Exide Life Assured Gain Plus
Product Info
UIN
Status
Launch Date
Withdrawn Date
Product Overview
This product is oriented towards combination of savings as well as protection. This is a participating endowment assurance plan which means that Exide Life will invest money on your behalf and you will have a share in the profits of company’s participating fund which comes to you through simple reversionary bonuses declared by the Company.
Product Description
- The plan has a fixed PPT of 5 years.
- Enjoy life cover for the full policy term.
- Attractive tax free returns with your capital guaranteed.
COMPARE & BUY SIMILAR PLANS
Unique Features
- Exide Life Assured Gain Plus is a traditional endowment plan with bonus facility and limited/single premium paying option.
- Apart from the bonus, from the end of the fifth policy year, you become eligible for a Guaranteed terminal addition either on maturity or on death.
Eligibility Criteria
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Eligibility Criteria |
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Minimum age at entry |
3 Years (15 Year Policy Term) |
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6 Years (12 Year Policy Term) |
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8 Years (10 Year Policy Term) |
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Maximum age at entry |
60 Years (Limited Premium Payment Term 5 Years) |
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65 Years (Single Premium) |
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Minimum Maturity age |
18 years |
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Maximum Maturity age |
70 Years (Limited Premium Payment Term 5 Years) |
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Max age of Maturity |
80 Years (Single Premium) |
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Policy Term |
10yrs, 12yrs or 15 years |
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Premium Paying Term |
Limited (5 years) or Single |
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Premium paying Frequency |
Annual / Semi Annual / Monthly /Single |
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Minimum Premium (Rs.) |
Limited Premium Payment Term (5 Years): |
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Annual: |
Rs. 60,000 |
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Semi Annual: |
Rs. 30,000 |
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Monthly: |
Rs. 5,000 |
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Single Premium: |
Rs. 2,40,000 |
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Maximum Premium (Rs.) |
No limit (Subject to board approved underwriting policy) |
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Minimum Sum Assured (Rs.) |
Limited Premium Payment Term (5 years): Rs. 1,93,000 |
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Single Premium: Rs. 2,19,000 |
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Notes: For monthly mode, 3 monthly premiums will be required to be paid on the commencement of the policy. |
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OneInsure App Benefits
Product Benefit
Maturity Benefit:- Sum Assured on Maturity + Guaranteed Terminal Additions + Simple Reversionary Bonus, (if any)
Death Benefit:- Sum Assured on death, plus Vested bonuses, (if any), plus Applicable Guaranteed Terminal Additions, (if any)
Other Policy Features
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Feature |
Description |
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Exide Life Assured Gain Plus Provides a Maturity Benefit as described below : |
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Policy Term |
Total Maturity Benefit |
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10 Years |
130% of ‘Sum Assured on Maturity’ (Guaranteed) plus vested bonuses |
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12 Years |
136% of ‘Sum Assured on Maturity’ (Guaranteed) plus vested bonuses |
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15 Years |
145% of ‘Sum Assured on Maturity’ (Guaranteed) plus vested bonuses |
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Notes: The above table includes Sum Assured on Maturity and Guaranteed Terminal Additions as guaranteed benefits. |
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Following riders are available with Exide Life Assured Gain Plus |
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Exide Life Critical Illness (4) Regular Pay (UIN: 114B009V02) |
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Exide Life Critical Illness (25) Regular Pay (UIN: 114B009V02) |
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Discount for High Premiums |
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Limited Premium Payment Term (5 Years): |
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Annualised Premium |
Discount rate |
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First Rs. 96,000 |
0% |
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Next Rs. 96,000 |
2.50% |
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Any excess over the above |
3.50% |
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Limited Premium Payment Term (5 Years): Single Premium |
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Single Premium |
Discount rate |
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First Rs. 3,60,000 |
0% |
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Next Rs. 1,20,000 |
5.50% |
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Any excess over the above |
6.50% |
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Lapse |
A single premium policy doesn’t lapse. |
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Limited Premium Payment Term (5 years), if at least 1 full year’s premium is not being paid, the policy will lapse on the date of expiry of grace period |
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A lapse policy will cease to participate in the participatory fund until the policy is reinstated for full benefits. |
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Reduced Paid-up |
For Limited Premium Payment Term (5 years), if at least 2 full years’ premium has been paid and further premiums are unpaid and the policy is not surrendered |
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Is = t/n x { Sum Assured on Death + Applicable Guaranteed Terminal Additions at the time of death, if any } + Vested Bonuses, if any |
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Notes :- This is Life Cover Formula |
