Exide Life Term Insurance FAQs

Yes! Investing in a term insurance plan will grant you tax benefits under Section 80C up to Rs 1.5 Lakh.

The free-look period associated with term insurance at Exide Life Insurance is 15 days. The free-look period is 30 days if policy is purchased through distance marketing.

No! The insurance company does not allow making any changes to the policy term after policy purchase.

Yes! With the help of suitable riders you can enhance your policy cover at a minimal premium price.

As per the law, the policyholder can nominate any person as the nominee. However, in practice, the closest of kin is the nominee.

Yes, a nomination is permissible in the name of a minor, but the policyholder has to nominate a major person to receive the proceeds on the minor's behalf.

The policyholder can appoint a fresh nominee at any time.

If there is any misrepresentation of information at any stage of the policy, the company can decline the claim.

Exide Life Insurance offers an exciting term insurance plan where you pay a premium for periods ranging from five to twelve years but enjoy life cover for the entire policy term.

Life cover in Exide Life Insurance term plan is available till the insured person attains 80 years of age.

One specific Exide Life Insurance term insurance plan, Exide Life Term with Return of Premium Plan does not insist on conducting medical check-up when issuing life cover. It is compulsory in all the other plans.

Yes, you can purchase an Exide Life Insurance term insurance plan online at the official website of Exide Life Insurance. You can also purchase term insurance online at InsuranceDekho.

Yes! Buying term insurance online is completely safe as all your details are kept confidential. Moreover, premiums are paid through secured payment gateways.

Ideally, your term insurance cover should be at least 10 times your annual income.

You will be able to avail Rs. 1.5 lakh from your taxable income for your term insurance plan premium. Note that the proceeds received from term insurance after the demise of the policyholder is also tax exempt under section 10(10D).

The list of documents includes age proof, proof of residence, salary slips/income proof, recent passport-sized photographs and medical reports.

The premium of the riders can be calculated separately and added to the pre-existing premium of the Exide Life Insurance.

Various factors like the insured sum, the policy term, gender, your age, and smoking habits determine the premium amount.

Yes, this calculator is an excellent tool which will provide you with an accurate premium amount depending on your inputs.

Smokers have to pay a higher premium when compared to non-smokers because the company deems it a high risk.