IDBI Federal Life Insurance
IDBI Federal Life Insurance
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IDBI Federal Life Insurance Plans

IDBI Federal Life Insurance Co. Ltd. was founded in 2008. It is a three-way joint venture between IDBI Bank, Federal Bank and Ageas Europe. The company has a multi-channel distribution network inclusive of insurance agents and brokers across the globe. IDBI Federal is headquartered in Mumbai, Maharashtra and is amongst the top 10 trusted life insurance brands in India according to a survey conducted by the Economic Times Brand Equity. It is one of the fastest-growing life insurance companies, which offers a wide variety of life insurance products such as wealth management, child, protection, retirement and group solutions to individuals as well as corporate customers.

Highlights:

Claim Settlement Ratio

95.79%

No. of Financial Planning Advisors

10,000+

No. of Branch Locations in India

78

Total Profit in Business

Crosses Rs. 1,000 Crores

Awards in the Year 2020

Assocham Insurance Excellence Award

**Last Updated on 05-11-2020

IDBI Federal Term Plans

IDBI Federal term plans offer dual advantage of protection and financial stability to its customers. The plan assures a secure financial future to the family after the death of the policyholder. These plans also offer a return of premium in addition to death, maturity and surrender benefits. The following term plans are offered by IDBI Federal Life Insurance:

i) IDBI Federal Income Protect Plan

IDBI Federal Income Protect Plan is a non-participating and non-linked life insurance plan that takes care of the family members in the absence of the policyholder. The plan offers a regular increasing monthly income to meet the requirements of the family that increases with time. This benefit can also be received as a lump sum amount for emergency expenditure in the future.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 25 years

Maximum: 60 years

Maximum Maturity Age

70 Years

Monthly Income at inception

Minimum: Rs. 15,000 per month (in multiple of 5,000) Maximum: No limit, subject to underwriting

Premium Payment Frequency

Yearly and monthly (A modal loading factor of 0.09 for monthly mode is applicable)

Premium Payment Term

Regular/Limited Options up to 10/15/20 years

Policy Term

Minimum:10 years

Maximum: 30 years

**Last Updated on 05-11-2020

ii) IDBI Federal Termsurance Life Protection Insurance Plan

IDBI Federal Termsurance Life Protection Insurance Plan provides financial security to the future of your loved ones. It offers discounts on choosing high sum assured options. You can also choose a premium payment option as per your needs.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 18 Years

Maximum: 60 Years

Maximum Maturity Age

70 Years

Basic Sum Assured

Minimum: Rs. 5,00,000

Maximum: No limit

Premium Payment Modes

Annually, Half-yearly, Quarterly and monthly

Premium Payment Term

Single Premium

Regular Premium: Same as Policy Term

Policy Term

10-30 years

**Last Updated on 05-11-2020

iii) IDBI Federal MyLife Protection Plan

IDBI My Life Protection Plan is a non-linked, individual life and pure risk premium plan. The plan offers an extensive life cover that too for relatively affordable premiums. One can easily choose the policy as well as premium paying terms as per his/her needs and requirements. Not just this, the plan offers discounted premium rates for females, marathon runners and non-tobacco users.

Eligibility Criteria:

Age at Entry (as on last birthday)

Minimum

For all cover options 21 years

Maximum

For Regular Coverage and Coverage Booster: 65 years For Smart Coverage Single Pay - 55 years Limited Pay - 60 years minus Premium Paying Term

Age at Maturity (as on last birthday

Minimum

For Regular Coverage and Coverage Booster: 31 years; For Smart Coverage: 65 years;

Maximum

For all cover options 85 years

Premium Maying Mode

Yearly & Monthly

Basic Sum Assured

Minimum

Rs. 50,00,000

Maximum

No Limit

**Last Updated on 05-11-2020

*The values may change as per different plan options

2. IDBI Federal Child Plans

Child plans offered by IDBI Federal Life takes care of all the financial requirements of the child's education and other related expenses. These customised plans provide life coverage to children even in case of the demise of the insured parent(s). The different IDBI Federal life insurance child plans are mentioned below:

i) IDBI Federal Young Star Advantage Plan

IDBI Federal Young Star Advantage Plan offers guaranteed annual payments to the policyholder to fund important milestones of his/her child. The plan helps to boost your savings by providing guaranteed additions and bonuses at the end of every policy year. Also, all the future premiums are waived off under the policy in case of unfortunate death of the assured.

