• IDBI Federal Term Insurance

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    The term plans from IDBI offer life cover be it for the individual or for an employer looking to provide the employees and other key elements such as customers and suppliers the benefit of life cover. If there is one thing certain in life, it is that life itself is uncertain. People do not want to leave their families in a rough state should something happen to them and the federal term plans from IDBI provide the sense of security for policyholders. They know if something were to happen to them, their family’s financial future will be secured and they will not need to face extra hardship.

    Types of IDBI Federal Term Plans:

    1. Termsurance Sampoorn Suraksha Micro-insurance Plan
    2. iSurance Online Term Insurance Plan
    3. Termsurance Life Protection Insurance Plan

    iSurance Online Term Plan

    Feature

    Description

    Term of the policy

    Minimum term of the policy is 10 years

    Maximum term of the policy is 25 years

    Premium Payment Terms

    Premium payment term is equal to the policy term chosen

    Premium Payment Mode

    Annual

    Age of entry

    Minimum age is 18 years as at last birthday

    Maximum age is 50 years as at last birthday

    Sum assured

    Minimum sum assured is Rs 50 lakhs

    Maximum sum assured is Rs 30 crores

    Premium Amount

    Minimum amount is Rs 2400

    There is no maximum limit

    Riders

    Rider for accidental death benefit is provided with a maximum cover of Rs 2 Crores

    Benefits

    Death benefit is payable

    Termsurance Life Protection

    Feature

    Description

    Term of the policy

    Minimum term of the policy is 10 years

    Maximum term of the policy is 30 years

    Premium Payment Terms

    Single payment and regular payment. Regular payment term is equal to the term of the policy

    Premium Payment Modes

    Annual, Half-yearly, quarterly and monthly

    Age of entry

    Minimum age is 18 years as at last birthday

    Maximum age is 60 years as at last birthday

    Age when policy reaches maturity

    70 years is the maximum age of maturity for the policy

    Premium Amount

    Based on age of the life assured and plan option chosen

    Sum assured

    Minimum sum assured is Rs 10 lakhs

    Plan options

    Option A is pure protection option

    Option B is return of premium on maturity

    Benefits

    Death benefit is payable

    Maturity benefit is return of premiums paid on maturity for Option B

    There is surrender value assigned to the policy

    Termsurance Sampoorn Suraksha

    Feature

    Description

    Term of the policy

    Minimum term of the policy is 5 years

    Maximum term of the policy is 10 years

    Premium Payment Terms

    The terms for premium payments are either single payment or regular payment

    Premium Payment Mode

    Annual Payment

    Premium amount

    Minimum premium for regular payment is Rs 100

    Minimum payment for single payment is Rs 400

    Premium amounts have to be increased in multiples of Rs 100

    Sum assured

    Minimum sum assured is Rs 5000

    Maximum sum assured is Rs 50,000

    Age of entry

    Minimum age is 18 years as at last birthday

    Maximum age is 55 years as at last birthday

    Age when policy reaches maturity

    Minimum is 23 years

    Maximum is 60 years

    Riders

    One rider of accidental death benefit is provided

    Benefits

    Death benefit is payable

    There is no maturity or survival benefit

    There is surrender value

    Features of IDBI Federal Term Plans:

    • The policies are hassle free and easy to acquire. Policies can be bought of the IDBI website in a matter of minutes

    • The policies do not offer loan facility against the sum assured or premium paid.

    • The policy provides flexible premium payment terms and can be catered to suit every individual’s needs

    • The policies offer discounts for large sum assured

    • The policies offer tax benefits for premiums paid

    • Certain policies such as iSurance plan offers special discounts to women

    IDBI Federal Term Insurance FAQs:

    1. Q) Are there grace period provided in the policies for premium payments?

    A) Grace period for the policies are 30 days following which missed premiums may lead to the policy being lapsed

    2. Q) What is the free look period of the policy?

    A) The free look period for policies purchased is 15 days

    3. Q) Is there a suicide exclusion provided for the policy?

    A) If the life assured commits suicide whether in a sane or insane state of mind within 12 months from the date of commencement of the policy or revival of the policy or issue of the policy, the nominee stands to receive 80% of all premiums paid.

