Insurance Plans 128 views March 19, 2020

Exide Life My Money Back Plan

The Exide Life My Money Back Plan is an excellent life insurance policy that offers a life cover and the promise of regular payouts. Since it is an endowment life insurance plan, it offers the dual benefits of insurance and investment. You get a life cover and simultaneously, a maturity benefit when you outlive the policy period. This is a very advantageous life insurance plan that has many other benefits as well. Read on to know more.

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Benefits of buying the Exide Life My Money Back Plan

Listed below are all the benefits you get when you buy the Exide Life My Money Back Plan:

  1. Good insurer – To begin with, it must be stated that Exide Life is one of the best and fastest-growing private life insurance companies in India. It is thus a good idea for you to get your life cover from this company. They have a high claim settlement ratio of 96%. They also have a very good customer support team and you can get all your doubts cleared. The company is digitally strong too, so it becomes easy for you to buy your plan from them and maintain it too.
  2. Huge life cover – The Exide Life My Money Back Plan offers a high life cover. You can choose the sum assured in accordance with your needs. If you have many dependent family members, you can choose a higher cover and vice-versa. Assess your own needs and then choose the coverage amount you feel would be of greatest use and value to you.
  3. Inexpensive – The Exide Life My Money Back Plan offers an inexpensive life cover. The premium rates are quite affordable, making it possible for you to easily own this life insurance policy. The premium rate depends on the volume of the cover and the duration of the life cover.
  4. Assurance of timely payouts – Since this is a money-back plan, you get regular payouts from time to time. The payouts are given at pre-decided time intervals. They help you with your financial management and prove to be extremely helpful.
  5. Maturity benefit – Apart from the regular payouts, you also get a maturity benefit if you outlive the policy term. This is the benefit of the investment component of this policy
  6. Accidental death benefit – If you die in an accident, your family members get an added sum assured, known as the accidental death benefit
  7. Tax deduction – The premium you pay towards the Exide Life My Money Back Plan is tax-deductible, up to an annual sum of Rs 1,50,000. The provision is available under Section 80 C of the Indian Income Tax Act.

As you can clearly see from the points mentioned above, the Exide Life My Money Back Plan is loaded with features. It is, therefore, a good idea for you to buy this money back life insurance policy. You get a life cover at a low rate. You also get the handy payouts from time to time. Go ahead and buy the plan and stay protected in a wholesome manner.

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