Every offering by Financial Institutions attempts to give its investor audience something tailor made to their needs. A new one- Exide Life Income Advantage Plan by Exide Life Insurance, goes a step further and allows the investor to pick from two options allowing them to customise the payment terms based on their needs. But before we get into that, let us look at what the plan has to offer.
What is the Exide Life Income Advantage Plan?
The plan is a savings cum insurance plan that enables the investor to get a guaranteed income from their investment, with a variable bonus along with insurance cover.
The plan is ideal for an individual who has just started working or is in their mid-career, this allows them to plan better for the later part of their lives- be it a family or retirement.
The plan does not purport to give the investor wealth beyond their dreams but rather a substantial amount that acts as an income top up.#IncomeKaTopUp
How It Works
The policy terms are of 16, 24 and 30 years duration.
The policy holder pays the premium in the first half of the policy.
In the second half, he or she can pick from the following options:
-To receive incomeplus bonuses, if any every year during the second half
-To receive income every year during the second half plus accumulated bonuses, if any as a lump sum at the end of the term
Depending on the stage of life of the investor, you can pick the one that works for you.
Here is a short video that explains how the top up can be utilised:
Why You Should Invest:
- The Investor receives a guaranteed income
- The policy holder is covered through the entire term of the plan
- Customisable pay-out cycles
- The investor pays only in the first half of the policy
While we don’t know what the future holds, it is important that we plan ahead. This policy with its savings cum insurance option gives you a double advantage that can be used later in life.
The product acts an income supplement and can be utilised as the video shows when job expectations don’t materialise or if you would like to indulge yourself on a holiday that year.
From one of the leading brands in the Insurance market, this product from Exide Life Insurance is definitely one you should explore. Go through the plan offered thoroughly and then decide whether you would like to avail of the Exide Life Income Advantage Plan.
Disclaimer– Please note that Past performance is not an indication of future performance. Bonus for future years are not guaranteed and may vary depending on the fund performance. For more details on risk factors, terms and conditions, please read the sales brochure of the mentioned product carefully before concluding the sale.
