Investment Plans 167 views July 23, 2021

Exide Life Prospering Life Plus Plan

Exide Life Prospering Life Plus Plan helps you fulfill your goal of achieving a lifetime of prosperity. The reason being the plan provides life cover along with multiple investment fund options and strategies. You can enhance your chances to ensure maximum returns according to your investment needs and risk appetite.

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Have a look at the unique features of the plan below to get a brief idea about it.

  1. Multiple Policy and Premium Payment Term Options
  2. Automatic Asset Rebalancing Strategy
  3. Flexible Investment Fund Options
  4. Loyalty Benefit
  5. Life Cover up to 10 times the Annualized Premium
  6. Unlimited Free Switches and Redirection Facility
  7. Multiple Premium Payment Modes
  8. Structured Maturity Payout Period
  9. Partial Withdrawal Benefit
  10. A 15 or 30-day Free Look Period
  11. Tax Benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961
  12. A Grace Period of 15 or 30 days

You can read through this page to understand the features of Exide Life Prospering Life Plus Plan in detail. Let’s start.

Features and Benefits of the Exide Life Prospering Life Plus Plan in Detail

Exide Life Prospering Life Plus Plan is a non-participating unit-linked insurance product where you will need to bear the investment risk in the portfolio. We have talked about the features and benefits of this plan below. Please check.

What is the Policy and Premium Payment Term?

Under the Exide Life Prospering Life Plus Plan, you can select from multiple policy term options – 10 and 15 to 20 years. To know about policy and premium payment term combinations, check the below table.

Premium Payment Term (In Years)Policy Term (In Years)
510, 15 to 20
1015 to 20
15 and moreEqual to the Premium Payment Term

What is the Basic Sum Assured?

The basic sum assured under the plan depends on the entry age of the policyholder. For people with entry age below 45 years, it will be ten times the annualized premium, while for the entry age of 45 years or more, the sum assured will be seven times the annualized premium.

Automatic Asset Rebalancing Strategy

Policyholders can choose to allocate their money in a pre-decided ratio between equity (Exide Life Prime Equity) and debt (Exide Life Preserver) oriented fund according to their risk appetites.

Exide Life will reset the ratio between these two funds at a pre-decided ratio depending on the remaining years in the maturity. To know more about it, check the table below.

Number of Years to Maturity of the PolicyExide Life Prime EquityExide Life Preserver
16 - 209010
11 - 158020
6 - 106040
3 - 54060
0 - 22080

Note: Policyholders can enter or exit the automatic asset rebalancing strategy anytime during the policy term.

Multiple Investment Fund Options

Policyholders looking to have a diverse portfolio can choose from multiple investment fund options according to their needs. We are showing them below. Please check.

  1. Exide Life Prime Equity
  2. Growth Fund
  3. Balanced Fund
  4. Secure Fund
  5. Exide Life Preserver
  6. Exide Life Active Asset Allocation

Loyalty Benefit

Exide Life Prospering Life Plus Plan rewards you with loyalty benefits at the end of the policy term. This benefit will be a percentage of the fund value as per the following table.

Annual Premium (In INR)Percentage of Fund Value
Below 96,0000%
96,000 - 1,43,9990.50%
1,44,000 or above0.75%

Death Benefit

If the life assured dies during the policy term, Exide Life Prospering Life Plus Plan gives the death benefit to the nominee. It will be the highest of the following amounts.

  1. Sum Assured
  2. 105% of the premium paid (Including top-up premiums)
  3. Overall Fund Value

Note: Sum assured under the death benefit will be the basic sum assured and the additional sum assured on the top-up premium (if any).

Maturity Benefit

On the maturity of the policy, policyholders will get the fund value as the maturity benefit. Exide Life offers two options to get the benefit.

  1. The overall fund value as a lump sum
  2. A part of the fund value as a lump sum on the maturity date and the remaining in equal installments over five years after the maturity date

Structured Payout Period

Policyholders can choose from multiple options for the payment of maturity benefits. To know more about these options, check the table below.

OptionsPercentage of Fund Value on Maturity
120
240
360
480
5100

Note: You can choose the proportion of the lump sum, structured payout amounts and the frequency of structured payouts at least six months before the date of maturity. You cannot change it later.

Multiple Premium Payment Modes

Policyholders can choose to pay the premium amount by annual or monthly modes. However, on choosing the monthly mode, you will need to pay at least three months’ premiums at the time of submitting the proposal.

What is the Minimum and Maximum Premium Amount?

The minimum premium amount depends on the premium payment term and the premium payment frequency option. To know more, check the below table.

Premium Payment Term (In Years)Minimum Premium Amount (In INR)
YearlyMonthly
548,0005,000
1036,0004,000
15 or More24,0003,000

Note: There is no limit on the maximum premium amount.

Exide Life Prospering Life Plus Plan Eligibility Criteria

You will need to fulfill the following conditions before purchasing this plan.

  1. Minimum Age at Entry – 0 years
  2. Maximum Age at Entry – 55 years
  3. Minimum Age at Maturity – 18 years
  4. Maximum Age at Maturity – 75 years

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