Exide Life Traditional Plans
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).
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Exide Life
- Exide Life Traditional Plans
The Company offers individual as well as group life insurance solutions. 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.
What are Traditional / Investment Plans?
Traditional plans, also called Conventional Insurance Plans are plans where money is invested as per the guidelines laid down in the Insurance Act. The whereabouts of the invested premium is not known to the policyholder. The policyholder is simply promised certain benefits payable on death, maturity or as money back. Traditional Investment Plans have some of the basic features which are mentioned below:
- These plans are issued for a longer term perspective and money cannot be withdrawn from the plans.
- In case of stopping the premium payment, the plan becomes paid-up if at least three full years’ premiums have been paid. A paid-up plan has a reduced Sum Assured and the policyholder has a choice to either run the plan at the reduced coverage or surrender the plan.
- The plans may be offered as participating or non-participating plans. Participating plans are entitled to participate in the company’s profits and earn bonuses which are not true for non-participating plans.
- The plans may be issued either as Endowment Plans or Money Back Plans
Exide Life Traditional / 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.
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
Eligibility Details
| Policy Term | 16 Years | 20 Years | 24 Years | 30 Years |
| Premium Payment Term | 8 Years | 10 Years | 12 Years | 15 Years |
| Income Payout Term | 8 Years | 10 Years | 12 Years | 15 Years |
| Minimum Age at Entry | 10 Years | 8 Years | 6 Years | 3 Years |
| Maximum Age at Entry | 55 Years | 55 Years | 55 Years | 55 Years |
| Minimum Annualized Premium | ₹24,000 | ₹18,000 | ₹12,000 | ₹12,000 |
| Maximum Annualized Premium | No Limit | |||
| Sum Assured | Minimum: ₹90,978 Maximum: No Limit | |||
| Premium Payment Frequency | Monthly, Annual | |||
Exide Life Secured Income Insurance Plan
Key reasons to buy this plan:
- Death Benefit with Family Income Payout option
- Build corpus for your future
- Limited Pay Option & Regular Pay Option
Eligibility Details
| Feature | Exide Life Secured Income Insurance Plus | Exide Life Secured Income Insurance RP |
| Minimum / Maximum Age at Entry | 0 Years – 50 Years | 0 Years – 55 Years |
| Minimum / Maximum Age at Maturity | 18 Years – 70 Years | 18 Years – 70 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 Premium Payment Term |
| Minimum 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. |
| Maximum Premium | No Limit (Subject to underwriting) | No Limit (Subject to underwriting) |
| Modes of Premium payment | Annual, Monthly | Annual, Monthly |
| Guaranteed addition of 10% of sum assured on maturity | Yes | No |
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
Eligibility Details
| Premium Paying Term (PPT) | 6 years | |
| Policy Term | Lump Sum Variant | Income Variant |
| 12 & 15 years | 37 years | |
| Maximum Age at Entry (As on last birthday) | 60 years | |
| Minimum Age at Maturity (As on last birthday) | 18 years | 48 years |
| Maximum Age at Maturity (As on last birthday) | 75 years | 97 years |
| Minimum Premium | 1,00,000 (Annual) 60,000 (Half-Yearly) 10,000(Monthly) | |
| Maximum Premium | No Limit subject to board approved underwriting policy | |
| Premium Payment Mode | Annual, Half yearly, Monthly# | |
| Income Payout Mode | Annual | |
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
Eligibility Details
| Minimum / Maximum Age at Entry |
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 (Age last birthday) |
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| Minimum / Maximum Maturity Age | 18 Years- 75 Years (Age last birthday) |
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| Policy Term | 10, 12 and 15 Years | |
| Premium Paying Term (PPT) | 5 Years | |
| Minimum / Maximum Premium (₹) |
