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Life Insurance

IDBI Federal

IDBI Federal Life Insurance is one of India's growing life insurance companies and offers a diverse range of wealth management, protection and retirement solutions to individual and corporate customers. IDBI Federal Life Insurance Co Ltd is a joint-venture of IDBI Bank, India's premier development and commercial bank, Federal Bank, one of India's leading private sector banks and Ageas, a multinational insurance giant based out of Europe.

Childsurance Savings Protection Insurance Plan

An insurance plan that secures your child's financial future.

  • Life cover for your family's financial security
  • Guaranteed annual payouts to fund important milestones
  • Waiver of premium benefit to secure your child's future

This is what the plan offers

Get guaranteed annual payouts for important milestones :

The plan gives you guaranteed annual payouts either in the last 3 or last 5 years of the policy, depending on the policy term you choose.

Receive bonuses to add to your savings :

The reversionary bonus* accrues into the policy throughout the policy term, right from the first policy year. Along with reversionary bonus, interim and terminal bonuses (if any) would also be paid out at maturity.

Immediate payout of lump sum in case of the unfortunate event of your death :

In case of an unfortunate event, the death sum assured will provide for your child's immediate needs. Further, all future premiums of the policy will be waived off.

Plan continues and benefits are paid as planned :

Even in the unfortunate event of death, the guaranteed annual payouts and bonuses will be paid on their respective due dates.

Flexibility to plan for your needs :

With this plan, you have the option of choosing the maturity sum assured, policy term, premium payment term, and payment mode as per your child's future needs.

Key Benefits

Maturity Benefit

The maturity benefit of your policy payable is the aggregate of the maturity sum assured and the accrued bonuses. It is the sum assured that is used to determine your premium and maturity benefit. It is paid out as guaranteed annual payouts either in the last 3 or last 5 years of the policy, depending on the policy term you choose.

Death Benefit

In case of death of the life assured during the term of the policy, the death sum assured is paid immediately. Additionally, the future premiums are waived and your nominee would be paid the guaranteed annual payouts on their respective due dates. At the end of the policy term, the vested bonuses, if any, will be paid.

Tax Benefit

The policy offers tax benefits as applicable under section 80 C and 10(10D) as per provisions of the Income Tax Act, 1961. Tax benefits are subject to change in tax laws. You are advised to consult your tax advisor for details.

Eligibility for this plan

Age at entry of life insured (parent) : 18 Years (Min)| Regular payment option: 40 years(Min) Limited payment option: 50 years(Max)

Age at entry of Nominee (child) : 1 month (Min)|18 years(Max)

Age at maturity of the life insured (last birthday) : 28 years (Min)- Regular payment option: 65 Years(Min). Limited payment option : 75 years (Max)

Premium Frequency (Mode) : Fixed/Yearly, and monthly by ECS, standing instructions or direct debit only

Policy term : 10 years(Min) / 25 years(Max)

Wealth Gain Insurance Plan

A unit-linked insurance plan that gives your life cover and helps build wealth over the long term.

  • Life cover and waiver of premium on disability
  • Guaranteed loyalty additions to boost investments
  • Tax benefits on premium payments

This is what the plan offers

Get waiver of premium on disability

In case of total and permanent disability of the life assured during the premium paying term provided the policy is in force, future premiums will be paid by the company on their respective due dates. Further, the life cover continues till end of policy term and guaranteed loyalty additions will continue to be added as scheduled.

Provides flexibility to manage investments

You stay in complete control of your investments with the flexibility to align them as per your needs and priorities; and also re-align them if and when you wish to do so. You have a choice of eight investment fund offerings that allow you to invest your money, switch between funds any number of times free of charge as per your risk-return appetite.

Receive guaranteed loyalty additions

Get rewarded for staying invested in the long term with guaranteed loyalty additions at the end of the 10th policy year and every 5 years thereafter. This is 1% of the average fund value in your investment account, in the last 36 months preceding the guaranteed loyalty addition date.

Key Benefits

Maturity benefit

Maturity benefit is equal to the fund value including total guaranteed loyalty additions in your investment account on the date of maturity provided the policy is in force. Once the maturity benefit is paid out, the plan terminates.

Death Benefit

In case of death of insured person during the policy term provided the policy is in force, the Death Benefit will be paid to the beneficiary. Death Benefit payable shall be higher of Death Sum Assured, Fund Value or 105% of the Total Premiums Paid. On payment of Death Benefit, the policy will terminate and all rights, benefits and interests under the policy will stand extinguished.

Tax benefits

The policy offers tax benefits as applicable under section 80 C and 10(10D) as per provisions of the Income Tax Act, 1961. Tax benefits are subject to change in tax laws. You are advised to consult your tax advisor for details.

*Linked Insurance Products do not offer any liquidity during the first five years of the Plan. The Policyholder will not be able to surrender/withdraw the monies invested in linked insurance products completely or partially till the end of the fifth year.

Eligibility for this plan

Age at entry of life insured (last birthday) : 5 Years (Min)|60 years(Max)

Age at maturity of the life insured (last birthday) : 18 years (Min)|74 years(Max)

Premium Frequency (Mode) : Fixed/Yearly and Monthly

Premium payment Term : Fixed/For ages below 50 years : 5 / 10 / 15/ 20 years For age 50 years and above : 10 / 15/ 20 years

Lifesurance Savings Insurance Plan

Lifesurance Savings Insurance Plan is a fixed term non-linked participating plan that provides you the twin benefits of long-term savings and life cover.

  • Guaranteed additions to safeguard your savings
  • Additional savings with bonuses
  • Lump sum payout at maturity

This is what the plan offers

Safeguard your savings with guaranteed additions

Get the benefit of guaranteed additions that safeguards your investment. In the first 5 years of the policy, you get guaranteed additions at the rate of INR 50 per INR 1,000 of maturity sum insured, when each full annual premium is paid.

Added Bonus to boost your savings

Get reversionary bonus from the 6th policy year, which will be accrued to your policy at the end of each policy year. If your policy has any terminal bonus, it will be paid out at maturity or on death.

Get double protection with Accidental Death Benefit

An additional payout will be given to your nominee in the unfortunate event of an Accidental Death during the premium payment term.

Enjoy discount on premium

Get attractive premium rebate when you opt for a Maturity Sum Insured of INR 10 lakh and above

Get tax benefits on premiums paid

Enjoy tax benefits under Section 80C of the Income Tax Act, 1961, and under Section 10(10D) of the Income Tax Act, 1961.

Key Benefits

Maturity Benefit

On maturity of your policy, you receive maturity sum insured plus vested guaranteed additions plus vested reversionary bonuses, if any, plus terminal bonus, if any.

Death Benefit

On death of the life insured during the policy term, the payout includes death sum insured# plus vested guaranteed benefits plus accrued till date of death plus vested reversionary bonuses accrued till date of death plus interim bonus, if any plus terminal bonus, if any.

*All the Guaranteed additions and bonuses are based on maturity sum insured

#It is the minimum amount guaranteed to be paid on death of the insured person during the term of the policy. The death sum insured is highest of 10 times of annualised premium, or 105% of all premiums paid as on date of death, or maturity sum insured.

Accidental death benefit

Get an additional payout in the unfortunate event of the accidental death of the life insured up to the end of the premium payment term. It is equal to the maturity sum insured and is paid out in addition to the death benefit.

Eligibility for this plan

Age at entry of life insured (last birthday) : 18 Years (Min)|55 Years (Max)

Age at Maturity : 55 years-75 years (Max)

Premium(in Rs.) : 10,000(Yearly) / 5,000(Half Yearly)/2,500(Quarterly) / 1,000(Monthly)(MIN) Max No limit (subject to underwriting)

Premium Payment Term : 5 yrs.(Min)/Equal to policy term(Max)(If Policy Term – 15 / 20 / 25 years) Fixed 5 yrs./(If Policy Term – 10 years)

Premium Payment Frequency : Monthly / Quarterly / Half yearly / Annually

Wealthsurance Growth Insurance Plan

A unit-linked plan that lets you choose how to build your wealth.

  • Manage your investments as per your risk appetite
  • Get guaranteed loyalty additions to boost your savings
  • Get tax benefits on the premiums paid as well as benefits received

This is what the plan offers

Choose how much you want to invest and for how long

The plan lets you choose how much you want to invest, the duration for which you want to pay and for how long you want to stay invested.

Manage your investments as per your risk appetite

The plan gives you the choice of 8 funds to invest in, based on your risk profile and return expectations. You can either manage it yourself or leave it to us by indicating your risk profile, without any additional charges

Get guaranteed loyalty additions to boost your investment

At the end of the 10th policy year and every five years thereafter, you get guaranteed loyalty additions as a reward for staying invested in the plan.

Receive life cover benefit to financially secure your loved ones

In case of an unfortunate event of demise, your nominee will get the death benefit which is the higher of the sum assured or the fund value at that time. The death benefit will always be at least 105 % of the total premium amount paid as on the date of death.

Get tax benefits on the premiums paid and the benefits received

The policy offers tax benefits under section 80 C and 10(10D) as per provisions of the Income Tax Act, 1961.

Key Benefits

Flexibility to manage investment

You get the flexibility to align your investment as per your needs and priorities; and also re-align them if and when you wish to do so. You have choice of 8 investment fund offerings that allow you to invest your money as per your risk-return appetite. Plus you can also switch between funds any number of times free of charge,redirect premiums to maximize returns as per your changing financial needs.

Guaranteed loyalty additions

The plan comes with guaranteed loyalty additions which help increase your earnings and returns. Guaranteed loyalty additions will be 3 % of the average fund value in the investment account over the last 36 months preceding the loyalty allocation date. These loyalty additions are credited to your policy at the end of the tenth policy year and at the end of every 5 years thereafter. In case you have invested in multiple funds, guaranteed loyalty additions will be added to each fund in the same proportion as the fund value in each fund bears to the total fund value.

Death benefit

Death benefit is paid to the beneficiary in the event of death of the insured person

Maturity benefit

Maturity benefit is equal to the fund value in your investment account on the date of maturity. Upon payment of the maturity benefit, your plan is terminated.

Eligibility for this plan

Age at entry (last birthday) : 1 month completed (Minimum)|64 years (Maximum)

Age at maturity (last birthday) : 18 years (Minimum)-74 years (Maximum)

Premium Frequency (Mode): Fixed/Annual

Policy term : 10 years (in multiples of 5 therafter)Min / 30 years(Max)

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