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Exide Life Star Saver Plan

What is the Plan all About?

Exide Life Star Saver is a limited premium savings plus insurance plan that provides guaranteed benefits that ensures your financial goals are met with ease. This plan also provides life cover, so your family’s financial security is ensured as well.


What are the Key Features?

  • Guaranteed tax-free maturity benefits
  • Get guaranteed additions & loyalty benefit
  • Premium payment for 5 years and life cover for the entire policy term
  • Double protection in case of accidental death
  • Choose rider(s) to enhance coverage
  • Avail tax benefits

What are the Plan Benefits?

Death Benefit

    In case of unfortunate demise of the life insured, Sum Assured on Death, Accrued Guaranteed Additions, & additional accidental Death Benefit in the event of death due to accident. Sum Assured on Death is higher of 105% of total premiums paid, Sum Assured on Maturity, or multiple of Annualized Premium. Here, multiple of Annualized Premium is 7/10 times of annualized premium, in case the entry age is less than or equal to 50 years/51 years & above, respectively.

    Additional Accidental Death Benefit is the total of Sum Assured on Death plus Guaranteed Additions (on the date of death).

Maturity Benefit

    If the life insured survives till completion of the policy term, the guaranteed maturity benefit equal to Sum Assured on Maturity plus Guaranteed Additions plus Loyalty Benefit.

Guaranteed Additions

    Guaranteed Additions are a percentage of the sum assured on maturity. Guaranteed Additions are calculated at simple rate on completion of each policy year. It is accrued throughout the policy term and is payable on death/maturity/surrender.

Loyalty Benefit

    The loyalty benefit is payable on completion of the policy term. This benefit is a percentage of the sum assured, as applicable under the policy.

Loan Benefit

    Loan can be availed up to 80% of the available surrender value. The loan amount cannot be less than Rs 1,000. The rate of interest towards the loan amount is 10% per annum compounded semi-annually.

Surrender Value

    Surrender Value is higher of Special Surrender Value or Guaranteed Surrender Value. Surrender Value is acquired on payment of all due premiums for at least 2 full policy years.

Tax Benefit

    Enjoy tax benefits towards premiums paid under section 80C, premiums paid for the critical illness rider under section 80D, & maturity proceeds under section 10 (10D) of the IT Act, 1961.

Who can Buy the Plan?

Factor Minimum Maximum
Age (as on last birthday) 8 Years (policy Term-10 Years), 6 Years (policy Term-12 Years), 3 Years (policy Term-15 Years) 60 Years
Age at Maturity 18 Years 75 Years
Policy Tenure 10/12 Years 15 Years
Premium Paying Term 5 Years -
Premium Paying Mode Annually Only -
Premium Amount Rs 24,000 No Limit (subject To Underwriting)
Sum Assured Rs 76,220 No Limit (subject To Underwriting)
Freelook Period 15 Days/30 Days (for Distance Marketing Channel) From The Receipt Of The Policy -
Grace Period 30 Days -
Plan Type Offline -

Is any Rider Available with this Plan?

Exide Life Critical Illness Rider & Exide Life Term Rider are available under this plan.

How the Plan Works?

Rakesh buys Exide Life Star Saver with the policy term of 15 years, chooses sum assured of Rs 3,60,000 with an annual premium of Rs 36,000. With this plan, he is able to fulfill different financial goals.

Case I: In the event of his survival on the maturity of the policy, he receives Guaranteed Sum Assured on Maturity of Rs 1,37,620 plus Guaranteed Additions of Rs 1,44,501 plus Loyalty Benefit of Rs 20,643.

Case II: In case of unfortunate demise of Rakesh, his family will receive the Sum Assured on Death of Rs 3,60,000 plus Accrued Guaranteed Additions (till date of death).

Exide Life Star Saver