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Exide Life Insurance

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Exide Life Insurance

Overview
Exide Life Insurance Co. Limited is a well-established and highly profitable life insurance player in India with its headquarters in Bangalore. The company commenced its operations from 2001-02 and is owned wholly by the reputed Exide Industries Limited, one of India’s biggest battery manufacturers and power storage solution providers. The company has served more than 15 lakh customers till date with more than Rs.11, 000 crores under management.

For 2016-17, the company accomplished Rs. 2, 400 crore by way of premium based turnover with profits of Rs. 112 crore. There are 200 company offices across India along with a network of more than 50, 000 advisors. Group life insurance solutions are offered along with long term savings and term protection plans.

Exide Life Insurance at a glance
  • 15 lakh+ customers and over Rs. 2, 400 crore in premium income in the FY 2016-17
  • Over 50, 000 + advisors and 200 offices
  • Total premium income of Rs 2,409 crores as of March 31, 2017
  • 96.4% claim settlement ratio in 2016-2017
Exide Life Insurance Co. Limited Term Plans
There are effective term plans available at Exide Life Insurance Co. Limited. Term plans help in offering financial security for the family even when the person insured is absent. These plans offer a sizeable sum assured and there are rewards for leading a healthier life throughout the policy tenor. There are family income benefits available too.

Documents needed to apply for Exide Life Insurance
  • Age proof - (Any One)
    Driving License, Passport, Voter ID Card, Birth Certificate, etc
  • Identity proof – (Any One)
    Driving License, Passport, Voter ID card, PAN Card, Aadhar Card, or any document which proves citizenship
  • Income proof
  • Address proof – (Any One)
    Driving License, Passport and Utility Bill should clearly mention the permanent address
  • Income proof – (Any One)
    Salary Slip, Form 16, ITR
  • Recent passport size photograph

Exide Life Insurance Term Plans
  • Exide Life Smart Term Plan: Exide Life Smart Term Plan offers comprehensive protection options and returns the premiums paid by you on completion of policy term.
  • Exide Life Term Rider: It is an add on product that can be attached to select Exide Life Insurance Traditional plans for enhanced life cover at a nominal additional premium.

1: Exide Life Smart Term Plan: This is a pure term insurance plan with protection options and returns the premiums paid by you. This is ideal for those looking for a life insurance cover to protect their family and also receive return of premiums on policy maturity.

Advantages and Benefits
  • Three plan options - Classic, Step-up and Comprehensive.
  • Guaranteed Return of Premium on completion of Policy Term
  • Enhanced protection through Critical Illness and Accident Riders
  • Flexible premium paying options
Product Features
Age at Entry (as on last birthday)
Features Classic Step-up Comprehensive
Single Pay 18 - 65 Years Not Available 18 to 65 Years
5 Pay 18 - 65 Years 18 - 60 Years Not Available
Regular Pay 18 - 60 Years 18 - 58 Years 18 to 60 Years
Policy Term
Features Classic Step-up Comprehensive
Single Pay 10 - 30 Years Not Available 10 to 30 Years
5 Pay 10 - 30 Years 10 - 30 Years Not Available
Regular Pay 12 - 30 Years 12 - 30 Years 12 to 30 Years
Minimum Sum Assured*
Features Classic Step-up Comprehensive
Single Pay Rs. 5 Lakhs Not Available Rs. 10 Lakhs
5 Pay Rs. 10 Lakhs Rs. 10 Lakhs Not Available
Regular Pay Rs. 5 Lakhs Rs. 10 Lakhs Rs. 10 Lakhs
Premium Paying Mode Monthly**, Half Yearly and Annual

https://www.exidelife.in/products/exide-life-smart-term-plan

2: Exide Life Term Rider: It is an add on product that can be attached to select Exide Life Insurance Traditional plans for enhanced life cover at a nominal additional premium

Advantages and Benefits
  • Get up to double life cover.
  • Benefit at a nominal additional premium
Features Description
Min/Max Age at entry Minimum : 18 Years
Maximum : 60 Years
Max. age at maturity 70 years
Sum Assured Minimum : Rs. 50,000/-
Maximum : Lower of Rs. 50,00,000/- or Sum Assured of the Base policy
Rider Term Regular Premium Payment : 5 Years – 40 Years

https://www.exidelife.in/products/life-insurance/exide-life-term-rider