Exide Life Smart Pension Plan - Unit Linked Pension Plan

What is Exide Life Smart Pension Plan?

Retirement ushers in a welcome break from the daily routine of work. The only flip side is not getting a steady, monthly income. To live the same lifestyle during retirement would require a substantial corpus to last your entire golden years. Exide Life Smart Pension Plan is a Unit Linked Individual pension plan that helps you save along your working years and build a retirement corpus to prepare for your retirement. A host of flexibilities allow you to further customize the plan along your retirement journey.

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Key Reasons to buy this Plan

Who should buy ?

This plan is suitable, if you want to ensure regular income and lead an independent life without compromising the standard of living after you retire.

I'm Interested Buy Online

Death Benefit+ -

On death of the life assured before the end of policy term, the nominee will receive death benefit which shall be higher of the following:

Fund value
Sum Assured on Death

Sum Assured on Death in this policy at any time during the policy term will be 105% of total premiums including top-up premiums paid reduced to the extent of the partial withdrawals from the fund value during the two-year period immediately preceding the death of the life assured.

Build a retirement corpus+ -

Exide Life Smart Pension Plan helps you save along your working years and build a retirement corpus. You can choose to pay the premiums on yearly, half-yearly or monthly basis; or pay just a single premium.

Flexibility to alter vesting date and premium payment term + -

You do not need to wait till a particular age (60years) to vest the accumulated funds; you have the flexibility to prepone it if you are planning an early retirement, or postpone it if you want to retire later. This option can be exercised only once during the term of the contract, provided the policy is in force for full Benefits.

In addition, the plan allows you the option of increasing or decreasing the premium payment term at any time before the end of premium payment term chosen earlier, subject to eligibility criteria under the plan.

Fund strategies to suit your risk appetite + -

Basis your risk appetite, you can choose how the investments in your funds will be managed. You can choose to manage it by self, or choose between Automatic Asset Rebalancing Strategy and Systematic Transfer Strategy, which automate the transfer of a fixed percentage of investment from one fund to another during accumulation phase, based on the risk appetite of the policyholder. Systematic Transfer Strategy can't be opted with Single premium Policies.

Loyalty additions + -

All ‘Single Premium’ policies and other than ‘Single Premium’ policies paying premium of Rs.1,00,000 or more in a year will be eligible for loyalty additions. Loyalty additions will be added to the fund value at the end of the year as extra units. From policy year 10 till 19, there will be a loyalty addition of 0.25% of the average fund value of last and current policy anniversary i.e.(Fund Value at the end of last policy year (post loyalty additions) + Fund Value at the end of current policy year)/2. From policy year 20 onwards, the loyalty addition will be 0.5% of the average fund value of last 2 policy anniversaries.

Loyalty additions are a part of the Fund Value and are paid as part of Vesting Benefit or Death Benefit or Surrender Benefit.

Charges + -

Premium Allocation Charges:

For Other than Single Premium Policy

Policy Year	Allocation charge (Annual Mode)	Allocation charge(Half-Yearly & Monthly Mode)
1	12%	9%
2nd Year onwards	4%	3%

For Single Premium Policy

Premium allocation charge for top-up premium is 1%.

Single Premium (Rs.)	Allocation charge
2,00,000 - 3,49,999	1.5%
3,50,000 – 4,99,999	1.0%
5,00,000 & above	Nil

Policy Administration Charges

For a policy paying Rs. 10 lakhs and above as ‘Single Premium’, the Policy Administration charge will be nil throughout Policy Term.

Policy Type	Charges
Other than Single Premium policy	0.1% of annualized premium per month
Single Premium Policy	0.08% of single premium per month

Fund Management Charges

Fund Name	% of Fund Value per annum
Exide Life Preserver Pension Fund	1.00%
Exide Life Prime Equity Pension Fund	1.35%
Exide Life Capped Nifty Index - Pension Fund	0.85%

Akshay starts saving for his retirement from the age of 35 years through Exide Life Smart Pension Plan paying a premium of Rs. 10,000 every month into Exide Life Large Cap– Pension Fund while opting to utilize his entire retirement corpus (on survival till vesting date) to purchase Exide Life Immediate Annuity with Return of Premium to receive annuity pay-outs annually. The purchase price applied to purchase Annuity is exclusive of Goods and Services tax. It is assumed that the entire vesting benefit has been applied to purchase annuity from us. His benefits at estimated rates of return would be:

Premium Payment Term	Policy Term	Vesting Benefit		Annuity with Return of Premium (paid Annually)
		4% Return	8% Return	4% Return	8% Return
10 years	20 years	17,92,471	32,15,676	127,319	233,876

The values depicted with assumed rate of returns @ 4% and 8% p.a. are not guaranteed and they are not the upper or lower limits of returns of what one can expect and that the returns are subject to number of factors including future investment performance.

