IDBI Life Insurance offering Dual-Benefit Life Insurance Plans

Amongst India’s leading insurance companies, IDBI Federal Life Insurance offers a range of diverse plans for protection plans, wealth management plans, and retirement plans for both corporate customers and individuals. The insurance company is a joint venture of IDBI bank — India’s leading premier development and commercial bank and Federal Bank that serves as a leading private sector bank in India. Federal Bank also serves as a multinational insurance giant with headquarters in Europe.

The company strives hard to bring innovative product offerings, managing and supervising the delivery of services while interacting with the customers on an individual basis. Acting with integrity while interacting with the customers brings transparency in the business transactions, which further invites investments and quality human capital, helping the company achieves its goals. IDBI life insurance offers following life insurance plans:

IDBI Federal Life isurance Savings Insurance Plan is a non-linked, participating term insurance plan that brings along dual-benefit of life cover and long-term savings. The life cover feature enables you to build a strong foundation for your family.

Policy Eligibility and Key Terms

· Policy entry age: 18 years to 55 years

· Policy maturity age: 75 years

· Premium payment frequency: annually, semi-annually, quarterly, monthly

· Min. Premium payment: 10000 annually, 5000 semi-annually, 2500 quarterly, 1000 monthly

· Policy Term: 15, 20, 25 years

· Max. Premium payment: No specified limit

· Sum Insured on maturity: Subject to age, policy term, and premium payments

Policy Benefits

· Lump-sum payout at policy maturity

· Assured additions to safeguard your savings

· Boosted savings with bonuses

· Plan your needs with flexibility

· Accidental death benefit

· Rebate on high sum insured

· Special advantages for women

· Tax benefits

IDBI Federal Lifesurance Whole Life Savings Insurance Plan is a non-linked, participating whole life plan for savings, which enables you to enjoy your life to the maximum, thereby living up to your family’s needs. As per the plan, you receive two lump-sum payouts: one when the policy term ends and second when you reach 100 years of age. Meanwhile, the plan ensures financial security to your family irrespective of your presence or absence in their life.

Policy Eligibility and Key Terms

· Min. policy entry age: 18 years

· Max. policy entry age: 55 years (Age at the end of PPT is 75 years with no Accidental Death Benefit)

· Policy maturity age: 75 years (Age at the end of PPT is 65 years with no Accidental Death Benefit)

· Premium payment frequency: annually, semi-annually, quarterly, monthly

· Premium Paying Term: minimum 12 years and maximum 30 years

· Max. Premium payment: No specified limit

· Sum Insured on maturity: Subject to age at policy entry and PPT (minimum) and No limit (maximum)

Policy Benefits

· Life cover of up to the age of 100 years

· First lump-sum payout when policy term ends

· Another lump-sum payout when you reach the age of 100 years

· Savings boost with assured additions and bonuses

· Option to add Accidental Death Benefit during policy term

IDBI Federal Life Insurance Company also has multiple term insurance plans under the category of IDBI term insurance plans, which are available with the benefits of a group insurance plan.