Insurance! Exide Life Launches ‘Guaranteed Wealth Plus’ Insurance Plan: Check All Features

By Last updated Dec 23, 2021

Guaranteed Wealth Plus plan is a non-participating individual life insurance savings pla @unsplash.com

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Leading life insurer Exide Life Insurance on Friday, May 21, announced the launch of its new life insurance plan – ‘Guaranteed Wealth Plus’, which aims to provide a life insurance scheme with maturity benefits and in-class guaranteed returns for policyholders. According to a statement shared by the insurer, the new life insurance plan will help customers fulfill their financial requirements across various stages of life, and offer flexibility to choose variants.

According to Exide Life Insurance, some of the major features of the new insurance product are as follows:

Choosing from the regular income or a lump sum payout option
Availing guaranteed fixed income for 30 years
Only product in the market to offer life cover throughout the income period
Best-in-class returns with up to 350 per cent guaranteed returns

The Guaranteed Wealth Plus plan is a non-linked, non-participating individual life insurance savings plan which provides the option to choose between two variants for policyholders.

As per details shared by the insurer, under the ‘income’ variant, customers can pay premiums for six years and avail of the guaranteed fixed income payout for 30 years. Upon maturity, the policyholder receives 100 per cent of the premiums paid.

The ‘income’ variant is a suitable payout option for those who want an additional stream of income or a regular cash flow, in order to fulfill their financial goals at various stages of life, such as a child’s education, household requirements, etc.

Meanwhile, under the ‘lump sum’ variant, customers can pay premiums for six years and avail of the maturity benefit as a lump sum while reaping benefits of the life cover for the entire policy term.

This offers life cover during the entire income payout period, empowering the protection-cum-returns proposition. Within specific age bands and depending upon the policy term, the maturity benefit also remains the same, irrespective of the entry age, said the insurer.

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