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Exide Investment Plans

Exide Life Insurance Company

Exide Life Insurance Company Limited (previously called ING Vysya Insurance Company Limited) is a major player in the insurance market since 2001-02. With 15 lakh customers across the country, it is managing assets of over Rs. 9500 crores. The company is focussed on providing long term protection and savings solution plans thereby helping their customers lead a carefree life while supporting them with financial security. It operates through various channels including Agency, Bancassurance, Corporate Agency & Broking along with Direct Channels as well!

Exide Life Insurance Company Ltd. Investment Plans

Exide Life Insurance company offers a unit linked investment plans that not only provide life coverage, but also excellent returns on investment. The plans are designed to provide maximum benefits at a fraction of a cost to cater to different needs and individual requirements based on everyone’s financial strategies. These plans are simple to understand and easy to invest in.

Investment Plans Offered By Exide Life Insurance Company Ltd., With Features, Benefits And Eligibility

Exide Life Wealth Maxima

Features:

  • A unit linked investment plan to maximise return on investment
  • Offers 3 plan options with different life covers
  • 6 fund options to choose from to maximise returns on investment
  • Loyalty Benefits

Benefits:

  • Death Benefit: There are 3 options to choose from that offer different levels of live cover based on your life stage. You can move from one option to another within your plan to increase your life cover. The three options are:
    1. Maxima Invest: Under this option, the life cover paid at the time of death is higher of 10 times the annualized premium or fun value
    2. Maxima Family: Under this option, the life cover equals 10 times the annualized premium plus fund value
    3. Maxima Child: Under this option, not only the nominee gets paid the life cover, but also the additional benefit of premium funding. Life cover is equal to 10 times the annualized premium. Premium funding is a feature under which all future premiums will be waived off and the insurance company shall pay the future premiums. At the time of maturity, fund value shall be paid to the nominee
  • Maturity Benefit: If the policyholder survives the policy term, then at the time of maturity he shall receive fund value on maturity date as the maturity benefit
  • The company offers various investment strategies to select from for maximum returns:
    1. There are 6 different funds to choose from to invest your funds depending on your risk appetite. These are:
    2. Name of the Fund Risk Level
      Exide Life Active Allocation Fund High
      Exide Life Prime Equity Fund High
      Exide Life Growth Fund High
      Exide Life Active Allocation Fund Medium
      Exide Life Balanced Fund Medium
      Exide Life Secure Fund Low
      Exide Life Preserver Fund Low
    3. Systematic Transfer Fund: This helps in giving equity exposure to your funds in a systematic manner. Allocated premium is invested in Equity Life Preserver Fund and immediately afterwards, on every monthly anniversary, a fixed proportion of fund is transferred to Exide Life Prime Equity Fund
    4. Automatic Asset Rebuilding Strategy: This features manages the equity exposure of your fund automatically starting with high exposure to equity in the initial years of policy term and gradually decreasing it over the years and diverting funds to low risk funds towards the end of policy term.
  • There is an option for you to invest additional money as a top-up as and when you want to except in the last 5 years of the policy term
  • Loyalty Benefit: Loyalty additions are offered at the end of 10th, 15th and 20th policy years if base annualized premium paid is Rs. 72,000 or more. Loyalty additions are calculated as:
    2% of (fund value on last business day of current year + fund value on last business day of previous year) /2
  • Income tax benefits can be availed under section 80C and section 10 (10) D

Eligibility:

Minimum Entry Age Maxima Invest: 0 years | Maxima Family & Child: 18 years
Maximum Entry Age Maxima Invest: 65 years |Maxima Family: 55 years | Maxima Child: 50 years
Maximum Age at Maturity Maxima Invest: 75 years | Maxima Family: 70 years | Maxima Child: 65 years
Policy Term 10, 15 and 20 years
Premium Payment Term Equal to policy term
Premium Payment Frequency Yearly, half-yearly or monthly
Minimum Premium Yearly- Rs. 36,000 | Half-yearly- Rs. 24,000 | Monthly- Rs. 4000
Top-up Premium Minimum- Rs. 6000 | Maximum- Rs. 7,80,000
Sum Assured For age till 44- Annualized premium x 10 times | For age above 44 years- Annualized premium x (7 or 10)

Exide Life Wealth Elite

Features:

  • Unit linked insurance plan for maximum returns
  • Allocation and administration charges are reduced to enhance fund value
  • Option to choose from 7 fund options for investment
  • Comprehensive Life Cover is offered
  • Offer partial withdrawals

Benefits:

  • Maturity benefits: At the time of maturity of the policy, an amount equal to fund value is paid to the insured. There is also an option to receive fund value as a lumpsum amount or as deferred settlement
  • Partial withdrawals are offered after completion of 5 policy years
  • Death Benefits: In case the insured dies during the policy term, the nominee shall be paid a life cover amount that’ll be higher of:
    10 to 20 times annualized premium, or
    Fund value, or
    105% of the premiums paid
  • Different strategies are applied to enhance returns and following options are offered:
    1. Select from 7 fund options with unlimited free switches:
      Name of Fund : Risk Level
      Exide Life Midcap Fund : Very High
      Exide Life Prime Equity Fund : High
      Exide Life Active Asset Allocation Fund : High
      Exide Life Growth Fund : Medium
      Exide Life Balanced Fund : Medium
      Exide Life Secure Fund : Low
      Exide Life Preserver Fund : Low
    2. Automatic Asset Rebalancing Strategy: This ensures that your funds have high equity exposure during initial years of investment gradually decreasing over the years to low-risk funds towards the end of policy term
    3. Systematic Transfer Plan: Under this strategy, exposure to high-risk equity is gradually increased over a period of time. Initial investment is made in low risk funds and starting immediately, pre-decided proportion of funds are transferred to high or very high risk funds
  • Charges: The premium allocation charges for annualized premium of Rs. 5 lakhs and above, there are ZERO allocation charges in the first year and thereafter nominal charges is levied. From the 6th policy year, there are no administrative charges levied except on discounted policies. Fund management charges are levied on a daily basis and are capped at 1.35%. There are no charges on partial withdrawals, fund-switching or re-direction
  • There are income tax benefits under section 80C and section 10 (10) D

Eligibility:

Entry Age Min: 0 years | Max: 65 years
Maturity Age 75 years
Policy Term 10, 15 to 20 years
Premium Payment Term Regular Pay: 10, 15 to 20 years | Limited Pay: 10 years
Premium Payment Frequency Yearly, half-yearly or monthly