IDBI Federal has launched iSurance Term Plan, it’s a non-linked, non-participating term plan. In case of demise of policyholder the beneficiary gets the lump sum amount as death benefit, the plan offers comprehensive sum assured up to 30 crores and policyholder can also attach Accidental Death Benefit Rider up to Rs. 2 crore, to boost the insurance cover.
iSurance Plan key benefits at a glance:-
Hassle-free online buying
Medicals at doorstep
Comprehensive cover – up to 30 crores
Special discounts for women
Premium discounts for insurance cover above 75 lacs
iSurance Plan Eligibility conditions:-
Entry Age (in years)
Sum Assured (in Rs.)
Policy Term (in years)
Accidental Death Benefit Rider
Premium Payment Term (in years)
Equal to policy term
Premium Payment Frequency
IDBI Federal has entered its foray into e-commerce with the launch of iSurance Term Plan. IDBI Federal Life Insurance Company is a joint venture between IDBI Bank Limited (48%), Federal Bank (26%) and Aeges (26%). The company was earlier called IDBI Fortis Life Insurance Company. In April 2010, Fortis the foreign partner changed its name to Aeges which has resulted in the name change in this joint venture too.