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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 Termsurance Grameen Bachat Yojna
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Plan Nature
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TRADITIONAL
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Plan Category
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Term Plan
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UIN No.
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135N011V01
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About Plan
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IDBI Federal Termsurance Grameen Bachat Yojana is a low-cost risk protection plan targeted at the rural population. It is an ideal plan to protect family members in the event ofunfortunate demise of the major income earned and also to save for specific events like repayment of loan, daughter's marriage or child's education. The plan offers life cover at a nominal cost along with the option of refund of premiums paid by you at maturity.
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Minimum Entry Age
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18 years
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Maximum Entry Age
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50 years
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Maximum Policy Term
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3,5 years and 10 years
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Minimum Sum Assured
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Rs.5000
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Maximum Sum Assured
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Rs.100000
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Benefits
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| Particulars | Description |
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Death Benefits
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The death benefit will depend on the benefit option chosen by you.
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Death Benefits
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Life cover: If you have chosen 'Life Cover' as benefit option, then in the event of your unfortunate death before the maturity date, we will pay a death benefit equal to the sum insured to your nominee.
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Death Benefits
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Life cover with Accidental Death Benefit: If you have chosen 'Life Cover with Accidental Death Benefit' as benefit option, then in the event of your unfortunate death before the maturity date, we will pay a death benefit equal to the sum insured to your nominee. In the event of your unfortunate death before the maturity date as a result of an accident, we will pay a death benefit equal to two times the sum insured to your nominee.
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Surrender Benefit
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There is no surrender value available in case of regular premium policies. A guaranteed surrender value is a vailable in case of single premium policies from the beginning of the fourth policy year.
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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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You can choose from 4plan options:Plan option A: 'Life Cover'Plan option B: 'Life Cover with 50% Return of Premiums'Plan option C: 'Life Cover with 90% Return of Premiums'Plan option D: 'Life Cover with 100% Return of Premiums'
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This plan offers you 2 benefit options to choose from 'Life Cover' and Life Cover with Accidental Death Benefit'.
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No benefit is payable on maturity in case of plan option A, in case of plan option, B, we will refund 50% of all premiums on maturity and terminate the policy. In case of plan option C, we will refund 90% of all premiums on maturity and terminate the policy. In case of plan option D, we will refund 100% of all premiums on maturity and terminate the policy.
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The premium rate applicable for female lives insured for plan opions B,C and D (for benefit option 'Life Cover' only) will be 80% of the premium rate applicable for male lives insured.
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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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