Exide Life Insurance
  • Affordable premiums
  • Avail maturity benefits
  • Hassle free renewal process
Buy Policy in just 2 mins

Buy Policy in just 2 mins

Happy Customers

2 lakh + Happy Customers

Free Comparison

Free Comparison

Customized Term Insurance Plan for you.

Get upto 10% Online Discount*

Gender

Age

Exide Life Insurance: Overview

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 constantly emphasizes 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 ensures to look after your insurance needs by offering:

why-choose

  • A wide array of products

  • Multiple premium payment options

  • Tax benefits

  • Premium discounts for non-smokers

 

Key highlights of Exide Life Insurance

To get more insight into Exide Life Insurance Company's performance, take a look at the below key highlights that will help you to analyze the company based on its performance:

Solvency Ratio

Exide Life Insurance has a Solvency Ratio of 2.1 as per the IRDAI annual report 2022-23. The solvency ratio helps the prospective policyholder assess the ability of a company to meet its financial obligations. As of now, IRDAI mandates maintaining a solvency ratio of 1.50 for every insurer.

Features of Exide Life Insurance

There are various features to Exide Life Insurance. Let's understand each of them in detail:

  • Claim Settlement Ratio - The ratio measures 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 99.09%.
  • Solvency Ratio - Exide Life offers cost-effective plans with affordable premiums.
  • Annual Premiums - As per the IRDAI report 2022-23, Exide Life Insurance recorded an annual premium of Rs. 2,920.58 crores.
  • Operating Network - Exide Life Insurance plans offer various coverage options, giving you the freedom to select a plan that meets your needs.

Benefits of Exide Life Insurance Plans

There are multiple benefits of Exide Life Insurance Plans. Read below to understand the plethora of advantages provided by the insurer.

A wide array of product

The company offers a wide range of plans 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, of 1961.

Extensive customer service

Exide Life Insurance has customer satisfaction as its prime endeavor. 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.

Tired of Pushy Sales? Get Insurance, Your Way Tired of Pushy Sales? Get Insurance, Your Way

Rider Benefits You Can Avail With Exide Life Insurance Plans

Here are the rider options you can avail with Exide Life Insurance Plans to enhance your coverage:

Maternity Benefit Rider

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.

Maternity Benefit Rider

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.

Maternity Benefit Rider

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.

Documents Required to Purchase Exide Life Insurance Policy

Here is the list of documents required to buy Exide Life Insurance:

  • Regular Smoking
    Photo ID Proof
  • Your Occupation
    Age Proof
  • Pre-Existing Diseases
    Address Proof
  • Your Age
    Medical Records
  • Your Gender
    Income Proof
Photo ID Proof

Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.

How to Buy Exide Life Insurance Plans?

Exide Life Insurance allows you to buy life insurance plans via two platforms. You can either buy the plan online from the official website of the company or through third-party intermediaries like agents, brokers, etc. Given below is a detailed explanation of both these types of buying processes.

Life Insurance
  • Step 1

    Fill out the form given at the top of this page with the necessary details.

  • Step 2

    Select your income and city. Click on 'Proceed'.

  • Step 3

    Update your education and occupation details.

  • Step 4

    Choose your preferred plan and click on 'Buy this plan'.

  • Step 5

    Select the policy term, premium period, and riders (if required), and then proceed to make the payment. Once the payment is made, you will get a payment confirmation at your registered email address.

Life Insurance
  • Step 1

    Visit the Exide Life Insurance Company official website and scroll down to the end of the page.

  • Step 2

    Click on the "Buy Online" tab under Popular Links.

  • Step 3

    Click on the tab 'Know More' under the types of plans.

  • Step 4

    Click on the tab 'Calculate' at the top right corner of the page.

  • Step 5

    Fill in the required details, and click on the tab 'Calculate'. Once the payment is made, you will get a payment confirmation at your registered email address.

Why Choose PolicyX.com?

Don't just take our word for it - check out what our happy customers say about us!

