Exide Investment Plans
Exide Investment Plans
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Exide Investment Plan

Exide Life Insurance Company Limited, an established and profitable life insurance company, commenced operations in 2001-02 and is headquartered in Bengaluru. The company is 100% owned by Exide Industries Limited. It serves over 15 lakh customers and manages assets of over INR 15,795 crores. The insurance company is highly inclined in offering long-term protection and saving solution plans to its customers.

Exide Investment plans offer benefits of life insurance along with investment. These are quite useful to plan the financial future for yourself and your family.

What are the different types of Exide Life Investment plans?

The insurance company offers a wide variety of investment plans-

  • Exide Life New Creating Life Insurance Plan
  • Exide Life Star Saver
  • Exide Life Saral Jeevan
  • Exide Life Saral Bachat
  • Exide Life My Assured Income Plan
  • Exide Life Income Advantage Plan
  • Exide Life Secured Income Insurance Plan
  • Exide Life Guaranteed Income Insurance Plan
  • Exide Life Sampoorna Jeevan
  • Exide Life New Fulfilling Life

Let's understand each of them in detail.

1. Exide Life New Creating Life Insurance Plan

The plan is designed to offer a financial umbrella to your child, even if you aren't around. It's available in two options:

  • Exide Life New Creating Life Plus
  • Exide Life New Creating Life Regular Pay

Benefits:

  • The insured's child can avail tax-free amount on maturity of the insurance policy, which is equal to the sum assured and bonuses.
  • In case of the death of the insured, his/her family will receive a sum assured on death, which will be the highest of 10 times the annualized premium or the sum assured.
  • The insurance policy offers a discount on high premiums of up to 6%.
  • The policyholder is provided with the option of enhanced protection.

Eligibility Criteria

ParameterExide Life New Creating Life Insurance PlusExide Life New Creating Life Insurance Regular Pay
Minimum / Maximum Age at Entry (Parent)18 Years - 45 Years18 Years - 45 Years
Maximum Age at Maturity (Parent)60 Years60 Years
Minimum / Maximum Age at Entry (Child)0 Years - 17 Years0 Years - 17 Years
Premium Paying Term (PPT)5, 8 or 10 Years15 - 25 Years
Policy Term (Years)For PPT 5 Years: 10 - 20 Years
For PPT 8 Years: 12 - 20 Years
For PPT 10 Years: 15 - 20 Years
Equal to PPT

2. Exide Life Star Saver

It is a limited savings life insurance plan that offers guaranteed tax-free maturity benefits along with comprehensive protection over the entire policy period.

Benefits:

  • It offers a sum assured on maturity along with guaranteed additions and loyalty benefits.
  • Get the benefit of a full policy term by paying a premium only for 5 years.
  • You can avail of the additional death benefit in event of an accident.
  • You can avail of tax benefits under section 80C, 10(10D), 80D of the Income Tax Act, 1961.

Eligibility Criteria

Minimum / Maximum Age at EntryFor Policy Term 10 Years : 8 Years- 60 Years
For Policy Term 12 Years : 6 Years- 60 Years
For Policy Term 15 Years: 3 Years- 60 Years
Minimum / Maximum Maturity Age18 Years- 75 Years
Policy Term10, 12, and 15 Years
Premium Paying Term (PPT)5 Years
Minimum / Maximum Basic Sum Assured (Rs.)Minimum - Rs. 67,950
Maximum - No Limit

3. Exide Life Saral Jeevan

It is a life insurance cum saving insurance plan that offers a guaranteed sum assured at the end of the policy term.

Benefits:

  • Individuals are provided with the option to avail of maturity benefit either as a lump sum or regular annual or monthly income.
  • Grab tax benefits as per the Income Tax Act, 1961.

Eligibility Criteria

Premium Payment Term (PPT)6/8/10 years
Policy TermLump sum VariantIncome Variant
6 PPT: 12 years6 PPT: 6 years
8 PPT: 12/16 years8 PPT: 8 years
10 PPT: 15/20 years10 PPT:10 years
Minimum Age at Entry (as on last birthday)8 years for 10 PPT
10 years for 8 PPT
12 years for 6 PPT
Max. Maturity Age65 years
Maximum Age at Entry (as on last birthday)50 years
Premium Payment ModeAnnual, Half Yearly, Monthly
Max. PremiumRs. 95,000 (subject to Board approved underwriting policy)

4. Exide Life Saral Bachat

It is a non-linked, non-participating plan that offers life insurance cover during the policy term and a guaranteed sum assured on maturity.

Benefits:

  • The Insured's family will get life insurance cover in case of the insured's demise.
  • Choose between two variants of maturity benefit- lump sum and income.
  • Avail tax benefits on the premiums paid as well as maturity amount.

