Exide Life Term Insurance: Compare Plans & Reviews | PolicyX
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Exide Term Insurance

Exide Life, an established insurance company, commenced operations in 2001-02 and is headquartered in Bangalore.

99.68%
Claim settlement ratio
2,920.58 Cr
Annual Premium
1.94x
Solvency ratio
🛡️ IRDAI Approved
⭐ 4.6/5 · 930 reviews
✅ 99.68% claim settlement ratio
📊 1.94x solvency ratio
🌐 100+ pan-India

What you get with Exide Term Insurance

The headline features and policy mechanics, at a glance.

Annual Premium 2,920.58 Cr

Affordable premium options starting from entry-level to comprehensive whole-life protection.

99.68% claim settlement ratio

Industry-leading approval rate on eligible term insurance claims in the most recent fiscal year.

1.94x solvency ratio

Well above IRDAI's 1.5× floor — strong indicator of long-term claim-paying ability.

100+ pan-India presence

Branch offices and claim service centres across India for easy policy servicing.

Written by Himanshu Kumar
Reviewed by Raj Kumar
Published: 21 Oct 2024
Updated: 27 Jul 2026
Expert Verified
IRDAI Licensed

Exide Life Term Insurance Plans

Exide Life Insurance offers multiple term insurance plans designed to provide financial protection and long-term security for your family. With five term plans available, it focuses on affordable premiums, high life cover, and flexible policy options. These term plans offer financial assistance to the beneficiary in the absence of the insured, along with features like tax benefits, additional rider options, affordable premiums, and wide coverage.

Key Features of Exide Life Term Insurance Plans

  • Long-term cover
  • Return of premium
  • Enhanced protection
  • Affordable premiums
  • Tax benefits
  • Flexible Premium Payment Term (PPT)

Return of Premiums

Policyholders can avail up to 150% of the paid premiums back upon surviving maturity.

Death Benefit

The plans offer multiple options in death benefit payouts. Buyers can choose the best one for their families depending on their potential needs and current financial situation.

Long Term Cover

Policyholders can remain protected for the entire duration of the policy tenure and even choose to extend coverage with term insurance offered by Exide Life.

Tax Benefits

Exide Term Insurance offers tax benefits under Section 80C of the Income Tax Act, 1961 for up to ₹1.5 lakhs of the total premiums paid in the same financial year.

Eligibility Criteria for Exide Term Insurance Plans

To purchase an Exide term insurance plan, certain eligibility criteria must be met. Let's understand them in detail.

Age

A person between the ages of 18 and 65 is eligible to apply for a term life insurance plan. The policyholder's age is a key factor in the term insurance plan's premium.

Health Condition

Since an Exide term insurance plan insures the policyholder's life, most insurance providers require a policyholder to undergo a health examination to determine their current health condition and the inherent risks for the insurer. Be completely honest about your health condition and medical history to avoid issues during claim settlement.

Income

An Exide term insurance plan has no specified minimum income requirement. However, the insurer might ask for your bank statement copies and salary slips to determine the coverage on your term plan.

Smoking Habits

If you smoke or have been a smoker in the past, you must disclose this information to the insurer, as smokers are exposed to severe health hazards like lung cancer.

Citizenship

Indian citizens can buy an Exide term insurance plan in India in their name. NRIs or PIOs can also avail the benefits of a term insurance plan in India.

Additional Benefits Offered By Exide Term Plans

Exide Life Term Insurance Plans offer various additional benefits to policyholders.

  • Return of Premiums

    Policyholders can avail up to 150% of the paid premiums back as a death benefit payout or upon surviving maturity.

  • Death Benefit

    The plans offer multiple options in death benefit payouts. Buyers can choose the best one for their families depending on their potential needs and current financial situation.

  • Longer-term Cover

    Exide Term Plans provide extended coverage options, allowing policyholders to remain protected for a longer duration, ensuring continued financial security.

  • Whole Life Coverage

    Exide term plans offer whole life coverage up to the age of 99 years.

  • Higher Sum Assured

    Each Term Plan of Exide Life Insurance offers a higher sum assured amount, ranging from ₹5 Lakh to no limit.

Types of Exide Life Term Plans

There are various Exide Life Term Plans based on their features, policy tenure, benefits, etc. You can choose the one that best suits your requirements.

Basic Term Plan

Plan Name: Exide Life Smart Term Pro

This Plan offers comprehensive coverage including death benefit as well as maturity benefit to the policyholder.

