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Policyholders who have bought an insurance policy from Exide Life Insurance Co. Ltd. need to make their payments for the benefits they may have received. To reduce the risk of a policy being lapsed, policyholders must be mindful of the importance of paying premiums on time, whether online or offline.
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One of the most critical aspects of using the insurer's services is paying the premiums. This premium is paid on a variety of schedules, including annually, semi-annually, and quarterly. Exide Life Insurance calculates premiums based on factors such as age, type of job, medical conditions, policy name, and so on. Exide Life Insurance Online Payments can be made online or in person. Policyholders can pay their premiums online using various online payment methods. On the other hand, offline mode necessitates a trip to the branch office and payment of the premium in cash.
Exide Life Insurance Online Payment offers the following significant advantages.
Easy Process- The online payment process is fast and straightforward. It saves time by eliminating the need to wait in lines to make a payment. Furthermore, processing takes just a few seconds.
24x7 Services: Policyholders can approve and make purchases 24 hours a day, seven days a week since the internet is accessible everywhere and anytime.
No Charge- When you pay via the official website or the mobile app, the service is completely free. There are no service fees associated with using net banking. Exide life insurance policies provide comprehensive coverage at low rates, making them a popular option for many people.
Exide Life Insurance online payment enables policyholders to pay their premiums online simply and conveniently. Premiums can be paid in various ways, including credit or debit cards, Net Banking, UPI, and Bill Pay, digital wallets, and various offline and automatic payment options.
The steps to make a premium payment online are mentioned below:
visit Exide life insurance official website
Select ‘Pay Premium’ from the drop-down menu.
Fill in the ‘Policy Information’ area.
Confirm the policy and premium details.
Make the payment through any preferred method.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
The policyholders may pay their premiums in a variety of ways that are mentioned below:
Customers can use ‘My Account’ to make an online payment. They can log into the My Account section of the insurer's website. Policyholders can access their insurance policies online using the My Account feature. Customers may log in to their current accounts or create new ones, then complete the payment process. They can pay the premium through Net Banking, Credit Card, Debit Card, Wallets, and other online payment methods.
Customers can set up auto-debit on their bank account by having a Standing Instruction (SI) and paying premiums through their net banking account through e-NACH Automated Payments. They have to fill out the e-NACH form and send it along with a cancelled check to Exide Life Insurance Co. Ltd. headquarter. They can then set up automatic payments.
One can pick the Standing Instruction choice to pay their premiums with their credit card and enjoy the convenience of standardized payments. This service is provided by Fast Pay for 44 banks.
For most sectors, credit and debit cards are the de facto default method of accepting online payments.
Policyholders can pay their premiums electronically using the NEFT (National Electronic Fund Transfer) or eCMS services. They must add or register Exide Life Insurance as a beneficiary in their net banking account to do so. This will ensure that premium payments are made regularly through Net banking/RTGS eCollect.
TechProcess, established in 2000, is a leading online and mobile payment services provider. It helps the policyholder choose the date from which their premium payment will be debited from their bank account. To use this service, policyholders must bring a cancelled check and the Auto Debit Mandate to an Exide Life branch.
In a nutshell, a Direct Debit is an order to one’s bank from the customer that authorizes their company to withdraw funds directly from their account when payment is due. It is generally less expensive than card payments and needs less accounting and payment administration.
Your premium is decided on age at which you buy the policy and remains same, throughout your life
Premiums can increase between 4-8% each year after your Birthday
Your policy application could be rejected or premiums increase by 50-100%, if you develop a lifestyle disease
One can pay premiums in two ways: online and offline. Customers must visit their nearest branch office and pay the sum in cash, check, or demand draft if they are paying offline. On the other hand, online mode involves payment through net banking, debit card, credit card, e-wallets, and other methods.
The only hurdle of paying premiums offline is- chances are higher that you’ll have to wait for hours in a long queue for paying your premium, which is tiresome. Furthermore, offline payment centers are not available 24 hours a day, seven days a week, and users must access them at specific times.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
The following details are required for initiating Excide Life Insurance online payment:
Provide a valid and accurate cell phone number and email address.
The receipt will be emailed to your email address, and the policyholder must pay the fee electronically.
There should be no involvement from a third party.
If the premium amount is deducted from your bank account, but an error page appears, you will send a receipt to your email address three working days after receiving the payment.
If you're retrying, make sure your bank account/card hasn't already been debited/charged with the balance of the previous transaction.
If your account has been debited or paid, do not pay again.
Wait three days for the insurer to mail you the receipt.
The online portal will accept the cards issued by domestic banks.
Bank Cards from other countries will not be allowed.
A5: To settle a claim with Exide Life Insurance, you must take the following steps:
A7: Exide Life Insurance offers two riders to choose from if you want more life insurance:
A8: The following are some of the advantages of having an Exide Life Term Rider:
A9: The following are some of the benefits and features of the Exide Life Insurance Mobile app:
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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