Product Info





Launch Date


Withdrawn Date

Product Overview

This product is oriented towards a combination of savings as well as protection. This is a participating endowment assurance plan which means that, Exide Life Insurance will invest money on your behalf and you will have a share in the profits of company's participatory fund which comes to you through bonuses declared by the Company. This plan is best suited for anyone who wants moderate but steady and guaranteed returns and is generally of risk averse nature.

Product Description

  • This is a non-linked participating Insurance Plan.
  • There is a flexibility to continue this plan according to the customers need.
  • Protection against any emergency or unavoidable circumstance is available.
  • Family Income benefit is available in this policy.



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Unique Features

  • Exide Life Secured Income Insurance Plus is a traditional endowment plan with bonus facility.
  • The plan provides 2 death benefit options: 1) Option to take 100% of guaranteed death benefit as a lump sum 2) Option to take 50% of guaranteed death benefit as a lump sum and take the remaining as 1% monthly income for next 60 months.

Eligibility Criteria

  Minimum Maximum
Entry Age of Policy Holder  0 55  Years
Maturity 18 Years 70 Years 
Policy Term 15 Years  25 Years
Premium Paying Term Same as policy term
Payment Mode Yearly, Quarterly or Monthly
Single Premium Not Applicable
Minimum Premium (Rs.) Annual Monthly
For monthly mode, 3 monthly premiums will be required to be paid on the commencement of the policy
12,000 1,000
Maximum Premium (Rs.) No limit, subject to underwriting

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Product Benefit

  • Maturity Benefit :
    At the maturity of the policy, Exide Life Insurance will pay the sum assured plus vested bonus, if any plus terminal bonus, if any. Subject to the payment of all the due premiums, the Maturity Benefit will never be less than 105% of all the premiums paid.
  • Death benefit :
  1. In case of death of the life assured, the death benefit will be Guaranteed Death Benefit + Vested Bonus, if any + Terminal Bonus, if any subject to the policy being in force.
  2. The Death Benefit will never be less than 105% of the total premiums paid till date of death excluding service tax and extra premiums paid if any.
  • Guaranteed Death Benefit :
  1. Guaranteed Death Benefit is higher of the Sum Assured or 10 times the annualized premium excluding service tax and extra premium paid if any.
  2. Option A: Take the whole guaranteed death benefit as a lump sum, or
  3. Option B: Take the guaranteed death benefit partly as a lump sum and partly as a family income benefit.
  • Lump Sum Benefit :
  1. If you choose option A, 100% of the Guaranteed Death Benefit will be paid as a lump sum. 
  2. If you choose option B, 50% of the Guaranteed Death Benefit will be paid as lump sum.
  • Family Income Benefit :
  1. In case of an unfortunate demise of the bread earner, the family can face financial difficulties. A regular income at this stage can really provide financial security to your loved ones. 
  2. If you choose option B, Exide Life Insurance will pay 60% of the Guaranteed. Death Benefit in equal installments every month for 60 months following the death of the life assured. If you choose option A, Family Income Benefit is not payable.

Other Policy Features

  • Bonus :- Bonuses represent your share in the profits of companies participating fund. The bonus is calculated on the basis of the Sum Assured in the policy. Therefore, they are not guaranteed and are based on fund's performance. Exide Life Secured Income Insurance RP provides two kinds of bonuses:
  1. Simple Reversionary Bonus: Exide Life Insurance may declare bonus as a percentage of Sum Assured which will be attached to your policy and will be paid at death or maturity of the policy whichever is earlier.
  2. Terminal Bonus:- 

- Exide Life Insurance may also declare a terminal bonus from 10th policy year and is payable at maturity of policy or death of the life assured.

- Exide Life Insurance has declared healthy bonuses in the past and will endeavor to do so in the future. The track record of bonus for Exide Life Insurance's all products is available for reference on the Company website.

