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Exide Smart Term Pro

Gets ₹1 Cr. Life Cover at just

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Life cover for full policy term
Return of total premiums on maturity
Option to pay premiums for 5, 8, 10 or 12 years only
Option for Family Income Payout for 5 or 10 years

Product Features	Premium Paying Term (PPT)
	5 Pay	8 Pay	10 Pay	12 Pay
Entry Age (years)	18-60	18-60	18-60	18-60
Policy Term (years)	15 to 40	15 to 40	15 to 40	15 to 40
Minimum Sum Assured (INR)	50 lacs	15 lacs	15 lacs	15 lacs
Maximum Sum Assured (INR)	As per the Board Approved Underwriting policy of the company	As per the Board Approved Underwriting policy of the company	As per the Board Approved Underwriting policy of the company	As per the Board Approved Underwriting policy of the company
Maximum Maturity Age	Age 80 years	Age 80 years	Age 80 years	Age 80 years
Premium Paying Mode	Mode Monthly and Annual	Mode Monthly and Annual	Mode Monthly and Annual	Mode Monthly and Annual

Eligibility for Exide Life Smart Term Pro

Eligibility criteria under the plan are:

Age of Entry: 18 to 60 years

Age of Maturity: 80 years

What are the Documents Required to Buy this Policy?

To buy the plan, the applicant needs to furnish the following documents:

Proof of Age
Proof of residence
Income proof
Recent passport-sized photographs
Medical reports

The insurance company may require the policy owner to furnish more documents upon their discretion.

How to Buy this Plan Online?

Exide Smart term pro plan can be bought online as well as offline:

To buy the plan online:

Step 1: Visit the official website of Policybazaar.

Step 2: Fill in the requirements, and as per the coverage, a plan will be suggested.

Step 3: Fill in other details like premium rate and term, riders, etc.

Step 4: Pay using their debit/credit card or net banking, and the policy will commence.

FAQs

Q1. What is the claim process under the policy?
Ans: A claim can be filed in case of death, accidental death, dismemberment, or disability of the nominees' policyholder. The life insured, their nominees or representatives can report a death claim. The steps for the same are as below:
- The first step is filling out the claim form online or in person. However, the documents need to be submitted in person at any Exide Life Insurance branch or central office.
- The claim processing involves all documents related to the policy and others as may be needed by the insurance company.
- Once the claim is evaluated, the company proceeds with claim settlement, and the life insured/their nominee will receive the pay-out.
Q2. How is the rate of premium determined?

Ans: The rate of premium depends on factors like age at entry and lifestyle habits. This plan also provides a lower rate of premium for women due to their increased life expectancy. However, another major factor is the sum assured and premium payment years that the policyholder has decided. Individuals looking to find out an approximate price can visit the website and check the premium rate by Exide Smart Term Plus Calculator for a better understanding.
Q3. What is the Grace period allowed under the policy?

Ans: Under the policy, the grace period is 15 days for a premium every month and 30 days in all other cases.
Q4. What are the rider benefits under the plan?

Ans: The riders available under the plan are critical illness and accidental death, disability and dismemberment benefits,
Critical illness benefit rider protects the life insured against the medical expenses incurred on the treatment of life-threatening diseases like heart attack, cancer, kidney failure, paralysis, etc.

With the accidental death, disability, and dismemberment rider, the nominee gets the full sum assured as an accidental death benefit in case of their death due to an accident. In case of disability or dismemberment, the life insured receives a part of the sum assured.
Q5. What are the reduced paid-up benefits under the policy?

Ans: If 2 years of premium have been paid and the is not surrendered, the policy attains the status of reduced paid-up upon the expiry of the grace period. Once the plan attains the status of reduced paid-up, its value is:
Total premiums paid ÷ Total premiums payable, and the result should be multiplied by the sum assured on death.

This is the reduced paid-up value, and it remains the same until the policy is revived/reinstated.
Q6. Can the policy be revived upon non-payment of premium?

Ans: The plan can be revived within 5 years from the date of the first unpaid premium. However, the policyholder has to submit proof of continued insurability and pay all the due premiums along with interest incurred for such a delay. It is the sole decision of the insurer henceforth to revive or reinstate the policy.
Q7. What is the procedure for surrendering policy?
Ans: The life insured can surrender his/her policy any time after the completion of the lock-in period. Once the lock-in period is complete, policyholders have to submit the following documents:
- Surrender Form
- Policy document
- Copy of photo identity proof of the life insured.
- Cancelled cheque of the account they want to surrender policy with
Once the life insured intimates the insurance company's surrender request and submits all relevant documents, Exide Life Insurance will take 15 days to process the request.