Exide Life Prospering Life Plus

1. The sum assured is 7 to 10 times the annual premium if you have gone in for a regular pay or a limited pay policy. In case you have gone in for the single pay policy you will get a cover of 1.1 to 1.25 times the premium paid.
2. The policy can be taken for 10, 15 or 20 years.
3. The premium needs to be either paid for 5 years, 10 years or for the duration of the policy.
4. The premiums for the limited and regular pay policies can either be paid monthly or annually.
5. The minimum premium that you will have to pay will depend on the tenor of your policy.
6. For a premium paying term of 5 years is Rs. 48,000 if you pay annually and Rs. 5,000 if you pay monthly.
7. The premiums for a premium paying term of 10 years will be a minimum of Rs. 36,000 annually and Rs. 4,000 monthly.
8. The premiums for the regular pay policy are Rs. 24,000 annually and Rs. 3,000 annually.
9. The minimum premium in case of a single pay policy is Rs. 96,000.
10. You can even pay top-up premiums which will also give you an additional sum assured of 1.1 to 1.25 times the top-up premium that you pay.
11. Once the policy has been active for 5 years, you will have the option to make partial withdrawals which will allow you to address any liquidity needs that arise.
12. The policy can be surrendered at any time before it matures. It can even be surrendered in the initial 5 year lock-in period.

Benefits of Exide Life Prospering Life Plus ULIP

Apart from the maturity and death benefits, this policy also offers loads of other benefits.

1. When the policy matures you get the value of the funds as the maturity benefits. You can take these benefits as a lump sum or you can take a part of it as a lump sum and the remainder as instalments for 5 years.
2. The death benefits with this policy are the highest of the funds value, 105% of the premium paid and the sum assured.
3. The premiums that you pay towards this policy and the benefits that you receive from it can earn you tax benefits under sections 80C and 10(10D) of the IT Act.
4. You get to choose from between 6 different funds while investing, based on how much of a risk you are willing to take.
5. If you keep the policy for its entire duration you also become eligible for loyalty benefits of 0.5% to 0.75% of the fund value. This benefit is not available if your annual premium is less than Rs. 96,000 or the single premium you paid is less than Rs. 1.44 lakhs.
6. In case you are not well versed with the way markets operate you can let the company decide on how to invest your funds through the Active Asset Allocation Fund.

Eligibility Criteria

Before you can apply for this policy, you must ensure that you meet the following criteria:

1. For the limited and regular pay policies, the entry age is between 0 to 55 years.
2. For single pay policies the entry age is between 0 to 65 years.
3. The maturity age for all the policies is between 18 years and 75 years.

The Exide Life Prospering Life Plus policy offers you the dual benefits of watching your money grow through investments in the markets and the cover of a

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