Exide Life Insurance Company is one of the most reputed insurance companies in India. Having more than 15 lakh customers across the country, Exide Life Insurance’s customer base is consistently growing.
Awarded as “India Leadership Award” for Marketing and Social media initiative
For every stage of a customer’s life, the company provides solutions that will help him/her to live a great life till the Golden years along with building the solid financial foundation for the customer’s family. The company steps beyond life insurance and provides need based life insurance solutions.
Social Media Presence: Twitter Self Service has been created for the customers with the Tweet tag as @ExideLifeCares to utilise the predefined services for their life insurance policies. One can Tweet with “Hi” or “Hello”@ExideLifeCares with their “DOB” and “Exide Life Insurance Policy Number” and the customer can interact with the automated service.
Online Services: The various automated services offered currently are online renewal premium payment, download payment receipt, instantly update the contact details, to check policy status on the go, policy due date reminder, querying for policy premium and survival benefits.
Easy Claim Settlement: Claim has to be intimated as soon as it occurs. Claim form can be downloaded from the Exide Life insurance website or the customer can walk into the nearest branch office to obtain a claim form. Fill in all the details and submit the claim form to the branch office or he/she can mail them to the headoffice for easy processing of your claim.
Online Payment: Moving from traditional policy processing to digital platforms, the Premium Payments can be done online for the ease of the customer. The customer can renew his/her policy through paying premium online using credit or debit cards, net banking and also through e- wallets in an easy way.
Mobile App: With the help of the company’s Mobile Application, all the required transactions that need to be carried out by the customer can be performed through this app. Starting from exploring the different plans available in the company, ranging till paying the premium online as well as tracking the fund status are .
A special term insurance plan, which gives you comprehensive protection cover and at the same time helps you ensure a secured future for your family. This plan offers 3 different plan options that provide you the desired protection cover and also returns the premiums paid by you on completion of policy term. What’s more, the plan provides life cover at a nominal premium too.
Smart Term Edge Plan: There are 3 plan options namely Classic, Step-up, and Comprehensive.
Sum Assured: Minimum sum assured starts from Rs. 5 Lakhs for Classic Option and Rs. 10 Lakhs for Step up and Comprehensive Option. There is no upper limit on the maximum sum assured.
Exide Life Term Rider
This Rider is an add on product which can be attached to Exide Life Insurance Traditional plans with an enhanced life coverage at an affordable additional premium. Existing Policy holder can opt this cover at the time of renewal and new customers can purchase it as a traditional policy when he or she wants to enhance their life protection.
Benefits of the Plan: It is a non-linked participating life insurance plan that is designed to offer Maturity Benefit, dual options for receiving Survival Benefit, Death Benefit and double life insurance cover in case of an Accidental Death.
Tax Benefits: The insured can avail tax benefits on annual premium paid towards Exide Life My Money Back Plan as per Section 80C of the Income Tax Act, 1961. The payout received as survival and maturity benefit is tax-free as per Section 10(10D) of the Income Tax Act, 1961.
Sum Assured: Minimum Basic Sum Assured starts at just Rs. 194,489 and there is no maximum limit on the same.
Premium Payment Frequency: The policyholder can opt for annual premium of Rs. 24,000 or monthly premium of Rs. 2,180. There is no upper limit on the maximum premium payment.
Grace Period: Grace period is 30 days for annual premium payment mode and 15 days for monthly premium payment mode. Bonuses: Exide Life My Money Back Plan specializes in offering two types of bonuses. Simple Reversionary Bonus (SRB) vests annually on each policy anniversary, payable on maturity of the policy or on the life assured’s death, whichever is earlier. Terminal Bonus (TB), if any, will be payable on maturity of the policy or on death of the life assured, whichever is earlier.
Maturity Benefit: The plan offers Vested Simple Reversionary Bonus, if any, and Terminal Bonus, if any, provided the premiums have been paid.
Benefits of the Plan: Exide Life Income Advantage Plan offers varied benefits in the form of Survival Benefit, Death Benefit, Maturity Benefit, Simple Reversionary Bonus, Special Additional Bonus and Terminal Bonus.