  • Loan Benefit :- A life insurance policy should be handy for you in the event of any adverse financial emergencies and this policy is designed to meet just that, whereby you can avail a policy loan as eligible once the policy attains surrender value.
  • Discount for high Premiums:
Annualised Premium  Discount rate
First Rs. 24,000  0%
Next Rs.24,000  3%
Next Rs.12,000  5%
Any excess over the above 7%
  • Lapse :-
  1. If the Regular Premium is not paid within the grace period, the Policy shall lapse and have no further value except as described below.
  2. If at least one full year's premium has been paid and less than three full years premiums have been paid, the nominee will be eligible for death benefit which will be equal to surrender value as applicable and the Policy terminates.
  • Reduced Paid-up :- Reduced Paid-Up Sum Assured Number of premiums paid Total Number of premiums payable = x (Sum Assured of basic policy) + Accumulated Bonus, if any
  • Reinstatement :-
  1. Policy can be reinstated during the policy term but within a period of two years from the date of first unpaid premium by submitting the proof of continued insurability to the satisfaction of the board approved underwriting policy and making the payment of all due premiums
  2. If needed the company may refer it to its medical examiner in deciding on the reinstatement of the lapsed policy.
  • Surrender :-
  1. In order to honor unexpected commitments or needs, a Surrender option is available.
  2. This policy can be surrendered if at least one full year's premium is paid.
  3. The surrender benefits are payable immediately on surrender or at the end of the third policy year, whichever is later. All benefits under the policy shall automatically terminate upon payment of surrender benefit.
  • Guaranteed surrender value (GSV) :-
  1. GSV Factor 1 multiplied by the total amount of premiums paid excluding the applicable taxes and premium for extra mortality rating.
  2. GSV Factor 2 multiplied by the total vested bonus accrued to the policy
  3. The GSV Factors increase with the policy duration and are provided in the table below:
During Policy Year GSV Factor 1 (as a % of Premiums paid) GSV Factor 2(a % of vested bonus)
1 20.00% 0.00%
2 20.00% 0.00%
3 30.00% 10.00%
4 50.00% 15.00%
5 50.00% 15.00%
6 50.00% 15.00%
7 50.00% 15.00%
8 55.00% 15.00%
9 55.00% 15.00%
10 55.00% 15.00%
11 60.00% 20.00%
12 60.00% 20.00%
13 60.00% 20.00%
14 65.00% 20.00%
15 onwards 70.00% 30.00%

Notes: If all Premiums have not been paid for at least three full years then the applicable GSV Factor 1 would be fixed 20% & GSV Factor 2 would be fixed 0%; irrespective of the policy year in which the policy is surrendered

  • Special Surrender Value :-
  1. If at least three full year’s Premium has been paid
  2. The Special Surrender Value will be quoted only on receipt of a surrender request which shall be determined by the Company from time to time and is not guaranteed
  • Reinstatement of the Policy :-
  1. Reinstated for full benefits before the Policy Maturity Date but within two years from the due date for payment of the first unpaid premium provided.
  2. This Policy has not been surrendered for cash
  3. No claim has arisen under this Policy
  4. All amounts necessary to reinstate this Policy including all arrears Premiums with interest/reinstatement charge as levied by the Company from time to time.


  • Accidental Death Benefit Rider :
    In case of death due to an accidentof the Life Assured, the Rider Sum Assured chosen will be paid to the nominee.
  • Disability and Dismemberment Benefit :
    An additional Sum Assured under the rider is paid to the nominee if the Life Assured suffers an accidental death, dismemberment and total and permanent disability.
  • Term Rider :
    A term rider acts like a Term Insurance plan which gives an extra life cover to the Life Assured at a very low cost and in the event of death, the nominee is paid base Sum Assured plus the Term Rider Sum Assured.
  • Critical Illness Rider :
    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.


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.

Tax Benefits

Tax Benefits will be as per Section 80C & Section 10(10D) of the Income Tax Act, 1961

Claim Process

Know Claim Process of Exide Life Secured Income Insurance RP

Claim Process

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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on retirment by saving
₹. 3,900/ Month.