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What is Exide Life Mera Aashirvad?

Exide Life Mera Aashirvad is a child insurance plan that guarantees you the money you need to fulfill your child’s dreams. Your child is assured of the required financial support to fulfill his/her dreams, even if you are not there.

4 Reasons to buy this plan

1 Guaranteed Life Cover
2 Waiver of Premium
3 Guaranteed Tax Free Maturity Benefit
4 Flexibility to Receive Periodic Payouts

Key Benefits

1. Guaranteed Life Cover
In case of an unfortunate event, your family gets a guaranteed pay out immediately which will be highest of following:
- 10 times the annual premium
- 105% of the premiums paid.
- Sum Assured
2. Waiver of Premium in case of an unfortunate event
In this plan all the future premiums are waived off in case of an unfortunate event and policy continues till maturity. This takes away the burden of the premium payment from your family.
3. Guaranteed Tax Free Maturity Benefit
Whatever amount you plan for fulfilling your child’s dreams, you are guaranteed of that amount as sum assured on policy maturity. The sum assured is paid tax free without any deductions.

You save tax on premiums paid under section 80C and on benefit amounts under section 10(10D) of the Income Tax Act.
4. Flexibility to receive Periodic Payouts
You have two flexible options to receive the sum assured on maturity:
Option A – In 5 Periodic Payouts In this option, sum assured is paid in 5 installments spread over last 5 years till the policy maturity, as shown in the illustration below. This ensures a spread out payouts over years towards fulfillment of your child’s dreams.

Exide Life - Child Insurance Life Policy
Option B – Lump sum Payment: You can opt to receive the maturity benefit as a lump sum at the end of the policy term. With this option, you get 5% extra payout i.e. 105% of the Sum Assured is paid on maturity.

How this plan works?

30 year old Arun has a 1 year old daughter and wants to save ₹10 Lacs for her higher education. He saves ₹53,943 p.a. in Exide Life Mera Aashirvad for 12 years. He opts for lump sum payout. However he unfortunately meets with an accident in 5th policy year and does not survive. Exide Life Mera Aashirvad offers following financial benefits to the family:

Premium mentioned is exclusive of service tax

Key Features

Min / Max Entry Age

For Parent: 21 – 50 years
For child: 0 – 15 years

Premium Paying Term (PPT) – Linked to child age

 

Age of the child (yrs) PPT allowed (yrs)
0 13 - 20
1 12 - 20
2 11 - 20
3-15 10 - 20

The child has to be minimum 18 years on the date of maturity

Policy Term

PPT + 5 years

Minimum Sum Assured

For PPT (10-14) years :- ₹3,50,000
For PPT (15-20) years : ₹4,50,000

Maximum Sum Assured

No limit (subject to Underwriting)

Guaranteed Life Cover

Highest of following:

- 10 times the annual premium
- Sum Assured
- 105% of premiums paid

Disclaimer:
Exide Life Mera Aashirvad UIN: 114N068V01. For more details on risk factors, terms and conditions, please read the sales brochure of the product carefully before concluding a sale. Tax benefits are subject to change in tax laws from time to time. URN: EXL/ONLINE/2014/136
Exide Life Mera Aashirvad - Child Future Insurance Plan
Who Should Buy child insurance plans
Who should buy?
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Who should buy?

This plan is suitable for you if you want to guarantee financial help to your child for fulfilling his / her dreams. You can invest in this if you are in age band of 21 – 50 yrs and you have a child of up to 15 years of age.

Key Features of children insurance
Key Features
What is Exide Life Mera Aashirvad?

Exide Life Mera Aashirvad is a child insurance plan that guarantees you the money >>

(UIN:114N068V01)
Key Benefits of child insurance plans
Key Benefits
How does children insurance plan works
How this plan works?
4 Reasons
to buy this plan
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