Prices Increasing Soon
Exide Life Term with Return of Premium Plan is a comprehensive insurance cover designed to provide life protection at affordable premiums. It also offers the return of premium option for benefits at policy maturity.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
By clicking on "View plans" you agree to our Privacy Policy and Terms of use
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
The features that make Exide Life Term with Return of Premium Plan one of the most economical term insurance solutions are the limited and regular payment options, revival benefit, and reduced payable feature. The policy issuance process is without any hassles as no medical tests are required while buying the policy.
Note: Know more about what is term insurance first before reading this article.
Term Plans
|
Parameters |
Particulars |
||
|
Premium |
Minimum |
Maximum |
|
|
Policy Tenure |
Limited |
10 to 30 years |
30 years |
|
Regular |
12 to 30 years |
||
|
Premium Paying Term |
Limited |
10 to 30 years |
30 years |
|
Regular |
12 to 30 years |
||
|
Sum Assured |
Limited |
Rs.10 lakh |
Rs.25 lakh |
|
Regular |
Rs.5 lakh |
||
|
Premium Payment Frequency |
Annual |
||
|
Loan Facility |
No Loan facility is available under the plan |
||
Secure Your Family Future Today
₹1 CRORE
Term Plan Starting @
Get an online discount of upto 10%#
Compare 40+ plans from 15 Insurers
The Exide Life Term with Return of Premium Plan offers benefits to serve the needs of dependents of the insured. The plan includes a life insurance cover for the policy term. In case of the unfortunate death of the insured, an amount is paid to the nominee, which is equal to the sum assured. At the end of the policy term, the policyholder will receive an amount equal to 100% of the aggregate premium amounts paid during the policy term.
The Sum Assured on Death is determined as highest of -
For both Regular and Limited Premium plans, the multiple of ‘X’ times is determined as follows:
|
Till 44 years |
45 years and above |
|
X = 10 times |
X = 7 times |
Life insurance policies carry significant benefits under the Income Tax Act, 1961. While the death benefit and maturity proceeds are exempt from tax under Section 10 (10D), the total premium paid in a financial year is eligible for deduction under Section 80 C.
“Tax benefit is subject to changes in tax laws. Standard T&C apply.”
In the Exide Life Term with Return of Premium Plan, the policyholder has an option to pay the premium for Limited or Regular duration, which is payable in annual instalments. The amount of premium payable depends on the premium payment option chosen at inception.
Example: Ayush 30 years old, opts for a 30 years policy term with regular premium payment with a Sum Assured of Rs 25 lakhs. The annual premium stands at Rs 13,154and the Guaranteed Surrender Value is Rs 394, 620.
The plan offers the flexibility to choose the number of years you want to pay the premiums. You may choose to pay premiums for the entire Policy tenure (Regular Premium) or 5 years (Limited Premium), as per your preference. A prospective policyholder must refer to the policy brochure before choosing the right premium plan.
No riders are allowed under Exide Life Term with Return of Premium Plan. However, the policy offers few additional benefits such as:
The Exide Life Term with Return of Premium Plan eligibility norms is varied depending on the chosen plan option, i.e., Limited or Regular. The eligibility parameters are:
|
Parameters |
Particulars |
|
|
Minimum |
Maximum |
|
|
Entry Age |
18 years |
50 years |
|
Maturity Age |
28 years |
65 years |
The documents required to buy the Exide Life Term with Return of Premium Plan are a standard requirement. Photocopies of the valid documents need to be submitted. The documents required by the insurer may vary on a case to case basis. The following documents are mandatory:
For buying the policy online, you must fill the proposal form, and upload scanned documents of identity, address, income proofs, etc. Buying term insurance online is a nine-step process as follows:
Before finalizing the purchase of Exide Life Term with Return of Premium Plan policy, it is essential to know about the exclusions to have a hassle-free experience during the time of policy claim. It is advisable to check the policy document for a detailed exclusion list.
Note: Check out the best term insurance plan in India and choose one that suits your requirements.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
Annual Renewable Term Insurance (ATR) is tailored for short-term
Read more
The ICICI Pru iProtect Super Plan is a pure-term insurance plan
Read more
Many people wonder about its tax benefits when purchasing a term
Read more
Studying abroad can be a life-changing experience, offering
Read more
The divide between rural and urban lifestyles in Tamil Nadu is
Read moreInsurance
Calculators
Payment Methods
Secured With
Follow us on
