IDBI Federal Life Insurance

Claim Settlement Ratio - 95.79%*
*Data according to IRDA Annual Report (2018-19)
  • Tax Benefit

    Upto Rs. 75000

  • Life Cover Till Age

    99 Years

  • 8 Lakh+

    Happy Customers

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

*Please note that the quotes shown will be from our partners

IDBI Federal Life Insurance is one of India’s growing life insurance companies and offers a wide range of protection, retirement, and capital management solutions to individual and corporate customers.

The Company is a joint venture of IDBI Bank, India’s premier industrial development bank, Federal Bank, a major Indian commercial bank and Ageas, a multinational insurance giant based out of Europe. In this venture, IDBI Bank owns 48% equity while Federal Bank and Ageas own 26% equity each.

Commenced it operations in 2008, IDBI Federal was able to achieve breakeven within just 5 years, thanks to the vast nationwide network of 2137 partner bank branches of IDBI Bank and Federal Bank. Mr. Mahesh Keni is the CEO of IDBI Federal Life Insurance Company Ltd.

IBDI Federal was recognized as the ‘Best Insurance Company in the Private Sector’ for the year 2013 -2014 at the Lokmat Banking, Financial Services & Insurance Awards.

In 2009, the company received the PMAA Awards for best Dealer/Sales force Activity, conferred with the status of ‘Master Brand 2012-13’ by the CMO Council USA and CMO Asia and EFFIE Award for effective advertising in 2011.

Product Portfolio

IDBI Federal Term Plans:

These term insurance plans help you plan for financial protection for your family in case of an unfortunate event. These are cheapest form of life insurance plans.

  • IDBI Federal Termsurance® Group Insurance Plan
  • IDBI Federal Termsurance® Sampoorn Suraksha Micro-insurance Plan

IDBI Federal ULIP Plans:

These are wealth plans with life insurance benefits which ensure that your wealth-building efforts remain unaffected in unforeseen events and your financial goals can still be achieved.

  • IDBI Federal Wealthsurance® Growth Insurance Plan Single Premium 

IDBI Federal Investment Plans:

These are low risk investment plans which provide you a guaranteed amount on maturity and help you plan for your life’s goals

  • Incomesurance™ Guaranteed Money Back Insurance Plan (UIN No. 135N031V01)
  • IDBI Federal Lifesurance® Savings Insurance Plan (UIN: 135N029V01)
  • IDBI Federal Lifesurance® Whole Life Savings Insurance Plan (UIN 135N035V01)
  • IDBI Federal Wealthsurance® Growth Insurance Plan (UIN:135L036V01)
  • Wealthsurance® Suvidha Growth Insurance Plan

IDBI Federal Child Plans:

  • IDBI Federal Wealthsurance® Future Star Insurance Plan
  • Childsurance® Savings Protection Insurance Plan

IDBI Federal Pension Plans:

  • IDBI Federal Retiresurance® Group Insurance Plan

Compare all IDBI Federal life insurance plans from other life insurance companies in India to get the best insurance plan that suits you most.

IDBI Federal Life Insurance Distribution Network:

IDBI Federal Life Insurance Company offers its services through a vast nationwide network across the branches of IDBI Bank and Federal Bank in addition to a sizeable network of advisors and partners.

IDBI Federal Life Insurance - FAQs

  • How to pay premium? What are the modes of payment available?

    You can choose from ANY of the following premium modes from IDBI Life Insurance
    • Online Payment
    • Payment through IDBI & Federal Bank Branch
    • ECS
    • Payment through Advisor
    • Cheque facility

    For payment through online, policyholder must visit e-portal of company.

    • Enter your policy number and date of Birth
    • Then verify your policy details
    • Select payment options and pay payment.
  • How can I check policy status?

    As a registered user, please visit the site

    and provide the relevant policy information to enter the site and check the current status of your policy.

    You can track you application from the above link in case you have recently applied.

  • What is the policy renewal process?

    As an existing IDBI customer, you can convert all your paper policies into e-Policy to conveniently pay online premiums for renewals. You can fill the e-Policy Conversion Form and submit it to your nearest IDBI Federal branch. Once done, the renewal process remains the same as paying premium online.
  • What is the company’s process to settle claim?

    IDBI Federal Insurance company guarantees to settle your claims within 8 working days, provided all your documents are in order. For every delay thereafter, the company will pay a penalty charge of 8% to the beneficiary.

