Exide Life Insurance
Exide Life Insurance Company Limited, is an established and profitable life insurance company, which commenced operations in 2001-02. The Company is head quartered in Bengaluru. It manages assets of INR 18,381 Crores (as on 31 March, 2021). Exide Life Insurance distributes its products through multiple channels viz. Agency, Bancassurance, Corporate Agency & Broking, Direct Channel and Online. The Agency channel comprises of 40,000+ advisors attached to across 200 locations across the country (as on 31 March 2021). The Company offers individual as well as group life insurance solutions.
Exide Life Insurance
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*Tax benefit is subject to changes in tax laws.
**All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
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For more than six decades, Exide Industries has been one of India's most reliable brands, enjoying unrivalled reputation and recall. Constant emphasis on innovation, extensive geographic footprint, strong relationship with marquee clients and steady technology upgradations with global business partners has made Exide Industries, a reliable brand that India trusts. Recognized as the Economic Times Best Brand under the BFSI category in 2020, Exide Life Insurance Company Limited is 100% owned by Exide Industries Limited. One of the pioneers among private life insurers in India, the Company was founded in 2000, and started its operations from 2001.
Exide Life Insurance Company
Exide Plans are categorized into savings, protection, retirement and investment. Exide Life Insurance Company follows a customer centric approach and the product portfolio offers products that cater to every financial requirement, at all life stages.
Exide Life Term Plans
How do you ensure your family’s future stays secure? The answer is, by getting the right protection for yourself. Because once you are well protected, your family can live without worries. They will be able to live life just as they did when you were around. The right protection plan builds a solid foundation for your family.
With Exide Life Insurance protection solutions, you can ensure a solid foundation for your family’s financial future. You can buy term plan i.e. a protection plan and add riders over it that offer protection against critical illnesses and accidental disabilities. Thus protecting you and your loved ones comprehensively.
| Plans | Entry Age | Sum Assured (Min Max) | Tax Benefit |
| Exide Life Saral Jeevan Bima | 18 - 65 Years | 5 Lakh- 25 Lakh | As per prevailing tax laws, subject to change from time to time |
| Exide Life Smart Term Edge | 18 - 60 years | Classic: Min:5 Lakh, Max: As per the board approved Underwriting policy of the company As per eligibility; Comprehensive: Min: 20 Lakh, Max: As per the board approved Underwriting policy of the company As per eligibility | As per prevailing tax laws, subject to change from time to time |
| Smart Term Pro | 18 - 60 years | Min: 5 Pay: 50 Lakh, 8,10,12 Pay: 15 Lakh, Max: As per the Board Approved Underwriting policy of the company |
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Exide Life Saral Jeevan Bima
Key reasons to buy this plan
Life Insurance Cover for financial protection
- Option to stay covered for a maximum term of 40 years
- Option to choose premium payment method - Single Pay, Limited Pay and Regular Pay
- Option to choose from monthly, half-yearly and yearly modes of premium payment
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Exide Life Smart Term Edge:
Key reasons to buy this plan
- 2 plan options – Classic and Comprehensive
- 100% of total premiums paid will be returned as sum assured on maturity in Classic Variant. 100% of total premiums will be returned as sum assured on maturity in comprehensive variant excluding all extra protection premiums
- 100% sum assured will be paid in case of an unfortunate demise
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Exide Life Smart Term Pro:
Key reasons to buy this plan:
- Life cover for full policy term Return of total premiums on maturity
- Option to pay premiums for 5, 8, 10 or 12 years only
- Option for Family Income Payout for 5 or 10 years
- Enhanced Protection through Riders
Exide Life Savings and Investment Plans:
Exide Life has a diverse product portfolio such that every financial need is catered. Exide Life Insurance offers you, variety of Savings and Investment options that include the benefits of life insurance as well. You can choose a plan based on your life stage and financial needs. The investment plans provide you with a choice to form a portfolio suitable to your risk appetite. An early savings and investment decision can help you prepare financially for a long and happy life.