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Is = t/n x { Sum Assured on Death + Applicable Guaranteed Terminal Additions at the time of Maturity, if any } + Vested Bonuses, if any |
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Notes :- This is Maturity Formula |
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Notes: t = Number of installments of premiums paid, n = Total number of installments of premiums payable under the Policy |
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Reinstatement |
Policy can be reinstated during the policy term but within a period of two years from the date of first unpaid premium. |
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Reinstatement charge is a percentage of the due premiums and the current reinstatement charge is 9% per annum compounded semiannually. |
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Surrender |
premium payment term of 5 years, this policy can be surrendered if at least one full year’s premium is paid. |
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The surrender benefits are payable immediately on surrender or at the end of the second policy year, whichever is later. |
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All benefits under the policy shall automatically terminate upon payment of surrender benefit. |
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Guaranteed Surrender Value |
GSV Factor 1 multiplied by the total amount of premiums paid excluding the applicable taxes and premium for extra mortality rating, if any. |
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GSV Factor 2 multiplied by the vested bonus, if any. |
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For Limited Premium Payment Term (5 Years) |
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Policy Year |
GSV Factor 1 (As a % of premiums paid |
GSV Factor 2 (As a % of loyalty bonus) |
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1 |
10.00% |
0.00% |
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2 |
30.00% |
10.00% |
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3 |
30.00% |
10.00% |
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4 |
50.00% |
15.00% |
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5 |
50.00% |
15.00% |
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6 |
50.00% |
15.00% |
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7 |
50.00% |
20.00% |
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8 |
55.00% |
20.00% |
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9 |
55.00% |
20.00% |
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10 |
55.00% |
25.00% |
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11 |
60.00% |
25.00% |
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12 |
60.00% |
25.00% |
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13 |
60.00% |
30.00% |
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14 |
65.00% |
30.00% |
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15 |
65.00% |
35.00% |
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Notes: If at least two full years’ premiums are not paid, the applicable GSV Factor 1 would be fixed 10% and GSV Factor 2 |
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For Limited Premium Payment Term (5 Years) (For Single Premium) |
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Policy Year |
GSV Factor 1 (As a % of premiums paid |
GSV Factor 2 (As a % of loyalty bonus) |
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1 |
70.00% |
10.00% |
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2 |
70.00% |
10.00% |
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3 |
70.00% |
10.00% |
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4 |
90.00% |
15.00% |
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5 |
90.00% |
15.00% |
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6 |
90.00% |
15.00% |
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7 |
90.00% |
15.00% |
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8 |
90.00% |
15.00% |
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9 |
90.00% |
15.00% |
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10 |
90.00% |
15.00% |
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11 |
90.00% |
20.00% |
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12 |
90.00% |
20.00% |
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13 |
90.00% |
20.00% |
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14 |
90.00% |
20.00% |
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15 |
90.00% |
20.00% |
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Notes:- For Limited Premium Payment Term (5 years), if at least 1 full year’s premium has been paid and less than 2 full years’ premium is been paid, the policy will be eligible for GSV and Life Cover which will be equal to GSV and policy terminates. |
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Special Surrender Value (SSV) |
Limited Premium Payment Term (5 years), if at least two full years’ Premiums have been paid, the policy will acquire a Special Surrender Value. SSV will be declared by Company from time to time |
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Modal Factor |
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Mode of Premium |
Multiplicative Factor |
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Monthly |
1 |
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Half Yearly |
5.68 |
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Yearly |
11.01 |
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Add-ons
- Critical Illness (4) Regular Pay :
The rider Sum Assured is paid to the Life Assured on the first diagnosis of any of the specified Critical Illness. There is no death or maturity benefit.
- Critical Illness (25) RegulaCritical Illness (25) Regular Pay :
The rider Sum Assured is paid to the Life Assured on the first diagnosis of any of the specified Critical Illness. There is no death or maturity benefit.
Exclusions
If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of reinstatement of the Policy, the Policy shall be void and the Company will only be liable to pay the higher of 80% of premiums paid or the surrender value.
Claim Process
Know Claim Process Of Exide Life Assured Gain Plus
Company Overview
Exide Life Insurance Company Limited (formerly ING Vysya Life Insurance Company Limited) commenced operations in 2001-02 and is headquartered in Bengaluru. The company is 100% owned by Exide Industries Limited and is proud to be part of a 100 year old brand heritage in India.
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