    The process is simple. Fill the suitable claims form and submit the medical bills and reports and other documents as requested by the company to the nearest branch. The claim amount will be directly deposited in your bank account.

  • What is the policy cancellation process?

    It will take maximum 30 days for policy cancellation process. The IDBI policyholders must attach all the relevant policy documents along with a duly filled surrender form at any of the branch locations in their city. After receiving the documents and scrutinizing them, the refund is credited into the policyholder’s bank account as per the policy’s records, and the policy is cancelled.

IDBI Federal Life Insurance - Latest News

  • IDBI Federal to Operate from Mumbai soon; Buys New Office Space at Lower Parel

    IDBI Federal Life Insurance has bought new office space worth over Rs. 111 Crore in Mumbai. The space of 62, 000 sq ft comprises two floors (22nd and 23rd) of the building that has 26 floors in total, located at Marathon Futurex Complex (nearby Lower Parel). The company has successfully made it to the deal, which was under process since last week. It can easily accommodate a sum of 450 employees. The operations will soon begin from the brand new office in Mumbai, which the company has already acquired in line with the growth strategy being implemented. The deal price stands at Rs. 18, 000 per sq ft, which remains within the current property rates for all immediate transactions. The current rates of property in the particular region of Lower Parel, Mumbai are ranging from Rs. 18, 000 to Rs. 20, 000, including all commercial facilities and profiles in the region.
Written By: PolicyBazaar - Updated: 18 June 2020
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 30 Reviews)
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IDBI Federal Life Insurance Reviews & Ratings
3.8 / 5 (Based on 30 Reviews)
(Showing Newest 15 reviews)
Amit
Ampati, March 19, 2019
Partial withdrawals benefit
I Thanks to IDBI Fedral for providing interesting ULIP Plans. As I can avail partial withdrawals benefit after completing 5 yr. of policy.
Ishita
Pilani, August 25, 2016
ULIP Plan
Recently buy a ulip insurance policy from idbi federal insurance in low investment. Policy cover maximum expenditure of all the cases and scenarios. Claims are high and simple to clear. Good future investment and it reduces my taxes too.
Tarun
Kanpur, August 25, 2016
Traditional Policy
The traditional plan of idbi federal insurance is great with big benefits. Policy coverage is good approx. 89% and claims are high. Service facilitate by the staff members is fantastic with good behaviour. Updates are mailed regularly to me and online portal makes easy renewals of the insurance policy.
Naman
Indore, August 25, 2016
IDBI Insurance Policy
I have purchase term insurance policy from idbi federal insurance. Service is fast and behaviour of the company members towards customer is very nice. Policy coverage and claims are high. Claiming become more easy due to quick service given by the executives.
Saurabh
Gudari, July 11, 2016
Pension Policy
My pension plan is superb and it come in low investment. The policy coverage is high and claims are even better which can be sanctioned by staff members. Service is nice and the online portal service given by the company is easy to operate.
Lalit
Aligarh, June 29, 2016
Good Plan
I buy pension plan and the premium is low but the paybacks are huge. The policy coverage is high and claims are good. Service is nice provided by the company member's. Good future security and it cover's many cases. Online service is also good with easy interface. Accidental death benefits for the policyholder and the family.
Dinesh
Mathura, June 23, 2016
Not Satisfactory
The insurance policy I have is not as I expected. The premium is high and returns are not. Service is bit slow and policy coverage is less around 67%. Claims are low and not easy to clear the claims. Please improve the insurance policy. And, yes online services too.
Saahir
Jaipur, June 23, 2016
Better Plan
My son buy me a pension plan which is really nice, I know this after I read the policy documents. The premium is low and returns is much. Service facilitate by the company members is fantastic. Good future investment, I like the insurance plan. Daily updates are mailed which makes easy upgradations in the policy.
Akash
Gwalior, June 23, 2016
Satisfactory
Super policy from idbi federal life insurance. The service is supersonic fast and the premium is low. The behaviour of the members and staff of the company is very nice. Good future investment which save taxes too. Policy coverage is high and claims are easily cleared due to fat service.
Eshani
Dwarakanagar, June 23, 2016
Coverage Is Good
Having great deal and awesome pension plan which facilitate me best service. The updates are send or texted to me. Internet service is good and easy to access. Claims are good and easily cleared due fast service. Premium is low and policy coverage is high.
Ratika
Mysore, June 23, 2016
Fair Insurance Policy
