IDBI Federal Termsurance Life Protection Insurance Plan and Policy
IDBI Federal Termsurance Life Protection Insurance Plan and Policy - Termsurance Life Protection Insurance Plan, offered by IDBI Federal, is a non-linked, non-participating term insurance plan, which offers several benefits such as return on premium upon maturity, different premium payment options (regular and single), high sum assured discounts and discounts on premium for women among others. You can customise your plan based on your specific financial requirements.
Eligibility - IDBI Federal Termsurance Life Protection Insurance Plan and Polic
- Age at Entry
- Minimum: 18 years
- Maximum: 60 years
- Age at Maturity
- Minimum: 28 years
- Maximum: 70 years
Features - IDBI Federal Termsurance Life Protection Insurance Plan and Polic
The salient features of this IDBI Federalterminsuranceplan are listed below:
- Policy Term
- Minimum: 10 years
- Maximum: 30 years
- Premium Payment Terms: Regular and Singular
- Plan Options
- Pure Protection: This option offers large cover at a low cost. No maturity benefits are offered under this option. In the event of your death, your family receives death benefit.
- Return of premium upon maturity: If you survive the policy term, you will receive all the premiums (excluding service tax and extra premiums) paid. In case your death within the policy term, your nominee will receive the death benefit
- Premium Payment Frequency: Annual, Single, Quarterly, Half-yearly, Monthly
- Sum Assured/Life Cover
- Minimum: Rs.5 lakh
- Maximum: No limit (subject to underwriting requirements)
Benefits - IDBI Federal Termsurance Life Protection Insurance Plan and Polic
The following are the main benefits of the plan
- Death Benefit: The following table shows the death benefit offered under the single premium option (before maturity)
Age of policyholder under 45 years 45 years and above Single premium Highest of the following: - sum assured chosen
- 125% of premium (single)
- minimum sum assured upon maturity
Highest of the following: - Sum assured chosen
- 110% of premium (single)
- minimum sum assured upon maturity
The following table shows the death benefit offered under the regular premium option
Age of policyholder under 45 years 45 years and above Regular premium Highest of the following: - sum assured chosen
- 105% of premiums paid
- 10X annualised premium
- Minimum sum assured upon maturity
Highest of the following: - Sum assured chosen
- 7X annualised premium
- 105% of premiums paid
- Minimum sum assured upon maturity
In case of your death before maturity, while the policy is paid up, your nominee will receive the reduced sum assured.
- Discounts for women: Women can avail of premium discounts under this plan
- Discounts for high Sum Assured: If the Sum Assured is above Rs.10 lakh or above, you can avail of a discount
- Tax Benefits: You can avail of tax benefits under Section 80C and Section 10 (10D) of the Income Tax Act, 1961.
IDBI Federal Term Life Insurance Plans and Policy |
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