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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.
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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 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.
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 |
Key reasons to buy this plan
Life Insurance Cover for financial protection
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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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| 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 |
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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 |
Reasons to buy Exide Life New Creating Life 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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Key reasons to buy this plan:
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
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.
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.
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.
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.
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.
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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+All savings provided by insurers as per IRDAI approved insurance plan. Standard T&C apply.
