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4 Reasons to buy this plan

1 Capital guarantee with attractive returns
2 Flexibility - premium payment term and top-ups
3 Get up to 30% of retirement fund tax free and use balance for life long pension.
4 Compliant with HMRC Conditions. Provides monthly income guaranteed for life after age 55 on minimum 70% of Corpus

Key Benefits

1. Growth with minimum guarantee

Your Individual Pension Account (IPA) grows at an interest rate declared every year. It is determined subject to the performance of the fund.

However, the minimum interest rate on your IPA is 5% p.a. for first 5 policy years and 1.5% p.a. for rest of the policy term. The interest once added in IPA is guaranteed to be paid.

2. Flexibility

This plan offers multiple flexibilities to help you plan your retirement as per your convenience.

a. Top-Up Premium: In addition to the regular premium, you can pay an additional amount during the policy term (subject to product terms and conditions) to ensure your retirement fund grows faster.

b. Premium Payment Options :
- Choosing from Regular, Limited or Single Payment options.
- Choose to pay premium monthly or annually.
- Choose to decrease or increase the premium payment term by keeping the premium amount same.

3. Guaranteed Vesting Benefit
On completion of vesting term, you will get Guaranteed Vesting Benefit which is higher of:

  • Gross premiums including top-up premiums compounded @ 1% p.a., or
  • Individual pension account (IPA) value.
You may commute up to 30% of the vesting amount tax free and use minimum 70% to purchase annuity from after attaining age 55 to ensure a monthly income guaranteed for your life time.
4. Loyalty Benefit

All premium allocation charges deducted are refunded to your pension account on reaching the retirement age. This is applicable once you have made a total premium payment of 4,80,000/- (does not include top-up premiums).

5. Regular & Disciplined Savings

A disciplined saving method (starting with as little as ₹2000 per month) goes a long way in building the desirable retirement corpus.

6. Life Cover

In case of demise of the policy holder, higher of following is paid to the nominee:

- 105% of gross premiums and Top Up premiums (excluding service tax)
- Gross premium and Top Up premiums compounded @ 1% p.a. (excluding service tax)
- Individual Pension Account (IPA) Value.

7. Tax Savings
Premiums paid are tax free under section 80C as per applicable income tax laws.

How this plan works?

45 year old Ashok, invests ₹2 Lac per annum for 10 years in Exide Life Golden Years Retirement Plan while the plan continues for 20 years. Also, he does a top up of ₹40,000 in every two years. The benefits from the plan are shown below:

Exide Life - Retirement Planning

Benefit Illustration

Sample illustration of the product

Age


(Years)
Vesting
Term

(Years)
Premium
Payment
Term
(Years)
Monthly /
Single Premium

( ₹)
Total
Premium
Paid
( ₹)
Guaranteed
Minimum Vesting
Benefit*
( ₹)
Vesting Benefit if
fund grows
@ 8% p.a.
( ₹)
Vesting Benefit if
fund grows
@ 4% p.a.
( ₹)
35 25 20 2,000 p.m 4,80,000 5,58,417 12,00,341 6,48,311
35 25 15 3,000 p.m 5,40,000 6,43,578 15,16,182 7,58,479
35 25 10 4,000 p.m 4,80,000 5,86,176 15,08,102 6,90,808
35 25 1 4,80,000 4,80,000 6,15,567 20,54,082 8,04,826

*Assuming a growth rate of 8% and 4% p.a.

Key Features

Minimum / Maximum Age at Entry 18 years – 65 years
Minimum / Maximum Vesting Age 55 Years - 75 years
Vesting Term / 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 ₹48,000 ₹4,000
10 - 42 years ₹24,000 ₹2,000
Minimum Single Premium ₹2,40,000
Premium Payment Frequency Annual and Monthly modes available
Annuity Options Guaranteed for Life
QROPS Clause For the members of UK registered pension scheme transferring their pension benefit into this scheme the provisions pertaining to cancellation, surrender and policy discontinuance shall not be applicable to policyholder until the policyholders attains the age of 55 years. Upon attaining age of 55, a minimum of 70% of Corpus will be utilized to provide annuity guaranteed for life

Charges

1. Premium Allocation Charge:
Policy Year Allocation Charges as a % of Annual Premium
Annual Mode Monthly Mode Single Premium
1 9% 6% 3%
2-5 2.5% 2% NIL
6th Onwards 2% 2% NIL

Premium Allocation Charge for Top Up is 1.5% p.a.

2. Policy administration Charge:
Regular Premium
Policy Year Allocation Charges as a % of Annual Premium
1 0%
2nd onwards 4%
Single Premium
Policy Year Allocation Charges as a % of Annual Premium
1 0%
2-5 2.2%
6th Onwards 0%

Policy administration charges are capped at ₹500 p.m.

3. Annual Management Fee:
The Annual Management fee is 1.35% p.a. and is charged as percentage of the pension account value.
Exide Life Golden Years Retirement read the sales brochure Plan UIN: 114N065V02. For more details on risk factors, terms and conditions, please of the mentioned product carefully before concluding the sale. Tax benefits are subject to change in tax laws from time to time. Bonus interest rates for future years is not guaranteed and may vary depending on the fund performance. URN: EXL/ONLINE/2014/143.
Plan well and retire well with Exide Life retirement plans  
Who Should Buy
Who should buy?
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Who should buy?

Those who want to plan for their retirement to ensure an independent life without compromising the standard of living.

Indians who have worked in UK might have made some regular contribution from their income towards a pension fund. Now if they plan to move out of UK, the UK Government allows transfer of their funded pension funds tax free to pension schemes in India registered as QROPS.

Key Features
Key Features
What is Exide Life Golden Years Retirement Plan?

Exide Life Golden Years Retirement Plan is a unique plan that helps you make your retirement years after age 55, >>

(UIN:114N065V02)
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What is Exide Life Golden Years Retirement Plan?
Exide Life Golden Years Retirement Plan is a unique plan that helps you make your retirement years after age 55, the golden years of your life by offering a host of benefits for building a substantial corpus.
Key Benefits
Key Benefits
How does plan work
How this plan works?
4 Reasons
to buy this plan
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