Exide Life Elite Term Insurance

Exide Life Elite Term Insurance Plan is an individual life insurance plan, which helps the policyholders to access various benefits such as premium discounts, assured sums, and others during the policy term. If the policyholder dies, the family will receive death benefits as a payout option.

The insurance offers three payout options as the death benefit. These are lump-sum payout, lump sum with family income payout, and family income payout. The different payout options available with Exide Life Elite Term Insurance Policy, one can choose to receive the entire death benefit or receive a certain percentage of the lump sum amount and the rest as a regular income for five years or ten years.

The policy allows the beneficiaries to avail of various discounts and advantages based on the premiums paid or heath conditions maintained.



Policy Tenure

Single Pay (SP): 5 to 35 years

Regular Pay (RP): 10 to 35 years

Extended Term: RP+5 or RP+10 years

Premium Payment Terms

Single Pay

Regular Pay: Same as the policy term

Premium Payment  Mode

Monthly and Annual

Entry Age

21 -60 years

Maturity Age

70 years (for the single and regular plan)

80 years ( for the extended term)

Grace Period

15 days (Monthly premium payment mode)

30 days (Regular premium payment mode)

Sum Insured


Rs. 50,00,000 (Online mode)

Rs. 2,00,00,000 (Offline mode)


No limit, as per underwriting guidelines


The policy does not offer any loan facility

Benefits of Exide Life Elite Term Insurance

Exide Life Elite Term Insurance Plan offers the following benefits to its buyers:

  • Extensive Life Cover: The policy offers life insurance based on the affordable Exide Life Elite Term Insurance premium. It secures individuals and their families' lives by providing payout solutions and additional benefits such as Super Elite advantages.
  • Policy Extension Benefit: If opted for the term extension facility, the policy's maturity age will be 80 years. The policyholders do not need to pay any premium during the extended term.
  • Surrender Benefit: The benefit is applicable for single pay mode only. The policyholders can access this benefit after completing one policy year.
  • Death Benefit: The policy offers three options to choose death benefit, which is equal to the sum assured. These options are lump sum payout offering complete death benefit, lump sum with family income payout offering 50%* death benefit, and family income payout offering 1.07%* death benefit on a monthly basis over a period of 10 years. 

(*Standard T&C Apply)

Tax Benefit: The policy offers tax benefits* based on 80C and 80D of Income Tax Act 1961. The services are offered based on the premium paid.

(*Tax benefit is subject to changes in tax laws)

The Premiums for Exide Life Elite Term Insurance

Exide Life Elite Term Insurance premium can be paid through a single payment or regular payment policy terms. The policyholders can opt for monthly or yearly payment mode. The monthly premium is considered as the base amount to multiply by the factor 11.01 for calculating the annual premium.

Exide Life Elite Term Insurance Policy has exemptions for some cases, which allow paying a low premium. These exemptions are offered to female policyholders, people of good health, and policyholders who assure a sum of Rs. 5, 00, 00,000 and above. Exide Life Elite Term Insurance calculator helps to calculate the premium amount effectively.

Additional Riders for Exide Life Elite Term Insurance

  • Exide Life Critical Illness Rider
  • Exide Life Accidental Death Disability and Dismemberment Rider

Eligibility for Exide Life Elite Term Insurance

  • Entry Age: 21 - 60 years
  • Maturity Age: 70 years for the regular plan and 80 years for extended term

What are the Documents Required to Buy the Policy?

The applicants must provide the following documents for the KYC process of policy management.

  • Identity Proof: Voter Card, Aadhar Card, PAN Card, Driving License or Passport
  • Address Proof: Voter Card, Aadhar Card, Driving License, Passport or Ration Card
  • Income Proof: Salary Slip or Income Tax Returns

How to buy this plan online?

To buy Exide Life Elite Term Insurance online, the applicants must follow the steps mentioned below.

Step 1: They must visit the official website of Policybazaar and fill the lead form.

Step 2: Choose Exide Life Elite Term Insurance plan.

Step 3: You will be redirected to the quotes page, where you will find quotes based on the details provided relating to insurance and contact information.

Step 4: The interested individuals will require calling the toll-free number 1800 258 8787, or the company personnel will contact and discuss the terms and conditions of the policy.

Step 5: The applicant will require filling up the application form by providing necessary details and draw a check in favour of the company.

However, interested individuals must assess Exide Life Elite Term Insurance reviews before making a final decision.

Exclusions of Exide Life Elite Term Insurance

Exide Life Elite Term Insurance Policy excludes death benefits in case of death due to suicide. However, if the death occurs within 12 months from the date of commencement of risk or policy revival, the policyholders will receive at least 80%* of the total Exide Life Elite Term Insurance premium paid to date or the surrender value as applicable.

(*Standard T&C Apply)


Written By: PolicyBazaar - Updated: 19 January 2021
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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