Do you want to know the total information of Exide Life Insurance Protection Plans? Then you are at the right place. Every person wants to give protection to their family and children. For those customers, Exide Life has introduced many Protection Plans. Before going to buy the Exide Life Insurance Protection Plan, you have to check the Eligibility, Benefits of the policy. If you want to the complete details of Exide Life Protection Plan, go through the below sections of the article.
Exide Life Insurance Protection Plans Review
The Policyholder primary goal in life is to see his/her family happy & secure at all times. For that Purpose buying, Exide Life Insurance Protection Plan is the best way to the interested one. The first and foremost thing that the Life Assured need to do is to identify whether the insurance is only for life cover or looking for an investment option? Depending on the requirements the Insured can buy any of the Protection Plan which best suits to you by investing the money.
Exide Life Insurance provides best protection plans for the customers to secure their Life. The various Exide Life Protection Plans are Exide Life Smart Term Plan, Exide Life Term Rider, Exide Life Critical Illness Rider, Exide Life Accidental Death, Disability & Dismemberment Rider, etc. The Life Insured may view the details of each Term plan individually on this page. This Exide Life Insurance Term Plans may cover you and your family at all the times. So, before going to buy the new plan, you may check the details of that particular plan here itself.
Exide Life Protection Plans Details
Every Policy has its Benefits & Key Features. Similarly, The Exide Life Insurance Term Plan also has its features along with Benefits and eligibility. The various Protection Plans are available below.
- Exide Life Smart Term Plan.
- The Exide Life Term Rider.
- Exide Life Critical Illness Rider.
- The Exide Life Accidental Death, Disability & Dismemberment Rider.
Exide Life Insurance Protection Plan Key Features & Benefits
Exide Life provides various Term Plans to the policyholders in order secure their family from different uncertain conditions. You may check the Benefits and Features of Exide Life Term Plans from the below section individually.
Key Features of Exide Life Term Insurance Plan
The Protection Plans has the following Features which is available below.
- On completion of the policy term, the Insured will receive the premium.
- The Premium Payment Options are flexible.
- At Nominal cost, additional life cover is provided.
- Enhanced protection through Critical Illness and Accident Riders.
Exide Life Protection Plan Benefits
Death Benefit: The Nominee will receive the lump sum amount equal to the Rider Sum Assured on the unfortunate death of the Policyholder.
Maturity/Surrender Benefit: As this are pure protection plans, there is no Maturity Benefit and Surrender Benefit.
Refer the below section for more details regarding each protection plan.
Exide Life Insurance Protection Plans – Exide Life Smart Term Plan
The Smart Term Plan is a non-participating, non-linked plan with 3 plan options such as Step up, Classic and Comprehensive. The Unique Identification Number is UIN: 114N083V01. The Policyholder can choose any of the plan options according to the requirement.
- Classic-Protection: The Life Assured is protected through a Sum Assured on Death, and the Policyholder receives the Maturity amount equal to 100% of total premiums paid.
- Step-up-Protection with a higher return of premium: The Insured are protected through a chosen Sum Assured on Death and on maturity you are paid an amount ranging from 110% to 150% of total premiums paid within the chosen policy term.
- Comprehensive-Enhanced protection with the return of premium: All the benefits under Classic Variant are covered. Additionally, the policyholder can increase the level of death benefit through the purchase of Extra Protection.
Key Features:
- The Insured has the option of Flexibility to choose the premium payment.
- The Company offers three variants to suit the desired protection.
- Additional Protection through Accident Riders and Critical Illness.
- Return of premium on completion of the policy term.
- High Sum Assured Discount.
Exide Life Insurance Smart Term Plan Benefits
As every plan offers some benefits, Exide Life Insurance Protection Plans also provides some major benefits under this plan.
Tax Benefit: The Life Assured can avail the Tax Benefits under Section 80 C and 10 (10D) as per the Income Tax Act, 1961.
- Additional Rider Benefits are provided such as Critical Illness Rider & Accidental Death, Disability and Dismemberment Rider.
Eligibility Conditions:
| Criteria | Classic | Step Up | Comprehensive | |
| Entry Age (as on last birthday) | Single Pay | 18 to 65 Years | – | 18 to 65 Years |
| 5 Pay | 18 – 65 Years | 18 – 60 Years | Not Available | |
| Regular Pay | 18 to 60 Years | 18 to 58 Years | 18 – 60 Years | |
| Policy Term | Single Pay | 10 to 30 Years | – | 10 – 30 Years |
| 5 Pay | 10 – 30 Years | 10 to 30 Years | N/A | |
| Regular Pay | 12 to 30 Years | 12 – 30 Years | 12 to 30 Years | |
| Minimum Sum Assured | Single Pay | 5 Lakhs | – | 10 Lakhs |
| 5 Pay | 10 Lakhs. | 10 Lakhs. | Not available. | |
| Regular Pay | 5 Lakhs. | 10 Lakhs. | 10 Lakhs. | |
| Premium Paying Mode | Monthly, Half Yearly and Annual Mode. | |||
For more information regarding Exide Life Insurance Protection Plans, refer Exide Life Smart Term Plan broucher.
Exide Life Term Rider
Exide Life Insurance Term Rider (UIN: 114B007V02) is an add-on protection plan to the Base Plan which provides financial security to your family even in your absence. It is a pure protection plan which provides an additional protection at a nominal cost.
Features of Exide Life Term Rider
- The Natural and Accidental Deaths are covered in this plan.
- At the nominal cost, additional life cover is provided.
