about company n various terms n conditions and plans

1. EXIDE LIFE INSURANCE

2. INTRODUCTION
 Exide Life Insurance Company Limited, is a 100%
Indian owned life insurance company, owned by
the Exide Industries. Exide Life Insurance distributes
its products through multi-channels viz. Agency, Banc
assurance, Corporate Agency & Broking as well as
Direct Channels. The Agency channel consists of
50,000 advisors who are attached to over 200
company offices across the country. The company
also offers group life insurance solutions.
 The company has over 15 lakh customers and
manages over INR 11,015 crores in assets.
 It has been operating since 2001 and headquartered
at Bangalore. It deals with the life insurance products,
providing long-term protection and savings option.

3. CEO Of Exide
Kshitij Jain

4. OUR PRODUCTS
 EXIDE LIFE SMART TERM PLAN
 EXIDE LIFE TERM RIDER
 HEALTH PLAN

5. Exide Life Smart Term Plan
 Exide Life Smart Term Plan, a unique
plan that offers you comprehensive
protection options and returns the
premiums paid by you on completion of
policy term.

6. Benefits of plan
 Protection with higher return of premium
 Under this option, you pay for a chosen Life Cover
and on completion of policy term an amount up to
150% of annual premiums paid by you is returned.
This payout depends on the policy term chosen by you
(See Table below).
Policy Term (Years) Return of Premium
10 - 14 Years 110%
15 - 19 Years 120%
20 - 24 Years 130%
25 - 29 Years 140%
30 Years 150%

7. Exide Life Term Rider
 It is an add on product that can be attached to select
Exide Life Insurance Traditional plans for enhanced
life cover at a nominal additional premium.
Benefit of Plan:
 Get up to double life cover
Get up to double life cover in select Exide Life
Insurance Traditional Plans. In case of an eventuality,
this amount will be paid in addition to the base plan
life cover amount.

8. HEALTH PLAN
Exide Life Sanjeevani:
 Exide Life Sanjeevani is the first fixed benefit health
insurance plan offering comprehensive coverage
against Heart and Cancer related conditions.
 Double Claim Benefit : Claim In Addition to Any
Existing Health Insurance-
We will pay you the benefit on diagnosis of covered
Heart and Cancer conditions even if you have filed a
claim under any existing health insurance policy that
you may have.

9. RIDERS PLAN
Exide Life Accidental Death Disability
and Dismemberment Rider
 It is an add-on that can be attached to a traditional Exide
Life Insurance Policy and provides enhanced coverage
in case of accidental death, disability or dismemberment.
Benefits of Plan:
 An additional lump sum amount is paid in case of
accidental disability, dismemberment or death.
 It can be attached to select Exide Life Insurance
traditional plans without any need of buying a new
policy.

10. Goods and Services Tax (GST)
applicable on Life Insurance Policy+
-
 As mandated by Government of India,
Goods and Services Tax (GST) will come
into effect on
1st July 2017 and will replace the existing
Service Tax and other cess levied on
Insurance policies.
 Here is how your Life Insurance premiums
will get impacted:

11. YOUR POLICY TYPE Current Applicable
Service Tax Rate
GST Rate Effective
01.07.17
Traditional/ Endowment
Plans 1st Year Premium
3.76% 4.50%
Traditional/ Endowment
Plans 2nd Year onwards
1.87% 2.25%
Term Plans, Health
Plans and Riders
15.00% 18.00%
Unit Linked Insurance
Plans(ULIPs)
15.00% 18.00%*
Annuity Single Premium
Plan
1.50% 1.80%

12. CLAIM PROCESS
A simple process to ensure your claim is settled
with ease and minimal documentation.
 Register your claims as soon as the loss has
occurred.
 Use the claim intimation form available at
• Your nearest Exide Life Insurance Branch
Office Locate a Branch
• Online claim registration on website Register
a claim online
• Write to us at Claims@exidelife.in

13. Fill the form completely and attach
required documents.
You can submit the same at nearest

14. SITUATIONS
 Natural Death
 Accidental or Unnatural Death
(including Suicide)
 Accidental Disability and
Dismemberment Claim
 Critical Illness
 Terminal Illness
 Waiver Of Premium

15. TERMS AND CONDITIONS
In this Policy, unless the context requires
otherwise, the following words and
expressions shall have the meaning
ascribed to them respectively herein
below:
Age shall be age of Life Assured at entry
based on Age Last Birthday and is
stated in the Policy Schedule.
Benefits mean the applicable benefits
payable in accordance with Clause 3 of
the terms of the Policy.

