Investment Plans 541 views December 14, 2021

Exide Life Creating Star Plan is unit-linked insurance that provides you with life cover and the benefit of investments. So, with this plan, you can protect your family as well as earn wealth through investments. You’ll get the following benefits under this ULIP Plan of Exide Life Insurance.

  • Death Benefit
  • Education Payouts
  • Maturity Benefit
  • Surrender Benefit
  • Partial Withdrawal Benefit
  • Five Funds

Check how these benefits can help you deal with life uncertainties as well as create wealth for you to meet your financial goals.

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Exide Life Creating Star Plan Benefits

The insurance company provides you and the nominated person the following benefits –

Death Benefit Payable to the Nominee

If you die before the policy maturity date, the company shall pay higher of the following –

  • Sum Assured
  • Fund Value

to the nominee.

Note – This death benefit shall be reduced by the partial withdrawal (if any) made 24 before the date of death.

Premium Protector

In the event of the death of the policyholder, the Premium Protector will help continue the policy with all the benefits. And the company will pay the remaining premiums under the Exide Life Creating Star Plan.

Education Payouts Before the Maturity Date

Three years before the maturity date, the insurer provides education payout to you at each policy anniversary as follows –

  • 20%
  • 30%
  • & 50%

of the fund value as on the date of payment.

The fund value after the payment of the Education Payout shouldn’t be < 1.5X the annualized regular or limited premium and 20% in case of a single premium or any amount as specified by the company. No charges are levied on the Education Payouts.

Maturity Payout at the End of the Policy Term

You’ll receive the fund value at the prevailing rate on the maturity date.

Surrender Benefit for the Life Assured

The company allows you to surrender this life insurance policy after the completion of three years. And to do this, you need to give written notice to the company. Upon surrender, you’ll get the fund value after the deduction of surrender charges. On such payment, the policy terminates. This benefit is payable only if at least one year’s regular or limited premium is paid.

Partial Withdrawal Benefit

You can do partial withdrawals of up to 25% of the fund value after 3 policy years. The partial withdrawal amount comes to you after the deduction of charges and by the cancellation of units from your funds. After the withdrawal, the fund value should not be < 1.5X the annualized regular or limited premium and 20/% in case of a single premium or the amount as specified by the company.

Wide Range of Investment Options Under Exide Life Creating Star Plan

You can invest your money in any of the following funds –

Debt Fund – Your money will be invested in debt and debt-related instruments to provide you security and moderate growth.

Secure Fund – With a mixture of investments between bonds and equity, this fund provides reasonable security and opportunity for growth.

Balanced Fund – The fund aims for higher growth with reasonable security by a minimum investment of 20% and up to 40% in equity and equity-related instruments including property and property-related instruments. Whereas the balance will be invested in debt securities and debt-related instruments.

Growth Fund – It aims to provide high growth opportunities by investing 40%-60% in equity and equity-related instruments including property and property-related instruments and the balance in debt securities and debt-related instruments.

Equity Fund – This helps maximize growth through investments in a portfolio of equities. Here, 90%-100% of the available corpus is invested in equities or equity-related instruments including property or property-related instruments and the balance in debt and debt-related instruments.

Suicide Clause

In case of suicide within one year from the policy commencement date or reinstatement due to any reason, the policy shall terminate and the fund value less the surrender charges is paid to the nominee. Plus the premium protector will cease immediately.

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