IDBI Federal Lifesurance Savings Insurance Plan is a traditional participating Endowment Assurance plan which provides long term savings and life insurance for a happy and planned future
|
|
Minimum |
Maximum |
|
Entry Age (Last Birthday) |
18 years |
55 years |
|
Maturity Age (Last Birthday) |
- |
75 years |
|
Policy Term (PT) in years |
10 |
25 |
|
Premium Paying Term (PPT) in years |
5 |
25 |
|
Premium Paying Frequency |
Annual, half-yearly, quarterly, monthly |
|
|
Yearly Premium |
10,000 |
No limit |
|
Sum Assured |
Depends on the premium chosen, age and term |
|
Annual premium in Rupees for a Sum Assured of 5 lakhs
|
Age |
Policy Term / PPT |
Annual Premium |
|
30 |
20 / 20 |
30,795 |
|
30 |
15 / 15 |
43,060 |
|
35 |
20 / 10 |
49,015 |
|
35 |
15 / 10 |
57,565 |
Grace Period: 15 days’ grace period is allowed for premium payment in monthly mode and 30 days in other modes. If policyholder fails to make payment within the grace period, the policy lapses
Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 2/3 full years’ premium has been paid. The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value.
GSV = GSV Factor * Basic premiums paid including the GSV of Guaranteed Additions and Bonuses
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.
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.