Riders You Can Avail With Exide Term Insurance Plans

Name of the Riders Benefits
Exide Life Accidental Death, Disability and Dismemberment Rider Under this rider, upon the unfortunate event of disability or dismemberment to the life insured, a lump sum payout will be given to the nominee.
Exide Life Critical Illness Rider Under Exide Life Critical Illness rider, a lump sum equal to the rider sum assured will be payable to the nominee upon diagnosis of a critical illness during the policy term.

Documents Required to Buy Exide Term Insurance

Here are the documents required to buy Exide Term Insurance:

  • Photo ID Proof

    Photo ID Proof (either of one): Passport, Aadhaar card, PAN card, Driving license.

  • Age Proof

    Age Proof (either of one): Passport, Aadhaar card, PAN card, Driving license.

  • Address Proof

    Address Proof (either of one): Utility bill, passport, voter ID, ration card.

  • Medical Records

    Medical Records of the policyholder if requested.

  • Income Proof

    Income Proof (either of one): Bank statement, last three months' salary slips (if you are salaried).

How to Calculate Premiums

  1. Visit the official website of Exide Life Insurance Company.

  2. Click on 'Buy Term Plan' on the navigation bar and select 'Term Insurance Plans'.

  3. Click on the 'Buy Now' button and fill in the required details.

  4. Tap on 'Next' and select a plan as per your requirements.

  5. Select the cover option you want and make your payment.

How to File an Exide Life Term Insurance Plan Claim

Exide Life Insurance offers a simple and hassle-free process for settling claims. You can easily file your claim by submitting the relevant documents both online and offline. To file a claim for Exide Term Plans, follow the steps below.

Online Process

  1. Claim Reporting

    Inform the company about the incident via any of these channels: by writing an email at [email protected], calling the toll-free number (1860 209 7272), filling out the online claim form on its website, or visiting the nearest branch.

  2. Claim Review

    Exide Life's customer staff will review your claim form and assist you at every step. They will then evaluate your claim and notify you if any documents are still pending.

  3. Claim Approval and Settlement

    After receiving all the documents and claim forms, the company will verify the details as per their norms. Upon successful completion, the claim will be settled, and the amount will be transferred to the nominee's bank account. This will be communicated to him/her over a call or an email.

Offline Process

Exide Term Plans claim procedure can be reported by visiting the local branch office. For more details about Exide Life Insurance branches, you can visit a nearby branch office or the official website. You must submit the essential documents at the branch so that your claim can be processed.

How to Port Your Policy

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

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

  3. Update your education and occupation details.

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

  5. Select the policy term, premium period, and riders (if required), and then proceed to make the payment.

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

Frequently asked questions

The 11 most-asked questions about Exide Term Insurance, answered.

The thumb rule for deciding the cover of your Term Plan is that it should be at least 10 times your annual income. For example, a person earning Rs. 5 lakh annually must have a term policy of about ₹50 lakh for adequate support to his family after his death.
You can enjoy tax benefit of up to Rs. 1.5 lakh from your taxable income for paying the premium of your Term Insurance plans, thereby reducing your tax liability. The proceeds received from a Term Insurance plan after the demise of policy holder is also tax exempt under section 10(10D).
Under the ’Extended Term Cover’ policyholders can extend their policy term by an additional 5 or 10 years.
It is absolutely safe to buy term life insurance online since all your details are kept confidential and your premiums are paid through secured payment gateways. Online Term Plans are affordable and easy to buy. So, go ahead and buy an online Term Plan, worry-free.
Under the Exide Life Term with Return of Premium Plan, at the end of the policy term, you will get an amount equal to 100% of the total Premiums paid during the policy term.
With the Exide Life Saral Jeevan Bima policy, a waiting period of 45 days from the date of commencement of risk is applicable. The policy only covers death due to an accident during this period. In case of death other than due to an accident during the waiting period, the Sum Assured shall not be paid. Instead, an amount equal to 100% of all premiums received is paid to the beneficiaries.
The riders that can be added to an Exide Term Policy are: Exide Life Term Rider Exide Life Critical Illness Rider Exide Life Accidental Death, Disability and Dismemberment Rider
You can check the policy status of Exide Term Insurance by simply login into the MY LIFE tab with your policy number and DOB.
You can cancel your Exide Life Term Plan by visiting the nearest branch of Exide Life Insurance with your policy documents and duly filled surrender form. The refund amount will be directly transferred to your bank within 7 business days after the documents have been successfully validated.
Yes, it is compulsory for all the Exide term plans apart from Exide Term Insurance with return of premium does not require medical check-up.
Yes, non-smokers will get discounts on premiums of Exide Term Insurance.

Customer satisfaction

Aggregate ratings from 930 verified PolicyX customers who bought a Exide Term Insurance plan.

4.6
out of 5
930 reviews
5 star
60%
4 star
25%
3 star
10%
2 star
4%
1 star
1%

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