Eligibility Criteria:

Parameters

Miinimum

Maximum

Age at Entry - Life Insured (Parent)

18 years

Regular payment option: 40 years Limited payment option: 45 years

Maturity Age (Life Insured)

29 Years

Regular payment option: 60 Years Limited payment option: 65 years

Policy Term

11, 15 & 20 Years

Premium (exclusive of Goods and Services Tax and cess as applicable)

Rs. 18,000 p.a. - for PPT 6

Rs.25,000 p.a. - for PPT > 6

No Limit

Premium Payment Term

Regular payment option: Equal to policy term No limit (subject to underwriting)

Limited payment option: Equal to policy term less 5 years

**Last Updated on 05-11-2020

ii) IDBI Federal Wealthsurance Future Star Insurance Plan

It is a unit-linked insurance policy that provides life coverage to the policyholder along with triple benefits. On the death of the policyholder, a lump sum benefit is paid to the nominee of the policy. In addition to this, all the future premiums will be waived off, the policy will continue, and the maturity benefit will be paid after completion of the policy term.

Eligibility Criteria:

Parameters

Minimum

Maximum

Age at Entry Insured Person(s) Parent, Guardian, Grand parent

18 years

54 Years

Attained age at Maturity of Insured Person(s)

28 Years

64 Years

Policy Term

10 Years

25 Years

Sum Assured

Sum Assured is fixed as per the below criteria

For insured person of age below 45 years:

Higher of • 10 times the Annual Premium • 0.5 x Policy Term x Annual Premium

For insured person of age 45 years and above:

Premium Payment Term less than 8: • Higher of 7 times Annual Premium • (0.25 x Policy Term x Annual Premium)

 Premium Payment Term equal or greater than 8: • Higher of 10 times Annual Premium • (0.25 x Policy Term x Annual Premium)

Premium Payment Term

5 Years

Up to the policy term

**Last Updated on 05-11-2020

3. IDBI Federal ULIP Plans

IDBI Federal Unit-linked Life Insurance Plans or ULIPs are a combination of investment along with life insurance coverage to deal with uncertainties of life under a single integrated plan. It comes out with returns on investment and helps to face unexpected future events of life. One can create wealth with the help of these plans and develop a habit of savings in order to meet various financial goals. Let us look at the following ULIPs offered by IDBI Federal Life Insurance:

i) IDBI Federal Smart Growth Plan

It is a unit-linked insurance plan that offers life protection cover with the benefit of market-linked returns on investments made towards the policy. It gives options to choose the premium payment term (regular or limited). The plan provides six different fund options based on the risk appetite of the policyholder.

Eligibility Criteria:

Parameters

Minimum

Maximum

Age at entry

1 month

Option 1 - Prime – 55 years Option 2 - Plus – 45 years

Age at maturity

18 years

Option 1 - Prime – 70 years Option 2 - Plus – 60 years

Policy Term

10/15/20/25 years

Premium Paying Term (PPT)

Policy Term 10 & 15 - 5 years

For all Policy Terms - 10/15/20 years

Premium amount

PPT 5 years - Rs. 50,000 annually

PPT 10/15/20 years – Rs. 35,000 annually

No Limit

**Last Updated on 05-11-2020

ii) IDBI Federal Wealth Plus Critical Protection Plan

IDBI Federal Wealth Plus Critical Protection Plan is a non-participating unit-linked insurance plan, which provides a mixture of protection and wealth accumulation in addition to enhanced coverage with critical illness benefit. The plan offers long-term investment goals with good market-linked returns. You are also allowed for unlimited free switches between funds and premium redirection under the policy.

