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Exide Life Retirement and Pension Plans

To enjoy your retirement years, you need to plan ahead. Exide Life Insurance Company Limited offers excellent retirement and pension plans designed to give you a comprehensive life cover and growth on your savings. Exide Life Retirement and Pension Plans offer you flexible premium payment options and tax benefits.

Benefits of Exide Life Retirement and Pension Plans:

Following are the benefits of choosing Exide Life Retirement Plans:

  • Life Cover: The Exide Life Retirement plan offers a comprehensive Life Cover that benefits the policyholder. Get guaranteed benefits on vesting and in the event of death.
  • Top-up premium: You can pay additional premium to make sure your retirement fund grows at a faster pace.
  • Flexible premium payment options: You can choose Regular, Limited or Single Pay option to make premium payment under the Exide Life Retirement Plan.
  • Regular savings: Saving as little as Rs.2,000 per month under the Exide Life Retirement Plan can ensure you build an excellent retirement corpus.
  • Maturity benefit: Get guaranteed maturity benefit under the Exide Life Retirement Plan. You can get 1/3rd of the maturity amount tax free in cash. The rest can be used to purchase annuity from Exide Life Insurance so that you can get regular income for life.
  • Loyalty benefit: Once you reach the retirement age, the premium allocation charges will be refunded to your pension account.
  • Tax benefit: You can save tax on premiums paid under Section 80C of the Income Tax Act, 1961.
  • QROPS: As the Exide Life Retirement Plan is declared a Qualifying Recognized Overseas Pension Scheme, those who are moving outside the UK can transfer their UK pension funds tax free to this pension plan.

Following are the benefits of choosing Exide Life Pension Plans:

  • Annuity payments for life: Invest a lump sum amount and receive regular income for the rest of your life. Depending on your financial requirements, you can decide when you want to get your annuity payments - annual, half-yearly, quarterly or monthly.
  • Full refund of the purchase price: In the event of death of an annuitant, the nominee or a legal heir will be paid the full Purchase Price.
  • Easy purchase: Exide Life Pension Plan is easy to purchase. Pay a lump sum amount and receive annuity at your discretion. No medical records are required. Get a higher annuity rate for a higher purchase price.

List of Retirement and Pension Plans Provided by Exide Life Insurance Company Limited:

Exide Life Insurance offers 2 types of retirement and pension plans:

Exide Life Golden Years Retirement Plan:

Live the retirement years of your life in comfort without compromising on your standard of living with the Exide Life Golden Years Retirement Plan. It is a traditional long-term pension plan under which all premiums paid will be compounded at minimum 1% p.a. You can alter the premium payment term by choosing Regular, Limited or Single Pay. The plan also offers loyalty benefit to the policyholder in the form of refunded premium allocation charges on reaching retirement age. Under this plan, you can get 5% p.a. interest guarantee on your gross premiums and Individual Pension Account (IPA) for the first 5 years. If you want to increase the growth rate of your retirement fund, you have the option to pay top-up premiums in addition to your regular premium 2 years before the vesting date.

Exide Life New Immediate Annuity with Return of Purchase Price:

Invest in the Exide Life New Immediate Annuity with Return of Purchase Price to receive guaranteed income post-retirement. You can choose to receive the annuity payout monthly, quarterly, half-yearly or yearly. In the event of death, the nominee or legal heir will get the full purchase price of the plan.

QROPS:

Exide Life Golden Years Retirement Plan is declared a Qualifying Recognized Overseas Pension Scheme (QROPS). Therefore, if you have relocated outside of the UK, you can transfer the funds from your UK pension scheme to this pension plan tax free. Only non-active pension funds can be transferred under this plan. Vesting benefits for QROPS customers will be applicable only when you attain 55 years of age or the vesting age, whichever is later.

Plan Name Entry Age Maturity Age Premium
Exide Life Golden Years Retirement Plan 18 to 65 years 55 to 75 years
  • Minimum Annual Premium is Rs.48,000 and Minimum Monthly Premium is Rs.4,000 for PPT of 5 to 9 years
  • Minimum Annual Premium is Rs.24,000 and Minimum Monthly Premium is Rs.2,000 for PPT of 10 to 42 years
  • Minimum Single Premium is Rs.2,40,000
QROPS - Transfer your pension from UK to India 18 to 65 years 55 to 75 years
  • Minimum Annual Premium is Rs.48,000 and Minimum Monthly Premium is Rs.4,000 for PPT of 5 to 9 years
  • Minimum Annual Premium is Rs.24,000 and Minimum Monthly Premium is Rs.2,000 for PPT of 10 to 42 years
  • Minimum Single Premium is Rs.2,40,000
Exide Life New Immediate Annuity with Return of Purchase Price
  • 0 years for existing customers
  • 45 years for new customers
  • 55 years for new customers who were members of a UK Registered Pension Scheme
NA Minimum Purchase Price is as per the minimum Annuity amount of Rs.1,000 per month

Why one needs Exide Life Retirement and Pension Plan?

Exide Life Insurance has proven itself adept at managing retirement and pension products. It manages a retirement corpus of more than Rs.1,000 crores. If you want to lead a comfortable retirement life without compromising on your standard of living, then opt for a retirement or pension plan offered by Exide Life Insurance. In addition to receiving a comprehensive life cover, you can also build a desired retirement fund. You have the option of using your maturity amount to purchase annuity from Exide Life Insurance and ensure that you get regular income for life. You can also enjoy tax benefits on premiums paid under the Exide Life Retirement and Pension Plans.