Exide Life Insurance Company Limited is an established and profitable life insurance company in India. The company commenced its operations in 2001-02 and has headquartered in Bengaluru. The company is 100% owned by Exide Industries Limited. It manages assets of over Rs.15,795 Crore. The company distributes its products through multi-channels such as bancassurance, agency, corporate agency, direct channels & broking.
Total number of customers | Over 15 lakhs |
Claim settlement ratio | 98.15% |
No.of advisors | 45,000+ |
**Last Updated on 04-12-2020
Exide Life Protection Plans |
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Exide Life Health Insurance Plans | Exide Life Sanjeevani |
Exide Life Savings and Investment |
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Exide Life Retirement Plans | Exide Life New Immediate Annuity with Return of Purchase Price |
Group Insurance Plan |
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**Last Updated on 04-12-2020
Protection plans are traditional life insurance policies that provide the required financial assistance to your family in case of an eventuality. Such plans help you to secure your family’s future. Below is the list of all such protection plans.
Exide Life Term with Return of Premium Plan is an affordable life insurance plan that offers a life insurance cover and returns on the paid premium at the end of the policy tenure.
Key Features
Eligibility:
Entry Age | 18 Years to 50 Years | |
Policy Term | Limited Premium | 10 to 30 |
Regular Premium | 12 to 30 | |
Minimum Sum Assured | Limited Premium | 10 Lakhs |
Regular Premium | 5 Lakhs | |
Maximum Sum Assured | Rs 25 Lakhs | |
Premium Payment Term | Annual |
**Last Updated on 04-12-2020
A unique term insurance plan that not only offers a large sum assured at a reasonable premium amount but also rewards you for leading a healthy life during the policy tenure. Under this plan, you can benefit from lower premiums if you are leading a healthier lifestyle. You will have to undergo a medical examination to purchase this plan.
Key Features:
Eligibility:
Entry Age | Minimum: 21 Years Maximum: 60 Years |
Maximum Maturity Age | 70 years (As per last birthday) 80 years age (If extended-term opted for |
Policy Term |
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Minimum Sum Assured | ₹50 Lakhs (online mode) ₹2 Crore (offline mode) |
Maximum Sum Assured | No Limit ( Subject to underwriting guidelines) |
**Last Updated on 04-12-2020
Exide Life Smart Term Plus is a pure term insurance plan that provides a comprehensive life insurance cover for the entire policy tenure. It also offers 100% returns of the total paid premium on completion of the policy tenure.
Key Features:
Eligibility:
Parameters | Premium Paying Term | |||
5 Pay | 8 Pay | 10 Pay | 12 Pay | |
Entry Age (years) | 18 to 60 | |||
Policy Term (years) | 15 to 40 | |||
Minimum Sum Assured (INR) | 50 lacs | 15 lacs | 15 lacs | 15 lacs |
Maximum Maturity Age | 80 years | |||
Premium Paying Mode | Monthly, Half-yearly and Annually |
**Last Updated on 04-12-2020
Exide Life Smart Term Plan is a unique insurance plan that not only offers a comprehensive protection cover but also provides returns of the total paid premium at the end of the policy term.
Key Features:
Eligibility:
Product Features | Classic | Step-up | Comprehensive | |
Age at Entry (as on last birthday) | Single Pay | 18 - 65 Years | Not Available | Not Available |
5 Pay | 18 - 60 Years | |||
Regular Pay | 18 - 60 Years | 18 - 58 Years | 18 to 60 Years | |
Policy Term | Single Pay | 10 - 30 Years | Not Available | Not Available |
5 Pay | 10 - 30 Years | |||
Regular Pay | 12 - 30 Years | 12 to 30 Years | ||
Minimum Sum Assured | Single Pay | ₹5 Lakhs | Not Available | Not Available |
5 Pay | ₹10 Lakhs | |||
Regular Pay | ₹5 Lakhs | ₹10 Lakhs | ||
Premium Paying Mode | Monthly, Half Yearly and Annually |
**Last Updated on 04-12-2020
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 them below-
Exide Life Sanjeevani is the first unique health insurance plan that offers comprehensive cover against heart and cancer-related conditions.