Eligibility Criteria:

Parameters

Minimum

Maximum

Age at entry

18 Years

52 Years

Age at maturity

28 Years

70 Years

Policy Term

10/15/20/25 years

Premium Paying Term (PPT)

Limites: 10 & 15 years

Regular: Equal to Policy Term

Critical Illness Sum Assured

Rs. 5,00,000

Rs. 20,00,000

(subject to maximum of 5 times of Annualized Premium)

**Last Updated on 05-11-2020

iii) IDBI Federal Wealth Gain Insurance Plan

IDBI Federal Wealth Gain Insurance Plan offers financial protection to loved ones in case of death of the policyholder in the form of lump-sum payout or as prevailing fund value, whichever is higher. You can choose between 8 fund investment options according to your risk-return appetite. It also offers loyalty additions after completion of 10 policy years and every 5 years thereafter.

Eligibility Criteria:

Parameters

Minimum

Maximum

Age at entry

5 Years

60 Years (as on last birthday

Age at maturity

18 Years

74 Years (as on last birthday)

Policy Term

10/15/20 years

Premium Paying Term (PPT)

For ages below 50 years : 5 / 10 / 15/ 20 years

For age 50 years and above: 10 / 15/ 20 years

Premium Payment Frequency (PPF)

Monthly and Annually

**Last Updated on 05-11-2020

iv) IDBI Federal Wealthsurance Growth Insurance Plan SP

IDBI Federal Wealthsurance Growth Insurance Plan SP is a unit-linked plan that assists in maximising returns on investment to build a corpus together with the safety of a life insurance cover under a single plan. It is a one-time premium payment policy that pays guaranteed loyalty additions at the end of 5th policy year and every 5 subsequent years to boost your investment.

Eligibility Criteria:

Parameters

Minimum

Maximum

Age at entry

1 month (completed)

70 years

Age at maturity

18 Years

75 years

Policy Term

5 years/ 10 years/ 15 years/ 20 years/25 years

Subject to minimum and maximum maturity age as mentioned above

Sum Assured

Basic sum assured • 1.25 times the single premium

For age at maturity up to 48 years: 10 times single premium

 For age at maturity greater than 48 years:1.25 times single premium

**Last Updated on 05-11-2020

v) IDBI Federal Life Insurance Wealthsurance Future Star Insurance Plan

This unit-linked plan is specially designed to help you build a corpus for your child’s future. The plan offers Life Cover for the parent as well as provides an immediate lump sum payout upon the death of the insured parent. In such unfortunate events, the policy continues, but the future premiums are waived off.

Eligibility Criteria:

Parameters

Minimum

Maximum

Age at Entry Insured Person(s) Parent, Guardian, Grand parent

18 Years

54 years

Attained age at Maturity of Insured Person(s)

28 Years

64 years

Policy Term

10 Years

25 Years

Premium Payment Term

5 years

Upto the policy term

Sum Assured

Sum Assured is fixed as per the below criteria

For insured person of age below 45 years:

Higher of

• 10 times the Annual Premium

• 0.5 x Policy Term x Annual Premium


For insured person of age 45 years and above:

Premium Payment Term less than 8:

• Higher of 7 times Annual Premium

• (0.25 x Policy Term x Annual Premium)


Premium Payment Term equal or greater than 8:

• Higher of 10 times Annual Premium

• (0.25 x Policy Term x Annual Premium)

**Last Updated on 05-11-2020

4. IDBI Federal Savings Plans

With IDBI Federal Savings Plans, the life assured can enjoy financial security with life coverage along with the benefit of savings on investments. These plans offer multiple ways to grow wealth so as to fulfil key milestones at different stages of life. These online investment plans help in systematic and disciplined investment, ensuring that the future remains secure under all circumstances. IDBI Federal Life Insurance offers the following savings plans to its customers:

i) IDBI Federal Guaranteed Wealth Plan

IDBI Federal Guaranteed Wealth Plan is a long-term life insurance plan that provides life cover for 14 years, where the policyholder needs to pay only for the initial 7 years of the plan. Under the plan, there is a flexibility to choose the payout option- lump sum or regular annual income (as per your needs).

