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Exide Life Insurance

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Exide Life Insurance

Overview
Exide Life Insurance Co. Limited is headquartered in Bangalore and has a network of 50, 000+ advisors who are attached to more than 200 company offices in the country. The company is a wholly owned division of the iconic Exide Industries Limited. The company started operations from 2001-02 onwards and currently manages Rs. 11, 000+ crore in assets.

The company has a customer base exceeding 15 lakh people till now and notched up annual premium income of Rs. 2, 400 crore for 2016-17. The company has a diverse bouquet of long-term savings and term protection plans along with group insurance products.

Exide Life Insurance at a glance
  • 15 lakh+ customers till date
  • Over Rs. 2, 400 crore in premium income in the FY 2016-17
  • A network of 50, 000 + advisors and 200 offices
  • Premium income of Rs 2,409 crores as of 2017
  • Claim Settlement Ratio of 96.4% in 2016-2017

Documentation needed to apply for Exide Life Insurance
  • Age proof - (Any One)
    Driving License, Passport, Voter ID Card, Birth Certificate, etc
  • Identity proof – (Any One)
    Driving License, Passport, Voter ID card, PAN Card, Aadhar Card, or any document which proves citizenship
  • Income proof
  • Address proof – (Any One)
    Driving License, Passport and Utility Bill should clearly mention the permanent address
  • Income proof – (Any One)
    Salary Slip, Form 16, ITR
  • Recent passport size photograph

Exide Life Insurance Co. Limited Retirement Plans
There are several pension and retirement plans offered by Exide Life Insurance Co. Limited. These plans offer savings growth along with premium flexibility. There is extensive life coverage along with tax benefits. There is the Immediate Annuity Plan along with the Golden Years plan. These plans help you retire in style!

Exide Life Insurance Pension Plans
  • Exide Life New Immediate Annuity: A pension plan is a plan in which you pay once and you start receiving pension at a pre-decided frequency (choice of yearly, half yearly, quarterly, monthly payout options) for life with a guarantee of return of full purchase price in case of death of policy holder.
  • Exide Life Golden Years Retirement Plan: Exide Life Golden Years Retirement Plan is a unique plan that helps you make your retirement years the golden years of your life by offering a host of benefits for building a substantial corpus.

1: Exide Life New Immediate Annuity: This is a pension plan in which you pay once and you start receiving pension at a pre-decided frequency.

Advantages and Benefits
  • Life-long annuity payouts guaranteed for life
  • On demise, return of full purchase price
  • No medical examinations required
  • Pay only once in lump sum
Features Description
Min-Max age at entry Min age:
0 years* (for existing customers)
45 years* (for customers other than existing customers)
55 years* (for customers other than existing customers who were members of a United Kingdom (UK) Registered Pension Scheme wanting to transfer their pension corpus from UK into this scheme.)
Max age: 75 years for all.
Min-Max Spouse age at entry 35-99 years
Premium Payment Term Single Pay
Minimum Annuity Amount (per month) Rs. 1,000
Annuity Payout Mode Yearly, Half yearly, Quarterly, Monthly

https://www.exidelife.in/products/retirement-pension/annuity/exide-life-new-immediate-annuity-pension-plan

2: Exide Life Golden Years Retirement Plan:This plan is ideal for those who want to plan well for their retirement and ensure an independent life without compromising with their standard of living.

Advantages and Benefits
  • Capital guarantee with attractive returns
  • Flexibility - premium payment term and top-ups
  • Get 1/3rd of retirement fund tax free and use balance for life long pension
Features Description
Min-Max age at entry 18 Years – 65 Years
Min-Max age at vesting 55 Years - 75 Years
Premium Paying Term
Premium Payment Term  Vesting Term Allowed
Single Pay 10 - 42 years
Limited Pay: 5 – 9 years 10 years
Limited Pay (10 - 41 years)  and Regular Pay 15 - 42 years
Minimum Premium for Limited Pay/Regular Pay
Premium Payment Term  Minimum Annual Premium Minimum Monthly Premium
5 – 9 years Rs. 48,000 Rs. 4,000
10 - 42 years Rs. 24,000 Rs. 2,000
Minimum Single Premium INR 2,40,000
Premium paying frequency Yearly/Monthly

https://www.exidelife.in/products/retirement-pension/retirement/exide-life-golden-years-retirement-plan