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Exide Life Insurance Company Limited began operations as a life insurance provider in 2001-02. It serves more than fifteen lakh clients with insurance products. Exide Life Insurance distributes its products via multiple channels. Besides offering comprehensive term plans, the company also provides a hassle-free claim process for its customers.
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In this article, we will explore different elements of an insurance claim process.
To file a claim, make sure to use one of the following methods:
Contact the insurer's toll-Free number or their telephone number mentioned on the website.
Contact via email.
Send a message to the Claims Department, Exide Life Insurance Company Limited at their address.
Register Claim Online at customer service website of Exide life.
Find your nearest branch wherever you are in India, close to or in the city where you reside.
Send your request for service forms or letters and sign with clearly stating the request details and KYC copies by sending a mail to them.
Check the official website for more information on COVID-19 assistance. After registration, you will receive an acknowledgement. You can utilize the number on your policy for any queries regarding the claim until the claim has been decided.
Keep the following documents handy while filing a claim for natural death of the policyholder:
Age Proof and Identification Document (with photo) from Life Assured
Additional Documents to Support Unnatural and Accidental Mortality
Local Authority gives initial Death Certificates
Checklist of documents required to settle claims filled out in the Claim Intimation Form
Document of identification (with photo) of the Claimant
Evidence of Bank account of Claimant (Self-attested Copy of the Bank Passbook or the statement of account of Claimant)
Copy of the Medical Birth Certificate Medical Record (Discharge Summary of Death or Discharge, admission notes, test results Notes of consultations with outpatients, etc.)
Besides keeping the above-mentioned documents handy, you must also keep additional documents for claiming the policy for unnatural or accidental death of the policyholder:
Post Mortem Report duly attested by the relevant officials
Judicial Police Station attested copy of the FIR
| Turn Around Time as per IRDAI | Death Claims | Health Claims |
| Raising Claim Requirements | Within 15 days of claim receiving date | Within 15 days from the receiving date of claim |
| Settlement, Rejection, or Repudiation of claims for which Investigation is not necessary | Within 30 days of the date of the receipt of the last needed document | Within 30 days of the date of the receipt of the last needed document |
| Settlement, Rejection as well as Repudiation in which an investigation is necessary | The investigation should be concluded no more than 90 days after the date of receipt of the claim notification and the claim must be settled within 30 days following the date of receipt. | The investigation should be concluded no more than 30 days after the date of receipt of the final needed document. The claim is required to be paid within 45 days of the date of receipt of the final essential document. |
Here are a few of the essential exclusions in Exide Life Insurance for which no claims will be considered. To see the complete list of exclusions, please read the documents included in your policy kit:
Death due to nuclear Contamination the explosive, radioactive, or dangerous character of the nuclear fuel or property that is contaminated with nuclear fuel or any the result of an accident
Pre-existing health ailments
External Congenital Anomaly is located in the accessible and visible areas of the body.
Sexually Transmitted Disease (STD), Acquired Immune Deficiency Syndrome (AIDS), or Human Immunodeficiency Virus (HIV)
Inability to seek or follow medical advice with care or seek treatment in reasonable circumstances with any licensed and certified Medical Professional
Participating in any professional sport(s) or any risky activities
Death due to participation in any military, naval, or air force mission during peacetime
Death due to overdose of alcohol or and other drugs, including prescribed drugs for treatment purposes
Self-inflicted injuries/death
Death due to political conflict, invading, or act of an enemy foreign hostilities (whether the war is declared or not), either armed or non-armed peace, civil war rebellion, mutiny, and insurrection
Participation of the insured in any flight activity not as an authentic paying passenger, pilot, and cabin crew member of an airline that is recognized with regular routes and according to an established timetable.
Mental illness-related disabilities Post-traumatic stress disorder, chronic fatigue, chronic pain, and fibromyalgia are not considered
Having a term insurance plan can be a crucial tool to safeguard your financial future for your family. Thus it is important to be cognizant of the claim process. Exide term insurance allows the user access to an online, hassle-free settlement of claims.
With a high settlement percentage, the term insurance policies offered by Exide Life Insurance Company Limited provide complete coverage. So select a reliable insurance provider like Exide Life Insurance Company Limited for the fastest and most convenient process.
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+All savings provided by insurers as per IRDAI approved insurance plan. Standard T&C apply.
