Exide Life Insurance

Key Insights

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Claim settlement ratio (2019-20)

98.54%

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Inception

2001

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Presence

200+ offices

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Total death benefit paid

Rs 88.95 Crores

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Solvency ratio

2.08

About Exide Life Insurance

Headquartered in Bengaluru, Exide Life insurance company commenced its operations in 2001-02. Owned by HDFC Life insurance company, which is a joint venture between HDFC Ltd. and abrdn (Mauritius Holdings) 2006 Ltd. 

The Exide Life insurance company has over 200+ offices throughout India and more than 40,000 advisors on board. The products offered by the company are distributed through an agency, bancassurance, corporate agency & broking, direct channel, and online. 

With Pazcare employers can provide their employees with a group term life insurance policy from Exide Life Insurance company. You can get the best quotes for the Exide Life group term insurance policy and manage the policy using Pazcare’s tech-enabled dashboard. With easy HRMS integration, endorsement of future employees will be a seamless process. 

How to buy Exide Life group term life insurance from Pazcare?

These simple steps allow you to purchase Exide Life group term life insurance policy online from Pazcare.

Step 1: Visit https://www.pazcare.com/, click on the products drop-down and choose group term life insurance.

Step 2: You will be prompted to fill a form with details like your name, phone number, work email address, and the number of employees you wish to purchase Exide Life group term life insurance.

Step 3: Once you submit this form, one of our insurance consultants will get back to you to understand your policy requirements. We will also ask for the active employee data like the employee ID, the CTC, the designation, etc. to give you quotes.

Step 4: Once the data is submitted, we will get back to you with the best quotes for the group term life insurance policy from the Exide Life insurance company.

Step 5: You can accept the terms and conditions of the policy and pay the premium quoted for that year. The policy gets activated immediately after the payment is done.

Step 6: Our team will help you with the whole process and also take you through the Pazcare dashboard where you can manage the Exide Life group term life insurance policy.

For further information, write to us at support@getpaz.com or call our customer care at +91 78291 11300. Alternatively, connect with us on Whatsapp using the number +91 81973 79596.

Exide Life insurance company plans

The Exide Life insurance company offers two types of group term life insurance. Both are listed below for your perusal - 

  1. Exide Life group term life insurance - The Exide Life group term life insurance has been specially designed for employers to offer a comprehensive package to their employees. The minimum entry age is 18 years and the maximum is 79 years. The premium payment method has 4 options for the employers i.e. annual, half-yearly, quarterly, and monthly.
  2. Exide Life group micro term insurance - The Exide Life group micro term insurance is specially curated for microfinance institutions. The maximum sum assured can reach up to Rs. 2,00,000 per member. Additionally, this cover also gives an option to include spouses at an affordable premium cost. 

Exide Life group term life insurance renewal

The Exide Life group term life insurance can be renewed easily with Pazcare at the end of the policy term. Here is how you can renew your group term life insurance policy.

Step 1: Get in touch with Pazcare. Submit the form containing the necessary details like your name, name of the company, number of employees you wish to insure, work email address, and phone number.

Step 2: Once the submission is done, our life insurance consultants will get in touch with you and request you to share the following documents.

  • Active data of the employees - name, age, gender, designation, CTC, Covid status and vaccination report, etc
  • Claim history of the last 3 years along with the reason for the death of the employees (if any)
  • Policy copy

Step 3: After submitting these details you can choose any additional riders to the policy at your convenience. Once you decide the same, we will get back to you with the best quotes for your Exide Life group term life insurance policy.

Step 4: The next step is to acknowledge the terms and conditions of the policy and pay the premium for your Exide Life group term life insurance policy. 

Step 5: The policy gets activated immediately after paying the premium. Our team will guide you through the whole process and help you with the onboarding process too. 

We make sure that your Exide Life group term life insurance experience will be seamless using our Pazcare dashboard. Your employees can access their policy using Pazcare’s employee app which is available on both the app store and the play store.

Exide Life insurance company claim settlement ratio

The claim settlement ratio is the percentage of the claims settled by an insurer during a particular financial year. Hence, the higher the claim settlement ratio, the better chances of the claims getting settled. 

In the financial year 2021-22, the claim settlement ratio of Exide Life insurance company is 98.54%.

