Exide Life Elite Term Insurance Plan

You’ve carefully planned your family’s future.

Make sure it remains protected.

Exide Life Elite Term Insurance Plan

l Substantial Life Cover at affordable

premiums l Increased sum assured on maintaining

healthy lifestyle at no extra cost l Option for Family Income Payout of 5

or 10 years l Option for term extension by 5 or

10 years

exidelife.in

Exide Life Elite Term Insurance Plan A Non-participating, Non-linked, Pure Risk Premium, Individual Life Insurance Plan (This product is also available for Online Sale) You continuously strive to make life easy for your loved ones. More so, you want to ease the financial burden on your family if you are not around. So, what exactly will help you build that solid financial foundation to ensure that your family lives without worries?

The answer is very simple.

By protecting yourself with Exide Life Elite Term Insurance Plan. Because, once you are well-protected, your family can live without worries. And no matter what tomorrow holds for you, your family’s future remains secure.

Key reasons to buy l

Substantial Life Cover at affordable premiums

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Increased sum assured on maintaining healthy lifestyle at no extra cost

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Option for Family Income Payout of 5 or 10 years

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Option for term extension by 5 or 10 years

Plan Benefits A. Substantial life cover at affordable premiums Premiums in Exide Life Elite Term Insurance Plan can be lower if you are leading a healthier and better lifestyle, for example: a. Preferential premium rates are offered to non- smokers. b. Medical examinations are necessary for each proposer. A favorable medical evaluation as determined by the company’s underwriting guidelines could make you eligible for Super Elite premium rates. c. If you qualify for Super Elite premium rates and if you have opted for a sum assured of `5 Crore or above you shall be offered a further discount in your Premium rates.

In addition to preferential treatment for better health and lifestyle, premium rates for females are further lower than males.

B. Increased Sum Assured on maintaining healthy lifestyle In case you are not eligible for Super Elite rates when you apply for this policy, you can undergo medical tests again at our cost if your regular premium policy is in force after 25 completed months. Along with the renewal notices for premiums due on 3rd anniversary for in force policies, the Company shall notify you to avail medical tests. Should the medical test results fulfil our Super Elite underwriting guideline before the completion of 34th policy month, Exide Life Insurance will increase your policy Sum Assured from the 37th month onwards i.e. 4th policy year onwards. This increase will be commensurate with our Super Elite rates assuming you continue paying the same premiums.

Let’s see how this benefit works Mr. Anil is a 35 year old businessman. He buys Exide Life Elite Term Insurance Plan for a sum assured of `2 Crore with a Policy term and Premium payment term of 35 years.

The premiums shall be `30,700 per annum if he meets our Super Elite non-smoker medical criteria or else he will need to pay `33,319 per annum.

After the medical test, results indicate that Mr. Anil does not meet our Super Elite underwriting guidelines and his policy is issued with a final premium of `33,319 per annum.

Exide Life Elite Term Insurance Plan allows Mr. Anil another opportunity to improve his premium rates, after 25 months are elapsed from policy commencement date and if policy is in force. He can undergo another medical examination at our cost and should his medical reports satisfy the Super Elite medical criteria, his sum assured will be upgraded to `2.18 crore while he will continue to pay an annual premium of `33,319.

C. Death Benefit The Death Benefit payable is the Sum Assured chosen by you. In case of your unfortunate death, your nominee will receive the Death Benefit payouts depending on the option that you may have signed up at inception. We offer 3 flexible payout options for you to choose from as explained below:

Payout Option A: Lumpsum Payout On choosing this option, the entire Death Benefit is paid as a lumpsum to the nominee.

Or

Payout Option B: Lumpsum with Family Income Payout (FIP) On choosing this option, the nominee shall receive 50% of the Death Benefit as lump sum and 0.95% of the Death Benefit every month over the next 60 months from the date of death.

Or

Payout Option C: Family Income Payout On choosing this option, the nominee shall receive 1.07% of the Death Benefit every month over the next 120 months from date of death.

Let’s understand this with the help of an example Anil, a 35 year old businessman buys Exide Life Elite Term Insurance Plan for a sum assured of `2 crore with a policy term of 35 years. He pays an annual premium of `30,700 for a premium payment term of 35 years. Unfortunately, Anil dies in the 13th year of the policy term.

