Exide Life Insurance
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Exide Life Insurance

Exide Life, an established and profitable life insurance company, commenced its operations in 2001-02. The insurance company is headquartered in Bangalore and is a fully owned subsidiary of HDFC, the Company manages assets of INR 18,381 Crores (as of 31 March 2021).

Exide Life focuses on providing long-term protection and savings plans and has a strong traditional product portfolio. Exide Life insurance plans are diverse and flexible. Recognized as the Economic Times Best Brand under the BSFI category in 2020, Exide Life Insurance has a constant emphasis on innovation. They have an extensive geographic footprint with a vast client base and steady technology up-gradation. Exide Life Insurance has become a brand that India trusts.

Exide Life Insurance has achieved multiple awards and accolades since its inception:

  • ET Best Brands 2020 in the BFSI category.
  • Exide Life Smart Term Plan was voted Product of the Year 2019 in a National Survey conducted by Nielsen.
  • Digital Insurer of the Year 2018 (India) at the Insurance Asia News Awards.
  • Ranked in the '100 Best Companies for women to work in India' in a survey by Working Mother and the AVTAR Group.

Key Features of Exide Life Insurance Company

If you are planning to purchase a life insurance policy, you must evaluate the important parameters of the insurer first. Buying a policy is a crucial decision and most of all, a long-term investment. Therefore, it is important to ensure that you have full information about the Insurer & the Insurance policy you choose.

To help you analyze the performance of Exide Life Insurance Company, we have examined a few factors such as claim settlement ratio, solvency ratio, etc that will help you to get an insight into the company's performance:

  • Claim Settlement Ratio
    The ratio is a measure of the claims paid against those filed. It helps you to analyze the claim settling ability of the Insurer. The ultimate goal of buying an insurance policy is ensuring that the dependents receive the benefits intended. Therefore, it is advisable to check the company's CSR to make an informed decision.
    In the current year, the company reported a CSR of 98.54%.
  • Solvency Ratio
    This ratio helps you to analyze the company's debt or other financial liabilities in the long term. IRDAI has made it mandatory for life insurers to maintain a solvency ratio of 1.5. As per the latest IRDAI Report, Exide Life has a solvency ratio of 2.17.
  • Annual Premium
    As per the IRDAI Report 2020-21, the company has reported an annual premium of Rs. 3,325 crores.
  • Operating Network
    Exide Life Insurance has established a multi-channel distribution network of agencies, bancassurance partnerships, corporate agents and brokers. The agency channel comprises about 40,000 advisors, spread across 200 offices in PAN India. It also has a direct channel and online reach enabling easier access for the buyers.
Exide Life Insurance Key Features

Benefits of Exide Life Insurance

Below mentioned are some of the benefits that Exide Life Insurance company offers:

A wide array of products

The extraordinary range of insurance products

Wide premium collection network

Multiple Premium Payment options

Taxation benefits

Avail Tax Benefits

Extensive customer service

24*7 Customer Care Service

A wide array of products

The company offers a rich product mix including protection plans to strengthen the family's financial foundation, savings, and investment plans to meet various life goals, and retirement plans to secure your golden years.

Wide premium collection network

Exide life insurance makes premium payment easier with its multiple premium payment options like online payment, auto-debit from a bank account, cheque, cash, and multiple cash-only centers.

Taxation benefits

With Exide Life Insurance plans, the policyholders can avail of tax deductions as allowed under the Income Tax Act 1961.

Extensive customer service

Exide Life Insurance has customer satisfaction as its prime endeavour. It offers easy procedures for renewing your insurance policies. By providing one of the most customer-friendly claim procedures, Exide Life Insurance endears itself to its policyholders by providing them peace of mind that the future of their family members is in safe hands.

Exide Life Insurance Plans

Exide Life Insurance Plans are designed to cater to every insurance-related need of an individual. Be it a term plan, investment plan or retirement plan, the company has it all. Following is the list of plans which are offered by Exide Life:

  1. Exide Term Insurance Plans

    Plan Name Entry Age Max. Maturity Age Sum Assured
    Saral Jeevan Bima 18-65 years 70 years Rs. 5-25 Lakhs
    Smart Term Pro 18-60 years 80 years Rs. 15 Lakhs to maximum as per the Board Approved Underwriting policy of the company
    Smart Term Edge 18-58 years 75 years Rs. 5 Lakhs to maximum as per the Board Approved Underwriting policy of the company
    Term with Return of Premium Plan 18-50 years NA Rs. 5-25 Lakhs

