Exide Life Insurance launches plan with guaranteed returns

MUMBAI: Private insurer Exide Life Insurance today said it has launched Assured Gain Plus, which is a traditional plan offering guaranteed benefits and returns on investment.

"This is a momentous occasion for us as this our maiden product after we rechristened ourselves with a new identity. We have designed this product based on an inherent need where people are looking at a superior quality of life and securing their future at the same time," Exide Life Insurance Chief Financial Officer Uco Vegter said in a release.

Assured Gain Plus caters to specific financial needs of customers to enable them grow their income as well as give them the flexibility to plan for a new investment, he said.

"Moreover, the plan caters to a wide segment of people aged from three to 60 years as well as guarantees a life cover of at least 10 times the annual premium of the full policy term. We believe this is a very competitively priced traditional plan," he said.

Other features of the plan are tax-free returns with capital guaranteed, life cover for the full policy term and premium for only for five years.

Exide Life Insurance Company, which commenced operations in 2001, is 100 per cent owned by Exide Industries.