Prices Increasing soon Prices Increasing Soon

Exide Life Term with Return of Premium Plan

Exide Life Term with Return of Premium Plan is a comprehensive insurance cover designed to provide life protection at affordable premiums. It also offers the return of premium option for benefits at policy maturity.

Read more
Gets ₹1 Cr. Life Cover at just
COVID-19 Covered
The Policybazaar Advantage
Dedicated claim support for family FREE
Upto 10% discount for buying online
Only certified experts will call you on 100% recorded lines
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

By clicking on "View plans" you agree to our Privacy Policy and Terms of use

~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Life is Unpredictable! Protect your family’s future
Get ₹1 Crore Life cover starting from ₹384/month+
+91
Secure
We don’t spam
Check Your Premium Now
Please wait. We Are Processing..
Get Updates on WhatsApp
The Policybazaar Advantage
Policybazaar Advantage Icon
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.
Policybazaar Advantage Icon
100% calls recorded to ensure no mis-selling
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.
Policybazaar Advantage Icon
Exclusive lifetime discount upto 5% for buying online
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.
Policybazaar Advantage Icon
Advisors available in your city
Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
Policybazaar Advantage Icon
Refund at the click of a button
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.

The features that make Exide Life Term with Return of Premium Plan one of the most economical term insurance solutions are the limited and regular payment options, revival benefit, and reduced payable feature. The policy issuance process is without any hassles as no medical tests are required while buying the policy. 

Note: Know more about what is term insurance first before reading this article.

one crore term plan
plus

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day+

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day+

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day+

Salient features of Exide Life Term with Return of Premium Plan

Parameters

Particulars

Premium 

Minimum

Maximum

Policy Tenure 

Limited

10 to 30 years

30 years

Regular 

12 to 30 years

Premium Paying Term

Limited

10 to 30 years

30 years

Regular 

12 to 30 years

Sum Assured

Limited

Rs.10 lakh

Rs.25 lakh

Regular 

Rs.5 lakh

Premium Payment Frequency

Annual

Loan Facility

No Loan facility is available under the plan

one crore term plan

Secure Your Family Future Today

₹1 CRORE

Term Plan Starting @ ₹449/month+

Get an online discount of upto 10%+

Compare 40+ plans from 15 Insurers

+Standard T&C Applied

Policy Benefits

The Exide Life Term with Return of Premium Plan offers benefits to serve the needs of dependents of the insured. The plan includes a life insurance cover for the policy term. In case of the unfortunate death of the insured, an amount is paid to the nominee, which is equal to the sum assured. At the end of the policy term, the policyholder will receive an amount equal to 100% of the aggregate premium amounts paid during the policy term.

  1. Death Benefit

    The Sum Assured on Death is determined as highest of -

    • Absolute amount assured which will be paid on death; or
    • 105% of total premiums paid till the date of death; or
    • Sum Assured on Maturity; or
    • ‘X’ times the Annualized premium for the policy.

    For both Regular and Limited Premium plans, the multiple of ‘X’ times is determined as follows:

    Till 44 years

    45 years and above

    X = 10 times

    X = 7 times 

  2. Tax Benefits

    Life insurance policies carry significant benefits under the Income Tax Act, 1961. While the death benefit and maturity proceeds are exempt from tax under Section 10 (10D), the total premium paid in a financial year is eligible for deduction under Section 80 C. 

    “Tax benefit is subject to changes in tax laws. Standard T&C apply.”

Premium Illustration

In the Exide Life Term with Return of Premium Plan, the policyholder has an option to pay the premium for Limited or Regular duration, which is payable in annual instalments. The amount of premium payable depends on the premium payment option chosen at inception.

Example: Ayush 30 years old, opts for a 30 years policy term with regular premium payment with a Sum Assured of Rs 25 lakhs. The annual premium stands at Rs 13,154and the Guaranteed Surrender Value is Rs 394, 620.

The plan offers the flexibility to choose the number of years you want to pay the premiums. You may choose to pay premiums for the entire Policy tenure (Regular Premium) or 5 years (Limited Premium), as per your preference. A prospective policyholder must refer to the policy brochure before choosing the right premium plan.

Rider Options

No riders are allowed under Exide Life Term with Return of Premium Plan. However, the policy offers few additional benefits such as:

  • Large Sum Assured discount: The plan offers a benefit of a lower premium rate for Basic Sum Assured of Rs 10 lakhs and above for regular premium payment option. There are separate premium rate tables for Basic Sum Assured below Rs 10 lakh and above Rs 10 lakh. There is no similar discount under the Limited Pay option. For further details, please refer to Exide Life Term with Return of Premium Plan brochure.
  • Guaranteed Surrender Value: The Policy will acquire a Guaranteed Surrender Value if all due premiums for at least 2 full years have been paid. The Guaranteed Surrender Value is a percentage of aggregate premiums paid as provided in the table in the Exide Life Term with Return of Premium Plan
  • Premium discount offered for women: The Premiums payable by female policyholders shall be equivalent to the premium for a male who is three years younger.
  • Reduced Paid-up Benefits: If in an event, at least 2 full years’ premium instalments have been paid, further premium payments are stopped, and the policy is not surrendered, then the policy shall become a ‘Reduced Paid Up’ policy on the expiry of Grace Period till the time it gets revived with full benefits. Grace Period for payment of premium under Exide Life Term with Return of Premium Plan shall be 30 days. Once the policy becomes a ‘Reduced Paid-Up,' the policy acquires a nonforfeiture benefit. This shall be the Reduced Paid-up Value, calculated as follows:
  • Reduced Paid-up Death Benefit: (No. of paid premiums ÷ Total Number of payable premiums) x Sum Assured on Death.
  • Reduced Paid-up Maturity Benefit: Aggregate premium amounts paid.

