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Introduction
Exide Life Prospering Life Plus is a Unit Linked Insurance plan which aims to maximize wealth by capital market participation and at the same time, provide life insurance coverage
Policy Benifit
Loyalty Additions as a % of Fund Value are added on death or maturity for premium rates equal to or higher than Rs.96,000 The insured will get the Fund Value including top-up Fund Value on Maturity The Maturity Value can be taken partly in lump sum and partly in instalments over a period of 5 years starting at 20% and increasing by 20% every year On death of the policyholder, higher of the Sum Assured including top-up Sum Assured or 105% of all premiums paid till death or Fund Value including top-up Fund Value is paid Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.
Policy Details
Grace Period: 15 days grace is allowed for premium payment in monthly mode and 30 days in annual mode failing which the policy lapsesPolicy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Linked Discontinued Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim. Inclusions Partial withdrawals are allowed every year after 5 completed policy years with a minimum value of Rs.6,000 Unlimited free Switches are allowed every year for switching between funds Unlimited free Premium Redirections are allowed for redirecting future premiums Top-up premiums can be paid any time to increase the fund value with a minimum of Rs.6000 The corresponding top-up SA will be 1.25 times the top-up premium for ages<45 yrs. or 1.10 times for ages >=45 yrs. Exclusions The benefit paid in case of suicide within 12 months of policy inception or revival is the fund value as on that date.
What is Mediclaim?
The ever increasing cost of healthcare and the rise of lifestyle diseases have made it necessary to have health insurance in India. Further, medical emergencies are expensive and having a mediclaim health insurance policy can help ease the financial strain that comes with hospitalization. A mediclaim plan is an insurance product that offers health cover up to the sum insured in the case of hospitalization. The insurer either reimburses or enables you to have cashless hospitalization giving you the freedom to focus on your treatment and recovery. An online Mediclaim health insurance renewal plan can easily be done to ensure continued benefits as it is issued for a specific period of time.
Key benefits of mediclaim insurance
The best mediclaim insurance policy cover provides medical cover for treatment outside India. This is subject to predetermined conditions set by the insurer but is availed by most insurance companies. Although premiums payable on mediclaim policies differ from one insurer to the other, requesting for a mediclaim insurance quote with the proper information will provide you with the best cover based on the term of the plan, age and the sum insured. Claims policy for a mediclaim plan differs among insurance providers. Compare mediclaim insurance policies to ensure you get one that suits your needs. This is because some insurance firms opt to reimburse claims on the provision of proof while others opt for cashless payments through a TPA. With the payment of one premium, you can provide a mediclaim family cover that may also make you eligible for discounts. This is however dependent on the insurance provider compare mediclaim plan providers for the best discounts. Although the age range that can be insured varies between insurance providers, most insurance companies insure persons between 5-80years. Online mediclaim insurance information provided by insurance companies can guide you to find an insurer that covers your needs accordingly. A mediclaim insurance plan also makes you eligible for tax savings under Section 80D of up to Rs 15,000. These benefits increase as the number of persons and age of persons covered increase. A mediclaim insurance plan comes with a wide range of cover types available. Depending on your needs, chose the best mediclaim health insurance policy available.
Key Features
It is a unit linked plan with Regular and Limited Pay premium payment option Under the Automatic Asset Re-balancing strategy, the allocated premium is invested in a pre-determined ratio between the Equity and Debt oriented funds. The ratio is rebalanced every year and the funds are invested majorly in debt oriented funds towards maturity to protect the returns against market fluctuations The following 6 funds are available for investment Exide Life Prime Equity Growth Fund Balanced Fund Secure Fund Exide Life Preserver Exide Life Active Asset Allocation
Details about Premium
Annual Premium in Rupees and Benefit Illustration
Documents Required
Policyholder has to fill up an `Application form/ proposal form with accurate medical history and submit KYC documents. ING Vysya Life Insurance gets Rechristened to Exide Life Insurance
Difference between mediclaim and health insurance
Health insurance products are based under two categories – indemnity such as mediclaim and benefit policies which are the traditional insurance policies. ⦁ A mediclaim insurance policy only caters for your medical expenditure while a health insurance policy provides for a sum assured benefit if the policyholder is unable to earn an income. ⦁ Health insurance policies offer a policyholder financial benefit up-front without necessarily requiring submission of proof such as hospital bills for the conditions insured against. ⦁ Mediclaim plans compensate for only the expenses incurred during your hospitalization, on the submission of proofs. However recent advancements enable for cashless hospitalization up to the sum insured in the policy.
Types of mediclaim health insurance policies available in India:
⦁ Individual Mediclaim plan for the individual who seeks medical cover. ⦁ Family floater plan where the whole family is covered in one insurance plan. ⦁ Group Mediclaim plan ideal for an organization that seeks to offer hospitalization benefits to their employees ⦁ Overseas mediclaim insurance policy caters for your hospital expenses while outside India. ⦁ Senior Citizen and critical illness Mediclaim plan which caters for those over 60 years and those suffering from fatal illnesses are also covered.
