A Non-Participating Non-Linked Life Insurance Plan

UIN : 114N108V01

Version 1.1 Apr 2020

For training & internal circulation only This Product can be sold only by POS Persons
 What’s Inside?

Life Insurance Gap Among Indians

Myths about Term Insurance Policies

Presenting Exide Life Term with

Return of Premium Plan

For training & internal circulation only

 75% of Indians today are Uninsured!

75% of Indians (more than population of Europe)

are not covered by any form of Life Insurance

25

75

An Indian is assured of only 8% of what may be

required to protect a family from financial shock
following the death of an earning member

For training & internal circulation only https://www.business-standard.com/article/current-affairs/with-75-grossly-underinsured-why-aren-t-indians-sufficiently-covered-119011500150_1.html

 Why Indians avoid buying a Term Insurance Plan?
Protection forms the base of a strong Financial planning and Term plans are best solutions for this. However, there are certain myths about
Term Policies due to which customers are reluctant to buy insurance.

I don’t think I need any life

? I have to go through the hassle of
medical tests while buying
insurance cover
insurance

I don’t think I am eligible to buy All my money is wasted if I outlive the

a term insurance plan policy term

37% of Indians earning up to Rs. 5 Lakhs do not have any life cover
- Money Habit Survey, Exide Life Insurance, 2018

You will never face the consequences of not having a life insurance, but your loved ones will.

For training & internal circulation only

 Presenting…

For training & internal circulation only

This Product can be sold only by POS Persons
3 Reasons to buy this plan

Why Exide Life Term with Return of Premium Plan?

100% Return of Premium Life insurance coverage Flexible

on completion of policy term without medical tests Premium payment options

Zero Cost Term Plan

For training & internal circulation only

 Reason 1: 100% Return of Premium at the end of policy term

Get 100% of the premiums

paid excluding taxes on surviving
the policy term
100% Return of
Premium
on completion of
policy term
The actual price you pay for
this product is “ZERO”

For training & internal circulation only

 Reason 2: Life Insurance cover without medical test

Hassle free policy login as no

medical tests required

Life insurance
coverage The policy gets issued within 48
without medical hours of proposal login*
tests

In case of any unfortunate event

during the policy term the
Sum Assured on Death is Payable
and the policy terminates.

For training & internal circulation only * Waiting period of first 90 days from the date of acceptance of risk will be applicable refer to Policy T & C
 Reason 3: Flexibility to choose from 2 premium payment options

Limited Premium
(5 years)

Flexible
Premium payment
options
Regular Premium
(equal to policy term)

For training & internal circulation only

 Illustration – Regular Pay Option
Akash 30 years old, opts for a 30 years policy term with regular premium payment with Sum Assured of ₹ 15,00,000.
The annual premium excluding GST is ₹ 11,712.

*Maturity Benefit
3,51,360
Premium Paid/yr
11,712*

30 Years In case of death during policy 60 Years

term, Life cover amount of
15,00,000 is paid

*Annual Premium excluding GST

For training & internal circulation only

 Illustration - Limited Pay Option
Akash, 30 years old, opts for a 30 years policy term with Limited pay option with Sum Assured of ₹ 15,00,000. The
annual premium excluding GST is ₹ 35,342. Akash has to pay annual premium only for 5 Years under Limited Pay Option.

Limited Pay Option :

*Maturity Benefit
Pay only for 5 Years
1,76,710
Premium Paid/yr
35,342*

30 Years In case of death during policy 60 Years

term, Life cover amount of
15,00,000 is paid

*Annual Premium excluding GST to be paid for 5 Years.

For training & internal circulation only

 Product Specifications

Entry Age (Years) 18 to 50 Years

For Limited Premium 10 to 30 Years

Policy Term* (Years)
For Regular Premium 12 to 30 Years

For Limited Premium ₹ 10 Lakhs

Minimum SA
For Regular Premium ₹ 5 Lakhs

Maximum SA ₹ 15 Lakhs

Premium Paying Mode Annual

*The maximum Policy Term is 30 years subject to maximum maturity age of 65 years

For training & internal circulation only

 You pay less premium (total premium) by opting for Limited Premium option

Age 30 yrs/PT 30 yrs/SA 10 lacs* Premium Paid Total Premium Paid

Regular Pay 7808 234240

Limited Pay 23561 117805

50% savings on Premium

Age 35 yrs/PT 30 yrs/SA 10 lacs* Premium Paid Total Premium Paid

Regular Pay 9945 298350

Limited Pay 31363 156815

47% savings on Premium

Age 40 yrs/PT 25 yrs/SA 10 lacs* Premium Paid Total Premium Paid

Regular Pay 13121 328025

Limited Pay 37228 186140

43% savings on Premium

For training & internal circulation only

 Customer Profiling

Salaried and Professionals, with regular source of

Occupation
earned income

Preferred Education
Higher education is preferred especially when occupation
is non-salaried
Profiles
At least 2-3 lakhs (please make sure that this income
Income
shown by customer is genuine)

Existing Exide Life Existing Exide Life Customers who have been rated up, and
Customers persons with poor profile are not preferred for this Product.
Not Preferred
Profiles Agriculturists, Hazardous Occupation, Customer with
Occupation unearned income, Students, Housewives, Widower/Widow
with no income, Retired/Retirees

For training & internal circulation only

 Customer Profiling (contd.)