Depending on the payout option chosen, his nominee will receive the payout as shown below:

Payout Option A: Lumpsum Payout Had you chosen the lumpsum payout option, your nominee would receive the entire amount of `2 Crores in one go and the policy will terminate.

Payout Option B: Lumpsum with Family Income Payout If Lumpsum with FIP option was chosen, 50% of the Death Benefit i.e. `1 crore shall be paid out to the nominee immediately and 0.95% of the Death Benefit i.e. `1,90,000 per month shall be paid out every month for the next 60 months.

Payout Option C: Family Income Payout Had this option been chosen at inception, 1.07% of the Death Benefit i.e. `2,14,000 shall be paid out every month for the next 120 months.

D. Policy Extension upto 10 years You may opt for the maximum possible policy term available for you based on your age. However, if that maximum policy term is not adequate, Exide Life Insurance provides you an option to increase the policy term by either 5 or 10 years thus guaranteeing an extended coverage period.

The extended term shall be offered only to regular premium policies where the available maximum policy term at the given age has been opted. If you have chosen extended policy term your premium payment term will not change and you will simply pay an additional premium throughout the premium paying term for availing the extended policy term.

Eligibility Conditions: Minimum / Maximum Age at Entry

21years / 60 years (Age last birthday)

Maximum Maturity Age

70 years (Age last birthday) 80 years age (If Extended Term opted for)

Policy Term

• Single Premium (SP): 5 to 35 years (multiples of 5 only) • Regular premium (RP): 10 – 35 years • Extended Term: RP +5 or +10 years

Premium Paying Term (PPT)

• Single Pay • Regular premium: Same as policy term No premiums are payable during the Extended Term

Minimum Sum Assured (`)

`50 Lakhs (online mode) `2 Crore (offline mode)

Maximum Sum Assured (`)

No Limit ( Subject to underwriting guidelines)

Premium Mode

Annual and Monthly

Modal Factor

11.01 (Annual mode) 1 (Monthly mode)

Other important benefits E. Enhanced Protection through Riders This plan offers you options to increase your protection level by opting for riders by paying small amount of extra premium. Riders can be added at the inception of the Policy or at a policy anniversary during the policy term subject to underwriting and terms & conditions of the riders.

Following riders are available with the policy l

Exide Life Accidental Death Disability and Dismemberment Rider (UIN:114B002V02)

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Exide Life Critical Illness Rider (UIN: 114B009V02)

F. Tax Benefits l

Policyholder buying this policy may be eligible for tax benefits under following Sections of the Income Tax Act, 1961, subject to provisions contained therein.

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U/S 80C of the Income Tax Act 1961 on your premiums paid#

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U/S 80 D of Income Tax Act 1961 on the premium paid towards critical illness rider, if opted for#

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The aforesaid tax benefits are subject to change in tax laws and to the terms set out in the said Sections. We therefore urge you to carefully analyze in consultation with your tax advisor the tax benefits/tax implications, if any that may arise on investing in this policy.

G. Surrender benefits* Guaranteed Surrender Value* shall be available for Single premium policies. After one year is elapsed from the policy commencement date of a single premium policy, the policyholder will be eligible for Guaranteed Surrender Value.

Guaranteed Surrender Value =

[

Number of Years outstanding PolicyTerm

Number of years outstanding = Policy Term minus number of completed years.

There is no surrender value under regular pay mode. *Surrender Value is the refund of unexpired risk Premium as per the formula mentioned above.

x (70%) ] *Single Premium

H. Refund of Additional Premium (only available if Extended Term is opted) After one year is elapsed from Policy Commencement Date for a policy where Extended Term is opted and if any subsequent Premium due has not been paid and the policy is not revived by the end of the revival period, the Policyholder will be eligible for refund of premium i.e. refund of additional premium charged for the Extended Term.

This refund will be made immediately at the end of the revival period.

• Policies where premiums have been paid for at least 1 year shall be paid 90% of the additional premium charged for Extended Term.

• Policies where premiums have been paid for at least 5 years shall be paid 100% of the additional premium charged for Extended Term.

Terms & Conditions A. Grace Period: A Grace Period of fifteen (15) days for policies with monthly Premium payment mode and thirty (30) days for other available regular Premium payment modes from the Premium payment due date shall be allowed for payments of each Premium. The regular Premiums are payable on the due date for payment and in any case not later than the Grace Period. During the Grace Period, the Policy shall continue to be In Force for availing the Death Benefit.

