IDBI Federal Life Pension Plans

So now, you have retired! Does it feel like the end of the road or a new beginning? Whatever be your perspective on life, do not let financial constraints mar your leisure years. Get smart with IDBI Federal Pension Plans! These plans are effective instruments that help you to get desirable objectives. The extreme flexibility of the pension plans offers different choices and you can choose in accordance with your saving habits.

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

IDBI Federal Retiresurance Pension Plans

IDBI Federal Retiresurance Pension Plan not only gives you fantastic saving scheme for post retirement but also lets you multiply and grow your wealth with myriad tailor-made investment options. The range of entry age is between 18-70 years and the minimum and the maximum policy term are 5 and 75 years respectively. There are numerous benefits associated with this plan. First is the death benefit. In the event of the death of the policyholder, the nominee can opt for fund value held in different funds. Option for a one-time payment or regular premiums is available. For a one time payment, the minimum amount is INR 25,000 with no upper limits.

Then there are loyalty additions that boost retirement savings and benefits for partial withdrawal along with vesting and surrender benefits. Tax deductions are available for this plan under Section 80CCC.

IDBI Federal Unit-linked Pension Plans

IDBI Federal Unit-linked Pension Plans facilitates wealth building through choice of various investment options. This is a plan involves payment of a single premium and on maturity, get a part of the total amounts as a lump sum and remaining as an annuity investment for regular income post retirement. As an alternative customer can purchase an annuity with the entire maturity benefit of getting payments on a regular basis throughout the rest of their lives.

Save substantially for your golden years and live a happy, carefree retirement life with IDBI Federal Pension Plans.

You may also like to read: PV Annuity Formula| Different Types of Annuities

IDBI Federal Life Pension Plans - FAQs

  • Q1. How to pay premium? What are the modes of payment available?

    Ans: 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.

  • Q2. How can I check policy status for IDBI Federal Life pension plans?

    Ans: 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.

  • Q3. What is the policy renewal process for IDBI Federal Life pension plans?

    Ans: 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.

  • Q4. What is the company’s process to settle claim for IDBI Federal Life pension plans?

    Ans: 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.

    You can also check National Pension Scheme Benefits

  • Q5. What is the policy cancellation process for IDBI Federal Life pension plans?

    Ans: 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.
Written By: PolicyBazaar - Updated: 12 January 2021
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IDBI Federal Life Pension Plans Reviews & Ratings

3.5 / 5 (Based on 12 Reviews)
(Showing Newest 12 reviews)
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.
Omesh
Ludhiana, May 13, 2016
★★★★★
Perfect Plan
IDBI federal life pension plan is one of the best plan in the market. The policy coverage is high ~89% and the claims are high too. The service is fast and the behaviour of the staff members and the executives is very nice. Good future investment, I like my plan.
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