Bangalore: Exide Life Insurance Company Limited today announced the launch of Exide Life Jeevan Uday – a traditional participating life insurance plan which offers protection while enabling customers to save for their future in a disciplined manner.
Exide Life Jeevan Uday has been designed keeping in mind the aspirations of India’s middle class. The plan is affordable and a customer can start by paying as little as Rs 4000 for half yearly premium or Rs 6000 for annual premium. The plan offers life cover of up to 10 times the premiums paid and is eligible for tax deductions under section 80 C. A unique feature of the plan is extended life cover wherein the policy continues to remain in force even if the customer misses paying a year’s premium. Customers can choose a policy term of 10, 15 or 20 years. Maturities benefits are tax free under provisions of section 10(10) D for customers who are less than age of 45 at the time of buying the policy.
Commenting on the launch of Exide Life Jeevan Uday, Mr. Rahul Agarwal, Chief Distribution Officer,Exide Life Insurance, stated, “With increasing life expectancy and cost of living, it has become essential for every individual to save for the future. We recognize that there is a large segment of customers who want to live their dreams but have lower disposable incomes as of today. Exide Life Jeevan Uday allows people to save by paying premiums regularly and helps prepare them financially for a long and happy life.”