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Exide Life Insurance Launches Exide Life Star Saver - A Limited Payment Savings Cum Insurance Plan

318 Days ago

Business Wire India

  • The plan offers a Guaranteed Tax-Free Maturity Benefit*
  • Premium Payment Term = 5 years
  • 3 Policy Term Options = 10,12 or 15 years
  • Double Life Cover in event of an accident
  • Maximum age allowed at entry is 60 years   

Exide Life Insurance, an established and profitable life Insurance company today announced the launch of “Exide Life Star Saver” - a limited payment savings cum insurance plan. Exide Life Star Saver offers guaranteed tax-free* maturity benefit along with comprehensive protection over the entire policy term.
Under Exide Life Star Saver, you are required to pay premiums only for 5 years, while you continue to enjoy life cover over the entire policy term. You can choose from 3 policy term options of 10, 12 or 15 years. On staying invested for the chosen policy term, you get a guaranteed lump sum amount on maturity, which is tax-free*. In addition to the life cover amount, you get an additional life cover of an equivalent amount in case of an unforeseen event due to an accident.

You can enhance protection under this plan by opting for riders by paying a nominal additional premium, where you can choose from Exide Life Critical Illness Rider to cover up to 25 critical illnesses or Exide Life Term Rider to double your base life cover.

Commenting on the launch of Exide Life Star Saver, Sanjay Tiwari, Executive Vice President – Products Management at Exide Life Insurance said “When you have a guarantee on returns, you can easily plan your family’s dreams with confidence. Exide Life Star Saver, a simple & easy to understand plan, has been designed on this philosophy by assuring a tax-free* maturity benefit depending on choices made by the customer while purchasing this plan. Any person up to the age of 60 years can invest in this plan by paying a minimum of INR 24,000/- as annual premium for 5 years.”
*Under this plan, you enjoy tax benefits on premiums paid and maturity payouts as per Income Tax Act 1961 (amended from time to time)
Please refer to the attached product flier for more details.
About Exide Life Insurance Company Limited:
Exide Life Insurance Company Limited commenced operations in 2001 and is headquartered 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, Bancassurance, 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.
Photo Caption: Exide Life Star Saver Flier

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