Exide Life Insurance

Exide Life has a comprehensive portfolio filled with savings plans, child plans, retirement and investment solutions and more. Following is a list of life insurance policies you can purchase from Exide Life Insurance Company Limited:

Exide Life Protection Plans

Given below is a brief description of the protection plans offered by Exide:

Exide Life Savings and Investment Plans

• Exide Life New Creating Life Insurance Plans:
  • The entry age of the parent can range between 18 years and 45 years.
  • Two plans are available under this insurance policy.
  • The maximum age of the parent at the time of maturity is 60 years.
  • The maximum entry age of the child is 17 years.
  • The premium can be paid monthly or yearly.
• Exide Life Star Saver:
  • The three different policy terms that are available are 10 years, 12 years, and 15 years.
  • The Premium Paying Term is 5 years.
  • The premium can be paid monthly, half-yearly, or yearly.
  • The policy is a limited payment savings insurance plan.
• Exide Life Saral Jeevan
  • Life insurance cover is provided over the entire term of the policy.
  • The two variants that are available under this plan are Income Variant and Lump Sum Variant.
  • Tax benefits are provided on the principal amount and maturity amount.
  • The Premium Payment Terms (PPTs) that are available are 6 years, 8 years, and 10 years.
  • The premium payment modes available are monthly, half-yearly, and yearly.
  • The income payout modes available are monthly and annually.
• Exide Life Saral Bachat
• Under the plan, the family is protected financially in case the policyholder passes away.
• The maximum age of entry for this plan is 50 years.
• Tax benefits are provided on the premium that is paid and the maturity amount.
• The Premium Payment Terms (PPTs) available are 6 years, 8 years, and 10 years.
• The premium payment modes available are monthly, half-yearly, and yearly.
• The income payout modes available are monthly and annually.
• Exide Life My Assured Income Plan
  • Under the plan, you will be provided a regular income.
  • The three variants that are available under the policy are Uniform Income Benefit, Enhanced Income Benefit, and Increasing Income Benefit.
  • Riders can be added to the plan.
  • The PPTs that are available are 5 years and 8 years.
  • The premium payment modes available are monthly, half-yearly, and yearly.
  • The income payout modes available are monthly and annually.
• Exide Life Income Advantage Plan
  • Life insurance cover is provided over the entire tenure of the policy.
  • Guaranteed income.
  • Tax benefits are provided on the premium that is paid.
  • The policy term options that are available are 16 years, 24 years, and 30 years.
  • The premium payment modes available are monthly, half-yearly, and yearly.
• Exide Life Secured Income Insurance Plans
  • The two different plans that are available under this policy are Exide Life Secured Income Insurance Plus and Exide Life Secured Income Insurance RP.
  • Riders can be added to the policy.
  • In case you pay a high premium, discounts are provided.
  • You have the option to choose between a regular or limited pay option.
  • The premium payment modes available are monthly and yearly.
• Exide Life Guaranteed Income Insurance Plan
  • Tax benefits can be claimed on the maturity amount.
  • Payments must be made for the first half, you will receive the income in the second half. Tax benefits can be claimed on the income that is earned.
  • Life cover will be provided when the income is paid.
  • Life cover is provided for the entire policy term.
  • The different policy terms that are available are 16 years, 20 years, 24 years, and 30 years, respectively.
  • The premium payment options that are available are monthly and years.
• Exide Life Wealth Maxima
  • Comprehensive life cover is provided.
  • Three different investment strategies are provided.
  • Three different plans are available.
  • Loyalty benefits are provided.
  • Tax benefits under Section 80C of the Income Tax Act, 1961.
  • The three different policy term options that are available are 10 years, 15 years, and 20 years.
  • The premium payment frequency options that are available are monthly, half-yearly, and yearly.
• Exide Life Assured Gain Plus
  • Even though you pay only for 5 years, life insurance cover is provided for the entire policy term.
  • You can increase the protection by adding riders.
  • The three different policy term options that are available are 10 years, 12 years, and 15 years.
  • The premium payment modes that are available are single, monthly, semi-annually, and annually.
• Exide Life Wealth Builder - Single Premium Plan
  • Life insurance cover is provided for the entire term of the policy.
  • Only one premium will need to be paid.
  • Death benefit is provided.
  • The two policy terms that are available are 5 years and 10 years.
  • Maturity benefits are provided.
  • The minimum premium that must be paid is Rs.1 lakh.
• Exide Life Wealth Plus
  • Eight fund options are provided.
  • Comprehensive death benefit is provided.
  • Maturity benefit is provided.
  • Tax benefits are provided under Section 80C of the Income Tax Act, 1961.
  • The policy term ranges between 10 years and 20 years.
  • The premium payment options that are available are monthly, half-yearly, and yearly.
• Exide Life Secured Income Insurance Plus
  • In case a high premium is paid, discounts are provided.
  • You have the option to choose between regular and limited pay options.
  • A tax-free amount is provided on maturity.
  • The PPTs that are available are 5 years, 8 years, and 10 years.
  • There is no limit to the maximum premium that can be paid.
  • The premium payment modes that are available are monthly and annually.
• Exide Life Sampoorna Jeevan
  • Life cover is provided up to the age of 75 years or 100 years.
  • Five bonus options are provided.
  • Tax benefits are provided.
  • The premium payment term options that are available are 6 years, 8 years, 10 years, 12 years, and 15 years.
  • The premium payment options that are available are monthly, half-yearly, and yearly.
• Exide Life New Fulfilling Life
  • Life cover is provided until you attain the age of 85 years.
  • Income tax benefits are offered.
  • The PPTs that are available are 12 years, 16 years, 20 years, and 24 years.
  • The premium payment modes that are available are monthly and annually.

