Exide Pension Plans

Exide Pension Plans
  • Good Claim Settlement Ratio
  • 24X7 Customer Assistance
  • 200+ Branches All over Country
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About Exide Life Insurance Company

Exide Life Insurance is one of the prominent life insurance companies in India. The company has experience of many years in the same domain. Started in 2001, the company caters to a wide range of innovative insurance plans to deal with several needs of customers.

The company claims to drive business by values of Dependable, Dynamic, Responsive and Foresighted. The company has received several awards for its commendable services and keeps on coming out with new products to assist customers.

  • Claim Ratio: The company carries a good claim settlement ratio of 96.81% which is quite good enough.
  • Customer Assistance: The company has dedicated teams to provide ease to customers 24*7 without any hassle.
  • 200+Branches: To make it easily accessible the company has 200+ branches with more than 50000 agents all over the country.
Exide Pension Plans
HeadquarterBangalore
Business lineLife Insurance
Claim Ratio96.81%
Branches200+

Exide Life Pension Plans In India

Exide Life Insurance Company is offering multiple pension plans in India that are designed perfectly to secure your retirement at an affordable cost.

1. Exide Life Golden Years Retirement Plan

Exide Life Golden Years Retirement Plan helps you to make your retirement years the golden years of your life by offering a host of benefits for building a substantial corpus. It's for a conventional long-time period pension plan beneath which all charges paid will be compounded at a minimum of 1% p.a. You could regulate the premium charge period by choosing regular or single pay. The plan additionally gives loyalty benefit to the policyholder in the form of refunded premium allocation costs on accomplishing retirement age.

Key Features of Exide Life Golden Years Retirement Plan

  • Guaranteed Growth: With this pension plan, your account will keep on growing at an interest rate declared every year. It is related to the performance of the fund.
  • Flexibility: The plan will come out with multiple flexibilities such as top-up premium and premium paying options among others.
  • Guaranteed vesting Benefit: On completion of the vesting period, the company will provide a higher of the gross premium of the individual pension account value.
  • Life Cover: The plans also carry features of life cover which means you will get benefits if life insurance coverage as well.

Eligibility of Exide Life Golden Years Retirement Plan

Minimum / Maximum Age at Entry18-65 Years
Minimum & Maximum Vesting Age55-75 Years
Annuity optionsGuaranteed for life
Minimum single premium2,40,000

2. Exide Life New Immediate Annuity

It is a pension plan under which a person has to pay once and will start receiving a pension at a pre-decided frequency. You can choose the annuity payout month-to-month, quarterly, half-yearly or yearly. In the case of the demise of the insured, the nominee or the legal inheritor gets the full purchase price. No Medical Examination is required to get insured under this plan.

Key Features of Exide Life New Immediate Annuity

  • Life-Long Annuity Payments: By investing a lump sum amount, this plan will offer regular income (annuity) at a chosen frequency for the rest of the insured's life.
  • Flexible Options to Receive Annuity: You have the opportunity to receive annuity payments on a yearly, half-yearly, quarterly or monthly as per your financial needs.
  • Full Refund: In case of demise, the nominee would be able to receive a full refund of the Purchase Price
  • Easy to buy: There is no medical examination required to get insured under this plan which makes it easier to buy.

Eligibility of Exide Life New Immediate Annuity

Minimum Age at Entry0 years* (for existing customers)
45 years* (for customers other than existing customers)
Maximum age at Entry80 Years
MaturityNot Applicable
Minimum- Maximum Purchase priceRs.1000-No Limit

3. Exide Life My Retirement Plan

It is a participating pension plan which allows you to live an independent life without compromising on your living standards and enjoy your post-retirement days happily. It is a limited premium payment term plan that offers guaranteed vesting benefits.

Key Features of Exide Life My Retirement Plan

  • Guaranteed Benefit on Maturity (also known as Vesting Benefit): Again in this plan as well, you will get the guaranteed vesting benefit on Maturity.
  • Retirement Corpus Boosters: Exide Life My Retirement Plan offers multiple retirement corpus boosters such as Annual Simple Reversionary Bonus and Terminal Bonus to offer enhanced results.
  • Limited Premium Payment: The plan has the option of policy term between 10 to 30 years (both inclusive), you can pay the premium for a shorter term as well.
  • Life Insurance: The plan offers the benefit of life insurance cover. In case of the demise of the insured, the amount will be paid to the nominee.