Eligibility Criteria:

Parameters

Minimum

Maximum

Age at entry of life insured (last birthday)

10 Years

55 years

Age at maturity of the life insured (last birthday)

-

69 years

Premium

Rs. 35,000

No Limit

Premium Payment Term

Fixed for 7 Years

Policy Term

Fixed for 14 Years

**Last Updated on 05-11-2020

ii) IDBI Federal Guaranteed Savings Plan

IDBI Federal Guaranteed Savings Plan is a non-linked and non-participating life insurance plan, where the life assured has to pay the premium (only once) for guaranteed returns irrespective of market conditions. The policy is liable to provide life coverage, which is 10 times of the single paid premium.

Eligibility Criteria:

Parameters

Minimum

Maximum

Age at entry of life assured (last birthday)

2 Years

45 Years

Age at maturity of the life assured (last birthday)

-

55 Years

Premium

50,000 (further in multiples of 5000)

No Limit

Premium Payment Term

Single

Policy Term

7/10 Years

**Last Updated on 05-11-2020

iii) IDBI Federal Life Advantage Plan

IDBI Federal Life Advantage Plan is a non-linked participating life insurance plan that offers long-term savings with life coverage. The plan helps to boost your savings with bonuses and loyalty additions. It provides the flexibility to choose recurring annual payouts or a lump sum benefit on the maturation date of the policy.

Eligibility Criteria:

Parameters

Minimum

Maximum

Age at entry of life assured (last birthday)

18 Years

40 years for Policy Term 10 years

55 years for other Policy Terms

Age at Maturity of the Life Insured (last birthday)

-

75 Years

Premium

Yearly - 15,000/- for PT 10/15/20 years

Yearly-16,500/- for PT 25 years

Premium Payment Term

5 years (available only for policy term 10); 10 and 15 years

Policy Term

10/15/20/25 years

**Last Updated on 05-11-2020

iv) IDBI Federal Guaranteed Income Plan

IDBI Federal Guaranteed Income Plan is a savings plan that guarantees payouts (regular income or a lump sum amount) as per your requirements. Under the plan, you need to pay premiums only for the first 5 years and enjoy life coverage for 10 years.

Eligibility Criteria:

Parameters

Minimum

Maximum

Age at entry of life assured (last birthday)

8 years for Endowment Option; 13 years for Income Option

50 Years

Age at maturity of the life assured (last birthday)

-

60 Years

Premium (In multiples of 5,000)

Rs. 25,000

Rs. 1,00,000

Premium Payment Term

5 years

Policy Term

10 Years

**Last Updated on 05-11-2020

v) IDBI Federal Secured Income Plan

In this plan, the policyholder can enjoy guaranteed annual income for 10 years by making an investment towards the plan for the initial 10 years of the policy. It provides financial security to your family, along with life coverage for 20 years. It also offers additional protection in case of total and permanent disability of the life assured.

Eligibility Criteria:

Parameters

Minimum

Maximum

Age at Entry (as on last birthday)

8 years

50 Years

Age at maturity of the life insured (last birthday)

-

70 Years

Premium (In multiples of 5,000)

Rs. 30,000

No Limit, subject to Board approved UW guidelines

Premium Payment Term

Fixed - 10 years

Policy Term

Fixed - 20 years

**Last Updated on 05-11-2020

5. IDBI Federal Retirement Plan

IDBI Federal Retirement Plan is meant to provide financial security in the golden years of your life. The plan helps in accumulating wealth through savings over a long-term period and maintain a good lifestyle post-retirement. IDBI Federal offers the below-mentioned retirement plan to its customers:

i) IDBI Federal Guaranteed Lifetime Income Plan

IDBI Federal Guaranteed Lifetime Income Plan offers guaranteed regular income for retirement life via chosen monthly, quarterly, half-yearly or yearly income payouts. The plan offers flexibility to receive deferred or immediate annuity payments along with the option to choose premium payment frequency.

Eligibility Criteria:

Parameters

Minimum

Maximum

Age at Entry

Immediate Life Annuity and Immediate Life Annuity with Return of Purchase Price - 45 years; Deferred Life Annuity with Return of Purchase Price - 50 years

85 Years

Purchase Price

Rs. 1,50,000

No Limit

Annuity Payout Per Instalment

Rs. 1,000 per payout

Rs. 3,000 per payout

Rs. 6,000 per payout

Rs. 12,000 per payout

Premium Payment Term

Single Premium

Annuity Payout frequency

Monthly/Quarterly/Half-Yearly/Yearly

**Last Updated on 05-11-2020

6. IDBI Federal Health Plan

IDBI Federal Health Plan offers financial protection to the policyholder against health care expenses due to hospitalisation. The plan is specially designed to provide complete coverage towards heart and cancer ailments. Under the health plan, one can also opt for an income benefit option (at the inception of the policy) by paying extra premiums. Here's the health insurance plan offered by IDBI Life Insurance Company:

i) IDBI Federal Health & Cancer Shield Plan

IDBI Federal Health & Cancer Shield Plan is a non-linked and non-participating health insurance plan that offers comprehensive health cover against heart and cancer diseases. The plan pays a fixed benefit payout regardless of the actual amount spent on treatment of the specified disease.

Eligibility Criteria:

Age at Entry (Last Birthday)

Minimum

18 Years

Maximum

65 Years

Age at Maturity (Last Birthday)

Maximum

70 Years

Sum Assured (In Rupees)

  • For Heart Care: 

Minimum- Rs. 10,00,000

Maximum- Rs. 30,00,000

  • For Cancer Care: 

Minimum- Rs. 10,00,000

Maximum- Rs. 30,00,000

  • For Heart and Cancer Care:

Minimum- Rs. 20,00,000

 Maximum- Rs. 60,00,000

Premium Payment Term

Same as the Policy Term

Policy Term

Minimum

5 Years

Maximum

20 Years

**Last Updated on 05-11-2020

7. IDBI Federal Group Plans

IDBI Federal Group Life Insurance Plans are offered to the employers or groups of an organisation. These group policies provide life insurance cover to the members or employees based on their annual income. It also provides flexibility to choose and change the sum assured amount (from time to time) as per specific needs. Now, let us check out the range of group plans offered by IDBI Federal life insurance:

i) IDBI Federal Group Term Life Plan

IDBI Federal Group Term Life Plan is a group insurance plan for employers that cater to a wide variety of groups by offering them basic life insurance coverage. This group term plan is for formal and informal groups. It also offers life insurance coverage to members and employees at affordable prices.

Eligibility Criteria:

Parameters

Minimum

Maximum

Entry age of insured member

18 Years

79 Years

Cover ceasing age (of insured member)

19 Years

80 Years

Death Sum Assured

Rs. 5,000 per member

No Limit

Minimum Premium

Rs. 5,000 per scheme

No Limit

Policy Term

IDBI Federal Life Insurance Group Term Life Plan is a one yearly renewable group term insurance plan. The master policy is renewed at the annual renewal date provided all due premiums are paid.

**Last Updated on 05-11-2020

ii) IDBI Federal Group Loan Suraksha Plan

IDBI Federal Group Loan Suraksha Plan is a non-participating, non-linked and single premium group credit life insurance plan. The plan offers 2 cover options- level cover and reducing cover. It also offers the choice of joint life coverage and proportionate coverage along with insurance coverage for the moratorium period (the period before the loan EMIs begin).