Benefits
- Maturity Benefit: Under Life Term Rider Plan, Maturity Benefit is not payable.
- Tax Benefit: The Policyholder is provided with Tax Benefits as per the Income Tax Act, 1961 under section 80 C and 10(10D).
- Double the Life Cover is available for the Insured in addition to base plan amount.
Eligibility Criteria of Exide Life Term Rider
| Minimum Entry Age | 18 years. |
| Max Age at Entry | 60 years. |
| Min/Ma Term of Rider | 5 years to 40 years. |
| Minimum Sum Assured | Rs 50,000/-. |
| Maximum Sum Assured | Lower than Rs 50,00,000 or Sum Assured of base policy. |
| Premium Payment Modes | Same as Base Policy. |
| Premium Payment Terms | Regular Pay. |
For more information regarding this plan, refer Exide Life Term Rider broucher.
Exide Life Critical Illness Rider Plan
The Life Assured can use rider plan in addition to the traditional plan to meet the medical expenses without making burden to the family. The Unique Identification Number is UIN: 114B009V02. The Policyholder is offered with 2 options such as Option A for 4 critical Illness and Option B for 25 Critical Illness. Below are the features, benefits and eligibility of the Rider Plan.
Exide Life Insurance Critical Illness Rider Plan Key Features
- On Diagnosis of any of the Critical Illness, the Insured is paid with lump sum amount.
- The Premium rates are fixed for 5 years.
Benefits
- Critical Illness Benefit: The Rider Sum Assured is paid to the Insured on detection of any of the Critical Illness mentioned in the Plan.
- Maturity Benefit: No Maturity Benefit is offered to the Policyholder as it is pure protection plan.
Eligibility Conditions for Exide Life CI Rider
| Entry Age: |
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| Ceasing Age for CI Benefit | 70 years. |
| Rider Term: |
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| Premium Payment Term: | Regular Pay. |
| Sum Insured: |
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| Premium Payment Mode: | Same as Base Policy. |
For more information regarding this plan, refer Exide Life Critical Illness Rider Plan.
Exide Life Accidental Death, Disability & Dismemberment Rider
The Accidental Death, Dismemberment & Disability Rider (UIN: 114B002V02) provides an additional financial security to the family of the policyholder in the event of a sudden accident of the Insured. The ADDDB provides 100% sum assured in case of death due to the accident. Follow the below page for details regarding the Features, Benefits and Eligibility.
Exide Life ADDDB Rider Key Features
- The Policyholder is provided with additional protection in case of death or dismemberment due to the sudden accident.
- This Plan can be attached to the Existing Plan without buying the New Plan.
- The Sum Assured is paid in case of disability.
Benefits of Exide Life Accidental Death, Dismemberment & Disability Rider
- Maturity Benefit: The Insured is not provided with this benefit because it is a pure protection plan.
- Tax Benefit: The Policyholder can avail the tax benefits as per the Income Tax Act, 1961.
Eligibility Conditions of Exide Life ADDDB Rider
| Minimum Entry Age | 18 years. |
| Max Age at Entry | 65 years. |
| Ceasing Age for Rider Protection | 75 years. |
| Min Rider Term | 10 years. |
| Maximum Term of Rider | 75 years. |
| Minimum/Max-Sum Assured | Same as Base Policy. |
| Premium Payment Modes | Same as Base Policy. |
| Premium Payment Terms | Regular Pay. |
For more details, refer the Exide Life Accidental Death, Dismemberment & Disability Rider broucher.
Exide Life Insurance Protection Plans Premium Calculator
If you want to calculate the premium or maturity amount or any other, you can make use of the Exide Life Protection Plan Premium Calculator. For calculation, the details that you may need to enter are,
- Name of the Policyholder.
- Mobile Number.
- Age Proof.
- Email Id.
- Policy Term and Sum Assured.
How to Buy Exide Life Insurance Protection Plans?
From all the above mentioned Exide Life Insurance plans, you can buy the required policy at the Branch Office or contact the agent of Exide Life company. To buy Exide Life Insurance Protection Plans, a proposal form/application form is required. Some policies have the facility to buy through online. The documents that may be required to buy Exide Life Term plans are,
- Proposal Form/Application form along with a photo.
- Age Proof.
- Address Proof.
- Medical reports (If required).
Claim Process of Exide Life Protection/Term Plan
On the death of the Insured during the policy term or on maturity, the nominee/policyholder can claim for the benefit. To claim any of the Exide Life Protection plans, you need to visit the branch office if there is no online facility. Documents that may be required for claiming an Exide Life Protection/Term plan are,
- Original Policy Document.
- Age proof.
- Medical treatment documents before death.
- Proof of title and Death Proof.
- Additional documents in case of death occurred due to unnatural or accidental death.
Exide Life Insurance Protection Plans – Additional Information
Free Look Period:
If you are not satisfied with the terms and conditions of the policy, you may cancel the policy within the Free Look Period mentioned by the company. For most of the policies, it will be 15 days.
Grace Period:
If you have not paid the premium within time, the company will provide a grace period to make the Insured pay the premium within that time. Most of the Exide Life Protection policies has the grace period as shown below.
- For Base Plan – 15 days.
- For Riders – 30 days.
Revival Period:
The Policy can be revived within 2 years from the date of first unpaid premium.
Surrender Value:
You can surrender the policy at any time during the policy term if you have paid the premiums for the period mentioned by the company. For Exide Life Smart Term Plan, this period will be 3 policy years.