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Exide Elite Term Insurance Benefits

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Highlights
Claim Settlement Ratio98.54%
Customer Care9:00 AM to 7:00 PM
Death Benefit Paid For3,404 Policies
Inception2001
Presence200+ Offices
Total Death Benefit PaidRs. 88.95 Crore

Exide Life Elite Term Insurance Plan Benefits

Below mentioned are the benefits that you can avail under Exide Life Elite Term Insurance plan:

1. Death Benefits: Under Exide Life Elite Term Insurance plan a death benefit is provided to the nominee in case of an unfortunate demise of the life assured during the policy tenure. This plan provides financial security to the family of the life assured in case of life assured’s unforeseen demise. The death benefit can help the family of the life assured to fulfill their daily financial requirements and goals.

2. Multiple Death Benefit Payout Options: Exide Life Elite Term Insurance plan offers multiple death benefit payout options namely Lump Sum, Family Income Payout and Lump Sum with Family Income Benefits. Family Income Payout option provides 1.07% of the death benefit to the nominee over 120 months from the date of demise of the life assured. Under the Lump Sum with Family Income payout option the nominee can choose to receive the death benefit as 50% lump sum and 0.95% of the death benefit every month for 60 months after the date of demise of the life assured.

3. Flexibility to Extend the Policy Term: Under Exide Life Elite Term Insurance plan you get the flexibility to extend the policy tenure by 5 or 10 years. You can choose to extend your policy term according to your requirements and budget.

4. High Coverage at an Affordable Price: Exide Life Elite Term Insurance plans provide high coverage at an affordable price. Premiums for Exide Life Elite Term Insurance plan offers attractive premium rates for women and non-smokers.

5. Tax Benefits: Under Exide Life Elite Term Insurance plan you can avail tax benefits as per tax laws under Section 80C and 10(10D) of the Income Tax Act, 1961. The death benefit receivable under this plan is also eligible for tax exemptions under the Income Tax Act, 1961.

Key Inclusions and Exclusions of the Plan

What's Included

  • Unforeseen demise of the life assured
  • Accidental death
  • Accidental disability and dismemberment
  • Critical Illness

What's Not Included

  • Exide Life Elite Term Insurance plan does not cover death due to suicide. In case the life assured passes by commiting suicide within first 12 months from the date of policy issuance, the nominee shall receive 80% of the total premium paid till the date of life assured’s demise.

FAQs on Elite Term Insurance Plan Health Insurance Plan

  • Why should I purchase an Exide Life Elite Term Insurance plan?

    Exide Life Elite Term Insurance plan is a pure protection plan which provides life cover and financial security to the family of life assured in case an unforeseen event takes place. This plan has multiple death benefit payout options and allows the extension of the policy term by 5 or 10 years.

  • Is a policy loan available under the Exide Life Elite Term Insurance plan?

    No, policy loans are not available under the Exide Life Elite Term Insurance plan.

  • What is the policy extension benefit under the Exide Life Elite Term Insurance plan?

    Under this option the life assured can choose to extend the policy term by 5 or 10 years according to his/her coverage requirement and budget.

  • Is suicide covered under the Exide Life Elite Term Insurance plan?

    No, suicide is not covered under the Exide Life Elite Term Insurance plan, but in case the life assured passes due to committing suicie during the first 12 months of the policy year, the nominee shall be provided with 80% of the total premiums paid. 

  • Can I increase the sum assured of my Exide Life Elite Term Insurance plan?

    Yes, you can increase the sum assured of your Exide Life Elite Term Insurance plan on health improvements during the policy term.

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