Exide Life Golden Years Retirement Plan

Exide Life Golden Years Retirement Plan is a traditional Pension plan with variable benefits to provide for a tension-free life after retirement.

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  • Invest 20 Lacs Get ₹ 1.6 Lacs pension for Life

  • Guaranteed Return For Life

  • Multiple Annuity Options

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Key Features

  • It is  variable pension  Plan where the premium paid net of charges is transferred to Individual Pension Account (IPA) where it will be invested in Capital Guaranteed Plan
  • Minimum Floor Rate, Additional Interest Rate and Residual Addition is added to the IPA
  • The annuity payable is guaranteed for life


  • 1% is added as the Minimum Floor Rate, 4% as the Additional Interest rate and Residual Addition is added form the 5th policy year
  • On death, higher of 105% of all premiums paid including top-up premiums or total premiums paid including top-up premiums compounded @ 1% or balance in the IPA with prorated interest is paid to the nominee
  • The nominee can withdraw the entire benefit or utilize the benefit in full or in part to buy annuity form the company
  • On Vesting, higher of total premiums paid including top-up premiums compounded @ 1% or balance in the IPA is paid.
  • The policyholder can use the benefit to:
  • Purchase a Single Premium Deferred Annuity Plan from the company
  • Commute 1/3rd of the corpus and purchase an Immediate Annuity with the remaining 2/3rd part from the company
  • Extend the Vesting Date if age is lower than 55 years
    • Income tax benefit on the premium paid as per Section 80CCC of the Income Tax Act, on the commuted part under Section 10(10A) and on the death benefit under Section 10(10D)

Product Specification:




Entry Age (Last Birthday)

18 years

65 years

Vesting Term (years)



Premium Paying Term (years)



Yearly Premium


No limit

Premium payment Frequency

Monthly, yearly

Details about Premium


45 years

Policy Term and PPT

20 years



IPA Value @ 4%


IPA Value @ 8%


Policy Details

Grace Period: Grace period of 15 days is allowed in monthly mode and 30 days in annual mode

Read More: What is Annuity | Annuity Calculator

Policy Termination or Surrender Benefit:: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinued Pension Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges. The Surrender Value should be used to receive annuity under the same options as on vesting except the vesting date cannot be extended

Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.


  • Top-ups are allowed for increasing the corpus in any year two years prior to Vesting with a minimum amount of Rs.2000

Additional Features or Riders

  • Loyalty Benefits are paid equal to 100% of the allocation charges if total premiums paid are 480,000 or higher
  • The PPT can be altered subject to terms and conditions

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents.

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Including Life Cover
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