Exide Life Secured Income Insurance Plus Plan

Features of Exide Life Secured Income Insurance Plus

Benefits of Exide Life Secured Income Insurance Plus

The main advantages of Exide Life Secured Income Insurance Plus plan includes:

1. Reduced Paid-up benefit: If and when the policy term is completed by 3 years of regular premium payment, post no premiums being paid, the policy does not lapse and continues as a reduced paid-up policy of lower value.
2. Attractive Tax Free Returns: Premiums paid against this policy are subject to tax exemption as per Section 80C of the Income Tax Act. These exemptions are based on the current tax laws.
3. Loan Benefits: After three years of policy completion, loans against this can be availed by the policyholders
4. Discounts for higher premiums paid: A premium discount is apid to the policyholder when paying higher premiums. The applicable premiums and discount rate can upt 7%.

How Exide Life Secured Income Insurance Plus Works

The Exide Life Secured Income Insurance Plus plan works in 3 simple steps:

1. Step 1: The applicant for the policy has to choose the Policy Term, Premium Paying Term, Sum Assured and premium payment frequency.
2. Step 2: Depending of the parameters chosen such as age, the premium will be decided.
3. Step 3: In the case of the policy holder’s death, Death Benefit will be paid. In the case of maturity of the policy, Maturity Benefit will be paid.
4. Step 4: You can apply for a loan against this policy after 3 years of term completion.

Premium/Payments for Exide Life Secured Income Insurance Plus

This Policy is issued based on the Policyholder prompt and regular premium payments for the chosen duration of Premium Payment Term as mentioned in the Policy Schedule. It is the Policyholder’s responsibility to make sure that the payments are made promptly and at the required or agreed regular intervals for premium payments. In the case of monthly premium payment mode, three (3) months premiums are collected in advance on the date of commencement of the plan and adjusted towards the policy only on the due dates. These advance premiums are nonrefundable, unless the Free Look Cancellation of this policy is being considered.