In the year of 2014, ING Vysya life insurance changed its name to Exide life insurance Company, subsequent to the regulatory approval, with the exit of the ING group from the insurance venture.
There will be no change in the board of directors. Exide industries had been holding a limited stake in the ING Vysya life insurance venture for around 8 years and now acquired 100% ownership of the company. It remains as a fully owned company of Exide industries and will not partner up with any foreign investors. As Exide life insurance the company is committed to further invest and grow throughout the years.
The company will continue to honor its obligations of its insurance policies issued under the name of ING Vysya Life insurance company and there is no need of old policy holders to fear the change in the name. The change in the brand name to Exide life insurance is just undertaken to affirm the long term commitment of Exide insurance to the life insurance business sector.
Plans Offered by Exide Life Insurance
1. Exide Life Term Protection Plans
l Exide Life Smart Term Plan - Simple and affordable Exide life insurance plans that provide you high coverage at lower cost.
Plan Type
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Premium Payment Type
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Entry Age
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Policy Term
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Minimum Sum Assured
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Smart Term Classic Plan
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Single Pay
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18-65 years
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10-30 years
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Rs. 5 Lakhs
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Smart Term Classic Plan
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5 Pay (Limited Pay)
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18-65 years
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10-30 years
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Rs. 10 Lakhs
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Smart Term Classic Plan
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Regualr Pay
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18-60 years
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12-30 years
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Rs. 5 Lakhs
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Smart Term Step Up Plan
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5 Pay (Limited Pay)
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18-60 years
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10-30 years
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Rs. 10 Lakhs
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Smart Term Step Up Plan
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Regular Pay
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18-60 years
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12-30 years
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Rs. 10 Lakhs
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Smart Term Comprehensive Plan
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Single Pay
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18-65 years
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10-30 years
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Rs. 10 Lakhs
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Smart Term Comprehensive Plan
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Regular Pay
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18-60 years
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12-30 years
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Rs. 10 Lakhs
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l Exide Life Term Rider - An add-on creation that can be latched on to any Exide life insurance product to increase coverage
2. Exide Life Savings and Investment Plans
Plan Name
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Description
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Policy Term
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New Fulfilling life
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Offers life insurance coverage up to 85 years with maturity benefit of sum assured along with applicable bonuses
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Till policy holder is of 85 years of age
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Wealth Maxima
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A ULIP that offers life cover at each life stage and gives you flexibility to choose from 6 types of funds
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10 years, 15-20 years
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Guaranteed Income Insurance Plan
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Pay premiums for limited time and avail monthly or annual income for remaining policy term along with maturity benefit
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15, 20,24 and 40 years
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Jeevan Uday
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Undergo this scheme without any medical examinations
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10,15 and 20 years
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Assured Gain Plus
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Comes with a limited premium payment option and lumpsum maturity benefit
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10, 12 and 15 years
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Secured Income Insurance
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Traditional life insurance plan that disburses maturity benefit as monthly incomes and comes with limited premium payment or regular modes
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Premium paying term of 5 years - 10-20 years, Premium paying term of 7 years - 12-20 years, Premium paying term of 10 years - 15-20 years
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Income Advantage
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Life insurance cover along with returns in the form of regualar income to meet your financial needs
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16, 24 and 30 years
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Star Saver
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Comprehensive life cover that aims to satisfy long term financial goals
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10, 12 and 15 years
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3. Exide Life Pension Plans
These are retirement plans that provide a regular source of income during your retirement.
Plan Name
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Description
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Policy Term
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Golden Years Retirement Plan
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Guaranteed vesting and loyalty benefits with 3 options of premium payment terms
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Single Pay - 10-40 years
Limited Pay - 5-42 years depending on premium payment
Regular - 10-42 years
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Immediate Annuity with Return of Purchase Price
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Comes with a single premium payment option with death benefit and returns of purchase price, in case of death within 30 years
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NA
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Benefits of Exide Life Insurance Plans
Exide life insurance is one of the leading life insurance providers in South India and is growing its franchises in other parts of the country as well. It has various product offerings including long term protection and savings solutions with a strong traditional product portfolio and consistent bonus track record. Exide life insurance is ranked amongst the top ten most dependable life insurance brands in India, according to the recent survey done by the Economic Times.
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