Quick Overview

Exide Life Insurance was a well-known private life insurer in India that merged with HDFC Life in 2022. Existing policyholders continue to hold their original Exide Life policies with unchanged benefits and documents, while all servicing and claim settlements are now handled by HDFC Life. New customers can no longer purchase Exide Life Insurance policies, but they can access similar products through HDFC Life.

The journey of Exide Life Insurance began in 2001 as ING Vysya Life Insurance, a joint venture between ING Group and Vysya Bank. Over time, ING exited the Indian market, and Exide Industries acquired full ownership in 2013. In 2014, the company was rebranded as Exide Life Insurance. 

Under Exide Industries, the insurer expanded its reach significantly, especially across South India and tier-2 and tier-3 cities, building a strong advisor-led distribution channel. Exide Life Insurance was one of India’s established private life insurance companies, offering protection, savings, retirement, child, and investment-oriented policies. The company served over a million customers through a large advisor network spread across more than 200 cities.

Talk to Ditto’s IRDAI-certified advisors for free and choose the right term insurance plan. Book a call or chat on WhatsApp now.  

Exide Life Insurance and HDFC Life: The Merger

A major turning point came in 2021 when HDFC Life announced the acquisition of Exide Life in a ₹6,687 crore deal, completed in 2022. Following IRDAI approval in 2022, Exide Life Insurance merged with HDFC Life Insurance, making HDFC Life one of the largest private insurers in India. After this merger, Exide Life stopped operating as an independent insurer, and all operations transitioned under HDFC Life.

For policyholders, this change was largely seamless. Key outcomes after the merger:

    • Existing policyholders retain their Exide Life Insurance policies unchanged
    • Policy name, benefits, and documents remain the same
    • Policy servicing and claims are now handled by HDFC Life
    • Exide Life policies are no longer available for purchase
    • Claims must now be filed with HDFC Life, following its due diligence and settlement process

Before the merger, Exide Life Insurance maintained respectable operational metrics:

Metrics of HDFC Exide Life Insurance

MetricValue (2021–22)
Amount Settlement Ratio (ASR)96.29%
Claim Settlement Ratio (CSR)99.09%
Complaint Volume (per 10,000 claims)54.0

Insights: Exide Life Insurance maintained healthy claim payment performance, with an ASR comfortably above the 95% benchmark, indicating balanced settlement across both large and small claims. The company also recorded a strong CSR above 99%, reflecting high reliability in settling claims received. However, the complaint volume was relatively higher compared to some leading insurers, which is one reason why integration with HDFC Life’s servicing framework was expected to improve overall customer experience and support quality.

Current Operational Metrics of HDFC Life

MetricHDFC Life’s MetricsIndustry Average
Claim Settlement Ratio (FY 22–25)99.55%98.66% 
Amount Settlement Ratio (FY 21–24)93.994.07% 
Annual Business Volumes  (₹ crore) (FY 22–25)₹30,560₹3,411.73 
30-day Claim Settlement (FY 22–25)98.93%97.48% 
Amount Paid in Death Claims (₹ crore) (FY 22–25)1,678.1₹195.05 
Volume of Complaints per 10,000 Claims (FY 22–25)1.3317.67
Solvency Ratio (FY 22–25)1.94x2.04x

Insights: HDFC Life’s metrics indicate strong claim settlement efficiency and customer servicing, with higher claim settlement and faster 30-day settlement performance than industry averages, along with significantly lower complaint volumes. While its solvency ratio is slightly below the industry average, it still remains comfortably above regulatory requirements, indicating adequate financial stability.

Take Note: Before you pick a policy, run through a quick term insurance checklist so you don’t miss important details like coverage amount, policy term, and riders.

CTA

Types of Plans Offered by HDFC Exide Life Insurance

Since Exide Life Insurance plans are no longer sold, customers now purchase policies from HDFC Life instead. Here are the major plan categories available today.

HDFC Life Insurance Plans: Click 2 Protect Supreme Plus

Click 2 Protect Supreme Plus is HDFC Life’s flagship term insurance plan offering flexible coverage options along with useful features such as the Life Stage Benefit, which allows policyholders to increase cover during key life events, the Premium Break Benefit, which lets policyholders temporarily pause premiums while maintaining coverage, and the Smart Exit option, which allows surrendering the policy after long-term continuation and receiving premiums paid back, subject to conditions.