| Plans | Entry Age | Policy Term | Sum Assured (Min Max) | Tax Benefit |
| Exide Life Guaranteed Wealth Plus | Lumpsum: 3 years (15 year Policy Term) 6 years (12 year Policy Term), Income: 11 years Max: 60 Years | 6 Years | - | As per prevailing tax laws, subject to change from time to time |
| Exide Life Sampoorna Jeevan | 3-60 Years | Sampoorna Jeevan 75 : 75 minus age at entry Sampoorna Jeevan 100 : 100 minus age at entry | - | As per prevailing tax laws, subject to change from time to time |
| Exide Life Star Saver | For Policy Term 10 Years : 8 Years– 60 Years For Policy Term 12 Years : 6 Years– 60 Years For Policy Term 15 Years: 3 Years– 60 Years | 10, 12 and 15 Years | Minimum – ₹67,950 Maximum – No Limit (subject to Board approved Underwriting policy) | As per prevailing tax laws, subject to change from time to time |
| Exide Life New Fulfilling Life | 15 to 50 years (For PPT 12,16 or 20 years) 15 to 46 years (For PPT 24 years) | 85 years minus age at entry | - | As per prevailing tax laws, subject to change from time to time |
| Exide Life Saral Jeevan | 8 years for 10 PPT 10 years for 8 PPT 12 years for 6 PPT; Max: 50 Years | Lumpsum: 12,16,15,20; Income: 6,8,10 Years | - | As per prevailing tax laws, subject to change from time to time |
| Exide Life Saral Bachat | 8 years for 10 PPT 10 years for 8 PPT 12 years for 6 PPT; Max: 50 Years | Lumpsum: 12,16,15,20; Income: 6,8,10 Years | - | As per prevailing tax laws, subject to change from time to time |
| Exide Life My Assured Income Plan | 2- 60 Years | For 5 PPT-10 years, For 8 PPT16 years | - | As per prevailing tax laws, subject to change from time to time |
| Exide Life Income Advantage Plan | 3-55 Years | 16,24,30 Years | - | As per prevailing tax laws, subject to change from time to time |
| Exide Life Guaranteed Income Insurance Plan | 3-55 Years | 16,20,24,30 Years | Minimum: ₹90,978 Maximum: No Limit | As per prevailing tax laws, subject to change from time to time |
| Exide Life Secured Income Insurance Plan Plus | 0-55 Years | For PPT 5 Years : 10 – 20 Years For PPT 8 Years : 12 – 20 Years For PPT 10 Years : 15 – 20 Years | - | As per prevailing tax laws, subject to change from time to time |
| Exide Life Secured Income Insurance Plan RP | 0-55 Years | Equal to Premium Payment Term | - | As per prevailing tax laws, subject to change from time to time |
| Min: 3 Years (15 Year Policy Term) 6 Years (12 Year Policy Term) 8 Years (10 Year Policy Term; Max: 60 Years (Limited Premium Payment Term | Min: Limited Premium Payment Term (5 years) | As per prevailing tax laws, subject to change from time to time | ||
| Exide Life Wealth Builder – Single premium plan: | 8-65 Years | 5, 10 Years | For age up to 44 years Annualized Premium* x 10 Annualized Premium x 20; For age above 44 years Annualized premium x (7 only)*** Annualized premium x (10 only) | As per prevailing tax laws, subject to change from time to time |
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Exide Life Guaranteed Wealth Plus
Key reasons to buy this plan:
- Guaranteed Income for 30 years + total return of premiums at maturity
- Avail guaranteed benefit as Lump sum or as Regular Income + Lump sum both
- Pay for 6 years, enjoy life insurance cover for full policy term
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Exide Life Sampoorna Jeevan
Key reasons to buy this plan:
- Life Cover up to age 75 or 100 years
- Limited premium payment options
- Avail guaranteed regular income or lump sum pay-outs or both
- Choose from 5 bonus options
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Exide Life Star Saver
Key reasons to buy this plan:
- Guaranteed Maturity Benefit
- Pay only for 5 years and get life insurance cover over full Policy Term
- Additional death benefit in event of an accident Tax savings as per prevailing tax laws
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Exide Life New Fulfilling Life
Key reasons to buy this Plan
- Life Cover till age 85 years
- Periodic survival benefits
- Tax savings as per prevailing tax laws
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Exide Life Saral Jeevan
Key reasons to buy this plan
- Life insurance cover during full policy term
- Choice to take maturity benefit in lump sum or as regular income
- Guaranteed Returns
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Exide Life Saral Bachat
Key reasons to buy this plan:
