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What is Exide Life Wealth Elite?

As you work hard to climb the ladder of success and reach different milestones, it's important that you organize your hard earned money that works harder than you do. Your investments must ensure that you keep living the exclusive life you've worked so hard for.

Keeping this in mind, we have designed Exide Life Wealth Elite – a unit linked insurance plan for a special few like you.

3 Reasons to buy this Exide Life Wealth Elite plan

1 Reduced allocation and administration charges to enhance your fund value
2 7 Fund options: Introducing Exide Life MidCap Fund
3 Comprehensive Life Cover

Key Benefits of Exide Life Wealth Elite

1. Maturity Benefit

On maturity, you get an amount equal to the fund value. The plan offers liquidity by allowing partial withdrawals after completion of 5th policy year

Fund Value as on Maturity date = Unit Price as on maturity date x Number of Units

You can avail your maturity benefit as lump sum or as deferred settlement.

2. Comprehensive Life Cover

In case of an unfortunate demise of the policy holder, a lump sum amount is paid to the family:

Life Insurance
cover amount
= Higher of ( 10 to 20* times
Annualized premium
or Fund Value or 105% of the
premiums paid
)
* for entry age of 45 and above, you can choose life cover of (7 or 10) times the annualized Premium.
3. Investment strategies to suit your investment style
You can enhance the overall protection by adding riders at a nominal additional premium. You can choose from the following riders:

a. Choose from 7 fund options with unlimited free switches:

Fund Name Debt-Equity mix Risk Level
Exide Life Midcap Fund
(SFIN: ULIF01710/03/17MIDCAP114)
Equity: 75% to 100%
Money Market: 0% to 25%
Very High
Exide Life Prime Equity Fund
(SFIN: ULIF01116/12/09PRIMEEQU114)
Equity: 90% to 100%
Debt: 0% to 10%
Money Market: 0% to 10%
High
Exide Life Active Asset Allocation Fund
(SFIN: ULIF01527/12/10ACTASSET114)
Equity: 20%-100
Debt: 0%–80%
Money Market: 0%-80%
High
Exide Life Growth Fund
(SFIN: ULIF00318/10/04GROWTH114)
Equity: 40% to 60%
Debt: 0% to 60%
Money Market: 0% to 20%
Medium
Exide Life Balanced Fund
(SFIN: ULIF00118/10/04BALANCE114)
Equity: 20% to 40%
Debt: 0% to 80%
Money Market: 0% to 20%
Medium
Exide Life Secure Fund
(SFIN: ULIF00418/10/04SECURE114)
Equity: 10% to 20%
Debt: 0% to 90%
Money Market: 0% to 20%
Low
Exide Life Preserver Fund
(SFIN: ULIF01016/12/09PRESERVER114)
Debt : 75% to 100%
Money Market: 0% to 25%
Low

b. Automatic Asset Rebalancing Strategy:

The Automatic Asset Rebalancing Strategy feature automates the percentage of equity exposure your investment should have over the policy term- high at the 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 Midcap Fund/Exide Life Prime Equity Fund Exide Life Preserver Fund
20 90 10
15 – 19 80 20
10 – 14 60 40
5 – 9 40 60
0 – 4 20 80

c. Systematic Transfer Plan:

This strategy ensures equity exposure in a systematic manner. Allocated Premium is invested in Exide Life Preserver Fund starting immediately and thereafter every month, pre-defined proportion of units is transferred from the Exide Life Preserver Fund in to the Exide Life Prime Equity Fund/Exide Life Midcap Fund.

4. Charges

a. Premium Allocation Charges (as a percentage of premium):

For annualized premium of ₹5 lakh and above, there are Zero allocation charges on first year premium. Thereafter a nominal charge is levied for subsequent years. Below is the premium wise charging structure:

Annualized Premium Year 1 Year 2-5 Year 6+
₹2,00,000 – ₹2,99,999 4% 3% 2%
₹3,00,000 - ₹4,99,999 2% 2% 2%
₹5,00,000 & above 0% 1% 1%

b. Policy Administration Charges:

Effective 6th policy year onwards, there are no policy administration charges except in policies which are discontinued.

Year Charges as a percentage of annual premium
1 - 5 0.24% per month
6 onwards Nil
The maximum policy administration charge is capped at ₹500 per month.

c. Fund Management Charges :

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 Midcap Fund 1.35%
Exide Life Prime Equity Fund 1.35%
Exide Life Active Asset Allocation 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%
The Maximum Fund Management charge is capped at 1.35%.

d. Charges on Partial Withdrawal / Fund Switching / Re-direction:

Nil

5. Tax Benefits

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


(*As per applicable income tax laws subject to change from time to time. For entry age of 45 years and above, tax benefit may be limited if chosen life cover is 7 times the annualized premium).

How this plan works?

Illustration

Mr Arvind is 40 years old and works as Vice President in a large multi-national company. He chooses to invest ₹5 lakhs per annum in Exide Life Wealth Elite for 15 years and opts for 100% allocation in newly launched Exide Life Mid Cap Fund. Following are the benefits; he would receive from this plan:


  • Fund Value paid on completion of policy term:

    ₹123,79,503 @ 8% p.a.
    ₹88, 89, 048 @ 4% p.a.

  • Minimum Life Cover of ₹50,00,000 throughout the policy term

  • Tax Benefits u/s 80C and u/s 10(10D) as per prevailing income tax laws

Key Features

Minimum Entry Age 0 Years
Maximum Entry Age 65 Years (for standard lives)
Maximum Maturity Age 75 years
Policy term 10, 15 to 20 Years
Premium payment term(PPT) Regular PPT: 10,15 to 20 years
Limited PPT: 10 years
Premium payment frequency Annual, Half-Yearly, Monthly**
Minimum Premium Annual
Semi Annual
Monthly
: ₹2,00,000
: ₹100,000
: ₹20,000

Minimum Sum Assured
Maximum Sum Assured
For age up to 44 years
Annualized Premium* x 10
Annualized Premium x 20
For age above 44 years
Annualized premium x (7 only)***
Annualized premium x (10 only)

* Annualized premium shall be the premium payable in a year chosen by the policyholder, excluding the underwriting extra premiums and loadings for modal premiums, if any.

**For monthly mode, maximum 3 monthly premiums will be required to be paid on the commencement of the policy and only automated modes of payment shall be available for future payments.

***policyholder with entry age 45 years and above has option to choose Sum Assured as 7 or 10 times the annualized premium at inception.

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What is Exide Life Wealth Elite?

As you work hard to climb the ladder of success and reach different milestones, it's important that you organize your hard >>

(UIN:114L087V01)
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Key Benefits
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