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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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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




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)




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






  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. 


Age at Entry

Sum Assured on Death

Policy Term

Premium Payment term

Premium payment mode

Annualized Premium (Rs)

Guaranteed Sum Assured on Maturity (Rs)




12 years

12 years







12 years

12 years







12 years

12 years




On choosing Extra Protection component in Comprehensive variant:

Basic Sum Assured (Rs)

Extra Protection Sum Assured (Rs)



Annualized Premium for Basic Sum Assured

Annualized Premium for Extra Protection (Rs)



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.


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.


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