The key features of the IDBI Federal Lifesurance Whole Life Savings Insurance Plan are listed below. The IDBI Federal Lifesurance Whole Life Savings Insurance Plan offers a lump sum payout at the end of the policy term and another payout when the policyholders attains the age of 100. New Delhi: LIC-controlled IDBI Bank on Thursday said it has sold 23 per cent stake in life insurance venture to foreign partner Ageas for Rs 507 crore. IDBI federal Lifesurance Whole Life Savings Insurance Plan is a participating savings plan which runs till you attain 100 years of age. The content on this website is meant only for general information purpose and does not and shall not be construed as any solicitation, procurement, display, aggregation, marketing or advertisement of insurance products. Sum Assured:The sum assured depends on the entry age of the policyholder and the policy term. No. Guaranteed **, *Please note that the quotes shown will be from, Written By: PolicyBazaar - Updated: 16 March 2016, Follow, like, tweet or post. Approval for registration as an Insurance Broker is pending with the IRDAI. If you want to choose a unit-linked insurance plan that can give you both life cover as well as wealth over the long term, Wealth Gain Insurance Plan from IDBI Federal Life Insurance can be suitable for you. *The information provided on this website/page is only for information sake. Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana - 122001, IRDAI Web aggregator Registration No. On the IDBI Federal Life Insurance website, customers can avail insurance products of their choice, track their applications, calculate the premiums, make claims, take advice, and check the performance of their investments. BankBazaarInsurance is not an insurance intermediary and hence does not endorse or solicit any such products. IDBI Bank has completed stake sale of 23% of joint venture IDBI Federal Life Insurance Company to Ageas Insurance International NV. **Discount is offered by the Insurance company as approved by IRDAI for the product under File & Use guidelines #On the basis of your profile, CIN: U74999HR2014PTC053454 Policybazaar Insurance Brokers Private Limited (formerly known as Policybazaar Insurance Web Aggregator Private Limited) Policybazaar is currently registered as a Web aggregator by IRDAI. Enjoy Guaranteed Returns along with Tax benefit ***, IDBI Federal Lifesurance Whole Life Savings Insurance Plan is a whole life plan covering the policyholder till 100 years thereby taking care of protection requirement throughout the life of the individual, Annual premium in Rupees and benefit illustration, Grace Period: 15 days grace period is allowed for payment of premium in monthly mode and 30 days for annual and half-yearly mode. IDBI Federal Life Insurance Updated on November 27, 2020 , 1621 views. Your money is Safe. We thank you for being a valued customer", IDBI Federal Lifesurance Whole Life Savings Insurance Plan, Reduce taxable income by up to Rs. Policyholder enrolled with the IDBI Federal Lifesurance Whole Life Savings are liable to tax benefits under the Income Tax Act of 1961. As one of India's growing life insurance companies, IDBI Federal Life Insurance offers a diverse range of wealth management, protection and retirement solutions to individual and corporate customers. Its authorized share capital is Rs. If the policyholder has held the policy for three consecutive yet has failed to pay the premiums, the policy will automatically be converted to the reduced paid-up benefit structure. If he/she disagrees with any of the terms and conditions of the policy, they can return the policy. Corporate Identity Number (CIN) – U66010MH2007PLC167164. Insurance is the subject matter of solicitation. Guaranteed additions and bonuses enhance the corpus while you get another benefit on plan maturity. Policyholders and nominee (if the policyholder is not alive) are granted an additional lump sum payout when the policyholder attains the age of 100. Medical examination may be required in some cases, based on the sum assured and the age of the person. IDBI Bank completed sale transaction of its 23 per cent stake to Ageas Insurance International on December 31, 2020. Section 10 (10D) of the Income Tax Act, 1961, for proceeds from maturity and death benefits. Once the surrender value is paid to the policyholder, the policy is terminated. We are showing some of the features of this plan below. IRDAI Registration No. Premium: For monthly premium payment mode, the premiums amount to Rs.12,000 per annum and for all other modes (annually, half-yearly or quarterly), the premium amounts to Rs.10,000 per year. © Copyright 2020 bankbazaarinsurance.com. IDBI Federal Life Insurance made history when they broke into making profits by the 5th year of being formed. 