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Exide Life Child Plans
Exide Life Insurance brings you a new class of child insurance plans under the bouquet “Exide Life New Creating Life Insurance Plans”. These plans are designed to offer financial security for your children’s goals, even if you are not there.
Exide Life Child Plans
Exide Life Insurance Company sells child plans in three varieties. While two of the plans are traditional plans which offer guaranteed benefits, one plan is a unit linked plan which has an option of utilizing the plan as a child plan. Let us take a look at the plans sold by the company
Exide Life New Creating Plans
Reasons to buy Exide Life New Creating Life Plans :
- Waiver of Premium
- Tax Free Returns
- Death Benefit with Family Income Payout
- Limited Pay Option/Regular Pay Option
Eligibility Details
| Feature | Exide Life New Creating Life Insurance Plus | Exide Life New Creating Life Insurance Regular Pay |
| Minimum / Maximum Age at Entry (Parent) | 18 Years – 45 Years | 18 Years – 45 Years |
| Maximum Age at Maturity (Parent) | 60 years | 60 years |
| Minimum / Maximum Age at Entry (Child) | 0 Years - 17 Years | 0 Years - 17 Years |
| Premium Paying Term (PPT) | 5, 8 or 10 Years | 15 - 25 Years |
| Policy Term (Years) |
For PPT 5 Years: 10 – 20 Years For PPT 8 Years: 12 – 20 Years For PPT 10 Years: 15 – 20 Years |
Equal to PPT |
| Minimum Annual Premium (₹) |
For PPT 5 Years: ₹50,000 p.a. For PPT 8 Years: ₹30,000 p.a. For PPT 10 Years: ₹25,000 p.a. |
₹15,000 p.a. |
| Waiver of Premium |
Yes |
Yes |
| Modes of Premium payment | Annual, Monthly | Annual, Monthly |
| Guaranteed addition of 10% of Sum Assured on maturity | Yes | No |
Applying for a Child Plan from the company:
Online
The company offers specific plans which are available online only. The customer only needs to log into the company’s website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through credit card, debit card or net banking facilities and the policy will be issued
Intermediaries
Plans which are not available online can be purchased from agents, brokers, banks, etc. where the intermediaries help with the application process.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Applying For Child Plans through PolicyBazaar
- On the PolicyBazaar homepage, click on Child Plans under the Personal tab.
- Click New Quotes to compare
- Fill your date of birth (DOB), whether you are a smoker/non-smoker, and the payout amount. On the basis of your payout amount, you will get an estimate of your premium. Next click Continue.
- Fill in your name, email address, city, country code, and mobile number. Click Continue.
- You will be taken to the Life Insurance quotes page where you will see life insurance quotes of more than 10 insurers. Next, choose the plan as per payment schedule – One Time Payout and Monthly Payout Plans.
- After reviewing and comparing each life insurance quote, click the premium amount to buy the desired plan.
- You will see a pop-up on the screen which will give you an overview of the chosen plan like premium, plan features, exclusions, additional riders, etc. Click Proceed.
- This will take you to the insurer’s website. Fill in the necessary details to buy the plan.
Exide Life Child Plans - FAQs
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Q.1. How to pay a premium? What are the modes of payment available?
Ans: Exide Life Insurance Company offers 8 modes of premium payment namely:- Payment at the Axis Bank
- Payment at ING Bank
- Online Payment
- NEFT
- ECS
- Auto Debit
- Other options
In the other options you can make the payment at South Indian Bank branches, in Karnataka you can make the payment at Karnataka one counters through cash, DD, Cheque, Debit or Credit card. In Bangalore you can also make payment at Bangalore one counters by cash, DD, Cheque, or credit cards. You can also pay at HDONE counters with cash, cheque, or DD if you are in Hubli or Dhrwad.
For the online payment mode, the policyholder can pay via;
- Credit Card,
- Debit Card
- Net banking
- Bangalore one
- Tech process solution
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Q.2. How can I check policy status for Exide Life child pans?
Ans: You can check your policy sttaus if you are registered online. Simply login with your policy number and data of birth on MY LIFE tab to check the policy status. You may also check other policy details from the same link. -
Q.3. What is the policy renewal process for Exide Life child pans?
Ans: You can renew policy online.Step 1: Simply enter your policy details and date of birth to log into your account
Step 2: Make payment via Debit/Credit card or Net Banking
Step3: Print the cyber recipt of the premium payment made
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Q.4. What is the company’s process to settle claim for Exide Life child pans?
Ans: Please register your claim on Register Your Claim section. Just provide all the necessary information asked in various fields. You also need to use the claim intimation form which can be availed from the branch, or can download from the website or can be sent to you on your mail if you ask the same to the company on their mail id. 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 business days. -
Q.5. What is the policy cancellation process for Exide Life child pans?
Ans: To cancel the policy, you can visit the branch personally with your policy documents and duly filled surrender form. Upon successful validation of the documents, the refund will be directly credited in your bank within 7 bsuiness days.
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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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