Eligibility Criteria

Premium Payment Term (PPT)6/8/10 years
Policy TermLump sum VariantIncome Variant
6 PPT: 12 years6 PPT: 6 years
8 PPT: 12/16 years8 PPT: 8 years
10 PPT: 15/20 years10 PPT:10 years
Minimum Age at Entry (as on last birthday)8 years for 10 PPT
10 years for 8 PPT
12 years for 6 PPT
Max. Maturity Age65 years
Maximum Age at Entry (as on last birthday)50 years
Max. PremiumRs. 95,000 (subject to Board approved underwriting policy)

5. Exide Life My Assured Income Plan

It is a savings life insurance plan that offers assured regular income to the policyholders. This is best suitable for people who want to pay a premium for a short period and receive assured regular income in the future.

Benefits:

  • Choose between three variants (uniform, enhanced, and increasing income) to avail of guaranteed income payouts.
  • Avail guaranteed terminal benefit on the completion of the policy term.
  • Get enhanced protection through riders- Exide Life Critical Illness and Exide Life Term Rider.

Eligibility Criteria

Premium Payment Term (PPT)5 years/8 years
Policy Term (Years)For 5 PPT-10 years, For 8 PPT-16 years
Minimum Age at Entry (as on last birthday)PPTUniform Income BenefitEnhanced Income Benefit/ Increasing Income Benefit
5 years13 years (14 years for Monthly Income Payout)8 years (9 years for Monthly Income Payout)
8 years10 years (11 years for Monthly Income Payout)2 years (3 years for Monthly Income Payout)
Maximum Age at Entry (as on last birthday)PPTAge at Entry
5 years60 years
8 years54 years
Minimum Premium (Rs.)PPTUniform Income BenefitEnhanced Income Benefit/ Increasing Income Benefit
5 years95,000 (Annual) br50,000 (Half-Yearly) br9,000 (Monthly)50,000 (Annual)
30,000 (Half-Yearly)
5,000 (Monthly)
8 years50,000 (Annual)
30,000 (Half-Yearly)
7,000 (Monthly)
30,000 (Annual)
15,000 (Half-Yearly)
4,000 (Monthly)

6. Exide Life Income Advantage Plan

Under this plan, you can avail of regular income along with life insurance cover for the full policy term. Also, you can pay during the first half, get income during the second half of the policy term.

Benefits:

  • You can avail of extensive protection through optional riders- Exide Life Accidental Death, Disability and Dismemberment Rider, Exide Life Critical Illness Rider (Regular Pay 4 and 25), and Exide Life Term Rider
  • Get a simple reversionary bonus, terminal bonus, special additional bonus under this insurance plan.
  • You can avail a discount of up to 6% if you pay a high premium.
  • This insurance policy offers tax exemption under section 80C, 10 (10D), and 80D of the Income Tax Act, 1961.

Eligibility Criteria

ParametersPolicy Term (Years)
162430
Premium Payment Term (Years)81215
Benefit Payout Term (Years)81215
Minimum Age at Entry (as on last b'day)10 years6 years3 years
Maximum Age at Entry (as on last b'day)55 years55 years50 years
Minimum Age at Maturity26 Years30 Years33 Years
Maximum Age at Maturity71 Years79 Years80 Years
Minimum Premium (Rs. )Annual : Rs. 30,000
Monthly : Rs. 2,724
Half-Yearly : Rs. 15,470
Annual : Rs. 18,000
Monthly : Rs. 1,635
Half-Yearly : Rs. 9,300
Annual : Rs. 12,000
Monthly : Rs. 1,090
Half-Yearly : Rs. 6,190

7. Exide Life Secured Income Insurance Plan

It offers long-term benefits to you and your family and assures a regular income to your family in case of unfortunate events. This plan can be purchased under two variants- Exide Life Secured Income Insurance Plus and Exide Life Secured Income Insurance RP.

Benefits:

  • You can avail of death benefits with a family income payout option.
  • Get the flexibility to choose between limited and regular pay options.
  • You can avail of a discount on high premiums up to 7%.
  • The insurance policy offers an option of enhanced protection.

Eligibility Criteria

ParameterExide Life Secured Income Insurance PlusExide Life Secured Income Insurance RP
Minimum / Maximum Age at Entry0 Years - 50 Years0 Years - 55 Years
Minimum / Maximum Age at Maturity18 Years - 70 Years18 Years - 70 Years
Premium Paying Term (PPT)5, 8 or 10 Years15 - 25 Years
Policy Term (years)For PPT 5 Years : 10 - 20 Years
For PPT 8 Years : 12 - 20 Years
For PPT 10 Years : 15 - 20 Years
Equal to Premium Payment Term
Minimum Premium (Rs. )For PPT 5 Years : Rs. 50,000 p.a.
For PPT 8 Years : Rs. 30,000 p.a.
For PPT 10 Years : Rs. 25, 000 p.a.
Rs. 15,000 p.a.

8. Exide Life Guaranteed Income Insurance Plan

This insurance plan offers guaranteed regular income at an attractive rate of 11%-13% p.a., death benefit, and lump sum on maturity during the entire policy term.