    Know More About: Exide Term Insurance Plans

  2. Exide Savings & Investment Plans

    Plan Name Entry Age Max. Maturity Age Policy Tenure
    New Creating Life Insurance Plan 18-45 years 60 years 20 years
    Smart Income Plan 4-60 years 97 years 19 years| 25 years| 31 years| 37 years
    Star Saver 3 - 60 Years 75 years 10, 12 and 15 Years
    Saral Jeevan 8-50 years 65 years 6,8,10 years
    Saral Bachat 8-50 years 65 years 6,8,10 years
    My Assured Income Plan 2 - 60 years NA 10/16 years
    Secured Income Insurance Plans 0-50 Years 70 years 20 years
    Income Advantage Plan 3-55 Years 80 years NA
    Guaranteed Income Insurance Plan 3-55 years NA 16/20/24/30 years
    Guaranteed Wealth Plus 3-60 years 101 years Lump Sum Variant: 12 & 15 years
    Income Variant: 37/39/41
    Wealth Maxima 0-65 years 75 years 10, 15 to 20 Years
    Assured Gain Plus 3-65 years 80 years 10, 12 or 15 years
    Wealth Builder 8-65 years 75 years 5/10 years
    Wealth Elite 0-65 years 75 years 10-20 years
    Sampoorna Jeevan 18-60 years 100 years Sampoorna Jeevan 75 : 75 minus age at entry
    Sampoorna Jeevan 100 : 100 minus age at entry
    New Fulfilling Life 15-50 years 70 years 85 years minus age at entry
  3. Exide Retirement Plans

    Retirement plan is a form of life insurance plan that is designed to meet your post-retirement needs and help you to live a stable and happy life. Check the Exide Life Retirement Plan below-

    Plan Name Entry Age Policy Tenure Sum Assured
    Exide Life New Immediate Annuity 18-65 years 5- 35 years (subject to maturity age of 70 years) Minimum: Rs. 5,00,000
    Maximum: Rs. 25,00,000
    Exide Life Smart Pension Plan 40-80 years NA NA
    Qualifying Recognised Overseas Pension Scheme (QROPS) NA NA NA
    Exide Life Saral Pension 25-70 years 5-55 years NA
  4. Exide Health Insurance Plans

    The health insurance plan is basically a general insurance product. Exide Life Insurance offers a specific health plan, which is hard to get anywhere else. Let's check it out below-

    Plan Name Entry Age Policy Tenure Sum Assured
    Exide Life Sanjeevani Minimum: 18 years
    Maximum: 65 years
    Minimum - 5 years
    Maximum - 35 years subject to maturity age of 70 years
    Minimum: Rs. 5,00,000
    Maximum: Rs. 25,00,000

Life Insurance Companies

Compare and buy the most suitable Life Insurance Plan from the below-mentioned IRDAI-approved Life Insurance companies.

Riders Available with Exide Life Insurance Plans

To give you enhanced protection, Exide Life Insurance Policy offers several riders that will help the individual to customize their plan as per their needs and requirements.

  • Exide Life Term Rider An add-on product that assists you to enhance the basic life cover at a nominal additional premium. You can easily attach this rider with selective Exide Life Insurance Traditional plans.
  • Exide Life Critical Illness Rider A protection cover that the insured can add to traditional Exide Life Insurance Plans and avail lump sum benefit if diagnosed with any major illness such as Cancer, Heart Attack, Paralysis, etc.
  • Exide Life Accidental Death Disability and Dismemberment Rider This rider offers enhanced coverage in case of accidental death, disability or dismemberment and can be attached to a traditional Exide Life Insurance Policy.

How To File a Claim at Exide Life Insurance?

Making a claim under Exide Life Insurance Policy is an easy & simple process. Just follow the below-mentioned step to make a claim for Exide Life Insurance Company:

  • Register claims at their official website.
  • Move to 'Customer Service' and click on 'All Claims'.
  • Click on 'Register A Claim'.
  • Fill in the required details.
  • Submit the form with the required documents.

You could also write to them at claims@exidelife.in Upon completing the registration process, you shall receive an acknowledgement for the same. You can use the policy number to clear all your queries regarding the claim until the declaration of the decision.

If your request is accepted, the money shall be transferred to the claimant's account.

Note - You can also file the claim by visiting the nearest company's branch office.

What Are The Documents Required For Claim Settlement?

For filing a claim for Exide Life Insurance Plans, you need to submit some documents along with the application. Below is the list of documents that you need to submit to file a claim under Exide Life Insurance.

  • Duly filled in the Claim Intimation form.
  • Original Death Certificate.
  • Copy of Medical Cause of Death Certificate and Medical Records ( Outpatient consultation notes, Test results, Discharge / Death summary, Admission notes, etc).
  • Age Proof & Identification document.
  • Photos of the claimant.
  • Proof of Bank account of Claimant (Self Attested copy of Bank Passbook / Account statement of Claimant).

