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 ₹411/month*
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upto 10% discount**
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 ₹411/month*
No medical checkup required
Save more with upto 10% discount**
Covers COVID-19
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What are Term Insurance Plans?

Term Insurance Plans, also called Term Plans in short, offer the basic protection coverage to individuals. Term life insurance plans are the essence of life insurance which provides financial support to the family of the individual in case of premature death of the individual. In technical terms, term plans can be defined as a contract between the insurance company and the person insured wherein the company promises to pay a lump sum amount, called the Sum Assured, if the insured dies during the term of the policy. The term of the policy is the time, in years, for which the plan has been bought by the insured. In exchange of the promise made by the insurer, the insured needs to pay premiums to the company against the chosen coverage for the term of the policy.

Why Term Insurance Plans?

Term Insurance, being the basic insurance plan, is the cheapest plan in the market where by paying a minimal amount of premium one can avail a high coverage for protection purposes. Life is uncertain and everybody faces the risk of untimely death. On the death of a family member, the family suffers both emotional and financial loss. While emotional loss cannot be compensated, the financial loss suffered can be compensated considerably through insurance. Term insurance, at the same time, offers high coverage at lower costs thus making it affordable to have a high coverage. A high coverage ensures that the family is properly taken care of in the absence of the bread-winner without any financial hiccups.

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 Elite Term Insurance Plan –

  • Key reasons to buy this plan:
  • Substantial Life Cover at affordable premiums
  • Option for Family Income Payout of 5 or 10 years
  • Life Cover: Rs. 50 Lakhs to 10 Cr
  • Tax Benefit: U/S 80C of the Income Tax Act 1961 on your premiums paid

Eligibility Details                                                                    

  Minimum Maximum
Entry Age 21 years 60 years
Maturity Age - 70 years
Policy Term 10 years 40 years
Sum Assured Rs.50 lakhs Rs.10 Cr
Annual Premium Amount Rs.2000 No limit
Premium Payment Term Regular Pay : Same as Policy Term
Premium Payment Frequency Yearly or monthly

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

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.
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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.
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 31 Reviews)
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Exide Life Term Insurance Plans Reviews & Ratings

4.4 / 5 (Based on 31 Reviews)
(Showing Newest 25 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.
Sumeet
Ambala, June 28, 2016
Fair Policy
The term insurance policy I have is normal plan which fine terms and conditions. Service is good and claims are easy to sanctioned. The documentations is hassle free. Policy coverage is high and online portal service is good and easy to operate.
Kunal
Delhi, April 13, 2016
Perfect
Great term insurance policy plan i got from exide life insurance. They has good in facilitate the fast services. Policy coverage is 87% and the claims are good with easy claiming process. The investment is good and it saves taxes also. The behaviour of executives and staff members are very nice.
Vishal
Zahirabad, April 13, 2016
Wonderful
Policy plan is wonderful with huge benefits like low premiums and the policy coverage is high 93%. Claims are are good and the payback amount is around Rs.38 L after the policy get mature. Internet services are great with easy interface and vast variety of policies are there with full descriptions. Good future investment.
Lalit
Nainital, April 13, 2016
Good Policy Plan
I purchased exide life insurance policy and the product is term insurance plan. The premiums are ~Rs.49 K per year. The claims are good and easily sanctioned. Service facilitate by executives and staff members are very nice and fast. The policy saves taxes and it is really very good investment for future. I like my plan.
Gautam
Sitarganj, April 13, 2016
Awesome
My term insurance policy plan is with life insurance. The policy coverage is high ~93% and the claims are approx. 38 L after policy get mature. Claims are easily sanctioned because of fast services provided by the executives. Fantastic policy plan which provides good terms and conditions.
Umakant
Chandigarh, April 13, 2016
Fantastic Plan
Exide life insurance is one of the perfect insurance providers, i took term insurance policy plan from them. The policy is good in service and it can be buy online also. The web service is awesome and 5% less for women on premiums. Policy coverage and the claims are high. Due to online facility, it reduces the paper work and the waiting part is erased. It saves taxes also.
Pramod
Haveli, April 13, 2016
Normal Policy
The term policy plan i have is not as i expected. The policy coverage is 62% and the claims are less. The premiums are 27 K twice a year. Services are fast and the behaviour of the executives and staff members are good. Some improvement needed in the web site. I like the policy.
Lakshay
Aligarh, April 13, 2016
Good Plan
I buy term insurance policy plan from exide life insurance. The policy coverage is 89% and the premiums are low ~31 K. The claims are easily sanctioned because the service is fast from the executives side and from online web page also. The policy premiums are 5% less for women. Good policy plan.
Bhavya
Solapur, April 13, 2016
slow service
The term plan policy which i bought from exide life insurance has slow service issue. Policy coverage and claims are high with low investments. The executives and staff members are behave good with the customers and providing nice outputs. The daily updates are mailed and texted to me regularly. Good policy plan.
Karan
Coonoor, April 13, 2016
Low policy coverage
Policy coverage is less around 73% and the premiums are low around 29 K twice a year. Service are good and always on time till now. The claims are cleared easily due to quick response from the executives and staff members. Please improve your policy coverage for better performance.
Chandan
Agra, April 13, 2016
Okay
Exide life insurance is one of the best insurer for term insurance policy plan. The policy coverage is 89% and the claims are good even the the claiming procedure is easy because the service provided by the company members are good and even the web services are even better. The premiums are low and for women get 5% less extra benefits on premiums. My future is secure.
Mankaran
Vikas_nagar, April 13, 2016
Fantastic Policy Plan
I have term insurance policy plan from last 4 month with exide life insurance. The policy is good and the premiums are very less. The best investment and the taxes are also saved. Policy coverage and claims are good and the services are super fast. I really like my policy plan thanks.
Hemant
Jammu, April 13, 2016
Great Policy
Great term insurance policy plan i got from exide life insurance. They has good speed and responsive for any query and for any help. Policy coverage is 95% and the claims are good with easy claiming process. The investment is good and it saves taxes also.
Chirag
Patiala, April 13, 2016
Good Coverage
The term insurance policy plan i have is exide life insurance. The policy coverage is high with high claiming amount. The premiums are low and the payback returns are approx. rs.43 L. The service provided by the executives and the staff members is good with nice behaviour.
Prashant
Mohali, April 13, 2016
Good Deal
Got term insurance policy plan with exide life insurance. The policy plan is above average and the premiums are low. Policy coverage and the claims are high with high payback returns. Services provided by you guys is appreciable with good behaviour of your staff members and the extra good treatment provided by the executives is very nice.
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