Exide Life Retirement and Pension Plans

What are the Pension Plans?

Annuity or Retirement Pension plans are one such plan which are exclusively designed with the sole aim of providing continued income even after the retirement just to ensure that an individual can fulfill his or her every day expense without any hardships. There are several specialized pension plans with exciting benefits and features are all mentioned below:

1. When the plan attains it’s maturity and annuity, the payments starts and it is called the Vesting Date.

2. There are two types of plans as per the people’s needs and requirements. One of the plan is the Deferred Annuity plan in which the individual have to pay  premiums for a certain time period and after the completion of that time period, the plan attains it’s powering period and then the annuity begins. If due to any reason, the policy owner dies during that period, whole of the benefit amount is paid to the nominee. The other mentioned plan is the Immediate Annuity plan in which the individual pays an amount and annuity payments start immediately from the next month or any other period as chosen and there is no benefit payable on death. On death the annuity simply stops.

3. Annuity payments will be paid from the accumulated fund as the policyholder cannot withdraw the money invested in a pension plan. Only 1/3rd part of the money can be taken in cash as commuted pension.

Exide Life Pension / Annuity Plan

As humans we all invests most of our life and time working hard just to stand tall in our responsibilities and also to fulfill our needs and attain stability. Retirement period is said to be the golden years of anybody’s life, which gives you the opportunity to enjoy everything you always dreamt of and  to ensure your complete enjoyment plan after entering in the retirement years, it is extremely very important that you plan your retirement life well. Retirement Solutions from Exide Life Insurance allows you to construct substantial amount for your retirement therefore, simply ensuring your retirement period to be extremely worry free.

 Features and Benefits

1. This is a single pay policy therefore the premium for it is paid in one single approximate amount.

2. The minimum premium payable amount is Rs. 50,000 and the maximum payable amount has no limits.

3. The minimum payout amount offered by this policy is of Rs. 1,000.

4. The pay-outs can be withdrawn regularly on the basis of a month, a quarter, half an year or even on the  annual basis.

5. The policy also have the feature of a free look period of about 15 or 30 days.

6. It provides annuity payments for life.

7. It needs no medical examination to be done at the time of policy enrollment.

8. The death benefit of this policy is the refund of the entire, or a part of the entire, price paid for this policy.

9. If purchases made are of a large volume, the policy offers some attractive discounts too.

Exide Life New Smart Retirement / Pension Plan

Some of the key reasons to buy this plan:

1. Life cover upto 105% of total premiums paid which includes top-up premiums as well.

2. Helps you construct a safe and secure retirement empire which consists of ample amount of money to fulfill all the needs and requirements.

3. Provides liquidity to amend the vesting date and premium payment terms and conditions.

4. Loyalty add ons and benefits.

Eligibility Details

To stand a chance of eligibility to participate in this plan, your age has to be minimum of 45 years in case you are a new customer. For previously existing customers who may have deferred pension, there is no minimum age limit as such. The upper age limit for buying the policy is between age of 70 years and 75 years.

Exide Life New Immediate Annuity Plan

Some of the key reasons to buy this plan:

1. Lifelong Gauranteed Annuity pay outs for life.

2. Various different options to receive annuity.

3. Big huge discount on annuity rates are available which directly depends upon the purchase price amount.

4. No medical examination is needed.

5. On demise option for full refund of the purchase price.

Applying Pension Plan from the Company

 A. Online

There are a few of the plans which the company offers through the only mode only. To apply online, you are just requested to register using a login ID and password on the official website of the insurance company. Once you are logged-in, you now have to choose a particular policy plan, and fill in the application form for the same. After choosing and selecting the plan that fulfill all your needs and requirements, you can now, make the premium payment using either your debit card or credit card or even net banking.

B. Offline Application/ Intermediate

One can select and buy multiple plans of Exide Life Pension Plans from banks, agents, brokers, branch and intermediaries.

How Does a Guaranteed Period Annuity Plan work?

Here, the annuitant chooses to receive the annuity for a fixed number of years. If he dies within that time period, then the mentioned nominee will continue to get the annuity till the term expires and the purchase price is considered as null and void.

How does the Joint Annuity Plan Work?

When it comes to a joint annuity plan, 2 or more than 2 people are eligible to buy the plan together. Let us consider that Ram and his better half Priya have bought a joint annuity plan. Even after the death of Ram after a few years, Priya will be eligible to receive the annuity till the time she survives.

What role does a nominee play in Annuity Insurance?

The role of the nominee is extremely very less in an annuity plan. This is because the life of the policy owner is not under the coverage and if he dies, no death benefit is paid to the nominee. But yes, the purchase price which is the left over amount is usually returned to the nominee when the annuitant dies.


1. How to pay premium? Where are the modes of payment available?

Exide Life Insurance Company provides different modes of premium payment namely:

1. Cash payment at the branch

2. Online Payment


4.  ECS

5. Auto Debit

6. Credit Card and Debit Card

2. How can i check policy status for Exide Life Pension Plan?

One can easily check their policy status if you are successfully registered online. You just have to simply login with your policy number and data of birth on the MY LIFE tab to check your policy’s status. You can also check other policy details from the same link.

3. What is the policy renewal process for Exide Life Pension Plan?

You can renew policy online account by following the below mentioned steps:-

Step 1: Simply enter your policy details that is your policy number and date of birth to log into your account.

Step 2: Make your premium payment via Debit/Credit card or Net Banking.

Step 3: Print the cyber receipt of the premium payment made.

4. What is the company process to settle claim for Exide Life Pension Plan?

Please enter your claim on the Register Your Claim section in the website. Just fill in all the necessary information asked in various different disciplines. You also have to use the claim intimation form which can be collected from the branch, or you can even download it from the website or you can even ask for the form through mail and it be sent to you on your mail. Once all the documents are submitted to the company, it will provide you with a receipt and a reference number that can be quoted during all the communication. The claim will be settled within 7 working days. You can also check National Pension Scheme Benefits for more related information.

5. What is the policy cancellation process for Exide Life Insurance?

To cancel the policy, you can visit the branch personally with all your policy documents and properly filled surrender form. After the successful validation of the documents, the refund will be directly credited in your bank within 7 working days.