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Tuesday, July 12, 2016

Exide Life Insurance - Exide Life Smart Term Plan

Exide Life Insurance announces the launch of Exide Life Smart Term Plan

A unique life insurance plan that offers you comprehensive life cover and returns the premiums paid by you on completion of policy term.

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. 

Exide Life Insurance: Exide Life Smart Term Plan



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.


Let’s see how the Comprehensive Variant can work for you:  Assume the age of life assured is 35 years who is looking for a INR 10,000,000/- life cover for a 20 year policy term.
Age
35 years male
Smoker / Non-smoker
Non-smoker
Plan
Comprehensive Variant
Term
20 years
Premium Paying Term
20 years
Sum Assured
INR 10,00,000/- (Classic variant) and
INR 90,00,000/- (Additional cover)
Base Premium Payable
INR 13,775/- p.a. (exclusive of service tax)
Guaranteed Maturity Benefit
INR 1,15,960/-

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.

About Exide Life Insurance
Exide Life Insurance Company Limited, an established and profitable life insurance company, commenced operations in 2001-02 and is head quartered in Bengaluru. The company is 100% owned by Exide Industries Limited. The company serves over 15 lakh customers and manages assets of over INR 9500 Crores. During the financial year 2015-16, the company achieved total Premium Income of over INR 2000 crores.

Exide Life Insurance distributes its products through multi-channels viz. Agency, Banc assurance, Corporate Agency & Broking as well as Direct Channels. The Agency channel comprises of 50,000 advisors who are attached to over 200 company offices across the country. The company also offers group life insurance solutions.

The company is focused on providing long term protection and savings solution plans and has a strong traditional product portfolio with a consistent bonus track record. The company has ISO 9001:2008 quality certification for all Customer Service processes.

About Exide Industries Limited

Exide is India’s largest manufacturer of electric storage batteries and its biggest power-storage solutions provider with a market capitalization of over INR 11,600 crores*. Since its introduction in India more than a hundred years ago, Exide remains the foremost and the most trusted battery brand in India. The century old brand equity is backed by a robust nation-wide network of 16000 plus dealers. (*As on 31st March 2016) With 7 world-class battery manufacturing factories across India, the range of products offered by the company covers everything from the smallest batteries required in motorcycles to the giant batteries powering submarines. After all, India moves on Exide.

For more information, please visit our website, exidelife.in.

Media Contacts: Shwetha Guru: shwetha.guru@exidelife.in




Vishnu Ram

Associate Director

hkstrategies

vishnu.ram@hkstrategies.com

D : +91 98412 55885

Exide Life Insurance - Exide Life Smart Term Plan Reviewed by S. Chitra on July 12, 2016 Rating: 5 Exide Life Insurance announces the launch of Exide Life Smart Term Plan A unique life insurance plan that offers you comprehensive li...

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