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

  1. An extensive amount of Life Cover at reasonable premium rates.
  2. Increased sum assured for policyholders with a healthy lifestyle (at no extra cost).
  3. Family Income Benefit Option for 5 or 10 years.
  4. Term Extension Option for 5 or 10 years.

Exide Life Elite Term Plan Product Snapshot:

MinimumMaximum
Entry Age 21 years60 years
Maturity Age70 years as per last birthday,
80 years (If extended term opted for)
Policy TermSingle 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 timeRegular Pay: Same as Policy Term
Sum AssuredRs. 50 Lakhs (online mode)
Rs. 2 Crore (offline mode)
No Limit
Mode of PremiumAnnual

Monthly

Benefits of Exide Life Elite Term Insurance Plan in Detail:

An extensive amount of Life Cover at reasonable premium rates

  1. 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.
  2. If the insurance buyer is a non-smoker, he/she will be eligible to get preferential premium rates.
  3. Further premium discounts are offered if the buyer chooses a sum assured of Rs. 5 crore & above.
  4. 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 OptionPay-Out Receiving ModeIllustration (Rs. 2 crore)
Lump sum Payout100% sum assured paid in a single goRs. 2 crores as a whole
Lump sum Payout50% the sum assured paid as a lump sum and for the next 5 years (60 months), 0.95% of the sum assured paid every monthRs. 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.