Exide Life Elite Term Insurance Plan offers large sum assured at an affordable premium to help you build a strong financial foundation for one’s family. Not only this, it also rewards its customers for leading a healthy life during the policy period.
4 Reasons to Buy Exide Life Elite Term Plan
- An extensive amount of Life Cover at reasonable premium rates.
- Increased sum assured for policyholders with a healthy lifestyle (at no extra cost).
- Family Income Benefit Option for 5 or 10 years.
- Term Extension Option for 5 or 10 years.
Exide Life Elite Term Plan Product Snapshot:
|Entry Age||21 years||60 years|
|Maturity Age||–||70 years as per last birthday,|
80 years (If extended term opted for)
|Policy Term||Single Premium: 5 years|
Regular Premium: 10 years
Extended Term: 5/10 years
(No premiums payable during extended policy term)
|Single Premium: 35 years|
Regular Premium: 35 years
|Premium Payment Term (PPT)||Single Pay: One time||Regular Pay: Same as Policy Term|
|Sum Assured||Rs. 50 Lakhs (online mode)|
Rs. 2 Crore (offline mode)
|Mode of Premium||Annual|
Benefits of Exide Life Elite Term Insurance Plan in Detail:
An extensive amount of Life Cover at reasonable premium rates
- The buyer needs to undergo a pre-medical test to buy this plan. If his/her pre-medical test comes favourable according to the company’s underwriting guidelines, he/she may be offered with Super Elite Premium Rates.
- If the insurance buyer is a non-smoker, he/she will be eligible to get preferential premium rates.
- Further premium discounts are offered if the buyer chooses a sum assured of Rs. 5 crore & above.
- Female applicants get to purchase this plan at further reduced premium rates.
Increased sum assured for policyholders with a healthy lifestyle (at no extra cost)
During the policy period, the insured will get another chance to avail the company’s Super Elite Premium Rates once again if he/she was eligible for these premium rates at the time of buying the policy.
Once the policyholder has completed 25 months into the plan, he/she can appear for medical tests at the company’s cost. If the result comes to be favourable as per the company’s terms & conditions, his/her life cover will be further increased at no extra cost. The changes will be applicable from the 4th policy year onwards.
Family Income Benefit Option (of 5/10 years):
This plan gives 3 different options to choose from when it comes to receiving cash payouts:
|Payout Option||Pay-Out Receiving Mode||Illustration (Rs. 2 crore)|
|Lump sum Payout||100% sum assured paid in a single go||Rs. 2 crores as a whole|
|Lump sum Payout||50% the sum assured paid as a lump sum and for the next 5 years (60 months), 0.95% of the sum assured paid every month||Rs. 1 crore as lump sum + Rs 1.9 lakh/month for 5 years (60 months)|
|Family Income Benefit (FIB)||1.07% of the sum assured paid every month for 10 years (120 months )||Rs 2.14 lakhs/month for 10 years (120 months)|
Term Extension Option (for 5 or 10 years):
Under Exide Life Elite Term Insurance Plan, the policyholder gets the option to increase his/her policy period/term by 5 or 10 years. He/she can avail of this option by paying a higher premium at the time of buying the policy. It wouldn’t affect the premium payment term.