Exide Life Smart Future Insurance Plan

Exide Life Smart Future Insurance Plan is a Unit Linked Insurance Plan that yields good returns through market participation and also provides life insurance coverage.

Best Investment Plans
  • Guaranteed Tax Savings

    Under sec 80C & 10(10D)
  • ₹ 1 Crore

    Invest 10k Per Month*
  • Zero LTCG Tax

    Unlike 10% in Mutual Funds

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

*Please note that the quotes shown will be from our partners
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Key Features

  • It is a unit linked plan with Regular and Limited Pay premium payment option
  • There are 3 variants under the life cover option – Smart Invest, Smart Family, Smart Kid
  • The life cover variants can be changed in case of marriage or child birth
  • The spouse can also be covered under the plan under joint life option either since inception or during the term under the Life Partner Benefit
  • Under the Automatic Asset Re-balancing strategy, the allocated premium is invested in a pre-determined ratio between the Equity and Debt oriented funds. The ratio is rebalanced every year and the funds are invested majorly in debt oriented funds towards maturity to protect the returns against market fluctuations
  • The following 6 funds are available for investment
  • Exide Life Prime Equity
  • Growth Fund
  • Balanced Fund
  • Secure Fund
  • Exide Life Preserver
  • Exide Life Active Asset Allocation


  • Loyalty Additions equal to allocation charges paid during the term are added on death or maturity for premium rates equal to or higher than Rs.96,000
  • The insured will get the Fund Value including top-up Fund Value on Maturity
  • The Maturity Value can be taken partly in lump sum and partly in instalments over a period of 5 years under the Structured Payout Period
  • On death of the policyholder, higher of the Sum Assured including top-up Sum Assured net of partial withdrawals made 24 months prior to death or Fund Value including top-up Fund Value is paid subject to a minimum of 105% of all premiums paid till death under the Smart Invest variant
  • Under the Smart Family variant, death benefit is higher of SA or 105% of premiums paid + Fund Value. The benefit can be availed for single or joint life
  • Under the Smart Kid variant, death benefit is higher of SA or 105% of all premiums paid. All future premiums are waived off and the plan continues
  • Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.

Product Specification:




Entry Age (Last Birthday)

Smart Invest – 3 yrs.

Smart Family & Kid – 18 yrs.

Smart Invest -  55 years

Smart Family & Kid – 50 yrs.

Maturity Age (Last Birthday)


70 years

Policy Term (PT) in years



Premium Paying Term (PPT) in years

5 pay, 10 pay or Regular pay

Premium paying Frequency

Annual, half-yearly, quarterly, monthly

Yearly Premium


No limit

Sum Assured

Higher of 10*annual premium or 0.5*term*annual premium for ages<45 yrs. and higher of 7*annual premium or 0.25*term*annual premium for ages>=45 years

Details about Premium

Annual Premium in Rupees and Benefit Illustration for age 30 years



Sum Assured



15 years


7 years

Fund Value @ 8%


Fund Value @ 4%


Policy Details

  • Grace Period: 15 days grace is allowed for premium payment in monthly mode and 30 days in annual mode failing which the policy lapses
  • Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Linked Discontinued Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges
  • Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.


  • Partial withdrawals are allowed every year after 5 completed policy years with a minimum value of Rs.5,000
  • Unlimited free Switches are allowed every year for switching between funds
  • Unlimited free Premium Redirections are allowed for redirecting future premiums
  • Top-up premiums can be paid any time to increase the fund value with a minimum of Rs.5000
  • The corresponding top-up SA will be 1.25 times the top-up premium


  • The benefit paid in case of suicide within 12 months of policy inception or revival is the fund value as on that date.

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history and submit KYC documents.

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