Exide Life Wealth Maxima Case Study
Exide Life Wealth Maxima – Overview
Exide Life Wealth Maxima is a non-participating unit linked life insurance plan that helps in maximising wealth and offers the option to increase the life cover at different stages of life. It provides several long-term wealth creation opportunities by way of investment in 6 different funds in the capital markets. This plan allows upgrading the level of protection at important milestones in life such as marriage, the birth of a child, etc. It does this by offering 3 product variants on the basis of the life stage of the life insured. These variants are Maxima Invest, Maxima Family and Maxima Child. This allows the policyholder to make the right decision with his/her evolving protection needs.
Key Features …show more content…
It allows increasing the life cover at different stages in life with an increase in responsibilities.
• 3 Plan Options for Every Life Stage: This policy offers a choice of 3 variants to cater to important stages in life. The life cover can be increased in the same policy by moving from one plan option to another. These variants are: o Maxima Invest: This variant is appropriate for unmarried single individuals who want to grow their money in the most efficient manner. The protection need of such people is relatively low. o Maxima Family: This variant is apt for people are married and are looking to strike a balance between investment and protection o Maxima Child: This plan option is suitable for people who have a kid or kids. It ensures that the dreams of the child are fulfilled even in the absence of the life insured.
• Choice of Investment Strategies: The policy provides 3 investment strategies to suit different investment styles and risk appetites. These are Self-Managed Option, Systematic Transfer Plan and Automatic Asset Rebalancing …show more content…
after the date of risk commencement but before the date of maturity, subject to the policy being in force, life cover is paid to the nominee or eligible person as Death Benefit. The life cover is based on the product variant chosen by the policyholder as mentioned in the policy schedule.
Maxima Invest: Life cover is higher of: o Sum Assured o 105% of the premiums paid, including top-up premiums (if any) o Fund Value
Maxima Family: Life cover is higher of: o Sum Assured o 105% of the premiums paid, including top-up premiums (if any) + Fund Value
Maxima Child: Life cover is higher of: o Sum Assured o 105% of the premiums paid, including top-up premiums (if any)
In addition to a lump sum amount on the demise of the life insured, the insurance company also funds all future premiums and the policy continues till maturity. The Fund Value is paid on policy maturity ensuring that the child receives money when he/she needs it the most.
• Maturity Benefit: On policy maturity, provided the policy is in force, the Fund Value as on the date of maturity is paid as Maturity Benefit.
Fund Value as on the date of maturity = Unit price as on the date of maturity x Number of units at
Exide Life Wealth Maxima is a non-participating unit linked life insurance plan that helps in maximising wealth and offers the option to increase the life cover at different stages of life. It provides several long-term wealth creation opportunities by way of investment in 6 different funds in the capital markets. This plan allows upgrading the level of protection at important milestones in life such as marriage, the birth of a child, etc. It does this by offering 3 product variants on the basis of the life stage of the life insured. These variants are Maxima Invest, Maxima Family and Maxima Child. This allows the policyholder to make the right decision with his/her evolving protection needs.
Key Features …show more content…
It allows increasing the life cover at different stages in life with an increase in responsibilities.
• 3 Plan Options for Every Life Stage: This policy offers a choice of 3 variants to cater to important stages in life. The life cover can be increased in the same policy by moving from one plan option to another. These variants are: o Maxima Invest: This variant is appropriate for unmarried single individuals who want to grow their money in the most efficient manner. The protection need of such people is relatively low. o Maxima Family: This variant is apt for people are married and are looking to strike a balance between investment and protection o Maxima Child: This plan option is suitable for people who have a kid or kids. It ensures that the dreams of the child are fulfilled even in the absence of the life insured.
• Choice of Investment Strategies: The policy provides 3 investment strategies to suit different investment styles and risk appetites. These are Self-Managed Option, Systematic Transfer Plan and Automatic Asset Rebalancing …show more content…
after the date of risk commencement but before the date of maturity, subject to the policy being in force, life cover is paid to the nominee or eligible person as Death Benefit. The life cover is based on the product variant chosen by the policyholder as mentioned in the policy schedule.
Maxima Invest: Life cover is higher of: o Sum Assured o 105% of the premiums paid, including top-up premiums (if any) o Fund Value
Maxima Family: Life cover is higher of: o Sum Assured o 105% of the premiums paid, including top-up premiums (if any) + Fund Value
Maxima Child: Life cover is higher of: o Sum Assured o 105% of the premiums paid, including top-up premiums (if any)
In addition to a lump sum amount on the demise of the life insured, the insurance company also funds all future premiums and the policy continues till maturity. The Fund Value is paid on policy maturity ensuring that the child receives money when he/she needs it the most.
• Maturity Benefit: On policy maturity, provided the policy is in force, the Fund Value as on the date of maturity is paid as Maturity Benefit.
Fund Value as on the date of maturity = Unit price as on the date of maturity x Number of units at