• Exide Life New Fulfilling Life Plan

    Life Insurance
    • Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
    • Claim up to Rs. 1,50,000 deduction under section 80C**
    • Choose between annual and monthly premium payment options

    Financial planning is an imperative to protect you against unforeseen situations and to build a sound retirement corpus. The Exide Life New Fulfilling Life plan provides you a systematic method of savings along with life protection. It brings all the essential elements of a financial plan under one roof including savings, life insurance, and tax benefits.

    Eligibility – Who is the Exide Life New Fulfilling Life Plan for?

    To be eligible for Exide Life New Fulfilling Life Plan, you should meet the below mentioned conditions:

    Minimum age at entry 15 years
    Maximum age at entry
    • 50 years for premium payment terms of 12, 16, or 20 years
    • 46 years for premium payment term of 24 years
    Maximum age at maturity 85 years

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

    The policy offers periodic survival benefits and other enhanced features which is different from the traditional life insurance plans. The details of the sum assured and modes of payment are given below:

    Minimum Basic Sum Assured
    • Rs.1,15,942 for a premium term of 12 years
    • Rs.75,642 for a premium term of 16 years
    • Rs.96,339 for a premium term of 20 years
    • Rs.1,48,331 for a premium term of 24 years
    Maximum Basic Sum Assured No limits on Maximum Basic Sum Assured
    Maximum Premium No limit, subject to underwriting
    Minimum premium amount (for a premium term of 12 years)
    • Rs.24,000 annually
    • Rs.2,000 monthly
    Minimum premium amount (for a premium term of 16, 20 or 24 years)
    • Rs.12,000 annually
    • Rs.1,000 monthly
    Premium Payment Modes Annual or monthly

    Plan coverage - What the Exide Life New Fulfilling Life Plan covers?

    • The plan offers survival benefits in every few years, which helps policyholders to meet their short term goals.
    • On survival of policyholder till maturity of the plan, the policyholder shall receive guaranteed sum assured, vested bonus, and terminal bonus (non-guaranteed).
    • The death benefits paid under the plan shall not be less than 105% of the total premiums paid by the policyholder.
    • The guaranteed death benefits offered under the plan is higher of the sum assured and/or it is equal to 10 times the annualized premium.
    Maturity Benefits On survival of policyholder till the maturity of the policy, he/she shall receive maturity benefits which will include the following:
    • Guaranteed Sum Assured
    • Vested Bonus
    • Terminal Bonus (if any)
    Death Benefits The plan provides coverage till the policyholder attains 85 years of age. But in case of the unfortunate death of the policyholder during the tenure, his/her beneficiaries shall receive the following:
    • Guaranteed Death Benefits
    • Vested Bonus
    • Terminal Bonus (if any)
    Bonuses Bonuses represent the share of policyholder in the company’s profits. It is calculated on the sum assured chosen by the policyholder. Exide Life New Fulfilling Life Plan offers two types of bonuses:
    • Simple reversionary bonus
    • Terminal bonus

    Exclusions - What the Exide Life New Fulfilling Life Plan doesn’t cover?

    Suicide Exclusion - In the event of suicide of the life assured within one year from the start of the policy or within one year from the date of reinstatement, the insurance contract will become void and the company shall not pay any of the benefits other than the following:

    • 80% of the premiums paid till death excluding service tax shall be paid to the beneficiaries if death occurs within one year of commencement of the plan.
    • A sum higher of 80% of the premiums paid till death shall be paid if the death occurs within one year of reinstatement of the policy.

    Other Key Features – Free Look Period, Surrender Values, Grace Period etc.

    Free Look Period If the policyholder disagrees with the terms and conditions mentioned the policy contract, he/she can return the policy back to the insurer within 15 days of receipt of the policy documentation. This interval is referred to as the free-look period. The free-look period for policies that were purchased through distance marketing channels like online sale, telephonic purchase, etc. is 30 days. The policyholder is then eligible to receive a refund of the premiums paid minus the charges borne by the insurer for stamp duty and medical examination.
    Grace Period The company provides a grace period of 30 days in case you are not able to pay the premiums on time. Failure to pay the premiums even after the grace period can result in policy lapse.
    Revision of charges Exide Life Insurance revise the charges associated with the plan, after taking approval from the IRDAI. The premium allocation charge and the mortality charge cannot be changed and are guaranteed throughout the policy tenure.
    Reduced paid-up If the policyholder discontinues premium payments after paying premiums for three full years, then the policy acquires a reduced paid-up value on expiry of the grace period.
    Surrender The policy allows a surrender option to meet the immediate financial needs of the policyholder. The policy can be surrendered if premiums for one full year has been paid.
    Reinstatement of the policy The policy can be reinstated within 2 years from the date of first unpaid premium.

    Tax Benefits – How you can save with the Exide Life New Fulfilling Life Plan?

    Policyholders can avail tax benefits under Section 10(10D) and Section 80C of the Income Tax Act, 1961. The tax laws are subjected to change from time-to-time and therefore, customers are advised to consult a tax advisor before purchasing the plan.

    Other Benefits – How you can save with the Exide Life New Fulfilling Life Plan?

    You can view the details of your Exide Life New Fulfilling Life Plan online through the customer portal of Exide Life Insurance. You also have the option to renew your policy online. Payments can be made through the following channels:

    Debit Cards MasterCard, Visa, Maestro, and RuPay cards are accepted
    Credit Cards MasterCard, Visa, Maestro, American Express, and Diners Club cards are accepted
    Net Banking You can use the Net Banking facility to make premium payments online
    e-Wallets Premiums can be paid through e-Wallets as well


    Why you should buy the Exide Life New Fulfilling Plan from Exide Life Insurance?

    Exide Life Insurance has more than 30,000 experienced financial advisors to help customers choose the right plan based on their needs and preferences. The company has a higher claim settlement ratio and serves more than 10 lakh customers across India. Exide Life Insurance has a broad portfolio of products which can be categorized into savings, protection, retirement, and investment. It has more than 200 branch offices and a 24x7 customer support center.

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