About Exide Life Insurance

Exide Life Insurance Company Limited was established in the year 2001-02 and is a 100% Indian-origin insurance company. The corporation is owned and regulated by Exide Industries and is attached to more than 200 company offices nationwide. As the insurance entity, the corporation is known as Exide Life Insurance Company Ltd and has over 15 lakhs customers across the country.

Exide Life Insurance is headquartered in Bengaluru and distributes its services and products via different channels including Agency, Corporate Agency & Broking, and Banc Assurance & Direct Channels. The brand is focussed on offering long-term financial protection & savings solutions. Exide Life Insurance reflects a uniformed and established product collection with a reliable and consistent performance.

Types of Plans Offered by Exide Life Insurance

The company deals in several insurance products, which include the following variants:

  1. Term Insurance Plans
  2. Child Plans
  3. Health Insurance
  4. Retirement & Pensions
  5. Investment Options

We will now look into detail of some of the best life insurance plans offered by Exide Life Insurance:

Exide Life Term Insurance Plans

Term insurance plans are traditional life coverage plans which means that there will be no savings or profits component offered with the plan. These are basic life insurance plans that make life insurance coverage more affordable compared to other options as it allows the policyholders to get a larger life cover at comparatively lower premium rates.

Plan Entry Age Policy/Rider Term Sum Assured Tax Benefit
Exide Life Term Insurance Plan

 

Minimum– 21 years

Maximum- 60 years

5 to 35 years Minimum- Rs 50 lacs (online)

Rs 2 Crores (offline)

 

Maximum- No Upper limit

u/s  80C and 80D of Income Tax act
Exide Life Term Insurance Plan with Returns of Premium

 

Minimum– 18 years

Maximum-65 years

12 to 30 years Minimum-Rs.10 lakhs

 

Maximum-No Upper Limit

u/s 10(10D), 80C and 80D of Income Tax act
Exide Life Term Insurance with Riders

 

Minimum- 18 years

Maximum– 60 years

5 years to 40 years Minimum- Rs. 50,000

 

Maximum- Lower of ₹50,00,000/- or Sum Assured of the Base policy

u/s 80C and 10(10D) of Income Tax act
Exide Life Critical Illness Insurance Rider

 

Minimum- 18 years

Maximum- 65 years

 

5 years to 40 years Minimum- Rs.50,000

 

Maximum-Lower of
₹25 lakhs or
Sum Assured of the base policy

u/s 80D and 10(10D) of Income Tax act
Exide Life Accidental Death Disability and Dismemberment Rider

 

Minimum- 18 years

Maximum- 65 years

 

Minimum: 10 years
Maximum: Till 75 age or outstanding PPT of base plan, whichever is earlier
Minimum: same as that of base policy

 

Maximum: Lower of
₹20 lakhs or
Sum Assured of the base policy

u/s 80C & 10(10D) of Income Tax act

Exide Life Insurance Child Plans

A child insurance plan is a blend of insurance as well as investment factor that ensure a safe & secure future for the children. The life cover amount will be given to the policyholders at the end of the policy term as a lump sum.

Not only this, but a child plan also provides flexible payouts at important milestones of the kids’ education. It’s always a good decision to shield your child’s future against incidents such as serious medical illnesses or even death.

Plan Entry Age Policy/Rider Term Sum Assured Tax Benefit
Exide Life Wealth Maxima – Maxima Child

 

Minimum– 18 years

Maximum- 50 years

10 to 20 years Till 44 years of age : Annual premium x 10
Above 44 years of age : Annual Premium x (7 or 10)
u/s 80C and 10 (10)D of Income Tax act
Exide Life New Creating Life Insurance Plans

 

Minimum– 18 years

Maximum-45 years

10 to 20 years Minimum- Rs 1,07,759

 

Maximum– NA

u/s 80C, 80D and 10(10D) of Income Tax act
Exide Life Mera Aashirvad- Child Insurance Plan

 

Minimum- 18 years

Maximum– 60 years

5 years to 40 years Minimum- Rs. 50,000

 

Maximum- Lower of ₹50,00,000/- or Sum Assured of the Base policy

u/s 80C and 10(10D) of Income Tax act

Exide Life Insurance Retirement Plans

A retirement plan offers savings and investment services that will provide income to the policyholder during her/his retirement period. It is often provided by organisations or the government for their employees.

