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    Exide Life Term Insurance Plans

    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

    Secure your family’s financial future with a comprehensive term Insurance plan. Exide Life Insurance Company Limited offers an excellent term insurance or protect plan that not only gives you life insurance cover but also return of premiums upon policy maturity. Pay a nominal annual premium and enjoy comprehensive life cover protection in the case of unfortunate events with Exide Life Smart Term Plan.

    Benefits of Exide Life Term Insurance or Protection Plans:

    Following are the benefits of choosing Exide Life Smart Term Plan to secure the financial future of your family:

    • The Exide Life Smart Term plan offers you 3 plan options to suit your protection needs:
    • Classic protection with return of premium: Pay a nominal annual premium for a chosen Life Cover. On completion of policy term, you will receive an amount equal to 100% of the annual premiums. In the event of death, your family will receive the chosen life cover.
    • Step-up protection with higher return of premium: Pay a nominal annual premium for a chosen Life Cover. On completion of policy term, you will receive an amount up to 150% of the annual premiums paid. The Return of Premium is based on the chosen policy term:
      • Return of Premium for a policy term of 10 to 14 years is 110%
      • Return of Premium for a policy term of 15 to 19 years is 120%
      • Return of Premium for a policy term of 20 to 24 years is 130%
      • Return of Premium for a policy term of 25 to 29 years is 140%
      • Return of Premium for a policy term of 30 years is 150%

    In the event of death, your family will receive the chosen life cover.

    • Comprehensive protection with return of premium: First, you have to choose a Life Cover under the Classic variant for a nominal annual premium. In addition to the base cover, you can add a higher Life Cover by an additional annual premium. On completion of policy term, you will receive 100% of annual premiums paid for the Classic variant. In the event of death, your family will receive the total life cover chosen under the classic variant and the additional life cover.

    You have to choose a variant at the policy inception stage. Keep in mind, the chosen variant cannot be changed during the policy term.

    • Flexible premium paying options: Under the Exide Life Smart Term Plan, you can choose any of the 3 Premium Paying Terms (PPT) - Regular Pay (pay over the entire policy term), Single Pay or 5 Pay (pay for a short duration while being covered for the full policy term).
      • PPT for Classic variant is Regular Pay, 5 pay or Single Pay
      • PPT for Step-up variant is Regular Pay or 5 pay
      • PPT for Comprehensive variant is Regular Pay or Single Pay
    • Enhanced protection through Riders: You have the option to enhance your life cover protection by adding riders at a nominal additional premium. Exide Life Insurance offers the following riders:

    Riders can be attached to a new or existing traditional Exide Life Insurance Plan.

    • Tax benefits: With the Exide Life Smart Term Plan, you can save tax:
      • Under Section 80C on premiums paid
      • Under Section 10 (10D) on premium refund and Life Cover amount
      • Under Section 80D on premiums paid towards Critical Illness Rider

    List of Term Insurance or Protection Plans Provided by Exide Life Insurance Company Limited:

    Exide Life Insurance offers one comprehensive term insurance or protection plan called the Exide Life Smart Term Plan. It is a non-linked, non-participating life insurance plan that comes with 3 variants to ensure you provide the desired financial protection for your family. You can get enhanced life cover protection by adding an Exide Life Term Insurance Rider for a nominal additional premium. You can also enjoy tax benefits under this plan. Depending on your convenience, you can choose to pay premium once via Single Pay, for 5 years via 5 Pay or for the full policy term via Regular Pay.

    Plan Name Entry Age (Age criteria differs based on the chosen Premium Paying Term) Policy Term Minimum Sum Assured
    Exide Life Smart Term Plan - Classic protection with return of premium
    • 18 to 65 years for Single Pay
    • 18 to 65 years for 5 Pay
    • 18 to 60 years for Regular Pay
    • 10 to 30 years for Single Pay
    • 10 to 30 years for 5 Pay
    • 12 to 30 years for Regular Pay
    • Rs.5 lakhs for Single Pay
    • Rs.10 lakhs for 5 Pay
    • Rs.5 lakhs for Regular Pay
    Exide Life Smart Term Plan - Step-up- Protection with higher return of premium
    • 18 to 60 years for 5 Pay
    • 18 to 58 years for Regular Pay
    • 10 to 30 years for 5 Pay
    • 12 to 30 years for Regular Pay
    • Rs.10 lakhs for 5 Pay
    • Rs.10 lakhs for Regular Pay
    Exide Life Smart Term Plan - Comprehensive protection with return of premium
    • 18 to 65 years for Single Pay
    • 18 to 60 years for Regular Pay
    • 10 to 30 years for Single Pay
    • 12 to 30 years for Regular Pay
    • Rs.10 lakhs for Single Pay
    • Rs.10 lakhs for Regular Pay

    Under this plan, a woman policyholder gets an advantage of paying a base premium equivalent to the premium paid by a man who is 3 years younger to her. If you choose a higher basic sum assured, you will get the benefit of lower premium rates. The lower premium rates is applicable only for basic sum assured in the range of Rs.10 lakhs to less than Rs.20 lakhs, Rs.20 lakhs to less than Rs.50 lakhs, and Rs.50 lakhs and above.

    Why one needs Exide Life Term Insurance or Protection Plan?

    Whether you face the risk of dying sooner or living longer, you will need a life insurance to secure the financial future of your family. Exide Life Term Insurance Plan offers financial protection to your family in the event of your death. The other reasons for having a term insurance are to have a reliable source of income after retirement, benefit from having a second income in the case of critical illness or accident, and to provide for your children’s education, wedding, and lifestyle requirements.