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IDBI is one of the fastest growing life insurance companies which offer a wide range of wealth management, protection and retirement solutions to individual and corporate customers. It is a joint venture between IDBI Bank and Federal Bank.
Life insurance is a one-stop solution for a secured and tension free life. Life insurance is in demand for several different reasons. We have put the top reason through which you will be able to understand the importance of having a life insurance policy. Life insurance is one of the best plans to secure future of your family and to gain higher returns. Under life insurance plans section, you will get several plans that provide security to your family and some plan will act as a great investment option as well.
Certainty
Once you set the financial goal, then you must be thinking of different ways to attain the same. This is where life insurance comes into existence. With the help of a life insurance, you will be sure about the fact that your family will be secure and able to live a peaceful life. They don’t have to worry about the financial issues, life insurer will be there to support them in every possible manner.
Tax Benefit
By buying a life insurance you would be able to save money on taxes. Even the maturity amount will also be tax-free under Section 10 (10D).
Flexibility
Life insurance plans such as ULIPs offers flexibility for asset allocation that suits specific risk needs, searching options and multiple premium payment options as well.
Wider Range
Life insurance comes along with a wider range of helpful plans that go well with a person need such as a child plan, retirement planning, term plan and much more. You will surely get a plan that goes well with your needs. Just search for the right one.
Insurance for Financial Security
Yes, insurance helps you with different liabilities such as hospitalization, critical illness, debt redemption, etc. in a cost-efficient manner.
Life is short and you possibly can’t guess what the future holds. With the intention to make your family at ease even when you aren't there to help them, pick out a term insurance plan. A term plan gives monetary support to family and allows them to face the uncertainties.
Term insurance is a popular plan because it provides financial coverage at low rates and the family of the deceased receives the complete sum insured amount. If the policyholder survives the policy tenure, this insurance coverage might now not deliver any maturity benefits. Currently, insurance companies have begun providing certain advantages in case the insured survives the policy term, they might pay back a certain percentage of the entire premium paid.
Provide coverage to your family against financial loss
You may wish to have a term insurance, however, just delaying your purchase isn’t always the right thing to do as it only increases the risk of having a trouble at your doorstep. The cash that you have in your bank account isn't enough for your dependents and that’s why you want to buy a term coverage as early as possible.
A premature demise of breadwinner is unfortunate for the family. A term insurance will assist to take care of their monetary desires.
Term Insurance Plans Are Effective
As there is no investment option in the same, the premium for term plans is less when compared to different insurance plans. One would possibly need to pay only one percent of his annual profits for a life cover.
Peace of Mind
It offers you a relaxed state of mind as you know that your family needs are covered if something happens to you. It may help your family to pay off different liabilities in case of your demise. Check plans by leading insurance providers and select the best term insurance plan that suits your financial needs.
Insurance Plans Turn Out To Be Costly With Age
The premiums of most insurance plans increase with age. So, it’s critical to shop for it in the early phase of your life. Search to buy appropriate term insurance on time as your profits will increase. It’s recommended to check your term insurance necessities and pick out the best term insurance plan to match your needs.
Your family will love it
When you cover your life with life insurance, your family will respect you more as it shows that you care about them and think of their needs. The amount of premium paid for the plan is tax-free and hence you can also avail of additional benefits from your plan.
Online plans are more affordable as compared to offline plans. It will help you in saving a lot of your time and money as well. With the online facility, it will be easy for you to choose a plan that can easily go well with your needs.
IDBI Federal Life Insurance iSurance Flexi Term Plan
A simple term insurance plan tailor-made for life with the option of hassle-free online buying, coverage up to 80 years. It offers Lump sum payout on death and regular monthly income to your family for 15 years and several other beneficial options to choose.
IDBI Federal Life Insurance Wealth Gain Insurance Plan
Choose between 4 Equity, 2 Debt and 2 Balanced 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. 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.
IDBI Federal Life Insurance iSurance Online Term Insurance Plan
Offers life cover up to 80 years of age. In case of death of the insured, a one-time payout is made to the beneficiary.
