Exide Life Golden Years Retirement Plan

What is Exide Life Golden Years Retirement Plan?

Exide Life Golden Years Retirement Planis 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

4 Reasons to Buy this Plan

Who should buy ?

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

I'm Interested Calculate Benefits

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.

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:

Choose 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.

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.

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).

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.

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.

Tax Savings + -

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

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Premium mentioned above is exclusive of Goods and Services Tax (GST) plus applicable cess

Disclaimer

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

Premium Allocation Charge:

Policy Year	Allocation Charges as a % of Annual Premium
Policy Year	Annual Mode	Monthly Mode	Single Premium
1	9%	6%	3%
2 - 5	2.50%	2%	NIL
6^th onwards	2%	2%	NIL

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

Policy administration Charge:

Regular Premium

Policy Year	Allocation Charges as a % of Annual Premium
1	0%
2^nd onwards	4%

Single Premium

Policy Year	Allocation Charges as a % of Annual Premium
1	0%
2 - 5	2.20%
6^th 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.

About This Plan