Key Features:
Eligibility:
Min/Max Entry Age(age as on last birthday) | 18/65 years |
Maturity Age | 70 years |
Policy Term | Minimum - 5 years Maximum - 35 years (subject to maturity age of 70 years) |
Premium Paying Term (PPT) | Regular |
Minimum/Maximum Basic Sum Assured | Minimum : ₹5,00,000 Maximum : ₹25,00,000 |
Premium Paying frequency | Annual |
**Last Updated on 04-12-2020
Savings and investment plans are financial tools that help you in securing your future along with wealth creation opportunities. This segment is divided into multiple categories that include child plans, investment plans, money back plans and much more. Details are mentioned below-
Exide Life New Creating Life Plus is a new class of child insurance plan. Under the same, you will receive two plan options to choose from:
Key Features:
Eligibility:
Parameters | Exide Life New Creating Life Insurance Plus | Exide Life New Creating Life Insurance Regular Pay |
Minimum / Maximum Age at Entry (Parent) | 18 Years - 45 Years | |
Maximum Age at Maturity (Parent) | 60 Years | |
Minimum / Maximum Age at Entry (Child) | 0 Years - 17 Years | |
Premium Paying Term (PPT) | 5, 8 or 10 Years | 15 - 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 |
**Last Updated on 04-12-2020
Exide Life Saral Jeevan is a life insurance cum savings plan that assists you to save your hard-earned money and get guaranteed sum assured at the end of the policy tenure.
Key Features:
Eligibility:
Premium Payment Term (PPT) | 6/8/10 years | |
Policy Term | Lump sum Variant | Income Variant |
6 PPT: 12 years | 6 PPT: 6 years | |
8 PPT: 12/16 years | 8 PPT: 8 years | |
10 PPT: 15/20 years | 10 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 Age | 65 years | |
Maximum Age at Entry (as on last birthday) | 50 years | |
Premium Payment Mode | Annual,Half Yearly, Monthly |
**Last Updated on 04-12-2020
Exide Life Saral Bachat is a non-linked and non-participating life cum savings insurance plan that offers a guaranteed sum assured on maturity and life insurance cover during the policy tenure.
Key Features:
Eligibility:
Premium Payment Term (PPT) | 6/8/10 years | |
Policy Term | Lump sum Variant | Income Variant |
6 PPT: 12 years | 6 PPT: 6 years | |
8 PPT: 12/16 years | 8 PPT: 8 years | |
10 PPT: 15/20 years | 10 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 Age | 65 years | |
Maximum Age at Entry (as on last birthday) | 50 years | |
Premium Payment Mode | Annual,Half Yearly, Monthly |
**Last Updated on 04-12-2020
Exide Life My Assured Income Plan is a savings life insurance plan that offers assured regular income that helps you to achieve your goals.
Key Features:
Eligibility:
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) | PPT | Uniform Income Benefit | Enhanced Income Benefit/ Increasing Income Benefit |
5 years | 13 years (14 years for Monthly Income Payout) | 8 years (9 years for Monthly Income Payout) | |
8 years | 10 years (11 years for Monthly Income Payout) | 2 years (3 years for Monthly Income Payout) | |
Maximum Age at Entry (as on last birthday) | PPT | Age at Entry | |
5 years | 60 years | ||
8 years | 54 years |
**Last Updated on 04-12-2020
Exide Life Income Advantage Plan is a savings cum protection plan that provides a regular income along with many other benefits. The plan not only assists you to deal with the growing needs of your family but also makes sure they have a happy and secure future.
