Exide Life Smart Term Edge Plan

Exide Life Smart Term Edge is a non-linked non-participating individual life term insurance plan that provides financial protection to your loved ones in case of your death during the policy period. This policy comes with three variants – Classic, Step-up and Comprehensive. With this term life insurance, you can ensure the financial safety of your family in your absence. And if you survive till the end of the policy term, the maturity benefit shall be payable to you as per your chosen plan. Keep reading this page and learn more about the Exide Life Smart Term Edge coverage.

Exide Life Smart Term Edge Variants

You’ll get coverage under this policy as per your chosen plan

Sum Assured on Death is the highest of the following:

1. 10X the Annualized Premium if the insured’s age is 18-44 years or 7X the Annualized Premium if his/her age is 45 years or above
2. Sum Assured on Maturity
3. Absolute Amount Assured to be paid on the death of the Life Assured
4. 105% of the total paid premiums

Exide Life Smart Term Edge Rider Options

Customize your term life insurance by adding any of the following riders to it.

Exide Life Death, Disability and Dismemberment Rider: Under this cover, if you suffer from an accident and it results in death, dismemberment or total and permanent disability, the insurer will pay a percentage of the sum assured as follows:

1. Death – 100% of the sum assured
2. The dismemberment of thumb and index finger of the same hand – 25% of the sum assured
3. The dismemberment of any limb – 50% of the sum assured
4. The dismemberment of two or more limbs -100% of the sum assured
5. Loss of speech – 25% of the sum assured
6. Loss of hearing in both ears – 50% of the sum assured
7. Loss of use of any one limb – 50% of the sum assured
8. Loss of use of two or more limbs – 100% of the sum assured
9. Total and permanent disability – 100% of the sum assured

The above-mentioned benefits shall be payable to you as follows:

1. 10% of the above-mentioned benefit on the date of admission of the claim
2. 30% of the above-mentioned benefit on the date of admission of claim or 180 days after being diagnosed with permanent total disability
3. 30% of the above-mentioned benefit on the date of admission of claim or one year after being diagnosed with permanent total disability
4. 30% of the above-mentioned benefit on the date of admission of claim or two years after being diagnosed with permanent total disability

In case you die before the payment of the last installment, the same will be payable to your beneficiary.

Note: The total amount payable under this rider shall not exceed 100% of the rider sum assured.

Exide Life Critical Illness Rider: If you are diagnosed with any of the following critical illnesses during the policy term, the rider sum assured is payable to you as per the option you choose:

Option A: Covering 4 Major Critical Illnesses:

1. Cancer of Specified Severity
2. First Heart Attack – of specified severity
3. Stroke resulting in Permanent Symptoms
4. Open Chest Coronary Artery Bypass Graft (CABG)

Option B: Covering 25 major Critical Illnesses:

1. Cancer of Specified Severity
2. First Heart Attack – of specified severity
3. Stroke resulting in Permanent Symptoms
4. Open Chest Coronary Artery Bypass Graft
5. Kidney Failure Requiring Regular Dialysis
6. Major Organ/ Bone Marrow Transplant
7. Benign Brain Tumour
8. Permanent Paralysis of Limbs
9. Coma of Specified Severity
10. Blindness
11. Major Burns
12. Heart Valve Surgery
13. Surgery of Aorta
14. Motor Neurone Disease with Permanent Symptoms
15. Multiple Sclerosis with Persisting Symptoms
16. Aplastic Anaemia
17. End-Stage Liver Disease
18. Chronic lung disease
19. Alzheimer Disease
20. Parkinson’s disease
21. Loss of speech
22. Major Head Trauma
23. Primary Pulmonary Hypertension
24. Systemic Lupus Erythematosus with Lupus Nephritis
25. Apallic Syndrome

The maximum sum assured under this rider is subject to INR 25 lakhs or that of the base policy, whichever is lower.

Note: The lump sum amount is payable to you only once on the diagnosis of any one of the covered Critical Illnesses. Upon such payment, the rider shall automatically stand terminated.

Grace Period

Under this policy, you’ll get a grace period of 15 days if you pay the premium monthly, otherwise, the grace period will be 30 days. During the grace period, you can pay your due premium without any late charges.

Free Look Period

You will have a free look period of 15 days from the date of receipt of the policy document to review the terms and conditions. And if you have any objections to the same, you can return the policy stating the reasons for the objections and get a refund of the paid premium after a deduction of medical examination expenses, stamp duty charges (if applicable) and proportionate risk premium for the period on the cover. In case the policy is sourced through Distance Marketing, the free look period will be 30 days from the date of receipt of the policy document.