On paying all due premiums during the first half of the policy term, this plan
provides you with regular income during the second half of the policy term on
annual basis. You have the flexibility to choose how you want to receive your income.
Option A: Pure Income Benefit
Under this option, a lump sum amount is paid to you once every year as
guaranteed income. In addition, you benefit from additional income every year
that is paid to you on account of applicable bonuses announced from time to time.
Your Annual Income = Guaranteed Income + Accrued Bonuses
Option B: Income with Maturity Benefit
Under this option, a guaranteed income as lump sum amount is paid to you once
in a year. Apart from this, all bonuses accrued during the policy term are paid to
you on policy maturity as Maturity Benefit along with the last income payout.
Maturity benefit = Last Guaranteed Income Payout +
Bonus will be announced from time to time and are not guaranteed. Income Payout option
has to be chosen at the inception of policy. Once chosen, option cannot be changed during
the policy term.
How Your Guaranteed Income is calculated?
Guaranteed Income is calculated as a fixed percentage of Basic Sum Assured for
a chosen premium payment term.
| Policy Term || Premium Payment Term || Benefit Payout Term || % age of Basic Sum |
Assured paid as
| 16 years || 8 years || 8 years || 25.00% |
|24 years ||12 years || 12 years || 16.67% |
| 30 years || 15 years || 15 years || 13.35% |
In total, 200% of Basic Sum Assured will be paid out as equal Guaranteed Income
installments annually, during the Benefit Payout Term.
While you pay premium only during the first half, you enjoy Life Insurance Cover
over the entire policy term. This ensures financial protection for your family in
case of demise where a lump sum amount is paid to your family.
Life Insurance Cover Amount
(10 times the Annualized Premium* or Basic Sum Assured or 105% of premiums paid)
*Annualized Premium shall be the premium payable in a year, excluding service tax, extra premiums and loadings for modal premiums, if any.
You can enhance the protection under this plan by adding riders at a nominal additional premium. You can choose from the following riders:
- Exide Life Accidental Death, Disability and Dismemberment Rider gives you protection not only in case of a demise caused by accident, but also in case of accidental disability or dismemberment.
- Exide Life Critical Illness Rider gives you an option to cover up to 25 critical illnesses like Heart Attack, Cancer, Paralysis, etc. It pays a lump sum benefit equal to rider sum assured in case the life assured is diagnosed with any of these illnesses.
- Exide Life Term Rider provides for additional protection in case of demise.
You save tax# on premiums paid under section 80C; on income payout and
maturity amount under section 10(10D); premiums paid towards critical illness
rider under section 80D of Income Tax Act 1961.
#Tax benefits are subject to change in income tax laws as amended from time to time.
This plan rewards you with a premium discount of up to 6%, if you choose to
pay higher premium amount. This also results in an increase in the Basic Sum
Assured which in turn increases your annual income payouts.
|Premium Payment Term ||Discount as a % of Annualized Premium |
|Upto ₹47,999 ||₹48,000 to ₹95,999 ||₹96,000 & Above |
|8 Years ||NIL ||1% ||2% |
|12 years ||NIL ||1% ||4% |
|15 years ||NIL ||2% ||6% |
The bonus track record over the last 5 years to our policy holders on some of
our existing plans are as stated below:
|Product ||Bonus* Rates (p.a.) as % of Sum Assured |
|2015 ||2014 ||2013 ||2012 ||2011 |
|Exide Life New Fulfilling Life |
Anticipated Whole Life Plan
|7.50% ||7.50% ||7.50% ||7.50% ||7.50% |
|Exide Life Secured Income Insurance Plus |
|7% ||7% ||7% ||7% ||NA |
* Simple Reversionary Bonus