    4. Q) What are the tax benefits of the policy?

    A) The premiums paid towards the policies are eligible for tax deductions under sections 80C and 10D of the income tax act

    Other Products

    This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

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

    IDBI Federal Term Insurance Reviews

  • Page 1 of 2 1 2
    • IDBI Federal Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I hold a life insurance policy with IDBI federal life insurance from last 1.5 years and it is a long term policy. The tenure of this insurance policy is 22 years and i pay my premium every month through ECS. Payment options are convenient for me and the coverage value is good in this insurance.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 16, 2018
    • IDBI Federal Life Insurance
      "Protection for my house and me"
      0.5 5.0/5 "Blown Away!"
      Based on home loan, Bank gave me life insurance from IDBI Federal. Which protect me and home, my monthly premium is around Rs. 1200 it has the tenure of 30 years, if some thing happens to me, I will not be paying the amount. Hence they take from the insurance company. It has home protection as well, if some thing happens to the building in term of earth quake, natural calamities, third party damage its covers my home.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 06, 2018
    • IDBI Federal Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I don't have much experience regarding the service of IDBI for my home loan service because I have not interacted much with them the documents part was fine there was no good offers the customer service is good the payments where through online it was totally a good service from IDBI for my life insurance service.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 01, 2017
    • IDBI Federal Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I hold a life insurance policy with IDBI federal for past 4 years. This policy has the tenure of 18years. The customer support is good with IDBI. I pay the premium of Rs,2000 every year. The plan benefits and the coverage is good with this policy. I pay the premium through online.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 11, 2017
    • IDBI Federal Life Insurance
      "Good protection for family"
      0.5 4.0/5 "Great!"
      Quarterly I am paying the premium around Rs.5240, it has the tenure of 25 years. After that I wont get any return, my nominees will get the reimbursement around Rs.1 Crore for natural death, if accidental death will get around Rs.1.85 crore.
      Was this review helpful? 1
      , pune
      Reviewed on Jun 23, 2017
    • IDBI Federal Life Insurance
      "Good for all individual"
      0.5 4.0/5 "Great!"
      I am making the premium of Rs.10,000 on annual basis, it has the tenure of 30 years, its completely death risk policy. My dependent will get the reimbursement of Rs.1.4 crores + accidental benefits Rs.50 lakhs, I make the online payment by IDBI netbanking its great.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 19, 2017
    • IDBI Federal Life Insurance
      "Have purchased an Insurance but ....."
      0.5 2.5/5 "Just OK"
      Service is very bad and they do not even call back to address your query and also do not tell you the status of it.It would be better if they are really serious to give better service to customers .It looks like firms are only interested in getting the business and afterwards forget them.
      Was this review helpful? 1
      , bangalore
      Reviewed on May 31, 2017
    • IDBI Federal Life Insurance
      "Good"
      0.5 5.0/5 "Blown Away!"
      I am having life insurance policy with the IDBI federal insurance company and the premium is lesser one with them and the coverage is more. Services are good one with them and the term is around thirty years of time, and the coverage is for one crore Rupees.
      Was this review helpful? 1
      , ahmednagar
      Reviewed on May 23, 2017
    • IDBI Federal Life Insurance
      "Good for individual and needy"
      0.5 3.0/5 "Satisfactory"
      I have life insurance with IDBI federal for about 25 years. The policy has completed and I got the money back as well. The tenure is 25 years for this policy. The policy coverage need to be improved in future. According to me every individual good to have the life insurance for safety purpose not for for the investment purposes.
      Was this review helpful? 0
      , bhopal
      Reviewed on Apr 05, 2017
    • IDBI Federal Life Insurance
      "Scope for improvement"
      0.5 2.0/5 "Expected more"