Minimum - Annual Mode: ₹24,000 Half-Yearly Mode: ₹33,000 Monthly Mode: ₹5,500 Maximum – No Limit (subject to Board approved Underwriting Policy) |
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| Minimum / Maximum Basic Sum Assured (₹) |
Minimum – ₹67,950 Maximum – No Limit (subject to Board approved Underwriting policy) |
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| Premium Payment Modes | Annual, Half-Yearly, Monthly | |
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
Eligibility Details
| Feature | Exide Life New Fulfilling Life | |
| Minimum / Maximum Entry Age |
15 to 50 years (For PPT 12,16 or 20 years) 15 to 46 years (For PPT 24 years) |
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| Maximum Premium Ceasing Age | 70 years | |
| Policy Term | 85 years minus age at entry | |
| Premium Paying Term (PPT) | 12, 16, 20 and 24 | |
| Minimum Premium |
For PPT 12 years : ₹24,000/ For PPT 16,20,24 years : ₹12,000/-. |
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| Maturity Benefit | Sum Assured + Accumulated Bonuses | |
| Death Benefit |
Sum of the following: •-Guaranteed Death Benefit which is higher of Sum Assured or 10 times the Annualized Premium •-Vested bonus, if declared •-Terminal bonus, if declared Death benefit will never be less than 105% of the total premiums paid |
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| Modes of premium payment | Annual, Monthly | |
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)
Eligibility Details
| Minimum age at entry (Age as on last birthday) |
3 Years (15 Year Policy Term) 6 Years (12 Year Policy Term) 8 Years (10 Year Policy Term) |
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| Maximum age at entry (age as on last birthday) |
60 Years (Limited Premium Payment Term 5 Years) 65 Years (Single Premium) |
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| Minimum Maturity age | 18 years | |
| Maximum Maturity age |
75 Years (Limited Premium Payment Term 5 Years) 80 Years (Single Premium) |
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| Policy Term(s) | 10, 12 or 15 years (Policy term is inclusive of the premium payment term chosen) | |
| Premium Payment Term(s) | Limited (5 years) or Single Premium (5 years is one of the option along with single premium) | |
| Minimum Premium (Rs.) |
Limited Premium Payment Term (5 Years): Annual: ₹50,000 Semi Annual: ₹30,000 Monthly: ₹5,000 Single Premium: ₹2,50,000 |
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| Maximum Premium (Rs.) | No limit (subject to board approved underwriting policy) | |
| Minimum Sum Assured on Maturity |
Limited Premium Payment Term (5 years): ₹159,446 Single premium: ₹197,323 |
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| Premium Payment Mode | Annual / Semi Annual / Monthly**/Single | |
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
| Premium Payment Term (PPT) | 6/8/10 years | |
| Policy Term | Lump sum Variant | Income Variant |
| 6 PPT: 12 years | 6 PPT: 6 years | |
| 8 PPT: 12/16 years | 8 PPT: 8 years | |
| 10 PPT: 15/20 years | 10 PPT:10 years | |
| Minimum Age at Entry (as on last birthday) | 8 years for 10 PPT | |
| 10 years for 8 PPT | ||
| 12 years for 6 PPT | ||
| Max. Maturity Age | 65 years | |
| Maximum Age at Entry (as on last birthday) | 50 years | |
| Premium Payment Mode | Annual,Half Yearly, Monthly# | |
| Min. Premium | PPT | Min. Premium |
| 6 yrs | ₹20,000 (Annual) | |
| ₹12,000 (Half Yearly) | ||
| ₹2,000 (Monthly) | ||
| 8 yrs | ₹15,000 (Annual) | |
| ₹9,000 (Half Yearly) | ||
| ₹1,500 (Monthly) | ||
| 10 yrs | ₹10,000 (Annual) | |
| ₹6,000 (Half Yearly) | ||
| ₹1,000 (Monthly) | ||
| Max. Premium | ₹95,000 (subject to Board approved underwriting policy) | |
| Income Payout Mode | Annual, Monthly | |
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
| Premium Payment Term (PPT) | 6/8/10 years | |
| Policy Term | Lump sum Variant | Income Variant |
| 6 PPT: 12 years | 6 PPT: 6 years | |
| 8 PPT: 12/16 years | 8 PPT: 8 years | |
| 10 PPT: 15/20 years | 10 PPT:10 years | |
| Minimum Age at Entry (as on last birthday) | 8 years for 10 PPT | |
| 10 years for 8 PPT | ||
| 12 years for 6 PPT | ||
