Exide Life Secured Income Insurance RP 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 10 times of annualized premium or Sum Assured. 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. 50% of Guaranteed Death Benefit payable is payable as lumpsum and an assured monthly income for the next 5 years.
 

If you choose option B, 60% of Guaranteed Death Benefit (as Family Income Benefit) is payable in equal installments for a period of 60 months. This benefit starts immediately on the death of the life insured.

Maturity Benefit

Maturity benefit equal to sum assured plus vested bonus plus terminal bonus (if any), is payable. This benefit is not less than 105% of all the 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 at maturity or death.

Loan Benefit

Loan is available (as applicable), once the policy attains the surrender value.

Surrender Value

Surrender Value is higher of the Guaranteed Surrender Value or Special Surrender Value, after deduction of any loan under the policy. Surrender value is acquired after payment of 1 full policy years’ premiums and it is payable on surrender or at the end of the third policy year. The policy terminates on payment of the surrender value.

Tax Benefit

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

Following riders can be availed with this plan

• Exide Life Critical Illness (4) Regular Pay,
• Exide Life Critical Illness (25) Regular Pay,
• Exide Life Accidental Death Disability and Dismemberment Rider,
• Exide Life Term Rider can be opted under this plan.

Given below is a premium illustration of how your money grow when you opt for Exide Life Secured Income Insurance RP.