You can choose from 3 plan options to suit the desired protection
a. Classic Protection with return of premium
Under this option, you pay for a chosen Life Cover and on completion of policy term an amount equal to 100% of annual premiums paid by you is returned. In the event of demise, the chosen life cover is paid to your family.
b. Step-up: Protection with higher return of premium
Under this option, you pay for a chosen Life Cover and on completion of policy term an amount up to 150% of annual premiums paid by you is returned. This payout depends on the policy term chosen by you (See Table below). In the event of demise, the chosen life cover is paid to your family.
|Policy Term |
|10 - 14 years ||15 - 19 years ||20 - 24 years ||25 - 29 years ||30 years |
|Return of Premium ||110% ||120% ||130% ||140% ||150% |
c. Comprehensive: Enhanced protection with return of premium.
Under this option, you choose a Life cover under Classic variant for which you pay an annual premium over the chosen policy term. In addition, you can add a higher Life Cover to the base cover by paying a nominal additional annual premium. On completion of policy term, an amount equal to 100% of annual premiums paid by you under Classic variant is returned to you.
In the event of demise, the total life cover chosen under the classic variant plus the additional life cover is paid to your family.
Under this plan you have to choose the option at policy inception. Once chosen, option cannot be changed during the policy term.
You have the flexibility to choose your premium payment term. You can choose to pay over the entire policy term (Regular Pay) or pay for a shorter duration (Single / 5 Pay) while being covered for the full policy term.
|Variant ||Regular Pay ||5 Pay ||Single Pay |
|classic ||☑ ||☑ ||☑ |
|Step-up ||☑ ||☑ ||Not Available |
|Comprehensive ||☑ ||Not Available ||☑ |
You can enhance the overall protection 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 any eventuality caused by an 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.
Under this plan you save Tax# on
- Premiums paid under section 80C
- Life Insurance Cover amount and premium refund under section 10 (10D)
- Premiums paid towards Critical Illness Rider under section 80D
# Tax benefits are subject to change in income tax laws as amended from time to time