Exide Life Guaranteed Income Insurance Plan is a non-participating plan that provides a guaranteed regular income. Under this plan, you need to pay during first half of the policy term and get guaranteed benefits after completion of the premium payment term. This plan also provides lumpsum amount on maturity plus a life cover through the entire policy term. Get Quote
Death Benefit
In case of unfortunate death of the life insured, a Guaranteed Death Benefit (GDB) is higher of Sum Assured, 10 times of annual premium or 105% of the premiums paid less unpaid due premiums. This benefit is applicable through the entire term of the policy and it is not reduced by Guaranteed Income already paid.
Lumpsum Option: Guaranteed Death Benefit is payable as lumpsum.
Family Income Benefit Option: It is 110% of Guaranteed Death Benefit payable in 60 monthly installments.
Survival Benefit
Regular guaranteed income as monthly or yearly payout after completion of the premium payment term. This benefit is payable on survival only and it is a percentage of the sum assured chosen.
Maturity Benefit
It is equal to sum assured chosen at the commencement of the policy and it is payable at maturity of the policy term with the last guaranteed income payout.
Loan Benefit
Loan is available up to 80% of the special surrender value, provided the policy has attained surrender value. The minimum amount available under the loan is Rs 1,000.
Surrender Value
Surrender Value is higher of the Guaranteed Surrender Value or Special Surrender Value, after deducting any loan under the policy. For 7 years premium payment term policies, surrender value is acquired after payment of 2 full policy years’ premiums and for other premium payment term policies, surrender value is acquired after paying all due premiums for 3 full policy years.
Tax Benefit
Tax benefits for premiums paid under section 80C, policy proceeds under section 10 (10D) & premiums paid for critical illness rider under section 80D of the Income Tax Act, subject to prevailing tax laws.
| Factor | Minimum | Maximum |
| Age (as on last birthday) | 11 Years (policy Term-15 Years), 8 Years (policy Term-20 Years), 6 Years (policy Term-24 Years), 3 Years (policy Term-30 Years) | 55 Years |
| Age at Maturity | 26 Years (policy Term-15 Years), 28 Years (policy Term-20 Years), 30 Years (policy Term-24 Years), 33 Years (policy Term-30 Years) | 70 Years (policy Term-15 Years), 75 Years (policy Term-20 Years), 79 Years (policy Term-24 Years), 85 Years (policy Term-30 Years) |
| Policy Tenure | 15/20/24 Years | 30 Years |
| Premium Paying Term | 7 Years (policy Term-15 Years), 10 Years (policy Term-20 Years), 12 Years (policy Term-24 Years), 15 Years (policy Term-30 Years) | - |
| Premium Paying Mode | Annually, Semi Annually, Quarterly & Monthly | - |
| Premium Amount | For Policy Term 15 Years- Rs 24000, For Policy Term 20 Years- Rs 18000, For Policy Term 24 Years- Rs 12000, For Policy Term 30 Years- Rs 12000 | No Limit |
| Sum Assured | Rs 90,978 | No Limit |
| Freelook Period | 15 Days/30 Days (for Distance Marketing Channel) From The Receipt Of The Policy | - |
| Grace Period | 30 Days (15 Days For Monthly Mode) | - |
| Plan Type | Offline | - |
Following riders can be availed with this plan
Ritesh opts for Exide Life Guaranteed Income Insurance Plan with policy term of 30 years with an annual premium of Rs 50,665 for the first 15 years during the policy.
Under this policy, he will receive,