Exide Life Insurance: Plans, Policy Details & What You Should Know
Exide Life Insurance is now part of HDFC Life, one of India’s leading private life insurance companies. Following the merger, HDFC Life services all the former Exide Life insurance policies. It continues to offer a wide range of individual and group insurance solutions across protection, savings, investment, pension, and health categories.read more
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Key Company Facts (Pre-Merger)
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Industry |
Life Insurance |
|---|---|
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Ownership |
Wholly owned subsidiary of Exide Industries |
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Customer Served |
15+ lakh |
|
Assets Under management (AUM) |
₹15,795 crore (FY 2019) ₹18,381 crore (as of 31 March 2021) |
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Employees & Advisors |
40,000–45,000+ advisors Presence across 200+ locations pan-India |
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Distribution Channels |
Agency, Bancassurance, Corporate Agency & Broking, Direct & Online channels (including web aggregators) |
Why Was Exide Life Insurance Popular?
Exide Life consistently ranked among the stronger private life insurers in India based on claims performance and financial stability.
Key reasons people trusted Exide Life —
- High claims settlement ratio: 98.67% (IRDAI data)
- Strong solvency ratio: 2.08 (well above regulatory requirements)
- Focus on traditional savings + protection plans
- 13th Month Persistency Ratio: 59.62% (among the highest in the industry)
- ISO-certified customer service and data security processes
By 2021, Exide Life —
- Served 15+ lakh customers
- Managed assets worth ₹18,000+ crore
- Covered over 20 lakh lives (individual + group)
These metrics reflect Exide Life Insurance Company’s focus on long-term policy servicing and claims reliability, a legacy now carried forward by HDFC Life.
Different Exide Life Insurance Plans
Exide life insurance plans were designed around four core financial needs that most Indian families face at different life stages. Instead of offering one-size-fits-all products, Exide Life structured its portfolio to solve specific goals.
Let’s break these down with examples to make it easy for you to understand.
1. Exide Life Term Insurance Plans (Protection)
Term insurance was one of the strongest segments for Exide Life. These plans focused purely on income replacement. The coverage keeps your family financially secure, even if something happens to you.
|
Plan Name |
Entry Age |
Sum Assured |
|---|---|---|
|
Exide Life Saral Jeevan Bima |
18–65 yrs |
₹5–25 lakh (AED 22,000 – 1,10,000) |
|
Exide Life Smart Term Edge |
18–60 yrs |
₹5 lakh – ₹2 crore+ (AED 22,000 – 8,90,000+) |
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Exide Life Smart Term Pro |
18–60 yrs |
₹15 lakh – ₹50 lakh+ (AED 67,000 – 2,25,000+) |
Exide Life Saral Jeevan Bima:
- Coverage up to 40 years
- Multiple premium payment options (single, limited, regular)
- Monthly, half-yearly, or annual premium modes
This was a standardized IRDAI-approved plan. It was ideal for people who wanted clarity and affordability without complex features.
Exide Life Smart Term Edge:
- Two variants: Classic & Comprehensive
- 100% premium return on maturity
- Full sum assured paid on death
This plan combined pure protection with a refund benefit, making it attractive to conservative buyers.
Exide Life Smart Term Pro:
- Limited premium payment (5, 8, 10, or 12 years)
- Return of premium on survival
- Family income payout options
- Riders for accident & critical illness
This plan worked well for people who wanted high cover without lifelong premiums.
🔔 These Exide Life term plans are no longer sold, but existing policyholders remain fully protected under HDFC Life, with all benefits unchanged.
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Important! If you’re in the UAE, it’s always advisable to get term life insurance in AED instead of INR. With AED-based plans, the benefits are provided in a stable currency that doesn’t erode the actual value of your sum. You can find out more about the currency role here. Policybazaar.ae has the top term insurance plans from the leading insurers in one place. Click the button below to get started and find the right plan for your family! |
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2. Exide Life Savings & Investment Plans
These plans were designed for people who preferred guaranteed returns, capital protection, and predictable income, rather than market-linked volatility.
