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Exide Life My Money Back Plan - Features, Benefits, Details

Updated On Jul 30, 2021

The Exide Life My Money Back Plan offers a life cover and promised regular payouts. It is a traditional money-back insurance policy offered by Exide Life Insurance Co. Ltd. It pays a part of the sum assured at regular intervals throughout the term. and pays you a sum of bonuses on maturity. Investment returns are pegged to the participating fund's returns as it is a participating plan. 

Benefits of Investing in the Exide Life My Money Back Plan

Listed below are all the benefits you get once you purchase the Exide Life My money back Plan:

  • Reputed Insurer 

It is widely agreed that Exide Life is one of the best and fastest-growing private life insurance companies in India. It's thus an honest idea for you to urge your life cover from this company. They offer a high claim settlement ratio of 96%. They even have a very good customer support team and you will be ready to get all of your doubts cleared. The insurance company is digitally strong too, so it becomes easy for you to buy your plan from them and maintain it too.

  • Huge Life Cover 

A high life cover is provided by The Exide Life My money back Plan. You'll choose the sum assured in accordance with your needs. If you have many dependent relations, you'll choose a stronger cover and vice-versa. Assess your own needs then choose the coverage amount you're feeling would be of greatest use and value to you.

  • Inexpensive 

The Exide Life Money Back Plan offers an inexpensive life cover. As the premium rates are quite affordable, it makes it possible for you to easily own this life insurance policy. The quantity of the cover amount plays a key role in deciding the premium rates during the term of the life cover.

  • Assurance of Timely Payouts 

Since this is often a money-back plan, you get regular payouts from time to time. The payouts are given at predefined time intervals. They assist you alongside your financial management and convince you to be extremely helpful.

  • Maturity Benefit 

You furthermore may get a maturity benefit if you outlive the policy term despite the regular payouts. This is often the advantage of the investment component of this policy.

  • Accidental Benefit 

In the case of the sudden death of the life assured, the nominees will receive the sum assured to be able to financially cover their necessities after you are gone. If the life assured passws away in an accident, their members of the family get another sum assured, referred to as the accidental benefit.

  • Tax Deduction 

The premium you pay towards the Exide Life My a refund Plan is tax-deductible, up to an annual sum of Rs 1,50,000. The supply is out there under Section 80 C of the Indian tax Act.

Conclusion

As you can clearly see from the points mentioned above, the Exide Life My a refund Plan is loaded with features. It is, therefore, an honest idea for you to buy for this a refund life insurance policy. You can make sure your family is taken care of in your absence. You furthermore may get the handy payouts from time to time. It is advisable to buy a plan and make sure you, and your family, are financially secure. 

Also read 

Top Money-Back Plans To Buy In 2021

Who Should Purchase a Money-Back Plan and Why?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.        

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