IDBI Federal Life Child Plans

Children are the future of any country. Ensuring their well-being is essential. In times of economic uncertainty such as these, it is up to their parents to make sure that their lifestyle is not in jeopardy due to lack of finances. Life insurance policies are essential for this very reason. Policies come with varied requirements and can also be customised. IDBI Federal life offers a policy that is tailor made to ensure the well-being of a child.

Why IDBI Federal Life Insurance?

When procuring a life insurance policy from any company, it is important for customers to opt for a reputed one. is one such company that is currently one of the leaders in the life insurance market. It is also one of the fastest growing companies. It is a joint venture between IDBI Bank and Federal Bank. As of 2015, they have issued over 7 lakh policies to customers in India.

Childsurance Savings Protection Insurance Plan

This plan is tailor made for those looking to secure their child’s future in the most convenient way possible.


  • Based on the policy tenure chosen, customers receive assured yearly payouts in either the last three or five years of the insurance policy.
  • Right from the initial year of the policy, customers receive reversionary bonus. In case there are any terminal or interim bonuses, they would be paid during maturity.
  • In case of untimely death of the insured, the nominee would receive an immediate lump sum payout. Death sum is also assured for the child’s immediate necessities.
  • In case untimely death of insured, future premiums will be waived. However the assured yearly payouts and other bonuses will be paid on their due date.
  • Customers receive two tax benefits under Section 80C of Income Tax Act, 1961. In addition to this, under Section 10(10D), a tax free maturity amount is also provided.
  • Policyholders have the freedom to decide the assured maturity amount, premium payment tenure, policy tenure and the mode of payment based on the needs of their child.
  • Loans can be availed against this policy.


Mr. Neeraj Rao procured the above policy to ensure the future of his daughter. He was 32 years when he procured and the sum insured for maturity was Rs. 5 lakhs. He pted for a premium payment term of 15 years and a policy term of 20 years. His annual premium amount that he paid was Rs. 32,405 excluding cess and tax. The policy commenced on 2012 and from 2028 to 2032, he received a lakh every year as assured yearly payouts. At 4 percent per year, his bonuses would total up to a lakh. He would receive Rs. 6 lakhs as the total benefit amount which could be used for his daughter’s education or any other requirements.


Ensuring a child’s secure future is of paramount importance as they are the custodians of the future. Procuring the is therefore essential. Customers should research and review all their options before deciding on a particular policy. Certain factors such as financial requirements, reputation of the company and the claim settlement ratio must be kept in mind before opting for one particular policy.

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

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