Investment Plans 749 views July 24, 2021

Exide Life Sampoorna Jeevan Plan is a non-linked, participating individual life insurance savings policy that provides your family financial protection against unfortunate death. The key features of the plan are as follows:

  1. Life cover for up to the age of 75 or 100 years
  2. Option to choose Guaranteed Income Benefit
  3. Maturity Benefit
  4. Death Benefit

To know more about these benefits of the Exide Life Sampoorna Jeevan Plan, read this page further.

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Exide Life Sampoorna Jeevan Plan Death Benefit

In case of your death during the policy term, the insurer shall pay the following to the beneficiary:

Sum Assured on Death + Vested + Simple Reversionary Bonuses or Vested Simple Reversionary Income Bonus + Cash Bonus + Vested Paid-up Additions + Terminal Bonus.

Note: The death payout shall exclude the already paid bonuses and paid-up additions.

The Sum Assured on Death is the highest of the following: 

  1. 10X the annualized premium if entry age is < 45 years or 7X the annualized premium if the entry age is > 45 years
  2. Minimum Guaranteed Sum Assured on Maturity
  3. Absolute amount assured to be paid on death
  4. 105% of the total paid premiums excluding rider premium, underwriting extra premium and taxes, if any

The death benefit is payable in a lump sum, and after the payment of the same, no further benefits shall be payable under the policy.

Note: If any survival benefit is paid after the date of death due to delayed intimation, the company will deduct the already paid survival benefit from the death benefit.

Exide Life Sampoorna Jeevan Plan Survival Benefit

You’ll receive survivor benefits during the policy term as per your chosen options.

Option A: Lump Sum Option 

In this option, you’ll receive the guaranteed maturity benefit on the maturity date

Option B: Income Option 

Here, you will start receiving Guaranteed Income Benefit equal to 5% of the Basic Sum Assured yearly from the first policy anniversary after the completion of the premium payment term till the end of the policy term.

Option C: Lump Sum with Income Option

You will get an amount equal to 100% of the Basic Sum Assured at the end of the policy year after attaining the age of 60 years. The Guaranteed Income Benefit is equal to 10% of the Basic Sum Assured for Sampoorna Jeevan 75 Variant and 5% of the Basic Sum Assured for Sampoorna Jeevan 100 Variant. You will start receiving this benefit yearly on every policy anniversary till the end of the policy term after attaining the age of 61 years.

Option D: Income with Lump Sum Option

After attaining the age of 61 years, you will start receiving the income payout. The Guaranteed Income Benefit is equal to 10% of the Basic Sum Assured for Sampoorna Jeevan 75 Variant and 5% of the Basic Sum Assured for Sampoorna Jeevan 100 Variant. You also get an amount equal to 100% of the Basic Sum Assured at the end of the policy term.

Note: You can choose your guaranteed benefit at the policy inception. Once the option is chosen, it cannot be changed during the policy term.

Exide Life Sampoorna Jeevan Plan Maturity Benefit

Upon survival till the end of the policy term, you’ll receive the payout as chosen at inception.

Option A: Lump Sum Option 

You’ll receive 100% of the Basic Sum Assured + Applicable Bonus + Terminal Bonus if declared

Option B: Income Option 

You’ll get the applicable bonus + terminal bonus if declared along with the last Guaranteed Income Benefit.

Option C: Lump Sum with Income Option

The insurer shall pay the applicable bonus + terminal bonus if declared along with the last Guaranteed Income Benefit.

Option D: Income with Lump Sum

100% of Basic Sum Assured Option + Applicable Bonus + Applicable Terminal Bonus, if declared, shall be payable.

Exide Life Sampoorna Jeevan Plan Eligibility Criteria

You need to meet the following age criterion to purchase the Exide Life Sampoorna Jeevan Plan:

For Sampoorna Jeevan 75

Premium Payment Term (In Years)Minimum Age at Entry (In Years)Maximum Age at Entr (In Years)
61260 for Guaranteed Benefit Option A and 54 for others
81060 for Guaranteed Benefit Option A and 52 for others
10860 for Guaranteed Benefit Option A and 50 for others
12658 for Guaranteed Benefit Option A and 48 for others
15355 for Guaranteed Benefit Option A and 45 for others

For Sampoorna Jeevan 100

Premium Payment Term (In Years)Maximum age at entry (In Years)
660 for Guaranteed Benefit Option A, 54 for Option B, 45 for Option C and 54 for Option D
860 for Guaranteed Benefit Option A, 52 for Option B, 45 for Option C and 52 for Option D
1060 for Guaranteed Benefit Option A and 50 for Option B, 45 for Option C and 50 for Option D
1260 for Guaranteed Benefit Option A, 48 for Option B, 45 for Option C and 48 for Option D
1555 for Guaranteed Benefit Option A and 45 for others

Note: The minimum age at entry is 18 years for Sampoorna Jeevan 100 variant.

Suicide Clause

In case the life assured dies due to suicide within 12 months from the date of commencement of risk or revival of the policy, the insurer pays higher of the following to the nominee:

  1. 80% of the total premium paid till the date of death
  2. Surrender value available as on the date of death

Free Look Period

If you disagree with any of the terms and conditions of the policy, return the same within 15 days of the free look period, which starts from the date of receipt of the policy document. Upon cancellation during the said duration, the company returns the paid premium after the deduction of a proportionate risk premium for the period on cover, medical examination fees (if any) and stamp duty charges. If you purchase the policy through distance marketing, the free look period is 30 days.

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