55 years (if maximum age without accidental death benefit cover is 75). The nominee will receive all the benefits following the untimely death of the policyholder. 135, 19th Dec, 07. IDBI Bank on Thursday said that it has completed sale transaction of its 23% stake in IDBI Federal Life Insurance Company Limited (IFLI) to Ageas Insurance International JV for a … The company earlier operated under the name of IDBI Fortis Life Insurance Company and later in 2010 when Fortis changed its name to Aeges, the name of the company was changed too. Policyholders are granted the guaranteed sum assured, 10 times the annualised premium or 105% of the premiums paid till date, the vested reversionary bonuses (accumulated from the end of the policy), and the terminal bonus (if applicable). Request received - loud & clear!Returning you to where you were... Keeping in mind the need to save for the future or have a backup in case of an eventuality (death or disability), IDBI Federal Life Insurance has launched the IDBI Federal Lifesurance Whole Life Savings Insurance Plan. Annually, half-yearly, quarterly, monthly. The IDBI Federal Lifesurance Whole Life Insurance Plan offers discount for premiums for women customers. IDBI federal Lifesurance Whole Life Savings Insurance Plan – A traditional whole of life plan which covers the individual till 100 years of age and also provides saving facilities. Once the policy attains the surrender value, policyholder can take a loan amount against the policy up to 85% of the surrender value. It offers a wide variety of life cover, retirement options, and capital management solutions to both individuals and corporate clients. The product information for comparison displayed on this website is of the insurers with whom our company has an agreement. IDBI Bank share rose 4% in trade today after the lender completed stake sale of 23% in joint venture IDBI Federal Life Insurance Company to Ageas Insurance International NV. The IDBI Federal Lifesurance Whole Life Savings Insurance Plan is a non-linked participating whole life savings plan. Click on the IDBI Broucher link and download it to get the clear idea about the each plan offered by the IDBI federal life Insurance Company. IDBI Bank is likely to sell 23 per cent stakes in IDBI Federal Life Insurance Co to Belgian multinational insurer Ageas Insurance International. 06 Registration Code No. The nominee is entitled to an additional sum equal to the guaranteed sum assured if the policyholder opts for the accidental death benefit. Idbi Federal Life Insurance Company Limited is a Public incorporated on 22 January 2007. The features and benefits of the plan are as follows: Premiums under the plan are payable for a limited tenure only The Surrender value will be higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV), GSV = % of Premiums + % of vested bonuses till PPT and after PPT. IFL 1533051) and Registered office at P.B. IDBI Federal Life Insurance is a joint venture between IDBI Bank, Federal Bank and Ageas, a multinational insurance giant based in Europe. Secure. All rights reserved. If policyholder surrenders the policy after the completion of three policy terms, the policyholder is entitled to the guaranteed surrender value and the special surrender value. Having branches spread across the country, IDBI Federal has a top-notch customer service that keeps the satisfaction of each and every of their customers as their top priority. As per section 38 of the Insurance Act, 1938, policyholder can assign the policy. Corporate Identity Number (CIN) – U66010MH2007PLC167164. Policybazaar does not in any form or manner endorse the information so provided on the website and strives to provide factual and unbiased information to customers to assist in making informed insurance choices. The IDBI Federal Lifesurance Whole Life Savings Insurance Plan offers a lump sum payout at the end of the policy term and another payout when the policyholders attains the age of 100. 24,999,999,500 and its paid up capital is Rs. Policyholders can choose the premium or contribution towards the. In case of untimely death of the policyholder, the nominee is entitled to: At the point of maturity, the policyholder is entitled to the guaranteed sum assured in the form of a lump sum payout and in addition he/she will also receive the vested guaranteed addition (accrued in the first 5 years of the policy) and the vested reversionary bonuses (accrued from the 6th year of the policy). 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