ICICI Prudential vs Exide Life
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ICICI Prudential Life vs Exide Life Insurance 2024

ICICI Prudential and Exide Life both are one of the top life insurance providers in India. Both the companies offer comprehensive life insurance plans offering life cover from 10 to 99 years of age. The product portfolio of both of them is vast and caters to unique needs of the customers. The claim settlement ratio of ICICI Prudential is 97.82% whereas Exide Life has 99.09% CSR for the FY 2022-23. The companies provide benefits such as high sum assured, flexible premiums, customizable coverage, rider benefits, options for premium payment terms, maturity benefits, online discounts, non-smoker discounts and various plan options to choose from.

PLAN DETAILS Edit ICICI Prudential

ICICI Prudential

Edit exide-life

Exide Life

Number of life insurance plans and add-ons
Entry Age (Min-Max) 18-65 years 18-65 years
Policy Term 5 to 99 years 10 - 20 years
maturity Age (Min-Max) 23 to 85 years 5-70 years
Claim settlement ratio (CSR) 97.82% 99.09%
Asset under managment (AUM) 286676 Crores 1800 Crores
Solvency ratio 2 2.1
Policy Type
  • Term insurance
  • Whole life policy
  • Endowment policy
  • ULIP
  • Money back policy
  • Retirement plans
  • Savings plans
  • Child plans
  • Group Insurance plan
  • Term insurance
  • Endowment policy
  • ULIP
  • Annuity plans
  • Savings plans
  • Child plans
  • Group Insurance plan
Coverage Amount
  • Minimum- 2 Lakh
  • Maximum- No Limit
  • Minimum- 5 Lakh
  • Maximum- No Limit
Optional Additional Riders
  • Life term rider
  • Critical illness rider
  • Accidental death and disability rider
  • Life term rider
  • Critical illness rider
  • Accidental death and disability rider
Number of term plans 11 4
Exclusions Suicide or self inflicted Injury Suicide or self inflicted Injury
Death Benefit Yes Yes
Survival Benefit Yes Yes
Claims procedure Both (Online+offline) Both (Online+offline)
Type of the insurer Private Private
Online buying facility for life plans Yes Yes
Premium payment options Single/limited/Regular Single/limited/Regular
Online claim facility Yes Yes

Life Insurance Companies

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ICICI Term Plans

This plan offers an optional accidental death benefit of up to 2 crores, extended coverage until age 99, and includes coverage for Covid-19 claims.

Unique Features

  • Unlimited Maximum Sum Assured
  • Smart Exit Benefit
  • Waiver of Premium Benefit

iProtect Smart Term Plan (Pros)

  • Major Organ Benefit
  • Accelerated Critical Illness Benefit
  • Choose your Policy Term

iProtect Smart Term Plan (Cons)

  • No Loans Allowed
  • Modal Loadings
  • No Maturity Benefit

iProtect Smart Term Plan (Other Benefits)

  • Brain and Nervous System Benefit
  • Heart and Artery Benefit
  • Terminal Illness and Disability Enhanced Protection

iProtect Smart Term Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - NA
  • Maximum Maturity Age - 75 Years
  • Premium Payment Term - RP/SP/LP

The plan offers coverage for 64 critical illnesses, 360-degree protection, and enhanced safeguarding against accidental death.

Unique Features

  • 4 plan options
  • Live-stage coverage
  • Enhanced protection with riders

iProtect Return of Premium (Pros)

  • Income Benefit Post 60 Years
  • ROP with Life-stage cover
  • Survival Benefits

iProtect Return of Premium (Cons)

  • Income Benefits for a non-smoker
  • No Critical Illness Cover With LP
  • Critical Illness Caused by Sterility and Infertility

iProtect Return of Premium (Other Benefits)

  • Loyalty Discount of 5% & 2%
  • Critical Illness (CI) Benefit
  • Accidental Death Benefit Cover up to 2 Cr

iProtect Return of Premium (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - NA
  • Maximum Maturity Age - 85 Years
  • Premium Payment Term - 5 To 40 Years

ICICI Pru POS iProtect Smart

The plan provides coverage for road and train accidents, physical incapacity and comes with discounts for women.