Plan Entry Age Policy/Rider Term Premium Tax Benefit
Exide Life Golden Years Retirement Plan

 

Minimum– 18 years

Maximum- 65 years

5 to 42 years For PPT 5-9 years:

 

Minimum Annual premium: Rs 48,000

Minimum Monthly premium: Rs 24,000

 

For PPT 10-42 years:

 

Minimum Annual premium: Rs 4,000

 

Minimum Monthly premium: Rs 2,000

 

u/s 10(10A)of the Income Tax act
Exide Life New Immediate Annuity with Return of Purchase Price

 

Minimum

0 years

 

Maximum-75 years

NA Minimum- Depending upon the minimum Annuity amount of Rs 1,000/month

 

Maximum– No Limit

As per existing tax laws

Exide Life Insurance Investment Plans

The investment plans include such plans that help with the placing of funds into proper investment tools based on an individual’s future goals, time horizon and priorities. These plans also take into account the safety of the investments made by the investors, its liquidity and the level of return. Ideally, the job of investment plans is to produce financial rewards in return of the investor’s funds over the time.

Plan Entry Age Policy/Rider Term Premium to be Paid Tax Benefit
Exide Life My Money Back Plan

 

Minimum– 12 years

 

Maximum- 46 years

16, 20 and 24 years Minimum: Annual – Rs 24,000

 

Monthly – Rs 2,180

Maximum: No limit

u/s 10(10D), 80C and 80D of Income Tax act
Exide Life Income Advantage Plan

 

Minimum– 2 years

 

Maximum- 55 years

16, 24 and 30 years Minimum:

Annual Rs 12,000

 

Monthly:

Rs 1,090

 

Maximum-No Limit

u/s 80C, 80D and 10(10D) of Income Tax act
Exide Life Guaranteed Income Insurance Plan

 

Minimum– 3 years

Maximum- 55 years

15, 20, 24 and 30 years Minimum- Rs 12,000

 

 

Maximum- No Limit

u/s 80C, 80D and 10(10D) of Income Tax act
Exide Life Jeevan Uday

 

Minimum- 0 years

Maximum- 55 years

 

10, 15 and 20 ysears Annual Mode –   Rs 9,600

 

Half Yearly Mode 4,800

u/s 80D and 10(10D) of Income Tax act
Exide Life Star Saver

 

Minimum- 3 years

Maximum- 60 years

 

10, 12  and 15 years Minimum: Annual Mode: ₹24,000
Monthly Mode: ₹5,500Maximum – No Limit
u/s 80C, 80D and 10(10D) of Income Tax act
Exide Life Nirmal Jeevan Insurance Plan

 

Minimum : 3 Years;
Maximum : 55 Years
10, 12 and 15 years Minimum: Rs 6,000

 

Maximum: Rs 12,000

u/s 80C and 10(10D) of Income Tax act
Exide Life Wealth Maxima Invest

 

Minimum: 0 years

Maximum: 65  years

10, 15 and 20 years Minimum:

Annual – ₹36,000
Semi Annual -₹24,000
Monthly – ₹4,000

u/s 80C and 10(10D) of Income Tax act
Exide Life Secured Income Insurance Plus

 

Minimum: 0 years

Maximum: 50  years

10 to 20 years For PPT of 5 Years : Rs 36,000

 

For PPT of 7 Years : Rs 24,000
For PPT of 10 Years : Rs 18, 000

u/s 80C, 80D and 10(10D) of Income Tax act
Exide Life New Fulfilling Life

 

Minimum: 15 years

Maximum: 50 years

Till the age of 85 years For PPT 12 years : Rs 24,000;

For PPT 16,20,24 years : Rs12,000

u/s 80C, 80D and 10(10D) of Income Tax act

Exide Life Insurance – FAQs

Please name the different premium payment options available with Exide Life Insurance?

Ans- The different premium-payment modes available with Exide Life Insurance are:

  1. Auto Debit
  2. Cash payment
  • Payment at Axis & SBI Bank
  1. Online Payment
  2. ECS
  3. NEFT

Following methods can be used for online payment:

  1. Net banking, Debit Card or Credit Card
  2. Electronic Bill Payment & Presentment (EBPP)service with banks
  • eCollect
  1. Tech process solution
  2. Wire transfer

What is the process to check the policy status?

Ans- You can check the status of your policy with the help of online registration on the company’s portal. All you need to do is to login on the company’s website and go to ‘Self Services Page’. Then, enter your policy number, date of birth and the registered mobile number.

You will receive a one Time password (OTP) on the registered mobile number and once you have entered the OTP, you will get your policy status.

What is the renewal process in Exide Life Insurance?

Ans- The policies can be renewed online following the below-enlisted steps:

  1. Log on to your online account.
  2. Enter the details such as policy number, etc. and your date of birth.
  • Once done, pay the renewal fees using your credit/debit card or Net Banking services.
  • Finally, take a print out of your premium payment.

Otherwise, you can also make the payment through cheque or cash mode.

How to cancel an existing policy with Exide Life Insurance?

Ans- You can go to any branch or office of the company in-person & submit the surrender form with the required documents. Once the company will be done with verifying the documents submitted by you, the company will sent a notification to you and the refund process will be started.

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