IDBI Federal My Life protection plan

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IDBI Federal My Life Protection Plan

Introducing IDBI Federal My Life Protection Plan, a non-linked, non-participating, individual life, pure risk premium product which enables you to help your loved ones dream big and ensure to protect it.

 

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  • Key Features
  • Eligibility
  • Downloads
  • Extensive life cover for a relatively small premium. 
  • Flexibility to choose policy term and premium payment term. 
  • Option to pay premium just once or for a limited period or throughout the policy term. 
  • Three life cover options to suit individual needs. 
  • Option to enhance protection with Accidental Death Benefit.
  • Discounted premium rates for females, marathon runners and non-tobacco users.
  • Tax benefits may be available on premiums paid and benefits received as per prevailing tax laws. 

Age at Entry

(as on last birthday)

Minimum

21 years (For all cover options)

For Accidental Death Benefit

21 years

Maximum

For Regular Coverage and Coverage Booster:

65 years;

For Smart Coverage

Single Pay - 55 years

Limited Pay - 60 years minus Premium Paying Term

For Accidental Death Benefit

60 years

Age at Maturity

(as on last birthday)

Minimum

For Regular Coverage and Coverage Booster:

31 years;

For Smart Coverage:

65 years;

For Accidental Death Benefit:

31 years;

Maximum

85 years for all life cover options

 

For Accidental Death Benefit:

75 years.

Premium Payment Mode

 

Yearly and monthly

Basic Sum Assured

Minimum

Rs.50,00,000

Note$: Sum Assured (SA) will be in multiples of Rs.5lakhs till Rs.1crore, post which it will be in multiples of Rs.25lakhs.

Maximum

No limits$

       

Regular Coverage and Coverage Booster

Smart Coverage

Policy Term (PT) / Premium Payment Term (PPT) combinations:

 
       

PT (years)

Minimum

Regular Pay

10

NA

Limited Pay

65 - Age at Entry

Single Pay

Maximum

Regular Pay

85 - Age at Entry

NA

Limited Pay

85 - Age at Entry

Single Pay

PPT (years)

Minimum

Regular Pay

10

NA

Limited Pay^

7

Single Pay

Single Pay

Maximum

Regular Pay

85 - Age at Entry

NA

Limited Pay^

25

Single Pay

Single Pay

^Limited Pay options are 7, 10, 15, 20 & 25 Years

PT for ADB

 

Min

10 years

Max

Minimum of (Policy term of Base plan, 75 – Age at Entry)

PPT for ADB

 

Minimum of (Premium Paying term of Base plan, 75 – Age at Entry)

$ Subject to Board approved underwriting policy

To download the brochure, please click the link below.

Download Brochure