Refer to this YouTube video if you want more information on the Click 2 Protect Supreme Plus plan.

HDFC Life ULIP Plans: HDFC Life Sampoorn Nivesh Plus

The HDFC Life Sampoorn Nivesh Plus ULIP plan combines investment and insurance, allowing policyholders to invest in market-linked funds while maintaining life cover. It suits individuals with long-term wealth creation goals who are comfortable with market risks.

HDFC Life Endowment & Savings Plans: Sanchay Plus

Sanchay Plus offers guaranteed or predictable income options with life cover. It is commonly chosen by individuals looking for:

    • Guaranteed income
    • Retirement support
    • Family financial stability
    • Conservative savings plans

Exide Life Insurance Term Plans 

Existing policyholders may still hold the Exide Life Smart Term Plan.  This plan continues unchanged for existing customers, although it is no longer available for new buyers.

Exide Life Insurance Claim Settlement Process

After the merger, claims for Exide Life Insurance policies must be filed through HDFC Life.

How to File a Claim with HDFC Exide Life Insurance

Policyholders or nominees should:

    1. Inform HDFC Life about the claim through branch offices, website, or customer care.
    2. Submit claim intimation details online or offline. You can use this HDFC Life website to register your claim using the  ‘Claim Registration’ option under Quick Links.
    3. Provide necessary documents.
    4. Track your claim status through the ‘Track Request/Application/Claim’ section on the same website.

Quick Note

HDFC Life now performs claim verification and settlement under its own due diligence framework. Keep in mind that HDFC Life’s Claim Settlement Ratio over the last three years (99.55%) is the third highest in the industry. Therefore, you can rest assured that your genuine claims will be handled with utmost care. 

Documents Required for HDFC Exide Life Insurance Claims

Documents required for an HDFC Exide Life Insurance claim are similar to any term insurance claim:

    • Claim form
    • Original policy document
    • Death certificate
    • Identity proof of the nominee
    • Medical records (if applicable)
    • Bank details of the nominee
    • FIR/post-mortem report in accidental cases

You can refer to this blog on the documents required for a term insurance claim for an in-depth look.

Why Choose Ditto for Term Insurance?

At Ditto, we’ve assisted over 8,00,000 customers with choosing the right insurance policy. Why customers like Aaron below love us:

Exide Life Insurance
    • No-Spam & No Salesmen
    • Rated 4.9/5 on Google Reviews by 15,000+ happy customers
    • Backed by Zerodha
    • 100% Free Consultation

You can book a FREE consultation. Slots are running out, so make sure you book a call or WhatsApp us now!

Conclusion

The journey of Exide Life Insurance ended with its merger into HDFC Life, but policyholders faced no disruption. Policies remain valid with unchanged benefits, while customers now benefit from HDFC Life’s stronger servicing network and claim infrastructure. The insurer offers comprehensive term, savings, and investment solutions that continue the protection journey for new customers.

If you are looking for comprehensive term coverage that align your long-term goals, we recommend the best term insurance companies for 2026.

Disclaimer

HDFC Life Insurance is a partner insurer with Ditto. All the information given on this blog is sourced from the insurer’s official website and other publicly available resources. If you’ve purchased your policy through us, you can reach out to our advisors for help with any aspect of your policy, including servicing, claims, or follow-ups with the insurer. If you want more clarity regarding how we rate plans/insurers, you can refer to Ditto’s Cut.  

Frequently Asked Questions

Is Exide Life Insurance a good company?

Yes, Exide Life Insurance maintained strong claim settlement performance before merging with HDFC Life, which further strengthened servicing and claims support.

How to buy Exide Life Insurance online?

Exide Life policies are no longer sold after the merger with HDFC Life. Policyholders can, however, still renew their existing Exide policies.

Do I need to change my Exide Life Insurance policy after the merger?

No action is required. Your policy continues unchanged under HDFC Life servicing.

Where should Exide Life policyholders file claims now?

All claims must now be filed with HDFC Life, which manages settlement and servicing.

Will my Exide Life Insurance policy benefits or premiums change after the merger?

No. Your policy benefits, premium amount, and policy terms remain exactly the same as originally issued. Only servicing and claim settlement are now handled by HDFC Life.

Last updated on: