IDBI Federal - Termsurance Life Protection Insurance Plan

1. Policy Term
   1. Minimum: 10 years
   2. Maximum: 30 years
2. Premium Payment Terms: Regular and Singular
3. Plan Options
   1. Pure Protection: This option offers large cover at a low cost. No maturity benefits are offered under this option. In the event of your death, your family receives death benefit.
   2. Return of premium upon maturity: If you survive the policy term, you will receive all the premiums (excluding service tax and extra premiums) paid. In case your death within the policy term, your nominee will receive the death benefit
4. Premium Payment Frequency: Annual, Single, Quarterly, Half-yearly, Monthly
5. Sum Assured/Life Cover

• Minimum: Rs.5 lakh
• Maximum: No limit (subject to underwriting requirements)

Benefits of IDBI Federal Termsurance Life Protection Insurance Plan

The following are the main benefits of the plan

1. Death Benefit: The following table shows the death benefit offered under the single premium option (before maturity)

The following table shows the death benefit offered under the regular premium option

1. Discounts for women: Women can avail of premium discounts under this plan
2. Discounts for high Sum Assured: If the Sum Assured is above Rs.10 lakh or above, you can avail of a discount
3. Tax Benefits: You can avail of tax benefits under Section 80C and Section 10 (10D) of the Income Tax Act, 1961

Example

Adesh Varma, a 30-year-old IT employee, opts for a regular premium pure protection Termsurance for sum assured of Rs.10 lakh on an annual premium payment basis for a policy term of 10 years. He pays annual premium of Rs.2300* (excluding education cess and service tax). In the unfortunate event of Adesh's death, his nominee will receive the death benefit. The policy will be terminated after payment of the death benefit. In case Adesh outlives the policy term, he will not receive any maturity benefits.

* Indicative only. Exact premium may vary due to underwriting requirements

GST of 18% is applicable on life insurance effective from the 1st of July, 2017