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IDBI Federal has launched online Term Plan

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.

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Last Updated - May 15, 2023
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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:-

Particulars

Minimum

Maximum

Entry Age (in years)

18

50

Sum Assured (in Rs.)

50 lacs

30 crore

Policy Term (in years)

10

25

Accidental Death Benefit Rider

2 crore

Premium Payment Term (in years)

Equal to policy term

Premium Payment Frequency

Annual

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.

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