Investment Plans November 23, 2021

Exide Life New Future Perfect is unit-linked insurance that helps you build a corpus for your future goals plus it provides a life cover for your family. The key features of this Exide Life Insurance Plan are shown below –

  • Death Benefit
  • Maturity Benefit
  • Surrender Benefit
  • Partial Withdrawal Benefit
  • Systematic Withdrawal Benefit
  • Five Fund Options

Read this page further and know more about the Exide Life New Future Perfect benefits.

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Exide Life New Future Perfect Benefits

The insurance company shall provide you and the nominee the below-mentioned benefits under the Exide Life New Future Perfect Plan.

Death Benefit for Your Nominee

Upon your death after the risk commencement date but before the maturity date, the company shall pay the death benefits to your nominee. If you die before the risk commencement date, the company shall pay the fund value only. In case the life assured’s age is less than twelve years on the policy commencement date, the life cover will commence after he/she attains the age of twelve years.

Maturity Benefit for the Life Assured

Upon survival till the maturity date, the company shall pay you the fund value at the prevailing rate.

Surrender Benefit for the Life Assured

The insurance company allows you to surrender this policy after the completion of three policy years. And to do the same, you need to give written notice to the company. Upon surrender, you’ll receive the fund value after the deduction of surrender charges. On such payments, the policy terminates.

Partial Withdrawal Benefit During the Policy Term

If you need money urgently during the policy term, you can withdraw funds using this facility. But this benefit is available to you after completion of three policy years and before the first systematic withdrawal. The partial withdrawal amount should not be less than 1.5X the annualized regular premium or any amount as may be specified by the company.

The company shall allow you to withdraw after deducting the partial withdrawal charges. If you die after getting partial withdrawal, the sum assured under the death benefit shall be reduced to the extent of the withdrawal amount made 24 months before the death.

You can do partial withdrawals not more than two times during the policy term. In the case of top-up premiums, you can do partial withdrawals after the completion of three years from the date of each top-up payment.

Note- Partial withdrawals are not allowed if the life assured is a minor.

Systematic Withdrawal Benefit

With the systematic withdrawal benefit, you can get the fund value on every policy anniversary if you have attained the age of 60 years. This benefit is equal to 5% of the fund value as on the date of payment, and an additional 0.5% upon completion of every policy year. You can get this benefit until the maturity date.

All the paid systematic withdrawal benefits shall be deducted from the sum assured. On the date of payment, if the fund value minus the systematic withdrawal benefit is less than a one-year premium, the policy terminates and the company shall pay you the remaining fund value.

If the systematic withdrawal benefit is due on the maturity date, you’ll receive the maturity benefit only.

The systematic withdrawal benefit or partial withdrawal is allowed to you by canceling units from the respective funds. In the case of more than one fund, the cancellation of units takes place in the same proportion as the aggregate value of the units held in each fund.

Exide Life New Future Perfect Investment Options for the Life Assured

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

Debt Fund: The fund provides security and moderate growth by investing 100% of the available funds in debt and debt-related instruments.

Secure Fund: The company makes investments in a mixture of bonds and equity to provide reasonable security and opportunity for growth. At least 10% and up to 20% of the available funds are invested in equity and equity-related instruments that include property and property-related instruments and the balance in debt securities and debt-related instruments.

Balanced Fund: With the aim of higher growth and reasonable security, this fund invests a minimum of 20% and up to 40% of the available funds in equity and equity-related instruments including property and property-related instruments. The remaining goes in debt securities and debt-related instruments.

Growth Fund: The investment objective of the fund is to provide you with high growth opportunities. So, a minimum of 40% and up to 60% of the available funds would be invested in equity and equity-related instruments including property and property-related instruments. While the balance is invested in debt securities and debt-related instruments.

Equity Fund: The fund maximizes growth through investments in a portfolio of equities, subject to a minimum of 90% and a maximum of 100%. Your money will be invested in equities or equity-related instruments including property or property-related instruments, debt and debt-related instruments.

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