IDBI Federal Wealthsurance Future Star Insurance Plan is a Unit Linked child plan developed for the benefit of the child’s future. Under the plan, the policyholder can build a strong fund to take care of his child’s future requirements
|
Minimum |
Maximum |
Entry Age (Last Birthday) |
18 years |
54 years |
Maturity Age (Last Birthday) |
28 years |
64 years |
Policy Term (PT) in years |
10 |
25 |
Premium Paying Term (PPT) in years |
5 |
Up to policy term |
Premium Paying Frequency |
Yearly |
|
Yearly Premium |
25,000 |
95,000 |
Sum Assured |
Higher of 10*annual premium or 0.5*term*annual premium for ages <45 yrs. Higher of 7*annual premium or 0.25*term*annual premium for ages>=45 yrs. |
PPT*2*annual premium up to a maximum of 15*annual premium for ages<54 yrs. 10/7*annual premium for ages >54 yrs. |
Illustration for a policy term of 10 years and PPT 10 years
Age |
30 years |
40 years |
50 years |
Premium |
30,000 |
30,000 |
30,000 |
Sum Assured |
300,000 |
300,000 |
300,000 |
Fund Value @ 4% |
324,984 |
316,739 |
290,671 |
Fund Value @ 8% |
404,446 |
394,583 |
362,733 |
Loyalty Additions @ 4% |
8328 |
8136 |
7498 |
Loyalty Additions @ 8% |
9987 |
9764 |
9007 |
Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.
You May like to Read: IDBI Federal Life Child Plans |