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Exide Term Insurance
Exide Term Insurance
Exide Life, an established insurance company, commenced operations in 2001-02 and is headquartered in Bangalore.
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.
2+ optional riders
Extend a base policy with add-on covers — critical illness, accidental death, waiver of premium and more.
100+ pan-India presence
Branch offices and claim service centres across India for easy policy servicing.
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.
What are the key features of this plan?
- Long-term cover
- Return of premium
- Enhanced protection
- Affordable Premiums
- Tax benefits
- Flexible Premium Payment Term (PPT)
Riders You Can Avail With Exide Term Insurance Plans
Enhance your term plan with optional add-on riders for broader protection.
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.
Benefits of Exide Term Insurance
Exide Term Insurance is one of the most trustworthy and reliable insurer partners. Here are the reasons why you should choose Exide Term Insurance Plans:
01
Return of Premiums
Policyholders can avail up to 150% of the paid premiums back upon surviving maturity.
02
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.
03
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.
04
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.
Documents required
For policy purchase and claim submission. Have these ready before you start.
- 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).
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: Plan Name: Exide Life Smart Term Pro
This Plan offers comprehensive coverage including death benefit as well as maturity benefit to the policyholder.
How to Buy a Exide Term Insurance Plan?
Step-by-step guides for the four key moments in your policy lifecycle. Click a tab to switch.
- Visit the PolicyX.com website or the Exide Term Insurance official website to compare and choose a suitable term plan.
- Enter your personal details such as name, date of birth, gender, annual income, and smoking status to get a customised quote.
- Compare plan options — choose your sum assured, policy term, premium payment term, and any optional riders.
- Fill in the proposal form with your contact details, nominee information, and medical history accurately.
- Upload the required documents: identity proof, address proof, income proof, and recent photographs.
- Pay the first premium online via net banking, UPI, debit/credit card, or cheque.
- Complete the medical examination if required (depends on your age and sum assured).
- Receive your policy document via email and registered post after underwriting approval.
- 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.
- 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.
- 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.
- 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.
- 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.
- Log in to the Exide Term Insurance customer portal or the PolicyX.com dashboard before your policy renewal date.
- Review your existing policy details — coverage, premium amount, and nominee information.
- Choose to continue with the same plan or upgrade your sum assured if eligible.
- Pay the renewal premium online via net banking, UPI, debit/credit card, or cheque.
- Download the renewed policy document from your registered email or the insurer portal.
- Visit the official website of Exide Life Insurance Company.
- Click on 'Buy Term Plan' on the navigation bar and select 'Term Insurance Plans'.
- Click on the 'Buy Now' button and fill in the required details.
- Tap on 'Next' and select a plan as per your requirements.
- Select the cover option you want and make your 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 SinghI 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 VarshneyI'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 MaryI 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 ShahPolicyX 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 RathodI 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 MahajanFrequently asked questions
The 11 most-asked questions about Exide Term Insurance, answered.
Customer satisfaction
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PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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