Home | Types of insurance | Exide Life Insurance Company Limited

Exide Life Insurance Company Limited

Get your free Credit report that cost Rs 1200 for FREE

1. Build your Credit Score

2. Reduce your Current Borrowing / EMI Costs

Exide Life Insurance Company Limited or ELICL is one of the renowned insurance organizations in India. It is headquartered in Bangalore, and it had commenced the operations in 2001-02. The Exide Industries Limited holds a 100% stake in the company and more than 15 lakh customers have purchased policies from the Exide Life. The overall assets managed by the company have exceeded the mark of Rs.9500 crores, and in 2015-16 the premium revenue collected by the company was Rs.2000 crores.

Eligibility for Exide Life Insurance Company

Minimum age must be at least 18 years old.
Maximum age should be less than 65 years old.
Occupation eligibility includes salaried employees, professionals, and self-employed people.

Documentation required to apply for the DHFL Pramerica Life Insurance

1. Identity Proof

2. Age

3. Proof of Income

4. Residence Proof

5. PAN Number

A Glance of Exide Life Insurance

A maximum mandate of 35 years.
Minimum Assured Sum: 25 lakhs
Maximum Assured Sum: 25 crore

Benefits Offered

Exide Life Insurance Company Limited has become renowned over the years for providing the life insurance products of high quality. The company provides savings solutions as well as the long-term protection plans to an extensive customer base. With a portfolio as broad as Exide Life’s, finding the perfect policy for the insurance needs becomes easy. Moreover, the company has an ISO 9001:2008 quality certification, thus ensuring its reliability in the market. The Exide Life currently has more than 50,000 advisors and the agents who work in over 200 offices across India, making it relatively convenient to find the right policy in little to no time.

Types of Insurance Policies Offered

Protection Plans	Term Plans	1.Exide Life Elite Term 2.Insurance Plan Exide 3.Life Smart Term Plan 4.Exide Life Term Rider
	Health Plans	1.Exide Life Sanjeevani 2.Exide Life Critical Illness Rider
	Riders	1.Exide Life Critical Illness 2.Rider (with the health plan) Exide Life Term Rider 3.Exide Life Accidental 4.Death, Disability, and Dismemberment Rider
Savings and Investments Plans	Children’s Plans	1.Exide Life Wealth Maxima - Maxima Child 2.Exide Life New Creating 3. Life Insurance Plans 4.Exide Life Mera Aashirvad
	Life Goals Plans	1.Exide Life My Money 2.Back Plan Exide Life 3.Wealth Maxima Exide 4.Life Income Advantage 5.Plan Exide Life Secured Income Insurance Plans 6.Exide Life Guaranteed Income Insurance Plan 7.Exide Life Star Saver 8.Exide Life Jeevan Uday 9.Exide Life Nirmal Jeevan Plan
	Surplus Fund Investment Plans	1.Exide Life Wealth Elite 2.Exide Life Wealth 3.Maxima Exide Life 4.Prospering Life Plus 5. Exide Life Assured Gain 6. Plus Exide Life Secured Income Insurance Plus
	Inheritance Plans	Exide Life New Fulfilling Life
Retirement and Pension Plans		1.Exide Life Golden Years Retirement Plan 2. Exide Life.New Immediate Annuity Plan
Group Business Plans		1.Exide Life Group Term Life Solutions 2. Exide Life Group Traditional Employee Benefit Plan 3.Exide Life Group Loan Suraksha 4. Exide Life Group Gratuity Product 5.Employees’ Deposit Linked Insurance Scheme (EDLI) 6.Exide Life Group Illness Rider

Protection Plans of Exide Life Insurance

Plans	Minimum and Maximum Age	Basic Sum Assured	Premium Payment Term (PPT)	Policy Tenure
A. Exide Life Elite Term Insurance Plan	Minimum age of entry - 21 years Maximum age of entry - 60 years	The minimum assured amount is - Rs.50 lakh if the selected mode is online and it is Rs.2 crore if the selected mode is offline. Maximum sum assured - No limit	Policyholders can choose from either the single-pay premium policies or the regular premium policies.	For the single premium policies: The policy term will be between the 5 and 35 years. For the regular premium policies: The policy term will be between 10 and 35 years. For the extended terms: Regular premiums( +five or +10 yrs)
B. Exide Life Smart Term Plan.	a. For single-premium policies, In the classic plan, the entry age is between 18 and 65 years. For a step-up plan, there are no age criteria, and for a comprehensive plan, the entry age is between 18 and 65 years. b.For 5-pay policies, in a classic plan, the entry age is between 18 to 65 years. For a step-up plan, the entry age is between 18 and 60 years, and for a comprehensive plan, there are no age criteria. c. For regular premium policies: in the Classic Plan, the entry age will be between 18 and 60 years. Step-up Plan: The entry age is between 18 and 58 years. Comprehensive Plan: the entry age is between 18 and 60 years.	The basic assured amount is paid by Exide Life to the life assured as a death benefit and maturity benefit.	There are two premium payment options among which the policyholders can choose - Single premium policy and the regular premium policy.	A. For single premium policies, in the classic plan, the policy term is between 10 to 30 years and for the comprehensive plan, the policy term will be 10 to 30 years. B. For Five-pay policies, in a classic plan, the policy term is between ten to 30 years. For a step-up plan, the policy term is between 10 to 30 years C. For the regular premium policies, in the classic plan, the policy term is between 12 and 30 years. D. For the Step-up plan: the policy term is 12 to 30 years. Comprehensive plan: the policy term is 12 to 30 years
C. Exide Life Term Rider	Minimum age of entry: 18 years (as of last birthday) Maximum age of entry- 60 years (as of last birthday)	a. Minimum sum assured: Rs.50,000 b. The maximum amount assured - will either be a lower amount of Rs.50 lakh or the assured amount of the base policy.	Provides regular pay premium policies only. The premium paying modes are the same as that of the base plan.	The rider term is between 5 years to 40 years

Plans	Minimum and Maximum Age	Basic Amount Assured	Premium payment term (PPT)	Policy term
a.Exide Life Accidental Death Disability and Dismemberment Rider	Minimum age of entry: 18 years as of last birthday year Maximum age: 65 years	The minimum amount assured: same as the base policy and sum assured. The maximum amount assured - the same as the base policy and sum assured.	Regular pay premium policies are provided by company..	Minimum rider term: 10 years Maximum rider term: 75 years
b.Exide Life Term Rider	Minimum entry age: 18 years as of last birthday Maximum entry age: 60 years as of last birthday	Minimum sum assured: Rs.50,000 Maximum sum assured: an amount that is lesser than either Rs.50 lakh or the sum assured of the base policy.	Regular pay premium policies are provided.	Minimum rider term: 5 years Maximum rider term: 40 years
c.Exide Life Critical Illness Rider	Minimum entry age: 18 years as of last birthday year. Maximum entry age: 65 years.	Minimum sum assured: Rs.50,000 Maximum sum assured: an amount that is lower; either Rs.25 lakh or the amount assured of the base policy.	Regular pay premium policies are provided by the company.	Minimum rider term: Five years Maximum rider term: 40 years

Child Plans of Exide Life

Investing for a child at an early age can provide crucial benefits to the parents as the amount can be used either for higher education or marriage or for any long-term goal which parents want their children to accomplish.

Plans	Minimum and Maximum Age	Basic Amount Assured	Premium Payment Term (PPT)	Policy Tenure
A. Exide Life Wealth Maxima - Maxima Child	Minimum age of entry for “Maxima Invest”: 0 and 18 years for “Maxima Family and Maxima Child” plan: Maximum age of entry for “Maxima Invest” is 65 years, 55 years for “Maxima Family”, and 50 years for “Maxima Child.”	For the policyholders aged 44 years, the basic sum assured will be: Annualized premium X 10 For the policyholders aged above 44 yrs, the basic sum assured will be: Annualized Premium x (7 or 10)	10, 15, to 20 years	10, 15, to 20 years
B. Exide Life New Creating Life Insurance Plus	Minimum age of entry: 18 years as of last birthday year. Maximum age: 45	Minimum sum assured: For PPT of five years: Rs.1.22 lakh (monthly) and Rs.1.33 lakh (annually) For PPT of years: Rs.1.05 lakh (monthly) and Rs.1.14 lakh (annually) For PPT of 10 years: Rs.1.07 lakh (monthly) and Rs.1.17 lakh (annually)	The premium payment terms offered are five, seven, or ten years.	Minimum policy term: 10 years, 12 years, and 15 years Maximum policy term: 20 years
C. Exide Life New Creating Life Insurance Regular Pay	Minimum entry age: 18 years as of last birthday Maximum entry age: 45 years.	Minimum sum assured: Rs.1.13 lakh (for the premiums paid on a monthly basis) Rs.1.23 lakh (for the premiums paid on a yearly basis)	The PPT available under the plan is between 15 to 25 years.	The policy tenure ranges from 15 to 25 years.
D. Exide Life Mera Aashirvad	Minimum age as of last birthday: 0 years Maximum age as of last birthday: 15 years	Minimum sum assured: for premium paying term of ten to 14 years, minimum amount assured is: Rs.3.50 lakh and Rs.4.50 lakh for the premium paying term of 15 years-20 years	a. If the age of the child is zero, then the Premium Paying Term will be 13 to 20 years. b. If the child is one year old, then the PPT will be between 12 to 20 years. c. If the child is two years old, then the PPT will be between 11-20 years. d. If the age of the child will be between three and fifteen years, then the PPT will be between 10-20 years.	The policy tenure will be a total aggregate of the premium paying term + for 5 years.

Savings and Investment Plans of Exide Insurance

Types of Plan	Minimum and Maximum Age	Basic Amount Assured	Premium Paying Term (PPT)	Policy Tenure
Exide Life My Money Back Plan	A. For the policy term of 16 years: The minimum age will be 14 years as on last birthday. B. For the policy term of 20 years: The minimum entry age is 13 years as on the last birthday. C. For the policy term of 24 years: The minimum age of entry is 12 years as on the last birthday. D. For the policy term of 16 years: The maximum entry age is 54 years as on the last birthday. E. For the policy term of 20 years: The maximum entry age is 50 years. F. For the policy term of 24 years: The maximum age will be 46 years	The minimum basic amount assured for Survival Benefit Option A - Uniform Money Back: For the policy tenure of 16 years, the minimum basic amount assured will be Rs.1.95 lakh. B. For the policy term of 20 years, the minimum basic amount assured will be Rs.2.55 lakh. C. For the policy term of 24 years, the minimum basic sum assured is Rs.3.27 lakh. The minimum basic amount assured for Survival Benefit Option B - Increasing Money Back: a. For the policy term of 16 years, the minimum basic amount assured is Rs.2.14 lakh. b. For the policy term of 20 years, the minimum basic amount assured is Rs.2.85 lakh. c. For the policy term of 24 years, the minimum basic amount assured is Rs.3.89 lakh. There is no limit for the maximum basic amount assured.	A. For the policy term of 16 years, the premium payment term is 12 years. B. For the policy term of 20 years, the premium payment term is 16 years. C. For the policy tenure of 24 years, the premium payment term is 20 years.	The available policy terms are 16, 20, and 24 years
B. Exide Life Wealth Maxima	Minimum age of entry: For the Maxima Invest: It is zero years. For the Maxima Family and Maxima Child: 18 years. Maximum entry age for Maxima Invest is sixty-five years. For Maxima Family is 55 years. For Maxima Child is 50 years.	a.For the policyholders aged 44 years: Basic Amount Assured will be: Annualized premium x 10 b.For the policyholders aged more than 44 years: Basic Amount Assured will be: Annualized Premium x (7 or 10)	The premium payment terms available are ten, 15, and 20 years.	The policy tenures available under the plan are ten years, fifteen years, and 20 years.
C. Exide Life Income Advantage Plan	Minimum age: a. For the policy tenure of 16 years, the minimum entry age is nine years as of the last birthday. b. For the policy tenure of 24 years, the minimum age of entry is five years as of the last birthday. c. For the policy tenure of 30 years, the minimum entry age is two years as of the last birthday. Maximum entry age: For the policy tenure of sixteen years, the maximum entry age is fifty-five years as of the last birthday. d. For the policy tenure of 24 years, the maximum entry age is fifty-five years as of the last birthday. e. For the policy tenure of 30 years, the maximum entry age is fifty years as of the last birthday.	The basic sum assured amount is fixed and is chosen by the insured during the purchase of the policy.	a. For the policy term of 16 years, the premium payment term is 8 years. b. For the policy term of 24 years, the premium payment term is 12 years. c. For the policy term of 30 years, the premium payment term is 15 years.	The policy tenures that one can choose from are 16 years, 24 and 30 years.
D.Exide Life Secured Income Insurance Regular Plan.	a.Minimum entry age: 0 years b.Maximum entry age: 55 years as of last birthday.	The basic assured amount is chosen by the policyholder at the time of purchasing the policy.	The policyholder can choose the premium payment term between 15 and 25 years.	The available policy terms are either fifteen or 25 years.
E. Exide Life Secured Income Insurance Plus	Minimum entry age: 0 years Maximum entry age: 50 years as of the last birthday.	The basic assured amount is chosen by the policyholder at the time of purchasing the policy.	The Policyholders can choose the premium payment term of 5, 7 years, or 10 years.	Minimum policy term: The Policyholders can choose the minimum policy term of either ten, 12 years, or 15 years. The maximum policy term is twenty years.
F. Exide Life Guaranteed Income Insurance Plan	Minimum entry age: a. For the policy term of 15 years, the minimum entry age is eleven years. b. For policy term of 20 years, the minimum entry age is eight years. c.For the policy tenure of 24 years, the minimum entry age is six years. d. For the policy term of 30 years, the minimum entry age is three years. Maximum entry age: 55 years	Minimum basic sum assured = Rs.90,978 Maximum basic sum assured - No limitations	a. For the policy term of 15 years, the premium payment term (PPT) is seven years. b.For the policy term of 20 years, PPT is ten years. c.For the policy term of 24 years, PPT is twelve years. d. For the policy term of 30 years, PPT is fifteen years.	The available policy terms that one can choose from are fifteen years, twenty years, twenty-four years, and 30 years.
G. Exide Life Star Saver	a.For the policy term of ten years: Minimum entry age is eight years. Maximum entry age is sixty years. b.For the policy term of 12 years: Minimum entry age is six years. Maximum entry age is 60 years. c.For the policy term of 15 years: Minimum entry age is three years. Maximum entry age is 60 years.	a. Minimum sum assured is Rs.65,037 b. Maximum sum assured: no limitations and amount is subjected to an underwriting policy approved by the Board.	The premium payment term (PPT) available is five years.	The available policy terms one can choose from are ten, 12, and 15 years.
H. Exide Life Jeevan Uday	Minimum entry age:0 years. Maximum entry age: 55 years as of the last birthday	Minimum assured amount upon the maturity of policy: Rs.37,734 Minimum assured amount upon the death of the policyholder: Rs.42,000	The premium payment term (PPT) available is ten years.	The available policy tenures, one can choose from are ten, fifteen, and the 20 years.
I. Exide Life Nirmal Jeevan Insurance Plan	Minimum entry age: a. For the 15-year policy term, the minimum entry age will be 3 years. b. For the 12-year policy tenure, the minimum entry age will be six years. c. For the 10-year policy term, the minimum entry age will be eight years. d.The maximum entry age for the insurance policy is 55 yrs as of the last birthday year of the policyholder.	Amount assured is provided to the policyholder upon the maturity of policy and death of the policyholder.	The available premium payment tenures that one can choose from are ten, Twelve, or 15 years.	The available policy terms one can choose from are ten, twelve, and 15 years.

Claim Process

Below is the procedure mentioned to claim the insurance with Exide Life:

Step 1: Register the claim as soon as the loss or event has occurred.

Step2: Acquire the claim intimation form from the nearest Exide Life Insurance Branch Office, or download the form from the website. This form must contain details like:

Policy Number
Name of policyholder, dependants or nominees.
Contact information and the address.
Name of the policyholder.
Relationship with the policyholder (Nominee, appointee, assignee)
Type of claim(whether the death is natural/unnatural, disability or dismemberment, critical or terminal illness)
Cause of the event.

Step 3: Fill in the form of diligently and attach all the required documents.

Step4: Submit the claim intimation form with the necessary documents at the nearest Exide Life Insurance Branch Office, or courier it to the Customer Services Department, Exide Life Insurance Company Limited, Gold Hill Square, First Floor,690, Hosur Road, Begur Hobli, Bangalore – 560068.

Step5: Once the claim gets registered, an Acknowledgement Letter will be sent to the claimant. Use the policy number for all the queries and interactions with Exide Life Insurance Company until the claim is settled.

Documents required for the claims due to Natural Death

Filled in Claim Intimation Form.
Original Policy Document.
Original death certificate granted by the local authority.
Copy of the death certificate.
Medical records of the discharge, death summary, test results, admission, and outpatient consultation notes.
Age and the Identity Proof of the policyholder.
Identity Proof (with photo) of the claimant.
Evidence of bank account of the claimant with the self-attested copy of bank passbook, and account statements.
Proof of the current address.

Documents required for the claims arising from Unnatural Death or Accidental Death (including suicide)

In the case of the unnatural or accidental death of the policyholder, all the documents as requested in case of the claims arising from natural death must be presented along with the following documents:

Copy of the FIR, attested by the concerned jurisdictional police station.
Post Mortem Report, certified by all the concerned officials.
Documents required for the claims arising from Accidental Disability or dismemberment are the same as needed for the claims arising from natural death.

Documents required for the claims arising from Critical Illness and Terminal Illness are also the same as needed for the claims arising from natural death.

Documentation required to apply for the Exide Life Insurance:

Identity proof
Proof of age
Proof of income
Address Proof
PAN Number

Policy Status of Exide Life Insurance

Policy status of the Exide Life insurance policy can be tracked through different channels, depending on the convenience.
The company has made the provision for both online as well as the offline modes through which the policyholders can check the current status of the life insurance policy.

Online Method for Policy Status Check
The policyholders can visit the website of Exide Life and log on to the customer portal. After logging in, the current status of the existing policy will be displayed on the screen.
The policyholders can alternatively check the policy status by sending an email to the Customer Care Team of Exide Life Insurance, quoting their name, address, policy number, and the mobile number. The current status of the policy and any other required information will be mailed to them.
The policyholders can also use the live chat option to get the details about the policy status. The ‘live chat’ tab is present at the bottom right corner of the homepage of Exide life insurance. Upon clicking the ‘chat’ tab, the policyholder can chat with the company executive who will provide an update regarding the policy status. The policyholder might be required to present some details such as the name of the policyholder, date of birth and the policy number to the executive.

Offline Method of Exide Life Policy Check

The policyholders can track the status of the policies offline by visiting a nearest Exide insurance branch and enquiring there.
The customers can also contact through the toll-free number 1800 419 8228 and check the status of their policy.
The company has introduced an SMS facility for policy status check and other details as well. To use this facility, the customers can send an SMS, following which the company executive will call them back and address the query.

Get your invite to mymoneykarma

GET INVITED

Credit Score powered by

^®

Questions

Email us at [email protected]

Disclaimer: The credit score provided by mymoneykarma is from Equifax. Visitors looking for their credit scores from any other Credit Information Company, are requested to refer to the official website of the concerned company for further details. Any reference to these Credit Information Companies on mymoneykarma website are strictly informative; mymoneykarma doesn't directly transact with them.