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Wealthsurance Premier

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This plan has been withdrawn by the insurance company and is no longer available for sale.

                         

IDBI Federal Life Wealthsurance Premier Plan

Wealthsurance Premier is a single premium Unit Linked Insurance Plan which has various investment options for people with varied risk appetite. There are investment options for risk lovers to risk averse and hence everyone gets to choose from a variety of investment propositions. On death of life insured, the nominee gets higher of Sum Assured or Fund Value and on maturity the Fund Value is paid according to the investment option chosen. This plan can be enhanced by adding Health rider, Hospital Cash Benefit rider and Accidental Death and Disability rider benefits also.

 

Key Features of IDBI Federal Wealthsurance Premier

  • Wealthsurance Premier is a Single Premium ULIP where the nominee would get the higher of the Sum Assured and the Fund Value if the Life Insured dies within the policy tenure and the Fund Value on maturity
  • Variety of Investment Options
    • Assured Return Options with a choice of Monthly Guaranteed Interest or Guaranteed Returns
    • Dynamic Guaranteed Returns with exposure in the equity market along with capital protection
    • Market Fund Option where the fund can be managed by the policyholder with 7 Fund Options like Equity Growth Fund, Nifty Index Fund, Midcap Fund, Pure Fund, Bond Fund, Income Fund and Liquid fund and
    • Asset Allocator Option where the Fund managers would manage the fund to optimize returns. 


COMPARE THIS PLAN WITH OTHER ULIP PLANS

 

Benefits you get from IDBI Federal Wealthsurance Premier

 

Death Benefit – In case of death of the Life Insured, the nominee would get higher of Sum Assured and Fund Value

 

Maturity Benefit – On maturity, the Fund Value is paid to the policyholder according to the investment option chosen.

 

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 IDBI Federal Wealthsurance Premier

 

 

Minimum

Maximum

Sum Assured (in Rs.)

For age <=45 years, SA=1.25 X SP

For age >45 years, SA=1.1 X SP

No Limit

Policy Term (in years)

5

75 years – age at entry

Premium Payment Term (in years)

Single

Single

Entry Age of Policyholder

1 month

70 years

Age at Maturity

-

75 years

Single premium (in Rs.)

5,00,000

No Limit

Payment modes

Only Single

 

 

Additional Features and Benefits of IDBI Federal Wealthsurance Premier

 

Riders – There are 4 riders available in this policy

1.     Health Rider- covers 17 major diseases

2.     Hospital Cash Benefit rider

3.     Accidental Death Benefit  Rider

4.     Accidental Death and Disablement rider

 

Investment Fund Options

There are 4 Investment options available

 

  • Assured Return Options with a choice of Monthly Guaranteed Interest or Guaranteed Returns
  • Dynamic Guaranteed Returns with exposure in the equity market along with capital protection
  • Market Fund Option where the fund can be managed by the policyholder with 7 Fund Options
    • Equity Growth Fund
    • Nifty Index Fund
    • Midcap Fund
    • Pure Fund
    • Bond Fund
    • Income Fund and
    • Liquid fund
  • Asset Allocator Option where the Fund managers would manage the fund to optimize returns.

 

 

Top-up - The minimum and maximum amount for Top-up is Rs 10,000 and sum assured automatically increases by 1.1% the Top up premium for age of policyholder >45 years and by 1.25% the Top up premium for age of policyholder <=45 years

 

Switching - Switching is allowed under the same investment options among the funds available.

 

Partial Withdrawal - Partial withdrawals are allowed only after completion of 5 policy years or 18 years age of the life insured, whichever is later. Minimum amount of partial withdrawal is Rs 10,000 such that the balance should be at least Rs 2,50,000.

 

 

What happens if?

 

You stop paying the premium – This being a single premium plan, there is no concept of stop paying premiums.

 

You want to surrender the policy – Surrender Option is available after completion of 5 policy years and there are no surrender charges.

 

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




 

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