Kolkata : Exide Life Insurance, an established and profitable Life Insurance Company, today announced the launch of Exide Life Smart Term Plan.
Building a solid foundation for your family’s financial future is important before you embark on your journey to fulfill your and your family’s dreams. That is where Protection plans or Term Insurance plans step in to provide you and your family a safety net at a nominal annual premium. Why do it the regular way when you have a smarter way to build this financial foundation. That’s where Exide Life Smart Term Plan steps in. This unique plan not only offers a comprehensive life cover but also returns the premiums paid by you on completion of policy term.
3 Smart and flexible ways to build a solid financial foundation
• Classic: Pay for a chosen Life Cover and on completion of policy term an
amount equal to 100% of annual premiums paid by you is returned.
• Step-up: Pay for a chosen Life Cover and on completion of policy term an
amount up to 150% of annual premiums paid by you is returned.
• Comprehensive: Offers enhanced protection with partial return of premium on maturity.
The Comprehensive variant is a very unique feature being offered in the category. Under this variant, you choose to pay premium for life cover under Classic variant for a chosen policy term. In addition you can add a substantial life cover by paying a nominal additional premium. On completion of policy term, an amount equal to 100% of annual premiums paid by you under Classic variant is returned to you on maturity. In the event of demise, the total life cover chosen under the classic variant plus the additional life cover is paid to your family.
You also save tax* on premiums paid under section 80C and on maturity payout under section 10 (10) D. *Tax benefits are subject to change in income tax laws as amended from time to time.
Commenting on the launch, Mr. Sanjay Tiwari, Executive Vice President – Product Management, Exide Life Insurance said, “Our new offering Exide Life Smart Term Plan, has been created keeping the role of a long standing trusted partner that Exide Life Insurance has been playing. This new plan caters to the unique requirement of our customers – protection and money back by offering not one but three smart ways to build a solid financial foundation. The choice of paying the premium as regular, for a limited period or as one time also lies with the customer. The Comprehensive variant under this plan differentiates us in the market place.”
You can also enhance the overall protection by adding Exide Life Accidental Death, Disability and Dismemberment Rider and Exide Life Critical Illness Rider at a nominal additional premium.