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IDBI Federal Healthsurance Plan

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This plan has been withdrawn by the insurance company and is no longer available for sale.

IDBI Federal Healthsurance Plan

IDBI Federal Healthsurance Plan is a comprehensive Health Plan. It is a Traditional Plan without Bonus facility.
 
How it works – In this plan, premium needs to be paid every year for the policy to be in-force. This is a basic Hospitalization Cash Benefit where the chosen Hospitalization Benefit Cash would be payable for hospitalization more than 24 hours and in case of ICU Admission, an Additional amount is payable from Day 2 onwards and that too without original bills.
 
This plan pays for Surgical Benefit of 50 or 100 times the Daily Hospitalization Cash Benefit, depending upon the severity of the surgery. If the Surgery is listed in Surgical Procedures Group A, then 100 times the Daily Hospitalization Cash Benefit is paid in lumpsum and if the Surgery is listed in Surgical Procedures Group B, then 50 times the Daily Hospitalization Cash Benefit is paid as Surgical Benefit and the policy continues. There is an additional benefit in this plan, where 3 times the Daily Hospitalization Cash Benefit is paid if the hospital stay is more than 7 consecutive days.
 
The Total Benefits payable under this plan inclusive of all benefits put together is 500 times the Daily Hospitalization Cash Benefit in 1 policy year and upto 2000 times the Daily Hospitalization Cash Benefit during the entire lifetime of the plan.
 
Being a Pure Protection Health Insurance Plan, there are no Maturity or Surrender Benefits in this plan and no Loan facility available.
 

Key Features of IDBI Federal Healthsurance Policy

  • It is a comprehensive health insurance plan with necessary benefits
  • This plan pays for Daily Hospitalization Cash Benefit without original bills
  • Daily Hospitalization Cash Benefit would be paid for each day of hospitalization beyond 24 hours
  • Daily Hospitalization Cash Benefit can be opted for Rs 500, Rs 1000, Rs 1500 and Rs 2000. It can also be taken for Rs 3000 and Rs 4000 by providing income proof
  • In case of ICU Admission, an Additional amount is payable from Day 2 onwards
  • This plan pays for Surgical Benefit of 50 or 100 times the Daily Hospitalization Cash Benefit, depending upon the severity of the surgery
  • 3 times the Daily Hospitalization Cash Benefit is paid if the hospital stay is more than 7 consecutive days
  • The total benefits under this plan is the Daily Hospitalization Cash Benefit can be claimed upto 500 times in 1 policy year and upto 2000 times during the entire lifetime of the plan
 

Benefits you get from IDBI Federal Healthsurance Policy

Death Benefit – Being a pure Health Benefit Plan, there is no Death Benefit in this plan.
 
Health Benefit—There are a multiple Health and Hospitalization Benefits available in this plan
  • Daily Hospitalization Cash Benefit as chosen for each day of Hospitalization beyond 24 hours
  • Additional Cash Benefit for admission in ICU from Day 2 onwards
  • Convalescence Benefit for long stay in hospital for more than 7 days
  • Surgical Benefits of 50 times or 100 times the Daily Hospitalization Cash Benefit, depending upon the severity of the surgery as listed in the Surgical procedures
 
Maturity Benefit – Being a yearly renewable plan, there is no Maturity Benefit in this plan.
 
Income Tax Benefit - Life Insurance premiums paid up to Rs. 15,000 are allowed as a deduction from the taxable income each year under section 80D.
 
 

Eligibility conditions and other restrictions in IDBI Federal Healthsurance Policy

 
Minimum
Maximum
Policy Term (in years)
1
Premium Payment Term (in years)
Each Year
Entry Age of Life Insured (in years)
18
55
Age at Maturity (in years)
-
65
Daily Hospitalization Cash Benefit (in Rs.)
500, 1000, 1500, 2000, 3000
4000
Surgical Benefit  
50 times the DHCB* for Grade B Surgery
100 times the DHCB* for Grade A Surgery
Total Benefit
-
500 times DHCB* per year
2000 times DHCB* in Lifetime
Payment modes
Annual
 
*DHCB- Daily Hospitalization Cash Benefit
 
 

Sample illustration of premium of IDBI Federal Healthsurance Plan

The below illustration is for a healthy male of age 30, 35 and 40 years respectively opting for a Daily Hospitalization Cash Benefit of Rs 2000 and Rs 4000

Sample Premiums in IDBI Federal Healthsurance Plan

**DHCB is Daily Hospitalization Cash Benefit.
 
 

Additional Features and Benefits of IDBI Federal Healthsurance Plan

Riders – There are no additional riders in this plan.
 
 
 

What happens if? 

You stop paying the premium - If the policy holder stops paying the premium, the policy lapses and all benefits cease.
 
You want to surrender the policy – There are no Surrender Benefits in this plan
 
You want a loan against your policy – Loan facility is not available in this plan



 
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