| Max. Maturity Age | 65 years | |
| Maximum Age at Entry (as on last birthday) | 50 years | |
| Premium Payment Mode | Annual, Half Yearly, Monthly | |
| Min. Premium | PPT | Min. Premium |
| 6 yrs | ₹20,000 (Annual) | |
| ₹12,000 (Half Yearly) | ||
| ₹2,000 (Monthly) | ||
| 8 yrs | ₹15,000 (Annual) | |
| ₹9,000 (Half Yearly) | ||
| ₹1,000 (Monthly) | ||
| 10 yrs | ₹10,000 (Annual) | |
| ₹6,000 (Half Yearly) | ||
| ₹1,000 (Monthly) | ||
| Max. Premium | ₹95,000 (subject to Board approved underwriting policy) | |
| Income Payout Mode | Annual, Monthly | |
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
| Premium Payment Term (PPT) | 5 years/8 years | ||
| Policy Term (Years) | For 5 PPT-10 years, For 8 PPT-16 years | ||
| Minimum Age at Entry (as on last birthday) | PPT | Uniform Income Benefit | Enhanced Income Benefit/ Increasing Income Benefit |
| 5 years | 13 years (14 years for Monthly Income Payout) | 8 years (9 years for Monthly Income Payout) | |
| 8 years | 10 years (11 years for Monthly Income Payout) | 2 years (3 years for Monthly Income Payout) | |
| Maximum Age at Entry (as on last birthday) | PPT | Age at Entry | |
| 5 years | 60 years | ||
| 8 years | 54 years | ||
| Minimum Premium (Rs.) | PPT | Uniform Income Benefit | Enhanced Income Benefit/ Increasing Income Benefit |
| 5 years | 95,000 (Annual) 50,000 (Half-Yearly) 9,000 (Monthly) | 50,000 (Annual) 30,000 (Half-Yearly) 5,000 (Monthly) | |
| 8 years | 50,000 (Annual) 30,000 (Half-Yearly) 7,000 (Monthly) | 25,000 (Annual) 15,000 (Half-Yearly) 4,000 (Monthly) | |
| Maximum Premium (Rs.) Premium Payment Mode Income Payout Frequency | No Limit (subject to Board approved underwriting policy) | ||
| Annual, Half Yearly, Monthly# | |||
| Annual, Monthly | |||
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
| Eligibility Parameters | Policy Term (Years) | ||
| 16 | 24 | 30 | |
| Premium Payment Term (Years) | 8 | 12 | 15 |
| Benefit Payout Term (Years) | 8 | 12 | 15 |
| Minimum Age at Entry (as on last b’day) | 10 years | 6 years | 3 years |
| Maximum Age at Entry (as on last b’day) | 55 years | 55 years | 50 years |
| Minimum Age at Maturity | 26 years | 30 years | 33 years |
| Maximum Age at Maturity | 71 years | 79 years | 80 years |
| Minimum Premium (₹) | Annual : ₹30,000 Monthly : ₹2,724 Half-Yearly : ₹15,470 | Annual : ₹18,000 Monthly : ₹1,635 Half-Yearly : ₹9,300 | Annual : ₹12,000 Monthly : ₹1,090 Half-Yearly : ₹6,19 |
| Maximum Premium (₹) | No Limit (subject to board approved underwriting policy) | ||
| Premium Payment Frequency | Annual, Half-Yearly, Monthly# | ||
| Income Payout Mode## | Option A: Annual only Option B: Annual, Monthly | ||
Applying for a Traditional / Investment 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.
Applying For Traditional Insurance through PolicyBazaar
- On the PolicyBazaar homepage, click on Traditional Insurance under the Personal tab.
- Click New Quotes to compare and choose from top insurance providers.
- 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 addhttps://www.policybazaar.com/life-insurance/ress, 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 Traditional Plans - FAQs
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Q1. How to pay a premium? What are the modes of payment available?
Exide Life Insurance Company offers 8 modes of premium payment namely:- Cash payment at the branch
- 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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Q2. How can I check policy status for Exide Life traditional plans?
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. -
Q3. What is the policy renewal process for Exide Life traditional plans?
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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Q4. What is the company’s process to settle claim for Exide Life traditional plans?
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. -
Q5. What is the policy cancellation process for Exide Life traditional plans?
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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