Exide Life Insurance


4 min read

Overview of Exide Life Insurance 

About the Company

Exide Life Insurance offers diverse products including Exide life insurance plans, term insurance plans, retirement plans and child plans to customers. The Exide life insurance company limited was established in 2001 and has its headquarters at Bangalore in Karnataka. It is now a fully-owned HDFC Life subsidiary entity. It is also nicely capitalized and governed as per IRDAI regulations. There are 40,000+  advisors throughout 200 cities and products are distributed via channels like corporate agents, agencies, brokers, e-commerce, direct channel and more. The company has 15 lakh customers under its belt.

Key Features Specifications
Waiting Period (Pre-existing Ailments) 6-48 months.
Claims Settlement Ratio 98.54%.
Death Benefit Paid (Total) Rs. 88.95 crore.

Awards and Achievements Of Exide Life Insurance

There are several awards and accolades won by Exide Life Insurance company limited. It won the ET Best Brands 2020 in the BFSI segment in that year at the Economic Times Best Brand Awards. Other accolades include Great Place to Work Certified in 2021, Product of the Year in 2019, Masters of Marketing in 2019, and more.

Benefits of Availing Exide Insurance

Exide life insurance is safe or not? This question can be answered best by the countless customers who testify to the plethora of benefits offered by the brand. As prevalent Exide life insurance reviews will tell you, here are some of the biggest benefits for the end-consumer:

  • 15 lakh+ customers with specifically tailored schemes for everyone.
  • Term insurance, health and child plans along with group insurance, investment and retirement plans.
  • Exide Insurance offers customized options to all customers for paying their premiums. There are also single-premium plans along with monthly payment options.
  • High claim settlement ratio and transparent availability of all Exide Life Insurance Policy details both online and offline.
  • High customer satisfaction levels and easy insurance policy renewals.
  • Top-notch customer service and smooth procedure for filling claims.

>> Compare Premium of Term Life Insurance Policy

Life Insurance Plans Offered by Exide Life Insurance

Here are some of the plans offered by the company:

  • Exide Life Smart Term Pro– This term insurance policy enables comprehensive life insurance coverage with 100% returns of the premiums that you pay. The plan enables completion of payments within just 5/8/10/12 years while getting coverage for the entire duration of the policy. Life coverage is provided till the age of 80. There are riders for higher protection along with options for family income payouts for a period of 5/10 years.
  • Exide Life Smart Term Edge– This term insurance plan offers extensive safety coverage along with ensuring a secure future for the entire family. There are three choices for catering to coverage needs while you get your premium payments returned on the completion of the tenure. Life coverage is provided at a nominal premium cost. Returns up to 150% of the premiums that you pay are a major incentive along with riders for enhancing overall protection.
  • Exide Life Saral Jeevan Bima– This is a pure term life insurance policy which helps safeguard the financial future of the family. It helps you choose life coverage with reasonable premium amounts and various kinds of payment modes, i.e. half-yearly, monthly and yearly. Coverage for 40 years as a maximum duration.

How to Buy Exide Life Insurance

You can purchase the life insurance policy by calling 1800 419 0808 and also contact customer care at 1800 419 8228. Customer care will guide you through the next steps of the policy.

Renewal Process of Exide Life Insurance

You have to follow these steps for the renewal:

  • You can renew by contacting customer care.
  • You can pay the premium online via debit/credit card, UPI, net banking and e-wallet.
  • You can also pay your premium in cash to the authorized executive or submit a demand draft/cheque at your nearest branch of Exide Life.

How to File a Claim

  • Register the claim immediately by downloading the form on the official website. You can also get it from the nearest branch office of Exide Life.
  • It should have the details such as the policy holder’s name, nominees, dependents, policy number, the life assured’s name, contact details, address, relationship with the person, claim type, event cause, etc.
  • Fill up the form and attach all the necessary documents.
  • Submit the filled-up form with the documents at your nearest branch office or send them via courier to Customer Services, Exide Life Insurance Company, Gold Hill Square, 1st Floor, #690 Hosur Road, Begur Hobli, Bangalore- 560068.
  • Upon registration of the claim, you will get an acknowledgement letter. Use the policy number for addressing all the queries and during your interactions with personnel of the company till the settlement of the claim.

Claim Settlement Ratio of Exide Life Insurance

Financial Year Claim Settlement Ratio
2019-20 98.15%
2020-21 98.54%

FAQs on Exide Life Insurance

Why Exide Life Insurance ?

Exide Life Insurance is known for its variety of products along with its competitive premiums and slew of advantages.

What are the benefits of buying Exide Life Insurance plans?

The benefits include customized premium payment options, high claim settlement ratio, easy renewals and smooth claim filing procedures.

Can I port out my current plan to any of the Exide Life Insurance plans?

As per the IRDAI, only health insurance plans may be ported currently.

What is the process to make a claim through Exide Life Insurance?

The claim procedure is quite simple- you can either download the form online or get it from your nearest branch office. Fill this up with all supporting documents and either submit them at your nearest branch or via courier.

What kind of insurance policies are offered by Exide Life Insurance?

Exide Life Insurance offers various types of insurance policies including life insurance, health insurance, group insurance, retirement plans, group insurance plans and more.

How to make an Exide Life Insurance online payment to renew the policy?

You can make payment online via credit/debit cards, e-wallets, UPI or net banking.

What are the documents required for the claim settlement process at Exide Life Insurance?

The supporting documents include the following:

# Claim intimation form.
# Original document of the policy.
# Copy of death certificate’s medical cause.
# Original death certificate issued by the local body.
# Medical discharge report, summary, results of tests, admission and outpatient notes, and other documents.
# Proof of bank account with self-attested bank passbook and account statement copies.
# Age and Identity Proof of life assured.
# Identity proof with photograph of the claimant.
# Proof of the present address.

Mar 31, 2022
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PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.

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