Exide life insurance plans were designed exactly for this profile.
Exide Life Guaranteed Wealth Plus:
- Guaranteed income for up to 30 years
- Premium payment for only 6 years
- Option for lump sum or regular income
- Life cover for the full policy term
Exide Life Sampoorna Jeevan:
- Life cover up to age 75 or 100
- Multiple bonus options
- Flexible payout structure
- Long-term wealth creation focus
Exide Life Star Saver:
- Pay for 5 years
- Guaranteed maturity benefit
- Additional accident death benefit
These plans suited investors who preferred certainty over market-linked returns.
Other Savings & Income Plans (Purpose-Based)
- Saral Jeevan / Saral Bachat: Guaranteed returns with income or lump sum options
- My Assured Income Plan: Predictable income payouts with terminal benefit
- Income Advantage Plan: Pay early, receive income later
- Guaranteed Income Insurance Plan: Tax-free income in later years
These plans appealed to people who valued discipline and income visibility over market-linked growth.
3. Exide Life Pension & Retirement Plans
Retirement planning was another strong area for Exide Life.
Exide Life New Immediate Annuity Plan:
- Lifelong guaranteed annuity
- No medical tests
- Option for return of purchase price on death
- Suitable for retirees seeking a steady income
Exide Life New Smart Pension Plan:
- Entry age: 25–75 years
- Build retirement corpus
- Loyalty additions
- Flexibility in vesting age
These plans were commonly used by NRIs returning to India after working abroad.
4. Exide Life Child Insurance Plans
Child plans focused on education + protection. The options ensure that children’s goals are met, even if the parent is not around.
Key Features
- Waiver of premium on the parent’s death
- Guaranteed additions
- Long-term education corpus
- Family income payout options
|
Feature |
Creating Life Plus |
Creating Life Regular Pay |
|---|---|---|
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Parent Entry Age |
18–45 yrs |
18–45 yrs |
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Child Entry Age |
0–17 yrs |
0–17 yrs |
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Waiver of Premium |
Yes |
Yes |
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Guaranteed Additions |
Yes |
No |
|
Premium Mode |
Monthly / Annual |
Monthly / Annual |
These plans ensured education funding continuity, regardless of life uncertainties.
Note: Just like term plans, you can also find many options that offer life coverage + investment under one policy. In fact, when you make investment in UAE in AED-based plans, you can benefit from a strong currency, a stable economic environment, and more.
Read More: NRI Investment in AED: Why It’s a Smarter Choice Over INR
Services for Existing Exide Life Policyholders
If you hold an Exide life insurance policy, you can still access policy services digitally through HDFC Life’s service ecosystem.
Available Online Services
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Premium payment & auto-debit setup
- Policy summary & bond download
- Update PAN, bank, and contact details
- Download premium receipts & certificates
- Claim registration and tracking
- Check unclaimed policies
These services ensure seamless policy management from India or overseas, including for NRIs and UAE residents.
Exide Life Insurance (Now HDFC Life): Eligibility & Policy Details
|
Category |
Details |
|---|---|
|
Minimum Entry Age |
21 years (age on the previous birthday) |
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Maximum Entry Age |
60 years (age on the last birthday) |
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Maximum Maturity Age |
70 years (standard policy term) 80 years (if you choose the Extended Term) |
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Policy Term – Single Premium (SP) |
5 to 35 years (multiples of 5 years only) |
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Policy Term – Regular Premium (RP) |
10 to 35 years |
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Extended Term Option |
RP + 5 years or RP + 10 years No premiums payable during the extended term |
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Premium Paying Term (PPT) |
Single Pay (one-time premium) Regular Pay (same as policy term) |
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Minimum Sum Assured (Online) |
₹50 lakh (~AED 2,25,000) |
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Minimum Sum Assured (Offline) |
₹2 crore (~AED 8,90,000) |
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Maximum Sum Assured |
No limit (subject to underwriting guidelines) |
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Premium Payment Modes |
Annual, Monthly |
Death Benefit Payout Options
Here’s the payout options you get for your Exide life insurance policy —
|
Payout Option |
How the Benefit is Paid |
|---|---|
|
Option A: Lump Sum Payout |
100% of the death benefit is paid as a one-time lump sum to the nominee |
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Option B: Lump Sum + Family Income Payout (FIP) |
50% of the death benefit paid as a lump sum + 0.95% of the death benefit paid every month for 60 months |
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Option C: Family Income Payout |
1.07% of the death benefit paid every month for 120 months (no lump sum payout) |
What Residents & NRIs Should Know About Exide Life Insurance?
If you live in the UAE and own an Exide Life policy —
- Your policy remains fully valid
- You can file claims from abroad
- Premiums can be paid online
- Tax benefits depend on Indian tax residency
For new policies, UAE residents must now explore HDFC Life plans or international insurance options.
Final Thoughts: Is Exide Life Insurance Still Relevant?
While Exide Life Insurance Company no longer sells new policies, its legacy products continue to serve millions of policyholders. If you —
- Already own an Exide Life policy → Continue confidently
- Are looking to buy new insurance → Compare HDFC Life
- Are based in the UAE and looking for term or life insurance → Go for UAE-based plans
The key takeaway is simple: Good insurance decisions are built on clarity, not brand nostalgia.
Disclaimer: The information provided in this article is for general informational purposes only and should not be considered financial, legal, or insurance advice. Readers are advised to verify details directly with the insurer or consult a licensed insurance advisor before making any purchase, renewal, or surrender decisions.
FAQs for Exide Life Insurance
How can I check my Exide Life premium due date?
You can check your Exide Life premium due date by logging into the customer portal on the official Exide Life website. Enter your policy number and registered mobile number to view premium details and due dates.
How to check Exide Life Insurance policy expiry date online?
Visit the Exide Life Insurance website and go to Customer Services > Track My Application. Enter details like policy number, date of birth, or registered mobile number to view your policy expiry date.
Is HDFC buying Exide Life Insurance?
Yes. HDFC Life successfully acquired Exide Life Insurance in January 2022. All existing Exide life insurance policies are now managed under HDFC Life with unchanged benefits.
How do I renew my Exide Life term plans?
You can renew your policy online by logging into your Exide Life account and paying the premium digitally. Alternatively, you may contact customer care or visit a nearby branch for assistance.
Is Exide a Chinese company?
No. Exide Industries Limited is an Indian multinational company headquartered in Kolkata, India. It is one of the country’s oldest and most trusted brands.
Is Exide Life Insurance safe?
Yes. Exide Life (now HDFC Life) is regulated by IRDAI and offers reliable life insurance products with a strong claim settlement record and a streamlined claim process.
Can I cancel my Exide Life term plan within 15 days?
Yes. Exide Life offers a free-look period of 15–30 days from policy receipt. In this period, you can cancel the policy and receive a refund after applicable deductions.
How to know the fund value of Exide Life Insurance?
Log into the Exide Life customer portal using your policy number and registered mobile number. You’ll find the fund value displayed on your policy dashboard, although you can also find it in policy statements.
How can I check the Exide Life Insurance policy surrender value?
You can check the surrender value by reviewing your policy document, logging into your online account, or contacting Exide Life customer support with your policy details.
What is the surrender value of the Exide Life Insurance policy?
The surrender value is the amount payable if you exit the policy before maturity. It depends on the policy type, premium paid, duration completed, and IRDAI guidelines.
How to cancel ECS mandate of my Exide Life Insurance?
Contact Exide Life customer care and submit a written request or cancellation form. Once approved, ensure an alternative premium payment method is set up to avoid policy lapse.
Is Exide better or Amaron?
Both are reliable brands. Amaron is often preferred for quick charging and warranty experience, while Exide is known for durability, heavy-duty performance, and a wide service network.
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