Premium payment term(PPT)	Single Premium or Other than Single Premium: 5 to 30 years
Policy Term (PT in years which may be changed later)	Minimum: 5 years or PPT whichever is higher Maximum: 55 years
Minimum Age at Entry (in years as on last birthday)	25 years
Maximum Age at Entry (in years as on last birthday)	70 years
Minimum Age at Vesting Date (in years as on last birthday)	45 years (55 years for QROPS)
Maximum Age at Vesting Date (in years as on last birthday)	80 years
Premium Payment Frequency	Yearly, Half-yearly, Monthly
Minimum Premium (Rs.)	Non-single Premium	Policy Term >= 10 & any Premium Payment Term	Rs. 50,000 (Annual) Rs. 30,000 (Half-Yearly) Rs. 5,000 (Monthly)
		Policy Term < 10 & Premium Payment Term < 10	Rs. 1,00,000(Annual) Rs. 60,000 (Half-Yearly) Rs. 10,000 (Monthly)
	Single Premium	Rs. 2,00,000
Maximum Premium (Rs.)	No Limit (subject to Board approved underwriting policy)

Brochure + -

Exide Life Smart Pension Plan Brochure

Terms and Conditions + -

Exide Life Smart Pension Plan - Terms and Conditions

About This Plan

What is Exide Life Smart Pension Plan?

Get a Quote Now

4 Reasons To Buy

Key Reasons to buy this Plan

Who Should Buy

Who should buy ?

This plan is suitable, if you want to ensure regular income and lead an independent life without compromising the standard of living after you retire.

I'm Interested Buy Online

Key Benefits

Death Benefit+ -

On death of the life assured before the end of policy term, the nominee will receive death benefit which shall be higher of the following:

Fund value
Sum Assured on Death

Policy Year	Allocation charge (Annual Mode)	Allocation charge(Half-Yearly & Monthly Mode)
1	12%	9%
2nd Year onwards	4%	3%

For Single Premium Policy

Premium allocation charge for top-up premium is 1%.

Single Premium (Rs.)	Allocation charge
2,00,000 - 3,49,999	1.5%
3,50,000 – 4,99,999	1.0%
5,00,000 & above	Nil

Policy Administration Charges

For a policy paying Rs. 10 lakhs and above as ‘Single Premium’, the Policy Administration charge will be nil throughout Policy Term.

Policy Type	Charges
Other than Single Premium policy	0.1% of annualized premium per month
Single Premium Policy	0.08% of single premium per month

Fund Management Charges

Fund Name	% of Fund Value per annum
Exide Life Preserver Pension Fund	1.00%
Exide Life Prime Equity Pension Fund	1.35%
Exide Life Capped Nifty Index - Pension Fund	0.85%

How This Plan Works

Premium Payment Term	Policy Term	Vesting Benefit		Annuity with Return of Premium (paid Annually)
		4% Return	8% Return	4% Return	8% Return
10 years	20 years	17,92,471	32,15,676	127,319	233,876

Key Features

Premium payment term(PPT)	Single Premium or Other than Single Premium: 5 to 30 years
Policy Term (PT in years which may be changed later)	Minimum: 5 years or PPT whichever is higher Maximum: 55 years
Minimum Age at Entry (in years as on last birthday)	25 years
Maximum Age at Entry (in years as on last birthday)	70 years
Minimum Age at Vesting Date (in years as on last birthday)	45 years (55 years for QROPS)
Maximum Age at Vesting Date (in years as on last birthday)	80 years
Premium Payment Frequency	Yearly, Half-yearly, Monthly
Minimum Premium (Rs.)	Non-single Premium	Policy Term >= 10 & any Premium Payment Term	Rs. 50,000 (Annual) Rs. 30,000 (Half-Yearly) Rs. 5,000 (Monthly)
		Policy Term < 10 & Premium Payment Term < 10	Rs. 1,00,000(Annual) Rs. 60,000 (Half-Yearly) Rs. 10,000 (Monthly)
	Single Premium	Rs. 2,00,000
Maximum Premium (Rs.)	No Limit (subject to Board approved underwriting policy)