Exide Life Insurance

Headquartered in Bengaluru, Exide Life Insurance is 100% owned by Exide Industries. The company has been in operation since 2001-02. Over the past two decades, Exide Life Insurance has served over 15 lakh customers situated across India. The company uses a multi-channel distribution network consisting of agency networks, bancassurance partners, corporate agency and broking, direct, and online channels. Exide Life Insurance offers a range of attractive insurance products to suit the demands of its vast clientele.

The company has performed well on almost all parameters with the highlight being its Claims Settlement Ratio of 98.15% for the financial year 2019-20. Exide Life Insurance has won various awards and recognitions over the years. Some of the prime awards are “Digital Insurer of the Year 2018 (India)” in 2018 and the “ET Best Brands 2020 (BFSI category) in 2020. Besides, the Exide Life Smart Term Plan was voted as the Product of the Year 2019.

Types of Exide Life Insurance Plans

Exide Life Insurance offers a variety of insurance plans spread over various categories. They are primarily classified into the following categories.

1. Term Insurance Plans: Exide Life Term Insurance plans provide financial security to your family when you are no longer around to do so. The insurer provides the following term insurance plans to the customers:

• Exide Life Smart Term Pro
• Exide Life Smart Term Edge
• Exide Life Term With Return Of Premium
• Exide Life Elite Term Insurance Plan
• Exide Life Term Rider

2. Exide Life Health Insurance Plans: Exide Life health insurance plans cover you for healthcare expenses arising during the policy term. Following are the health insurance plans offered by the insurer to its customers:

• Exide Life Sanjeevani
• Exide Life Critical Illness Rider

3. Savings and Investment Plans: Exide Life Insurance offers a range of savings and investment plans that enable you to save your money for the future while enjoying the benefits of life cover at the same time. These plans include child plans, wealth plans, inheritance plans, and specific products to manage your life’s goals.

• Exide Life New Creating Life Insurance Plans
• Exide Life Saral Jeevan
• Exide Life Saral Bachat
• Exide Life My Assured Income Plan
• Exide Life Income Advantage Plan
• Exide Life Secured Income Insurance Plans
• Exide Life Guaranteed Income Insurance Plan
• Exide Life Wealth Maxima
• Exide Life Assured Gain Plus
• Exide Life Wealth Builder
• Exide Life Wealth Elite
• Exide Life Secured Income Insurance Plus
• Exide Life Sampoorna Jeevan
• Exide Life New Fulfilling Life

4. Retirement and Pension Plans: These plans help you to secure your future after you retire from your jobs/occupations. There are three products in this category, pension plan, annuity plan, and QROPS (a facility to transfer your pension funds from the UK to India). The insurer offers the following retirement and pension plans:

• Exide Life New Immediate Annuity
• Exide Life Smart Pension Plan
• QROPS

5. Group Insurance Solutions: Exide Life Insurance offers five group insurance products that help small business enterprises and even large corporations safeguard the future of their employees and provide financial security to their families. The insurer offers the following group insurance plans:

• Exide Life Group Micro Term Insurance
• Exide Life Group Loan Suraksha
• Exide Life Group Gratuity Product
• Employees Deposit Linked Insurance Scheme
• Exide Life Group Illness Rider