Securing the financial future of the family and fulfilling their requirements is the most important thing that we plan. ELNFL endeavours to protect the future of a person and ensures that the policyholders get the financial protection if any unwanted condition happens. In such a situation the Exide life insurance aims to help them secure the future of the policyholder’s family.
ELNFL is a money back policy of traditional nature which proved to be a key player in the life insurance sector. It is made available with the facility of money back and creates savings as well as life coverage. If you want to avail this plan, then it is important for you to know about the key features and benefits of this policy.
What are the Key Characteristics of ELNFL?
1. The ELNFL insurance terms for premium paying are 12, 16, 20 and 24 years.
2. Being a participating plan, this policy is having a regular payment term.
3. Policy term of the plan will be calculated by deducting age of entry of the policy buyer from 85.
4. Maturity benefits include the sum assured plus vested bonus (in case eligible) plus terminal bonus (in case if eligible).
5. If the policy lapses, it can be reinstated within two years of the first premium amount which is unpaid, provided the dues are cleared and there are no penalties left.
6. Alterations are not permitted by the Exide life insurance and the nomination facility is as per the provision of Indian Insurance Act.
7. The ELNFL policy covers survival, maturity, as well as the death benefit.
Key benefits of ELNFL
Below mentioned are the major benefits you will get if you make an investment with ELNFL Plan. Scroll down to check:
1. Maturity benefit – When you take the ELNFL policy, you will get the maturity benefit which will be the summation of assured amount plus vested plus terminal bonus (based on the rule) at time of policy maturity.
2. Survival benefit – Taking this policy by Exide Life insurance entitles you to enjoy survival benefit which will come at regular intervals, based on the term of premium payment you opt with the company.
3. Benefit on Death – If unfortunately, you as a policyholder die while your Exide Life insurance policy is running, your nominated person will get benefit on your death which is equal to the amount that is sum of the promised vested bonuses, death benefits, as well as terminal bonuses (which will be applicable as per rule).
4. Tax benefits – As a policyholder, you are eligible to get tax benefits. These benefits are on the premium amount that you pay to Exide Life insurance as well as the amount which you received after maturity or survival under the Sections 80C as well as/Or 10(10D) framed under IT Act.
5. Discounts – If as members you decide to go with higher premiums, you will be given special discounts.
6. Loans – If you are a policyholder, you get the eligibility to make application for availing any loan under specific conditions.
7. Flexible – The ELNFL gives the flexibility to its members for selecting the term for premium payment as per the convenience and they can also choose to make the payment of annual or monthly premium.
8. Guaranteed death benefit – The policy guarantees death benefits which are equal to either higher of the SA value or 10 times of the premium paid annually.
In order to secure the financial future of your loved ones, you can make ELNFL your choice. To know more about the life insurance options with Exide Life insurance and compare it with various other options you can visit Coverfox. Here you can easily make a comparison between the life insurance plans by Exide and other companies. It will give you an insight into the details and you can make a better decision. After making the analysis, if you find this Exide Life insurance suitable for you then you can go for it.
Your family and loved ones are special for you and in order to get the best protection for them considering all the potential risk and losses, the comparison of various insurance policies will help you in making the decision of taking the perfect insurance cover that suits your requirement and budget. Ensure to get covered by the best life insurance policy.