Exide Life Smart Term Edge

Exide Life Smart Term Edge is a Non-Participating, Non-Linked, individual life Term Insurance plan that offers 3 plan options to meet the desired protection cover. This term insurance plan offers financial security to the family in case of one's critical illness or unfortunate death.

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Get ₹1 Cr. Life Cover at just ₹411/month*
No medical
checkup required
Save more with
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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These plans are available at very affordable premiums for a long duration. Read further to know in detail about different aspects of the policy.

Salient Plan features of Exide Life Smart Term Edge

  • 3 Variants –Classic, Step-up, and Comprehensive.
  • Additional Riders benefits like accidental rider and critical illness rider on payment of additional premium.
  • Return of percentage of the premium paid on Maturity, as per the chosen variant.

Eligibility Criteria of Exide Life Smart Term Edge

The following are the eligibility criteria of the policy.

Product Features

Classic

Step-up

Comprehensive

Entry Age (Years)

18 to 60

18 to 58

18 to 60

Premium payment term/ Policy Term (Years)**

12 to 30

12 to 30

12 to 30

Minimum Sum Assured

5 Lakhs

10 Lakhs

10 lakhs

Maximum Sum Assured

As per the Company’s Board Underwriting Policy 

Maximum Maturity Age (Years)

75

70

75

Premium Paying Mode

Monthly*, Half-Yearly and Annual

*For Monthly mode: 3 Monthly Premiums are collected in advance on the commencement date of the policy.

**Premium Payment term and Policy term are the same in this plan.

Benefits Offered by Exide Life Smart term Edge

Exide Life Smart term Edge plan offers benefits for the policyholder in three variants. The Classic variant and Classic component in the Comprehensive variant offers the same benefits.

  1. Classic variant

    It provides protection with a return of premium.

    If death occurs during the policy term, the Absolute Amount Assured is paid in a lump sum. The amount is equal to Basic Sum Assured. The policy terminates after the amount is paid.

    If the policyholder survives till the end of the policy term, 100 % of total premiums are paid under Sum Assured on Maturity benefit.   

  2. Step-up variant

    Offer Protection with a higher return of premium.

    If death occurs during the policy term, the Absolute amount is paid in a lump sum. After the amount is paid, the policy terminates.

     In the case when the policyholder survives till the end of the policy term, the proportion of premiums paid is based on the policy term chosen by the policyholder. This is an illustration of the proportion of premiums paid at various Policy Terms:

    Policy Term

    12 to 14 years

    15 to 19 years

    20 to 24 years

    25 to 29 years

    30 years

    Proportions of total premiums paid

    110%

    120%

    130%

    140%

    150%

  3. Comprehensive variant

     It offers enhanced protection with a return of premium. This variant has two components- 1. The Classic component offers the same benefits as that of the Classic variant. 2. Extra Protection offers extra death benefit in the form of an additional Sum Assured when the policyholder decides to pay an additional 'Extra Protection Premium.'

    The amount to be paid on death is the Absolute Amount Assured, and it is equal to Basic Sum Assured plus Sum Assured for Extra Protection. At the time of Maturity, 100% of total premiums paid, excluding all Extra Protection premiums.

  4. Tax Benefits

    The policyholder will be eligible for the tax benefits as per the prevailing tax laws. The tax benefit can be availed in three circumstances:

    • On the premiums paid*
    • On the policy proceeds received after the policy maturity *
    • On the Rider premiums *, if any rider is included.

    *These tax benefits vary as per tax laws, so one should have a thorough understanding of tax benefits/ tax implications by consulting with a tax advisor prior to the purchase of the policy.

    “Tax benefit is subject to changes in tax laws. Standard T&C apply.”

Premium Illustration

This is a Premium illustration of all three variants of the plan for a 35-year old man with no medical history; He chooses Sum Assured 50, 00,000 and policy term for 12 years. The plan presents non-medical premium rates. 

