Exide Life Secured Income Insurance Plus Plan

Death Benefit

In case of unfortunate death of the life insured, the death benefit is Guaranteed Death Benefit + Vested Bonus + Terminal Bonus. Death benefit under this plan is not less than 105% of total premiums paid (as on the date of death).
 

Guaranteed Death Benefit is higher of Sum Assured or 10 times of the annualized premium. You can choose from the following two options to receive Guaranteed Death Benefit.
 

Option A: 100% Guaranteed Death Benefit is payable as lumpsum.
 

Option B Option: Guaranteed Death Benefit plus family income benefit is payable. 50% of Guaranteed Death Benefit payable is payable as lumpsum and an assured monthly income for the next 5 years.
 

Family Income Benefit: If you choose option B, 60% of Guaranteed Death Benefit is payable in equal installments for a period of 60 months. This benefit starts immediately on the death of the life insured. Family income benefit is not applicable for option A.

Maturity Benefit

Sum assured plus 10% of Sum Assured plus vested bonus plus terminal bonus is payable as maturity benefit, subject to a minimum of 105% of the total premiums paid.

Bonus

Simple reversionary bonus is declared as a percentage of the sum assured and it is payable at maturity or death, whichever occurs earlier. Terminal bonus is declared from 10^th policy year onwards at death or maturity.

Loan Benefit

Loan benefit can be availed, as the policy acquires the surrender value.

Surrender Value

The surrender Value is higher of the Guaranteed Surrender Value or Special Surrender Value, after deducting loans under the policy. The surrender value is acquired after paying all due premiums for 1 full policy year and it is payable on surrender or at the end of the second policy year, whichever occurs later.

Tax Benefit

Tax benefits towards the premiums paid under section 80C, the premium paid for critical illness rider under section 80D, & maturity proceeds under section 10 (10D) of the Income Tax Act, subject to prevailing tax laws.

Following riders can be availed with this plan

• Exide Life Critical Illness (4),
• Exide Life Term Rider,
• Exide Life Critical Illness (25)
• Exide Life Accidental Death Disability and Dismemberment Rider.

It is just an illustration of how your money could grow with Exide Life Secured Income Insurance Plus.