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IDBI Federal Endowment Plans

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Life is unpredictable. Things change in matter of seconds, you never know when u might die and you don’t have control over it. But what you do have a control over is securing your family’s and your child’s future. Bringing a child into this world comes with a lot of responsibility. You have to make sure that your child gets the best of the education and a good life to make a better future. Hence, you have to secure your child’s future. IDBI Federal offers endowment plans to ensure the safety of your loved ones.

Endowment Policies Offered by IDBI Federal Life Insurance:

Following are the endowment plans that have been offered by IDBI Federal:

1. Childsuarance Savings Protection Insurance Plan:

This is a non-linked participating endowment plan that ensures that your child’s future financial needs are fulfilled.

Features and Benefits:
  • Minimum entry age is 18 years and maximum entry age is 50 years.
  • The sum assured on maturity is subject to the minimum premium paid by you. There is no maximum limit.
  • You get guaranteed annual payout for all the important milestones.
  • Bonuses are added to your savings.
  • In the event of your unfortunate death, immediate lump sum will be paid out and the future premiums will be waived.
  • Your nominee will get guaranteed annual benefits and bonuses in the event of the unfortunate event of your death.
  • You get survival benefit and death benefit with this plan.
  • Policyholder will be eligible for income tax benefits and exemptions as per the pertaining Income Tax Laws of India.

2. Lifesurance Savings Insurance Plan:

This is a fixed term non-linked participating plan. You can avail the benefit of long term savings and life cover.

Features and Benefits:
  • Minimum age at entry is 18 years. Maximum age at entry is 55 years.
  • Minimum sum assured depends on the premium payment and policy term. There is no maximum limit.
  • The policy holder can avail tax benefits as per prevailing tax laws of India.
  • With this plan you get lump sum payout at maturity and guaranteed additions to safeguard your savings while offering bonuses to boost your savings.
  • You also get accidental death benefit.
  • You get rebate on high sum insured.
  • This plan offers discount to females.
  • You can avail the loan provision of up to 85% of the policy’s surrender value.

3. Incomesuarnce Guaranteed Money Back Insurance Plan:

This is a non-linked, non-participating money back plan.

Features and Benefits:
  • Minimum age at entry is 18 years and the maximum age at entry is 55 years.
  • Death sum assured is 10 times the annual premium.
  • Guaranteed annual payouts are paid at the end of every year from 6th to 10th policy year.
  • Limited premium paying term.
  • Financial protection is offered against uncertainty.
  • Tax benefits under Section 80C and 10(10D) of Income Tax Law, 1961 are available to you.
  • You can avail the loan provision of up to 85% of the policy’s surrender value.
  • You can surrender the policy after paying 2 annual premiums if there is any family emergency.

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

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