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What is Exide Life Wealth Maxima - Maxima Child?

You want to see your child do better than you. At Exide Life Insurance we understand the love and the ambitions you have for your child. That’s why Children Plans from Exide Life Insurance are meant for every parent like you.

Presenting Exide Life Wealth Maxima – Maxima Child, a Unit Linked Insurance Plan that aims to help you maximize your wealth while securing your child’s future.

Key Features

Entry Age Minimum : 18 Years
Maximum : 50 Years
Maximum Maturity Age 65 Years
Policy term 10, 15 to 20 Years
Premium Payment Term Same as policy term
Premium payment frequency Annual, Half-Yearly, monthly**
Minimum Premium Annual : ₹36,000
Semi Annual : ₹24,000
Monthly : ₹4,000
Top Up Premium Minimum : ₹6,000 per transaction
Maximum : ₹7,80,000
Sum Assured For age till 44 years : Annualized premium x 10
For age above 44 years : Annualized Premium x (7 or 10)
Top Up Sum Assured For age# below 45 years :1.25 times top-up premium For age# 45 years or above: 1.1 times top-up premium.
#The age here refers to age at which Top-up premium is paid
*In case of Maxima Child, the nominee must be a minor child. (Age at entry 0-17 years)
**For monthly mode, 3 monthly premiums will be required to be paid on the commencement of the policy.

Charges

A. Premium Allocation Charge:(as a percentage of premium)
Year Annual Half-Yearly and Monthly
1st 6.0% 4.75%
2nd to 5th Year 4.0% 3.25%
6th year onwards 2.5% 2.5%
B. Policy Administration Charges (as a percentage of premium)
Year Charges as a percentage of annual premium
1st - 5th year 0.20% per month
6th Year onwards 0.30% per month
The maximum policy administration charge is capped at ₹500 per month.
C. Fund Management Charge:

Fund Management Charge is a charge levied on a daily basis as a percentage of the value of assets held in the unit fund at the time of computation of the unit price. The Fund Management Charges applicable, at present, are as follows

Fund Name % of Fund Value (per annum)
Exide Life Prime Equity Fund 1.35%
Exide Life Growth Fund 1.25%
Exide Life Balanced Fund 1.25%
Exide Life Secure Fund 1.00%
Exide Life Preserver Fund 1.00%
Exide Life Active Asset Allocation Fund 1.35%
The maximum Fund management charge is capped at 1.35%
D. Charges on Partial Withdrawal / Fund Switching / Re-direction: Nil

Funds available under this product

Fund Name Debt – Equity Mix Objective Risk
Classification
Exide Life Active Asset Allocation Fund Debt: 0% to 80%
Equity: 20% to 100%
To provide long term capital appreciation in a risk controlled manner by making clear and active asset allocation choices between Equities, Bonds and Money Market High
Exide Life Prime Equity Fund Debt: 0% to 10%
Equity: 90% to 100%
To provide for equity linked market returns High
Exide Life Growth Fund Debt: 0% to 60%
Equity: 40% to 60%
To provide opportunity for high growth Medium
Exide Life Balanced Fund Debt: 0% to 80%
Equity: 20% to 40%
To provide for higher growth with reasonable security Medium
Exide Life Secure Fund Debt: 0% to 90%
Equity: 10% to 20%
To provide for growth with low risk Low
Exide Life Preserver Fund Debt : 75% to 100%
Equity: 0%
To provide safety and growth with minimum risk Low

Key Benefits

A. Premium funding benefit along with life cover

Incase of an unfortunate event, an amount equal to the Life Cover is paid to the beneficiary. In addition, all future premiums are funded by Exide Life Insurance on your behalf. This way the plan continues for the full policy term and on maturity the fund value is paid to the beneficiary.

Life Cover Amount
Paid Immediately
= 10 times* the
Annualized Premium

*For entry age of 45 years and above, you can choose life cover of 7 times the annualized premium. Life cover can never be less than 105% of the premiums paid.
B. Maturity Benefit

On completing the policy term, the fund value as on maturity date is paid as the maturity benefit.