Key Features:
Eligibility:
Parameters | Policy Term (Years) | ||
16 | 24 | 30 | |
Premium Payment Term (Years) | 8 | 12 | 15 |
Minimum Age at Entry (as on last b’day) | Min.: 10 years Max.: 55 Years | Min.: 6 Years Max.: 55 Years | Min.: 3 Years Max.: 50 Years |
Minimum Age at Maturity | 26 Years | 30 Years | 33 Years |
Maximum Age at Maturity | 71 Years | 79 Years | 80 Years |
Minimum Premium (₹) | Annual : ₹30,000 Monthly : ₹2,724 Half-Yearly : ₹15,470 | Annual : ₹18,000 Monthly : ₹1,635 Half-Yearly : ₹9,300 | Annual : ₹12,000 Monthly : ₹1,090 Half-Yearly : ₹6,190 |
Maximum Premium (₹) | No Limit (subject to board approved underwriting policy) | ||
Premium Payment Frequency | Annual, Half-Yearly, Monthly |
**Last Updated on 04-12-2020
Exide Life Secured Income Insurance Plans offers security to you and your family as long term benefits. It provides a regular income to your family if anything unfortunate happens. There are two options available under this category- Exide Life Secured Income Insurance Plus & Exide Life Secured Income Insurance RP
Key Features:
Eligibility:
Parameters | Exide Life Secured Income Insurance Plus | Exide Life Secured Income Insurance RP |
Minimum / Maximum Age at Entry | 0 Years - 50 Years | 0 Years - 55 Years |
Minimum / Maximum Age at Maturity | 18 Years - 70 Years | 18 Years - 70 Years |
Premium Paying Term (PPT) | 5, 8 or 10 Years | 15 - 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 (₹) | For PPT 5 Years : ₹50,000 p.a. For PPT 8 Years : ₹30,000 p.a. For PPT 10 Years : ₹25, 000 p.a. | ₹15,000 p.a. |
**Last Updated on 04-12-2020
Exide Life Guaranteed Income Insurance Plan offers a regular income that helps the insured to boost customers’ lifestyle. It also pays a lump sum amount on maturity and death benefits throughout the policy tenure.
Key Features:
Eligibility:
Policy Term | 16 Years | 20 Years | 24 Years | 30 Years |
Premium Payment Term | 8 Years | 10 Years | 12 Years | 15 Years |
Payout Term | 8 Years | 10 Years | 12 Years | 15 Years |
Minimum Age at Entry | 10 Years | 8 Years | 6 Years | 3 Years |
Maximum Age at Entry | 55 Years | 55 Years | 55 Years | 55 Years |
Minimum Annualized Premium | ₹24,000 | ₹18,000 | ₹12,000 | ₹12,000 |
Maximum Annualized Premium | No Limit | |||
Sum Assured | Minimum: ₹90,978 Maximum: No Limit | |||
Premium Payment Frequency | Monthly, Quarterly, Half-yearly & Annually |
**Last Updated on 04-12-2020
Exide Life Wealth Maxima is a unit-linked insurance plan that offers the dual benefit of life insurance cover and wealth creation opportunities. The plans offer higher financial protection to your family.
Key Features:
Eligibility:
Minimum Age at Entry | Maxima Invest : 0 Years Maxima Family & Maxima Child : 18 Years |
Maximum Age at Entry | Maxima Invest : 65 Years Maxima Family: 55 Years, Maxima Child : 50 Years |
Maximum Age at Maturity | Maxima Invest : 75 Years Maxima Family: 70 Years, Maxima Child : 65 Years |
Policy Term | 10, 15 to 20 Years |
Minimum Premium | Annual : ₹36,000 Semi Annual : ₹24,000 Monthly : ₹4,000 |
**Last Updated on 04-12-2020
Exide Life Assured Gain Plus is a traditional insurance-cum-investment plan that offers life insurance cover over the entire policy term. The plan pays a lump sum on survival until maturity that assists you to fulfil your financial goals.
Key Features:
Eligibility:
Minimum age at entry (Age as on last birthday) | 3 Years (15 Year Policy Term) 6 Years (12 Year Policy Term) 8 Years (10 Year Policy Term) |
Maximum age at entry (age as on last birthday) | 60 Years (Limited Premium Payment Term 5 Years) 65 Years (Single Premium) |
Minimum Maturity age | 18 years |
Maximum Maturity age | 75 Years (Limited Premium Payment Term 5 Years) 80 Years (Single Premium) |
Policy Term(s) | 10, 12 or 15 years |
Minimum Sum Assured on Maturity | Limited Premium Payment Term (5 years): ₹159,446 Single premium: ₹197,323 |
Premium Payment Mode | Annual / Semi Annual / Monthly/Single |
**Last Updated on 04-12-2020
Exide Life Wealth Builder is a single premium unit-linked insurance plan that provides the choice to pay the one-time lump sum amount along with the convenience to choose a life insurance cover of 10 times the single premium. The plan provides market-linked returns over a tenure of 5 to 10 years.
