Bonus rates for Exide Life My Retirement Plan (UIN:114N103V01)The table below shows the Bonus rates declared for Exide Life My Retirement Plan from inception. You can use this to calculate the Exide Life My Retirement Plan Maturity Value. The vested simple reversionary bonus rates are percentage of Sum Assured.
In case you have a plan with Sum Assured of Rs. 5,00,000 - Use the values in the table as following:
Bonus Value = Sum Assured x Bonus Rate / 100 = 5,00,000 x Bonus Rate / 100
Simple Reversionary Bonus
So to get to the Vesting value of Exide Life My Retirement Plan, you have to add all of the following - Basic Sum Assured on Vesting + Simple Reversionary Bonus + Terminal Bonus (if any).
As per current regulations, you will have the option to take the Vesting Benefit in the following manner:
- You have an option to take a commuted value (lump sum) to the extent allowed under Income Tax Act and to utilize the balanceamount to purchase immediate annuity with Exide Life Insurance, which shall be guaranteed for life at the then prevailing annuity/pension rates.
- Alternatively, you can utilize the entire proceeds to purchase a single premium deferred pension plan from Exide Life Insurance.If you choose to convert the Vesting benefit to an annuity, it will be through the purchase of a new policy from Exide Life Insurance under our then available annuity product.
Terminal bonus is not guaranteed and is a one-time bonus which, if declared, is payable on termination of the policy by way of death
or maturity. As of now we don't have any information on this.
Do let us know in case you need any further information on the bonus rates for this plan or in calculating the returns for your Exide Life My Retirement Plan
Please contact the Exide Life's office for exact details of the bonus which has accrued in your plan.