- Life insurance cover during full policy term
- Choice to take maturity benefit in lump sum or as regular income
- Guaranteed Returns
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Exide Life My Assured Income Plan
Key reasons to buy this plan:
- Choice of 3 variants to receive Guaranteed Income payouts
- Guaranteed Terminal Benefit on completion of policy term
- Tax savings as per prevailing tax laws
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Exide Life Income Advantage Plan
Key reasons to buy this plan:
- Pay during first half, get income during second half of policy term
- Life Insurance Cover for full policy term
- Guaranteed Income
- Flexible options to avail Income Pay-outs
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Exide Life Guaranteed Income Insurance Plan
Key reasons to buy this plan:
- Pay for first half. Get tax free income during second half of policy
- Continued life cover during the income payout period
- Guaranteed tax free maturity benefit
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Exide Life Secured Income Insurance Plan Plus
Key reasons to buy this plan:
- Death Benefit with Family Income Payout option
- Build corpus for your future
- Limited Pay Option
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Exide Life Secured Income Insurance Plan RP
Key reasons to buy this plan:
- Death Benefit with Family Income Payout option
- Build corpus for your future
- Regular Pay Option
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Exide Life Assured Gain Plus
Key reasons to buy this plan:
- Life Insurance Cover for the full policy term while you pay for only 5 years
- Guaranteed Sum Assured on Maturity
- Potential upside of returns through bonuses (if declared)
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Exide Life Wealth Maxima
Key reasons to buy this plan
- 3 plan options to suit your life stage needs
- Comprehensive life cover
- 3 investment strategies to suit your risk appetite
- Systematic investment option to benefit from equity markets
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Exide Life Wealth Builder – Single premium plan:
Key reasons to buy this plan:
- Life Insurance Cover for full policy term
- Pay only One Premium. Choose Policy Maturity of 5 or 10 years.
- Benefit from New Exide Life Capped Nifty Index Fund Choose from 8 Fund Options*
- 50% Mortality Charges returned on maturity in case of 10 year policy term
Policy Term (Years) 5 10 Minimum Age at Entry (Years) 13 8 Maximum Age at Entry (Years) 65 Age at Maturity Min 18 years - Max 75 years Minimum Premium ₹ 50,000 (for Direct and Online channels) ₹ 1,00,000 (other channels) Maximum Premium No Limit (subject to Board approved underwriting guidelines) Premium Payment Term Single Premium Top-up Premium Minimum: ₹ 10,000 Maximum: Amount equal to single premium or ₹ 40,00,000, whichever is lower Sum Assured Maximum* Minimum* For Age at entry less than 44 years 10 times of Single Premium 1.25 times of Single Premium For Age at entry equal to 44 years 1.25 times of Single Premium 1.25 times of Single Premium For age at entry greater than or equal to 45 years 1.25 times of Single Premium 1.25 times of Single Premium Additional Sum Assured (for age at time of top-up premium less than 45 years) 1.25 times of Top-up Premium 1.25 times of Top-up Premium Additional Sum Assured (for age at time of top-up premium greater than or equal to 45 years) 1.25 times of Top-up Premium 1.25 times of Top-up Premium -
Exide Life Wealth Elite
Key reasons to buy this plan
- Choice of 8 fund options
- Investment Strategy
- Comprehensive Death benefit
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.
| 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. | Rs. 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 |
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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
Exide Life Pension Plans:
You spend most of your time working hard towards fulfilling your responsibilities. Retirement years are said to be the golden years of your life, which allows you to enjoy everything you always wanted. To ensure you are able to enjoy and cherish your retirement years, it is important that you plan well. Retirement Solutions from Exide Life Insurance allows you to build substantial corpus for your retirement thereby ensuring your retirement is worry free.
