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Exide Life Term with Return of Premium Plan

Exide Life Term with Return of Premium Plan is a comprehensive insurance cover designed to provide life protection at affordable premiums. It also offers the return of premium option for benefits at policy maturity.

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The features that make Exide Life Term with Return of Premium Plan one of the most economical term insurance solutions are the limited and regular payment options, revival benefit, and reduced payable feature. The policy issuance process is without any hassles as no medical tests are required while buying the policy. 

Note: Know more about what is term insurance first before reading this article.

one crore term plan

Term Plans


Life Cover

@ Starting from ₹ 16/day+


Life Cover

@ Starting from ₹ 8/day+


Life Cover

@ Starting from ₹ 12/day+

Salient features of Exide Life Term with Return of Premium Plan






Policy Tenure 


10 to 30 years

30 years


12 to 30 years

Premium Paying Term


10 to 30 years

30 years


12 to 30 years

Sum Assured


Rs.10 lakh

Rs.25 lakh


Rs.5 lakh

Premium Payment Frequency


Loan Facility

No Loan facility is available under the plan

one crore term plan

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Term Plan Starting @ ₹449/month+

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Policy Benefits

The Exide Life Term with Return of Premium Plan offers benefits to serve the needs of dependents of the insured. The plan includes a life insurance cover for the policy term. In case of the unfortunate death of the insured, an amount is paid to the nominee, which is equal to the sum assured. At the end of the policy term, the policyholder will receive an amount equal to 100% of the aggregate premium amounts paid during the policy term.

  1. Death Benefit

    The Sum Assured on Death is determined as highest of -

    • Absolute amount assured which will be paid on death; or
    • 105% of total premiums paid till the date of death; or
    • Sum Assured on Maturity; or
    • ‘X’ times the Annualized premium for the policy.

    For both Regular and Limited Premium plans, the multiple of ‘X’ times is determined as follows:

    Till 44 years

    45 years and above

    X = 10 times

    X = 7 times 

  2. Tax Benefits

    Life insurance policies carry significant benefits under the Income Tax Act, 1961. While the death benefit and maturity proceeds are exempt from tax under Section 10 (10D), the total premium paid in a financial year is eligible for deduction under Section 80 C. 

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

Premium Illustration

In the Exide Life Term with Return of Premium Plan, the policyholder has an option to pay the premium for Limited or Regular duration, which is payable in annual instalments. The amount of premium payable depends on the premium payment option chosen at inception.

Example: Ayush 30 years old, opts for a 30 years policy term with regular premium payment with a Sum Assured of Rs 25 lakhs. The annual premium stands at Rs 13,154and the Guaranteed Surrender Value is Rs 394, 620.

The plan offers the flexibility to choose the number of years you want to pay the premiums. You may choose to pay premiums for the entire Policy tenure (Regular Premium) or 5 years (Limited Premium), as per your preference. A prospective policyholder must refer to the policy brochure before choosing the right premium plan.

Rider Options

No riders are allowed under Exide Life Term with Return of Premium Plan. However, the policy offers few additional benefits such as:

  • Large Sum Assured discount: The plan offers a benefit of a lower premium rate for Basic Sum Assured of Rs 10 lakhs and above for regular premium payment option. There are separate premium rate tables for Basic Sum Assured below Rs 10 lakh and above Rs 10 lakh. There is no similar discount under the Limited Pay option. For further details, please refer to Exide Life Term with Return of Premium Plan brochure.
  • Guaranteed Surrender Value: The Policy will acquire a Guaranteed Surrender Value if all due premiums for at least 2 full years have been paid. The Guaranteed Surrender Value is a percentage of aggregate premiums paid as provided in the table in the Exide Life Term with Return of Premium Plan
  • Premium discount offered for women: The Premiums payable by female policyholders shall be equivalent to the premium for a male who is three years younger.
  • Reduced Paid-up Benefits: If in an event, at least 2 full years’ premium instalments have been paid, further premium payments are stopped, and the policy is not surrendered, then the policy shall become a ‘Reduced Paid Up’ policy on the expiry of Grace Period till the time it gets revived with full benefits. Grace Period for payment of premium under Exide Life Term with Return of Premium Plan shall be 30 days. Once the policy becomes a ‘Reduced Paid-Up,' the policy acquires a nonforfeiture benefit. This shall be the Reduced Paid-up Value, calculated as follows:
  • Reduced Paid-up Death Benefit: (No. of paid premiums ÷ Total Number of payable premiums) x Sum Assured on Death.
  • Reduced Paid-up Maturity Benefit: Aggregate premium amounts paid.

