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Exide Life Insurance Company Limited, an established and profitable life insurance company, commenced operations in 2001-02 and is head quartered in Bengaluru. The company is 100% owned by Exide Industries Limited. The company serves over 15 lakh customers and manages assets of over INR 11000 Crores. During the financial year 2016-17, the company achieved Total Premium Income of over INR 2,400 crores and delivered INR 112 crores in Profits (PBT).
Exide Life Insurance distributes its products through multi-channels viz. Agency, Banc assurance, Corporate Agency & Broking as well as Direct Channels. The Agency channel comprises of 50,000+ advisors who are attached to over 200 company offices across the country.
Exide Life Insurance wins the "IDC Insights Award,2016"
Exide Life Insurance has won IDC Insights Award-2016, under "Excellence in Omni-Experience" category, for successful development and implementation of MyConnect, an internal portal used for the smooth running of Exide Life Insurance sales force.
MyConnect is web based portal and is also available as a mobile app on IOS/ Android platform. It is designed for the sales force with the following benefits:
The coverage comes with a limited playing time period of 5 years.
The premium may be paid month-to-month, half of-yearly or annually or as a single premium.
Automated, personalized and secure dissemination of key information
Updating and tracking the sales activities
Lead management across multiple sales channels
MyConnect has dramatically changed the way the sales team works. One can access business dashboards, standing in the sales league tables and status of the leads.
A Life Insurance Policy creates the foundation for your financial planning. It helps in securing the financial needs of your loved ones in your absence. You pay premium for a certain term and get the benefit of life cover. At Exide Life Insurance, they provide you with a range of carefully designed Life Insurance Products to suit your different savings, investments, protection, retirement and pension needs.
This plan offers premium funding benefit along with life cover plus 23 investment strategies to suit your risk appetite and systematic investment option to benefit from equity markets
You have the option to receive a part of the life cover as family income benefit. In this case your family will receive 50% of the Sum Assured on Death amount as lump sum and 1% of the same will be paid as monthly income spread over 60 months.
This plan is suitable for you if you want to guarantee financial help to your child for fulfilling his/her dreams. You can invest in this if you are in age band of 21 – 50 years and you have a child of up to 15 years of age.
A unique money back plan that offers you guaranteed money back pay-outs. This plan is suitable for those who want a lump sum payouts at fixed intervals to meet their needs.
Exide Life Wealth Maxima, a Unit Linked Insurance Plan that not only helps make the most out of your wealth, but also adapts to offer higher life cover at every new phase of life. This plan is suitable for investors looking for efficient wealth creation options and want to ensure higher financial protection for their family as their responsibilities grow.
Exide Life Income Advantage Plan is a unique savings cum insurance plan which works to your advantage by providing a regular income and life insurance cover. This plan is suitable if you are looking for a second income. It is also an ideal solution if you are planning for your retirement years.
This plan is suited for those who want to build savings securely and want to ensure financial help for their loved ones in case of an unfortunate event.
This plan provides a guaranteed regular income to help you boost your life style. You have to pay premium for few years and you get guaranteed benefits like regular income at an attractive rate of 11% - 13% p.a., lump sum amount on maturity and life cover throughout the policy term.
This plan is suitable if you are looking for guaranteed tax free benefits along with a comprehensive life cover.
This plan is suitable for those looking for guarantee with attractive tax free returns and want payment commitment for few years only.
In case of unfortunate demise of life assured during the policy term, the sum assured amount is paid to the nominee immediately and the policy ends.
This plan is suitable for investors looking for efficient wealth creation options and want to ensure higher financial protection for their family as their responsibilities grow.
Exide Life Wealth Maxima offers 3 plan options with different levels of life cover. You can increase your life cover in the same plan by moving from one plan option to another.
A unit linked plan with multiple investment options and flexibilities that provide you control over your investments and offers life cover for protection in case of unfortunate events.
This plan is suitable for those looking for guarantee with attractive tax free returns and want a payment commitment for a few years only.
A limited pay plan that offers life cover not only in a lump sum, but also as income for family for 60 months. On maturity, you get sum assured with 10% guaranteed addition along with accrued bonuses, if any.
It is a comprehensive plan that will help you fulfill all your responsibilities with regular money back for your intermediate needs, tax free wealth and life cover for a long period.
Your License remains valid for three years and then it has to be renewed every 3 years. For renewing your license, you have to finish a 25 hour of training module as prescribed via IRDA.