Eligibility Criteria:

Parameters

Minimum

Maximum

Group size

50 Lives

No Limit

Entry age of a member (as on last birthday)

15 years (Only for Education loan) 18 years (All other loans)

65 Years

Cover ceasing age of the member (as on last birthday)

-

75 Years

Cover Term

1 Year

20 years (including moratorium period, if any)

Moratorium period

1 Year

7 Years

Death Sum Assured at inception per member

Rs. 50,000

Rs.30,00,00,000

**Last Updated on 05-11-2020

iii) IDBI Federal Group Employee Benefit Plan

IDBI Federal Group Employee Benefit Plan is a unit-linked fund based non-participating life insurance plan for groups and employers. The plan acts as an investment platform for employees to earn market-linked returns. It offers life insurance coverage with 2 fund options to opt for (as per individual requirements).

Eligibility Criteria:

Parameters

Minimum

Maximum

Entry age of insured member (as on last birthday)

18 Years

79 Years

Maturity age of insured member(as on last birthday)

-

80 Years

Death Sum Assured

5,000 per member

Group Size

Minimum: 10 Members

Policy Term

1 year (Annually renewable)

Initial Contribution

15,00,000 (Min)

**Last Updated on 05-11-2020

iv) IDBI Federal Group Micro Insurance Plan

IDBI Federal Group Microinsurance Plan is an ideal and affordable plan for self-help groups, microfinance institutions and NGOs. It provides life insurance cover to its group members and secures (financially) their families after the death of the insured member. Under the plan, no medical tests are required up to a maximum sum assured of Rs. 50,000. Also, you can choose either level cover option or decreasing cover option to receive death benefits under the policy.

Eligibility Criteria:

Parameters

Minimum

Maximum

Entry age of insured member (as on last birthday)

18 Years

60 Years

Maturity age of insured member(as on last birthday)

-

65 Years

Sum Insured

Rs. 5,000

Rs. 50,000

Member Benefit Term

Fixed: 5 Years

Group Size

The group must have at least 20 members

**Last Updated on 05-11-2020

v) IDBI Federal Group Loan Secure Plan

IDBI Federal Group Loan Secure Plan offers protection to the banks and financial institutions against loans taken by the borrowers. The policy covers property loans, home loans as well as plot loans. It also offers a choice of two death benefit options. This plan also provides life cover options for single life, joint life or proportionate cover for co-borrowers of a loan.

Eligibility Criteria:

Parameters

Minimum

Maximum

Group Size

50 Members

No Limit

Entry Age

18 Years

65 Years

Cover ceasing age

20 Years

75 Years

Death Sum Assured

Rs 5,00,000 per member

No Limit

Cover Term

2 Years

30 years (including moratorium period, if any

**Last Updated on 05-11-2020

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PolicyX.com is in partnership with multiple insurance companies to assist its customers with a vast range of life insurance products. It has gained the trust of its existing customers by providing them reliable services to meet their requirements. Other reasons to choose PolicyX.com are listed below:

  • It is an IRDAI approved online insurance web aggregator.
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IDBI Federal Life Insurance: Claim Settlement Process

Register Claim:

The nominee is required to intimate the company about the incident by filing a claim form. The claim form can be downloaded from IDBI Federal's official website or grabbed from the insurer's branch office. This procedure requires the following details:

  • Policy Number
  • Name of the nominee
  • Cause of death
  • Date and time of death of the policyholder

Claim Processing:

The nominee has to attach some relevant documents along with the claim form. Here's the list of documents:

  • Original policy documents
  • Death certificate of the policyholder
  • Medical summary of the policyholder, if died due to illness.
  • In the event of accidental death, a copy of FIR is required together with a post-mortem report.
  • Nominee's bank account details with a cancelled cheque or bank statement.
  • ID proof of the nominee such as voter ID, PAN card, Aadhaar card, etc. (Photocopies attested by a Gazetted Government Officer).