01 It is Exide Life’s first non- medical Protection Product

Points to 02 Expecting young, healthy lives for the Product

be Noted

Maximum Sum Assured limit may be reviewed basis the claim

03 experience.

For training & internal circulation only

Waiting Period & Death Sum Assured

Waiting Period:

 It is a period of first 90 days from date of acceptance of risk.

In case of death of Life Assured during Waiting Period, only 100% of Premiums received excluding taxes, if any, shall be
payable to the Nominee.

Waiting Period shall not be applicable for accidental death & policy revival.

Sum Assured on Death is

Absolute amount
assured to be paid
on death

For training & internal circulation only

 Other Benefits

Large Sum Assured Discount

Benefit of lower premium rate for Basic
Sum Assured of Rs. 10 lakhs and above
for Regular premium option.

Taxes
Policyholder may be eligible for tax
benefits under following Sections of
the Income Tax Act, 1961, subject to
provisions contained therein.
U/S 80C of the Income Tax Act 1961
on your premiums paid*
U/S 10(10D) of the Income Tax Act
1961 on the maturity proceeds of your
policy*. Premium Discount for Female Lives
The Premiums payable by women
policyholders will be equivalent to the
Premium for a three-year younger male.

For training & internal circulation only

 Grace Period, Lapse and Reinstatement

You have an extra time period after the premium payment due date which is provided to you for
Grace Period your convenience in paying the Premium. Grace period is 30 days for this Plan. During grace
period, the policy is treated to be in force.

If the premiums due have not been paid within the grace period and the policy has not acquired
Lapse
a surrender value, the policy shall lapse, and no benefits will be payable under such policy.

If at least 2 full years’ premium have been paid in Regular premium & limited premium policy and
further premiums are not paid and the policy is not surrendered, the policy will acquire the status of
reduced paid up on the date of expiry of grace period up till the policy is revived for full benefits. Once the
Reduced Paid policy attains the status of reduced paid up, the policy will be eligible for a non-forfeiture benefit, which
shall be Reduced Paid-up Value described below
up benefits
Number of premiums paid X Sum Assured on Death
Reduced Paid-up Death Benefit
Total number of premiums payable

Total premiums paid excluding the underwriting extra

Reduced Paid-up Maturity Benefit
premiums, if any

For training & internal circulation only

 Grace Period, Lapse and Reinstatement

Policy can be revived during the policy term but within a period of five 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 together with payment of late fees
calculated at such interest rate as may be prevailing at the time of the payment.
Revival
The interest rate is set as per the formula below and is subject to IRDAI’s approval:

› Bank rate fixed by RBI as on 1st April + 2.5%, rounded up to a multiple of

50 basis points.
› The revival interest rate for financial year 2019-20 is 9%.
If needed the company may refer it to its medical examiner in deciding on revival of lapsed
policy.

The policy will acquire a guaranteed surrender value (GSV) if all due premiums for at least 2 full
Surrender years for Limited premium policy and Regular premium policy have been paid. The
Guaranteed Surrender Value is expressed as a percentage of total premiums paid excluding the
underwriting extra premiums, as per pre decided tables

For training & internal circulation only

 Commission

1st Policy Year Subsequent

2nd & 3rd
Policy years
Policy year
Premium Paying Base Bonus Total (till end of PPT)
Term Commission Commission Commission

5 Pay 8% 2% 10% 1% 1%

Regular
25% 10% 35% 1% 1%
Premium

For training & internal circulation only *Bonus commission is offered to Sr. Advisers & above and is paid as a % of the First Year Premium
 Disclaimer
› Exide Life Term with Return of Premium Plan (POS TROP) is a Non-linked Non- participating life insurance plan UIN: 114N108V01

› The content is strictly for internal circulation and training purposes only.

› Tax benefits are subject to change in tax laws from time to time.

› Exide Life Term with Return of Premium Plan (POS TROP) is a Non-linked Non- participating Life Insurance Product. It can be sold only by
POS Persons.

› Exide Life Insurance Company Limited is only the name of the Insurance Company and Exide Life Term with Return of Premium Plan (POS
TROP) is only the name of the product and does not in any way indicate the quality of the product, its future prospect or returns.

› Past performance is not an indication for the future performance.

› The purpose of this presentation is to provide a general overview about this policy. The information herein is indicative of the terms,
conditions and exceptions contained in the policy terms and conditions of Exide Life Term with Return of Premium Plan (POS TROP)

› In the event of any inconsistency / ambiguity between the terms contained herein and the policy terms and conditions, the policy terms and
conditions will prevail.

Exide Life Insurance Company Limited, IRDA Registration number: 114, CIN: U66010KA2000PLC028273.
Registered Office: JP Techno Park, No 3/1 , Millers Road, Bengaluru – 560001, India.
Toll Free: 1800 419 8228. Visit: www. exidelife.in

For training & internal circulation only

Thank You