Key Features:
Eligibility:
Policy Term (Years) | 5 | 10 |
Minimum Age at Entry (Years) | 13 | 8 |
Maximum Age at Entry (Years) | 65 | |
Age at Maturity | Min 18 years - Max 75 years | |
Minimum Premium | ₹ 1,00,000 | |
Maximum Premium | No limit (subject to Board approved underwriting guidelines) |
**Last Updated on 04-12-2020
Exide Life Wealth Elite is a unit-linked insurance plan, and is designed for those investors who are looking for efficient wealth creation opportunities and higher financial protection for their loved ones.
Key Features:
Eligibility:
Minimum Entry Age | 0 Years | |
Maximum Entry Age | 65 Years (for standard lives) | |
Maximum Maturity Age | 75 Years | |
Policy Term | 10 to 20 Years | |
Premium Payment Frequency | Annual, Half-Yearly, Monthly | |
Minimum Premium | Annual : ₹2,00,000 Semi Annual : ₹100,000 Monthly : ₹20,000 | |
Minimum Sum Assured Maximum Sum Assured | For age up to 44 years Annualized Premium x 10 Annualized Premium x 20 | For age above 44 years Annualized premium x (7 only) Annualized premium x (10 only |
**Last Updated on 04-12-2020
Exide Life Secured Income Insurance Plus is a limited pay plan that provides life insurance cover not only in a lump sum but also offers regular income. At the time of maturity, you will receive a sum assured with a 10% guaranteed addition along with accrued bonuses.
Key Features:
Eligibility:
Minimum / Maximum Age at Entry | 0 Years - 50 Years |
Minimum / Maximum Age at Maturity | 18 Years - 70 Years |
Premium Paying Term (PPT) | 5, 8 or 10 Years |
Maximum Premium | No Limit (Subject to underwriting) |
Modes of Premium payment | Annual, Monthly |
**Last Updated on 04-12-2020
Exide Life Sampoorna Jeevan is a life insurance cum savings plan that covers you till age 75 or 100 years. The plan allows you to customize the payouts as per your changing financial needs.
Key Features:
Eligibility:
Parameters | Premium Payment Term (Years) | ||||||
Age at Entry | Minimum Age: 12 Years Maximum Age: 60 Years | ||||||
Maturity Age | 75-100 Years | ||||||
Minimum Premium (₹.) | Annual | 60,000 | 60,000 | 25,000 | 25,000 | 15,000 | |
Half- Yearly | 40,000 | 40,000 | 15,000 | 15,000 | 8,000 | ||
Monthly | 6,000 | 6,000 | 3,000 | 3,000 | 2,000 | ||
Maximum Premium (₹.) | No Limit (subject to Board approved underwriting policy) |
**Last Updated on 04-12-2020
The values may change as per chosen plan option
Exide Life New Fulfilling Life is a comprehensive insurance plan that will assist you to fulfil your goals and needs with the help of regular money-back options. It is a tax-free wealth and life insurance plan.
Key Features:
Eligibility:
Minimum / Maximum Entry Age | 15 to 50 years (For PPT 12,16 or 20 years) 15 to 46 years (For PPT 24 years) |
Maximum Premium Ceasing Age | 70 years |
Policy Term | 85 years minus age at entry |
Premium Paying Term (PPT) | 12, 16, 20 and 24 |
Modes of premium payment | Annual, Monthly |
**Last Updated on 04-12-2020
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-
Under this pension plan, you have to pay once and get pension at a pre-decided frequency (choice of yearly, quarterly, half yearly & monthly payout options) for life.
