HDFC Life Term Insurance vs Exide Life Term Insurance

The significance of Term insurance can’t be ignored; in any case, picking the right one fitting your prerequisites is equally essential. Accordingly, you should explore various term plans, go through their provisions and advantages and opt for the ideal ones best suited to secure your family’s future. The following are the insights for term plans by two leading insurers – HDFC Life Insurance and Exide Life Insurance which you can check to find out the best term insurance plan based on your requirement.

HDFC Life Term Insurance Plans vs Exide Life Term Insurance Plans Overview

Parameters HDFC Life Insurance  Exide Life Insurance
Number of term insurance plan 3 5
E-services Online consultation, buying policy, policy renewal and claim settlement Online consultation, buying policy, policy renewal and claim settlement
Claim settlement ratio 99.07% 98.15%

Term Insurance policies – HDFC Life Insurance vs Exide Life Insurance

HDFC Life Insurance is a remarkable name in the insurance sector. It started its activities in 2000 and offers different life insurance products, including term insurance plans, retirement plans, savings, and investment plans, among others. All plans are carefully designed to fulfill various necessities of the customers at different life stages.

Exide Life Insurance has been an active insurance player since 2001. It is a 100% Indian-owned entity known for its excellent customer service and range of quality insurance products, including term insurance plans backed by various benefits and features and other plans like child plans, savings, investment plans, retirement plans, and more.

You can compare the term plans offered by HDFC Life Insurance and Exide Life Insurance on various parameters and choose the right one according to your requirement.

Term Insurance Plans by HDFC Life Insurance vs Exide Life Insurance

HDFC Life Term Insurance Plans 

 

Why choose HDFC Life Insurance Term Plans? 

  • HDFC Life term protection plans offer complete financial protection while catering to the growing needs of its customers.
  • The term insurance plans under HDFC Life term plans can be altered as per policyholder’s necessities choosing from various premium payment options and death benefit payout options.
  • HDFC term plans offer MWPA enrolment benefits, ensuring that the sum assured is legally protected for the insured’s family member.
  • HDFC Life Insurance is known for its quality customer service and easy buying and claim settlement process.
  • HDFC Life Insurance boasts of wide distribution and network channels, ensuring that its products are readily available across all parts of the country.

 

Exide Life Term Insurance Plans 

  • Exide Life Term Insurance Plans offer high life cover at a low premium price.
  • The insurer provides 5 well-thought term plans – Exide Life Elite Term Insurance PlanExide Life Smart Term ProExide Life Smart Term Edge, Exide Life Saral Jeevan Bima, and Exide Life Term with Return of Premium Plan.
  • Under Exide Life Term Insurance Plans, you get the flexibility to opt from different premium options, such as you pay premiums for a limited term and get the term plan benefits for the entire policy term.
  • Exide Life Insurance term plans offer maturity benefit and rider benefit along with the death benefit.

 

Why choose Exide Life term insurance?

  • Exide Life term protection plans can be customized as per the policyholder’s requirements.
  • The term plans are priced reasonably with a view not to put the burden on the policyholder’s pocket.
  • The insured get the flexibility to opt for different riders to enhance the base policy coverage.
  • Exide Life term plans are eligible for tax benefits under the prevailing norms of the Income Tax Act.

 

FAQs:

What is the maximum age up to which Exide Life term insurance provides life cover?

Exide Life Term plans provide life cover till the age of 80 years.

For what reason would it be a good idea for me to purchase an Exide Life term protection plan?

Exide Life term insurance plans come with several advantages and feature offering a comprehensive life cover. Its benefits include a death benefit, maturity benefit, rider benefit, affordable premiums, tax benefits, amongst others.

Is it safe to buy term insurance online?

Yes! It is absolutely safe and secure to purchase term insurance online as all the information is kept confidential, and payments are made through secured payment gateways.

For what reason would it be a good idea for me to purchase an Exide Life term protection plan?

Exide Life term insurance plans come with several advantages and features offering a comprehensive life cover. Its benefits include a death benefit, maturity benefit, rider benefit, affordable premiums, tax benefits, amongst others.

Is it possible to surrender the HDFC term insurance plan?

Yes, you can surrender your HDFC term insurance plan if you feel your liabilities in life are over.

Can I change the premium payment frequency of my term insurance plan?

Yes, you can change the premium payment frequency for your policy at any time in your policy term.

How can I intimate HDFC Life insurance about my term insurance claim?

You can report about your HDFC term insurance claim by visiting the nearest HDFC Life branch office or by logging into the official website of HDFC Life Insurance.

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