IDBI Federal Life Term Insurance Plans

IDBI Federal 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 which are designed to provide full protection & financial stability to your family. There are 8 types IDBI Federal term plans that provide you financial stability.

• Termsurance Protection Plan: A comprehensive term insurance plan that provides you with 3 options namely level cover, increasing cover and level cover with return of premium. It not only allows you to customize your plan as per your needs, it also comes with a host of benefits like flexible premium payment terms, choice of policy term and lots more flexible options.

• Termsurance Grameen Bachat Yojana: A low cost protection plan that targets the rural market.

• Termsurance Grameen Suraksha Yojana: A microinsurance term plan that is aimed at providing insurance protection to the poor.

• Loansurance: A term plan which ensures that the outstanding debt is settled in the unfortunate event of death of the insured member. This term assurance plan provides cover to a person directly liable for loan repayment.

• Homesurance Plan: a mortgage reducing term assurance plan.

• Homesurance Protection Plan:  is a mortgage reducing term assurance plan - MRTA, which provides insurance cover equal to the outstanding balance of your home loan.

• IDBI Federal Termsurance® Premier Insurance Plan: a term insurance plan that gives you the power and flexibility to take complete charge of the financial future of your loved ones.

• Termsurance® Seniors Insurance Plan: A term insurance plan that is designed to offer people over the age of 50, a whole life cover with guaranteed acceptance.

Comparison of IDBI Federal premium for term insurance and IDBI Federal quotes will help you to understandevery term plan provided by IDBI Federal Life insurance company.

IDBI Federal Life Term Insurance Plans - FAQs

1. 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.

2. How can I check policy status for IDBI Federal Life term insurance plans?

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.

3. What is the policy renewal process for IDBI Federal Life term insurance plans?

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.

4. What is the company’s process to settle claim for IDBI Federal Life term insurance plans?

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.

5. What is the policy cancellation process for IDBI Federal Life term insurance plans?

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.