A unique
savings cum insurance plan which works to your advantage by providing you
regular guaranteed income and life
insurance cover
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Exide Life Insurance announced launch of “Exide Life Income Advantage Plan” a unique savings cum insurance plan which works to your
advantage by providing regular guaranteed
income and life cover. Under this plan, you can choose from two income payout
options as per your life stage needs, helping you benefit from the bonus
payouts. The plan is affordable and caters to every individual’s need for a
second income.
Under Exide Life Income Advantage Plan, you
are required to pay premiums only during the first half of the policy
term.During the second half of the policy term you receive regular guaranteed
income on an annual basis. In Addition, you benefit from additional income every
year that is paid to you on account of applicable bonuses.A choice of 3 policy
terms offered under the plan is 16, 24 and 30 years during which the customer
enjoys life insurance cover.
You can enhance protection under this plan by
opting for riders by paying a nominal additional premium.You can choose from Exide Life Critical Illness Rider, Exide Life Accidental Death,
Disability and Dismemberment Rider or Exide Life Term Rider to increase your life cover.
How
does the plan work?
The plan offers flexibility of two options to
receive the annual guaranteed income. Once you select your chosen policy term
from a choice of 16, 24 and 30 years, you pay premium for first half and
receive income during the second half of the policy term. You can receive the
regular guaranteed income along with applicable bonuses every year during the
benefit payout period under Pure Income Benefit option.
Under Income with
Maturity Benefit option, you avail income during the benefit payout period and
all applicable bonuses accumulated over the period of time are paid as maturity
benefit. Based on your life stage need, you can choose between the two options.
Commenting on the launch of Exide Life Income
Advantage Plan, Sanjay Tiwari, Executive
Vice President – Product Management, Exide Life Insurance, said, “It is an
affordable plan designed to cater to every individual’s need for a second
income to achieve long term financial goals, thereby ensuring that your dreams
for your loved ones are taken care of. The uniqueness of this plan lies in
providing long term, tax-free second income offering reasonable
returns to our customers powered by guaranteed benefits and upside of bonuses.
An added value proposition is that Exide Life Income Advantage Plan comes with
options of riders as well, to enhance protection levels”
#For monthly mode, 3 monthly premiums are collected in
advance on the date of commencement of the policy.
About Exide Life
Insurance Company Limited:
Exide Life Insurance Company Limited commenced operations in 2001 and is head quartered in
Bangalore. The company is profitable and serves over 10 lakh customers across
India and manages over INR 8,800 crores in assets. The company is 100% owned by
Exide Industries Limited and is proud to be part of a 100 year old brand
heritage in India. (*As on 31st March 2015)
Exide Life
Insurance distributes its products through multi-channels viz. Agency, Banc
assurance, Alliances and Direct Channels. The Agency channel comprises of over
35,000 advisors who are attached to over 200 company offices and customer care
centers across the country. The Alliances business includes distribution
relationships with banks, Corporate Agents, Brokers & Referral Partners.
Exide Life
Insurance, one of the leading life insurance companies in South India, is now
growing its franchise in East and other parts of the country. The company is
focused on providing long term protection and savings solutions and has a
strong traditional product portfolio with a consistent bonus track record.
Exide Life Insurance has the ISO 9001:2008 quality certification for all
Customer Service processes.
About Exide Industries
Limited..!
Exide is India’s largest manufacturer of electric storage
batteries and its biggest power-storage solutions provider with a market
capitalization of over INR 15,000 crores*.
Since its introduction in India more than a hundred years
ago, Exide remains the foremost and the most trusted battery brand in India.
The century old brand equity is backed by a robust nation-wide network of
18000-plus dealers. (*As on 31st March 2015)
With 7 world-class battery manufacturing factories across
India, the range of products offered by the company covers everything from the
smallest batteries required in motorcycles to the giant batteries powering
submarines. After all, India moves on Exide.
Media Contacts:
Shwetha Guru: 9900519751
Vishnuram
H+K Strategies, Chennai
+91 9841255885
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