Unique Features

  • 4 Payout Options
  • AIDS Cover
  • Accident Benefit of 2 Cr

POS iProtect Smart (Pros)

  • Life Coverage upto 99 Years
  • Buy Online With MWP Act
  • 34 Critical Illnesses Covered

POS iProtect Smart (Cons)

  • No Survival Benefit
  • No Loans Allowed
  • No ACI for Single Pay

POS iProtect Smart (Other Benefits)

  • Covers Suicide
  • Special Premium Rates for Women
  • Accelerated Critical Illness (ACI Benefit)

POS iProtect Smart (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - NA
  • Max Maturity Age - 75 Years (SP)
  • Premium Payment Term - 5yrs (RP), (SP), 10 yrs(LP)

ICICI Pru Protect N Gain

This plan provides accidental death cover with lump sum payouts for accidental death and disability, also offering to grow wealth through market-linked returns.

Unique Features

  • 4 Portfolio Strategies
  • Unlimited Free Switches of Funds
  • Systematic Withdrawal Plan

ICICI Pru Protect N Gain (Pros)

  • Surrender Value
  • Maturity Benefit
  • Accidental Disability Cover Upto 1 Cr

ICICI Pru Protect N Gain (Cons)

  • No Loan Benefit
  • Return of Mortality
  • Premium Allocation Charges

ICICI Pru Protect N Gain (Other Benefits)

  • Maturity Booster
  • Choose the PPT & PT
  • First Five Policy Years Partial Withdrawal Allowed

ICICI Pru Protect N Gain (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 60 Years
  • Minimum Sum Assured - 5L
  • Maximum Maturity Age - 90
  • Premium Payment Term - SP/RP/LP

ICICI Pru iShield

This policy includes benefits for death and disability, along with valuable add-ons like sum insured protector and claim protector.

Unique Features

  • Restore Benefit
  • 3 Payout Options
  • Terminal Illness Cover

ICICI Pru iShield (Pros)

  • Life cover Till the age of 85 years
  • Day Care Treatment Covers
  • Waiver of Future premiums For Permanent Disability

ICICI Pru iShield (Cons)

  • No Loan Benefit
  • Only Regular Pay is Available
  • No Survival Benefit

ICICI Pru iShield (Other Benefits)

  • Suicide Cover
  • Increasing Income Benefit
  • Pre and Post Hospitalisation Cover

ICICI Pru iShield (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 60 Years
  • Minimum Sum Assured - 50L
  • Maximum Maturity Age - NA
  • Premium Payment Term - Regular Pay

ICICI Pru iCare II

ICICI Pru iCare II is a term plan that lets you secure your family’s future, and allows you to choose the number of years for which you wish to pay the premiums.

Unique Features

  • Choose Your Cover
  • Accidental Death Cover
  • Unlimited SA Options

ICICI Pru iCare II (Pros)

  • 2 Crore Accidental Death Benefit
  • One Pay & Single Pay Option
  • Unexpired Risk Premium Value

ICICI Pru iCare II (Cons)

  • No Maturity Benefit
  • No Loans Allowed
  • Death Due To Drugs

ICICI Pru iCare II (Other Benefits)

  • Suicide Cover
  • Tax Benefit
  • Affordable Plan

ICICI Pru iCare II (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - Adaptable
  • Maximum Maturity Age - NA
  • Premium Payment Term - SP

A standard pure protection term plan that offers coverage on affordable premiums.

Unique Features

  • Choose premium payment term
  • Death by accident cover
  • Tax benefits available

ICICI Pru Saral Jeevan Bima (Pros)

  • Available For Online Buying
  • Max Sum Assured 1 Cr
  • Choose To pay Premium Once

ICICI Pru Saral Jeevan Bima (Cons)

  • No Survival Benefit
  • No Surrender Benefit
  • No Maturity Benefit

ICICI Pru Saral Jeevan Bima (Other Benefits)

  • Suicide Cover
  • Spouse Cover
  • Policy Revival Within 5 Years

ICICI Pru Saral Jeevan Bima (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 5 L
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP(5&10 Years)

ICICI Pru Precious Life

The plan covers cancer survivors, pre-existing conditions, post-surgery individuals and offers lump sum and income benefits.