Benefits:

  • You can select the rate at which you want the income payout (11%, 12%, or 13% p.a).
  • Get a lump sum amount (equal to the sum assured) at the end of the policy term under maturity benefits.
  • In case of death of the insured, the nominee will receive a higher of 10 times the annualized premium or sum assured or 105% of the total premium paid.

Eligibility Criteria

Policy Term16 Years20 Years24 Years30 Years
Premium Payment Term8 Years10 Years12 Years15 Years
Income Payout Term8 Years10 Years12 Years15 Years
Minimum Age at Entry10 Years8 Years6 Years3 Years
Maximum Age at Entry55 Years
Minimum Annualized PremiumRs. 24,000Rs. 18,000Rs. 12,000Rs. 12,000
Maximum Annualized PremiumNo Limit
Sum AssuredMinimum: Rs. 90,978, Maximum: No Limit

9. Exide Life Sampoorna Jeevan

This is a comprehensive insurance plan that offers life cover up to the age of 75 or 100 years along with regular income, lump-sum payout, or both

Benefits:

  • Policyholders are provided with 5 bonus options- Simple Reversionary Bonus for Term, Simple Reversionary Income Bonus, Cash Bonus, Simple Reversionary Bonus for Premium Payment Term and Cash Bonus, and Simple Reversionary Income Bonus and Cash Bonus.
  • Avail loan benefit against your policy in case of financial emergencies.
  • Grab a discount on premium by paying a higher premium amount.

Eligibility Criteria

Eligibility ParametersPremium Payment Term (Years)
68101215
Minimum age at entry (as on last birthday)Sampoorna Jeevan 7512 years10 years8 years6 years3 years
Sampoorna Jeevan 10018 years
Maximum Age at Entry (as on last birthday)Sampoorna Jeevan 75Lump Sum Option60 years60 years60 years58 years55 years
Income Option54 years52 years50 years48 years45 years
Lump Sum with Income Option54 years52 years50 years48 years45 years
Income with Lump Sum Option54 years52 years50 years48 years45 years
Sampoorna Jeevan 100Lump Sum Option60 years60 years60 years58 years55 years
Income Option54 years52 years50 years48 years45 years
Lump Sum with Income Option45 years
Income with Lump Sum Option54 years52 years50 years48 years45 years
Min/Max Age at Maturity (as on last birthday)Sampoorna Jeevan 75 variant : 75 years
Sampoorna Jeevan 100 Variant : 100 years
Policy TermSampoorna Jeevan 75 : 75 minus age at entry
Sampoorna Jeevan 100 : 100 minus age at entry

10. Exide Life New Fulfilling Life

It is a comprehensive plan that offers regular money back for your basic needs, life cover for a longer period, and tax-free wealth.

Benefits:

  • You can avail of life cover till the age of 85 years.
  • Policyholders can avail of income tax exemption u/s 80C and 10(10D) of the Income Tax Act, 1961.
  • Grab periodic survival benefits over 4 installments.

Eligibility Criteria

Minimum / Maximum Entry Age15 to 50 years (For PPT 12, 16, or 20 years)
15 to 46 years (For PPT 24 years)
Maximum Premium Ceasing Age70 years
Policy TermTill age 85 years
Premium Paying Term (PPT)12, 16, 20 and 24
Minimum PremiumFor PPT 12 years : Rs. 24,000/-
For PPT 16, 20, 24 years : Rs. 12,000/-.

How can I buy Exide Life Investment Plans?

Follow the below-mentioned steps to purchase Exide Life Investment Plans:

  • Visit the official website of Exide Life Insurance.
  • Click 'Our Products' and then click 'Saving & Investments'.
  • Choose a plan of your choice from the available options.
  • Scroll down below to find 'I'm Interested' and click on it.
  • Fill in the details and generate the OTP.
  • A representative from the company will contact you for further information.

Note: You can also reach the nearest Exide Life Insurance branch to buy an investment plan.

How can I claim for Exide Life Investment Plans?

Follow the below-mentioned steps to claim for an Exide Life Investment Plan:

  • Visit the official website of Exide Life Insurance.
  • Click 'Customer Service' and then click 'All Claims'.
  • Click on 'Register A Claim Online' and enter the details.
  • Now submit all the required documents (including the claim form).
  • After successful verification, the company will settle the claim.

You need to submit the documents at the nearest Exide Life Insurance branch or the following address:

Mail to Claims Department, 1st Floor, Exide Life Insurance Company Limited, JP Techno Park, No.3/1, Millers Road, Bangalore - 560 001

Exide Investment Plans: FAQs

Customers can call on 18004190808 (to buy policy) and 18004198228 (for policy serving) to get their queries resolved.

The plan offers two modes for income payout- monthly and annually.

You can pay the premium via two means- monthly and annually.

Last updated on 25-11-2020