India-based Exide Life Insurance has rolled out an insurance-savings plan that provides guaranteed money back pay-outs, maturity benefit as well as life insurance cover.
Dubbed ‘My Money Back Plan’, the new life insurance policy enables insureds to select the modality of interval payments.
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The policy holder will start receiving guaranteed money back payouts as survival benefit at fixed intervals even as he continue paying premiums.
Based on the future needs, the policyholders can choose how they want to receive their money back payouts.
Additionally, double life insurance cover is paid to the beneficiary in case of demise due to an accident.
In case death happens due to accident, an additional amount equal to the death benefit is payable. The cover with regard to additional accidental death benefit will start on the date of life assured attaining age 18 years or risk commencement date whichever is later.
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By GlobalDataDeath benefit amount will be paid as a lump sum on death of the life assured during the policy term and the policy will terminate with the payment of death benefit.