Exide Life group term life insurance premium

The Exide Life group term life insurance premium depends on various factors like

Designation & CTC of the employee

The designation and the CTC of the employee determine the premium of the group term insurance. For instance, some organizations choose the term insurance plan based on the CTC of the employees. So, higher CTC means a higher sum assured, hence the premiums may increase. Similarly, you can also give it based on designations. For example, 10 lacs for the executive level and 50 lacs for directors. 

Sum assured

Premium will also be based on how much sum assured the employer wants to offer. 

Risk category

The nature of the job and the risks involved for the employees also determine the group premium.

Claim history

In the case of renewals, the claims history for the last 3 years, the reason for the death of the employee also determines the premium of Exide Life group term life insurance policy.

Exide Life group term life insurance benefits

Tax benefits

As employers, when you pay the premium towards the Exide Life group term life insurance policy, you are eligible to avail of tax benefits under Section 37(1) of the Income Tax Act of 1961.

No medical tests needed

The group term life insurance policy does not require any medical tests to be taken before purchasing the policy. However, this depends on the terms and conditions of the policy and the insurer.

High claim settlement ratio

A high claim settlement ratio signifies the credibility of the insurance company. The Exide Life insurance company has a claim settlement ratio of 98.54% for the financial year 2021-22.

200+ branches

With more than 200 branches spread across the country, Exide Life insurance company is easily accessible for people situated in different parts of India. 

Exide Life group term life insurance claim

1

Collect the necessary documents

Firstly, collect all the originals of the necessary documents that have to be submitted to raise a death claim.

2

Submit these documents

Submit the supporting documents along with the policy details of the deceased employee.

3

Claim settlement

Once the policy details are verified along with the supporting documents and the information looks credible, the claim is settled directly with the nominee or the employer.

4

Contact us for assistance

Contact Pazcare for any queries or guided claim assistance at support@getpaz.com or call our customer care at +91 78291 11300.

1

Collect the necessary documents

Firstly, collect all the originals of the necessary documents that have to be submitted to raise the rider claim.

2

Submit these documents

Submit the supporting documents along with the policy details of the insured employee.

3

Claim settlement

Once the policy details are verified along with the supporting documents and the information looks credible, the claim is settled directly to the insured employee.

4

Contact us for assistance

Contact us for any queries or guided claim assistance at support@getpaz.com or call our customer care at +91 78291 11300.

Documents required to claim Exide Life group term life insurance

Here are the documents that you require to claim the Exide Life group term life insurance policy

  1. Duly filled claim form
  2. Original Death certificate of the insured employee or attested copy (death claim)
  3. Certificate of Insurance
  4. Photo ID proof of the claimant
  5. Current address proof of the claimant
  6. Cancelled cheque of the claimant
  7. Letter/confirmation from the employer

Why buy a group term life insurance
policy online from Pazcare?

  • Choose the suitable policy with our consulting approach
  • Custom-made plan with health and mental wellness add-ons
  • The tech-enabled Pazcare dashboard to manage endorsements
  • Integrate the dashboard with your HRMS tool
Pazcare DashboardPazcare app
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Exide Life Insurance customer care number

For any queries or assistance, reach out to us at any time. We provide 24X7 customer assistance.

Exide Life Insurance

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1800-419-0808

Available 24X7

Exide Life Insurance FAQs

How many branches does Exide Life insurance company have?

Exide Life insurance company is present in 200+ branches across India. 

What is Exide Life insurance company’s customer care number?

You can contact Exide Life insurance company on 1800-419-0808.

What is the claim settlement ratio of Exide Life insurance company?

The claim settlement ratio of Exide Life insurance company for the FY 2021-22 is 98.54%.

Where is the corporate office of Exide Life insurance company located?

The corporate office of Exide Life insurance company is located in Bangalore. The address for the same is - 3rd floor, JP Techno Park, No. 3/1, Millers Road, Bangalore - 560 001.

How do I go about renewing my Excide life insurance policy?

You can now easily renew your Excide life insurance policy with Pazcare. Reach out to our insurance consultants. Make sure you submit all the required documents and decide on the riders you need. Team will get back with the best quote shortly. After you agree with terms & conditions, just pay the premium and your policy shall get activated.