The pension plan provide's me many advantages like it has a accidental death benefits. The policy cover's more conditions and premium is low. Claims are high and easily sanctioned due to fast service provided by the executives. Finally tension free for the future.
Tanishk
Chaksu, June 23, 2016
Manageable Plan
My pension plan is the best future security and my decision I make for secure future and safe life. Policy provides many benefits like low premiums and paybacks are high. Policy coverage is high and claims are better. Service is bit slow but it will be manageable. The documentation is hassle free and easy interface of the online services.
Yajan
Mumbai, June 23, 2016
Average
I own pension plan from idbi federal insurance for my parents. The policy coverage is high approx. 90% and many more benefits. Service from your side is fabulous and cooperation of the staff members is very nice. Updates are send time to time to me about insurance policy. Good investment and secure future.
Uttam
Bangalore, June 23, 2016
Nice Policy
Finally got the pension plan for my grandfather in very low investment and even the premiums are also low. The policy covers many cases like medical emergencies and of course it return a good amount per month after policy get mature. Service is great and good investment for future. I like it.
Ishant
Ahmedabad, June 23, 2016
Good
I purchase idbi federal pension plan in very low premium. The service is fast and on time. Good policy coverage and its claims are really attractive. The behaviour of the executives and staff of the company is very nice and calm nature. Good future investment which reduces taxes too. Updates are also mailed to me regularly.
Jyotsna
Calicut, June 23, 2016
Beneficial Policy
Can't find a particular insurance what I want but my friend advice work' perfectly. I purchase idbi federal child insurance plan which is very beneficial in future for my child. The premium is low and claims are high. Policy coverage is good. Service is fantastic which provided by the company members. Good policy good work.
Harshita
Kurukshetra, June 23, 2016
Trustworthy
I got very interesting policy in very low investment. The policy coverage is high and claims is best. Service is awesome, even the internet service is easy to operate and easily accessible by all. The behaviour of the staff members of the company is very nice and calm. Good child insurance plan for my child.
Gunjan
Kolkata, June 23, 2016
Great Insurance
Bought child insurance plan in very low premium. Policy coverage is high and claims are easy to sanction due to quick service provided by the members of the insurance company. The updates regarding insurance policy is mailed to my email address or text message to my cellphone.
Firoz
Gautam_buddha_nagar, June 23, 2016
Manageable Plan
The idbi federal child insurance plan is one of the best insurance. Service provided is remarkable. Policy coverage and claims are high and premium is low. Good policy terms and conditions and those are very reliable too. Good future security for the child and it reduces taxes too.
Divanshu
Howrah, June 23, 2016
Good Service
I buy child insurance plan for my only child in low premiums. Th policy is awesome with huge benefits like good policy coverage ~87%, Claims are high. Service facilitate by the executives and staff members is good and on time till date. Good future investment for my child. I like the insurance plan.
Saurabh
Bangalore, June 22, 2016
Future Security
My father gave me child insurance policy which he buy in my childhood. Now the policy is fulfilling my fee of further studies. Great insurance policy, the policy coverage is high and claims are unimaginable. Service is awesome and 24X7 working for customers. Easily sanctioned claims. I like the policy plan, thanks dad for this great gift.
ABHINAV
Hyderabad, June 22, 2016
Damn Good
Finally got the policy which I was searching for my child. The benefits and paybacks are huge. Policy coverage is high and claims are even better. Service is very quick which is given by the staff members and department of the company. Fantastic investment for my child's future, I like the policy.
Zakhir
Kolkata, June 22, 2016
Nice Insurance
The child insurance plan is very nice which facilitate many benefits like low premiums, policy coverage is high ~88%, service is good which makes easy sanctioning the claims. The behaviour of the executives and staff members is nice with calm nature. Good insurance plan.
Chitrangata
Ahmednagar, June 22, 2016
Average Plan
I purchase child insurance plan from idbi federal life insurance. The policy coverage is good and premium is low. Service provided by the executives and the staff is fast and on time. The claiming become easy due to fast service. Good future investment which make reduction in the taxes.
Nilesh
Jalandhar, May 13, 2016
Fantastic Plan
I have a great policy i.e., IDBI federal life ulip plan. The policy coverage is high approx. 87% and the premium is low. The claims are great and easily sanctioned because the service is fast facilitate by the executives. Good future investment with many inbuilt benefits.