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What is Exide Life Group Gratuity Product?

Exide Life Group Gratuity Product helps you save, grow and accumulate funds to manage your employee gratuity liability in a flexible and efficient manner.

You can decide the type of investment strategy to accumulate adequate corpus to provide for your employees gratuity benefits. It also offers you an opportunity to earn market linked returns on your investments.

5 Reasons to buy this plan

1 Flexibility to invest in various Unit Linked Investment Funds
2 Option of transferring the past service contributions
3 Tax Benefits
4 Expert Fund Management
5 Assistance in providing Gratuity Liability Management Services

Key Benefits

1. Flexibility to invest in various Unit Linked Investment Funds
It gives you a wide range of investment options across equity and debt funds as per your risk appetite. Choice of 5 investment Funds with varying exposure to Equity and Debt.

Sl No Fund Name Investment Pattern Objective Risk
1 Liquid Fund (SFIN: ULGF00424/08/04EBLIQUID114) 100 % of the available funds under this Plan will be invested into money market instruments and liquid mutual funds To provide stable investment returns to policyholders while also attempting to protect capital invested in the fund. Low
2 Debt Fund (SFIN: ULGF00224/08/04EBDEBT114) Debt: 40% to 100% Money market and liquid mutual funds: 0% to 60% To generate attractive income by investing in a diversified portfolio of debt and money market instrument of varying maturities Low
3 Secure Fund (SFIN: ULGF00524/08/04EBSECURE114) Equity: 10% to 20% Debt: 0% to 90% Money market and liquid mutual funds: 0% to 20% To generate long term growth of capital and current income from a portfolio of equity & fixed income securities. The scheme will invest a maximum of 20% of its net assets in equity while the balance will be invested in a diversified portfolio of debt and money-market instrument of varying maturities. Low
4 Balanced Fund (SFIN: ULGF00124/08/04EBBALANCE114) Equity: 20% to 40% Debt: 0% to 80% Money market and liquid mutual funds: 0% to 20% To generate long term growth of capital and current income from a portfolio of equity & fixed income securities The scheme will invest a maximum 40% of its net assets in equity while the balance will be invested in a diversified portfolio of debt and money-market instrument of varying maturities Medium
5 Growth Fund (SFIN: ULGF00324/08/04EBGROWTH114) Equity: 40% to 60% Debt: 0% to 60% Money market and liquid mutual funds: 0% to 20% To generate long-term growth of capital and current income from a portfolio of equity & fixed income securities. The scheme will invest a maximum of 60% of its net assets in equity while the balance will be invested in a diversified portfolio of debt and money market instrument of varying maturities Medium
2. Option of transferring the past service contributions
In this Scheme, an initial contribution may be paid for the past services of eligible employees. The contribution for past services could be paid either in one lump sum payment or in installments as may be agreed between the Trustees and Exide Life Insurance.
3. Tax Benefits
Tax benefits for employer and employees as per the applicable tax laws.
4. Expert Fund Management

It gives you an opportunity to earn higher returns, as funds are being managed by experts.

5. Assistance in providing Gratuity Liability Management Services

Exide Life Insurance will provide assistance in the formalities required for the formation of the trust and approval of the fund. We will take care of administration of the scheme, settlements and payments to members and beneficiaries, accounting and fund administration.

How this plan works?

Step 1: The Policyholder can invest the contributions in the investment funds offered by Exide Life Insurance. Currently Exide Life Insurance offers 5(five) investment funds under this scheme.

Step 2: Exide Life Insurance will open and manage a “Group Gratuity Fund” for the Policyholder in which units are allocated following the receipt of contributions and cancelled for the purpose of paying gratuity benefit and charges.

Step 3: A member on either leaving service due to retirement/ resignation or on death/disability during the service, or any other such event that may terminate the employment, Exide Life Insurance will pay the benefits as per the scheme rules by redeeming the units in the investment funds to pay the gratuity benefit.

Step 4: An insurance cover of Rs. 1,000 shall be provided under this plan and the mortality charges of Rs.1 per 1000 Sum Assured for the same shall be deducted.

Key Features

Minimum / Maximum Age at Entry Minimum - 18 years
Maximum - Shall vary with each scheme in accordance with Scheme Rules subject to maximum of 79 years age last birthday
Minimum / Maximum Maturity Age Minimum - 19 years
Maximum - Shall vary with each scheme in accordance with Scheme Rules subject to maximum of 80 years age last birthday
Minimum Policy Term 1 Year
Maximum Policy Term Yearly renewable until terminated by the Master Policy holder
Sum Assured (Rs.) Rs. 1,000 per member
Minimum Group Size 10 members
Maximum Group Size No Limit
Minimum Initial Contribution Rs 1,00,000 per scheme
Maximum Initial Contribution Rs. 1,00,000
Maximum Balance in the Policy Account No Limit*
Mode of Contribution Annual, Half Yearly, Quarterly and Monthly
* Subject to the gratuity liability based on an actuarial valuation provided by a qualified actuary by way of certificate provided under the Accounting Standard 15 (Revised)

Fees and Charges:

Our fees and charges are simple and transparent.

Disclaimer:
UIN: 114L078V02. For more details on risk factors, terms and conditions, please read the terms and conditions document of the product carefully before concluding the sale. Tax benefits are subject to change in tax laws from time to time. URN : EXL/ONLINE/2014/146
Exide Life Group Traditional Employee Benefit Plan 
Who should buy
Who should buy?
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Who should buy?

Employers who want to provide their employee’s retirement benefits in scientific, timely and hassle free manner and build healthy corpus to provide the gratuity benefits to them.
Key Features
Key Features
What is Exide Life Group Gratuity Product?

Exide Life Group Gratuity Product helps you save, grow and accumulate funds to manage benefits >>

(UIN:114L078V02)
Key Benefits
Key Benefits
How does plan work
How this plan works?
Product Brochure
Product Brochure
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5 Reasons
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