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Exide Life Insurance T&Cs

Some of the standard terms and conditions in the Exide Life Insurance term insurance plans are listed below:

  • Nomination: Every Exide Life Insurance policyholder should register a nomination. It simplifies the insurance claim process. The nominee is the person eligible to register the insurance claim if the policyholder dies before the policy's maturity. There are provisions for changing the nominee at any time during the policy term. The policyholder can include the name of a minor as the nominee but should add the name of a major individual to receive the claim amount on the minor's behalf.
  • Grace Period: Insurance plans offered by Exide Life Insurance come with a grace period of 15 days in case the policyholder pays the premium on a monthly basis, and 30 days for all other modes of premium from the respective premium payment due date.
  • Lapse: If the insured is unable to pay the required premium within the grace period and the policy has not acquired the surrender value, then the policy will lapse and no benefits could be availed under the policy.
  • Taxation: Indian tax laws apply to all Exide Life Insurance policies. The policyholder gets benefits under various sections of the Income Tax Act 1961 for premium payment. The maximum premium amount that can be considered for tax concessions is Rs 1.50 Lakh. Sec 10D of the Act stipulates that the bonus and the benefits received on the maturity or the death benefit are tax-free.
  • Proper Disclosure: The policyholder is legally bound to furnish appropriate information to Exide Life Insurance when purchasing term insurance policies. In the event of any misrepresentation of serious nature, the company can decline the insurance claim. If there is a discrepancy in the policyholder's age, the policy benefits can change depending on the actual age.
  • Inform Changes: The policyholder should inform Exide Life Insurance of any change in the name, address, and contact details.
  • Duplicate Policy Document: The policyholder can contact Exide Life Insurance for the issuance of a duplicate policy if the original is lost, misplaced, or stolen. The application should be in writing detailing the circumstances under which the policy was lost. Exide Life Insurance can issue a duplicate policy to the policyholder.
  • Jurisdiction: All the terms and conditions listed in the Exide Life Insurance term insurance annexure are subject to and governed by Indian laws. They can change, depending on the changes in Indian legislation.
  • Grievance Redressal: If the policyholder/nominee has grievances regarding any issue, they have to follow the grievance redressal procedure listed on the Exide Life Insurance website.
  • Exclusive Rights: Exide Life Insurance has exclusive rights for altering, reviewing, revising, or deleting any of the terms and conditions.

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Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

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User Reviews

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  • Customer Satisfaction

    When I was buying the Exide life plan from InsuranceDekho, the InsuranceDekho customer team was extremely helpful. I genuinely didn’t face any problems when I was buying the Exide life insurance plan from InsuranceDekho.

    P
    Exide
    By Priya Mohini
    On: Dec 18, 2023
  • No Regrets with InsuranceDekho

    I have absolutely no regrets choosing InsuranceDekho for my Exide Life Insurance Policy. Their platform simplifies the entire process and makes it a breeze.

    K
    Exide
    By Kaushik Lal
    On: Nov 15, 2023
  • Best Rates in Town

    InsuranceDekho offered me competitive rates for my life insurance policy. I compared with other websites, and they had the best deals. Happy with my choice of securing the Exide Life Insurance Policy.

    A
    Exide
    By Anita Kaul
    On: Oct 30, 2023
  • Insurance Made Simple

    InsuranceDekho simplifies the complex world of insurance. They broke down the jargon and helped me make an informed decision to buy Exide Life Insurance Policy

    H
    Exide
    By Hardik Bhatia
    On: Sep 27, 2023
  • Bonus and Dividend Benefits

    I've seen my Exide Life Insurance Policy's bonus and dividend benefits grow over the years, which is a testament to InsuranceDekho's financial stability.

    P
    Exide
    By Priyanka Rai
    On: Sep 13, 2023

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