Exide Life Term Insurance 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). 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.

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Get ₹1 Cr. Life Cover at just ₹449/month*
No medical
checkup required
Covers
COVID-19
Why Exide Life Insurance?
98.54% Claim Settlement Ratio
Rs. 376 Crs Policy Holder Bonuses Paid In FY20-21
Rs. 18,381 Crore Asset under management
222% Solvency Ratio
Covers Covid - 19 death claims
100+ years of legacy (Exide Industries)

*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

Get ₹1 Cr. Life Cover at just ₹449/month*
No medical checkup required
Covers COVID-19
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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 choose 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.

Exide Life Smart Term Edge –

  • 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
  • Life Cover: Classic: 5 Lakhs to 10 Cr, Comprehensive: 20L base sum assured to 10 Cr
  • Tax Benefit: U/S 80C of the Income Tax Act 1961 on your premiums paid & U/S 10(10D) of Income Tax Act 1961 on the survival and maturity proceeds of your policy

Eligibility Details                                                                    

  Classic Comprehensive
Min Age at Entry 18 years 18 years
Max Age at Entry 60 years 60 years
Max Age at Maturity 75 years 75 years
Policy Term 12-30 12-30
Min Sum Assured 5 lakhs 20 lakhs[10 lakhs Base +10 Lakhs Extra protection] 
Premium Premium Term Same as Policy Term
Min Sum Assured As per the board approved Underwriting policy of the company As per eligibility

Exide Life Smart Term Pro –

  • 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

Eligibility Details                                                                    

 Product Features Premium Paying Term 
5 Pay 8 Pay 10 Pay 12 Pay
Entry Age(years) 18 to 60 18 to 60 18 to 60 18 to 60
Policy Term (years) 15 to 40  15 to 40 15 to 40 15 to 40
Minimum Sum Assured (INR) 50 lakhs 15 lakhs 15 lakhs 15 lakhs
Maximum Sum Assured (INR) As per the Board Approved Underwriting policy of the company
Maximum Maturity Age Age 80 years
Premium Paying Mode Mode Monthly and Annual

Types of Term Plans

Exide Life Saral Jeevan Bima  

  • 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

Eligibility Details                                                                    

Minimum / Maximum Age at Entry 18 years / 65 years age last birthday
Maximum Maturity Age Maximum Maturity Age 70 years age last birthday
Policy Term

Single pay and Regular pay: 5 years to 40 year

Limited pay – 5 years :10 years to 40 years

Limited pay – 10 years: 15 years to 40 years

Premium Paying Term (PPT)

Regular Premium: Same as policy term

Limited Premium Payment term for 5 years and 10 years

Minimum Sum Assured 5 lakhs
Maximum Sum Assured

25 Lakhs ( Subject to underwriting guidelines)

Regular and Limited Premium Payment Options:

Premium Mode

Regular and Limited Premium Payment Options:

Yearly; Half Yearly

Monthly (only under ECS / NACH)

Single Premium: In Lump sum.

Applying for a Term 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 Term Insurance through PolicyBazaar

  • On the PolicyBazaar homepage, click on Term Insurance 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. You will have to fill in the necessary details to buy the plan.
Why buy from Policybazaar?
Lowest Price Guaranteed
Get an online discount of up to 10% when you buy online. You will not get a better price anywhere else.
Certified Expert
Policybazaar is regulated by IRDAI and will always act in the policyholder’s interest.
100% calls on Recorded Lines
Every call happens on recorded lines to ensure unbiased advice & No misselling. We believe in transparency & honest selling.
One Click Easy Refund
In case you aren’t happy with your purchase, you can cancel your policy from MyAccount hassle-free at the click of a button.

Exide Life Term Insurance Plans - FAQs

  • Q: How to pay a premium? What are the modes of payment available?

    Ans: 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
  • Q: How can I check policy status for Exide Life Term insurance plans?

    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: What is the policy renewal process for Exide Life Term insurance plans?

    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

  • Q: What is the company’s process to settle claim for Exide Life Term insurance plans?

    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: What is the policy cancellation process for Exide Life Term insurance plans?

    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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Exide Life Term Insurance Plans Reviews & Ratings

4.4 / 5 (Based on 31 Reviews)
(Showing Newest 10 reviews)
Abishek
Najibabad, April 07, 2021
Choose the best
I choose the best term insurance plan from the policybazaar. I got the great assistance from policybazaar and they suggested me to choose the exide life insurance policy. Thanks team policybazaar.
Ashok
Perundurai Sanitorium, April 05, 2021
Discounts available
I got a huge discount when I bought the exide life insurance plan from the policybazaar. I really like it and found such plan which was useful for me. I found the plan relevant for me and my family. Also, the company has given me discount too which has made my payment process convenient. Thanks team policybazaar and exide life term insurance.
Varnika
Panchet, March 31, 2021
Choose the best
I choose the best term insurance plan from the policybazaar. I got the great assistance from policybazaar and they suggested me to choose the exide life insurance policy. Thanks team policybazaar.
Vipul
East Champaran, March 30, 2021
Discounts available
I got a huge discount when I bought the exide life insurance plan from the policybazaar. I really like it and found such plan which was useful for me. I found the plan relevant for me and my family. Also, the company has given me discount too which has made my payment process convenient. Thanks team policybazaar and exide life term insurance.
Atharv
Atabira, February 16, 2021
Buy online
I bought this exide life insurance plan online from the website of the policybazaar. I bought it online and it was so easy and subtle. Thanks team policybazaar.
Adarsh
Ambala, February 16, 2021
Cheap and affordable plans
With the exide life insurance I have got the amazing and affordable term insurance plans. It is really easy to get the term plan as I checked the details easily online. Great work team.
Azam
Azamgarh, February 16, 2021
Great offers
If anybody wants to buy a term insurance plans then you must visit to the website of the policybazaar as they provide with the great offers. I bought the term insurance plan of the exide life insurance. Thus, my life has become more simple and great. Thanks team.
Imran
Jalpaiguri, August 19, 2016
Good Policy
Exide term insurance policy i have purchased in low investment. The policy coverage is approx. 90% and claims are easy to clear. Updates are easy to see through website and renewals are simple to do through online portal service which is easy to access by anyone.
Piyush
Ahmedpur, July 19, 2016
Manageable Policy
I have term insurance policy, the policy has many benefits which comes in low investments. The plan has easy renewals and updates are simple to visit on websites, good facility provided by exide life insurance. Service is fantastic which is facilitate by the executives.
Ankush
Nagaur, July 08, 2016
term plan
My term insurance policy is fantastic with low premiums. Policy coverage is maximum and claims are good. Service is quick and because of this the claiming become simple and sanctioned easily. The updates and renewal of the policy is can be done by the online portal service which is simple to operate.
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