IDBI Federal – Termsurance Sampoorn Suraksha Micro-Insurance Plan

offered by , is a comprehensive life insurance plan which is affordable and simple in that you can opt for a life cover of Rs.1 crore for a policy term of 20 years at Rs.5646* p.a as premium. You can also avail of various benefits such as discounts on high sum assured, hassle-free online buying mode, accident death benefit option, discounts for women and the convenience of getting your medical tests done at your home.

* (male, non-smoker. Rate exclusive of edu cess and service tax)

Eligibility Criteria for iSurance Online Term Insurance Plan

  1. Age at Entry
    1. Minimum: 18 years
    2. Maximum: 50 years

Features of iSurance Online Term Insurance Plan

The salient features of this IDBI Federal term insurance plan are listed below:

  1. Policy Term
    1. Minimum: 10 years
    2. Maximum: 25 years
  2. Premium Payment Terms: Equal to policy term
  3. Premium Payment Frequency: Annual
  4. Annual Income
    1. 18 to 30 years: Rs.5 lakhs
    2. 31 years and above: Rs.7.5 lakhs
  5. Sum Assured/Life Cover

    Your health and financial profile is assessed before life cover is provided based on the insurance provider’s discretion

    1. Minimum: Rs.50 lakhs
    2. Maximum: Rs.30 crore

Benefits of iSurance Online Term Insurance Plan

The following are the main benefits of the plan

  1. Death Benefit: In the unfortunate event of your death within the policy term, your nominee will receive highest of the following:
    1. 105% of premiums paid
    2. 10X annual premium (under 45 years) or 7X annual premium (45 years and above)
    3. Life cover chosen
  2. Rider Benefits: You can opt for the accidental death benefit cover. The maximum limit of this cover is capped at Rs.2 crore (not above the life cover). The rider premium should not exceed 30% of the life cover premium. The accident death benefit is payable when the death occurs from an injury as a result of an accident (death must occur within 180 days of the injury)
  3. Surrender Benefit: There are no surrender benefits under this term insurance plan
  4. Tax Benefits: You can avail of tax benefits under Section 80C and Section 10 (10D) of the Income Tax Act, 1961
  5. Hassle-free process: You can buy this term 24x7 in a simple and quick process
  6. Discounts for women: Under this plan, women can avail of discounts in terms of lower premiums compared to men
  7. Discounts for high Sum Assured: If you opt for a sum assured of above Rs.75 lakhs and above, you can avail of discounts as listed in the table below:
Sum Assured Discount
Rs.75 to Rs.99 lakhs 0.025
Rs.1 crore and above 0.050


Arun Malhotra, a 30-year-old IT employee (non-smoker) opts for the iSurance Online Term Insurance Plan for a life cover of Rs.1 crore and a policy term of 25 years. Arun, however, does not opt for the accidental death benefit option. Arun has to pay an annual premium of Rs.6445 (exclusive of service tax and edu cess). In the unfortunate event of your death within the policy term, your nominee will receive the entire life cover opted by you, i.e, Rs.1 crore.


  1. Are there any maturity benefits offered under this plan?

    No. There are no maturity benefits offered under this plan

  2. What if i do not pay my premiums on time?

    If you do not pay your premiums before the due date, you will be given a grace period of 30 days within which you have to make the payments. If you do not make the required payments, your policy will lapse.

  3. How can i revive my policy?

    You can revive your policy if you make a request and submit the required documents within 2 years of your last unpaid premium.

    • Nominee is paid the life cover
    • Policy term is complete
    • Fraud (Section 45 of Insurance Act 1938)
    • Not reinstating your policy within 2 years  When can the policy be terminated?

      Your policy can stand terminated under certain conditions as listed below:

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

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

This Page is BLOCKED as it is using Iframes.