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IDBI Federal Termsurance Level Cover

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This plan has been withdrawn by the insurance company and is no longer available for sale.

IDBI Federal Termsurance Level Cover

IDBI Termsurance is a vanilla level cover term insurance plan with the basic benefits of term insurance where the nominee would get the sum assured if the life insured dies within the policy tenure and nothing would be payable if he survives. There is uniform cover throughout the policy term.


Key Features of Termsurance Level Cover

  • It is a pure Term Insurance Policy with Death Benefit only and no Maturity Benefit
  • Low premium for high coverage
  • 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 Level Cover

Death Benefit – In case of death of the policy holder, the nominee gets the sum assured under the plan

Maturity Benefit – There are no maturity benefits under this plan.

Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C


Eligibility conditions and other restrictions in Termsurance Level 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 Level 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


Additional Features and Benefits of Termsurance-Level Cover 

Riders – No riders are available in this policy


What happens if?

You stop paying the premium - If the policy holder stops paying the premium, then all benefits of the policy will cease after the expiry of the grace period from the due date of the first unpaid premium. You can re-instate the policy within 2 years of lapsation by paying up all due premiums with interest.


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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