Exide Life Insurance - Exide Life Group Gratuity Product

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

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.

I'm Interested

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.

Fund Name	Investment Pattern	Objective	Risk
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
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
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
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
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

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.

Tax Benefits + -

Tax benefits for employer and employees as per the applicable tax laws.

Expert Fund Management + -

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

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.

Step 1 : The Policy holder 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 ₹1,000 shall be provided under this plan and the mortality charges of ₹1 per 1000 Sum Assured for the same shall be deducted.

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.)	₹1,000 per member
Minimum Group Size	10 members
Maximum Group Size	No Limit
Minimum Initial Contribution	₹1,00,000 per scheme
Maximum Initial Contribution	₹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.

Allocation Charges	Contribution	Allocation Charges as % of contribution
		Contribution <= ₹2 crores	Contribution>= ₹2 crores
	Initial contributions received for past services	Nil	Nil
	Ordinary contributions for the first policy year	0.50%	Nil
	Ordinary contributions for the second and subsequent policy years	0.50%	Nil
	The above charges are guranteed throughout the term of the contract
Policy Administration Charges	Nil
Fund Management Charge	0.8% p.a. The Company may alter fund management charge subject to a maximum cap of 1.35% as allowed by IRDAI , by giving 30 days' notice and prior approval of the regulator
Mortality Charges	A flat mortality charge of ₹1 per 1000 sum assured will be charged and the same would be mentioned in the quotation issued to the client and signed and excepted by the client.The mortality charges remains guaranteed for the entire policy term. The mortality charges will be deducted by cancellation of units at the prevailling Unit Price.
Switching Charges	Nil

Product Brochure + -

Exide Life Group Gratuity Solutions

Terms & Conditions + -

Exide Life Group Gratuity Solutions

About This Plan

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.

5 Reasons To Buy This Plan

5 Reasons to Buy this Plan

Who Should Buy

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.

I'm Interested

Key Benefits

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.

Fund Name	Investment Pattern	Objective	Risk
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
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
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
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
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

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.)	₹1,000 per member
Minimum Group Size	10 members
Maximum Group Size	No Limit
Minimum Initial Contribution	₹1,00,000 per scheme
Maximum Initial Contribution	₹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.

Allocation Charges	Contribution	Allocation Charges as % of contribution
		Contribution <= ₹2 crores	Contribution>= ₹2 crores
	Initial contributions received for past services	Nil	Nil
	Ordinary contributions for the first policy year	0.50%	Nil
	Ordinary contributions for the second and subsequent policy years	0.50%	Nil
	The above charges are guranteed throughout the term of the contract
Policy Administration Charges	Nil
Fund Management Charge	0.8% p.a. The Company may alter fund management charge subject to a maximum cap of 1.35% as allowed by IRDAI , by giving 30 days' notice and prior approval of the regulator
Mortality Charges	A flat mortality charge of ₹1 per 1000 sum assured will be charged and the same would be mentioned in the quotation issued to the client and signed and excepted by the client.The mortality charges remains guaranteed for the entire policy term. The mortality charges will be deducted by cancellation of units at the prevailling Unit Price.
Switching Charges	Nil