Tax Benefits: The insured can avail tax benefits on annual premium paid towards this Plan as per Section 80C of the Income Tax Act, 1961. The payout received as survival and maturity benefit is tax-free as per Section 10(10D) of the Income Tax Act, 1961.
Premium Payment Frequency: Annual, Half-yearly and Monthly
Grace Period: Grace period is 15 days for monthly premium payment mode and 30 days for other premium payment modes offered by this plan.
Bonuses: Simple Reversionary Bonus can be received in two forms i.e. Pure Income Benefit or Income with Maturity Benefit. Terminal bonus, if any, will be paid on policy maturity or on death of the life assured, whichever is earlier.
Maturity Benefit: The last instalment of Guaranteed Income payable during the Benefit Payout Term is payable on maturity, along with simple reversionary bonus accrued every year during the policy term, if any and terminal bonus, if any.
Exide Life Jeevan Uday Plan
Benefits of the Plan: Exide Life Jeevan Uday Plan offers Guaranteed Income, Maturity Benefit, Life Cover and Extended Life Cover.
Tax Benefits: The insured can avail tax benefits on annual premium paid towards this Plan as per Section 80C of the Income Tax Act, 1961. The payout received as survival and maturity benefit is tax-free as per Section 10(10D) of the Income Tax Act, 1961.
Premium Payment Frequency: Annual, half-yearly, quarterly and monthly
Grace Period: Grace period is 15 days for monthly premium payment mode and 30 days for other premium payment modes offered by this plan.
Maturity Benefit: After the plan completes its policy term, the insured receives the pre-decided sum assured as the Maturity Benefit.
Benefits of the Plan: Being a non-participating unit linked life insurance plan, Exide Life Wealth Maxima is an insurance cum investment plan. It offers three product variants that are customized to meet the unique objectives of individuals across three different life stages. It also enables the insured to invest in funds as per his/her choice. Further, there are also loyalty additions that the insured can avail against this plan. Apart from Maturity Benefit and Life Cover, it also offers the policyholder the flexibility to switch between the variants to suit changing insurance needs.
Tax Benefits: The insured can avail tax benefits on annual premium paid towards this Plan as per Section 80C of the Income Tax Act, 1961. The maturity payout received is tax-free as per Section 10(10D) of the Income Tax Act, 1961.
Premium Payment Frequency: Same as the policy period of 10, 15 to 20 years.
Grace Period: Grace period is 15 days for monthly premium payment mode and 30 days for other premium payment modes offered by this plan.
Loyalty Addition- This plan allocates extra units at the end of every 5th policy year, starting from the end of 10th policy year.
Maturity Benefit: The policyholder can choose from either of these two options at the time of purchasing the insurance plan.
Benefits of the Plan: Exide Life Secured Income Insurance Plus is designed to offer Death Benefit, and two options of Guaranteed Death Benefit payment that policyholders can choose from, as per their varied insurance objectives. Besides, this plan also offers add-on riders and the advantage of applying for a loan up to a certain percentage of the pre-decided sum assured.
Tax Benefits: The insured can avail tax benefits on annual premium paid towards this plan as per Section 80C of the Income Tax Act, 1961. The payout on death and maturity is tax-free as per Section 10(10D) of the Income Tax Act, 1961. Insured individuals who have opted for the critical illness rider will be eligible for availing tax benefits on rider premiums paid under Section 80D of Income Tax Act, 1961.
Premium Payment Frequency: Annual and monthly
Grace Period: Grace period is 15 days for monthly premium payment mode and 30 days for other premium payment modes offered by this plan.
Bonuses: Simple Reversionary Bonus: Exide Life Insurance may declare bonus as a percentage of 'Sum Assured ' which will be attached to your policy and will be paid at death or maturity of the policy, whichever is earlier. Terminal Bonus: Exide Life Insurance may also declare a terminal bonus from 10th policy year and is payable at maturity of policy or death of the life assured.
