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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.
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 |
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Maximum age at maturity | 85 years |
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 |
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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) |
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Minimum premium amount (for a premium term of 16, 20 or 24 years) |
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Premium Payment Modes | Annual or monthly |
Maturity Benefits |
On survival of policyholder till the maturity of the policy, he/she shall receive maturity benefits which will include the following:
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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:
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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:
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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:
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. |
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.
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 |
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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