Investment Plans 307 views December 1, 2021

Exide Life Easy Life is a unit-linked insurance plan that gives you the opportunity to create wealth while protecting your dear ones financially in case of your demise. The plan ensures the same thanks to its following key features.

  • Death Benefit
  • Loyalty Additions
  • Partial Withdrawal Benefit
  • Maturity Benefit
  • Two Fund Options

Read this page and learn about the benefits of the Exide Life Easy Life ULIP Plan.


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Exide Life Easy Life Benefits

You and your nominee shall get the following benefits under this Exide Life Insurance Plan

Death Benefit for the Nominee

If you die during the policy term, the company will pay the higher of –

  • Sum Assured – Partial Withdrawals
  • Fund Value

to the nominee.

Note – In case of your death before the risk commencement, the company will pay the fund value to the nominee.

Loyalty Additions in Your Respective Funds

The insurance company shall pay back your first policy year’s regular premium allocation charges by allocating them into your funds in the proportions as chosen by you. This benefit is available at the end of the 10th policy year, subject to 100% of the first policy year’s regular premium allocation charges. At the end of the 15th policy year, the loyalty addition proportion is 50% of the first policy year’s regular premium allocation charges. And at the end of the 20th policy year, it is 50%.

Note – In case your premium is due on the due date of payment of loyalty additions, the additions shall be done after receipt of the due premium amount.

Maturity Benefit Payable to the Life Assured

On the maturity date, the company shall pay you the fund value plus loyalty additions.

Partial Withdrawal Benefit

You can do partial withdrawals after the completion of five policy years, and they should not be more than 10% of the fund value. And after the withdrawal, the fund value should be at least 1.5 times the annualized regular premium of one full policy year or any amount as specified by the company. However, you cannot do more than one partial withdrawal in a policy year.

The withdrawal shall be made from both Regular premium Account and Top-up Premium Account. You can do a maximum of five partial withdrawals during the policy term. You can withdraw the amount after the deduction of partial withdrawal charges. In case of death after the partial withdrawal, the sum assured shall be reduced to the extent of the withdrawal made 24 months before the death.

For top-up premiums, this benefit can be availed after the completion of three years from the date of each top-up payment. However, this lock-in period shall not apply during the last three policy years.

Note – Partial withdrawal benefit is not allowed if you’re a minor.

Surrender Benefit

The company allows you to surrender this policy after the completion of three policy years and the payment of one year’s annualized regular premium. You can surrender this policy by giving notice in writing to the company. Upon surrender, the company shall pay you the fund value after deducting the surrender charges. After this payment, the policy terminates. However, if at least three full policy years’ annualized regular premiums are paid, the surrender benefit shall be higher of –

  • First Policy Year Annualized Regular Premium
  • Fund Value – Surrender Charges

Let’s Check the Investment Options

The insurance company provides you the following funds for investments –

EXIDE LIFE Preserver: This fund provides you security and moderate growth of capital by investing 100% in debt and debt-related instruments. Whereas, up to 25% will be invested in instruments with a maturity of less than 12 months.

EXIDE LIFE Prime Equity: The fund looks to maximize capital appreciation by investing 90% to 100% in equities or equity-related instruments. And the remaining will be invested in debt and debt-related instruments. The company mainly invests in companies within the BSE 100 and up to 25% of the fund in companies outside the BSE 100 universe.

You can use any of the following strategies to plan your investments –

EXIDE LIFE Prudent – Here, 40% of your premiums will be invested in EXIDE LIFE Prime Equity and the balance in EXIDE LIFE Preserver.

EXIDE LIFE Enhancer – The company will invest 60% of your premiums in EXIDE LIFE Prime Equity and the balance in EXIDE LIFE Preserver.

You can either choose to invest the net premiums in the desired proportion in the above funds or choose any of the above strategies to do investments.

Suicide Clause

In case of suicide within one year from the date of risk commencement or reinstatement of the policy, the company shall pay the fund value to the nominee.

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