Unique Features

  • Increasing Income Benefit
  • Non-smoker Benefit
  • Medical Reports On Request

ICICI Pru Precious Life (Pros)

  • 4 Flexible To Take Death Benefit
  • Loyalty Benefit For 5% RP, 2% LP
  • Unexpired Risk Premium Value or LP/SP

ICICI Pru Precious Life (Cons)

  • Extra Mortality Premium
  • No Loans Allowed
  • No Maturity Benefit

ICICI Pru Precious Life (Other Benefits)

  • Suicide Cover
  • Tax Benefit
  • Obesity, Diabetes, High BP, Asthma

ICICI Pru Precious Life (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 2 L
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP(5&10 Years)

ICICI Pru Life Raksha

A pure term plan that offers low coverage of 5 lakhs and premium discounts.

Unique Features

  • A 5-year regular pay policy
  • Immediate payout
  • Flexible premium payment options

ICICI Pru Life Raksha (Pros)

  • Death Benefit
  • Suicide Cover
  • Policy Revival Within 5 Years

ICICI Pru Life Raksha (Cons)

  • No Maturity Benefit
  • No Loans Allowed
  • No Surrender Benefit

ICICI Pru Life Raksha (Other Benefits)

  • 30 Days Grace Period
  • Tax Benefit
  • Affordable Plan

ICICI Pru Life Raksha (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 50 K
  • Maximum Maturity Age - NA
  • Premium Payment Term - 5 Years

ICICI Pru Loan Protect Plan

ICICI Pru Loan Protect protects your family from the outstanding home and car loans in your absence.

Unique Features

  • Flexible premium payment term
  • Fixed/Reducing cover option
  • Avail tax benefit

ICICI Pru Loan Protect Plan (Pros)

  • 125% Death Benefit
  • Suicide Cover After 12 Months
  • Surrender Value For One Pay Option

ICICI Pru Loan Protect Plan (Cons)

  • No Maturity Benefit
  • No Disability Cover
  • Only Single Pay Option

ICICI Pru Loan Protect Plan (Other Benefits)

  • Home Equity Loan
  • Commercial Property Loan
  • Land Loans

ICICI Pru Loan Protect Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 50L
  • Maximum Maturity Age - NA
  • Premium Payment Term - SP/5 Yrs

ICICI PRU Loan Protect Plus Plan

The plan covers death, accidental death, critical illness, and total and permanent disability offering loan benefits during periods of income loss.

Unique Features

  • Accelerated CI Cover
  • Total and Permanent Disability
  • Fixed / Reducing Coverage

ICICI PRU Loan Protect Plus Plan (Pros)

  • 125% Death Benefit
  • Suicide Cover After 12 Months
  • Surrender Value For One Pay Option

ICICI PRU Loan Protect Plus Plan (Cons)

  • No Suicide Cover For AD Benefit
  • No Tumor Treatment
  • No Pre Existing Diseases Cover

ICICI PRU Loan Protect Plus Plan (Other Benefits)

  • Choice of Premium Payment Terms
  • Tax Benefit
  • Choice of Coverage Options

ICICI PRU Loan Protect Plus Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 5L
  • Maximum Maturity Age - NA
  • Premium Payment Term - SP/5 Yrs

Exide Life Term Insurance Plans

Exide Saral Jeevan Bima

Saral Jeevan Bima is a standard term insurance plan that provides complete protection to your family's dreams that too at affordable rates.

