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Insurance Company
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IDBI Federal Life Insurance Company Ltd
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Plan Name
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IDBI Federal Lifesurance Savings Insurance Plan
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Plan Nature
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TRADITIONAL
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Plan Category
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Protection Plan
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UIN No.
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135N024V01
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About Plan
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It is a fixed-term participating endowment policy that provides you with the twin benefits of long-term savings and life cover. It is a guaranteed plan that allows you to accumulate considerable savings to meet your responsibilities in life. The IDBI Federal Lifesurance Savings Insurance Plan also offers you the benefit of a death cover that provides financial security to your family in your absence.
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Minimum Entry Age
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18 years
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Maximum Entry Age
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65 years
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Maximum Maturity Age
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75 years
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Minimum Policy Term
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10 years
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Maximum Policy Term
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25 years
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Premium Paying Term
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Minimum: 5 years (Policy terms of 15,20 and 25 years)Maximum 6 years (Policy term of 10 years)
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Minimum Premium
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Rs.20000(yearly mode), Rs.10000(half-yearly mode)Rs.5000(quarterly mode), Rs.2500(monthly mode)
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Benefits
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| Particulars | Description |
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Maturity Benefits
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On the maturity of your Lifesurance policy, provided all premiums have been paid in full when due, we will pay you the sum insured along with the vested guaranteed additions, vested reversionary bonuses and terminal bonus, if any, in a lump sum.
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Death Benefits
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On the death of the life insured during the policy term, provided all premiums have been paid in full when due, we will pay the beneficiary the sum insured along with the vested guaranteed additions, vested reversionary bonuses, interim bonus, if any and terminal bonus, if any, in a lump sum.
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Tax Benefits
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| Section | Description |
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SEC 80 C
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Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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Advantage WomenLifesurance offers an additional premium discount for female insured persons. The basic premium payable for a female policyholder will be equivalent to the premium for a corresponding three-year younger male policyholder.
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Grace PeriodGrace period is effective from the date of the first unpaid premium. We allow a grace period of 30 days from the due date for yearly, quarterly and half-yearly modes for you to make your premium payment. We allow 15 days for the monthly mode of payment. The cover remains in force during the grace period with all benefits.
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Reduced benefits for paid-up policiesPaid-up values are available after three full years' premiums have been paid. After the policy has acquired a paid-up value, if premiums are not paid within the grace period, the policy will be mad a paid-up policy, with reduced benefits. The policy shall not be entitled to any future guaranteed additions, reversionary bonuses and terminal bonus.
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LoanYou can avail of the loan facility from IDBI Federal after the policy acquires surrender value. The loan amount granted will be up to 85% of the surrender value subject to terms and conditions specified by IDBI Federal from time to time.
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12-Aug-09
11:41
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IDBI Fortis clears claims of next of kin if any policyholder died of swine flu
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27-Apr-09
20:16
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IDBI Fortis Life launched 'Retiresurance Pension Plan'
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17-Mar-09
16:23
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Rs 2.5 bn in insurance venture : IDBI Fortis Life
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10-Feb-09
10:25
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IDBI Fortis launches Homesurance Protection Plan
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30-Jan-09
13:50
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40 out of 45 are ULIPs which are filed by insurer in last one week : IRDA
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24-Jan-09
11:25
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IDBI Fortis sponsoring India-Sri Lanka cricket series
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26-Dec-08
11:25
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IDBI Fortis Life Insurance launches Bondsurance
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18-Dec-08
09:48
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IDBI Fortis LifeÆs new product
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11-Oct-08
11:25
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IDBI Fortis Opens 100 Branches Across Country
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30-Sep-08
03:54
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IDBI Fortis opens six branches in AP
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29-Sep-08
12:20
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IDBI's new Branch in Pune
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22-Aug-08
08:10
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IDBI Fortis Life Insurance opens branch in Vijaywada
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20-Aug-08
13:45
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IDBI Fortis Life Insurance opens First branch in Delhi
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