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Retirement Plan And Investments Child Plans Child Investment Plans

What are Exide Life New Creating Life Insurance Plans?

Exide Life Insurance brings you a new class of child insurance plans under the bouquet “Exide Life New Creating Life Insurance Plans”. These plans are designed to offer financial security for your children’s goals, even if you are not there.

Under this bouquet, you can choose from two plans:

Exide Life New Creating Life Insurance Plus

A plan in which by paying for just few years, you ensure that on policy maturity, your child gets sum assured with 10% guaranteed addition along with accrued bonuses, if any. In case of any unfortunate event, all future premiums are waived off and your family can receive life cover not only in lump sum but also as income for family for 60 months

Exide Life New Creating Life Insurance Regular Pay

A plan in which you pay regularly over the full policy term and ensure your child gets sum assured along with accrued bonuses, if any. In case of any unfortunate event, all future premiums are waived off and your family can receive life cover not only in lump sum but also as income for family for 60 months.

4 Reasons to buy this plan

1 Tax Free Returns
2 Life Cover with Family Income Benefit
3 Waiver of premium
4 Limited Pay Option

Key Benefits

1. Tax Free Returns to secure your child’s career
On maturity your child gets a tax free amount which is equal to sum assured and bonuses (if any) accumulated over the policy term.
( Sum Assured + Annual Bonuses, if any + Terminal Bonus, if any + 10% of Sum Assured as Guaranteed Addition*)

*Only with Exide Life New Creating Life Insurance Plus
2. Life Cover with Family Income Benefit Option
In case of an unfortunate event, your family will be paid a Sum Assured on Death which will be higher of the following:
- 10 times the Annualized Premium
- Base Sum Assured
In this plan, life cover is never lesser than 105% of the Premiums Paid.

Family Income Benefit Option: You have the option to receive a part of the life cover as Family Income Benefit. In this case your family will receive 50% of the Sum Assured on Death amount as lump sum and 1% of the same will be paid as monthly income spread over 60 months.
(110% of Sum Assured on Death | 60 months )
3. Waiver of premium
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.
4. Flexibility to choose from Limited and Regular Pay options
Based on your income and financial plan, you can choose to pay regularly over the policy term or pay for limited numbers of years (5/7/10 years) while the plan continues for the chosen policy term.
5. Discount for High Premiums
These plans reward you with a premium discount if you pay higher premiums. The applicable premiums slabs and discount rates are mentioned below:
Discount rate Annualized Premium Range(₹)
Exide Life New Creating Life Insurance Plus Exide Life New Creating Life Insurance Regular Pay
0% Less than 48,000 Less than 24,000
3% 48,000 to less than 60,000 24,000 to less than 48,000
4% 60,000 to less than 72,000 48,000 to less than 60,000
6% 72,000 and above 60,000 and above
6. Option for enhanced protection
You have the option to enhance your protection further at a nominal cost by adding riders for Accident and Health.

How this plan works?

Exide Life New Creating Life Insurance Plus

30 year old Diwakar has a 1 year old daughter and wants to save ₹15,00,000 for her higher education. He saves ₹1,00,000 for 10 years while the plan continues for 20 years. He gets a sum assured of ₹8,35,676. He opts for Family Income Benefit as life cover payout option.

Retirement Plan And Investments Child Plans Child Investment Plans

#Maturity Value assuming an investment return of 8% p.a. and 4% p.a. Premium mentioned are exclusive of service tax.

Exide Life New Creating Life Insurance Regular Pay

30 year old Suresh has a 2 year old son and wants to save ₹20,00,000 for his higher education. He saves ₹50,000 for 25 years and gets a sum assured of ₹10,49,322. He opts for Family Income Benefit as life cover payout option.

NEW CREATING LIFE_INSURANCE And Investments Child Plans Child Investment Plans

#Maturity Value assuming an investment return of 8% p.a. and 4% p.a. Premium mentioned are exclusive of service tax.

Key Features

Feature Exide Life New Creating Life Insurance Plus Exide Life New Creating Life Insurance Regular Pay
Minimum / Maximum Age at Entry (Parent) 18 years – 45 years 18 years – 45 years
Maximum Age at Maturity (Parent) 60 years 60 years
Minimum / Maximum Age at Entry (Child) 0 years – 17 years 0 years – 17 years
Premium Paying Term (PPT) 5, 7 or 10 years 15-25 years
Policy Term (years) For PPT 5 yrs: 10 – 20 years
For PPT 7: 12 – 20 years
For PPT 10: 15 – 20 years
Equal to PPT
Minimum Annual Premium (₹) For PPT 5 yrs: ₹36,000 p.a.
For PPT 7 yrs: ₹24,000 p.a.
For PPT 10 yrs: ₹18,000 p.a.
₹12000 p.a.
Waiver of Premium Yes Yes
Modes of Premium payment Annual, Monthly Annual, Monthly
Guaranteed addition of 10% of Sum Assured on maturity Yes No
*Exide Life New Creating Life Insurance Plus UIN: 114N071V01; Exide Life New Creating Life Insurance Regular Pay UIN: 114N072V01. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale; Tax benefits are subject to change in tax laws from time to time. Bonus rates for future years are not guaranteed are subject to the performance of the fund.

Exide Life Insurance Company Limited (Formerly known as ING Vysya Life Insurance Company Limited), IRDA Registration Number: 114, CIN: U66010KA2000PLC028273. Registered Office: 3rd Floor, JP Techno Park, No. 3/1, Millers Road, Bangalore- 560 001, India. Toll Free: 1800 419 8228; Phone: 080 – 25328000; Visit exidelife.in URN: EXL/ONLINE/2014/137
Child Plans 
who should buy
Who should buy?
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Who should buy?

This plan is suited for those who want to build savings securely for their child’s career and want to ensure planned financial help for their loved ones in case of an unfortunate eventuality.
Key Features
Key Features
4 Reasons
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