On staying invested for a chosen policy term, you get a tax free guaranteed lump sum amount on maturity, which is paid to you as a combination of:
Sum Assured on Maturity + Accrued Guaranteed Additions + Loyalty Benefit
Sum Assured on Maturity is a guaranteed amount equal to basic sum assured, which is paid to you at the end of a chosen policy term after you have completely paid the required premium amount as and when due. Basic sum assured is calculated based on your age, policy term and the annual premium paid.
Guaranteed Additions are credited to your policy at the end of each policy year and are calculated as a percentage of Sum Assured on Maturity (see table below). These are accrued over the entire policy term and paid to you at the end of the policy term.
If you pay an Annual Premium of
You get Guaranteed Additions (as % of Sum Assured on Maturity)
| 24,000 to 59,999
| 60,000 to 1,79,999
| 1,80,000 and above
Loyalty Benefit is a special benefit paid to you as a percentage of sum assured on maturity if you have paid all applicable premium amounts and stay till the end of your policy term.
If your Policy Term (in years) is
You get a Loyalty Benefit of (as % of Sum Assured on Maturity)
* As per applicable income tax laws
While you pay premium only for 5 years, you enjoy Life Cover over the entire policy term. This ensures financial protection for your family in case of an unfortunate event where a lump sum amount is paid to your family.
(Sum Assured on Maturity or 10 times* the annual premium or 105% of the total premiums paid)
Accrued Guaranteed Additions
* For entry age of 51 years and above, 7 times the annual premium applicable
In addition to Life Cover amount, you also get additional life cover of an equivalent
amount in case of an unforeseen event due to an accident. (Conditions apply)
You can increase your protection levels under this plan by opting for riders by paying
a nominal additional premium. You can attach the following riders at time of purchase:
- 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.
- Exide Life Term Rider provides for additional protection in case of an unfortunate event.
You enjoy tax benefits# on premiums paid under section 80C, on maturity benefit
under section 10(10D) and premiums paid towards critical illness rider under section
80D of the Income Tax Act, 1961.
#For entry age of 51 years and above, certain tax benefits may be limited