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What are Exide Life Secured Income Insurance Plans?

Exide Life Insurance brings to you a new class of endowment plans under the bouquet “Exide Life Secured Income Insurance Plans”. These plans are designed to offer security to you and your family in the form of long term benefits, while assuring your family a regular income if anything unfortunate were to happen.

Under this bouquet, you can choose from two plans:

Exide Life Secured Income Insurance Plus

A limited pay plan that offers life cover not only in lump sum but also as income for family for 60 months. On maturity you get sum assured with 10% guaranteed addition along with accrued bonuses, if any.

Exide Life Secured Income Insurance RP

A regular pay plan that offers life cover not only in lump sum but also as income for family for 60 months. On maturity you get sum assured with accrued bonuses, if any.

Who should buy?

This plan is suited for those who want to build savings securely and want to ensure planned financially help their loved once in case of an unfortunate event

This plan is suited for those who don’t want to take much risk with their investments and are willing to save money regularly.

3 Reasons to buy this plan

1 Life Cover with Family Income Benefit
2 Attractive Tax Free Returns
3 Limited Pay Option

Key Benefits

1. Life Cover with Family Income Benefit Option
In case of an unfortunate event, your family will be paid Guaranteed Death Benefit(GDB) amount along with the accumulated bonus in lump sum. GDB amount will be higher of following:
- 10 times the Annual Premium
- 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 GDB as Family Income Benefit. In this case your family will receive 50% of the GDB amount along with the accumulated bonus as a lump sum amount. 60% of the GDB amount will be paid as monthly income spread over 60 months. By choosing FIB, your family gets 10% extra of life cover payout.

(110% of Life Cover | 60 months | Bonuses, if any)
2. Attractive Tax Free Returns
On maturity you get a tax free amount which is equal to sum assured and bonuses 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 Secured Income Insurance Plus
3. Flexibility to choose from limited and regular pay option
Based on your income and financial plan, you can choose to pay for limited numbers of years (5/7/10 years) while the plan continues for the chosen policy term.
4. 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 Secured Income Insurance Plus Secured Income Insurance RP
0% Less than 48,000 Less than 24,000
3% 48,000 to less than 60,000 24,000 to less than 48,000
5% 60,000 to less than 72,000 48,000 to less than 60,000
7% 72,000 and above 60,000 and above
5. Option for enhanced protection
You have the option to enhance your protection further at a nominal cost by adding riders for Life, Accident and Health.

How this plan works?

Exide Life Secured Income Insurance Plus

Chaitanya is 30 years old and invests ₹1,00,000 p.a for 10 years for a sum assured of ₹8,62,000 over a policy term of 20 years. He opts for Family Income Benefit as life cover payout option.

ING Life - Money Back Plan

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

Benefit Illustration

Sample illustration of the product

Age


(Years)
Policy
Term

(Years)
Premium
Payment

Term (Years)
Annual
Premium

(₹)
Sum
Assured

(₹)
Maturity Value
(₹) if fund grows

@ 4%
Maturity Value
(₹) if fund grows

@ 8%
35 25 5 24,000 1,37,356 3,10,768 5,49,424
35 25 7 18,000 1,30,589 2,95,457 5,22,395
35 25 10 12,000 1,11,900 2,53,175 4,47,601

Premium shown is exclusive of service tax

Exide Life Secured Income Insurance RP

Navin is 30 years old and saves ₹50,000 p.a for 10 years for a sum assured of ₹11,13,200 in 25 years. He opts for Family Income Benefit as life cover payout option.

Exide Life Secured Income Online Term Insurance

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

Benefit Illustration

Sample illustration of the product

Age


(Years)
Policy
Term

(Years)
Annual
Premium

(₹)
Sum
Assured

(₹)
Maturity Value
(₹) if fund grows

@ 6%
Maturity Value
(₹) if fund grows

@ 10%
35 25 24,000 4,73,877 9,65,524 14,92,712
35 25 18,000 3,55,408 7,24,144 11,19,534
35 25 12,000 2,36,938 4,82,762 7,46,356

Premium shown is exclusive of service tax

Key Features

Feature Exide Life Secured Income Insurance Plus Exide Life Secured Income Insurance RP
Minimum / Maximum Age at Entry 0 years – 50 years 0 years – 55 years
Minimum / Maximum Age at Maturity 18 Years – 70 years 18 Years – 70 years
Premium Paying Term (PPT) 5, 7 or 10 years 15 – 25 years
Policy Term (years) For PPT 5 years: 10 – 20 years
For PPT 7: 12 – 20 years
For PPT 10: 15 – 20 years
Equal to Premium Payment Term
Minimum 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.
Maximum Premium No Limit (Subject to underwriting) No Limit (Subject to underwriting)
Modes of Premium payment Annual, Monthly Annual, Monthly
Guaranteed addition of 10% of sum assured on maturity Yes No
*Available with Family Income Benefit option of Life cover. Insurance is the subject matter of the solicitation. Exide Life Secured Income Insurance Plus UIN: 114N061V02; Exide Life Secured Income Insurance RP UIN: 114N060V02. 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.

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; Visit exidelife.in URN: EXL/ONLINE/2014/140

Beware of spurious phone calls and fictitious/fraudulent offers: IRDAI clarifies to public that IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums. IRDAI does not announce any bonus, public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.
Assured income for family for 60 months with endowment plans 
Who should buy
Who should buy?
Key Features
Key Features
What are Exide Life Secured Income Insurance Plans?

Exide Life Insurance brings to you a new class of endowment plans >>

(UIN:114N061V02/UIN:114N060V02)
Key Benefits
Key Benefits
How this plan works
How this plan works?
3 Reasons
To buy this plan
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