During the policy term, we will offer you another chance to avail our Super Elite Premium Rates, in case you were eligible for these rates while applying for this policy.
On successful completion of 25 months of your policy, you can undergo medical tests at our cost. If your medical evaluation turns out to be favorable as per our underwriting guidelines, we will increase your policy sum assured. This increase will come to you at no addition premium amount and will be applicable from your 4th policy year onwards.
Let’s understand this with a simple example.
- Ramesh who is 40 years old works with a private firm. Ramesh doesn’t smoke or chew tobacco. He decides to buy Exide Life Elite Term Insurance Plan for a sum assured of ₹2 Crores with a Policy and Premium Payment term of 30 years.
- After undergoing a medical examination, the annual premium that he is required to pay is ₹35,518 for 30 years. If the tests were favorable, he would have been eligible for our Super Elite Premium Rate of ₹32,678
- After completing 25 months, Ramesh avails of the opportunity to undergo another medical examination and this time his medical reports make him eligible for our Super Elite Rates. As a result his sum assured is increased to ₹ 2.18 crores while he continues to pay an annual premium of ₹35,518.
#Premium mentioned above is exclusive of GST. This option is only available for Non-Smokers and is offered between 25th and 37th policy month subject to policy being in force.