Maturity Benefit: Exide Life Secured Income Insurance Plus provides 10% additional guaranteed Sum Assured on maturity of the policy. The total maturity benefit is a combination of Guaranteed Sum Assured, 10% of Guaranteed Sum Assured, Vested Bonus (if any) and Terminal Bonus (if any). The Maturity Benefit will never be less than 105% of all the premiums paid, subject to the payment of all premiums.
Benefits of the Plan: Exide Life Secured Income Insurance RP offers Death Benefit and Maturity Benefit. The life cover is integrated with a family Income Benefit option. It also includes the convenience of enhanced protection and discount on high premium payments.
Tax Benefits: The insured can avail tax benefits on annual premium paid towards this Plan as per Section 80C of the Income Tax Act, 1961. The payout as maturity and death benefit is tax-free as per Section 10(10D) of the Income Tax Act, 1961. Insured who have opted for the critical illness rider will be eligible for availing tax benefits on annual premiums paid under Section 80D of Income Tax Act, 1961. The insured who have opted for the critical illness rider can avail tax benefits on the rider premium payments made under Section 80D of the Income Tax Act, 1961.
Grace Period: Grace period is 30 days for annual premium payment frequency and 15 days for monthly premium payment frequency.
Bonuses: Simple Reversionary Bonus: Exide Life Insurance may declare bonus as a percentage of 'Sum Assured ' which will be attached to your policy and will be paid on death or maturity of the policy whichever is earlier. Terminal Bonus: Exide Life Insurance may also declare a terminal bonus from 10th policy year and is payable at maturity of policy or death of the life assured.
Maturity Benefit: The Maturity Benefit offered by this Exide Life Insurance includes a mix of the pre-decided sum assured along with the vested bonus, if any, and terminal bonus, if any. The Maturity Benefit will be at least 105% of all the premiums paid, provided all the premiums have been duly paid by the policyholder.
Benefits of the Plan: The plan offers financial protection to the insured through Guaranteed Maturity Benefit and double life cover in case of an accident. Not just that, the policy offers the benefit of offering life cover throughout the chosen term on paying for 5 years only.
Tax Benefits: The insured can avail tax benefits on annual premium paid towards this Plan as per Section 80C of the Income Tax Act, 1961. The payout received as maturity and death benefit is tax-free as per Section 10(10D) of the Income Tax Act, 1961. Insured who have opted for the critical illness rider will be eligible for availing tax benefits on annual premiums paid under Section 80D of Income Tax Act, 1961.
Grace Period: Grace period is 30 days for annual premium payment mode and 15 days for monthly premium payment mode.
Maturity Benefit: On completion of the maturity term, the insured is receives a combination of sum assured along with Accrued Guaranteed Additions and Loyalty Benefit.
Benefits of the Plan: An endowment plan that offers guaranteed maturity Benefit and comprehensive life cover, which can be extended by 2 to 3 years.
Tax Benefits: The insured can avail tax benefits on annual premium paid towards this Plan as per Section 80C of the Income Tax Act, 1961. The payout as received as death and maturity benefit is tax-free as per Section 10(10D) of the Income Tax Act, 1961.
Grace Period: The plan a grace period of 30 days.
Maturity Benefit: The pre-determined sum assured is paid to the insured on the completion of the maturity term of the policy.
Benefits of the Plan: Exide Life Wealth Elite Plan is a Unit Linked Investment Plan that serves the dual purpose of insurance and investment. It offers 7 fund options, maturity benefit and comprehensive life cover are the highlights of the Exide Life Wealth Elite Plan. The policyholder enjoys the flexibility of investing in the fund of his/her preference.
Tax Benefits: The insured can avail tax benefits on annual premium paid towards this Plan as per Section 80C of the Income Tax Act, 1961. The payout received as death and maturity benefit is tax-free as per Section 10(10D) of the Income Tax Act, 1961.
Grace Period: Grace period is 30 days for annual and half yearly premium payment frequencies and 15 days for monthly premium payment frequency.