The Company shall pay the Death Benefit for death during Grace Period, subject to the deduction of the premiums due as well as balance premiums for the Policy Year, if any under the Policy.

B. Lapsation: The policy will lapse on the date of expiry of grace period. Once the policy lapses, all benefits under the policy will cease until the policy is revived for full benefits.

C. Revival: Policy can be revived with full benefits during the policy term but within a period of five years from the date of first unpaid premium. For revival, policyholder will have to submit the proof of continued insurability to the satisfaction of the board approved underwriting policy and all amounts necessary to revive this Policy including all arrears Premiums with interest/Revival charge 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% p.a.

D. Survival benefit: There is no survival benefit paid under this product.

E. Free Look Period: The Policyholder shall have a period of 15 days (30 days if the Policy is sourced through Distance Marketing# as provided in Distance Marketing Guidelines IRDA/ADMN/GDL/MISC/059/04/2011 dated 05/04/2011) from the date of receipt of the Policy Document to review the terms and conditions of this Policy and if the Policyholder disagrees with the said terms and conditions, the Policyholder shall have the option to return the Policy to the Company for cancellation, stating the reasons for His objections. Upon such Free-Look cancellation, the Company shall return the Premium paid subject to deduction of a proportionate risk Premium for the period of insurance cover and medical examination fees (if any) in addition to the stamp duty charges. All Benefits and rights under this Policy shall immediately stand terminated on the cancellation of the Policy. #Distance Marketing includes solicitation through all modes other than in person.

F. Suicide Exclusion: In case of death due to suicide within 12 months from the Date of Commencement of Risk under the policy or from the date of Revival of the policy, as applicable, the Eligible Person shall be entitled to at least 80% of the Total Premiums Paid till the date of death or the Surrender Value available, if any as on the date of death whichever is higher, provided the policy is InForce.

G. Alterations: No alterations are allowed other than the change in premium payment mode and increase in sum assured on health improvements in this policy.

H. Assignment Provisions: Assignment should be in accordance with provisions of Section 38 of the Insurance Act 1938 as amended from time to time.

I. Nomination Provisions: Nomination should be in accordance with provisions of Section 39 of the Insurance Act 1938 as amended from time to time.

About Exide Life Insurance (As on 31st March, 2019) Exide Life Insurance Company Limited commenced operations in 2001-02 and is head quartered in Bengaluru. The company is 100% owned by Exide Industries Limited. The company serves over 15 lakh customers and manages assets of over `14,300 Crores.

During the financial year 2018-19, the company achieved Total Premium Income of over `2,800 crores. Exide Life Insurance distributes its products through multi-channels viz. Agency, Banc assurance, Corporate Agency & Broking, Direct Channel and Online. The Agency channel comprises of 45,000+ advisors who are attached to over 200 company offices across the country. The company also offers group life insurance solutions.

The company is focused on providing long term protection and savings solution plans.

The company has ISO 9001:2008 quality certification for all Customer Service processes and the ISO/IEC 27001:2013 for information security management.

For more information, please visit our website exidelife.in.

Our Shareholders About Exide Industries Limited - Exide is one of the largest manufacturers of electric storage batteries and powerstorage solutions provider in India with a market capitalization of over `20,000 crores*. Exide is backed by a nationwide network of 48,000 plus outlets and 180 plus sales & service touch points (*As on 31st March 2019).

With 7 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.

To know more about this product, please contact our nearest Branch Office.

Or call us at 1-800-419-8228 or visit www.exidelife.in Exide Life Elite Term Insurance Plan UIN:114N089V01. It is a Non-participating, Non-linked, Pure Risk Premium, Individual Life Insurance Plan. Exide Life Insurance Company Limited is a wholly owned subsidiary of Exide Life Industries Limited. The trademark “Exide Life� is owned by Exide Life Industries Limited and licensed to Exide Life Insurance vide Trademark license agreement dated 30th October 2014. Exide Life Insurance Company Limited. IRDAI Registration number: 114, CIN: U66010KA2000PLC028273, Registered and Corporate Office: 3rd Floor, JP Techno Park, No. 3/1, Millers Road, Bengaluru 560001,India. Toll Free: 1800 419 8228; Visit: Exide Lifelife.in. EXL/2020-21/COLL/034 Beware of Spurious Phone Calls and Fictitious/Fraudulent offers: IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.