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What is Exide Life Prospering Life Plus?

You look forward to growth in all aspects of life, so why should your investments be any different? Not everyone has the time and expertise to manage their funds in the best possible manner, so how does one efficiently manage their investments and returns? The answer lies in Exide Life Prospering Life Plus, a unit linked plan with multiple investment options and flexibilities that provide you control over your investments and offers life cover for protection in case of unfortunate events.

4 Reasons to buy this plan

1 Guaranteed Life Cover
2 Tax free Maturity Benefit
3 6 Investment Funds with Unlimited Free Switches
4 Benefit from Active Asset Allocation style of fund management

Key Benefits

1. Guaranteed Life Cover
In case of an unfortunate event, your family gets a guaranteed payout immediately which will be highest of the following:
• Fund Value
• 10 times the annual premium*
• 105% of annualized premium including top-up premiums paid

*For life assured of age 45 and above it is 7 times the annual premium
2. Tax Free Maturity Benefit
On maturity, you get a tax free amount equal to fund value. Before maturity also (after 5th policy year), this plan offers liquidity by allowing partial withdrawals from the policy subject to limits as per product terms and conditions

You save tax on premiums paid under Section 80C and on benefit amounts under Section 10 (10 D) of the Income Tax Act if life cover is at least 10 times the annual premium
3. 6 Investment Funds with Unlimited Free Switches
This plan offers choice of 6 investment funds of risk profile ranging from high to low. You can benefit by switching your money from one fund to another, free of cost, depending on the market conditions. There is no limit to how many times you can switch between any of these funds.

Fund Name Investment Pattern Objective Risk
Classification
Exide Life Prime Equity Up to Min of 90% & to a max of 100% in equity Provides for equity linked market returns High
Exide Life Growth Fund Up to Min of 40% & to a max of 60% in equity Provides opportunity for high growth Medium
Exide Life Balanced Fund Up to Min of 20% & to a max of 40% in equity Provides for higher growth with reasonable security Medium
Exide Life Secure Fund Up to Min of 10% & to a max of 20% in equity Provides for growth with low risk Low
Exide Life Preserver 100% in debt and debt related investments with no more than 25% of the fund invested in instruments of maturities less than 12 months Provides safety and growth with minimum risk Low
Exide Life Active Asset Allocation Equity: 0-100%
Debt: 0 – 100%
Money Market: 0 – 100%
To provide long term capital appreciation in a risk controlled manner by making clear and active asset allocation choices between Equities, Bonds and Money Market High
4. Benefit from Active Asset Allocation style of fund management
For investors who lack the time and expertise to actively manage their funds, this plan has option of Exide Life Active Asset Allocation Fund. In this fund, the expert fund managers take a call on switching money from one asset to another whenever opportunity arises in market. With this, you get the upside potential while the downward risks are managed professionally.
5. Loyalty Benefit
This plan awards you extra value for staying invested for the complete policy term. The additional benefit amount is paid as a percentage of the fund value and depends on the annual premium amount you choose to pay.

% of Fund Value as Loyalty Benefit For Regular Pay and Limited Pay For Single Pay
NIL Below ₹96,000 p.a. Below 1,44,000
0.50% ₹96,000 p.a. – ₹1,43,999 p.a. ₹1,44,000 – ₹1,91,999
0.75% ₹1,44,000 p.a. and above ₹1,92,000 and above

How this plan works?

30 year old Ravi wants to gain market linked returns but does not have the expertise and time to manage his investments. He opts for Exide Life Active Asset Allocation Fund in Exide Life Prospering Life Plus by investing ₹50,000 p.a. for 20 years. The benefits are illustrated below:

Exide Life - Unit Link Insurance Plan


Benefit Illustration

Sample illustration of the product

Age


(Years)
Policy
Term

(Years)
Premium
Payment

Term (Years)
Monthly
Premium

(₹)
Minimum Life
Cover

(₹)
Maturity Value
(₹) assuming Investment Return

@ 8% p.a.
Maturity Value
(₹) assuming Investment Return

@ 4% p.a.
35 20 20 3000 3,60,000 13,18,906 8,56,655
35 20 10 4000 4,80,000 11,11,354 6,14,305

Assuming 100% investment in Active Asset Exide Life Allocation Fund.

Key Features

Age at Entry

For Limited Pay and Regular Pay: 0 - 55 years
For Single Pay: 0 - 65 years

Age at maturity

For Limited Pay and Regular Pay: 18 - 75 years
For Single Pay: 18 - 75 years

Mode of premium payment

Annual, Monthly

Minimum Premium

For PPT 5 yrs: Annual – ₹48,000 and Monthly – ₹5,000
For PPT 10 yrs:Annual – ₹36,000 and Monthly – ₹4,000
For PPT 15 or more Years:Annual – ₹24,000 and Monthly – ₹3,000
For PPT Single Pay: ₹96, 000


Policy Term and Premium Payment Term Allowed Premium Payment Term (PPT) Policy Term
5 10, 15 to 20 Years
10 15 to 20 Years
15 or more Equal to Premium Payment Term
Single Pay 10, 15 to 20 Years

Life Cover


For age of Entry For Regular and Limited Pay For Single Pay
below 45 years: 10 times annual premium 1.25 times Single premium
45 years or above: 7 times annual premium 1.1 times Single premium

Charges

Premium Allocation Charge as a percentage of premium
Policy Year Limited Pay and Regular Pay
Single Pay
Annual Mode Monthly Mode
1st year 6.5% 5% 3.5%
2nd year onwards 3.5% 2.5% NA
Allocation charge for Top Up premium is 2%
Policy Admin Charge as a % of premium
Policy Year Limited Pay and Regular Pay Single Pay
1st year -3rd year 0.25% p.m. 0.15% p.m.
4th year – 5th year 0.25% p.m. 0.10% p.m.
5th year – 6th year 0.30% p.m. 0.10% p.m.
7th year onwards 0.30% p.m. 0.05% p.m.
Policy administration charges are subject to a maximum cap of ₹500 p.m.
Fund Management Charge
Fund Name Fund Management Charge (as a % of Fund Value)
Exide Life Prime Equity, Exide Life Active Asset Allocation Fund 1.35% p.a.
Exide Life Growth Fund, Exide Life Balanced Fund 1.25% p.a.
Exide Life Secure Fund, Exide Life Preserver 1.00% p.a.
Exide Life Prospering Life Plus UIN: 114L070V01; Exide Life Prospering Life Plus SP UIN : 114L069V01. For more details on risk factors, terms and conditions, please read the sales brochure of the product carefully before concluding a sale. Tax benefits are subject to change in tax laws from time to time. 

Exide Life Insurance Company Limited (Formerly known as ING Vysya Life Insurance Company Limited), IRDA Registration Number: 114, CIN: U66010KA2000PLC028273. Registered Office: 3rd Floor, JP Techno Park, No. 3/1, Millers Road, Bangalore- 560 001, India. Toll Free: 1800 419 8228; Phone: 080 – 25328000; Visit exidelife.in URN: EXL/ONLINE/2014/141

Beware of spurious phone calls and fictitious/fraudulent offers: IRDA clarifies to public that IRDA or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums. IRDA does not announce any bonus, public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.
Unit linked Insurance Policy – The Key to lifetime prosperity 
who should buy
Who should buy?
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Who should buy?

This plan is suitable for investors looking for efficient wealth creation options without having to worry about managing their investments.
What is Exide Life Prospering Life Plus?

You look forward to growth in all aspects of life, so why should your investments be any different? >>

(UIN:114L070V01)
Key benefits
Key Benefits
How does plan work
How this plan works?
4 Reasons
to buy this plan
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