What is 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.

 

In today’s day and age, when you are being smart about everything around you, how about a Term Plan that’s also smart ? Presenting Exide Life Smart Term Plan, a unique plan that offers you comprehensive protection options and returns the premiums paid by you on completion of policy term.

 

Key Benefits

 

1. 3 plan option to suit your protection needs.
 
 

You can choose from 3 plan options to suit the desired protection

 

a. Classic Protection with return of premium

 

Under this option, you 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. In the event of demise, the chosen life cover is paid to your family.

 

b. Step-up: Protection with higher return of premium

 

Under this option, you 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. This payout depends on the policy term chosen by you (See Table below). In the event of demise, the chosen life cover is paid to your family.

 

Policy Term 
(Years)
10 – 14 years 15 – 19 years 20 – 24 years 25 – 29 years 30 years
Return of Premium 110% 120% 130% 140% 150%

c. Comprehensive: Enhanced protection with return of premium.

 

Under this option, you choose a Life cover under Classic variant for which you pay an annual premium over the chosen policy term. In addition, you can add a higher Life Cover to the base cover by paying a nominal additional annual premium. On completion of policy term, an amount equal to 100% of annual premiums paid by you under Classic variant is returned to you.

In the event of demise, the total life cover chosen under the classic variant plus the additional life cover is paid to your family.

 

How this plan works?

 

Illustration 1- Classic Variant

 

Sudhakar, a 35 year old business man chooses Exide Life Smart Term Plan – Classic variant. He chooses 50 Lacs life cover under the plan for a term of 20 years.

 

Illustration 2- Step- Up Variant

 

Ashok, a 40 year old Provision store owner chooses Exide Life Smart Term Plan – Step-up variant. He chooses 50 Lacs cover under the plan for a policy term of 20 years.

 

Illustration 3 – Comprehensive Variant

 

Rohan, a 35 year old businessman chooses Exide Life Smart Term Plan – Comprehensive variant. He chooses 25 Lacs under Classic cover & 25 Lacs under Extra Protection cover under the plan for 25 years.

 

Who should buy?

 

This plan is suitable to you, if you are looking for a life insurance cover for protecting your family and also receive return of premiums on policy maturity.

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