Introduction
Exide Life Prospering Life Plus is a Unit Linked Insurance plan which aims to maximize wealth by capital market participation and at the same time, provide life insurance coverage
Policy Benifit
Loyalty Additions as a % of Fund Value are added on death or maturity for premium rates equal to or higher than Rs.96,000 The insured will get the Fund Value including top-up Fund Value on Maturity The Maturity Value can be taken partly in lump sum and partly in instalments over a period of 5 years starting at 20% and increasing by 20% every year On death of the policyholder, higher of the Sum Assured including top-up Sum Assured or 105% of all premiums paid till death or Fund Value including top-up Fund Value is paid Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.
Policy Details
Grace Period: 15 days grace is allowed for premium payment in monthly mode and 30 days in annual mode failing which the policy lapsesPolicy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Linked Discontinued Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim. Inclusions Partial withdrawals are allowed every year after 5 completed policy years with a minimum value of Rs.6,000 Unlimited free Switches are allowed every year for switching between funds Unlimited free Premium Redirections are allowed for redirecting future premiums Top-up premiums can be paid any time to increase the fund value with a minimum of Rs.6000 The corresponding top-up SA will be 1.25 times the top-up premium for ages<45 yrs. or 1.10 times for ages >=45 yrs. Exclusions The benefit paid in case of suicide within 12 months of policy inception or revival is the fund value as on that date.
What is Mediclaim?
The ever increasing cost of healthcare and the rise of lifestyle diseases have made it necessary to have health insurance in India. Further, medical emergencies are expensive and having a mediclaim health insurance policy can help ease the financial strain that comes with hospitalization. A mediclaim plan is an insurance product that offers health cover up to the sum insured in the case of hospitalization. The insurer either reimburses or enables you to have cashless hospitalization giving you the freedom to focus on your treatment and recovery. An online Mediclaim health insurance renewal plan can easily be done to ensure continued benefits as it is issued for a specific period of time.
Key benefits of mediclaim insurance
The best mediclaim insurance policy cover provides medical cover for treatment outside India. This is subject to predetermined conditions set by the insurer but is availed by most insurance companies. Although premiums payable on mediclaim policies differ from one insurer to the other, requesting for a mediclaim insurance quote with the proper information will provide you with the best cover based on the term of the plan, age and the sum insured. Claims policy for a mediclaim plan differs among insurance providers. Compare mediclaim insurance policies to ensure you get one that suits your needs. This is because some insurance firms opt to reimburse claims on the provision of proof while others opt for cashless payments through a TPA. With the payment of one premium, you can provide a mediclaim family cover that may also make you eligible for discounts. This is however dependent on the insurance provider compare mediclaim plan providers for the best discounts. Although the age range that can be insured varies between insurance providers, most insurance companies insure persons between 5-80years. Online mediclaim insurance information provided by insurance companies can guide you to find an insurer that covers your needs accordingly. A mediclaim insurance plan also makes you eligible for tax savings under Section 80D of up to Rs 15,000. These benefits increase as the number of persons and age of persons covered increase. A mediclaim insurance plan comes with a wide range of cover types available. Depending on your needs, chose the best mediclaim health insurance policy available.
Key Features
It is a unit linked plan with Regular and Limited Pay premium payment option Under the Automatic Asset Re-balancing strategy, the allocated premium is invested in a pre-determined ratio between the Equity and Debt oriented funds. The ratio is rebalanced every year and the funds are invested majorly in debt oriented funds towards maturity to protect the returns against market fluctuations The following 6 funds are available for investment Exide Life Prime Equity Growth Fund Balanced Fund Secure Fund Exide Life Preserver Exide Life Active Asset Allocation
Details about Premium
Annual Premium in Rupees and Benefit Illustration
Documents Required
Policyholder has to fill up an `Application form/ proposal form with accurate medical history and submit KYC documents. ING Vysya Life Insurance gets Rechristened to Exide Life Insurance
Difference between mediclaim and health insurance
Health insurance products are based under two categories – indemnity such as mediclaim and benefit policies which are the traditional insurance policies. ⦁ A mediclaim insurance policy only caters for your medical expenditure while a health insurance policy provides for a sum assured benefit if the policyholder is unable to earn an income. ⦁ Health insurance policies offer a policyholder financial benefit up-front without necessarily requiring submission of proof such as hospital bills for the conditions insured against. ⦁ Mediclaim plans compensate for only the expenses incurred during your hospitalization, on the submission of proofs. However recent advancements enable for cashless hospitalization up to the sum insured in the policy.
Types of mediclaim health insurance policies available in India:
⦁ Individual Mediclaim plan for the individual who seeks medical cover. ⦁ Family floater plan where the whole family is covered in one insurance plan. ⦁ Group Mediclaim plan ideal for an organization that seeks to offer hospitalization benefits to their employees ⦁ Overseas mediclaim insurance policy caters for your hospital expenses while outside India. ⦁ Senior Citizen and critical illness Mediclaim plan which caters for those over 60 years and those suffering from fatal illnesses are also covered.