IDBI Federal Lifesurance® Savings Insurance Plan

Death Benefit

In case of pre-mature demise of the life insured, death sum insured plus vested guaranteed benefits plus vested reversionary bonuses plus interim bonus plus terminal bonus is payable. Death Sum Insured is higher of 105% of all the premiums paid, 10 times of annualized premium, or maturity sum insured. Accidental death benefit can also be opted on payment of nominal additional premium.

Maturity Benefit

At maturity of the policy, maturity sum insured plus vested reversionary bonuses plus vested guaranteed additions plus terminal bonus is payable.

Guaranteed Addition

Guaranteed additions are payable during the first five years @ Rs 50 per Rs 1,000 of maturity sum insured.

Bonus

Sixth policy year onwards, the company will declare reversionary bonuses and terminal bonus, which depends on future experience and performance of the fund.

Loan Benefit

Loan amount can be availed up to 85% of Special Surrender Value and the minimum loan amount is Rs 5,000.

Surrender Value

For premium paying term of less than 10 years, a guaranteed surrender value can be acquired on payment of all premiums for at least 2 consecutive years. For premium paying term of 10 years or more, payment of all due premiums for at least 3 consecutive years is required to get a guaranteed surrender value.

Tax Benefit

Premiums paid are eligible for tax benefits under section 80C and the maturity benefit & death benefit qualify can also avail tax benefits under section 10 (10D) of the Income Tax Act, 1961.

Accidental Death Benefit can be availed on payment of additional premium.

Age of Life Insured: 30 years

Policy Term Chosen: 25 years

Premium Payment Term: 15 years

Premium Amount: Rs 30,610 per annum

Please note: Some benefits mentioned above are guaranteed and some are variable depending on the future performance of the company. If the policy offers guaranteed returns, it will be marked as ‘guaranteed’. The above illustration is based on 4% & 8% investment rates of return and these are not guaranteed and are also not the upper or lower limits of the return.