IDBI Federal life insurance Co.Ltd is a joint venture of three corporations, IDBI Bank, considered one of India's top commercial and growing bank and Federal Bank, one of the strongest banks in India in the personal sector along with Ageas, an international insurance company primarily based out of Europe.
Company’s Past Performance
IDBI Federal life Insurance Co Ltd has installed itself as one of India's growing life insurance company as it has managed to obtain top image even within five years of the graduation of its operations.
The IDBI Federal Life insurance Company’s outstanding and innovative portfolio of products includes wealth control and safety offerings along with the availability of retirement solutions. The business enterprise has an entry to branches of both IDBI bank and Federal bank.
Federal bank is a private bank based in Aluva, Kochi, Kerala. Mounted on the pre-independence technology, the bank these days has many branches and ATMs spread throughout different states. It has received numerous awards for its innovations and smart use of technology, establishing itself as one of the strongest banks in India.
Ageas is a multinational insurance company that comes amongst the top insurance companies of Europe
Awards and Accolades
Top 10 Most Trusted Life Insurance brands of India in the Economic Times' Brand Equity Survey
Life Insurance company of the year 2017 at the India Insurance Summit and Awards
Insurance Company of the year 2017 at Assocham Insurance Excellence Awards
Life Insurance Company of the Year - Medium & Small (Private Sector) at the Fintelekt Insurance Awards 2017
A unit-linked insurance plan that gives you life cover and helps build wealth over the long term.
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.
A unit-linked plan that lets you choose how to build your wealth.
A single premium unit-linked plan that helps you maximise returns on your investment, with a one-time effort.
Raising a claim is an easy and problem free procedure with IDBI Federal. Clients ought to observe a 3-step system to register a death claim.
Step 1 - Register The death claim
The claimant needs to register a death claim in writing, alongside submitting the specified files. These consist of the death claim form, authentic policy document, attested replica of dying certificates issued by Municipal corporation, nominee's picture identification and residential evidence (attested reproduction), medical data in the time of death and documents relating any past illnesses which the insured may additionally have suffered from, cancelled cheque of the nominee's bank account (with the IFSC code). The enterprise will sign a claim as soon as the aforementioned has been received.
Step 2 - Processing The claim
Once the files had been acquired, the claim department will check out the claim. Provided that no further details or files are required concerning the claim, the insurance business enterprise will settle the death claim in a duration of under 8 days.
Step 3- Claim payout
Once the claim has been settled, IDBI Federal will transfer the due claim amount to the nominee's bank account via Electronic Fund Switch (EFT). If the amount can't be transferred through EFT, the coverage agency will ship the payment cheque to the nominee's registered mailing address.
To recognize the repute of your utility, visit the IDBI Federal website. You must fill the details in the track sheet to know your status.
If you pass over the premium, your plan will lapse and you may need to revive it within 2 years from the day of lapsation. Refer your product file to know more about this.
The claim must be informed at the earliest and you could refer the following hyperlink to avail the death benefit form through their official internet site.
If the authentic policy record is lost or out of place, you will be asked to submit a few exchange files and the claim can be processed..