Exide Life Smart Term Pro

The insurance plan is vital in keeping one safe in difficult times of life. With Exide Life Smart Term Pro you can have peace of mind and start rebuilding your life in case of any adversity. Exide Life Smart Term Pro is the term assurance plan, which provides life insurance coverage for a policy term.

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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
222% Solvency Ratio
Covers Covid - 19 death claims
Rs. 18,381 Crore Asset under management
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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In case the life assured survives at maturity, the plan guarantees the returns of the complete premium paid during the policy tenure.

Eligibility Criteria of Exide Life Smart Term Pro

The table below shows the eligibility criteria of Exide Life Smart Term Pro:

Parameters 

Details

Entry Age (Years)

18 years - 60 years

Maximum Maturity Age

80 years

Policy Term

5-Pay/8-Pay/10-Pay/12-Pay: 15-40 years

Minimum Sum Assured 

5-Pay: Rs 50 lakh

8-Pay: Rs 15 lakh

10-Pay: Rs 15 lakh

12-Pay: Rs 15 lakh

Premium Paying Mode

Monthly (with 3 advance payments on policy commencement), Semi-annual and Annual

Benefits of Exide Life Smart Term Pro

The Exide Life Smart Term Pro has the following benefits:

  1. Death Benefit 

    On the policyholder's selection of death benefit payout option, the nominee gets the Death Sum Assured on the policyholder's untimely death within the policy term.

    Sum Assured on Death is higher of these – 7 X Annualized Premium, Basic Sum Assured, or it will be 105 % times all Premiums Paid. The policyholder shall be paid the premium amount in the selected year as an Annualized Premium. Any rider premiums, taxes, underwriting extra premiums, and loading for modal premiums will be deducted.

  2. Payout Options

    In case of the sudden death of the policyholder, the nominee can avail of Death Benefit Payouts which depends on the options the policyholder had selected initially.

    1. Payout Option A

      Lump-sum payout

      In this Payout option, the nominee shall be paid the entire Death Benefit as a lump sum. 

      Or

    2. Payout Option B

      Lump-sum with Family Income Payout

      50% of the Death Sum Assured is paid as an immediate single, fixed payment or a lump sum amount, and,

       0.95% of the Death Sum Assured is paid every month over consecutive 60 months from the date of death, at every month-end.

      Or

    3. Payout Option C

      Family Income Payout

      Here, the Insurer will pay the nominee 1.07% of the Death Sum Assured monthly over consecutive 120 months or 10 years from the date of death at the month-end.

  3. Maturity Benefit        

    If the policyholder survives till the date of maturity, the Guaranteed Sum Assured on Maturity shall be paid, and the policy will be terminated.

  4. Flexibility to Choose Premium Payment Term

    The policyholder has options to choose Premium Paying Term while covered for the entire policy term.  Options for Premium payment terms are 5 years (5 Pay), 8 years (8 Pay), 10 years (10 Pay), or 12 years (12 Pay).

  5. Tax Benefits

    The policyholder may avail of the tax benefit as per prevailing tax laws on the premiums paid, on the payment after the maturity of the policy, on the premiums paid towards riders.

    Note: Tax benefit is subject to changes in tax laws. Standard T&C apply.

Additional Rider Benefit Options of Exide Life Smart Term Pro

For the policyholders to have additional protection, Exide Life Smart Term Pro offers additional riders. A small amount of extra premium needs to be paid. More than one rider can be bought, and they can be removed from the policy at any policy anniversary by submitting a written request. These are the Riders available with this plan:

  1. Exide Life Accidental Death, Disability and Dismemberment Rider

    This Rider includes death, dismemberment, and permanent disability as per the table of benefits.

    Event

    The benefit payable as a percentage of Sum Assured

    Time of payment

    Death

    100%

    Immediately on the admission of a claim

    Dismemberment of

    Thumb & Index figure on the same hand

    25%

    Immediately on the claim admission 

    Anyone limb

    50%

    Immediately on the claim admission 

    Two limbs or more

    100%

    Immediately on claim admission 

    Total and Permanent

    Loss of Speech       

    25%

    As specified in the table of payments

    Loss of hearing in both ears

    50%

    As specified in the table of payments

    Loss of use of any one limb

    50%

    As specified in the table of payments

    Loss of use of two limbs or more

    100%

    As specified in the table of payments

    Total and Permanent Disability

    100%

    As specified in the table of payments

    On the occurrence of these events, payments would be made according to this schedule:

    Payable on

    Percentage of benefit payable

    Date of claim admission 

    10%

    Date of claim admission OR 180 days after being permanently disabled, whichever is later

    30%

    Date of claim admission of claim OR one year after being permanently disabled, whichever is later

    30%

    Date of claim admission of claim OR two years after being permanently disabled

    30%

    In case the Sum Assured dies before receiving the last instalment of the benefit, the beneficiary shall receive the due balance amount in a lump sum. The total amount of benefits payable during the term of this Rider shall not exceed 100% of the Sum Assured of this Rider.

  2. Exide Life Critical Illness or Regular Pay 

    In the event of the diagnosis or occurrence of any covered critical illnesses, the lump sum of the Rider Sum Assured shall be paid. The rider option benefits applicable will be payable as per prescribed terms and conditions of respective Riders when the event occurs. 

Documents Required to Buy Exide Life Smart Term Pro

These officially valid documents are required for your Address proof and Identity proof at the time of buying the Policy:

  • Address proof
  • Identity proof
  • Passport size photographs

How to Buy Exide Life Smart Term Pro Online?

Follow the steps below to buy the Exide Life Smart Term Pro online:

  • Visit the official website of the company. Click on the 'Buy Now' option.
  • The page will appear where you have to fill in your Name, Email, and Mobile number, tick the box to agree with terms and conditions, then, Click 'Continue.'
  • On the next page, you need to fill in sections- Occupation, Education Annual Income, and Date of Birth. Click 'Continue.'
  • On the next page, you have to fill in Sum Assured and some personal questions such as Gender and habit, whether you smoke or chew tobacco, click 'Continue.'
  • This page will show the result- monthly/yearly pay and maturity benefit based on the Sum Assured. Click on ‘Pay Now.'
  • The next page will show your details and ask few more details- PAN card number and city.
  • You need to give consent for receiving any information on Whatsapp. Then proceed to buy.

Exclusion Under Exide Life Smart Term Pro

Suppose Life Insured commits suicide during one year from the risk commencement date or the policy revival date, as applicable. In that case, the Insurer will pay the policyholder’s beneficiary or nominee an amount that is higher of:

  • A minimum of 80% of all premiums paid till the death date, or, 
  • The existing Policy Surrender Value

It is to be noted that policy needs to be active.

FAQ's

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 Smart Term Pro 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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