IDBI Federal Life Insurance Co Ltd. is a three way joint-venture of IDBI Bank, an Indian development and commercial bank; Federal Bank, one of India’s leading [peacock term] private sector banks and Ageas, a multinational insurance giant based out of Europe. We Would love to interact with you, IDBI Federal Lifesurance Whole Life Savings Insurance Plan, idbi-federal-lifesurance-whole-life-savings-insurance-plan:traditional plan, This plan is a participating traditional Whole life plan with limited premium payment term, The individual is covered up to age 100  years, Lump sum amount paid at the end of PPT and another at policy anniversary after the policyholder reaches 100 years of age, Guaranteed Additions  and Non-Guaranteed reversionary bonuses grow the corpus, The Guaranteed Additions are paid for the first 5 policy years @ 5% of the Sum Assured, On survival till the end of PPT, the Sum Assured + vested Guaranteed Additions + accrued Reversionary bonuses is paid, On death the Sum Assured on death +vested Guaranteed Additions + Accrued bonuses + terminal bonus, if any, is paid to the nominee, On the policy anniversary after reaching 100 years, (higher of the guaranteed SA or 10 times the annual premium or 105% of premiums paid) +vested bonuses from the end of PPT till 100 years + terminal bonus, if any is paid, Income tax benefit under Sections 80C and 10(10D) for premiums paid and claims received respectively, The policy provides loan facility of up to 85% of the Surrender value with a minimum amount of Rs.5000, There is the option of availing Accidental Death Benefit Rider, High Sum Assured discounts for higher coverages, In case of suicide within 12 months from inception, 80% of total premiums paid is returned and within 12 months of revival, higher of 80% of total premiums paid or acquired Surrender Value is paid to the nominee. 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. Approval for registration as an Insurance Broker is pending with the IRDAI. *The information provided on this website/page is only for information sake. The bank's shareholding in the insurance joint venture now stands at 25% from 48%. 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. 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. Rs.12,000 per year for monthly mode IDBI Federal Life Insurance is one of the fastest growing Insurance companies in India. To be eligible for the benefit, death should occur within 180 days from the occurrence of the accident. 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. 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. Sum Assured:The sum assured depends on the entry age of the policyholder and the policy term. IDBI Federal is one of the up and coming life insurance companies in the industry. As per section 38 of the Insurance Act, 1938, policyholder can assign the policy. Section 10 (10D) of the Income Tax Act, 1961, for proceeds from maturity and death benefits. All rights reserved. If death from suicide occurs within one year of revival, the nominee is entitled to 80% of the premiums paid till date or the surrender value at that point, whichever is higher. Insurance is the subject matter of solicitation. 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. With this plan, the policyholder may enjoy life with two lump sum payouts. 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. Policyholders and nominee (if the policyholder is not alive) are granted an additional lump sum payout when the policyholder attains the age of 100. Policyholder can make nominations as per section 39 of the Insurance Act, 1938. Limited premiums are payable under the plan after which the plan pays you a lump sum benefit. IRDAI Registration No. 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. Guaranteed additions and bonuses enhance the corpus while you get another benefit on plan maturity. Policyholder enrolled with the IDBI Federal Lifesurance Whole Life Savings are liable to tax benefits under the Income Tax Act of 1961. Corporate Identity Number (CIN) – U66010MH2007PLC167164. It offers a wide variety of life cover, retirement options, and capital management solutions to both individuals and corporate clients. Under the transaction, IDBI … Policyholders are granted a free-look period of 15 days from the commencement of the policy. The nominee is entitled to an additional sum equal to the guaranteed sum assured if the policyholder opts for the accidental death benefit. Official Mobile Application from “IDBI Federal Life Insurance Company Limited”. Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. 2) IDBI Federal Honored with a ‘Special Recognition – Sports Development Initiatives for Youth’ under the Social Development category. Registered Address: IDBI Federal Life Insurance Co Ltd, 22nd Floor, A Wing, Marathon Futurex, N. M. Joshi Marg, Lower Parel (East),Mumbai 400013, India. If he/she disagrees with any of the terms and conditions of the policy, they can return the policy. 55 years (if maximum age without accidental death benefit cover is 75). Kolkata: IDBI Federal Life Insurance Company has now been rebranded as Ageas Federal Life Insurance Company with Ageas Insurance International raising its stake to 49% in it from 26%. 