Exide Life Insurance Contact Details

3rd Floor, JP Techno Park, No. 3/1, Millers Road,Bangalore- 560 001, India

websales@exidelife.in
care@exidelife.in
customer-service/complaints-and-feedback/write-to-us

1800 419 0808
1800 419 8228; +91 80 4134 5444
080 49280628 (between 9:00 am and 6:00 pm)

Life Insurance Articles

Exide Life Insurance: FAQs

1. What are the different premium payment modes available for Exide Life Insurance plans?

Below mentioned are some premium payment modes made available by Exide Life Insurance plans

  • Online Payment
  • Auto Debit
  • NEFT
  • ECS
  • Net Banking
  • Debit Card
  • Credit Card
  • eCollect

2. How can I renew my existing policy with Exide Life Insurance?

It can be done online in 3 easy steps:

  • Log into your account and enter your policy details along with the date of birth
  • Pay the fee via net banking or credit/debit card
  • Receive the online receipt of your premium payment

3. What is the Policy cancellation process at Exide Life Insurance?

You can visit the company branch and submit the duly filled surrender form and the necessary documents. Once the submitted documents have been received, you get a notification from the company and the refund will be initiated.

4. Is it possible to cancel my Exide Life Insurance policy and have a refund processed?

Generally, Life insurance plans come out with a free look in a period of 15- 30 days. If you cancel Insurance during this period, the total premium amount would be refunded and only the stamp duty fees will be deducted along with the proportional risk charges for the days you are being covered.

5. What modes are available for paying your premium online?

Various modes of payment are available that help in paying your premium online such as Debit card, Credit card, payment wallet, UPI, and Net Banking.

6. How to plan your financial savings with Exide Life Insurance? Is there a proper way to do it?

The website of Exide Insurance company incorporates a lot of planning tools and calculators, which help you in your financial planning. You can simply apply these tools to check how prepared you are. With the help of these, you can put all your relevant details and find out accordingly.

7. How much can I save on tax if I buy term insurance?

One can avail tax benefit of up to Rs.1.5 lakhs (from the taxable income) post paying the premium of term insurance plan. This helps in reducing the tax liability. The amount which is received from a term insurance plan after the death of a policyholder is also entitled to tax exemption under section 10(10D) of the Income Tax Act, 1961.

8. How safe is investing in ULIP? Are there assured returns in a ULIP?

Unit Linked Insurance Plan (ULIP) is a mix of insurance along with investment. However, the returns are never guaranteed in ULIP. Hence, the returns of your investment will largely depend on the market conditions and performance of various funds.

9. How do I get my policy related queries resolved?

For all your scheme/policy related queries, you can check out the following details:-

  • Buy Policy Online: 1800-419-0808
  • For Policy Servicing: 1800-419-8228
  • Go to Write to us section at the official site- https://www[dot]exidelife[dot]in/customer-service/complaints-and-feedback/write-to-us

10. What facilities are available for the NRIs in case they want to avail Exide Life Insurance policies?

Indians who have worked in the UK might have made some regular contributions from their income towards a pension fund. If they plan to move out of the UK, their pension funds can be transferred tax-free to pension schemes in India registered as QROPS.

11. I am an existing customer of Exide Life Insurance company. How can I check my policy status for Exide Life Insurance?

Follow the below mentioned steps to check the policy status of your Exide Life Insurance:

  • Go to the official website and login with your registered User ID and Password
  • Select the 'Customer Login' option
  • Enter your 'Username' and then select the 'Submit' option.
  • Next, enter your Password to login and access your existing policy status.

12. How can I renew my existing policy with Exide Life Insurance?

One has the option to renew their policy online or offline. To renew your insurance online, go to the renewal page on Exide Life Insurance's official website, input the relevant policy information such as your name and policy number, and then pay the premium to renew your coverage.

To renew your coverage via the offline approach, go to any Exide Life Insurance branch and make a premium payment.

What Our Customers Have to Say

Customer Review Image

Priya Sharma

Jaipur

December 14, 2022

PolicyX has a smooth service from booking policy to verification. Employees are very patient and have good knowledge and help you throughout the process. Had great experience dealing with them

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Somesh

Agra

December 9, 2022

I had many confusions regarding the term policies . But Policyx has handled it well, m happy that they are my wayfarer in this journey.

Customer Review Image

Prerna Kumari

Mumbai

July 11, 2022

Good company. Presents nice term insurance plans and flexible plans also. My husband has brought one for the family.

Customer Review Image

Priya Sangwan

Mumbai

July 11, 2022

IndiaFirst Term Insurance company ensures that your family s needs are looked after. One of the best companies offers a term plan per your needs.

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Priyanshi Deewan

Hyderabad

July 6, 2022

I recently received the claim amount of the policy that my husband had brought for us. I am glad that the company understands the needs of its customers and their families. Well done Canara HSB...

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Rishabh Kumar

Delhi

July 6, 2022

I bought a term plan with Canara HSBC for the protection of my family and have been satisfied with the benefits received. It is simple and easy to buy their plans.

Customer Review Image

Samarth Gaur

Chennai

July 6, 2022

I am very happy with the term plans offered by the Canara HSBC Life Insurance company. The plans offer comprehensive coverage and I am sure will support my family after my demise.

Customer Review Image

Vipul Bhardwaj

Coimbatore

June 9, 2022

Bharti AXA is a good life insurance company, and I am sure if something ha[opens to me, the company will look after my family s needs.