Maturity Benefit: The Fund Value on the maturity date is the maturity benefit. The Fund Value is calculated as: NAV on the date of maturity X no. of units at maturity The Maturity Benefit is paid in either of these options, as opted by the insured:
Lump sum: Fund value as on the date of maturity in the form of lump sum Settlement Payout: A part of the fund value as on the date of maturity as a lump sum amount and the balance in equal monthly or quarterly or half yearly or annual instalments over a period of 5 years.
Benefits of the Plan: Exide Life Prospering Life Plus is a non-par unit-linked insurance product (ULIP) designed to offer financial security through Guaranteed Life Cover, Maturity Benefit and additional Loyalty Benefit. What’s more, it offers unlimited fund switches between 6 investment funds to maintain balance in the portfolio while aiming for optimal capital growth.
Tax Benefits: The insured can avail tax benefits on annual premium paid towards this Plan as per Section 80C of the Income Tax Act, 1961. The payout received as death and maturity benefit is tax-free as per Section 10(10D) of the Income Tax Act, 1961.
Grace Period: Grace period is 15 days for monthly premium payment frequency and 30 days for all other frequencies.
Maturity Benefit: The Maturity Benefit is paid in either of these options, as opted by the insured - Lump sum: Fund value as on the date of maturity in the form of lump sum Settlement Payout: A part of the fund value as on the date of maturity as a lump sum amount and the balance in equal monthly or quarterly or half yearly or annual instalments over a period of 5 years.
Benefits of the Plan: Exide Life Assured Gain Plus is designed to offer Maturity Benefit, comprehensive life cover and enhanced protection against critical illnesses. Additionally, it also offers discount on high premiums and the benefit of loans up to a specific percentage of the pre-decided sum assured.
Tax Benefits: The insured can avail tax benefits on annual premium paid towards this plan as per Section 80C of the Income Tax Act, 1961. The payout received as death and maturity benefit is tax-free as per Section 10(10D) of the Income Tax Act, 1961. Insured individuals who have opted for the critical illness rider will be eligible for availing tax benefits on annual premiums paid under Section 80D of Income Tax Act, 1961. Policyholders who have opted for the critical illness rider can avail tax benefits on the rider premium payments under Section 80D of the Income Tax Act, 1961.
Grace Period: Grace period is 30 days for annual and semi-annual premium payment frequencies and 15 days for monthly premium payment frequency.
Bonus: Exide Life Assured Gain Plus may offer a Simple Reversionary Bonus, if applicable.
Maturity Benefit: The Maturity Benefit, payable on the completion of the policy term, is a mix of sum assured, along with Guaranteed Terminal Additions and Simple Reversionary Bonus, if any. The Maturity Benefit offered is a minimum of 101% of the contractual base premium payable under the policy.
Benefits of the Plan: Exide Life New Fulfilling life Plan is designed to offer life cover till the age of 85 years, periodic Survival Benefits and double Sum Assured. It also offers Money Back on premiums as per the chosen premium payment term.
Tax Benefits: The insured can avail tax benefits on annual premium paid towards this plan as per Section 80C of the Income Tax Act, 1961. The payout received as survival, death and maturity benefit is tax-free as per Section 10(10D) of the Income Tax Act, 1961. Insured who have opted for the critical illness rider will be eligible for availing tax benefits on annual premiums paid under Section 80D of Income Tax Act, 1961. Policyholders who have opted for the critical illness rider can avail tax benefits on the rider premium payments under Section 80D of the Income Tax Act, 1961.
Grace Period: Grace period is 30 days for annual premium payment frequency and 15 days for monthly premium payment frequency.
Bonuses: Below are the types of bonuses that may be applicable: Simple Reversionary Bonus: Exide Life Insurance may declare bonus as a percentage of Sum Assured which will be attached to your policy and will be paid at death or maturity of the policy, whichever is earlier.
Terminal Bonus: Exide Life Insurance may also declare a terminal bonus from 25th policy year and is payable at maturity of policy or death of the life assured.
Maturity Benefit: Payable on the completion of the policy term, the Maturity Benefit on this plan is a combination of the pre-determined sum assured and bonuses, if any.