Fund Value as on
maturity date
= Unit price as on
maturity date
X Number
of Units
C. Investment strategies to suit your investment style

1. Choose from 6 fund options:

Fund name Debt – Equity Mix Risk Level
Exide Life Active Asset Allocation Fund Debt: 0% to 80%
Equity: 20% to 100%
High
Exide Life Prime Equity Fund Debt: 0% to 10%
Equity: 90% to 100%
High
Exide Life Growth Fund Debt: 0% to 60%
Equity: 40% to 60%
Medium
Exide Life Balanced Fund Debt: 0% to 80%
Equity: 20% to 40%
Medium
Exide Life Secure Fund Debt : 0% to 90%
Equity: 10% to 20%
Low
Exide Life Preserver Fund Debt : 75% to 100%
Equity: 0%
Low

Benefit from Active Asset Allocation style fund of management:

  • This fund has wide range of flexibility to invest in equity and debt fund
  • This gives freedom to the fund manager to identify and allocate your money with more agility in asset classes that are gaining strength.

2. Systematic Transfer Plan: This strategy ensures equity exposure in a systematic manner. Allocated Premium is invested in Exide Life Preserver fund and starting immediately and thereafter, on every monthly anniversary, pre-defined proportion of Fund Value is transferred from Exide Life Preserver Fund to Exide Life Prime Equity fund.

3. Automatic Asset Rebalancing Strategy: The Automatic Asset Rebalancing Strategy feature automates the percentage of equity exposure your investments should have over the policy term- high in start of the policy and then gradually decreasing to conserve the fund value as you approach your goal on policy maturity.

No. of years to maturity Exide Life Prime Equity Exide Life Preserver
20 90% 10%
15 – 19 80% 20%
10 – 14 60%
40%
5 – 9 40% 60%
0 – 4 20% 80%
D. Benefit from Top - Ups

This plan allows you to invest surplus money as top- up, whenever you want to.

(Not allowed in last 5 Policy years)
E. Loyalty Benefit
This plan offers loyality additions at the end of 10th,15th and 20th policy years if base annualized premium paid is ₹72,000 or more.

Loyalty
Additions
= 2% of ( Fund Value
on last business day
of current year
+ Fund Value on last business day of previous year ) /2
F. Tax savings

This plan offers tax benefits* on premiums paid under section 80C and on maturity amounts under section 10(10D )

(*For entry age of 45 years and above, tax benefit may be limited if life cover is 7 times the annualized premium.)

How does the Plan Work?

30 year old Arun has a 1 year old daughter and wants to save ₹20 Lacs for her higher education. He saves ₹5,000 p.m. in Exide Life Wealth Maxima for 20 years. He opts for Maxima Child variant and invests in Exide Life Active Asset Allocation Fund. Unfortunately he meets with an accident in 5th policy year and does not survive. This Plan offers following financial benefits to the family:

Exide Life wealth maxima - Child future plans
Premium mentioned is inclusive of service tax

3 Reasons to buy this plan

1 Premium Funding benefit along with life cover
2 3 investment strategies to suit your risk appetite
3 Systematic investment option to benefit from equity markets
Insurance is the subject matter of the solicitation Exide Life Wealth Maxima UIN: 114L079V01. Exide Life Insurance Company Limited is a wholly owned subsidiary of Exide Industries Limited. The trademark “Exide” is owned by Exide Industries Limited and licensed to Exide Life Insurance vide Trademark license agreement dated 30th October 2014. Exide Life Insurance Company Limited (Formerly known as ING Vysya Life Insurance Company Limited). IRDAI Registration number: 114, CIN: U66010KA2000PLC028273, Registered Office: 3rd Floor, JP Techno Park, No.3/1, Millers Road, Bengaluru - 560 001; Toll Free: 1800 419 8228; Visit: exidelife.in.
Exide Life Wealth Maxima - Maxima Child
Who should buy?
X

Who should buy?

This plan is suitable for all parents looking for efficient wealth creation options and want to ensure higher financial protection for their child.
>
What is Exide Life Wealth Maxima - Maxima Child?

You want to see your child do better than you. At Exide Life Insurance we understand the love and the ambitions >>

(UIN:114L079V01)
Key Benefits
Key Benefits
How this plan works
How this plan works?
3 Reasons
to buy this plan
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