Eligibility Criteria

The Exide Life Term with Return of Premium Plan eligibility norms is varied depending on the chosen plan option, i.e., Limited or Regular. The eligibility parameters are:

Parameters

Particulars

Minimum

Maximum

Entry Age 

18 years

50 years

Maturity Age 

28 years

65 years

What Are the Documents Required To Buy the Plan?

The documents required to buy the Exide Life Term with Return of Premium Plan are a standard requirement. Photocopies of the valid documents need to be submitted. The documents required by the insurer may vary on a case to case basis. The following documents are mandatory:

  • Proposal form
  • Age proof
  • Proof of residence
  • Salary slips/ Income proof
  • Recent passport-sized photographs
  • Medical reports
  • Bank account details

How To Buy the Exide Life Term with Return of Premium Plan Online?

For buying the policy online, you must fill the proposal form, and upload scanned documents of identity, address, income proofs, etc. Buying term insurance online is a nine-step process as follows:

  • Visit the insurer’s website
  • Select an online term plan
  • Opt for ‘How Much Life Cover You Need’ Calculator to find the appropriate life cover
  • Enter the appropriate life insurance cover and policy period
  • Mention the birth date and whether the purchaser smokes or not
  • Provide basic data such as name, email ID, and contact details
  • One will get a quote for the premium, which one can compare and analyze for various sum assured and policy periods
  • Fill an online proposal form to provide personal details, occupation details, medical records, and lifestyle details
  • After filling in the details, proceed to pay the premium amount to finish the policy purchase

Policy Exclusions

Before finalizing the purchase of Exide Life Term with Return of Premium Plan policy, it is essential to know about the exclusions to have a hassle-free experience during the time of policy claim. It is advisable to check the policy document for a detailed exclusion list. 

  • Suicide Clause: In the event of death by suicide within 12 months from the date of commencement of the policy, the nominee shall be entitled to at least 80% of the aggregate premiums paid till the date of death or the surrender value available as on the date of death whichever is higher. The benefits are offered if only the policy is active at the time of death of the policyholder.

Note: Check out the best term insurance plan in India and choose one that suits your requirements.

FAQs

  • Q. Can the Exide Life Term with Return of Premium Plan be modified anytime during the tenure of the policy?

    Ans: No alterations are allowed under this insurance policy during its tenure. The plan premium payment option selected at the time of purchase of the policy cannot be modified.
  • Q. Can the Exide Life Term with Return of Premium Plan revive after non-payment of premium beyond the Grace Period?

    Ans: Yes. One can revive the policy during the policy term within five years from the first unpaid premium date. This can be done by submitting the proof of continued insurability to the satisfaction of the insurer and making the payment of all due premiums along with late fees calculated at the existing interest rate at the time of the payment. To determine the continued insurability of the policyholder, a medical examination by the insurer may also be needed. The interest rate is set as Bank rate fixed by RBI as of 1st April each year plus 2.50%, rounded up to a multiple of 50 basis points. It is subject to IRDAI’s approval.
  • Q. Can the nomination be modified under Exide Life Term with Return of Premium Plan?

    A: Yes. Nomination can be modified or cancelled any time before the maturity of the policy by an endorsement or a will.
  • Q. Can NRI take term insurance in India?

    A: Yes. A Non-Resident Indian is eligible to buy a term insurance plan in India. When the NRI applies for a term plan while visiting India, once the underwriting is completed for the policy, it will be considered as any other policy bought by an Indian. One may apply for a term plan from the country of residence by writing or contacting the life insurer.
  • Q. Is it safe to buy an online term plan?

    A: Yes. It is completely safe to buy term life insurance online since the confidentiality of the policyholder details is maintained, and the premium amounts are paid through secured payment gateways.
  • Ans: You can easily calculate the term insurance premium online by using the term insurance calculator online tool
  • Ans: Here are 4 common term insurance benefits:
    • Low premium rates
    • Tax Benefits
    • Death Benefit
    • Long term coverage
Premium By Age

Term insurance articles

  • Recent Article
  • Popular Articles
07 May 2024

Term Insurance for 45K Salary Individuals

In life, unpredictability looms large, and while you may

Read more
07 May 2024

Term Insurance for 30K Salary Individuals

Turning your dreams into reality, like owning your home and car

Read more
11 Apr 2024

Government Term Insurance Schemes 2024

The Government of India is committed to the welfare and

Read more
03 Apr 2024

How Policybazaar Helps With Dedicated Claim Assistance

Mr. Kumar has been working with a Public sector bank in Delhi.

Read more
19 Mar 2024

Kotak Term Insurance Login

Kotak Life Insurance is one of the leading insurers offering a

Read more
20 Aug 2014

Term Insurance for Women in India

Term insurance for women is a type of life insurance specifically designed for fulfilling women’s needs and

Read more
03 Dec 2020

What Is Saral Jeevan Bima

Saral Jeevan Bima (SJB) is a simple term insurance plan that offers financial protection for policyholder’s

Read more
13 Apr 2021

2 Crore Term Insurance Plan

2 Crore term insurance provides cover amount of 2 Crore as death benefit to your family in the event of your

Read more
07 Mar 2023

TATA AIA Smart Sampoorna Raksha Param Rakshak Plus

TATA AIA Smart Sampoorna Raksha Param Rakshak Plus is a comprehensive life insurance policy for individuals

Read more
Need Help? Request Callback
top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL