Exide Life Insurance Company Limited (Complete Guide)
Exide Life Insurance Company Limited is a private life insurance company headquartered in Bangalore, India. The company was established in 2001 and is a joint venture between Exide Industries Limited and Germany-based Munich Re. Exide Life Insurance.
It offers a wide range of insurance products and services, including term insurance, endowment plans, pension plans, and child plans, as well as unit-linked insurance plans and group insurance policies.
The company has a strong presence in South India and has a network of over 1000 branches across the country.
What Is Exide Insurance
Exide Life Insurance Company Limited is a private life insurance company based in India. It offers a variety of insurance products and services including term insurance, endowment plans, pension plans, and child plans as well as unit-linked insurance plans and group insurance policies. The company’s primary focus is to provide insurance solutions to individuals and families to secure their financial futures. The company operates through a network of over 1000 branches across the country and has a strong presence in South India.
Exide Life Insurance has an efficient customer service system that effectively responds to people’s needs.ELI offers a variety of services to its customers on the online portal. One of these services checks policy status and other details.
How to log in to Exide life insurance?
- Visit the official website of Exide Life Insurance.
- Log in as customers. Four options are available for login:
- Email ID
- Mobile No
- Policy ID
- Client ID
- Now, you can check your Exide Life Insurance Policy details.
How to pay Exide life insurance premium payment?
- Go to official website of Exide Life Insurance
- Click on Pay Premiums
- Enter details such as policy number, and date of birth
- Click ‘Submit’
- Make payment using payment options such as Net Banking, Credit Card, Debit Card, UPI Wallets, Bill Pay, and others.
How Can I Check the Policy Status of Exide Life
You can easily check the status of your current life insurance policy on the Exide Life Insurance website. If you have already registered with the portal, you can easily log in using the Customer Login option. Then enter your username and password. This will bring up a page showing the status of the policy. Here you can check the status of the policy. If you have not yet registered with the portal, you must do so before you can check your policy status. There are several other ways to get information about policies. Clicking on the Customer Service option on the Exide Life Insurance website will take you to a page with Twitter Self Service, Policy Alerts/Notifications, and SMS Service options.
What Is the Claim Settlement Ratio of Exide Life Insurance
The claim settlement ratio (CSR) is a measure of how many insurance claims an insurer settles compared to the total number of claims it receives. A high CSR indicates that the insurer is settling a large number of claims, while a low CSR suggests that the insurer is denying or delaying a significant number of claims.
The claims settlement ratio is one of the first indicators of a company’s health. A prosperous insurance company automatically increases the damage rate.
To understand how Exide life insurance claims are resolved, there are a few things to keep in mind.
1- This ratio is calculated as a percentage.
2- The higher the claim rate shows more credible the company.
3- It is calculated by dividing the total number of claims recognized by the number of claims received by the company.
in a year.
What Is the Grace Period for Exide Life Insurance
A grace period is a specified period of time during which policyholders can make a payment on their insurance policy without incurring a late fee or penalty. The exact grace period for Exide Life Insurance policies may vary depending on the type of policy and the terms of the policy. Typically, for most of the insurance companies, the grace period for life insurance premium is around 15-30 days.
It’s always a good idea to check with Exide Life Insurance or read the terms and conditions of your policy carefully to understand the grace period that applies to your policy. It is also worth noting that if you miss a premium payment and do not pay within the grace period, your policy may lapse, which means it will no longer be in force and you will no longer be covered.
What are different exide life insurance plans?
I) Exide Life Term Plans:
| Plan | Entry Age | Policy Term | Sum Assured |
| Exide Life Elite Term Insurance Plan | Min 21 years to Max 60 years | RegularPay:10 to 40 years | Rs. 50 lakhs to No limit |
| Exide Life Saral Jeevan Bima | Min 18 years to Max 65 years | For Single Pay and Regular pay: 5 years to 40 years For Limited Pay (5 years): 10 years to 40 years For Limited Pay (10 years): 15 years to 40 years | Min Rs. 5 lacs to 25 lacs |
| Exide Life Smart Term Pro | Min 18 years to Max 60 years | 15 to 40 years | For PPT 5 pay: 50 lacs For PPT 8,10,12 pay: 15 lacs |
| Exide Life Smart Term Edge | Min 18 years to Max 60 years | 12 to 30 years | Min 5, 10 lacs to No limit |
| Exide Life Term with Return of Premium Plan | Min 18 years to Max 50 years | Limited Premium: 10 to 30 Regular Premium: 12 to 30 | Min Limited Premium: Rs. 10 Lacs Regular Premium: Rs.5 lacs Max 25 lacs |
II) Exide Life Rider Plans
| Plan | Entry Age | Policy Term | Sum Assured |
| Exide Life Term Rider | Min 18 years to Max 60 years | 5 years to 40 years | Minimum: Rs. 50,000/- Maximum: Rs. 50 lacs or Sum Assured of the Base policy |
| Exide Life Critical Illness Rider | Min 18 years to Max 65 years | 5 years to 40 years | Minimum: Rs. 50,000/- Maximum: Rs. 50 lacs or Sum Assured of the Base policy |
| Exide Life Accidental Death Disability and Dismemberment Rider | Min 18 years to Max 65 years | 10 years to 75 years | Maximum: Rs. 20 lacs or Sum Assured of the Base policy |
III) Exide Life Child Plans:
| Plan | Entry Age | Policy Term | Sum Assured |
| Exide Life New Creating Life Insurance Plus | Parent: Min 18 years to Max 45 years Child: Min 0 years to 17 years | 20 years | With Interest |
| Exide Life New Creating Life Insurance Regular Pay | Parent: Min 18 years to Max 45 years Child: Min 0 years to 17 years | Same as PPT |
IV) Exide Life Health Plans:
Plan for health illnesses like heart attack and cancer treatment costs are expensive and recovery could place a huge injure on your finances.
1) Exide Life Sanjeevani plan
Exide Life Sanjeevani is the first health insurance company with a benefits package that provides complete protection against cancer and heart disease related diseases. This program helps treat cancer and heart attacks.
| Entry Age | Policy Term | Premium payment mode | Premium paying term |
| Min 18 years to Max 65 years | 5 years to 35 years | Annual | Regular pay |
V) Exide Life Retirement Plans:
Exide Pension Plans or Retirement Plans are insurance plans that receive regular payments from your insurance company to help meet your retirement needs.
1. Exide Life New Immediate Annuity
The Exide Life New Annuity annuity product has a refund option for the purchase price. It offers death benefits, flexible annuity options, lifetime guaranteed annuities and more.
| Entry Age | Premium payment mode | Premium paying term |
| Min 0 years (For existing customers) 45 years(For Non-existing customers) Max 100 years (Existing Customers) 80 years (Non-Existing Customers) | Annual, half-yearly, quarterly, monthly | Single (One time) |
2. Exide Life Smart Pension Plan
Excide Life Smart Pension is a unit-linked personal pension that allows you to create a retirement allowance system to prepare for retirement by saving while you are still working.
| Entry Age | Premium payment mode | Premium paying term |
| Min 25 years to Max 70 years | Annual, half-yearly, monthly | 5 to 30 years |
3. Exide Life Saral Pension Plan
Your retirement needs are met through the Exide Life Saral Pension Plan. The plan offers lifetime guaranteed annuity payments, a variety of annuity options, and more.
| Entry Age | Premium payment mode | Premium paying term |
| Min 40 years to Max 80 years | Annual, half-yearly, quarterly, monthly | Single(One time) |
VI) Exide Life Savings & Investment Plans:
Exide Life Insurance offers a wide range of investment and savings products that help clients build long-term wealth and provide financial security to the insured’s family.
1. Exide Life Guaranteed Wealth Plus
Exide Life Guaranteed Wealth Plus is an untethered, no-dividend investment that provides long-term guaranteed returns to help you reach your goals while providing financial security to your loved ones in your absence. This plan offers two different policy options: A lump sum variant and an income variant.
| Entry Age | Policy Term | Premium payment mode | Premium paying term |
| Min Entry age for Lump Sum Variant 3 years to Max 60 years Min Entry age for Income Variant 11 years to Max 60 years | Lump-Sum Variant-15 years,12 years Income Variant-37 years | Annual, half-yearly, monthly | 6 years |
2. Exide Life Wealth Maxima
Exide Life Wealth Maxima is a unit-linked insurance plan designed to provide families with more financial security as their debt increases.
| Entry Age | Policy Term | Premium payment mode | Premium paying term |
| Min 0 years to Max 65 years | 10, 15, 20 years | Annual, half-yearly, monthly | Annualized premium x 10 |
3. Exide Life Assured Gain Plus
Exide Life Assured Gain Plus is a traditional insurance-based cumulative investment plan that allows you to obtain life insurance for the duration of the policy with only five years of payments. At the end of the contract period, you will receive a one-time payment to cover the required funds.
| Entry Age | Policy Term | Premium payment mode | Premium paying term |
| Min 3 years to Max 65 years | 10, 12, 15 years | Annual, semi-annual, monthly, single | Limited(5 years), Single Premium |
4. Exide Life Wealth Builder
The Exide Life Wealth Builder is a unit-linked primary premium insurance plan with a free choice of single payment options and a maximum life insurance coverage of 10 times the primary premium.
| Entry Age | Policy Term | Premium payment mode | Premium paying term |
| Min 13 years(For policy term 5) and Min 8 years(For policy term 10) to Max 65 years | 5, 10 years | Single pay | Single premium |
5. Exide Life Wealth Elite
A credit-linked insurance plan called Exide Life Wealth Elite offers eight fund options to choose from along with a full death benefit.
| Entry Age | Policy Term | Premium payment mode | Premium paying term |
| Min 0 years to 65 years | 10, 12, 15 years | Annual, monthly | 5, 8, 10 years |
6. Exide Life Secured Income Insurance Plus
Life Insurance Plus protects you and your family with long-term benefits and death benefits that add to the income of the beneficiary’s family.
| Entry Age | Policy Term | Premium payment mode | Premium paying term |
| Min 0 years to 50 years | 10, 12, 15 years | Annual, monthly | 5, 8, 10 years |
7. Exide Life Secured Income Insurance RP
Exide Life Secured Income Insurance has a fixed payment plan that provides a death benefit for 60 months as both a lump sum and a source of family income.
| Entry Age | Policy Term | Premium payment mode | Premium paying term |
| Min 0 years to 55 years | 15 – 25 years | Annual, monthly | Annual, monthly |
8. Exide Life Star Saver
Exide Life Star Saver is a limited payout savings life insurance plan that offers tax-free guarantees and comprehensive insurance coverage for the duration of the policy.
| Entry Age | Policy Term | Premium payment mode | Premium paying term |
| For Policy Term 10 Years: 8 Years– 60 Years For Policy Term 12 Years: 6 Years– 60 Years For Policy Term 15 Years: 3 Years– 60 Years | 10, 12, 15 years | Annual, half-yearly, monthly | 5 years |
9. Exide Life Saral Jeevan
The Exide Life Saral Jeevan plan allows you to put money aside on a regular basis and have a guaranteed insured amount to cover your needs at the end of the policy period.
| Entry Age | Policy Term | Premium payment mode | Premium paying term |
| Min 0 years to Max 65 yearsMin Entry age 8 years for 10 PPT, 10 years for 8 PPT, 12 years for 6 PPT Max Entry age 50 years | Lump-Sum Variant-12 years, 12/16 years,15/20 years Income Variant-6, 8, 10 years | Annual, half-yearly, monthly | 6/8/10years |
10. Exide Life Saral Bachat
Exide Life Saral Bachat is an unlinked non-profit savings plan that offers life insurance for the duration of the policy and an amount guaranteed at maturity.
| Entry Age | Policy Term | Premium payment mode | Premium paying term |
| Min Entry age 8 years for 10 PPT, 10 years for 8 PPT, 12 years for 6 PPT Max Entry age 50 years | Lump-Sum Variant-12 years, 12/16 years,15/20 years Income Variant-6, 8, 10 years | Annual, half-yearly, monthly | 6/8/10years |
11. Exide Life My Assured Income Plan
A special savings life insurance plan called Exide Life My Guaranteed Income guarantees you guaranteed recurring income to meet your future needs.
| Entry Age | Policy Term | Premium payment mode | Premium paying term |
| Min Entry age 13 years for 5 PPT, 10 years for 8 PPT, Max Entry age 60 years for 5 PPT, 54 years for 8 PPT | 10, 16 years | Annual, half-yearly, monthly | 5, 8 years |
12. Exide Life Income Advantage Plan
Exide Life Income Advantage Plan is a special savings and life insurance policy that works for you and offers a steady income.
| Entry Age | Policy Term | Premium payment mode | Premium paying term |
| Min Entry age 10 years for 16 PT, 6 years for 24 PT, 3 years for 30 PT, Max Entry age 55 years for 16, 24 PT, 50 years for 30 PT | 16, 24, 30 years | Annual, half-yearly, monthly | 8, 12, 15 years |
13. Exide Life Guaranteed Income Insurance Plan
To assist you to improve your lifestyle, the Exide Life Guaranteed Income Insurance Plan offers a guaranteed regular income and a guaranteed tax-free maturity benefit.
| Entry Age | Policy Term | Premium payment mode | Premium paying term |
| Min Entry age 10 years for 16 PT, 8 years for 20 PT, 6 years for 24 PT, 3 years for 30 PT, Max Entry age 55 years | 16, 20, 24, 30 years | Annual, monthly | 8, 10, 12, 15 years |
14. Exide Life Sampoorna Jeevan
Exide Life Insurance’s Sampoorna Jeevan Plan is a unique savings strategy. Samuel Jeevan Exide Life Insurance gives you the opportunity to adjust your payments to meet your changing financial needs as you go through different stages of life.
| Entry Age | Policy Term | Premium payment mode | Premium paying term |
| Sampoorna Jeevan 75 Min Entry age 12 years for 6 PPT, 10 years for 8 PPT, 8 years for 10 PPT, 6 years for 12 PPT, 3 years for 15 PPT Sampoorna Jeevan 100- 18 years Sampoorna Jeevan 75,100 Max entry age 60 years | Sampoorna Jeevan 75: 75-entry age Sampoorna Jeevan 100: 100-entry age | Annual, half-yearly, monthly | 6, 8, 10, 12, 15 years |
15. Exide Life New Fulfilling Life
Exide Life New Fulfilling Life is a thorough plan that offers life insurance up to age 85 as well as periodic survival benefits, income tax benefits, and other benefits.
| Entry Age | Policy Term | Premium payment mode | Premium paying term |
| 15 to 50 years (For PPT 12,16 or 20 years) 15 to 46 years (For PPT 24 years) | 85- Entry age | Annual, monthly | 12, 16, 20, 24 years |
Frequently Asked Questions (FAQs):
Is Exide Life Insurance listed company?
Exide Life Insurance Company Limited is not a listed company. It is a privately held company, which means that its shares are not publicly traded on a stock exchange.
Is Exide life now HDFC life?
Exide Life Insurance Company Limited is still a separate and independent entity. It is not a subsidiary or part of HDFC Life Insurance Company Limited.
Who is the partner of Exide Life Insurance?
Exide Life Insurance Company Limited is a joint venture between Exide Industries Limited and Munich Re. Exide Industries is one of the India’s largest storage battery manufacturers and also operates in the areas of home UPS and inverters. Munich Re is a German multinational reinsurance company
Is Exide Life Insurance Good?
Exide Life Insurance Company Limited is considered a reputable and well-established insurance company in India. It offers a wide range of insurance products and services to their customer.
How many customers does Exide Life Insurance have?
Exide Life Insurance had over 15 lakh customers and managed assets worth over INR 18,000 crores in assets.
Closing Up
Now you got to know about exide life insurance company limited. Exide Life Insurance is one of the leading life insurance companies in India, offering a wide range of policies with generous funding. In addition to providing life insurance, Exide Life strives to meet all of its customers contract-related needs.
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