Exide Life Insurance
Exide Life Insurance Company Limited, formerly known as ING Vysya Life Insurance Company Limited is 100% owned by Exide Industries Limited. The company is founded in 2000 and started its operations in 2001. Serving over 10 lakh customers across India, Exide Life Insurance is a life insurance companies in South India. With assets more than Rs. 8000 crores, the company is now growing its franchise in other parts of the country.
Exide Life Insurance
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- Exide Life Insurance
Exide Life Insurance has the ISO 9001:2008 quality certification for all customer service processes. Mr. Kshitij Jain is the Managing Director & CEO of Exide Life Insurance Company Ltd.
The company has a strong network of agency channels viz. Agency, Alliances, Banc assurance and Direct Channels, comprising more than 35,000 advisors who are attached to over 200 company offices and customer care centers across the country.
The company provides long-term protection and savings solutions and has a strong traditional product portfolio with a consistent bonus track record. According to the recent survey by Economic Times - Brand Equity and Nielsen, Exide Life Insurance is ranked amongst the Top 10 Most Trusted Life Insurance brands in India.
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
These plans are the simplest and most economical form of life insurance, which provide you a higher coverage with little cost. They also have the option to enhance coverage through riders.
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Plans |
Entry Age (Min-Max) |
Policy Term (Min-Max) |
Sum Assured (Min-Max) |
Tax Benefit |
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Exide Life Term Insurance Plan |
21 - 60 years |
5 - 35 years |
Rs 50 Lakhs (online mode) or Rs 2 Crore (offline mode)- No limit |
Tax Benefit Under Section 80C and 80D of Income Tax act |
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Exide Life Smart Term Plan |
18 - 65 years |
10 - 30 years |
5 - 5 lakhs |
Tax Benefit Under Section 80C, 80D and 10(10D) of Income Tax act |
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Exide Life Term Rider Plan |
18 - 60 years |
5 - 40 years |
Rs 50,000 - 50 lakhs |
Tax Benefit Under Section 80C and 10(10D) of Income Tax act |
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Exide Life Term Insurance Plan
Exide Life Term Insurance Plan helps you create a financial cocoon to safeguard your family against future uncertainties when you are not around. It not only comes with a huge sum assured at an affordable premium, but also offer rewards for maintaining a healthy life during the policy term.
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Exide Life Smart Term Plan
Exide Life Smart Term Plan is the new era smart plan that comes with comprehensive protection options and even returns the total premium paid by you on completing the policy term.
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Exide Life Term Rider
This is an add-on product that can be coupled with selected Exide Life Insurance Traditional plans to get enhanced life cover at the price of a small additional premium.
Exide Life Savings and Investment Plans:
These are investment plans that help you reap the benefits of the market scenario and help you customize your plan as per your risk appetite.
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Plans
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Entry Age (Min - Max) |
Policy Term (Min - Max) |
Sum Assured (Min - Max) |
Tax Benefit |
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Exide Life My Money Back Plan |
12 - 54 years |
16- 24 years |
Rs. 1,94,489 - No Limit |
Tax Benefit Under Section 80C, 80D and 10(10D) of Income Tax act |
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Exide Life Income Advantage Plan |
2 - 50 years |
16 - 30 years |
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Tax Benefit Under Section 80C, 80D and 10(10D) of Income Tax act |
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Exide Life Guaranteed Income Insurance Plan |
3 - 55 years |
15 - 30 years |
Rs 90,978 - No Limit |
Tax Benefit Under Section 80C, 80D and 10(10D) of Income Tax act |
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Exide Life Jeevan Uday |
0 - 55 years |
10 - 20 years |
Rs 37,734 - Rs 42,000 |
Tax Benefit Under Section 80D and 10(10D) of Income Tax act |
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Exide Life Wealth Maxima |
0 - 65 years |
10 - 20 years |
For age till 44: Annualized premium x 10 For age above 44: Annualized Premium x (7 or 10) |
Tax Benefit Under Section 80C and 10(10D) of Income Tax act |
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Exide Life Secured Income Insurance Plus |
0 - 50 years |
10 - 20 years |
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Tax Benefit Under Section 80C, 80D and 10(10D) of Income Tax act |
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Exide Life Secured Income Insurance Regular Pay |
0 - 55 years |
15 - 25 years |
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Tax Benefit Under Section 80C, 80D and 10(10D) of Income Tax act |
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Exide Life Star Saver |
3 - 60 years |
10 - 20 years |
Rs 65,037 - No Limit |
Tax Benefit Under Section 80C, 80D and 10(10D) of Income Tax act |
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Exide Life Nirmal Jeevan Insurance Plan |
3 - 55 years |
10 - 15 years |
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Tax Benefit Under Section 80C and 10(10D) of Income Tax act |