IDBI Federal Life Insurance Wealthsurance Growth Insurance Plan SP
This plan allows you to choose from 8 funds to invest while providing flexibility to manage your funds. One can choose between monthly and annual premium payment.
The term plans offered by the company offers the dual advantages to ensure protection and financial stability of the customer and their households. There are plans that offer a return of premium in addition to other benefits apart from offering simple life insurance. Those plans are designed to offer a healthful life coverage insurance.
IDBI Federal Life Insurance iSurance Flexi Term Plan
A simple term insurance plan tailor-made for life with the option of hassle-free online buying, coverage up to 80 years. It offers Lump sum payout on death and regular monthly income to your family for 15 years and several other beneficial options to choose.
IDBI Federal Life Insurance iSurance Online Term Insurance Plan
Offers life cover up to 80 years of age. In case of death of the insured, a one-time payout is made to the beneficiary.
IDBI Federal Life Insurance TermsuranceSampoornSuraksha Micro-insurance Plan
A pure term insurance plan that provides life Insurance cover to you by paying a lump sum benefit to your family in case of an unfortunate death. Choice of single or regular premium payments and an additional amount in case of an accidental death.
IDBI Federal Life Insurance Termsurance Life Protection Insurance Plan
A plan that helps you secure your family’s dreams, no matter what. It provides the option to get a return of premium on maturity with high sum assured discount. It also provides premium payment options as per your choice.
Secure your child’s future with our customized Child Plans to fulfill your child’s higher education and other needs.
IDBI Federal Life Insurance Childsurance Savings Protection Insurance Plan
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. Even in the unfortunate event of death, the guaranteed annual payouts and bonuses will be paid on their respective due dates.
IDBI Federal Life Insurance Wealthsurance Future Star Insurance Plan
Secure your family with triple benefits, along with life cover. In case of an unfortunate event of death, your nominee will get sum assured as a lump sum amount. Further, all future premiums are waived off and an equivalent amount is invested by us into the policy. The policy continues and the maturity benefit is paid out at end of the policy term.
A Unit Linked Insurance Plan (ULIP) is a product offered by insurance companies that, unlike a pure insurance policy, give investors both insurance and investment under a single integrated plan.
IDBI Federal Life Insurance Wealth Gain Insurance Plan
A unit-linked insurance plan that gives your life cover and helps build wealth over the long term. In this plan, the investment risk in the investment portfolio is borne by the policyholder.
IDBI Federal Life Insurance Wealthsurance Growth Insurance Plan
A unit-linked plan that lets you choose how to build your wealth. It manages your investments as per your risk appetite and offers guaranteed loyalty additions to boost your savings. Provides tax benefits on the premiums paid as well as benefits received.
IDBI Federal Life Insurance Wealthsurance Future Star Insurance Plan
A unit-linked insurance plan that enables you to fulfill your child’s dreams. Life cover with triple benefits along with guaranteed loyalty additions to boost savings plus tax benefits.
IDBI Federal Life Insurance Wealthsurance Growth Insurance Plan SP
A single premium unit-linked plan that helps you maximize returns on your investment, with a one-time effort. Guaranteed loyalty additions to boost your investment along with life cover for financial protection of your loved ones.
Savings plans are life insurance plans that offer you multiple avenues to save and to grow your money. These online investment plans help in systematic and disciplined investment ensuring that you and your family achieve your financial goals.
IDBI Federal Life Insurance 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. An additional payout will be given to your nominee in the unfortunate event of an Accidental Death during the premium payment term.
IDBI Federal Life Insurance Wealth Gain Insurance Plan
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. 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.
IDBI Federal Life Insurance POS Guaranteed Plan
The policyholder will receive Maturity Sum Assured on survival at the end of the policy term. This is a defined percentage of the single premium payable and depends on the age at entry of the life insured and the premium amount. On this payment, the policy shall terminate.
IDBI Federal Life Insurance POS Guaranteed Income Plan
Under this plan, you pay your premium for the first five years only and get life insurance protection for anentire policy term of 10 years.
IDBI Federal Life Insurance Incomesurance Guaranteed Money Back Insurance Plan
Under this plan, your family will get 10 times the annual premium as death benefit regardless of any payouts received by you in the past.
