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Exide Life Insurance Co. Ltd. is among the most profitable life insurance companies in India. Exide plans are a tailor made, wholesome package of, various Protection Plans, Savings and Investment Plans, and Retirement and Pension Plans. The company consistently delivers on providing long-term protection and savings solutions by way of a traditional portfolio.
Exide Life Insurance Co. Ltd was earlier termed as ING Vysya Life Insurance. The beginning of this venture was in 2001 with collaboration between ING Vysya Bank, ING Insurance and the Damani Group. This was also the first innovative bancassurance enterprise in India.
Overtime, Exide Industries bought major stakes in the venture, and by 2005 it was the owner of a little more than 50% stakes. With the total exit of ING from India in January 2013, the Exide Industries took over the remaining 50% shares of ING Vysya’s Life Insurance division. The organization was almost immediately renamed to Exide Life Insurance Co. Ltd. (Exide Life Insurance) by the Ministry of Corporate Affairs.
With the headquarters based in Bangalore and more than 200 company offices scattered nationwide, Exide Life Insurance Co. Ltd is on the fast track to becoming a leading insurance provider in the country.
Exide Life Insurance Co. Ltd. is backed by century old equity name of Exide Industries Ltd. The 100% stakeholder has a market capitalization of Rs.11,600 crores with no plans of letting up anytime soon.
The premium Income of Exide Life Insurance in itself was a whopping amount of Rs.2,027 crores which are among the highest in the industries. The core profits of the company are Rs.65.3 crores with a 23% increase from the previous year. The company has clearly carved a niche for itself in the asset management segment with over Rs.8,800 crores in assets under management.
Exide Life Insurance Co. Ltd. serves over 15 Lakh satisfied customers all over India with major focus on over 200 major cities.
Exide life insurance won ‘The Indian Insurance Award’ in 2016 for having the highest average productivity among its agents.
The Exide Life Insurance brand strives to tell a brand new story of a bright future backed by a rich heritage. The advantage which it enjoys over competitors is based on the roots and the basic way of doing business. Here are a few key features:
Exide Life Insurance Co. Ltd. has tailor made plans to suit everyone’s needs
1. Exide Life Smart Term Plan
This plan provides comprehensive protection options and returns all the premiums paid at the time of maturity. There are further three options in this plan which are Classic, Step-up and Comprehensive.
Policy | Features | Policy Term | Age | Sum Assured (in Lakhs) |
---|---|---|---|---|
Classic | Single Premium | 10 - 30 | 18 – 65 | 5 |
5 Pay | 10 - 30 | 18 – 65 | 10 | |
Regular Premium | 12 - 30 | 18 – 60 | 5 | |
Step-up | Single Premium | N.A. | N.A. | N.A. |
5 Pay | 10 - 30 | 18 – 60 | 10 | |
Regular Premium | 12 - 30 | 18 – 58 | 10 | |
Comprehensive | Single Premium | 10 - 30 | 18 – 65 | 10 |
5 Pay | N.A. | N.A. | N.A. | |
Regular Premium | 12 - 30 | 18 – 60 | 10 |
Key Benefits
2. Exide Life Wealth Maxima
A ULIP Plan aiding in efficient wealth creation and higher financial protection
Minimum Age for entry (years) | 18 |
Maximum age for entry (years) | 65 |
Maximum age for maturity (years) | 75 |
Policy Term (years) | 10 – 20 |
Sum Assured | Annualized Premium x 7 or 10 |
Benefits
3. Exide Life Golden Years Retirement Plan
It provides a host of benefits to build a corpus.
Minimum & Maximum Age at entry | 18 - 65 |
Minimum & Maximum vesting age | 55 - 75 |
Premium Paying term | 10 – 42 years |
Benefits
4. Exide Life Sanjeevani
It is the first fixed-benefit health plan covering both heart and cancer conditions.
Minimum Age for entry (years) | 18 |
Maximum age for entry (years) | 65 |
Maximum age for maturity (years) | 70 |
Policy Term | 5 – 35 |
Sum Assured | Rs. 5,00,000/- to Rs. 25,00,000/- |
Life Insurance Cover | N.A. |
Benefits