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Exide Life Wealth Elite |
0 - 65 years |
10 - 20 years |
Rs 1,40,0000 - Rs 2,00,0000 |
Tax Benefit Under Section 80C and 10(10D) of Income Tax act |
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Exide Life Wealth Maxima |
0 - 65 years |
10 - 20 years |
Rs 2,52,0000 - Rs 3,60,0000 |
Tax Benefit Under Section 80C and 10(10D) of Income Tax act |
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Exide Life Prospering Life Plus |
0 - 65 years |
10 - 20 years |
7 times of annual premium chosen - 10 times of annual premium chosen |
Tax Benefit Under Section 80C and 10(10D) of Income Tax act |
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Exide Life Assured Gain Plus |
3 - 60 years |
10 - 15 years |
7 times of annual premium chosen - 10 times of annual premium chosen |
Tax Benefit Under Section 80C and 10(10D) of Income Tax act |
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Exide Life New Fulfilling Life |
15-50 years |
Till the age of 85 years |
Rs 75,642 - Rs 148,331 |
Tax Benefit Under Section 80C and 10(10D) of Income Tax act |
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Exide Life My Money Back Plan
In this plan, the investor will receive guaranteed money-back payouts at fixed intervals during the policy tenure. The policyholder will have 2 options to choose from: i) Uniform Money Back and ii) Increasing Money Back.
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Exide Life Income Advantage Plan
It is a unique savings-cum-insurance plan offered by Exide Life Insurance, which offers an advantage to you by providing life insurance cover as well as a regular income.
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Exide Life Guaranteed Income Insurance Plan
In this plan, you have to pay premiums for only few years and you get guaranteed benefits. These benefits consist of a regular income at an attractive rate of 11% to 13% per annum, life cover throughout the policy term and lump sum amount on maturity.
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Exide Life Jeevan Uday
Exide Life Jeevan Uday is a savings plan that comes with attractive tax-free returns and needs payment commitment for few years only.
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Exide Life Wealth Maxima:
Exide Life Wealth Maxima is a ULIP investment plan that provides the investors with 3 plan options to suit their life stage needs and 3 investment strategies to suit their risk appetite. This particular plan works not only as an efficient wealth creation opportunity but also as a shield to ensure the financial protection of their families, as their responsibilities increase.
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Exide Life Secured Income Insurance Plus
Exide Life Secured Income Insurance Plus is a limited pay plan that offers life coverage, a lump sum amount and a regular income to your family for 60 months. On maturity, you will be given the sum assured coupled with 10% guaranteed addition plus the accrued bonuses, if there are any.
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Exide Life Secured Income Insurance Regular Pay
Exide Life Secured Income Insurance Regular Pay is the regular pay variant of the Exide Life Secured Income Insurance Regular insurance plan that offers life coverage, a lump sum amount and regular income to your family for next 60 months. Once the plan matures, you will get the sum assured coupled with the accrued bonuses, if any.
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Exide Life Star Saver
Exide Life Star Saver is a non-linked non-participating life insurance policy, which alongside comprehensive life cover, offers additional accidental coverage. Just like Exide Life Assured Gain Plus, in this plan too, the policyholder has to pay the premium for only 5 years and receive the benefit of life coverage for the entire policy tenure.
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Exide Life Nirmal Jeevan Insurance Plan
Exide Life Nirmal Jeevan Insurance Plan is a rural insurance plan that comes with guaranteed life cover, tax-free maturity benefit, and life cover extension for 2 or 3 years.
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Exide Life Wealth Elite
Exide Life Wealth Elite is a unit-linked insurance plan that comes with reduced administration & allocation charges to enhance your fund value. This plan also offers comprehensive life cover along with 7 different fund options to choose from in order to maximize your wealth creation opportunities.
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Exide Life Wealth Maxima
Exide Life Wealth Maxima is a ULIP that comes with 3 different plan options to suit your life stage needs. Other than that, you also get to choose from 3 different investment strategies to suit your risk appetite. You can also invest in this plan as you do in an SIP to benefit from equity markets.
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Exide Life Prospering Life Plus
Exide Life Prospering Life Plus is a non-participating unit-linked plan where any type of investment risk in the investment portfolio is borne by the policyholder. Under this plan, the policyholder gets 6 types of investment options to choose from and can also enjoy unlimited free switches to control his investment.
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Exide Life Assured Gain Plus
Exide Life Insurance Assured Gain Plus is a non-linked participating endowment assurance plan that helps the insured to plan systematic savings. With this plan, you will be able to enjoy the benefits of life cover for the entire policy tenure by paying only for 5 years.