IDBI Federal Life Insurance Incomesurance Guaranteed Money Back Insurance Plan 7 Pay
You get guaranteed annual payouts ranging from 126.66 % to 143.23 % of your annual premium irrespective of market conditions.
IDBI Federal Life Insurance Wealthsurance Growth Insurance Plan
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.
IDBI Federal Life Insurance Wealthsurance Growth Insurance Plan SP
In case of any emergency fund requirement, you can withdraw money from your policy through partial withdrawals which are free of cost and can be availed at any time after the 5th policy.
IDBI Federal Life Insurance Incomesurance Guaranteed Money Back Insurance Plan 6 Pay
Get financial refuge against pre-defined critical illnesses. The benefits include a lump sum amount to help in treatment and other expenses; subject to completion of survival period of 30 days from the diagnoses of critical illness.Further premiums are waived off and the life cover continues till the end of the policy term.
IDBI Federal Life Insurance Secured Income Plan
A simple plan wherein you invest for 10 years and then enjoy a Guaranteed Annual Income for the next 10 years along with life insurance cover. Financially secure your family with a life cover that remains in force for the entire policy term of 20 years.
IDBI Federal Life Insurance Guaranteed Wealth Plan
A long-term life insurance plan which comes with a component of savings element that assures you of guaranteed returns on your investment. The plan includes a life insurance cover of 14 years, assuring that your family’s future will be financially secure under all circumstances.
A pension is a fund into which a sum of money is added during an employee's employment years, and from which payments are drawn to support the person's retirement from work in the form of periodic payments.
IDBI Federal Life Insurance Wealth Gain Insurance Plan
A unit-linked insurance plan that gives you life cover and helps build wealth over the long term.
IDBI Federal Life Insurance 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.
IDBI Federal Life Insurance Wealthsurance Growth Insurance Plan
A unit-linked plan that lets you choose how to build your wealth.
IDBI Federal Life Insurance Wealthsurance Growth Insurance Plan SP
A single premium unit-linked plan that helps you maximize returns on your investment, with a one-time effort.
Group plans help in securing your employees under a single insurance plan with our wide range of Group Plans.
IDBI Federal Life Insurance Group Employee Benefit Plan
The plan offers 2 funds to choose from to suit your risk appetite and investment objective - Group Equity Fund & Group Debt Fund. Provides life insurance benefit to employees that will be payable to their families in an unfortunate event.
IDBI Federal Life Insurance Group Loan Secure Plan
Under this plan, the death sum assured and hence the death benefit remains constant throughout the cover term. Provides the option to select moratorium period under the reducing death benefit option from 1 to 7 years.
IDBI Federal Life Insurance Group Microsurance Plan
The plan provides life insurance cover to group members at affordable cost. Any member aged between 18 and 60 years can be covered under this policy. Further, sum insured between INR 5,000 and INR 50,000 per member can be availed.
IDBI Federal Life Insurance Loansurance Group Insurance Plan SP
In case of death of an insured member, credit account statement from the lender (Master policyholder) is sought. In case there is any outstanding loan balance, the death benefit will be paid to the lender to the extent of theoutstanding loan balance. Balance claim amount (if any) is payable to the beneficiary.
IDBI Federal Life Insurance Retiresurance Group Insurance Plan
The plan helps you manage funds for your employee’s retirement benefits under the following schemes: Defined Benefit and Defined Contribution. Under this plan, the Superannuation, Gratuity & Leave Encashment benefits will be paid as per the scheme rules.
IDBI Federal Life Insurance Termsurance Group Insurance Plan
The plan provides valuable life insurance cover to the employees. Further, premiums are tax deductible as abusiness expense (as per section 37 of the Income Tax Act, 1961). It is easy to set up and administer and helps you attract and retain your most important asset, your employees.
IDBI Federal Life Insurance Termsurance Group Protection Insurance Plan
In the event of death, the Death Sum Assured is paid to his/her beneficiary. The Death Benefit is exempt from income tax. Further, no medical examination is required up to a certain coverage limit.