Claim Settlement Payout:

On receipt of all the necessary documents, the insurer will further process the claim and may contact you in case of any clarification. If everything is found true to their knowledge, then the claim amount will be settled and transferred into the nominee's bank account within 15 working days from the date of submission of claim form and documents.

IDBI Federal Life Insurance Company: Contact Details

Contact Address:

Registered Office: IDBI Federal Life Insurance Co Ltd 22nd Floor, A Wing, Marathon Futurex, N. M. Joshi Marg, Lower Parel (East), Mumbai - 400013, India.

Customer Support Phone: 1800 209 0502 (Toll-free)

E-mail Desk: support[at]idbifederal[dot]com (In case you have any queries related to your Application/Policy, the company will respond to you in 24 to 48 hours).

Chat with 'Rehan' (your Virtual Assistant) on the official website of IDBI Federal Life Insurance.

 For Self-service options, you may visit "Customer Portal": https://mypolicy[dot]idbifederal[dot]com.

IDBI Federal Life Insurance: FAQs

1. Is there any mobile application available for IDBI Federal life insurance plans?

Yes, you can stay connected through a mobile application namely, 'IDBI Federal Life Insurance'. It is available on Google Play Store and iOS Apple Store.

2. How to check the policy status of IDBI Federal Life Insurance policies?

To check the policy status for your IDBI Federal life insurance plan, you can call at the company's toll-free number 1800-209-0502. Or you can check it online by visiting the official website of IDBI and clicking on the 'Track Application' button given at the bottom-right side of the page. Enter 'Application Number' and 'Date of Birth' along with the 'code' provided to proceed ahead.

3. How to perform ULIP transactions like fund switch and premium redirection for my IDBI Federal life insurance plan?

First, you need to visit the customer portal from the official website of IDBI Federal Life Insurance. Then click on 'Transact fund switch and premium redirection related transactions'.

Alternatively, you can download the Application for Fund Switch and Future Premium redirection form from the website and email the same on support[at]idbifederal[dot]com from your registered email ID.

4. Are there any TDS charges applicable on partial withdrawals for my IDBI Federal life insurance plan?

Yes, TDS charges are applicable for partial withdrawals, surrender, maturity, and termination payouts in IDBI Federal life insurance plans.

5. Are there any discounts available for women in IDBI Federal iSurance Flexi Term Plan?

Yes, 5% discount rates are available for women in IDBI Federal iSurance Flexi Term Plan.

6. How much amount will I get if I select a lump sum payment of my maturity benefit in the IDBI Federal New Family Income Builder plan?

You will get a lump sum payment equivalent to 6 times of the annual premium after the payout period ends as a maturity benefit in IDBI Federal New Family Income Builder plan.

7. Are there any riders available for the IDBI Federal Termsurance Group Protection Insurance Plan?

Yes, different riders such as critical illness rider, accidental death rider, and terminal illness cover are available for IDBI Federal Termsurance Group Protection Insurance Plan.

8. Is there any medical test required for the Termsurance Sampoorna Suraksha Micro-insurance Plan?

No, there is no medical test required for the Termsurance Sampoorna Suraksha Micro-insurance Plan.

9. Will I get any loyalty additions in my IDBI Federal Life Insurance Wealth Gain Plan?

Yes, guaranteed loyalty additions will be added at the end of each policy year in IDBI Federal Life Insurance Wealth Gain Plan that helps in boosting your savings for your investment made towards the policy.

10. How many fund options are available under the IDBI Federal Wealthsurance Growth Insurance Plan?

There are 8 fund options available under the IDBI Federal Wealthsurance Growth Insurance Plan that allows the policyholder to invest in one or more funds as per his/her choice.

Last updated on 05-11-2020