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Exide Life New Fulfilling Life
Exide Life New Fulfilling Life is a non-linked participating endowment assurance policy where the company will invest on the policyholder’s behalf and he will receive a share in the profits of company’s participatory fund. The shares are made available to the insured through the bonuses declared by the company.
Exide Life Child Plans:
Exide Life child policies help you plan your child’s future in advance so that you don’t fall short of finances when you need them the most.
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Plans |
Entry Age (Min-Max) |
Policy Term (Min-Max) |
Sum Assured (Min-Max) |
Tax Benefit |
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Exide Life Wealth Maxima - Maxima Child |
18 - 50 years |
10 - 20 years |
For age till 44 years : Annualized premium x 10 For age above 44 years : Annualized Premium x (7 or 10) |
Tax Benefit Under Section 80C and 10 (10)D of Income Tax act |
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Exide Life New Creating Life Plus
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For Parent: 18 - 45 years For Child:0 - 17 years |
15 - 25 years |
Rs 1,05,263 - Rs 1,33,242 |
Tax Benefit Under Section 80C, 80D and 10(10D) of Income Tax act |
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Exide Life New Creating Life Insurance Regular Pay |
For Parent: 18 - 45 years For Child :0 - 17 years |
10 - 20 years |
Rs. 1,13,766 - Rs. 1,23,995 |
Tax Benefit Under Section 80C and 10(10D) of Income Tax act |
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Exide Life Mera Aashirvad
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For Parent: 18 - 45 years For Child :0 - 15 years |
15 - 25 years |
Rs 3,50,000 - No Limit |
Tax Benefit Under Section 80C and 10(10D) of Income Tax act |
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Exide Life Wealth Maxima - Maxima ChildExide Life Wealth Maxima - Maxima Child is a ULIP that will help you maximize your wealth while securing your kid’s future.
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Exide Life New Creating Life Plus
Through this plan, you ensure that once the plan matures, your child will get the sum insured along with 10 percent guaranteed addition, besides the accrued bonuses (if any). Also, in case of any eventuality, all future premiums will be waived off and your family will not only receive the lump sum coverage amount but also get the benefit of an income source for the next 60 months.
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Exide Life New Creating Life Insurance Regular Pay
In this plan, you regularly pay the premium over the policy term and in return your child will get the sum assured along with accrued bonuses, if there are any. Just like the Exide Life New Creating Life Plus plan, in case of any eventuality, your family will get the life cover along with a regular income for the next 60 months. Future premiums will also be waived off in such a case.
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Exide Life Mera Aashirvad
Exide Life Mera Aashirvad is a non-linked non-participating child plan, where the insured is supposed to get payouts in 3 different guaranteed forms.
Exide Life Pension Plans:
These are the pension insurance plans if you want to plan for your retirement and help you have a prosperous old age.
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Plans |
Entry Age (Min - Max) |
Premium Paying Term (Min - Max) |
Premium Amount (Min - Max) |
Tax Benefit |
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Exide Life Golden Years Retirement Plan |
18 - 65 years |
10 - 42 years |
Rs 2,000 - RS 48,000 |
Tax Benefit Under Section 10(10A)of the Income Tax act |
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Exide Life New Immediate Annuity with Return of Purchase Price |
0 - 75 years |
One time payment |
As per the minimum Annuity amount of Rs 1,000 per month - No limit |
Subject to taxes as per the prevailing tax laws on the date of payment |
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Exide Life Golden Years Retirement Plan
Exide Life Golden Years Retirement Plan has a unique feature of capital guarantee with attractive returns, and it offers the flexibility of premium payment terms and top-ups to choose from.
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Exide Life New Immediate Annuity with Return of Purchase Price
Exide Life New Immediate Annuity with Return of Purchase Price is a pension plan in which you have to pay only once, and you will start receiving pension at a pre-decided frequency (can be annually, half yearly, quarterly or monthly) for life. The plan also offers a guarantee of return of full purchase price in case of the demise of the policy holder.
Compare all Exide life insurance plans from other life insurance companies in India to explore the insurance plan' that suit your needs.
Exide Life Distribution Network:
Since its inception Exide Life Insurance Company has built its presence in over 200 cities and distributes its products through two channels, Tied Agency and Alternate Channel.
Exide Life Insurance - FAQs
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Q. What are the different modes of payment available to pay a premium?
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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Q. How to check the policy status with Exide Life Insurance?
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. -
Q. What is the process to renew the existing policy with Exide Life Insurance?
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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Q. What is the claim settlement procedure at Exide Life Insurance?
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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Q. What is the policy cancellation process at Exide Life Insurance?
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.</