Eligibility Criteria

The Exide Life Term with Return of Premium Plan eligibility norms is varied depending on the chosen plan option, i.e., Limited or Regular. The eligibility parameters are:





Entry Age 

18 years

50 years

Maturity Age 

28 years

65 years

What Are the Documents Required To Buy the Plan?

The documents required to buy the Exide Life Term with Return of Premium Plan are a standard requirement. Photocopies of the valid documents need to be submitted. The documents required by the insurer may vary on a case to case basis. The following documents are mandatory:

  • Proposal form
  • Age proof
  • Proof of residence
  • Salary slips/ Income proof
  • Recent passport-sized photographs
  • Medical reports
  • Bank account details

How To Buy the Exide Life Term with Return of Premium Plan Online?

For buying the policy online, you must fill the proposal form, and upload scanned documents of identity, address, income proofs, etc. Buying term insurance online is a nine-step process as follows:

  • Visit the insurer’s website
  • Select an online term plan
  • Opt for ‘How Much Life Cover You Need’ Calculator to find the appropriate life cover
  • Enter the appropriate life insurance cover and policy period
  • Mention the birth date and whether the purchaser smokes or not
  • Provide basic data such as name, email ID, and contact details
  • One will get a quote for the premium, which one can compare and analyze for various sum assured and policy periods
  • Fill an online proposal form to provide personal details, occupation details, medical records, and lifestyle details
  • After filling in the details, proceed to pay the premium amount to finish the policy purchase

Policy Exclusions

Before finalizing the purchase of Exide Life Term with Return of Premium Plan policy, it is essential to know about the exclusions to have a hassle-free experience during the time of policy claim. It is advisable to check the policy document for a detailed exclusion list. 

  • Suicide Clause: In the event of death by suicide within 12 months from the date of commencement of the policy, the nominee shall be entitled to at least 80% of the aggregate premiums paid till the date of death or the surrender value available as on the date of death whichever is higher. The benefits are offered if only the policy is active at the time of death of the policyholder.

Note: Check out the best term insurance plan in India and choose one that suits your requirements.


  • Q. Can the Exide Life Term with Return of Premium Plan be modified anytime during the tenure of the policy?

    Ans: No alterations are allowed under this insurance policy during its tenure. The plan premium payment option selected at the time of purchase of the policy cannot be modified.
  • Q. Can the Exide Life Term with Return of Premium Plan revive after non-payment of premium beyond the Grace Period?

    Ans: Yes. One can revive the policy during the policy term within five years from the first unpaid premium date. This can be done by submitting the proof of continued insurability to the satisfaction of the insurer and making the payment of all due premiums along with late fees calculated at the existing interest rate at the time of the payment. To determine the continued insurability of the policyholder, a medical examination by the insurer may also be needed. The interest rate is set as Bank rate fixed by RBI as of 1st April each year plus 2.50%, rounded up to a multiple of 50 basis points. It is subject to IRDAI’s approval.
  • Q. Can the nomination be modified under Exide Life Term with Return of Premium Plan?

    A: Yes. Nomination can be modified or cancelled any time before the maturity of the policy by an endorsement or a will.
  • Q. Can NRI take term insurance in India?

    A: Yes. A Non-Resident Indian is eligible to buy a term insurance plan in India. When the NRI applies for a term plan while visiting India, once the underwriting is completed for the policy, it will be considered as any other policy bought by an Indian. One may apply for a term plan from the country of residence by writing or contacting the life insurer.
  • Q. Is it safe to buy an online term plan?

    A: Yes. It is completely safe to buy term life insurance online since the confidentiality of the policyholder details is maintained, and the premium amounts are paid through secured payment gateways.
  • Ans: You can easily calculate the term insurance premium online by using the term insurance calculator online tool
  • Ans: Here are 4 common term insurance benefits:
    • Low premium rates
    • Tax Benefits
    • Death Benefit
    • Long term coverage
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