IDBI Federal Life Insurance Loansurance Group Insurance Plan
Covers the entire sanctioned loan amount even during the moratorium period (the period before the loan EMIs begin) thereby enabling the borrower’s nominee to repay the loan and accomplish the goal for which loan was taken.
Linking Of Aadhaar With Insurance Policy Is Mandatory, Says IRDA
November 13, 2017
On Wednesday, 8th Nov 2017, the Insurance Regulatory And Development Authority Of India (IRDA) said that the linking of Aadhar number with insurance plans is compulsory and asked insurance companies to implement the statutory norms.
“The Authority clarifies that, linkage of Aadhaar number to insurance policies is mandatory under the Prevention of Money Laundering (Maintenance of Records) Second Amendment Rules, 2017,” the IRDA said.
In the last June, the government of India had informed about the Prevention of Money Laundering (Maintenance of Records) Second Amendment Rules, 2017, making Aaadhar and PAN/Form 60 compulsory for getting financial services that include insurance also and asked policyholders and companies for linking the existing policies with the same.
In a discussion with all life and general insurance companies, IRDA said the rules have “statutory force” and they have to implement the rule without waiting for the further instructions.
Right now, there are 24 life insurers and 33 general insurance companies operating in the country.
Although, there are no deadlines that have been given by IRDA for the completion of the process, as per the circular, it has to be done as soon as possible. Some insurance companies also said that this can also result in the delay of payout in a few cases. Aadhaar is now also compulsory for financial transactions of Rs 50,000 and above. Likewise, one has to link one’s Aadhaar number with the mobile number latest by February 6, 2018.
IDBI Federal Life Insurance Buys Office In Marathon Futurex
March 15, 2016
In one of the main office space deal, IDBI Federal Life Insurance Company Limited has bought commercial space worth over Rs 111 crore at Marathon Futurex in Lower Parel in Mumbai. The corporation has acquired around 61,720 sq ft office space extend over two floors at the IGBC’s Gold rated Green Building. The contract was registered in the last week after finishing of all formalities.
The 450 employees of IDBI Federal Life Insurance will take up the offices on 22nd and 23rd floors of the tower. The deal works out at about Rs 18000 per sq ft and falls in the ongoing property rates for absolute transactions. Rates in Lower Parel are in the range of Rs 18,000-
20,000 per sq ft based on the profile and amenities offered in commercial complexes here. Mr.Mayur Shah, Managing Director, Marathon Group said, “This is one of the biggest commercial realty deals in the recent time which instills the hope that commercial real estate is on track.”
He added, “Among the biggest commercial real estate deals that have taken place in the last couple of months, maximum deals have taken place in Marathon Futurex in Lower Parel. The reason is the distance of railway stations from the iconic building and the gold-rated green
building with amenities and facilities that are at par with international standards. With increasing standards of Indian corporate houses and entry of multinationals, Marathon Futurex is the apt office space solutions for these companies.”
IDBI Federal Life Insurance: Sponsor of Delhi Marathon
January 29, 2016
The IDBI Federal Life Insurance will be the Title Sponsor of the first edition of the New Delhi Marathon. It will be now called IDBI Federal Life Insurance New Delhi Marathon and will take place in Delhi on 28th February 2016.
The ‘Face of the Event’ will be Virat Kohli, India’s Test Cricket captain. Around 15,000 people are participating in it.There are 3 categories in the event – 42 km Full Marathon, 21 km Half Marathon, and 5 Km Swacch Bharat Run that majorly aims to promote the message of a clean and green India.
The Prize for this event is Rs 35 Lacs across elite and age-group categories. The elite event entry is limited to Indian nationals only in order to endorse running as a sport in India. Addidas will be the running partner of this event.
Speaking to the media, Mr. Vighnesh Shahane, CEO, IDBI Federal Life Insurance said, “It is a matter of immense pride for us to be associated with the capital’s first full marathon, now called the ‘IDBI Federal Life Insurance New Delhi Marathon’. This event is unique in many ways, and aims to inspire thousands of enthusiastic participants to lead a fit and healthy life.”
Registrations are open on newdelhimarathon.com
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