Exide Life Insurance Riders

• Reduce taxable income by up to Rs. 1,50,000 deduction under section 80C**
• Convenient payment options - annual, half-yearly, quarterly or monthly premium payments
• Do more with plans that offer pure protection, retirement planning and investment options

Exide Life Insurance Company Limited offers insurance riders to you, the policyholder for enhanced protection against critical illnesses and accidental disabilities. As a customer of Exide Life Insurance, you can add riders to your existing life insurance plans at the time of policy renewal or while buying a new policy. The 3 types of riders offered by Exide Life Insurance are:

• Exide Life Term Rider: You can double the life cover on your existing Exide Life Insurance Plan by adding Exide Life Term Rider to it. This rider can be added to select traditional life insurance plans offered by Exide Life Insurance for a nominal additional premium.
• Exide Life Critical Illness Rider: Critical illness cover comes in the form of a rider at Exide Life Insurance. This rider covers 25 major critical illnesses. If you, the policyholder is diagnosed with a critical illness covered by the Exide Life Critical Illness Rider, you will be immediately paid a lump sum amount equal to the rider sum assured to cover your medical expenses.
• Exide Life Accidental Death, Disability, and Dismemberment Benefit Rider: This rider can be added to a traditional Exide Life Insurance Policy. It provides enhanced protection in the case of accidental death, disability or dismemberment.

Benefits of Exide Life Riders:

Following are the benefits of choosing Exide Life Riders:

• Enhanced protection: You can get enhanced protection by adding riders to your existing base policy for life, accident, and health.
• Double life cover: Get up to double the life cover with Exide Life Term Rider at a nominal cost.
• Financial protection: Under the Exide Life Accidental Death, Disability, and Dismemberment Benefit Rider, your family will be protected financially in the case of an unfortunate event like accidental death, disability or dismemberment of the life assured.
• Lump sum amount: Under the Exide Life Critical Illness Rider, if you, the policyholder is diagnosed with a critical illness, you will receive a lump sum amount equal to the rider sum assured to take care of the medical expenses.
• Tax benefits: You can enjoy tax savings on premiums paid towards Exide Life Critical Illness Rider and benefit amounts under Section 80D and Section 10(10D), respectively.

List of Insurance Riders Provided by Exide Life Insurance Company Limited:

Exide Life Insurance offers 3 types of riders:

Exide Life Term Rider:

Get an additional life cover at a nominal cost with Exide Life Term Rider. This rider covers death due to natural and accidental causes.

Benefits and features of Exide Life Term Rider:

Following are the benefits and features of Exide Life Term Rider:

• Double Life Cover: In the case of demise of the life assured, the family will be paid up to double the life cover (i.e., the rider amount in addition to the base plan life cover amount).
• Nominal premium: You can get enhanced life cover on your existing Exide Life Insurance Plan by paying a nominal additional premium for Exide Life Term Rider.
• Death Benefit: In the case of demise of the life assured, the Rider Sum Assured on Death is paid to the family. Rider Sum Assured on Death is higher of 10 times the annualized rider premiums or rider sum assured. Death Benefit will not be less than 105% of the rider premiums paid, excluding service tax and extra premiums paid.
• Tax benefit: You can get tax benefits on premiums paid under Section 80C and on lump sum payouts under Section 10(10D).
• Sum Assured: Minimum Sum Assured is Rs.50,000 and maximum is lower of Sum Assured of the base policy or Rs.50 lakhs.
• Rider Term: Minimum 5 years to maximum 40 years.
• Premium Paying Term (PPT): Regular pay.
• Premium Payment Frequency: Same as that of the base policy.

Exide Life Critical Illness Rider:

If you want to get enhanced protection against critical illnesses, opt for Exide Life Critical Illness Rider. You can add this rider to your new or existing Exide Life Insurance Policy. Pay a small premium to avoid major financial crisis. Premium rates for this rider are fixed for 5 years, after which they can be revised. If the rider premium is discontinued, the rider and its benefits will be terminated automatically.

Benefits and features of Exide Life Critical Illness Rider:

Following are the benefits and features of Exide Life Critical Illness Rider:

• Under the Exide Life Critical Illness Rider, you are given 2 options to choose from for critical illness cover:
  • Option A: It covers 4 critical illnesses, heart attack, cancer, stroke, and coronary artery bypass graft.
  • Option B: It covers 25 critical illnesses (Cancer, heart attack, stroke, open chest coronary artery bypass graft, kidney failure, organ transplant, brain tumour, paralysis, blindness, coma, major burns, loss of speech, head trauma, pulmonary hypertension, systemic lupus erythematosus, apallic syndrome, Parkinson's disease, Alzheimer disease, chronic lung disease, liver disease, aplastic anaemia, heart valve surgery, surgery of aorta, motor neurone disease, and multiple sclerosis).
• Benefit payout: If the policyholder is diagnosed with any of the listed critical illnesses, you will be paid a lump sum amount equal to the rider sum assured immediately after diagnosis, irrespective of the actual medical expenses incurred during treatment.
• Sum Assured: Minimum Sum Assured is Rs.50,000 and maximum is lower of Sum Assured of the base policy or Rs.25 lakhs.
• Rider Term: Minimum 5 years to maximum 40 years.
• Premium Paying Term (PPT): Regular pay.
• Premium Payment Frequency: Same as that of the base policy.
• Tax benefit: You can get tax benefits on premiums paid under Section 80C and on benefit amounts paid under Section 10(10D).

Exide Life Accidental Death, Disability, and Dismemberment Benefit Rider:

Provide your family additional financial protection in the case of an unfortunate event.

Benefits and features of Exide Life Accidental Death, Disability, and Dismemberment Benefit Rider:

Following are the benefits and features of Exide Life Accidental Death, Disability, and Dismemberment Benefit Rider :

• Additional protection: The eligible persons will be paid an additional lump sum amount in the case of accidental death, disability or dismemberment.
• Easy to purchase: You need not buy a new policy to avail this rider. It can be added to existing traditional Exide Life Insurance Plans.
• Rider Sum Assured: 100% of the rider sum assured will be paid to the family in the case of death of the life assured due to an accident. A % of the sum assured will be paid in the case of accidental disability or dismemberment.
• Exclusions: This rider doesn’t cover death, disability or dismemberment caused by any of the following:
  • A disease or infection.
  • Self-inflicted injury, suicide or attempted suicide.
  • Under the influence of alcohol, narcotics or drugs.
  • War, invasion, riots, etc.
  • Participation in any flying activity except as a passenger in a commercial flight.
  • Participation in a criminal act.
  • Injury sustained before the commencement of this rider.
  • Participation in hazardous sports, hobbies or pastimes like racing, mountaineering, etc.
  • Nuclear explosion or any kind of radiation exposure.
• Sum Assured: Same as that of the base policy.
• Rider Term: Minimum 10 years to maximum 75 years.
• Premium Paying Term: Regular pay.
• Premium Payment Frequency: Same as that of the base policy.
• Tax benefit: You can get tax benefits on premiums paid under Section 80C and on benefit amounts under Section 10(10D).

Why one needs Exide Life Insurance Riders?

Exide Life Insurance Company Limited offers 3 types of riders that are designed to offer enhanced protection against critical illnesses and accidental disabilities. Protect your family with a comprehensive life cover that can be used to meet their financial requirements in your absence.

With Exide Life Term Rider, you can get up to double the life cover on your existing Exide Life Insurance Plan for a nominal additional premium. You can also enjoy tax savings on rider premiums paid, benefit amounts, and premiums paid toward critical illness riders under Section 80C, Section 10(10D), and Section 80D, respectively.