Exide Life New Immediate Annuity with Return of Purchase Price is a pension plan offered by Exide Life Insurance Company Limited. You have to pay premium just once and receive pension for life. You can decide at what frequency you want to receive the pension; monthly, quarterly, half-yearly, and yearly.
If you have saved funds for your retirement period and want to ensure a regular income for the rest of your life, then this pension plan is suitable for you. Under this plan, you get the following benefits:
In the unfortunate event of death of the policyholder, you can get guaranteed return of full purchase price of the policy.
Listed below are the eligibility factors that you must meet to purchase Exide Life New Immediate Annuity with Return of Purchase Price:
|Minimum entry age of existing customers||0 years|
|Minimum entry age of new customers||45 years|
|Minimum entry age of QROPS customers||55 years|
|Maximum entry age||75 years|
Listed below are the required PPT, purchase price, annuity payout frequency, and annuity amount for Exide Life New Immediate Annuity with Return of Purchase Price:
|Premium Payment Term (PPT)||Single Premium|
|Annuity Payout Frequency||Monthly, quarterly, half-yearly or yearly|
|Minimum Annuity Amount||Rs.1,000 per month|
Minimum purchase price depends on the minimum annuity amount and there is no limit on maximum purchase price.
*Premiums vary based on age, location, plan term and other factors.
This is how Exide Life New Immediate Annuity with Return of Purchase Price works:
Choose the premium payment term, annuity amount, and the annuity payout option before filling up the application form for Exide Life New Immediate Annuity with Return of Purchase Price. Enjoy the following benefits under this pension plan
|Half-yearly||48.5% of yearly annuity|
|Quarterly||23.75% of yearly annuity|
|Monthly||7.75% of yearly annuity|
|Band 1||Less than Rs.1,00,000|
|Band 2||Rs.1,00,000 to less than Rs.2,50,000|
|Band 3||Rs.2,50,000 to less than Rs.5,00,000|
|Band 4||Rs.5,00,000 to less than Rs.25,00,000|
|Band 5||Rs.25,00,000 and above|
Following are other key features of Exide Life New Immediate Annuity with Return of Purchase Price:
The Free Look Period is 30 days for policies that are purchased through Distance Marketing such as Phone, SMS, e-mail, internet, DTH, postal mail, newspaper, and magazine inserts.
There are several other benefits of purchasing pension plans from Exide Life Insurance such as:
|My Life||Register for My Life and easily manage your pension plan online. With My Life, you can make:
|Policy notifications||Receive policy notifications via email or SMS alerts on your registered mobile number.|
|Premium payment channels||Online premium payment channels include:
|Complaints and feedback||Fill up an online form on the Exide Life Insurance website to register your complaints or feedback. For grievance redressal, visit the nearest Exide Life Insurance branch or write to firstname.lastname@example.org. You can also call toll-free number 1800 419 8228 for policy related queries.|
Following are the reasons why you should buy pension plans from Exide Life Insurance:
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