Outlook Money – 01.03.2018

Minimum Entry Age 0 years

Maximum Entry Age 65 years (for standard life)

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

Annually, Half-yearly, Monthly**

Minimum Premium

Annual: `2 lakh

Semi-annual: `1 lakh

Monthly: `20,000

For age up to 44 years For age above 44 years

Minimum Sum

Assured

Annualised

premium* x 10

Annualised Premium x

(7 only)***

Maximum Sum

Assured

Annualised

premium* x 20

Annualised Premium x

(10 only)

* Annualised premium shall be 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 the option to choose sum assured as 7 or 10

times the annualised premium at inception”.

W

ealth Elite by Exide
Life Insurance is a
Unit Linked Plan
meant for those who
belong to the high income category
and are looking for wealth creation
and protection under one single plan.
Apart from standard switches and
premium redirection, the plan offers
two pre-determined/automated fund
switching strategies – Automatic
Asset Rebalancing Strategy and
Systematic Transfer Plan. It also
offers unlimited partial withdrawal
benefits after the completion of five
policy years, which can help provide
liquidity for financial emergencies
under certain conditions. The sum
assured is not reduced due to any
partial withdrawal.
Let us take a closer look at some of
the advantages and disadvantages of
this product.

Investment options: “If one
wishes to manage funds actively,

A Flexible ULIP For HNIs

The affluent class can now save and protect their lives by investing in Exide

Life’s Wealth Elite Unit Linked Plan. By Anagh Pal

Flexible Options

Kshitij Jain

MD & CEO – Exide Life Insurance

What kind of investors is the

Exide Life Wealth Elite plan

suitable for?

Exide Life Wealth Elite is a Unit

Linked Insurance Plan (ULIP)

that is suitable for investors

looking for efficient wealth

creation options who also want

to ensure higher financial

protection for their family as their

responsibilities grow. It is for

those who:

Have a long-term view towards

investments

Seek financial protection

Ideally earn a minimum of

`20-25 lakh a year

What is the rationale behind

designing this product?

Our reading of our 15 lakh plus

customers indicates that there is

a growing segment of customers

who have a sizeable investible

surplus. This fact has also been

corroborated by market trends,

where we see a steady growth

in the number of large retail

investors. However, the product

structure needs to be aligned

to this segment, and this calls

for a range of fund options,

efficient charging, flexibility and

substantial protection, which

only ULIPs can offer. The result

is Exide Life Wealth Elite.

At a Glance: Eligibility and Features

60 Outlook Money March 2018 http://www.outlookmoney.com

Product Review