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Direct Debit Sign Up(ECS/SI)

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Sign up for Direct Debit (ECS/SI) today to enjoy the ease and convenience of Automatic Premium Payment.

Mandatory Fields Please complete the form in CAPITAL LETTERS
Step 1. Your Policy Details
Choose Plan Name
Enter 8 digit Policy Number which you can find in your Policy Bond
Choose Premium Payment Frequency

Choose your preferred debit date for your automatic premium payment:

Incase the preferred date opted is beyond 14 days from the premium due date, Exide Life Insurance Company Ltd would set the debit date to the next available preferred date. Premiums will be debited on preferred debit date chosen by you.
Step 2. Your Bank Account Details

Bank Account holder details

As per Bank records

Relationship of Bank A/c Holder with Policyholder


 

I have read and agree declaration details and terms and conditions.
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  1. I/We hereby declare that the particulars given above are correct and complete in all respects. if the transaction is delayed or not effected for incomplete or incorrect information or due to non-availability / insufficient funds in the said bank account, I will make alternative arrangements for payments of the said premium contribution and will not hold Exide Life Insurance Company Limited or Bank responsible for the same.
  2. I/we authorize the representative of Tech Process Solutions Ltd. carrying this Direct Debit Mandate form to get it verified and executed.
  3. I/We unconditionally and irrevocably authorize the bank to debit my account for charges towards mandate verification and transactions bounced as applicable.
  4. I agree to any increase in deductions due to change in government regulations/ service tax rates/scheduled increase as per the product features or change in frequency of premium payment and authorize Exide Life Insurance Company Limited to effect it with the bank directly. No fresh mandate form will be required.
  5. I/We agree for the bank account mentioned in this mandate to be used by Exide Life Insurance Company Limited to credit any policy related payouts payable to me and will be used when primary account holder is the policyholder of the policy and the policy is not assigned to a third party.
  6. In the event if my account has been debited with incorrect premium or if there is any dissatisfaction with the Direct Debit procedure of Exide Life Insurance Company Limited, Bank or any service provider the first resource shall be to approach Exide Life Insurance Company Limited for rectification or resolution.
  7. I understand that no premium notice / reminder or premium receipt will be sent for premiums paid through Direct Debit mode.
  8. I/We have read the terms and conditions written overleaf and agree to the same.
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  1. The mandate should be submitted any branch of Exide Life Insurance Company Limited at least 30 days before the due date. All the outstanding premiums to be paid through Cash/Cheque.
  2. Direct Debit Mandate will be effective from the next due date provided the policy status is In Force. For payments made through Direct Debit Mandate the Unit Price for fund allocation will be on the due date.
  3. Periodicity mentioned in the mandate form should be the policy premium payment frequency. In case periodicity mentioned is different, please submit separate request for change in frequency of premium payment.
  4. Photo copy of the cheque or duly filled in mandate verified by the authorised signatory of the bank is mandatory.
  5. Any correction, alteration, cancellation and using of whitener used shall not be entertained in the mandate. In such case a fresh mandate form needs to be submitted.
  6. The policyholder agrees that in the event he/she is disatisfied with any portion of the facility or with any of the terms and conditions or alterations thereto, his/her sole and exclusive remedy is to discontinue the use of the facility and switch to other modes of payment. For more information, refer to policy document.
  7. Any request for de-activation of auto debit facility has to be submitted at least 15 days prior to the next premium due date.
  8. For changing the bank details, request is to be given to the respective Exide Life Insurance Company Limited branch along with a new mandate form duly filled and attached with the all mandatory documents.
  9. It is possible that due to some technical reasons premium may not be debited on the debit date and may be delayed by few days. Kindly ensure that availability of funds for at least 7 days before and after debit date to avoid dishonors.
  10. If any Bank Orders are issued by RBI to the bank from where premium is to be debited or the bank is not participating in clearing operations due to any reason, Direct Debit demand will not be raised by Exide Life Insurance Company Limited and premium for that duration of non-particiaption is to be paid by the policyholder to Exide Life Insurance Company Limited directly or provide fresh mandate with the different bank account details to start the debit.
  11. If your account number is of less than 15 digits, same might have been changed or may change with the bank's migration to Core Banking System. Kindly provide the correct and modified CBS compatible account number only after confirming from the bank. This account number may be modified if the bank provides any modified number.
  12. Direct Debit Mandate shall be discontinued in the event of receipt of information of death of the Life Assured or Maturity date or Surrender or request for cancellation of the Direct Debit mandate.
  13. The bank account mentioned in this mandate may be used by Exide Life Insurance Company Limited to credit any policy related payouts payable and will be used when primary account holder is the policyholder of the policy and the policy is not assigned. Policyholder may choose to receive credit in a different account at payout stage; however, if no such change is received, Exide Life Insurance Company Limited may use this bank account.
  14. Service Tax is applicable as per the governing laws and the same shall be borne by the policyholder. Exide Life Insurance Company Limited reserves the right to recover from the policyholder any levies and duties (including service tax) as imposed by the Government from time to time.
  15. For policies on Direct Debit mode of premium payment, no premium notices/reminders or premium receipts will be sent. Annual premium paid certificates will be issued instead of individual receipts. Annual Premium Paid Certificate can also be obtained through Exide Life Insurance Company Limited Website exidelife.in after enrolling in "Mylife" customer portal.
  16. You have an option to choose one preferred debit date from 1st, 5th, 10th, 15th or 20th. In case the preferred date opted by you is beyond 14 days from the premium due date, Exide Life Insurance Company would set the debit date to be the next available preferred date.
  17. Premiums will be debited on preferred debit date chosen by you .
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