Exide Life Insurance Claim Settlement
Claim Settlement Ratio | 98.54% |
Customer Care | 9:00 AM to 7:00 PM |
Death Benefit Paid For | 3,404 Policies |
Inception | 2001 |
Presence | 200+ offices |
Total Death Benefit Paid | 88.95 Crore |
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Claim Settlement of Exide Life Insurance
Exide Life Insurance has a simplified and customer-friendly claims procedure where nominees or claimants can register their insurance claims online and offline, depending on their convenience. Exide Life Insurance deals with these claims promptly and ensures a fair and transparent settlement process. It is reflected in the incredible claim settlement ratio of 98.54%% that the company has achieved for the financial year 2020-21.
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How To Make Claim
Exide Life Insurance Online Claim Settlement Process
Exide Life Insurance offers a customer-friendly three-step claim online registering process on its website.
Step 1: Claim Registration: The nominee/claimant has to enter the policy number, name, address, email ID, and phone number in the claim intimation form. He/she is then required to enter the policy details, such as the name of the insured person, the relationship of the nominee with the insured individual, type of the claim, the date of the event, and the cause of the event.
Step 2: Claim Processing: The claim is processed and the documents are requested. After submission of the documents, the claim will be initiated and sent for investigation.
Step 3: Claim Settlement: Exide Life Insurance settles the claims within 90 days of the last document submitted. If the claim is processed and found legitimate, then the claimant is informed and the amount is sent to his/her bank account.
Exide Life Insurance Claims Department registers the claim and provides a reference number that the nominee/claimant can use to track the claim status.
Exide Life Insurance Offline Claim Settlement Process
The registration of the claim is the first step in any process. The nominee/claimant can visit the nearest Exide Life Insurance branch to obtain the claim form. Alternatively, you can download the claim form from the website. Customers can also email the details to claims@exidelife.in. The procedure for completing the claim form and submission of the necessary documents is the next. The nominee/claimant can submit the form and documents at the branch office or dispatch the set to the head office to register the claim. Exide Life Insurance provides the acknowledgment number. Subsequently, the company processes the claim and conveys the decision on time. The claim amount gets credited to the nominee/claimant's bank account.
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Documents Required
Exide Life Insurance entertains six types of insurance claims. The documents required for each of these claims are as follows.
Claim Type
Documents Required
Natural Death
- Claim form completed in all respects
- Original death certificate
- Copy of the medical cause of the death certificate
- Medical records of the life assured
- Age proof and identification document of the life assured (with photograph)
- ID document (with photo) of the nominee/claimant
- Proof of bank account of the claimant
Accidental or Unnatural Death (including suicide)
- Claim intimation form filled in all respects.
- Original death certificate
- Copy of the medical cause of death certificate
- Medical records
- Age proof and identification document of the insured person (with photo)
- ID document (with photo) of the claimant
- Proof of bank account of the claimant
- Jurisdictional police station attested FIR copy.
- Post-mortem report
Accidental disability and dismemberment claim
- Filled claim intimation form
- Original policy document
- Medical treatment records
- Age proof and ID document (with photo) of the life assured
- ID document of the claimant (with photo)
- Proof of bank account of the claimant
- Proof of your current address
Critical Illness
- Claim intimation form
- Original policy document
- Medical treatment records
- Age Proof and ID proof (with photo) of the insured person
- ID document of the claimant (with photo)
- Proof of bank account of the claimant
- Proof of your current address
Terminal Illness
- Claim intimation form
- Original policy document
- Medical records
- Age and ID proof (with photo) of the life assured
- ID proof (with photo) of the claimant
- Proof of bank account of the claimant
- Current address proof
Waiver of Premium
- Claim intimation form
- Original policy document
- Medical treatment records
- Age and ID proof document (with photo) of the life assured
- ID proof (with photo) of the claimant
- Proof of bank account of the claimant
- Your current address proof
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Exide Life Insurance Claim Settlement FAQs
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What is the average time taken for deciding on claims by Exide Life Insurance?
Exide Life Insurance processes the claims and conveys the decision promptly as quickly as possible.
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What factors affect the Exide Life Insurance claim process?
The nominee/claimant should submit proper documents completed in all respects for speedy claim processing.
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Can the life assured lodge the claim with Exide Life Insurance?
Yes, the life assured can lodge the accidental disability and dismemberment claim, critical illness and terminal illness claim.
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Where does Exide Life Insurance credit the claim proceeds?
Exide Life Insurance credits the claim amount to the bank account of the claimant.
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Can Exide Life Insurance reject any insurance claim?
Yes, if the documentation is not proper, the company can reject the claim. The company can also decline the claim if there is any misrepresentation at any stage by the nominee/claimant. No claim is payable on lapsed insurance policies.