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The main vision that keeps IDBI Federal Life Insurance Co. Ltd. running is that they aim to deliver world-class wealth management, protection and retirement solutions to the customers and give them a sense of convenience and value. Through the years, IDBI has been striving to achieve newer product offering, relationship management and service delivery and all that by interacting with customers. Cost effective methods, transparency of work and building human capital are some of the most important aspects of their mission. Given below are a few insurance policies which are provided by IDBI Federal Life Insurance Co. Ltd.
Products
Wealthsurance
These are unique plans which are developed for the purpose of meeting long-term
financial goals and enable customers to save and build up their wealth. Several
options with regard to investments and insurance are available. For individuals
with a high net-worth, growth is facilitated under the protective cover of
insurance and it has low premium charges too. There are two, namely:
- Milestone Plan
- Premier Insurance Plan
Homesurance
MRTA (Mortgage Reducing Term Assurance) plan is the basic concept which gives an
insurance cover that is equal to the balance of your home loan. In case of death
of the borrower, there is a repayment from the insurance companies that avoids
burden on the family. There is also an option of a Single Premium. The plans
are:
- Protection Plan
- Homesurance Plan
Termsurance
This insurance plan caters to the needs of different classes of individuals
including the rural population. Some of them include covers at low costs and
plans for various groups such as employer-employer, bank-depositor and
customer-supplier. There are several tax benefits which accompany this scheme.
The plans are as follows:
- Protection Plan
- Grameen Bachat Yojana
- Grameen Suraksha Yojana
- Group Life Plan
- Premier Insurance Plan
Loansurance
In case of death of an insured member, a 'Loansurance' ensures the debt is
settled. The loan plan is directly provided to a person who is liable for its
repayment even if means when two individuals are in a partnership. Here are some
of the options which you can choose from:
- Reducing Cover
- Level Cover
Bondsurance
This is an interesting scheme where customers do not get affected by the
financial market conditions and get guaranteed returns on investments along with
a life insurance cover. There is another choice of making a one-time investment
and opting for a particular maturity period too. At the end of the term, you
receive a maturity amount. Select from the options below:
- Bondsurance Plan
- Advantage Insurance Plan
Others
Incomesurance
The Incomesurance Endowment & Money Back Plan guarantees the customer an annual
payout every time a premium is paid. Tax benefits and the flexibility of
covering all important events like marriages, education, loans, retirement or
simply financial security are provided with this plan.
Retiresurance
The Pension Plan is a way of making money even after retirement - more like a
return on investments and growth in wealth. For example, every time an
individual pays a premium on an installment, a maturity value is attained and
this is paid on survival to the vesting date of the policy.
Healthsurance
Hospitalization and Surgical Plan helps in handling the extra burdens in a
family. It holds good for people aged between 18-55 years and takes care of all
the costs of hospital stay, treatment, household bills and travel expenses. It
has several other benefits with aims to keep you out of tension.
Group Microsurance
There are many micro-finance groups like NGOs where its members need a cover on
their finances and security of their families. Keeping in mind the profession,
this comes at an affordable cost and takes into account accidental benefits too.
In case of death of a group member, IDBI Federal pays the sum insured to the
deceased's family, subject to some conditions.
Contact Address
IDBI Federal Life Insurance Co Ltd,
1st Floor, Tradeview, Oasis Complex, Kamala City,
P.B. Marg, Lower Parel (W),
Mumbai - 400013
Tel: 022-24908109/10
Fax: 022-24941016
Website: www.idbifederal.com
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