| Plans | Entry Age | Premium Paying Term | Premium Amount |
| Exide Life New Immediate Annuity Plan | Min: 0 years age last birthday (for Existing Customers) 45 years age last birthday (for Customers other than Existing Customers) 55 years age last birthday for customers (Customers other than Existing Customers) who were members of a United Kingdom (UK)/Ireland Registered Pension Scheme wanting to transfer their pension corpus from UK/Ireland into this scheme. |
Single (one-time payment) | Min: As per the minimum annuity amount of ₹1,000 per month; Max: No Limit |
| Max: 100 years age last birthday (Existing Customers) 80 years age last birthday (Customers other than Existing Customers) |
Single (one-time payment) | ||
| Exide Life New Smart Pension Plan | 25-75 Years | Single Premium or Other than Single Premium: 5 to 30 years |
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Exide Life New Immediate Annuity Plan
Key reasons to buy this plan:
- Lifelong Annuity pay outs guaranteed for life
- Flexible options to receive annuity
- Large volume discount on annuity rates depending upon the purchase price range
- No medical examinations required
- On demise option for full refund of the purchase price
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Exide Life New Smart Pension Plan
Key reasons to buy this plan:
- Life cover upto 105% of total premiums paid (Including top-up premiums)
- Build a retirement corpus
- Flexibility to alter vesting date and premium payment term
- Loyalty additions
Exide Life Insurance - FAQs
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Below enlisted are different modes of payment offered by Exide Life Insurance, viz.:
i. Cash payment at the office/ branch
ii. Online Payment
iii. Payment at SBI Bank
iv. Payment at the Axis Bank
v. Auto Debit
vi. NEFT
vii. ECS
viii. Other options
Furthermore, the online payment can be done via:
i. Net banking
ii. Debit Card
iii. Credit Card
iv. eCollect
v. Electronic Bill Payment & Presentment (EBPP) with banks
vi. Wire transfer
vii. Tech process solution
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The applicant can check your policy status by online registration. All you have to do is, login with your policy number, date of birth and your registered mobile number at the ‘Self Services‘ page of Exide Life Insurance website . You will receive an OTP on the registered mobile number and once entering the OTP, you can easily view the status of your policy.
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It can be done online in 3 easy steps:
i. By logging into your account and entering your policy details along with the date of birth
ii. Pay the fees via Net Banking or Credit /Debit Card
iii. Print the online receipt of the premium payment
Alternatively, you can also pay via cash or cheque.
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You need to visit ‘My Claims’ section under the ‘Customer Service’ option on the company’s website. There, you need to enter all the required information along with the ‘Claim Form’, which can be downloaded from the same page.
Once all the documents have been sent to the company, you will receive a receipt and a reference number to be quoted whenever needed to. The claim will be settled by the company in a timely manner following fair and transparent claims practices ensuring effective and professional claims management while protecting the interest of all stakeholders.
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You can visit the company branch and submit the duly filled surrender form along with the necessary documents. Once the submitted documents have been verified, you will receive a notification from the company and the refund will be initiated.
Exide Life Insurance - Latest News
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Exide Life Conducts Awareness Programmes on Financial Education
Exide Life Insurance- A insurers in India recently organised a specially designed customer awareness programme. The purpose of conducting this programme was to educate interested customers on financial preparation basics that will eventually help them meet their financial needs in future.Exide Life Insurance introduced this programme in the year 2015. Under this option, awareness programmes are conducted in 2 & 3-tier cities. It helps the inhabitants of those cities understand the significance of insurance as well as impart them with necessary financial information to make the right financial decision for their future.
Mohit Goel, Director of Exide Life Insurance marketing and direct channel was quoted saying that at Exide Life, insurance is deemed to be important for every individual to keep them safe financially.
Power of Compounding, Starting Early and Adequate Life Insurance are few basic concepts that every Indian should be clear on. By introducing such programmes, the company is encouraging such initiatives in 2 & 3-tier cities, he added.
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Exide Life Insurance conferred with FINNOVITI 2016
The recognized life insurance company, Exide Life Insurance, recently received FINNOVITI 2016, which is an award invented to inspire innovations in the sector of financial services. Exide Life Insurance Company invented a unique record-keeping book and named it as ‘My Money Book’. This book was selected among the top 20 innovations for the year 2014-2015 and was awarded at an award ceremony that was recently held in Mumbai.There were more than 150 entries submitted by over 80 organizations competing with each other.
‘My Money Book’, basically, is a record-keeping book especially designed according to the brand mission, of Exide Life Insurance, of helping people in preparing themselves financially for a happy and long life. While it is important to save and invest, keeping a record of financial engagement is equally essential. Therefore, 'My Money Book' is innovated to help people in creating a comprehensive and combined summary of all their financial info. It is a simple and easy tool to use, and helps you organize all your financial data.