Unique Features

  • Coverage up to 40 years
  • Affordable premiums
  • Flexibility in PPT

Saral Jeevan Bima (Pros)

  • Available for Online Buying
  • Choose to pay Premium Once
  • Max Sum Assured 50L

Saral Jeevan Bima (Cons)

  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

Saral Jeevan Bima (Other Benefits)

  • Suicide Cover
  • Spouse Cover
  • Policy Revival Within 5 Years

Saral Jeevan Bima (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 5L
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP(5&10 Years)

Exide Term with Return of Premium

It is a pure-term insurance plan that offers comprehensive coverage at an affordable price with ROP benefit.

Unique Features

  • No Medical Test
  • 100% ROP
  • Flexible PPT

Term with Return of Premium (Pros)

  • Maximum SA: 25 Lakh
  • Maximum Maturity Age: 99 Years
  • Discount For Females

Term with Return of Premium (Cons)

  • No Rider Benefit
  • No Policy Loan Allowed
  • Pre-existing diseases Not Covered

Term with Return of Premium (Other Benefits)

  • Tax Benefit
  • Suicide Plan
  • Large Sum Assured Discount

Term with Return of Premium (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 50 Years
  • Minimum Sum Assured - 10L
  • Maximum Maturity Age - 99 Years
  • Premium Payment Term - RP/SP/LP

Exide Term Rider

By paying an additional premium, Exide Life Term Rider can be added to the Exide Term Insurance plans and will provide enhanced coverage.

Unique Features

  • Tax Benefits
  • Affordable premiums
  • Avail up to twice life cover

Term Rider (Pros)

  • 3 Pay Out Benefits
  • Discount For Females
  • Flexible-Premium Paying Term

Term Rider (Cons)

  • 1 Yr Waiting Period For Suicide
  • No HIV Cover
  • No Discount For Females

Term Rider (Other Benefits)

  • 2 Optional Rider
  • Rebate On High Sum Assured
  • Standard premium rates for non-smokers

Term Rider (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 60 Years
  • Minimum Sum Assured - 50L
  • Maximum Maturity Age - 85 Yrs
  • Premium Payment Term - 5/8/10/12 Yrs

Exide Sampoorna Jeevan Plan

A plan that offers a 105 % sum assured as a death benefit, and comes with life insurance coverage for up to 75 or 100 years.

Unique Features

  • 5 Policy Bonus Option
  • Survival Benefit
  • Flexible Income Payouts

Sampoorna Jeevan Plan (Pros)

  • Guaranteed Income Benefit
  • Loan Benefit
  • Reduced Paid-Up Benefit

Sampoorna Jeevan Plan (Cons)

  • No Rider Benefit
  • Pre-Existing Diseases Not Covered
  • 1 Yr Waiting Period For Suicide

Sampoorna Jeevan Plan (Other Benefits)

  • Maturity Benefit
  • Surrender Benefit
  • Suicide Plan

Sampoorna Jeevan Plan (Eligibility Criteria)

  • Entry Age -12 Years
  • Max Entry Age- 60 Years
  • Minimum Sum Assured - 10L
  • Maximum Maturity Age - 100 Years
  • Premium Payment Term - LP

Exide New Fulfilling Life Insurance

A plan that offers life cover up to 85 years of age, and death benefits and promises safe returns with reduced paid-up benefits.

Unique Features

  • Loan Benefit
  • Periodic Survival Benefits
  • Discount For Females

New Fulfilling Life Insurance (Pros)

  • Surrender Benefit
  • Maturity Benefit
  • Simple Reversionary & Terminal Bonus

New Fulfilling Life Insurance (Cons)

  • No Alterations Allowed
  • Pre-Existing Diseases Not Covered
  • 1 Yr Waiting Period For Suicide

New Fulfilling Life Insurance (Other Benefits)

  • Double Sum Assured Benefit
  • 2 Rider Options
  • Discount For High Premiums

New Fulfilling Life Insurance (Eligibility Criteria)

  • Entry Age -15 Years
  • Max Entry Age- 50 Years
  • Minimum Sum Assured - Adaptable
  • Maximum Maturity Age - 85 Years
  • Premium Payment Term - 12, 16, 20 or 24 Yrs

Exide Smart Term Insurance Plan

A plan that offers three plan variants to suit the desired protection provides a return of total premiums paid on completion of the policy term.

