Exide LifeTerm Insurance
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.

Enter Your Name

Mobile Number


Exide Term Insurance

The Exide Life Insurance Company was established in the year 2001-02. It is fully owned by Exide Industries Limited and has a headquarter in Bengaluru. The company has achieved a total premium income of over Rs. 3,325 crores in the year 2020-21. The company has more than 40,000 + advisors who are operating from 200 company offices across PAN India. Exide Term Insurance provides a variety of insurance products, including term insurance plans. It offers 6 term insurance policies for its consumers such as Exide Life Smart Term Pro, Exide Life Smart Term Edge, Exide Life Term with Return of Premium Plan, Exide Life Elite Term Insurance Plan, Exide Life Saral Jeevan Bima, Exide Life Term Rider.

Features of Exide Life's Term Plans

Return of Premiums

Policyholders can avail upto 150% of the paid premiums back as 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

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.

Improved Protection

Each Term Plan comes with a host of riders against death, disability and / or dismemberment that users can avail for enhanced protection.

Benefits of buying Exide Life's Term Plans

Exide Term Insurance provides comprehensive protection cover for the future of your family. Below mentioned are some of the benefits of term insurance offered by Exide Life Insurance Company:


Flexibility in premium payment


Lump-sum payout


Income replacement


100% of the premiums returned


Discounted rates for females


Long-term coverage options

Claim Settlement Ratio of Exide Life

One of the most adept ways of picking the right Life Insurance provider is to run a background check of its performance over the years. Claim Settlement Ratio is one of the most important parameters for the same. The number acts as an essential yardstick to measure the reliability of a provider. Exide Term Insurance offers a simple and user-friendly claims process that allows nominees or claimants to file their insurance claims online or offline, depending on their preference. As of FY 2019-20, Exide Life has a claim settlement ratio of 98.15%.

The following graph illustrates the CSR of Top Insurance Providers in India.

Exide Life Insurance and other Top Life Insurance Companies (Based on Claim Settlement Ratio, FY 2019-20)

Exide Life Insurance and other Top Life Insurance Companies

Exide Life Term Plans in India

Exide Life provides various Term Insurance plans in the country for its customers. Please refer to the table below for all the Term Plans offered by the company.

S.No.Names of PlansWho should buy it?
1Exide Life Saral Jeevan BimaThose who want sufficient cover at affordable premium rates should consider buying this plan.
2Exide Life Elite Term Insurance PlanIndividuals who are looking to ensure a regular source of income for their families should find it suitable.
Non-smokers and females should check this plan out because they can enjoy cover at low costs.
3Exide Life Smart Term ProThe plan can be bought by people who are particularly averse to risks and want the premiums back.
4Exide Life Smart Term EdgeIndividuals who are looking for flexibility in plan options will find this plan suitable.
5Exide Life Term with Return of Premium PlanThose who wish to safeguard their investments in the event that they survive the policy tenure are ideal buyers.

Overview of Plans

  1. Exide Life Saral Jeevan Bima

    It is a pure risk premium Life Insurance Plan that allows you to protect your family against any untoward financial difficulties in your absence.

    Key Features

    • Life cover for up to 40 years
    • Nominee receives Death Benefit as a lump sum amount
    • Flexibility to choose from Single, Limited, and Regular premium payment
    • Waiting period of 45 days starting from the date of commencement of the policy

    Eligibility Criteria

    Entry AgeMinimum: 18 years, Maximum: 65 years
    Maximum Age at Maturity70 years
    Policy TermSingle Pay: 5-40 years, Regular Pay: 5-40 years, Limited Pay: 5-40 years
    Premium Payment OptionSingle Pay, Regular Pay, Limited Pay (5/10 years)
    Premium Payment ModeYearly, Half-yearly, Monthly
    Sum AssuredMinimum: Rs. 5,00,000, Maximum: Rs. 25,00,000
  2. Exide Life Elite Term Insurance Plan

    This is a non-linked, non-participating, pure Term Insurance plan. It provides a large Sum Assured at a reasonable premium amount and also rewards the Insured for leading a healthy life during the chosen tenure.

    Key Features

    • Lower premium rates for females, non-smokers, and high Sum Assured
    • Choice of Death Benefit payout, viz. Lump-sum payout, Lump sum with Family Income payout, and Family Income payout
    • Option to increase policy term beyond the maximum limit by 5-10 years

    Eligibility Criteria

    Entry AgeMinimum: 21 years, Maximum: 60 years
    Maximum Age at Maturity70 years (Age last birthday)
    * 80 years (If chosen to extend term)
    Policy Term (PT)Minimum: 10 years, Maximum: 40 years , Extended Term: Maximum PT + 5 or 10 years
    * No premium is payable during the extended term.
    Premium Payment OptionSingle Pay, Regular Pay: Same as Policy Term
    Sum AssuredMinimum: Rs. 50,00,000, Maximum: No limit
  3. Exide Life Smart Term Pro

    It is an individual, non-participating, non-linked Term Insurance Plan that covers your life for the entire policy term. In case you survive, you are liable to receive all your premiums back.

    Key Features

    • Option to purchase the plan online
    • Flexibility to choose premium payment term from 5, 8, 10, or 12 years
    • Three options in death benefit payout, viz. Lump-sum payout, Lump sum with Family Income payout, and Family Income payout
    • Increased protection with riders at minimal charges
    • Protection till the age of 80

    Eligibility Criteria

    Age at EntryMinimum: 18 years, Maximum: 60 years
    Maximum Age at Maturity80 years
    Policy TermMinimum: 15 years, Maximum: 40 years
    Premium Payment Term5 Pay8 Pay10 Pay12 Pay
    Minimum Sum AssuredRs. 50,00,000Rs. 15,00,000Rs. 15,00,000Rs. 15,00,000
  4. Exide Life Smart Term Edge

    The plan offers significant cover and helps the policyholders to create a strong financial base for their families in case of any eventuality resulting in the death of the policyholder.

    Key Features

    • Receive up to 150% of the premiums back
    • Available in different variants, viz. Classic, Step-up, and Comprehensive
    • Increase Sum Assured at death by paying 'extra protection' fees

    Eligibility Criteria

    Plan OptionClassicStep-UpComprehensive
    Minimum Age at Entry18 years18 years18 years
    Maximum Age at Entry60 years58 years60 years
    Maximum Age at Maturity75 years70 years75 years
    Policy TermMinimum: 12 years, Maximum: 30 years
    Premium Payment TermSame as Policy Term
    Minimum Sum AssuredRs. 5,00,000Rs. 10,00,000Rs. 10,00,000
  5. Exide Life Term with Return of Premium Plan

    Exide Life Term with Return of Premium Plan comes out with a Life Insurance cover at affordable premiums and also returns the premiums paid at the end of the policy tenure.

    Key Features

    • Life insurance Cover for the entire policy tenure
    • No medical tests are required while buying the policy
    • In case of the unfortunate demise of the Insured, an amount equal to the Sum Assured on death is paid to the nominee
    • Return of Premium on Completion of Policy Term
    • Flexibility to choose to pay a premium for 5 years (Limited Premium) or for the entire policy tenure

    Eligibility Criteria

    Entry AgeMinimum: 18 years, Maximum: 50 years
    Policy TermLimited premium: 10 to 30 years, Regular Premium: 12 to 30 years
    Premium Payment ModeAnnual
    Maximum Policy Term30 years * subject to maximum maturity age of 65 years
    Maximum Sum AssuredRs. 25,00,000

Claim Process at Exide Life

Exide Life Insurance Company offers a simple process to make sure that your claim is settled with ease and minimal documentation.


Move to 'Customer Service'. 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 will receive an acknowledgement for the same. You can use the policy number to clear all your queries regarding the claim until the declaration of decision.

Amount Transfer

Your documents will be thoroughly perused by the claims team at Exide Life post submission. If everything is found in order, your request is accepted and the money will be transferred to the claimant's account.

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

What Are The Documents Required For Claim Settlement?

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)

How To Buy Exide Life Term Insurance Plans?

You can buy Exide Term Insurance plans through the official website of the company.

  • Visit the official website of the 'Exide Life Insurance Company'.
  • Click on the tab 'I am interested in'.
  • Choose the option 'Buying Term Insurance Plan'.
  • Provide the desired sum assured amount and click on the tab 'Continue'.
  • Submit the required details and click on the tab 'Continue'.
  • Provide some more information and click on the tab 'Get a quote'.
  • Check your premium details and click on the tab 'Pay Now'.
  • Provide a few more details such as your income, qualification, city and Pan Card No.
  • Click on 'No' (if you don't have a medical condition) or on 'Yes' (if you do carry a medical issue).
  • Make the payment.
  • The company will share the policy documents on your registered mail Id.

Insurance Calculator

Exide Term Insurance: FAQs

1. How much cover should I take in a Term Plan?

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.

2. Is Term Insurance tax free?

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).

3. What is 'Extended Term Cover' under Exide Life Elite Term Insurance Plan?

Under the 'Extended Term Cover' policyholders can extend their policy term by an additional 5 or 10 years.

4. Is it safe to buy a Term Plan online?

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.

5. What percent of the premiums do I earn back on the completion of the policy term?

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.

6. What are the terms of the Waiting Period clause under the Exide Life Saral Jeevan Bima?

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.

7. What kind of riders can I add to my base term policy?

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

8. How can I check the policy status of my Exide Life Term plan?

You can check the policy status of Exide Term Insurance by simply login into the MY LIFE tab with your policy number and DOB.

9. How can I cancel my Exide Life Insurance Term Plan?

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.

10. Is medical check-up compulsory in the Exide Life Insurance term plan?

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.

11. Does non-smokers get any premium benefits under the Exide Term plans?

Yes, non-smokers will get discounts on premiums of Exide Term Insurance.

Find Out What the Customers Are Saying

(Showing latest 5 reviews only)

- 5/5 (7 Total Rating)

February 24, 2022



My husband died due to covid and we need money as he was the only earning member in our family for school fees of my children. I shared my problem with them and they paid my money before time.

November 12, 2021

Veena Gehlot


HI, my name is Veena Gehlot. I am a widow and have 2 children. After my husband s death, Life was very difficult both emotionally and financially. Thanks to my husband s Exide Term Insurance policy, I am able to fulfil my children s education. Thankyou Exide Life Insurance.

September 30, 2021

Maninder Singh


Good work guys. Exide Life Insurance is indeed a superb company. It offers a wide array of insurance products and looks after the investment needs of its customers.

September 30, 2021

Sohail Quresi


Super Company. Good customer care with team experience. I happy that I buy this plan for my wife and childrens. Amazing.

September 27, 2021

Dushyant Saini


my budget was low but the agent that i worked with managed to find me solutions ...they were very patient and actually lstened to what my concerns

Last updated on September, 2021

Request A Callback