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There is still headroom for some more rate cuts, says Shyamsunder Bhat, CIO Exide Life Insurance
January 11, 2016 : On being asked about government's reforms push till now, Shyamsunder Bhat, CIO Exide Life Insurance, talked about the common perception of the people whatever has been done is either not enough or not in time. While this is partially true, one should also not neglect that the insurance sector has come out of a phase of notably low growth. He also expressed that addressing all problems in such a large economy as India, with the history of a weak global economy, will take some time and efforts.He claimed that reforms in power sector are critical. While a few lenders will have to compromise with the repricing of loans at lower interest rates, it is a positive initiative in overall interest of the nation. On the banking front, capitalization of banks to resolve NPA issues will lower the pressure on the system. Over a longer term, the impact of FDI relaxation will be noticeable in various sectors.
"How the equity markets shape up in 2016 will depend to a large extent on how earnings pan out in the next few quarters" –– Shyamsunder Bhat, CIO Exide Life Insurance.
Ulips have now become more attractive. If the investor keeps the investment for a long period, they become cheaper than mutual funds and yield the benefit of insurance as well. High allocation charges that were impacting returns have also been lowered. The ULIPS have now become more acceptable. Now, ULIPS offer such benefits as automatic asset rebalancing, as per monthly investment option and life cycle of the investor.
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TExide Life Insurance introduces Star Saver Plan
January 22 ,2016 : Exide Life Insurance has launched a new savings cum insurance plan named Exide Life Star Saver. It is a limited payment plan with 5 years of premium payment term. The policy term can be chosen from 10, 12, or 15 years. In case of an accident, the plan offers a Double Life Cover. The maximum entry age for this plan is 60 years. Exide Life Star Saver requires you to pay the premiums for only 5 years, while you get to enjoy the life cover for the entire term of the policy. If you stay invested for the policy term you choose, then on maturity you become eligible to receive a guaranteed lump sum amount. This sum offered to you on maturity is absolutely free from tax. Along with the amount of life cover, an additional life cover of an equivalent amount is also given to you, for the unforeseen events due to accidents. Under this plan, you can enhance the protection by opting for riders for a very nominal amount of extra premium. Through Exide Life Critical Illness Rider you can choose to be covered for about 25 critical illnesses. Sanjay Tiwari, Executive Vice President for Products Management department at Exide Life Insurance said that one can plan his family’s dreams with confidence when he has a guarantee on returns. Talking further about their new plan he claimed that Exide Life Star Saver Plan is very easy to understand and not at all complex. The plan has been designed keeping this philosophy n mind and assures a tax free amount on maturity. The plan requires only Rs. 24000 of annual investment for 5 years and anyone up to 60 years of age can buy the plan. -
Exide Life Insurance goes anti-‘jugaad’
Exide Life Insurance, the company based out of Bengaluru, has launched a campaign all across social media which is based upon the idea that jugaads (short cuts) aren’t the best solution. The campaign has been named as #NoMoreShortCuts. Themed around ‘jugaad’ this campaign has introduced a character, Jugaadulal. The short video depicts how the protagonist uses jugaads (short cuts and tricks) for every work in his day-to-day life, encounters failures every time, and eventually realizes the importance of long-term planning and drawbacks of jugaads. "Through this execution, we want our customers to know that while shortcuts work sometimes, they aren't always the best solution. And, for a long and happy life, you need to have the foresight for long-term planning. This is truly specific for financial planning because there are no shortcuts to making money," said Mohit Goel, marketing director, Exide Life Insurance. With its head-quarters in Bengaluru, Exide Life Insurance is operational since 2001. Serving more than 10 lakh customers from all over India, the company has a multi-channel distribution system supported by banc assurance, agency, direct channels, and alliances. -
Exide launches its new Exide Life-Income Advantage Plan
The Exide Life Insurance Company Ltd introduced Exide Life-Income Advantage Plan, which serves the twin benefit of a saving and insurance plan that works to the advantage of providing regular guaranteed income with life coverage. You can pick from 2-income payout choices considering your life needs, serving you benefit on the additional benefit payouts under this plan. This is an affordable plan catering all the individual needs for a subsequent income.In this plan of Exide Life Insurance, the policyholder is required to compensate premiums only through the initial stage of the policy tenure. During the second half of the term, you will be paid regular guaranteed income annually. Additionally, you will be benefitted from extra income each year which is paid as bonuses. Under this, the policyholder can develop protection by choosing for riders by a normal additional premium payment. Also, you can opt from Exide Life coverage or Dismemberment Rider.</
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