Benefits of the Plan – Exide Life Wealth Maxima is a Non-Participating Unit Linked Life Insurance Plan which offers the flexibility to choose from 3 variants as per the life stage of the applicant. Being an insurance cum investment plan, it offers the convenience of investing in funds, as per the preference of the applicant. Besides, there are also Loyalty Benefits that policyholders receive on high premium payments.
Tax Benefits - The insured can avail tax benefits on annual premium paid towards Exide Life Wealth Maxima as per Section 80C of the Income Tax Act, 1961. The payout received as maturity and death benefit is tax-free as per Section 10(10D) of the Income Tax Act, 1961.
Grace Period - Grace period is 30 days for annual and half yearly premium payment frequencies and 15 days for monthly premium payment frequency.
Maturity Benefit - The Fund Value on the maturity date is the maturity benefit. The Fund Value is calculated as: NAV on the date of maturity X no. of units at maturity
The Maturity Benefit is paid in either of these options, a s opted by the insured:
Lump sum: Fund value as on the date of maturity in the form of lump sum Settlement Payout: A part of the fund value as on the date of maturity as a lump sum amount and the balance in equal monthly or quarterly or half yearly or annual instalments over a period of 5 years.
Benefits of the Plan – This is a non-linked participating life insurance plan which offers Life Cover with Family Income Benefit, Waiver of Premium and Maturity benefits with a Limited Pay Option
Tax Benefits: The insured can avail tax benefits on annual premium paid towards this Plan as per Section 80C of the Income Tax Act, 1961. The payout received as death and maturity benefit is tax-free as per Section 10(10D) of the Income Tax Act, 1961. Insured individuals who have opted for the critical illness rider will be eligible for availing tax benefits on rider premiums paid under Section 80D of Income Tax Act, 1961..
Grace Period: Grace period is 30 days for annual premium payment frequency and 15 days for monthly premium payment frequency.
Bonuses – There are two types of bonuses that the policyholder may become eligible for:
Simple Reversionary Bonus: Exide Life Insurance may declare bonus as a percentage of Sum Assured which will be attached to your policy and will be paid at death or maturity of the policy whichever is earlier. Terminal Bonus: Exide Life Insurance may also declare a terminal bonus and is payable at maturity of policy or death of the life assured.
Maturity Benefit – On the completion of the maturity term, Exide Life New Creating Life Plus Plan is a combination of Guaranteed Sum Assured, along with 10% of Guaranteed Sum Assured, Vested bonus, if any, and Terminal Bonus, if any. The maturity benefit will be at least 101% of the contractual base premium of the policy, provided all the premiums have been paid.
Benefits of the Plan: Exide Life New Creating Life Insurance RP offers Maturity Benefit and a comprehensive life insurance cover with Family Income Benefit. It also offers benefits like Waiver of Premium, ensuring financial security to the life insured in case of death of the policyholder.
Tax Benefits: The insured can avail tax benefits on annual premium paid towards this Plan as per Section 80C of the Income Tax Act, 1961. The payout received as death and maturity benefit is tax-free as per Section 10(10D) of the Income Tax Act, 1961. Insured who have opted for the critical illness rider will be eligible for availing tax benefits on rider premiums paid under Section 80D of Income Tax Act, 1961.
Grace Period: Grace period is 30 days for annual premium payment frequency and 15 days for monthly premium payment frequency.
Bonuses: There are two types of bonuses that the policyholder may be eligible for as a part of the Maturity Benefit:
Simple Reversionary Bonus: This may be declared on yearly basis and the bonus amount is attached to the policy. All accumulated bonuses will be paid on maturity of the policy.
Terminal Bonus: Exide Life may also declare a terminal bonus and is payable at maturity of policy.
Maturity Benefit - At the maturity of the policy, Exide Life will pay the sum assured with vested bonus, if any and terminal bonus, if any.
Benefits of the Plan – The plan is designed to offer 3 Guaranteed Benefits that help applicants reach their financial objective. Not just that, it also offers Death Benefit, Guaranteed Staggered Payout Benefit, Maturity Benefit and enhanced protection through riders.