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 is a joint venture of IDBI, India’s premier development and commercial bank and Federal Bank, one of India’s leading private sector banks and Ageas, a multinational insurance … Customers can also pay online using their credit cards, debit cards, e-wallets, etc. With this transaction, the stake of the Belgian partner in IDBI Federal Life Insurance Co Ltd (IFLI) has risen to 49 per cent, the upper foreign direct investment limit prescribed by the law. Insurance is the … The nominee will receive all the benefits following the untimely death of the policyholder. Product information is authentic and solely based on the information received from the Insurer© Copyright 2008-2021 policybazaar.com. Visitor's information submitted on the website may be shared with the Insurers. IDBI Federal Life Insurance is a joint venture between IDBI Bank, Federal Bank and Ageas, a multinational insurance giant based in Europe. IRDAI/WBA21/15 Valid till 13/07/2021. 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. In the case of suicide, whether sane or insane, the nominee is entitled to 80% of the benefits paid till that point. IDBI Bank is likely to sell 23 per cent stakes in IDBI Federal Life Insurance Co to Belgian multinational insurer Ageas Insurance International. IDBI Bank has completed stake sale of 23% of joint venture IDBI Federal Life Insurance Company to Ageas Insurance International NV. Corporate Identity Number (CIN) – U66010MH2007PLC167164. The product information for comparison displayed on this website is of the insurers with whom our company has an agreement. 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). Registered Address: IDBI Federal Life Insurance Co Ltd, 22nd Floor, A Wing, Marathon Futurex, N. M. Joshi Marg, Lower Parel (East),Mumbai 400013, India. Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim. Policyholders are granted a grace period of 30 days to pay the due premiums. 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. 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. Policyholders are granted a discount in premiums if the sum assured is north of Rs.10 lakh. We thank you for being a valued customer", IDBI Federal Lifesurance Whole Life Savings Insurance Plan, Reduce taxable income by up to Rs. **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. Product information is solely based on the information received from the Insurers. 135, 19th Dec, 07. 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 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. No.103, Federal Towers, Aluva, Ernakulam, Kerala -683101. 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. This plan also comes with additional bonuses and coverage in case of accidental death or disability. 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. © Copyright 2020 bankbazaarinsurance.com. Any information displayed here is only for informational purposes and bankbazaarInsurance.com does not endorse the same. Once the policy attains the surrender value, policyholder can take a loan amount against the policy up to 85% of the surrender value. We are showing some of the features of this plan below. The IDBI Federal Life Insurance Company has been renamed as Ageas Federal Life Insurance Company after Belgian multinational insurer Ageas Insurance International (Ageas) bought 23 percent holding representing 18,40,00,000 share for a consideration of Rs 507.10 crore. Section 80C of the Income Tax Act, 1961, for contributions (premiums) made towards the scheme. The key features of the IDBI Federal Lifesurance Whole Life Savings Insurance Plan are listed below. Insurance is the … 24,999,999,500 and its paid up capital is Rs. Insurance is the subject matter of solicitation.Visitors are hereby informed that their information submitted on the website may be shared with insurers. Federal Bank is a Corporate Agent of IDBI Federal Life insurance Company Limited having its registration number (Regn. Idbi Federal Life Insurance Company Limited is a Public incorporated on 22 January 2007. They can also make premium calculations. 5) Top 10 Trusted Life Insurance … With this transaction, the stake of the Belgian partner in IDBI Federal Life Insurance Co Ltd (IFLI) has risen to 49 per cent, the upper foreign direct investment limit prescribed by the law. Once the surrender value is paid to the policyholder, the policy is terminated. Policyholders can choose the premium or contribution towards the. Minimum: Rs.10,000 per year for annual, half-yearly, quarterly modes Medical examination may be required in some cases, based on the sum assured and the age of the person. Policyholder can revive the policy within two years of the first unpaid premium if he/she pays the outstanding premiums and the interest accrued, all the benefits of the policy will be applicable. Their policy related information on their fingertips section 39 of the policyholder and the age of Income... 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