IDBI Federal Termsurance Increasing Cover

IDBI Federal Life Termsurance Increasing Cover Plan 

IDBI Federal Termsurance – Increasing Cover is a term plan where the sum assured keeps increasing by a certain percentage every year to keep up the pace of the growing liabilities of the policyholder. In this policy, if the life insured dies within the policy tenure, then the nominee would receive the sum assured as Death Benefit which corresponds to the value on the year of death. If the policyholder survives till the end of the term, then there is no Maturity Benefit provided.

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Maturity Benefit
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Death Benefit
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Woman discount
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Key Features

It is a Term Insurance Policy with Death Benefit only and no Maturity Benefit
The sum assured keeps increasing by 10% each year and the year the life insured dies, the nominee would receive the corresponding increased death benefit
Option to pay for only 3 to 5 years as well and single payment option
Woman discount and large sum assured discount is available.


Death Benefit

In case of death of the policy holder, the nominee gets the increased sum assured under the plan at the year of death. The sum assured keeps rising by 10% of the base sum assured each year.

Maturity Benefit

There are no maturity benefits under this plan.

Income Tax Benefit

Life Insurance premiums paid up to Rs.1,50,000 are allowed as a deduction from the taxable income each year under section 80C


No riders are available in this policy


  Minimum Maximum
Sum Assured (in Rs.) 5,00,000 No Limit
Policy Term (in years) 10 30
Premium Payment Term (in years) Single Equal to policy term
Entry Age of Policyholder 18 65
Age at Maturity - 75
Single premium Not Specified Not Specified
Payment modes Single,  Yearly, Half-Yearly, Quarterly and Monthly


angle down iconWhat happen if you stop paying the premium ?

The policy would lapse if the premiums are not paid within the grace period and all benefits would also stop. However, there is an option to revive the policy within 2 years from the date of first unpaid premium.

angle down iconWhat happen if you want to surrender the policy ?

Option to surrender is available after 3 years only in single, 3-pay and 5-pay options only and there is no guarantee of the surrender value.

angle down iconWhat happen if you want a loan against your policy ?

Loan facility is not available under this policy.