Exide Life Group Illness Rider

The Group Illness Rider offered by Exide Life is a non-participating and non-linked group product that offers its customers with an array of benefits that can be clubbed with your base policy. With health being a major concern, people are now realizing the importance of health insurance plan that takes care of any financial expenses that arise at the time of hospitalization. This rider is designed to cater to the financial needs of employees and provides financial protection in case they suffer from a Critical Illness or Terminal Illness listed under the rider. With the Exide Life Group Illness Rider, the rider pays out a chosen percentage of the Sum Assured by the Rider due to a diagnosis of a Critical Illness or Terminal Illness that is listed under the rider. An Exide Life Group Illness Rider can be clubbed with an existing Exide Life Insurance product to avail its benefits. Once the rider has been purchased, a decision will have to made on the percentage of the Sum Assured that will have to be paid at the time of diagnosis of a critical or terminal illness. Some of the fey features of an Exide Life Group Illness Rider are:

• Up to 25 different critical illnesses is covered under this rider
• Employees can avail terminal and critical illness benefit all in one policy
• Flexibility is provided to add or remove an employee from the policy at any time

Eligibility – Who is the Exide Life Group Illness Rider for?

To purchase an Exide Life Group Illness Rider, employer-employee groups will have to meet the eligibility criteria set by Exide Life Insurance or a Group Illness Rider. The eligibility criteria listed below has to be met to purchase an Exide Life Group Illness Rider:

Parameters	Details
Minimum Entry Age	Critical Illness: 18 years Terminal Illness: 18 years
Maximum Entry Age	Critical Illness: 65 years Terminal Illness: 79 years
Minimum Group Size	Non-Employer-Employee Group: 50 members Employer-Employee Group: 10 members
Maximum Group Size	No limit as applicable to the base plan on which the rider has been purchased and attached

Sum Assured and Premium Range – What you get and what it costs?

Employer-employee groups who enrol for Exide Life Group Illness Rider will have to make sure that each member of their company is insured for a certain amount of money. This capital is called the sum assured. Regular contributions in the form of premiums will have to be paid to the insurer to keep the policy running. Listed below are some of the important details that you have to know about the Exide Life Group Illness Rider:

Particulars	Details
Minimum Sum Assured for each member	Rs.1,000
Maximum Sum Assured for Critical Illness	100% of the Sum Assured of the base plan or Rs.50 lakhs (option that is lower)
Maximum Sum Assured for Terminal Illness	100% of the Sum Assured of the base plan or Rs.50 lakhs (option that is lower)
Premium Payment Term	Single
Minimum Policy Term	1 year
Maximum Policy Term	The Exide Life Group Illness Rider will continue to be in force as long as premiums are made at the anniversary of the base policy each year. The policy continues to remain active unless the policyholder terminates the plan or if payments lapse.

Plan Coverage – What the Exide Life Group Illness Rider covers?

The Exide Life Group Illness Rider provides benefits that a policyholder can avail. Some of these benefits are listed below:

Particulars	Details
Critical Illness Benefit	Option A: Cancer of any specified severity Open Chest Coronary Artery Bypass Graft (CABG) First heart attack Stroke that results in permanent symptoms Option B: First heart attack Open Chest Coronary Artery Bypass graft Cancer of Specified Severity Stroke resulting in Permanent Symptoms Benign Brain Tumour Bone Marrow/Major Organ Transplant Permanent Paralysis of Limbs Kidney Failure That Requires Regular Dialysis Coma of Specified Severity Major Burns Blindness Heart Valve Surgery Motor Neurone Disease with Permanent Symptoms Surgery of Aorta Multiple Sclerosis with Persisting Symptoms End Stage Liver Disease Alzheimer Disease Loss of speech Primary Pulmonary Hypertension Aplastic Anaemia Chronic lung disease Parkinson's disease Major Head Trauma Systemic Lupus Erythematosus with Lupus Nephritis Primary Pulmonary Hypertension Apallic Syndrome
Terminal Illness Benefit	An employee make a choice to receive either 50% or 100% of the sum assured up to a maximum of Rs.50 lakhs and the remaining balance is paid after the life assured passes away
Maturity	No maturity benefit is offered with this plan
Protection Benefit	Pure protection benefit is offered

Exclusions – What the Exide Life Group Illness Rider doesn’t cover?

The Exide Life Group Illness Rider benefit shall not be applicable and the policyholder will not receive a payout if any of the listed critical illnesses was caused either directly or indirectly by and of the reasons listed below:

• Any illness, injury, disease or any other medical condition that that the policyholder has contracted before the commencement date of the rider or the date of rider revival which was not disclosed at the time of purchase of the rider.

• Terrorist attacks, war (if war has been declared or not), hostilities, riots, etc.

• Revolution, rebellion, civil war, civil unrest.

• Injury by being a part of any crime committed while part of a group or organization whose mission is to disrupt the running of the government or the city.

• Self-inflicted act or attempted suicide.

• Consumption of any illicit substance like drugs, alcohol, solvent, substance abuse, prescription pills except under the direction and guidance of an authorized medical practitioner.

• HIV/AIDS

• Nuclear fission, nuclear fusion, nuclear contamination, nuclear waste or any ionizing or radioactive radiation or any type of contamination or accident resulting from the mentioned reasons.
• Any injuries arising from professional racing, sports, scuba-diving, any type of aerial flights, or any other type of hazardous activity that could pose a serious or life threatening danger.

• Any congenital condition.

• Any disease that occurs before the commencement of the policy.

Tax Benefits – How you can save with the Exide Life Group Illness Rider?

The policyholder or life assured can avail tax benefits on any premiums made towards the Exide Life Group Illness Rider according to the tax laws under Section 80C and Section 10(10D) of the Income Tax Act, 1961.

Other Features – How you can save with the Exide Life Group Illness Rider?

Listed below are some of the other benefits that a policyholder can avail by purchasing a Group Illness Rider from Exide Life Insurance:

Parameters	Details
Free Look Period	The Free Look Period is applicable as that of the base policy which is 15 days. Distance marketing mode has a Free Look Period of 30 days.
Termination	After the cover term has expired and the life assured does not want to renew it, the rider will terminate.
Nomination	A nomination for the rider policy is permissible with the base policy.
Assignment	Assignment is not permitted under the rider policy.
Grace Period	The grace period is applicable as the base policy. However, a 30 day period is provided from the date of revival of the rider where the policy will not be terminated but all benefits from this rider will be suspended during this period.

Why you should buy the Group Illness Rider from Exide Life?

The Group Illness Rider from Exide Life Insurance Company Limited is a very good option for employer-employee groups who intend on managing their leave and gratuity encashment while also making sure that the discharge of liabilities goes smoothly. Exide Life Insurance Company is one of the country's most renowned insurance providers and boats of several years of experience in the insurance domain. The company has a large customer base of 15 lakh individuals. Operating out of Bengaluru, the company has assets that are worth in excess of Rs.9,500 crores. The company recorded a total premium income that amounted to more than Rs.2,000 crores in the FY 2015-16.

Exide Life Insurance Company Limited employs several different channels that include bancassurance, corporate, broking, and other agencies, and with over 50,000 quality advisors that are on its payroll, finding the right insurance plan that best suits their requirements and needs. A 24/7 customer care service is also available to address any needs and requirements of a customer.