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Exide Life - My Term Insurance Plan

About The Plan

Exide Life My Term Insurance' is an innovative pure protection life insurance plan from Exide Life Insurance. It allows you to design and guarantee financial protection for your loved ones. 'Exide Life My Term Insurance' offers some unique features and benefits:

(A) Family Income Benefit: In this option your family will be provided with regular monthly income along with a fixed lump sum on death.

(B) Flexible premium payment option: In this plan you can choose to pay regular premiums (premium payment term is the same as policy term) or for a limited period (5, 7 or 10 years) as per your convenience.

(C) Choose your policy term: You can choose a policy term ranging from 10 to 35 years.

Under the plan, you have flexibility to choose death benefit option at the time of the policy inception. You can change the death benefit option selected at any time during the policy term. The policyholder has the flexibility to change the proportion selected at any time during the policy term. The policyholder has to intimate the company at least two months prior to policy anniversary and the change will be effective from the next policy anniversary. The monthly installments will be paid to the nominee/legal heir.

Key Features

Full Sum Assured on death under basic death benefit.

Family income benefit.

Premium discount on limited pay.

Preferencial rate for being a non-smoker.

Premium discount for female lives & on high sum assured.

Terminal illness benefit.

Option to enhance protection by adding riders for life, accident and health.

Premium payment frequency: Equal to policy term (Regular Pay), 5 or 7 or 10 years (Limited Pay).

Premium Payment Mode: Annual, Monthly.

Minimum Sum Assured Rs. 25 lac, maximum- 25 Crore (subject to underwriting).

Tax benefit u/s 80C & 10(10D) of the Income Tax Act, 1961.

Eligibility Criteria

  • Minimum sum assured is 25 lakhs & maximum sum assured is 2500
  • Minimum entry age is 18 years & maximum entry age is 65 years
  • Minimum policy term is 10 years & maximum policy term is 40 years
  • Premium payment mode is Monthly,Yearly
  • Maturity benefits are Nil
  • Grace period is 15 days
  • Yes, under Section 80C & 10(10D) of the Income Tax Act, 1961

Premiums

Note: The above illustration of premium is for a 35 year old, non-tobacco user healthy male for sum assured of Rs. 1 Crore. Hence, this is an illustration, the actual premium may vary.  Note: The above illustration of premium is for a 35 year old, non-tobacco user healthy male for sum assured of Rs. 1 Crore. Hence, this is an illustration, the actual premium may vary.