Exide Life Retirement and Pension Plans 

• Exide Life New Immediate Annuity
  • No medical examinations need to be provided.
  • You can choose between several options for annuity.
  • Death benefits are provided.
  • The policy is easy to purchase.
  • A single payment has to be made.
  • The annuity payout modes that are provided are monthly, quarterly, half-yearly, and yearly.
• Exide Life Smart Pension Plan
  • Loyalty bonuses are provided.
  • A retirement corpus can be built.
  • Death benefits are provided.
  • The PPTs that are offered range between 5 years and 30 years.
  • The premium payment frequency options that are provided are monthly, half-yearly, and yearly.
  • There is no limit to the maximum premium that can be paid.

Exide Life Group Insurance

• Exide Life Group Micro Term Insurance
  • Life covers are provided to the members at a nominal premium.
  • Medical examinations need not be provided.
  • Insurance can be purchased for your spouse as well at a nominal fee.
  • There is no limit to the group size.
  • The minimum number of individuals in the group must be five.
  • The minimum and maximum sum assured for each member are Rs.1,000 and Rs.2 lakh, respectively.
• Exide Life Group Gratuity Product
  • Tax benefits can be availed.
  • You have the option to transfer past service contributions.
  • You have the option to choose between several Unit Linked Investment Funds.
  • The minimum policy term is 1 year.
  • The minimum size of the group is 10 members.
  • There is no limit to the number of members.
  • The mode of contributions is monthly, quarterly, half-yearly, or yearly.
• Exide Life Group Illness Rider
  • Around 25 critical illnesses are covered.
  • You can remove or add employees at any given time in a year.
  • Tax benefits are provided.
  • Terminal illness benefit options are provided.
  • The premium must be paid every year.
  • The policy term is 1 year.
  • There is no limit to the size of the group.
• Exide Life Group Loan Suraksha
  • A single premium must be paid.
  • You can choose between Reducing and Level covers.
  • Coverage is provided for varied loan segments.
  • The moratorium period ranges between 1 year and 7 years.
  • Co-borrowers are covered under the policy.

How to File a Claim with Exide Life Insurance Company Limited?

