IDBI Federal Wealthsurance Growth Insurance Plan

• 9 investment fund options
• 2 investment strategies to manage funds
• Option to manage investments as per risk appetite
• Life cover benefit
• Guaranteed Loyalty Additions for growth on savings
• Enjoy Partial Withdrawal
• Flexibility to customize the plan
• Avail tax benefits

This policy offers following 9 investment funds and you have the option to invest in any one or combination of fund options.

• Equity Growth Fund
• Midcap Fund
• Bond Fund
• Income Fund
• Liquid Fund
• Pure Fund
• Aggressive Asset Allocator Fund
• Moderate Asset Allocator Fund
• Cautious Asset Allocator Fund

The minimum amount of premium allocated to any investment fund should be at least 15% of the annual premium.

You have the option to choose from following two investment strategies that help manage your funds.

Do It Yourself: This investment strategy provides you the flexibility to invest among 9 available investment funds, as per your risk-return appetite. You can also opt for premium re-direction to redirect funds in revised proportion to the funds available.

Leave It To Us: Under this investment strategy, the company helps manage your investments by simply indicting your risk appetite. Three risk levels namely, Cautious, Moderate and Aggressive are available to choose from.

Death Benefit

In the event of death of the life assured while the policy is in-force, the higher of Sum Assured (less Partial Withdrawals#), Fund Value in the investment account, or 105% of the total premiums paid till the date of death is payable to the beneficiary (nominee/legal heir).

#Before age 60 years of the life insured, Sum Assured is reduced to the extent of Partial Withdrawals made during the last two years prior the date of death. Upon attaining 60 years of age, Sum Assured is reduced to the extent of all Partial Withdrawals made after attaining 58 years.

Maturity Benefit

On survival of the life insured till the end of the policy term, the Fund Value in your investment account is payable at maturity. You can receive this benefit as a lump sum or as periodic installments by using ‘Settlement Option’. Upon payment of maturity benefit, the plan is terminated.

Settlement Option

On maturity, you can opt to receive your money in installments over a maximum period of 5 years, after the date of maturity. No life cover is applicable during this settlement period. Partial Withdrawals and switching are not allowed during the Settlement Period.

In the event of death of the life assured during this period, the available fund value is payable.

Guaranteed Loyalty Additions

Guaranteed Loyalty Additions as 3% are credited to the policy at the end of the 10^th policy year and at the end of every 5 policy years, thereafter. It is a percentage of the average fund value over the last 36 months prior to the loyalty allocation date.

Switching

Unlimited switching is available among 9 fund options to suit your changing investment needs.

Premium Re-direction

Premium Re-direction facility is available to alter future premium allocation and it will apply to your subsequent premiums. The policyholder may instruct the company in writing to avail redirection of future premiums.

Partial Withdrawal

Partial Withdrawal is allowed from 6^th policy year onwards (in case of minor lives, life assured attains 18 years). The minimum partial withdrawal amount allowed is Rs 10,000. The total partial withdrawals in a policy year cannot exceed 20% of the fund value available at the beginning of that policy year. The fund value required after such withdrawal should not be less than one year’s regular annual premium.

Alter the Insurance Benefit

You have the option to increase or decrease the amount of insurance benefit. Any increase in insurance benefit is subject to the maximum sum assured requirements. Any decrease in insurance benefit is subject to minimum levels as required by the plan.

Bonus

This plan is not eligible for the bonuses.

Loan Benefit

No loan benefit can be availed under this plan.

Surrender Value

Upon surrendering the policy with-in the lock-in period of 5 years, the Fund Value less applicable discontinuance charges is credited to the ‘Discontinued Policy Fund’ and it is refunded upon completion of the lock-in period. A fund management charge of 0.50% per annum of the Discontinued Policy Fund is applicable. The proceeds after addition of interest subject to a minimum guaranteed interest rate of 4% per annum or as stipulated by IRDAI is payable after the end of the lock-in period.

Upon surrendering the policy after the lock-in period of 5 years, the Fund Value as on the date of surrender is payable immediately and the policy then terminates.

No rider can be opted under this plan.

Premium Allocation Charges: This charge is deducted from the premiums paid and the balance amount is then allocated to funds chosen. The premium allocation charge is 3.15% for 1^st policy year. No such charge is levied from 2^nd policy year onwards.

Policy Administration Charge: The Policy administration charge is 6.30%/3.15% per annum during 1^st to 5^th policy year/6^th policy year onwards, subject to a maximum of Rs 6000 per annum. This charge is deducted at the start of every month by cancelling appropriate units from the fund value.

Mortality Charges: Mortality charge is levied at Sum at Risk and it is applicable for providing you with the risk cover. Sum at Risk is higher of (Total Sum Assured or 105% of premiums paid) less Fund Value under the policy.

Fund Management Charges: Fund management charge levied is a percentage of the Fund Value. The Fund management charge is 1.35% p.a. for all the investment funds, 0.50% p.a for Discontinued Policy Fund.

Switching Charge: No switching charge is applicable.

Discontinuance Charge: This charge is levied, in case the policy is discontinued during the first 4 policy years. This charge is levied as applicable under the policy terms & conditions. For more details, please refer the policy brochure.

Taxes: The charges mentioned under this plan are subject to applicable tax and cess, as applicable.

Tax benefits can be availed under section 80C & 10 (10D) under the Income Tax Act, subject to change in tax laws.

Mr. Raman aged 35 years wants to accumulate a corpus amount, so his family can achieve their financial goals. He also wants to ensure financial cover for the family, when he is not around. He chooses to buy IDBI Federal Wealthsurance Growth Insurance Plan with the policy term of 20 years, premium payment term of 10 years, annual premium of Rs 1,00,000 and sum assured of Rs 10,00,000.

Scenario A- Maturity Benefit: In case of his survival till maturity of the policy, the Fund Value in your investment account is payable at maturity. Guaranteed Loyalty Additions are also added to the fund value payable at maturity.



Scenario B- Death Benefit: The higher of Sum Assured (less Partial Withdrawals), Fund Value in the investment account, or 105% of the total premiums paid till the date of death is payable to the beneficiary (nominee/legal heir). The death benefit payable is equal to fund value of Rs 14,40,851 @4% p.a and Rs 26,33,159 8% p.a.