Exide Life Insurance’s Surrender Process
- Please bring the following documents: an original policy bond, an original photo ID proof, a cancelled customized check/latest bank statement, and a copy of your PAN card.
How do I break an Exide life insurance policy?
The following processes must be undertaken if the policyholder wishes to surrender his or her life insurance policy or make a partial withdrawal from the policy fund:
Surrender Policy: The following documents, as well as the reason(s) for policy surrender, must be submitted to the nearest Exide Life Insurance branch:
- If the canceled cheque does not have a pre-printed name or account number, or if the cheque mentions a new account, a passbook copy or bank statement with the pre-printed name and account number is necessary.
Partial Withdrawal: The following documents, along with the reason(s) for the partial withdrawal and the pay-out form, must be given to the nearest Exide Life Insurance branch:
- For the withdrawal request, a copy of the CI or YPD was submitted (carry original documents for verification in the branch)
- If the canceled cheque does not have a pre-printed name and account number, or if the cheque refers to a new account, a passbook copy or bank statement with the pre-printed name and account number is necessary.
How do I cancel my life insurance policy?
- The insured must call the life insurance company and inform them of their desire to cancel the coverage.
- Typically, the insurance provider offers the insurer alternative options and solutions.
- If the insurer still desires to cancel the life insurance policy, they can do so by downloading the cancellation form from the bank’s website or picking one up at a branch office and filling out the necessary information.
- When the cancellation paperwork is submitted to the bank, the bank will begin the cancellation process.
- If the policy is terminated after the cooling-off period, there will be no refund.
How do I close a life insurance policy before maturity?
After three years of policy premiums have been paid, all LIC policies can be surrendered. Even if you have the option to surrender your insurance, it is recommended that all policyholders do not do so. Still, if you give up, make certain that:
How can I check my Exide policy status?
Exide Life Insurance is one of India’s major insurance firms, offering a diverse range of insurance products to meet the diverse needs of its customers. Exide Life Insurance, like other participants in the insurance industry, recognizes the value of the internet and how it can make doing business with the insurance firm more convenient for its customers. You may quickly check the status of your policy if you have a secure internet connection and a smartphone or laptop. We’ll go over some of the ways you may verify the status of your insurance.
If you are an existing customer
If you are an existing customer, you must follow the steps outlined below to log in to the portal:
- You will be sent to a different page. Click ‘Submit’ after entering your ‘Username.’
- You will be prompted to enter your password before being able to log in to the site.
If you are a new customer
If you are a new customer, you must follow the steps outlined below to log in to the portal:
- You will be sent to a different page. Just beside ‘New User,’ click on ‘Register Now.’
- Enter your policy number, date of birth, and mobile phone number. For security reasons, you must enter the code exactly as it appears on your computer screen.
- Select ‘Submit’ from the drop-down menu. You will then be prompted to create a username and password with which to access the portal.
- You will be redirected to a different page. Please enter your policy number as well as your date of birth. Select ‘Submit’ from the drop-down menu.
- After that, you’ll be prompted to generate a new password before being able to access the portal.
Self-Services
The insurance provider can use this feature to provide you with a variety of policy-related services. The following are the steps to use this service:
- Select ‘Self Services’ from the ‘Customer Service’ menu. You will be sent to a different page.
- Fill in your birthday, policy number, and phone number. Select ‘Generate OTP’ from the drop-down menu.
- A ‘One-Time Password’ (OTP) will be emailed to your registered mobile number. After entering the OTP, you can use the ‘Self Service’ feature.
Other ways through which you can check the status of your policy
- The Exide Life Virtual Assistant, a chatbot created by the insurance firm, can be used. It can be seen on the insurer’s official website. You can either choose your preferred language and click on ‘I want to buy a new insurance’ or ‘I am an existing client’, or you can just start typing your message in the message box, after clicking it. If you have a microphone, you can type your question as a message. The assistant will then assist you with your problem.
- From Monday to Saturday, from 9:00 a.m. to 7:00 p.m., you can call the toll-free number 1800 419 8228 or the number +91 80 4134 5444 for policy servicing.
SMS service
You can utilize the SMS service by sending a message to the number 09880888228 in a preset format. The following is the format for the many services you can use:
For example, if you wish to see the specifics of your fund, enter Fund and send it to 09880888228 (where 1234567 is your policy number).
Branch locator service
As a result, if you are an Exide Life Insurance customer, checking the status of your policy is quite simple. You may check the status of your insurance from the comfort of your own home if you have a secure internet connection and a laptop or smartphone.
Who is the owner of Exide Life Insurance?
HDFC Life is the sole owner of the company. The firm is in charge of assets of INR 18,381 crores (as on 31 March, 2021). Exide Life Insurance sells its products through a variety of outlets, including the internet.
What is survival benefit in Exide life insurance?
In addition to providing life insurance coverage, the My Money Back Plan also provides the insured with guaranteed pay-outs known as Survival Benefit. The insured will get a specified proportion of the basic sum assured if he continues to pay the requisite premium and survives certain pre-determined periods.
How do I cancel my policy online?
To cancel your policy online, go to the insurer’s website and fill out the form there. You can also start the procedure by sending an email to customer support if your insurance company allows it (check their website or ask them).
Do I get my money back if I cancel life insurance?
If I cancel my life insurance coverage, do I get my money back? If you cancel term life insurance during the free look period or in the middle of the billing cycle, you will not receive a refund. If you cancel a whole life policy, you may receive some money from the cash value, but any profits are taxed as income.
Can I cancel my insurance policy and get my money back?
You should be entitled to a full refund of the remaining cost if you opt to terminate your insurance coverage for any reason. Depending on how long you’ve been insured, a deduction will be made from your payment. You will receive a refund of the majority of your payment if you have only been covered for a short period of time. Most premiums, for example, cover six months of coverage. If you pay $300 for six months then cancel after one month, you will receive a return of around $250. However, you should carefully study your policy. If you cancel your reservation early, you may be charged a fee.