Tax Benefits: The insured can avail tax benefits on annual premium paid towards this Plan as per Section 80C of the Income Tax Act, 1961. The payout received as death and maturity benefit is tax-free as per Section 10(10D) of the Income Tax Act, 1961. Insured individuals who have opted for the critical illness rider will be eligible for availing tax benefits on rider premiums paid under Section 80D of Income Tax Act, 1961.
Grace Period: 30 days on annual premiums and 15 days for monthly premiums is offered by this plan.
Maturity Benefit: The payouts, as a part of Maturity Benefit, vary between 65% and 105% of the sum assured, depending on the option chosen by the policyholder. The benefit under the single lump sum is offered on the completion of the maturity term policy along with the guaranteed addition of 5% of Sum Assured, provided all due premiums have been paid.
Benefits of the Plan – Guaranteed Death Benefit, Guaranteed Vesting benefit and Loyalty Benefit on higher premium payments are some of the highlights of Exide Life Golden Years Retirement Plan. The top-up premium feature enables the convenience of opting for a higher premium. What’s more, it offers the flexibility of choosing among the premium payment term options.
Tax Benefits - The insured can avail tax benefits on annual premium paid towards this Plan as per Section 80C of the Income Tax Act, 1961. The payout received as death benefit is tax-free as per Section 10(10D) and maturity benefit under section 10(10A) of the Income Tax Act, 1961.
Grace Period - Grace period for monthly frequency is 15 days and 30 days for annual mode.
Guaranteed Vesting Period – It is the higher of the following on being vested.
Benefits of the Plan – Death Benefit and Annuity Benefits are available under this plan. Annuity rates vary as per the available purchase price bands.
Below is the process for checking Exide Life Insurance policy status if you are an existing customer with e-portal access:
Below is the process for checking Exide Life Insurance policy status if you are a new customer:
The claim settlement ratio of Exide Life Insurance is 96.81%, as per 2017 – 18 IRDAI statistics.
Exide life Insurance offers 3 types of riders:
Exide Life Term Rider: Exide Life Term Rider can be opted along with certain selective traditional life insurance plans on the payment of an additional yet minimal premium.
Exide Life Accidental Death, Disability and Dismemberment Benefit Rider: It offers financial security in case of accidental death, disability or dismemberment.
Exide Life Critical Illness Rider: This rider offers financial protection on being diagnosed with any of the 25 major critical illnesses, as mentioned in the policy document. The policyholder who has purchased this rider will be eligible for immediate lump sum payment that is equal to the rider sum assured towards medical expenses incurred for the treatment of these critical illnesses.
A policyholder will not be capable to file a claim in the following circumstances:
In the event of a claim, it has to be registered as soon as the loss occurs. For claim intimation a customer can walk into the nearest Exide Life Insurance branch for processing the claim or he can register it online by downloading the claim form. Another easy way is that he can write a mail to claims@exidelife.in.
Once the customer has filled the claim form completely and attach all required documents, he/she can submit the documents to their nearest branch office or mail them to Customer Services, 1st Floor, Exide Life Insurance Company Limited, JP Techno Park No 3/1, Millers Road, Bangalore – 560 001.
After the registration, an acknowledgement letter will be given to the customer. From there on, the customer can use his/her policy number for any queries and interaction with Exide Life until the claim is settled.
Exide Life Insurance has been selected as one of the Top 10 Most trusted company by Economic Times – Brand Equity at 2014-2015. Exide Life Insurance has a claim settlement ratio of 96.81% for the financial year 2017-2018.
Grievance Resolved ratio for 2015-2016 is 99.59. 5 out of 4 happy customers are appreciating the flexibility they enjoy through tracking their fund value through Exide Life Insurance Website. Almost all the customers are highlighting the flexibility provided by Exide Life in terms of coverage and also on the various premium payment frequency options.
The only life insurance company in India with a strong business coverage across India packaged with 35000 + Insurance advisors, Regional Cooperative Banks, Corporate Agents, Brokers and Referral Partners
