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Exide Life Term Rider Plan

It is an add on product that can be attached to select Exide Life Insurance Traditional plans for enhanced life cover at a nominal additional premium.

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Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
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We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
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The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
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In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

Key Features

  • Get up to double life cover
  • Benefit at a nominal additional premium
  • Tax savings on premium and benefit amount

Benefits

  • Get up to double life cover in select Exide Life Insurance Traditional Plans. In case of an eventuality, this amount will be paid in addition to the base plan life cover amount.
  • The enhanced life cover comes at a nominal additional premium.
  • Tax benefits as per prevailing tax laws, which are subject to change from time to time.

Product Specification:

Age at Entry  Minimum : 18 Years  Maximum : 60 Years
Sum Assured  Minimum : ₹50,000/-  Maximum : Lower of ₹50,00,000/- or Sum Assured of the Base  policy
Rider Protection Ceasing Age  Maximum : 70 Years
Rider Term   (Minimum/Maximum) Regular Premium Payment : 5 Years – 40 Years

Policy Details

  • Grace Period: The rider premium will be collected along with the premium of the base policy and the grace period applicable for the base policy will be applicable for the rider premium
  • Maturity/Surrender: This plan offers pure protection benefit and does not offer any maturity or surrender benefits.
  • Free Look Period: You have a period of 30 days from the date of receipt of the Exide Life Term Rider policy document to review the terms and conditions of the riders. If you have any objections to any of the terms and conditions, you have the option to return the rider policy stating the reasons for the objections and you will be entitled to a refund of the rider premium paid after deducting the proportionate risk premium for the period on cover and stamp duty charges (if applicable). If the Rider is attached on a Policy Anniversary the free look provisions as mentioned above will be available to the Rider Policy attached even on a Policy Anniversary.

Exclusions

Suicide Clause

If the life assured commits suicide for any reason, while sane or insane, within one year from the date of commencement of policy or from the date of reinstatement of the lapsed policy, the company will not be liable to pay the benefits under the policy other than what is specified below: Death occurs within one year from policy commencement date or within one year from reinstatement date: 80% of premiums paid, excluding GST, as on the date of death

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