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    • Endowment plan your partner for secured future
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Meet Endowment Plans, Your Partner for a Secured Financial Future

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    • There are very few financial products that offer as many benefits as endowment plans
    • These provide you guaranteed maturity benefit, as well as life insurance cover
    • Since endowment policies have a surrender value, they can be mortgaged for availing loans
    • They also offer double tax benefits under Section 80C and 10(10D) of the Income Tax Act
    savings and Investments

    Blending savings and life insurance, an endowment plan is one of the most popular forms of life insurance available in the market. These plans are your passport to a secured financial future in multiple ways. Along with life insurance, endowment plans also offer maturity benefits after the policy term is over. Read on to know more.

    Benefits Galore

    With endowment plans you enjoy benefits of insurance coverage, long-term wealth creation and goal-based savings. You can also use it as a collateral for availing loans.

    • Dual Purpose - Life Cover and Savings

      As a breadwinner for your family, protecting your dependents against financial contingencies + savings for wealth creation for future needs and liabilities might be a priority. An endowment plan helps you address both these goals.

      This form of life insurance fulfills your dual need for life cover and savings. In case of the unfortunate demise of the policyholder during the policy period, their beneficiaries get the sum assured. On the other hand, if you survive the policy period, you receive a lump sum (maturity benefit).

      In an endowment plan, your insurer utilizes one portion of the premium to offer life insurance and invests the other in safe avenues. The investments accumulate as bonuses which, depending on the policy conditions, can be provided in the form of regular pay-outs or as a lumpsum when the policy matures.

      In case of demise during the policy period, the beneficiary gets the lump sum along with the accumulated bonuses.

    • Experience Peace of Mind with Savings and Assured Benefits

      Savings is a habit and endowment plans help you practice it regularly. This is because these plans require you to pay premiums regularly, thereby helping you build a habit of disciplined savings. As these plans have savings component attached to life cover, the premiums are more than pure term life insurance plans (for the same sum assured).

      Endowment plans protect your family against financial uncertainties, and help you accumulate wealth and build an alternate source of income. One variant of these products also have money back feature that lets you receive periodic pay-outs at pre-defined intervals. These can come handy to meet the short-term goals.

    • Avail Loan Against Policy

      Your endowment policy not only acts as a saving and life insurance tool, but can also be mortgaged to secure a loan. Since it has a surrender value, you can present it as a collateral while applying for loans from banks.

      The loan amount depends on the surrender value of the policy, the number of premiums paid and the number of completed years. The higher the surrender value, the higher is the loan amount.

    Tax Benefits

    Your endowment policy also offers double tax benefits. Under section 80C of the Income Tax Act, you get tax benefits on the annual premium paid up to a limit of 1.5 lacs. Also the maturity proceeds received from the policy is tax free under section 10(10D).

    Thus, with endowment plans, you enjoy benefits of life insurance coverage, long-term wealth creation and goal-based savings. These plans are your saviour during financial contingencies and help you tide tough times with ease.

    Endowment plans from Exide Life such as Exide Life My Money Back Plan and Exide Life Income Advantage Plan can help you make the most of your income and savings and protect you against financial uncertainties by accumulating wealth and offering life insurance.

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    Exide Life Insurance brings to you a new class of endowment plans under the bouquet “Exide Life Secured Income Insurance Plans”.

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    IRDAI notice : Beware of Spurious/ Fraud Phone Calls: IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

    Exide Life Insurance Company Limited.
    IRDAI Registration Number: 114, CIN:U66010KA2000PLC028273
    Registered Office: 3rd Floor, JP Techno Park, No. 3/1, Millers Road, Bangalore- 560 001, India.
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