Here is the procedure to claim insurance with Exide Life:

• Step 1: Register your claim as soon as the loss/event has occurred.
• Step 2: Acquire a claim intimation form from your nearest Exide Life Insurance Branch Office, or download a form off the website. This form must contain details like:
  • Policy Number
  • Name of policyholder and dependants, nominees, etc.
  • Contact information and address
  • Name of the life assured
  • Relationship with the life assured (Nominee, appointee, assignee, etc.)
  • Type of claim (death - natural or unnatural, disability or dismemberment, critical or terminal illness)
  • Cause of event.
• Step 3: Completely and diligently fill in the form and attach all required documents.
• Step 4: Submit the duly filled in claim intimation form with necessary documents and submit them at the nearest Exide Life Insurance Branch Office, or mail them to Customer Services, Exide Life Insurance Company Ltd., Gold Hill Square, 1st Floor, #690 Hosur Road, Begur Hobli, Bangalore - 560068.
• Step 5: Once the claim is registered, an Acknowledgement Letter will be sent to you. Use your policy number for all queries and interactions with Exide Life Insurance Company until your claim is settled.

Documents Required for Claims Arising from Natural Death:

• Completely filled in Claim Intimation Form.
• Original Policy Document.
• Original death certificate issued by local authority.
• Copy of medical cause of death certificate.
• Medical records of discharge, death summary, test results, admission and outpatient consultation notes, etc.
• Age proof and Identity Proof (with photo) of life assure.
• Identity Proof (with photo) of claimant.
• Proof of Bank Account of claimant with a self-attested copy of his bank passbook, account statement.
• Proof of current address.

Documents Required for Claims Arising from Unnatural Death or Accidental Death (Including Suicide):

In case of unnatural or accidental death of a policyholder, all the documents as requested in case of claims arising from natural death must be presented in addition to the following documents:

• Copy of the FIR, attested by the jurisdictional police station concerned.
• Post Mortem Report, attested by all concerned officials.

The same paperwork is needed for claims resulting from accidental disability or dismemberment as it is for claims resulting from natural death.

Documents required for claims arising from Critical Illness and Terminal Illness are also the same as those required for claims arising from natural death.

Exide Life Claim Settlement Ratio:

Documents Required for Buying Exide Life Insurance:

The following are the documents that must be attested to the Exide Life Insurance application:

• Address proof
• Identity proof
• Income proof
• PAN Card
• Self-attested bank passbook copy

How to Check Exide Life Policy Status?

Individuals who purchase a life insurance policy from Exide Life can either check the status of their policy online or contact the customer care of the company via email or phone.

To check the status of your Exide Life insurance policy online, all you have to do is visit the company's official website and find the Track Your Policy link on the home page. Login to your customer account by entering the username and then provide the requested details and your policy status information will appear on screen.

The alternative to checking your policy status online is getting in touch with a customer care executive over call or email. To check your policy status over phone, call 1800 419 8228.

Exide Life Insurance Online Payment:

Customers who prefer to pay their premium online rather than in person at an Exide Life branch can do so in four easy steps. You only need to go to the Payment area on the company's home page, enter the necessary information (such as your policy number and birthdate), see the specifics of your policy and premium, and then pay using a credit card, debit card, or net banking.

Exide Life Premium Calculator:

You only need to go to the company's website and find the calculator to figure out the premium that will be charged for your Exide Life insurance policy. Following, choose the plan or solution and then the product category. After that, you must move on to the next phase, where you must provide your name and birthdate. Then, you must input your policy information, including the frequency of your premium payments, the annual premium you desire to invest, the capital guarantee you require, the length of the policy, and the period during which your premiums are due. The premium for your plan will appear on your screen once you have input the aforementioned information as well as any others that might be needed based on the policy you select.

Exide Life Insurance Customer Care:

Exide Life Insurance is one of the foremost life insurance providers in India which offers a bouquet of well-appointed policies. In addition to offering life insurance, Exide Life is also committed to serving all policy-related requirements that their customers may have. In their constant endeavour to not only improve but also provide greater convenience to their customers, the insurer has set up a special section dedicated to customer support. The sole purpose of the customer care division is to help customers with all their policy-related requests. To execute this, the insurer has set up multiple channels via which customers can get in touch with the customer support staff. In addition to the helpline number and email address, customers can also get in touch with the customer support team at any Exide life branch office. The insurer has also provided a number of self-service options on their website using which customers can perform a number of requests such as top up their premium, get a premium certificate, update their details, request for unclaimed amount, sign up for direct debit, get information about the surrender process, claim intimation, and download forms, among other requests.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017