      IDBI federal life insurance policy is not really working good becuase they do not have good network connectivity for branches to resolve the customer queries. I have taken the ULIP based product with them and they used to deduct around 20% of the charges while in paper it used to get mentioned as 6% of the charges. Customer service is not really good with them as of now.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 06, 2017
    • IDBI Federal Life Insurance
      "It is a good accidental policy"
      0.5 4.0/5 "Great!"
      IDBI term insurance is really good,. The premium what I pay its a one time payment of rs 4000 and the coverage amount is 50 lakhs. I am supposed to pay 4k on an annual basis and this was offered for a period of 25 years.
      Was this review helpful? 1
      , kolkata
      Reviewed on Nov 17, 2016
    • IDBI Federal Life Insurance
      "IDBI FEDERAL SAVINGS INSURANCE PLAN- FRAUD "
      0.5 0.5/5 "Unacceptable"
      I have a life insurance policy with IDBI Federal insurance company and which is 100% fraud policy... Never take this policy in your life. If you want to lose your money you can take this policy. Agent has told some stories that you can surrender any time, you can get full amount with interest. etc IDBI Federal is a fraud
      Was this review helpful? 1
      , hyderabad
      Reviewed on Aug 26, 2016
    • IDBI Federal Life Insurance
      "Fabulous"
      0.5 5.0/5 "Blown Away!"
      I have life insurance policy with IDBI federal insurance company and the coverage value is around 50 lakh Rupees. Plan benefits are really good with them and the payment mode is at single shot. Customer service is very good with IDBI federal insurance company.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 02, 2016
    • IDBI Federal Life Insurance
      "Better policy "
      0.5 4.0/5 "Great!"
      My life insurance is from IDBI federal. My friend who is working in the bank suggested this policy to me. The total tenured period is 15 years and the insurance covers death and accidental benefits. I went with this insurance because of good returns and better coverage.
      Was this review helpful? 0
      , patna
      Reviewed on Jun 07, 2016
    • IDBI Federal Life Insurance
      "Proper intimation made"
      0.5 4.0/5 "Great!"
      I like the service provided by IDBI federal related to the Life Insurance services.They intimate about the policy dates and other intimation related to the Insurance are given through the phone calls.I am having a 10years coverage plan with Federal Insurance.
      Was this review helpful? 0
      , nellore
      Reviewed on May 03, 2016
    • IDBI Federal Life Insurance
      "Happy benefits!"
      0.5 4.0/5 "Great!"
      The IDBI federal Life insurance comes with a lockin period of 5 years. The policy holder will be getting benefit after 5 years and that can be extended up to 10 years to get some extra bonus. Premium payment is made on yearly basis which is pf 49K for a year.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 24, 2016
    • IDBI Federal Life Insurance
      "The manger is very supportive..."
      0.5 3.0/5 "Satisfactory"
      Ease of opening the life insurance policy with the IDBI Federal and along with that they also provided RD and PPF account. The relationship manger is very helpful and so I took decision of opening the life insurance. It is a cash back guaranteed plan.
      Was this review helpful? 0
      , belgaum
      Reviewed on Jan 15, 2016
    • IDBI Federal Life Insurance
      "Good Plan "
      0.5 4.0/5 "Great!"
      I have taken life insurance from idbi federal in which we the premium is rs.25,000 yearly once will get the sum assured amount after 20 years. Policy coverage offered is five lakhs .They cover the accidental and natural death. We can make the payment through online , cheque and cash .
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 11, 2016
    • IDBI Federal Life Insurance
      "Good investment...."
      0.5 4.0/5 "Great!"
      IDBI federal life insurance is nice. From investment point of view its really good. That was taken last 4 years back and the tenure was 10 years. After maturity period I will get 10lakhs and that was for my daughter. I used to make the payment through on line once in a year.
      Was this review helpful? 0
      , pune
      Reviewed on Dec 28, 2015
    • IDBI Federal Life Insurance
      "good plan "
      0.5 4.0/5 "Great!"
      I haven taken life plan for 25 years from idbi federal. In which we have to make the payment for 15 years and after that we will be getting the amount as per our convenient. Within the tenure any unfortunate take place to the insure they cover the whole amount. The ecs option is so not given to the customer choice.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 21, 2015
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