Key Features:
Eligibility:
Minimum Age at Entry (as on last birthday) | 0 years (for existing customers) 45 years (for customers other than existing customers) |
Maximum Age at Entry | 80 years |
Premium Payment Term | Single (one-time payment) |
Purchase Price | ₹1,000 per month- No Limit |
Annuity Payout Mode | Yearly, Half yearly, Quarterly, Monthly |
**Last Updated on 04-12-2020
The values may change may per chosen plan option
Group Insurance Plan is a life insurance protection cover designed specifically for groups of people. This insurance plan is ideal for associations, employers, societies, etc. Below is the list of Exide Life Group Insurance plans.
Exide Life Group Micro Term Insurance is a non-participating and non-linked Group Micro Insurance Plan that assists you to safeguard (financially) your loved ones. It is an effective plan that is available at affordable prices.
Key Features:
Eligibility:
Min/Max Age at Entry |
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Min/Max Maturity Age (age as on last birthday) |
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Policy Term |
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Premium Payment Frequency |
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Sum Assured | Minimum: ₹ 1,000 per member Maximum: ₹ 2,00,000 per member | ||||
Group Size | Minimum: 5 members |
**Last Updated on 04-12-2020
Exide Life Group Loan Suraksha is a single premium insurance plan that offers a financial cover against the outstanding loan amount in case of an unfortunate demise of the insured.
Key Features
Eligibility:
Minimum entry age | For Education Loans : 15 Years |
Maximum entry age | 74 years age last birthday |
Maximum cover cessation age | 76 years age last birthday |
Minimum Sum Assured | Housing Loans and Loans Against Property: ₹ 50,000 per member Other Loans*: ₹ 5,000 per member The Sum Assured on Death at inception cannot be lower than the loan amount sanctioned |
**Last Updated on 04-12-2020
Exide Life Group Gratuity Product is a plan that helps you to grow, save and accumulate funds. It also assists you to manage your employee gratuity liability in an efficient and flexible manner. Key Features:
Eligibility:
Minimum / Maximum Age at Entry | Minimum- 18 years Maximum- 79 Years |
Minimum / Maximum Maturity Age | Minimum- 19 years Maximum- 80 Years |
Minimum Policy Term | 1 Year |
Sum Assured (Rs.) | ₹1,000 per member |
Group Size | 10 members- No Limit |
Mode of Contribution | Annual, Half Yearly, Quarterly and Monthly |
**Last Updated on 04-12-2020
EDLI is an insurance cover for private sector salaried employees. Under this plan, the deceased employee’s insurance benefit will depend on the length of service and the PF balance in the account.
Key Features:
Eligibility:
Minimum / Maximum Age at Entry | 18 years - 79 years |
Maximum Maturity Age | 80 years |
Policy Term | 1 year renewable term |
Premium Payment Frequency | Annual |
Minimum / Maximum Sum Assured | ₹5,000 - ₹10,00,000 per member |
Minimum Group Size | 10 members |
Maximum Group Size | No Limit |
**Last Updated on 04-12-2020
Exide Life Term Rider is 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 is a protection cover that the insured can add to his/her traditional Exide Life Insurance Plans. It offers a lump sum benefit, where the life assured is diagnosed with any major illness that includes Cancer, Heart Attack, Paralysis, Kidney failure, Coma, etc.
Exide Life Group Illness Rider is an add-on cover that is designed to provide enhanced financial protection to employees in case they suffer from a terminal illness or critical illnesses during the policy tenure. It pays out a selective percentage of the rider sum assured on the diagnosis of the illness.
This rider offers enhanced coverage in case of accidental death, disability or dismemberment and can be attached to a traditional Exide Life Insurance Policy.
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Exide Life Insurance Company offers a simple process to make sure that your claim is settled with ease and minimal documentation. Below are the steps for the same.
Note- You can file the claim by visiting the company’s branch office.
Below is the list of documents that you need to submit to file a claim under Exide Life Insurance.
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.
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.
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.
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.
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.
For all your scheme/policy related queries, you can check out the following details:-
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.
Last updated on 04-12-2020