All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.

Ravindra Singh

I highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.

Priti varshney

I'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.

Nisha Mary

I bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.

Ajay Shah

PolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.

Vijay Rathod

I purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.

Uma Mahajan

How to File Exide Life Insurance Claims?

Every claimant/nominee is assigned a dedicated Claims Relationship Officer who helps through the entire process. The life insurance claim settlement process at Exide Life Insurance involves the following three steps:

Online Process

Your Occupation
1

Claim Intimation

Inform the company about the incident via various channels-either by writing an email to Exide Life at claims@exidelife.com, calling the toll-free number (1800-103-7766), filling out the online claim form on its website, or visiting the nearest branch. A claim reference number/intimation number will be provided to you upon successful registration of the claim.

Your Occupation
2

Document Submission

You have to submit the necessary documents requested by the insurer to process the claim.

In case of natural death: death claim form, death certificate, original policy documents, claimant's identity & residence proof, medical records, and Account details of the nominee.

In case of an accidental death: the same documents with two additional ones: FIR and post-mortem report.

Your Occupation
3

Claim Settlement

Once Exide Life Insurance receives your claims they will verify all the details. Moreover, they can ask you for any additional documents if required. Exide Life Insurance will send you a claim reference number after verifying the submitted documents.

Offline Process

Exide Life Insurance claims settlement procedure can be reported by visiting the local Exide Life Insurance branch office. For the details of Exide Life Insurance branches, you can visit their website and locate the nearest branch. You have to submit the essential documents at the branch so that your claim can be processed.

Your Occupation

Exclusions of Exide Life Insurance Plans

  • Death due to a pandemic such as COVID-19 or ebola will not covered by the company.
  • Death, due to indulging in any type of adventure sports.
  • Death due to consumption of any type of drugs and alcohol.
  • Death due to any pre-existing disease that isn't mentioned during the start of the policy.
  • If a policyholder commits suicide during the first 12 months after obtaining the insurance, the nominee receives no death benefit. They receive just the premiums paid up to the date of the incident or the policy's surrender value, whichever is greater.If a policyholder commits suicide during the first 12 months after obtaining the insurance, the nominee receives no death payments. They receive just the premiums paid up to the date of the incident or the policy's surrender value, whichever is greater.

Conclusion

Exide Life Insurance now rebranded as Exide Life Insurance Company Ltd. after being acquired by HDFC Life Insurance in 2022, is a well-established player in the Indian insurance market. Known for offering a variety of life insurance products such as term plans, endowment plans, ULIPs (Unit Linked Insurance Plans), retirement solutions, and child plans, For more information related to Exide Life insurance. You can contact PolicyX.com at the toll-free number 1800-4200-269 or email us at helpdesk@policyx.com.

Life Insurance

More Queries?

If you have any more queries regarding Exide Life Insurance Plans, Renewals, or Claim Procedures, contact our insurance experts at:
1800-4200-269 now!

Explore more about Exide Life Insurance

Exide Life Insurance Claim Settlement Ratio

Exide Life Insurance Claim Settlement Ratio

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.

Life Insurance Companies

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

Share your Valuable Feedback

Rating Icon

4.6

Rated by 870 customers

Was the Information Helpful?

Select Your Rating

We would like to hear from you

Let us know about your experience or any feedback that might help us serve you better in future.

Reviews and Ratings
Himanshu Kumar

Written By: Naval Goel

Naval Goel is the Founder and CEO of PolicyX.com (IRDA- Approved Insurance Comparison Website). He is a CFA charter holder (USA) and FRM (GARP). He holds an MBA from IIFT, Delhi, and is also an Associate from the Insurance Institute of India. Naval is an avid investor and entrepreneur who has a deep understanding of the Indian equity market and insurance sector. He has been investing for more than 10 years now and is a CFA charter holder.

You May Also Know About:

Term Insurance Life Insurance Life Insurance Companies Child Plans Investment Plans Pension Plans ULIP Plans