Plan

Age at Entry

Sum Assured on Death

Policy Term

Premium Payment term

Premium payment mode

Annualized Premium (Rs)

Guaranteed Sum Assured on Maturity (Rs)

Classic

35

50,00,000

12 years

12 years

Annual

36,503

4,38,036

Step-up

35

50,00,000

12 years

12 years

Annual

51,051

6,73,873

Comprehensive

35

50,00,000

12 years

12 years

Annual

38,573

4,47,132

On choosing Extra Protection component in Comprehensive variant:

Basic Sum Assured (Rs)

Extra Protection Sum Assured (Rs)

40,00,000

10,00,000

Annualized Premium for Basic Sum Assured

Annualized Premium for Extra Protection (Rs)

37,261

1,312

Additional Riders Offered by Exide Life Smart Term Edge

  1. Exide Life Accidental Death, Disability and Dismemberment Benefit (ADDDB) Rider

    This Rider Accidental death, disability, and dismemberment benefit plan can be added to the base plan at the time of buying. In order to avail of this plan, one has to make the payment for the Rider premium along with the premium of the base policy. The total benefit amount under this rider shall not exceed 100% of the Sum Assured of the rider. In the event of the Life Assured’s death, before he receives the last benefit installment, his beneficiary will get the due balance amount as a lump sum. The total benefit amount paid during the Rider term will not exceed 100% of the Sum Assured under this rider.

  2. Exide Life Critical Illness Rider (4 illnesses and 25 illnesses)

    In case any of the covered critical illnesses are diagnosed or occur, the Rider Sum Assured shall be paid as a lump sum. These riders can be attached at the start or at any policy anniversary and can be removed at any policy anniversary by giving a written request.  The riders are independent of the base plan. Then their benefits will be payable on the event's occurrence as per prescribed Rider terms and conditions in the policy document. 

Documents Required for Buying Exide Life Smart Term Edge Plan

For buying the Plan, one is required to have officially valid documents for identity proof, and address proof and, these documents are required:

  • AADHAAR card, 
  • PAN / Form 60
  • Driving License
  • Voter ID Card
  • Passport issued by Govt. Of India
  • NREGA Job Card, duly signed by State Government officials
  • NPR or the National Population Register’s issued letter, containing applicant’s name and address details, or any other document as notified by the Central Government in consultation with the Regulator.

Process to Buy Exide Life Smart Term Edge Plan

Step1. Customers can visit the official website of the insurer. Click 'Buy now.

Step2. One needs to fill in one’s contact information- Name, Email, Mobile number. One can now check the box to agree with terms and conditions and then click on 'Continue.'

Step3. On this page, one has to give one’s personal details- Occupation, Education, and Annual Income click 'Continue.'

Step4. The next page is 'My Cover.' Fill in Date of Birth, Sum Assured, also give personal information about Gender and health habits, like, smoking or consuming tobacco. Then, click 'Continue.' 

Step5. The next page will give a premium illustration based on the details input. It shows the Policy Term, Payment Mode, and Maturity benefit. If one agrees to that, one can click 'Pay Now.

Step6. On the next page, one needs to fill in the PAN Card number and City. 

One can finally give consent for receiving information on Whatsapp.

Then proceed to buy.

Exclusions

These are the exclusions in the benefits of the Riders. 

The policyholder shall not be payable any Critical Illness Benefit if it is caused by pre-existing diseases, any injury sustained before the effective date of the rider, attempted suicide or intentional harm, consuming alcohol or drugs, participation in an illegal or criminal act, war, invasion, riots, civil commotion, participation in flying activities, or injuries or diseases arising from hazardous sports, pastimes, or hobbies.

Suicide: When the Life Assured dies by suicide for any reason, within 12 months from the policy start or the date of revival of the lapsed policy, the company will not be liable to pay the full benefits. The benefits will be paid if death occurs within one year from the policy start or from the date of revival of the lapsed policy, and 80% of premiums have been paid excluding GST.

FAQ's

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Average Rating
(Based on 31 Reviews)
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Exide Life Smart Term Edge 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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