Unique Features

  • Critical Illness and Accident Riders
  • Life covers up to 85 years
  • Reduced Paid-up Benefits

Smart Term Insurance Plan (Pros)

  • Surrender Benefit
  • Maturity Benefit
  • Flexible-Premium paying options

Smart Term Insurance Plan (Cons)

  • No Alterations Are Allowed
  • No Large SA Discount
  • No Policy Loan Allowed

Smart Term Insurance Plan (Other Benefits)

  • Suicide Cover
  • 2 Rider Options
  • Tax Benefit

Smart Term Insurance Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 60 Years
  • Minimum Sum Assured - 5L
  • Maximum Maturity Age - 75 Years
  • Premium Payment Term - LP/SP/RP

Exide Smart Term Plus Insurance

A comprehensive plan that offers accidental disability and dismemberment and critical illness rider, a 105% death benefit & family income payout for 5 or 10 years.

Unique Features

  • Guaranteed RoP on maturity
  • Life cover
  • 3 Payout Options

Smart Term Plus Insurance (Pros)

  • Reduced Paid Up Benefit
  • Flexible Payout Options
  • 3 Rider Options

Smart Term Plus Insurance (Cons)

  • 1 Yr Waiting Period For Suicide
  • No HIV Cover
  • No Pre-Existing Cover

Smart Term Plus Insurance (Other Benefits)

  • Surrender Benefit
  • Maturity Benefit
  • Suicide Cover

Smart Term Plus Insurance (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 60 Years
  • Minimum Sum Assured - 15L
  • Maximum Maturity Age - 80 Years
  • Premium Payment Term - 5, 8, 10 or 12Yrs

Exide Elite Term Plan Insurance

A comprehensive plan that offers accidental disability and dismemberment cover, 105% death benefit and a family payout option.

Unique Features

  • Discount of 4.17% on Premium
  • No Max Sum Assured
  • 3 Payout Options

Elite Term Plan Insurance (Pros)

  • Affordable Premiums
  • Flexible Payout Options
  • 3 Rider Options

Elite Term Plan Insurance (Cons)

  • 1 Yr Waiting Period For Suicide
  • No HIV Cover
  • No Pre-Existing Cover

Elite Term Plan Insurance (Other Benefits)

  • Term Extension by 5 or 10 Years
  • Exclusive SA Band of 50 L - 99.99 L
  • Discounts For Online Sales

Elite Term Plan Insurance (Eligibility Criteria)

  • Entry Age: 21 Yrs
  • Max Entry Age: 60 Yrs
  • Min Sum Assured: 50 L
  • Max Maturity Age: 80 Yrs
  • Premium Payment Term: 10 Yrs

Exide Mera Aashirvad Insurance

A plan that offers corpus for the child’s future, discount for high premiums accidental death disability and dismemberment rider benefit.

Unique Features

  • 105% of SA Death Benefit
  • Waiver of Premiums
  • Maturity Benefit

Mera Aashirvad Insurance (Pros)

  • Surrender Benefit
  • Exide Life Term Rider
  • Limited Pay Option

Mera Aashirvad Insurance (Cons)

  • 1 Yr Waiting Period For Suicide
  • No HIV Cover
  • No Discount For Females

Mera Aashirvad Insurance (Other Benefits)

  • Exide Life Critical Illness Rider
  • Loan Benefit
  • Exide Life Critical Illness Rider

Mera Aashirvad Insurance (Eligibility Criteria)

  • Entry Age: 18 Years
  • Max Entry Age: 45 Years
  • Min Sum Assured: 1 L
  • Max Maturity Age: 60 Yrs
  • Premium Payment Term: 5/8/10 Yrs

Life Insurance Articles

Life Insurance FAQs

Life Insurance FAQsSeptember, 2021

Naval Goel

Reviewed By: Naval Goel

Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.