Everybody dreams to attain growth in every aspect of life. This is a unit-linked plan that provides you multiple options of investment and flexibilities that give you control over the various investments you make. It also offers guaranteed life cover. You get 6 investment funds with unlimited free switches. You receive benefit from asset allocation style of managing funds. Everybody dreams to attain growth in every aspect of life. This is a unit-linked plan that provides you multiple options of investment and flexibilities that give you control over the various investments you make. It also offers guaranteed life cover. You get 6 investment funds with unlimited free switches. You receive benefit from asset allocation style of managing funds.
To be eligible to purchase the Exide Life Prospering Life Plus - a Unit Linked Insurance Plan, the individuals must be of a minimum age, and the maximum entry age, and the age at maturity must also be adhered to. Following are the eligibility criteria to purchase the Exide Life Prospering Life Plus - a Unit Linked Insurance Plan:
|Minimum Entry Age||The entry age for single pay premiums is 0-65 years. The entry age for limited pay and regular pay is 0-55 years.|
|Maximum Age at Maturity||The age of maturity for single pay premiums is 18-75 years. The age of maturity for limited pay or regular pay is premiums is 18-75 years.|
|Policy Term||10, 15, and 20 years|
Following are the sum assured and premium details of the Exide Life Prospering Life Plus - the Unit Linked Insurance Plan:
|Premium Level||Regular: For a premium paying term of 15 years or more time: Annually-Rs.24,000 and monthly- Rs.3,000 For a premium paying term 10 years or more time: Annually-Rs.36,000 and monthly-Rs.4,000 For a premium paying term 5 years: Annual- Rs.48,000 and monthly-Rs.5,000 For a single premium paying term: Rs.96,000|
|Levels for sum assured on maturity||You can either get the fund value equal to the day of maturity as a lump sum. You can get a part of the fund value as on the day of the maturity together and a part in installments of equal amounts over 5 years.|
|Levels for sum assured on death||The sum assured you receive on death is 105% of the premiums paid.|
|Premium payment option||Monthly, annually, and single pay.|
*Premiums vary based on age, location, plan term and other factors.
Following are the benefits offered by Exide Life Prospering Life Plus – a Unit Linked Insurance Plan:
|Death Benefit||In case of the unfortunate event of death, the sum assured will be 105% of the premiums paid or, the entire fund value will be paid.|
|Surrender Benefit||In case you surrender the policy during the first 5 years of buying it, the following will be applicable:
In case the life assured commits suicide within one year from the date on which the policy was issued, 80% of the single premium will be payable to the beneficiary.
The Exide Life Prospering Life Plus-a Unit Linked Insurance Plan offers tax benefits under Section 10(10D) and Section 80C of the Income Tax Act, 1961.
Exide Industries Limited has 100% ownership of Exide Life Insurance Company Limited and for the FY 2015-2016, the company made more than Rs.2000 crores in Premium Income. The company made a profit of Rs.112 crore for the financial year. The company is also known for their innovate approach to promote new insurance products. For example, earlier in 2017, Exide Life started a campaign on Twitter called “#nomoreexcuses” to promote their product, Sanjeevani Health Insurance for Heart and Cancer. This hashtag garnered almost 10,000 tweets. The campaign also gained momentum on various social media channels with millions of hits on their videos. The company’s approach to tackle the issue of health has definitely not gone unnoticed.