Eligibility of Exide Life My Retirement Plan

Minimum /Maximum Age at Entry25/70 Years
Minimum/ Maximum Age at Maturity (Vesting)55 to 80 years
Maximum PremiumNo- Limit
Premium Payment FrequencyAnnual, Monthly

4. QROPS

QROPS stands for Qualifying Recognized Overseas Pension Scheme. It refers to overseas pension schemes for transferring a UK pension fund 'tax-free' to any other country.

Key Features of QROPS

  • Better appreciation opportunity: Allows you to watch your funds grow in a Capital Guaranteed Plan. Under it, the accumulated fund each year is the Guaranteed Capital.
  • Attractive Annuity Rates: Help you in getting attractive annuity rates (rate of 7.35% at age 60 on a Purchase Price of 25 Lacs).
  • NRE Account: It also offers the option of receiving your Pension Benefits into your NRE Account.

What are Exide Life Pension Plans?

To revel in your retirement years, you need to plan. Exide Life Insurance company limited offers retirement and pension plans designed to present you with a complete life cover and a boom in your financial savings. Exide life Retirement and Pension Plans provide you flexible premium price options and tax benefits.

Everybody dreams of the day when they can ultimately dangle the boots up and retire in peace, but that dream is most usually shattered by means of the prospect of getting to live in retirement struggling to find a source of income. They offer you the opportunity to spend money on their pension plans today to be capable of retiring and still have a source of profits to deal with your requirements.

Benefits Of Exide Life Retirement And Pension Plans

Following are the benefits of choosing Exide Life Pension Plans:

  • Life cover: The Exide Life Retirement plan gives a complete life cover in case of the demise of the insured and guaranteed benefits on vesting.
  • Premium: You can pay an additional premium to ensure your retirement fund grows at a quicker tempo.
  • Flexible Premium Payment: You can pick regular, single pay choice to make premium payment under the Exide Life Retirement Plans.
  • Regular Financial Savings: Saving as low as Rs.2,000 in step with a month under the Exide life Retirement Plans can make sure you build an awesome retirement corpus.
  • Maturity Benefit: Get guaranteed maturity advantage below the Exide Life Pension Plans. You could get 1/3 of the maturity amount tax-free cash. The rest can be used to buy an annuity from Exide Life Insurance so that you can get regular income for life.
  • Loyalty Advantage: When you attain the retirement age, the premium allocation costs might be refunded in your pension account.
  • Tax Advantage: You could save tax on charges paid under segment 80C of the Income Tax Act, 1961.

Why Exide Life Pension Plan?

An Exide Life Insurance plan takes care of your retirement desires and your family in case something happens to you. As you study this, there are opportunities - you could stay, or you may die. If you die, who's going to attend to your family? And if you live, who's going to take care of you? The Exide Life Pension Plans is the answer to each question. For a small investment now and again, or at one cross - you can financially protect your dependents with comprehensive life insurance cover. Further to receiving a complete life cover, you could also construct a preferred retirement fund. You have got the choice of using a maturity amount to buy the annuity from Exide life coverage and make sure that you get normal profits for life. You may also experience tax advantages on charges paid below the Exide Life Pension Plans.

FAQs

The great time is to start quickly after one starts off evolved incomes. This guarantees an extended length of the budget to develop and minimum installment amounts to pay towards the plan.

Sure, you can switch it via QROPS. Please consult with our NRI section to examine more.

Begin early to invest in retirement plans use the retirement calculator to check how a whole lot corpus you need to build out the perfect payout mode to meet your economic goals post-retirement.

To recognize the repute of your utility, visit the company's website. You must fill the details in the track sheet to know your status.

The claim must be informed at the earliest and you could refer the following hyperlink to avail the death benefits form through their official internet site.

You can change your correspondence address post issue of the policy by filing a written request and address proof at the nearest branch.

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Last updated on 11-11-2019