Investment Plans 277 views December 29, 2021

Exide Life High Life Plus is unit-linked insurance that can help you make money and get financial cover for your family in case of your demise. The key features of Exide Life High Life PLus ULIP Plan are –

  • Death Benefit
  • Maturity Benefit
  • Surrender Benefit
  • Partial Withdrawal Benefit

Learn more about the benefits of this Exide Life Insurance Plan on this page below.

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Exide Life High Life Plus ULIP Plan Benefits

The insurance company shall provide the following under the Exide Life High Life Plus ULIP Plan.

Death Benefit When You Die

In case of your death after the risk commencement date but before the maturity date, your nominee will receive a death benefit. The payout would also depend on meeting other terms and conditions as laid down in the policy. If the death happens before the risk commencement date, the nominee will receive the fund value. Death Benefit is the aggregate of the Sum Assured and the Policyholder’s Fund Value.

If the life assured’s age is less than twelve years on the policy commencement date, the life cover will not commence until the age is five years or expiry of two policy years, whichever is later.

Maturity Benefits for the Life Assured

If survive till the maturity date, the Policyholder‟s Fund Value shall be payable to you.

Surrender Benefit for Flexible Choice During the Policy Term

The company allows you to surrender this policy after the completion of three years. And to do the same, give a written notice to the company. Upon surrender, the Policyholder’s Fund Value, as reduced by the surrender charges shall be payable to you. After the payment, the policy terminates.

Partial Withdrawal Benefit for Liquidity During the Policy Term

After the completion of three policy years, you can withdraw money from your account, provided the Policyholder’s Fund Value post-withdrawal is not less than 1.5 times the annualized regular premium or any other amount as specified by the company. You can get the withdrawal amount after the deduction of the Partial Withdrawal Charge through the cancellation of units from your account.

What is the Procedure of Maturity & Death Claims?

If a claim arises for Maturity or Death Benefit Under the Exide Life High Life Plus Policy, intimate the insurer in writing along with the following documents within 60 days. For Maturity Benefit, submit –

(i) Policy document
(ii) Discharge Form

For Death Benefit due to accidents or unnatural deaths

(i) Policy document
(ii) Death Certificate
(iii) Copies of the First Information Report and the Final Investigation Report
(iv) Copy of post-mortem report

For Death Benefit other than out of accidents or unnatural deaths

(i) Policy document
(ii) Death Certificate
(iii) Hospitalization documents

Note – The company reserves the right to call for any additional documents or information.

Exide Life High Life Plus Unit Linked Funds

The company offers the below funds for investments:

Debt Fund: This gives you security and moderate growth by investing 100% in debt and debt-related instruments.

Secure Fund: It offers reasonable security and opportunity for growth by investing in a mixture of bonds and equity.

Balanced Fund: It provides higher growth with reasonable security by investing a minimum of 20% and up to 40% in equity and equity-related instruments including property and property-related instruments and the balance goes into debt securities and debt-related instruments.

Growth Fund: The fund generates capital appreciation with a minimum investment of 40% and up to 60% in equity and equity-related instruments including property and property-related instruments. The balance gets distributed among debt securities and debt-related instruments.

Equity Fund: This maximizes growth through investments in a portfolio of equities. Where a minimum of 90% and up to 100% of the money 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

If you commit suicide within one year from the risk commencement date or the date of reinstatement, a refund of the Policyholder‟s Fund Value applicable charges will be made.

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