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IDBI Federal Termsurance Increasing Cover

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This plan has been withdrawn by the insurance company and is no longer available for sale.

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.


Key Features of Termsurance Increasing Cover

  • 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.


    Benefits you get from Termsurance Increasing Cover

    • 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


    Eligibility conditions and other restrictions in Termsurance Increasing Cover




    Sum Assured (in Rs.)


    No Limit

    Policy Term (in years)



    Premium Payment Term (in years)


    Equal to policy term

    Entry Age of Policyholder



    Age at Maturity



    Single premium

    Not Specified

    Not Specified

    Payment modes

    Single,  Yearly, Half-Yearly, Quarterly and Monthly




    Sample illustration of premium amount in Termsurance-Increasing Cover

    The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 10 lakhs and Policy Term = 25 years.

    In this case, the base sum assured is Rs 10 lakhs, which increases to Rs 20 lakhs in 10 years, to Rs 30 lakhs in 20 years and Rs 35 lakhs in 25 years tenure.IDBI Federal Termsurance Increasing Cover Sample premium rates


    Additional Features and Benefits of Termsurance Increasing Cover 

    Riders – No riders are available in this policy


    What happens 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.
    • 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.
    • You want a loan against your policy – Loan facility is not available under this policy.



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