance has launched child insurance plans under ‘Exide Life New Creating Life Insurance Plans’. The plans under this category offer financial security to your child and ensures that your children’s dreams are fulfilled. There are two plans under the category. Listed below are the two plans offered under this bouquet.

    • Exide Life New Creating Life Insurance Plus
    • Exide Life New Creating Life Insurance Regular Pay

    Eligibility Conditions of Exide Life New Creating Life Insurance Plan

    Eligibility criteria Exide Life New Creating Life Insurance Plus Exide Life New Creating Life Insurance Regular Pay
    Minimum age at entry(Parent) 18 years 18 years
    Maximum age at entry(Parent) 65 years 65 years
    Minimum age at entry (child) 0 years 0 years
    Maximum age at entry(child) 17 years 17 years

    Key Features of Exide Life New Creating Life Insurance Plan

    Feature Exide Life New Creating Life Insurance Plus Exide Life New Creating Life Insurance Regular Pay
    Type Term life insurance policy Term life insurance policy
    Premium paying term 5,7 or 10 years 15-25 years
    Policy term 10-20 years for a PPT OF 5 years

    12-20 years for a PPT of 7 years

    15-20 years for a PPT of 10 years

    Same as Premium Paying Term
    Minimum annual premium Rs.36,000 p.a. for PPT of 5 years

    Rs.24,000 p.a. for PPT of 7 years

    Rs.18,000 for PPT of 10 years

    Rs.12,000 p.a.
    Premium payment mode Annually or monthly Annually or monthly
    Guaranteed additions Guaranteed addition of 10% of Sum assured on maturity None
    Waiver of premium Yes Yes

    Benefits and Advantages of Exide Life New Creating Life Insurance Plan

    • Tax benefits:On maturity, the child under the plan gets tax free amount which is equal to all the accumulated sum assured and bonuses over the term of the policy.
    • Life cover along with Family Income benefit:In case of an unfortunate event, your family will be paid a Sum Assured on Death which will be higher of the following-10 times the Annualized Premium or Base Sum Assured
    • Waiver of premium:All the premiums will be waived off in case of the unfortunate death of the premium payer.
    • Discount for higher premiums:The plan rewards the insured with discounts if they pay higher premiums.

    How does Exide Life New Creating Life Insurance Plans?

    32 year old Satish has a 1 year old daughter and wants to save Rs. 15,00,000 for her higher education. He saves Rs. 1,00,000 for 10 years while the plan continues for 20 years. He gets a sum assured of Rs. 8,35,676. He opts for Family Income Benefit as life cover payout option.

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