16. Eligible Person means the Policyholder,
including assignees under Section 38 of the
Insurance Act, 1938, or nominees under
Section 39 of the Insurance Act, 1938, or
proving executors of administration or other
legal representatives, as per the applicable
Regulations.
Grace Period means the time granted by the
Company from the due date for the payment
of Premium without levy of any interest or
penalty during which time the Policy is
considered to be in force. The Grace Period
so granted is 15 (fifteen) days for Monthly
mode and 30 (thirty) days for all other
premium payment modes from the respective
Premium payment due date.

17. Guaranteed Death Benefit (GDB)
means the amount of life insurance
cover as specified in the Policy
Schedule or such amount as may be
endorsed on the Policy or the reduced
death benefit as per the applicable
terms of this Policy which is payable
by the Company to the Eligible Person
as per Clause 3.3 .

18. Guaranteed Surrender Value (GSV)
means the value accrued after payment
of at least 1 (one) full year’s premium
for all PPTs, as per clause 4.4.2. of the
terms of this Policy.
Guaranteed Maturity Benefit (GMB)
refers to the maturity benefit mentioned
in the Policy Schedule and payable to
the policyholder as per Clause 3.2
mentioned below, subject to his survival
till end of the Policy Term.

19. Policyholder means the person as
specified in the Policy Schedule.
Policy Commencement Date is the
Date, Month and Year the Policy
comes into effect and is as specified in
the Policy Schedule. Policy Maturity
Date means the date on completion of
the Policy Term as specified in the
Policy Schedule. Policy Schedule
means the Schedule issued by the
Company and attached to and forming
part of this Policy. Policy Term means
the tenure of this Policy as specified in
the Policy Schedule.

20. Premium means the amount payable in a
Policy Year on the due date as set out in the
Policy Schedule.
Premium Payment Term (PPT) means the
period in years during which Premiums are
payable under the Policy, as specified in the
Policy Schedule.
Life Assured means the person named as
mentioned in the Policy Schedule, and on
whose life the Policy has been taken in terms
hereof.
Regulations mean the laws and regulations in
effect from time to time and applicable to this
Policy, including without limitation the various
circulars, regulations and directions issued by
the Regulatory Authority from time to time.

21. Regulatory Authority means the
Insurance Regulatory and
Development Authority and/or such
other authority (ies) as may be
designated under the applicable
Regulations.
Rider or the Rider Policy means the
Rider/s, if any, issued by the
Company, attached to and forming
part of this Policy.
Rider Benefits means the Benefits
payable under the Rider and
mentioned in the Rider Policy.

22. . Requirements for maturity
claims
In case of maturity claims
a. Original Policy document
b. Discharge Form
c. Self-attested ID Proof
d. Bank account details

23. EXCLUSIONS
Suicide: In case the life assured commits
suicide, while sane or insane, within one year
from the date of commencement of policy or
from the date of reinstatement of the lapsed
policy, the company will not be liable to pay
the benefits under the policy other than what
is specified below: Death occurs within one
year from policy commencement date: 80%
of premium paid, excluding GST. Death
occurs within one year from reinstatement
date: Higher of 80% of premiums paid,
excluding GST, till the date of death or the
Surrender Value as available as on the date
of death.

24. Lien: In case of minor lives aged below
12 years, life cover shall commence
two years from date of
commencement of policy. In case of
such deaths prior to commencement
of risk cover; the death benefit shall be
restricted to refund of premiums
without interest.

25. Fraud, Misrepresentation and
forfeiture
Fraud, Misrepresentation and forfeiture
would be dealt with in accordance with
provisions of Sec 45 of the Insurance
Act 1938 as amended from time to
time.